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Indian Share Markets Open at Record Highs; IndusInd Bank & Asian Paints Top Gainers
Tue, 15 Jun 09:30 am

Asian share markets are mixed today as investors awaited a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the US monetary policy outlook.

The Hang Seng is down 0.8% while the Nikkei is up 1.1%. The Shanghai Composite is down 0.9%.

In US stock markets, Wall Street indices ended at record highs helped by tech names.

The Nasdaq Composite rose 0.7% while the S&P 500 index gained 0.8%. The Dow Jones Industrial Average ended on a flat note.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

Jubilant FoodWorks, PFC, Whirlpool, LIC Housing, Easy Trip Planners and Lemon Tree Hotels are among companies that will announce their March quarter earnings today.

The BSE Sensex is trading up by 260 points. Meanwhile, the NSE Nifty is trading higher by 75 points.

Titan is among the top gainers today. Bajaj Auto, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.5% and 0.7%, respectively.

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Barring metal and power stocks, all sectoral indices are trading in green with stocks in the consumer durables sector and IT sector witnessing most of the buying interest.

Shares of Avenue Supermarts and Tata Consumer hit their 52-week highs today.

The rupee is trading at 73.20 against the US$.

Gold prices are trading down by 0.1% at Rs 48,498 per 10 grams.

Meanwhile, silver prices are trading down by 0.8% at Rs 71,296 per kg.

Speaking of stock markets, Brijesh Bhatia talks about metal stock, in his latest video for Fast Profits Daily.

As per Brijesh, metal stocks are all set to kick off the next leg of their rally.

Tune in to the below video, to know why Brijesh is bullish on metals.

In news from the mining sector, Coal India is among the top buzzing stocks today.

State-run Coal India's net profit fell 32% to Rs 76.4 bn on a total income of Rs 938.2 bn in financial year 2020-21.

The PSU coal miner had booked a net profit of Rs 112.8 bn on a total income of Rs 1,025.3 bn in the same period last year.

Sales revenue in financial year 2020-21 was down 7.5% as both production and offtakes were down by 6 MT and 7 MT at 596 MT and 574 MT, respectively.

For the quarter ended March 2021, the company posted a net profit of Rs 24.7 bn.

Total comprehensive income for the quarter stood at Rs 43.7 bn.

Besides, the company's board recommended a final dividend of Rs 3.50 per share.

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The government will receive Rs 14.3 bn as dividend from the company.

The total dividend payout for the year gone by stands at Rs 16 per share or 160%.

The government is the largest shareholder with control of 66.1% in Coal India. Its shareholding in the company reduced from 71% due to continuous dilution in small tranches since March 2019.

The company's dividend policy and high capital expenditure has led to a sharp drop in the free cash position of the world's largest miner.

Coal India's free cash balance dropped to Rs 173.1 bn this year from around Rs 280 bn in 2019-20 as its cash flow generation could not match the outflow due to lower sales trend last year owing to slowdown and Covid-19 related disruptions.

Coal India share price has opened the day down by 0.4%.

Speaking of Coal India, have a look at the chart below to see how the stock has performed over the past one year.

Over the last one year, the company's share price is up 12.4%.

The share touched its 52-week high of Rs 164.9 last week on 11 June.

How the stock performs in the coming months remains to be seen.

Moving on, Adani group stocks are in focus today.

As per a leading financial daily, at least four foreign funds are in the limelight for their investment in Adani group companies.

The four funds include Elara India Opportunities Fund, Albula Investment, APMS Investment and Cresta Fund.

They have investment in a number of domestically listed firms besides the Adani group firms.

However, the value of their holdings in Adani group stocks is between 94.7% and 98%, raising eyebrows over their investment decisions.

Albula, APMS and Cresta are registered as FPI under Category I with the markets regulator.

The group said all three funds have been investors for over a decade and their ownership in other group firms is due to demergers.

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A large portion of the 25% public float is with funds such as Elara, Albula, LIC, Opal, APMS and Cresta. As a result, market experts say the actual free float is low, which could potentially hamper fair price discovery.

Note that yesterday, all Adani group stocks tumbled following reports accounts of three investor funds had been frozen.

The group later clarified saying the reports about NSDL freezing the funds' accounts as "blatantly erroneous".

How the above developments pan out remains to be seen.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

Sensex Gives Up Morning Gains, Dow Futures Down by 80 Points (Today's Market)

Jul 27, 2021 12:30 pm

BSE Sensex is trading down by 176 points, while the NSE Nifty is down by 43 points.

Sensex Opens Higher; ICICI Bank & Tata Steel Top Gainers (Today's Market)

Jul 27, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 130 points, while the Nifty is trading higher by 47 points.

INOX LEISURE Share Price Up by 13%; BSE 500 Index Up 0.4% (Today's Market)

Jul 27, 2021 09:41 AM

INOX LEISURE share price is trading up by 13% and its current market price is Rs 344. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index is INOX LEISURE (up 13.5%). The top losers are GSK PHARMA and TUBE INVESTMENTS OF INDIA .

TATA STEEL at All Time High; BSE METAL Index Up 1.3% (Today's Market)

Jul 27, 2021 09:35 AM

TATA STEEL share price has hit an all time high at Rs 1,321 (up 1.2%). The BSE METAL Index is up by 1.3%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 1.2%) and JSW STEEL (up 0.8%).

PFIZER Share Price Up by 5%; BSE HEALTHCARE Index Up 0.5% (Today's Market)

Jul 27, 2021 09:33 AM

PFIZER share price is trading up by 5% and its current market price is Rs 6,001. The BSE HEALTHCARE is up by 0.5%. The top gainers in the BSE HEALTHCARE Index are PFIZER (up 5.2%) and CAPLIN POINT (up 7.3%). The top losers are SUN PHARMA (down 0.3%) and IPCA LABS (down 0.4%).

ZENSAR TECHNOLOGIES Share Price Up by 6%; BSE IT Index Up 0.2% (Today's Market)

Jul 27, 2021 09:33 AM

ZENSAR TECHNOLOGIES share price is trading up by 6% and its current market price is Rs 414. The BSE IT is up by 0.2%. The top gainers in the BSE IT Index is ZENSAR TECHNOLOGIES (up 6.1%). The top losers are ORACLE FINANCIAL and CYIENT (down 0.1%).

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