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SGX Nifty Up 187 Points, HUL Q1 Results, Vedanta's Second Interim Dividend, and Top Buzzing Stocks Today

Wed, 20 Jul Pre-Open

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On Tuesday, Indian share markets ended on a positive note, although there was some volatility amid weakness in global markets.

Benchmark indices extended the rally for the third straight day led by index heavyweights Reliance Industries and HDFC twins.

At the closing bell on Tuesday, the BSE Sensex stood higher by 247 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 62 points (up 0.4%).

Axis Bank, M&M, and Bajaj Finserv were among the top gainers.

Nestle, HCL Tech, and Sun Pharma, on the other hand, were among the top losers.

The broader markets ended in the green. The BSE MidCap index ended higher by 0.6% and the BSE SmallCap index ended higher by 1%.

Sectoral indices ended on a mixed note with stocks in the auto sector, banking sector, and realty sector witnessing most of the buying.

While stocks in the media sector and pharma sector witnessed most of the selling.

At 8:00 AM today, the SGX Nifty was trading up by 187 points or 1.1% higher at 16,520 levels.

Indian share markets are headed for a gap-up opening today following the trend on SGX Nifty.

Shares of Siemens and Eicher Motors hit their 52-week highs.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Vodafone Idea, Yes Bank, and Suzlon Energy were amongst the most active shares on the BSE yesterday.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee fell and hit a new record low yesterday and closed at 79.94 against the US$.

As the rupee depreciates, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,384 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.2% at Rs 55,964 per 1 kg, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Speaking of stock markets, in the next episode of Investor Hour podcast, Rahul Goel - CEO Equitymaster, talks with Alok Jain.

In the below video, Alok Jain talks about asset allocation and his unique approach to trading.

Top Buzzing Stocks Today

Vedanta share price will be among the top buzzing stocks today.

Vedanta's board of directors have approved a second interim dividend of Rs 19.5 per equity share.

The second dividend of the fiscal year 2023 will aggregate up to Rs 72.5 bn, the company said in a regulatory filing.

The metal and mining firm also confirmed 27 July 2022, as the record date for the purpose of payment of dividend.

Discover: How to Grow Your Wealth in a Stress-Free Way

The move comes to help its debt-heavy parent, Vedanta Resources, which owns about 70% of the Indian firm.

The dividend is key for its parent, which has seen its bonds fall the most in June since the early months of the pandemic in 2020.

Bond investors are concerned that the risk of an economic recession may put more pressure on commodity prices, and impact the worth of the company's assets.

Since dividends interest you, check out the 5 stocks that may declare big upcoming dividends.

Steel Strips Wheels share price will also be in focus today.

The auto ancillaries company, Steel Strips Wheels, has approved a stock split in the ratio of 1:5.

The record date for the purpose of stock split, shall be decided after obtaining approval for sub-division from the shareholders at the forthcoming Annual General Meeting, the company announced.

Explaining the rationale behind the stock split decision, Steel Strips said it is to provide enhanced liquidity to the company's shares in the stock market and to encourage the participation of small investors by making equity shares of the company affordable.

Market participants will also track shares of Wipro, IndusInd Bank, and Tata Communications as these companies are set to announce their Q1 results later today.

HUL Q1 Results

Hindustan Unilever (HUL), one of the country's top FMCG companies, reported standalone net profit of Rs 22.9 bn for the quarter ended June 2022.

The net profit is up 11% from Rs 20.6 bn posted in the same quarter last year.

The company's revenue from sales jumped 19.4% YoY to Rs 140.2 bn as compared to Rs 117.3 bn in the corresponding quarter last year.

HUL's operating margin remained healthy at 23.2% despite the unprecedented inflation in input costs.

Earnings before interest, tax, depreciation, and amortization for the quarter came at R 32.5 bn. The YoY EBITDA margin declined by 110 bps.

The company said it continued to grow significantly ahead of the market, gaining value and volume market shares.

The home care unit delivered 30% growth whereas the beauty & personal care segment saw a growth of 17%.

The foods & refreshment unit grew 9% driven by solid performance in ice cream, coffee, and food solutions.

Speaking of inflation, check out Equitymaster's recent editorial on shrinkflation: the inflation you're not supposed to see.

Mitsu Chem Plast files for FPO

Packaging solutions provider Mitsu Chem Plast has filed draft papers with the market regulator to raise up to Rs 1.3 bn through a follow-on public offer (FPO).

According to the draft red herring prospectus, the further issue comprises of equity shares of face value of Rs 10.

Proceeds from the issue will be used to repay debt, fund the working capital requirements of the company, and for general corporate purposes.

The Maharashtra-based company posted a net profit of Rs 115 m and a total income of Rs 2.6 bn for the fiscal ended March 2022.

Mitsu Chem Plast is a packaging solutions provider engaged in the business of manufacturing polymer-based molded products.

Since you are interested in FPOs, check out these stocks where recent fundraising deserves your attention.

We will keep you updated on the latest developments from this space. Stay tuned.

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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