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Indian Share Markets Trade Flat; HUL, IndusInd Bank & Bharti Airtel Top Losers
Wed, 15 Jun 10:30 am

Indian Share Markets Trade Flat; HUL, IndusInd Bank & Bharti Airtel Top Losers

Asian share markets are mixed today ahead of a key US Federal Reserve decision, with expectations of an even tougher rate hike than previously telegraphed.

The Nikkei is down 0.9% while the Shanghai Composite is up 1.4%. The Hang Seng is trading higher by 1.4%.

In US stock markets, Wall Street indices closed lower on Tuesday, a day after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.

The Dow Jones fell 0.5% while the Nasdaq ended 0.2% higher.

Back home, Indian share markets are trading on a flat note. Benchmark indices opened flat today following the trend on SGX Nifty.

The BSE Sensex is trading down by 72 points. Meanwhile, the NSE Nifty is trading lower by 21 points.

Bajaj Finserv and Tata Steel are among the top gainers today.

HUL and Bharti Airtel, on the other hand, are among the top losers today.

The BSE Mid Cap index is up 0.3%. The BSE Small Cap index is trading higher by 0.6%.

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Sectoral indices are trading mixed with stocks in the automobile sector and power sector witnessing most of the buying.

Metal stocks and energy stocks, on the other hand, are trading in green.

Shares of Varun Beverages hit their 52-week high today.

LIC share price jumped 4% today after continuously falling for the past couple of days.

The stock market is falling as there are inflation worries and geopolitical tensions remain overhang.

Amid the volatility, many stocks have hit their 52-week lows, despite strong fundamentals.

In this uncertainty, check out these 5 fundamentally strong companies which pay regular dividends and are undervalued.

Gold prices are trading up by 0.3% at Rs 50,345 per 10 grams.

Meanwhile, silver prices are trading up by 0.8% at Rs 59,959 per kg.

Crude oil prices dropped today on worries over fuel demand ahead of a US Federal Reserve meeting.

The Indian stock market is falling which has traders and investors worried.

The one question on every investor's mind these days is are we in a bear market.

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In news from the green hydrogen space, NTPC and Amara Raja Batteries are among the top buzzing stocks today.

NTPC has awarded Amara Raja Power Systems a project to set up India's first green hydrogen fueling station in Leh, Ladakh.

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The project aims to bring in emission-free transport in and around Leh with a plan to ply five hydrogen fuel cell buses in the region.

The project is being set up at a height of 3,600 meters above sea level with a temperature variation of - 14 degrees to +20° celsius.

The green hydrogen will be produced by splitting water into hydrogen and oxygen, using electrolysis process powered by electricity generated by renewable energy sources.

Note that there's a lot of hype surrounding the green hydrogen theme and big corporate companies are tapping into the space for the 'evergreen' opportunity.

Yesterday, the Adani group received funding from France's Total to acquire 25% in Adani New Industries.

Adani Enterprises and TotalEnergies of France will set up the world's largest green hydrogen and associated infrastructure at an investment of US$50 bn over the next ten years.

This is the fourth deal struck between the two entities in a span of last three years. In 2019, Total had bought a 37.4% stake in Adani Total Gas and last year, it spent US$2.5 bn acquiring 20% of Adani Green Energy, and a 50% stake in a portfolio of solar assets.

Mukesh Ambani's Reliance Industries also has big plans around green hydrogen.

It remains to be seen how things pan out in the green hydrogen space. Watch out for profitable opportunities from this space as Indian cashes in on this new age fuel.

Moving on to news from the telecom space, Bharti Airtel has launched India's first multiplex on the Partynite Metaverse platform.

The leading telecom service provider said Airtel's Xstream multiplex will be a 20-screen platform with access to content portfolios from leading OTT partners available on the application.

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The multiplex will enable sampling of original shows and movies with content pieces such as the first episode of an OTT original or the initial minutes of a film in regional languages besides English and Hindi.

Note that shares of Bharti Airtel are on a downtrend lately even as the company reports market share gains.

The stock touched its 52-week high of Rs 781.9 on 24 November 2021 and a 52-week low of Rs 509.4 on 18 June 2021.

chart

Bharti Airtel has reported sequential revenue market share gains in the March quarter, helped by sharp price hikes taken by the operator.

The Sunil Mittal-led telco reported the highest jump at 71 basis points (bps) sequentially, taking its RMS in the fiscal fourth quarter to 35.5%.

According to the TRAI data, the overall March quarter sectoral revenue rose 7% sequentially to Rs 519 bn, helped by the tariff hikes taken last November/December by all three telcos.

To know more, check out Bharti Airtel's factsheet.

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

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