SGX Nifty Up 142 Points, M&M's EV Partnership with Volkswagen, Cryptos on the Rise, and Top Buzzing Stocks Today

Tue, 16 Aug Pre-Open

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On Friday last week, Indian share markets ended on a positive note amid a highly volatile session.

Benchmark indices registered gains on the back of rally in metal stocks along with banking and financials.

At the closing bell on Friday, the BSE Sensex stood higher by 130 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 39 points (up 0.2%).

ONGC, NTPC, and Tata Steel were among the top gainers.

Divi's Lab, Apollo Hospitals and Infosys, on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index climbed up by 0.1% while the BSE Smallcap index climbed up by 0.5%.

For more information, check out these fast growing smallcap stocks with zero debt that have consistently reported increasing revenues and profits.

Sectoral indices ended on a mixed note with stocks in the oil and gas, power and metal sector witnessing maximum buying.

On the other hand, stocks in the IT and Healthcare witnessed selling interest.

Shares of Page Industries, Tata Elxis and SKF India hit their 52-week high.

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At 7:40 AM today, the SGX Nifty was trading up by 142 points or 0.7% higher at 17,840 levels.

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

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

Indraprastha Gas will be among the top buzzing stocks today.

Indraprastha Gas share price saw a sharp rally last week after the company reported a 72% rise in the net profit to Rs 4.2 bn.

The company's revenues surged 155% to Rs 31.9 bn.

Natco Pharma share price will also be in focus today.

The company's shares plunged 14% last week despite a strong performance in the June quarter as brokerage houses cut estimates for the company due to inflation, delays in launches and higher expenses.

Market participants will also track shares of BEML.

BEML share price will be on the radar amid demerger buzz for its land holding company. This sparked the privatization buzz and update over the execution of a US$20 m order last week.

M&M Lines Up All-Electric Vehicles

With an eye on gaining leadership in the electric four-wheeler segment, M&M announced that it will launch five new electric Sports Utility Vehicles (SUVs) for both domestic and international markets.

The first four are expected to hit the road between 2024 and 2026.

In other news, the Mahindra group company has entered into explanatory talks with Europe's largest car maker Volkswagen Group to lead the electrification space in India and take it to global markets.

This would accelerate the company's ambition to reach to sell two lakh electric vehicles (EVs) by 2027 that could potentially generate revenue of around Rs 500 bn for EV its subsidiary.

M&M will have access to the latest VW technologies and should also help reduce the development time and cost to launch its own born electric vehicles.

On the sidelines, the company also signed a term sheet with Volkswagen Group for sourcing parts for these electric vehicles and mentioned that it will be exploring a potential joint platform for India and emerging markets with the VW Group.

Note that M&M has already announced its commitment of over a billion dollars to aggressively participate in the EV race and it expects a significant 30% of its total sales to come from electric SUVs by 2027.

M&M share price is rising and continues to skyrocket, irrespective of the global crisis and macroeconomic hurdles.

To know more, check out M&M's 2021-22 annual report analysis.

Ola's EV Push

Ola Founder and CEO Bhavish Aggarwal on Monday shifted gears and entered new territory by showcasing a homegrown electric car that will arrive in the country by 2024.

This is the most ambitious car project ever undertaken in India, Aggarwal said while announcing the plans at a virtual event coinciding with India's Independence Day.

Aggarwal said the Ola Electric car will have a 500-km range on a single change and will go from zero to 100 km within 4 seconds.

The car will also come with Ola's very own MoveOS software and car owners will be able to receive regular feature updates OTA through their ownership span.

Ola also launched an all-new Ola S1 scooter with premium design at an introductory price of Rs 99,999. The reservations for early access of the all-new Ola S1 began for Rs 499.

Cryptos Head Higher

World's largest crypto Bitcoin briefly surpassed US$25,000 for the first time since mid-June on Monday, as momentum continued from a cooler-than-expected US inflation data.

Sentiment also improved as there was progress toward Ethereum's big upgrade.

Note that cryptos have been falling and are struggling through the first half of the year as the Federal Reserve hiked rates to combat stubbornly high inflation

Prices of Bitcoin, Ether and other tokens fell by more than 50% owing to this. With US inflation data coming in below expectations in the past week, potentially paving the way for less-aggressive tightening action from the Fed, risk assets like cryptos have advanced.

Since cryptos interest you, check out the best cryptos to invest.

And 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!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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