Indian Indices Trade Higher; HCL Tech, Bharti Airtel & TCS Up Over 4%

Fri, 25 Sep 12:30 pm

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Share markets in India are presently trading on a positive note.

Benchmark indices rose more than 1% tracking gains in Asian equities, a day after BSE Sensex and NSE Nifty hit two-month closing lows.

The BSE Sensex is trading up by 451 points, up 1.2%, at 37,000 levels.

Meanwhile, the NSE Nifty is trading up by 127 points.

HCL Technologies and Bharti Airtel are among the top gainers today.

The BSE Mid Cap index is trading up by 1.3%.

The BSE Small Cap index is trading up by 1.4%.

On the sectoral front, gains are largely seen in the telecom sector and IT sector.

US stock futures are trading higher today. Nasdaq Futures are trading up by 28 points (up 0.3%), while Dow Futures are trading up by 90 points (up 0.4%).

The rupee is trading at 73.74 against the US$.

Gold prices are trading down by 0.2% at Rs 49,810 per 10 grams.

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In the podcast, Vijay talks about the volatility in the benchmark indices. Instead of trading for short-term profits of 5-10%, he thinks it's a far better idea to wait for the big profit trades. These are longer-term trades which can pay out anywhere between 50-80%.

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In news from the power sector, as per an article in The Economic Times, the power ministry has begun deliberations on bringing electricity under Goods and Services Tax (GST), as a recent study it conducted showed that this would reduce per unit cost of power to generation, distribution and transmission companies by 17 paise per unit, leading to big savings for consumers.

The article stated that government is weighing pros and cons of bringing electricity under GST.

The ministry has asked NTPC and the Central Electricity Authority (CEA) to study and report the benefits and challenges.

The article stated that the cumulative per unit input costs will be reduced by 17 paise per unit for generation, transmission and distribution companies, as input tax credit will be available to them. The per unit tariff to consumers would come down and benefit the power sector as a whole.

Electricity prices for Indian industries are one of the highest in the world as states charge high tariffs to subsidize agricultural and residential consumers.

All power companies have been supporting GST on electricity, citing lower tariffs to end consumers including industrial units, which in turn may boost the demand for power in the country.

A government official said that high-cost, low-quality power supply is rendering industrial units uncompetitive and adversely affecting the government's Atmanirbhar Bharat campaign at a time when the country's installed generation base is highly underutilized.

Data shows that India's thermal power plants operated at 53% capacity in July this year against 55% a year ago.

How the above developments pan out remains to be seen.

Speaking of the power sector, it is interesting to note that the power exchanged in India is about 4.5% of the overall power production, as can be seen in the chart below:

This is abysmally low by global standards. This shows that there is big upside in the market share of power exchanges in India.

As per Tanushree Banerjee, India's power sector is currently in transition. It is driven by increasing reliance on short-term contracts and electricity spot markets. This transition to the short-term market is happening due to quickly evolving industry dynamics.

Tanushree believes the Indian power sector will see a surge in spot power volumes due to certain factors.

Last month, Tanushree recommended a high quality stock from this space. Subscribers can read the report here (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

Moving on to stock specific news...

Advanced Enzyme Technologies is among the top buzzing stocks today.

Shares of the company rallied 10% in early trade today after foreign portfolio investor (FPI) bought nearly 4% stake in the company via open market.

The stock of the agricultural products company is trading at its fresh 52-week high and has gained as much as 30% in the past two trading days.

Yesterday, Nalanda India Equity Fund bought 4.19 million equity shares, representing 3.75% stake in Advanced Enzyme for Rs 1.1 billion.

Exchange data shows that the FPI purchased shares at price of Rs 263.80 per share on the NSE via bulk deals.

In its annual report 2019-20, the company has said it may benefit from an increase in healthcare spending in the US and India. The US has the highest health spending in the world, and it is drastically moving towards the usage of human healthcare enzymes and Probiotics.

Advanced Enzyme Technologies share price is presently trading up by 9%.

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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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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Indian Share Market Update: Top Gainers and Losers