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Gift Nifty Down 35 Points | Adani Total Gas & PVR Inox Q1 Results | L&T's Multiple Order Win | Top Buzzing Stocks Today
Wed, 2 Aug Pre-Open

Adani Total Gas & PVR Inox Q1 Results | L&Ts Multiple Order Win | Top Buzzing Stocks Today

On Tuesday, Indian share markets pared the gains as session progressed and ended the day lower.

Benchmark indices closed in the red on Tuesday on profit booking in select heavyweights, including Reliance Industries, Power Grid, SBI and ICICI Bank amid mixed global cues.

At the closing bell on Tuesday, the BSE Sensex stood lower by 68 points (down 0.1%).

Meanwhile, the NSE Nifty closed down by 20 points (down 0.1%).

NTPC and HCL Tech were among the top gainers.

Hero MotoCorp and Apollo Hospital, on the other hand, were among the top losers.

Broader markets ended on a mixed note. The BSE Midcap index ended 0.2% lower and BSE SmallCap ended 0.5% higher.

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Sectoral indices ended on a mixed note with stocks in the IT sector, and metal sector witnessing most of the buying.

On the other hand, stocks from the realty sector and power sector witnessed selling pressure.

Shares of MRF and Polycab India hit their 52-week high on Tuesday.

The rupee was trading at 82.25 against the US$.

Gold prices for the latest contract on MCX were trading 0.6% lower at Rs 59,720 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:50 AM today, the Gift Nifty was trading 35 points or 0.2% lower at 19,767 levels.

Indian share markets are headed for a negative opening today following the trend on trend on Gift Nifty.

Speaking of the stock markets, Rahul Shah co-head of research at Equitymaster, talks about a simple rule to navigate this all-time high market.

The index has already gone up 16% from its March lows and there is nothing on the horizon for the time being that can stop the rally in its tracks.

This presents the classic dilemma for the average investor. Should we take advantage of this rally and exit a few stocks, or should he keep riding the bull to new highs?

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Top buzzing stocks today

PVR Inox share price will be in focus today.

PVR Inox yesterday reported a loss of Rs 441 m in the first quarter of fiscal 2024 against a profit of Rs 683 m in the year-ago period, hit by a below-average performance of Hindi films, a slow recovery in footfalls and cinema advertising revenue.

Sequentially, the multiplex operator managed to narrow the loss from Rs 3.3 bn in the previous quarter.

M&M will also be a top buzzing stock.

Mahindra and Mahindra (M&M) shares rose over a percent yesterday after the company announced that it is establishing an electric vehicle (EV) battery testing facility at Mahindra Research Valley (MRV) in Chengalpattu and a crash test facility at Mahindra SUV Proving Track (MSPT).

L&T bags multiple orders

L&T Construction on Tuesday announced that its heavy civil infrastructure business vertical has bagged multiple orders from Rail Vikas Nigam.

the major scope of work for the project includes the design and construction of the ramp and underground metro railway works from Mominpur to Esplanade, 5.05 km including four underground stations, tunnels by tunnel boring machine and cut & cover methods, architectural finishing works, track works, etc.

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This package is the first of its kind for L&T in the Middle East market. The scope of work includes a feasibility study, concept design, detailed design, construction, and installation of special systems.

While the company didn't inform about the value of the order, according to L&T, the value of significant order is between Rs 10 bn and Rs 25 bn, large orders are worth Rs 25 bn- Rs 50 bn, major orders are in the range of Rs 50 bn- Rs 70 brand mega orders are worth above Rs 70 bn.

L&T is a US$ 23 bn multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

Note that L&T has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favourite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape. For more details, check out L&T's next big leap in the green hydrogen space.

Adani Total Gas Q1 results

Adani Total Gas has reported a consolidated net profit of Rs 1.5 bn for the quarter ended June 2023. It was 9% higher when compared with Rs 1.4 bn clocked in the previous year's quarter.

Revenue from operations rose by a marginal 2% year-on-year (YoY) to Rs 11.4 bn in the first quarter. The same stood at Rs 11.1 bn in the last year period.

The company has clocked an EBITDA of Rs 2.6 bn during the first quarter, up 12% year-on-year on account of higher volume, cost optimization, and maintaining a balanced price strategy.

CNG volumes increased by 18% year-on-year for the reporting quarter, led by a reduction in CNG prices along with network expansion of CNG stations.

Meanwhile, PNG volume decreased by 6% year-on-year due to lower offtake by consumers on lower alternative fuel prices.

Despite an increase in volume, revenue from operations has increased marginally due to a reduction in sales price as ATGL passed through the reduction in domestic gas prices as per the revised pricing formula.

The cost of gas has also remained flat due to lower domestic gas prices.

Total expenses in the first quarter increased marginally to Rs 9.4 bn, compared with Rs 9.3 bn in last year's quarter.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks.

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Coal India to acquire critical minerals abroad

In a bold move to diversify its operations and integrate further into the value chain, Coal India (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad.

The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expanding its presence in new sectors.

In the past, the miner's attempt to acquire coal assets aboard did not fructify.

In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions.

The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India.

In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India (KABIL), with participating interest from NALCO, Hindustan Copper and Mineral Exploration Corporation (MECL).

KABIL is mandated to identify and acquire overseas mineral assets of critical and strategic nature such as lithium, cobalt, etc.

In the past, NMDC and Coal India were considered for participation in the special purpose vehicle (SPV).

Coming to the stock performance, the?share price of Coal India?has eroded over 5% so far in 2023.

To know what has led to the changes in share price momentum for this?monopoly stock, check out?why Coal India's share price is falling.

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

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