Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex, Nifty Open at Fresh Record High; Tata Motors Rallies 10%
Wed, 13 Oct 09:30 am

Sensex, Nifty Open at Fresh Record High; Tata Motors Rallies 10%

Asian share markets are volatile today as worries about soaring power prices fueling inflation weighed on sentiment and drove expectations the US would taper its emergency bond buying programme.

The Nikkei and the Shanghai Composite are trading down by 0.2% and 0.4%, respectively. The Hang Seng is trading on a flat note.

In US stock markets, Wall Street indices finished lower on Tuesday, extending losses as investors grew cautious in the run up to third-quarter earnings.

The Dow Jones fell 0.3% while the Nasdaq slipped 0.1%.

Back home, Indian share markets have opened on a positive note.

Infosys, Mindtree, Plastiblends India and Aditya Birla Money are among the companies that will announce their September quarter results today.

The BSE Sensex is trading up by 236 points. Meanwhile, the NSE Nifty is trading higher by 84 points.

Tata Motors and M&M are among the top gainers today. Tata Steel, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.6% and 0.8%, respectively.

--- Advertisement ---
Govt's 257 Bn Rupees Boost for EVs- Your Chance for Potentially Wild Profits

A few days back, the government announced that it will be pumping a whopping 257 billion rupees into electric vehicle initiatives by 2025.

We urge you to become a part of the EV gold rush that's happening now and gain the early mover advantage.

We have closed in on 3 EV stocks which could potentially hand you over insane profits in the long run.

We will be revealing all the details in one of our upcoming special online event.

Sign Me Up For the FREE Event
------------------------------

Barring metal and oil & gas, all sectoral indices are trading in green with stocks in the automobile sector and capital goods sector witnessing most of the buying.

Shares of PVR and Page Industries hit their 52-week highs today.

The rupee is trading at 75.39 against the US$.

Gold prices are trading down by 0.1% at Rs 47,180 per 10 grams.

Meanwhile, silver prices are trading up by 0.3% at Rs 61,770 per kg.

Speaking of stock markets, Brijesh Bhatia shares a new trading opportunity, in his latest video for Fast Profits Daily.

In the video, Brijesh shows how to trade this overlooked sector using a chart that you haven't seen before.

In news from the automobile sector, Tata Motors is among the top buzzing stocks today.

Tata Motors on Tuesday closed a deal to raise Rs 75 bn from TPG Rise Climate and Abu Dhabi's ADQ.

This is the first major fundraising by an Indian carmaker to push clean mobility and electric vehicles (EVs).

FREE Event: The Great Indian Wealth Project

The investment will be in a newly formed subsidiary Tata Motors has formed for the EV business. This funding will give a stake of 11-15% to the TPG-ADQ combine in this subsidiary.

Chief Financial Officer P B Balaji said the company would invest more than Rs 160 bn over next five years.

In a conference call, Balaji said,

  • This new subsidiary will be asset-light, and all the investment will go towards creating intellectual properties like new vehicle designs and EV platforms. The Tata Motors passenger vehicle business doesn't have the wherewithal in the EV space. Creating that needs investments of $2 billion.

The company said the first round of capital infusion would be completed by March 2022 and all the money will come by the end of 2022.

The wholly-owned EV subsidiary, which the company calls EvCo, will undertake the passenger electric mobility business while the passenger business unit will own the existing assets like manufacturing plants, dealerships, and brands.

Chairman of Tata Sons N Chandrasekaran said that over the next five years, Tata Motors would create a portfolio of 10 EVs.

He added that in association with Tata Power, the group will also catalyze the charging infrastructure to facilitate rapid EV adoption in India.

Tata Motors share price has opened the day up by 10%.

--- Advertisement ---
What CNBC Won't Tell You...

The next 10 years would be a golden period for Indian investors...

The "Big Bull" Rakesh Jhunjhunwala claims it could be one of the largest stock market bull runs in India ever...

And veteran investor Raamdeo Agarwal says the S&P BSE Sensex could even reach 200,000 points in the next 10 years... All thanks to these...

Highly Powerful Wealth-Building Mega-Trends
------------------------------

Speaking of electric vehicles, after the government announced the extension of the FAME II scheme, several states like Maharashtra, Gujarat, Rajasthan, and Delhi have announced their own policies for the faster adoption of EVs.

Under the FAME II scheme, 350 new EV charging stations have been installed across the country.

Here's a summary of stations that have been installed in each city.

The government is actively formulating guidelines such as setting EV charging infrastructure by the Ministry of Power, amendment in model building bye-laws (MBBL-2016) for EV charging infrastructure by Ministry of Housing and Urban Affairs, etc.

Moving on to news from the telecom sector, India is set to receive an investment of about Rs 33 bn from 31 domestic and multinational companies over a period of four years under the ambitious production-linked incentive (PLI) scheme.

This will likely employ as many as 40,000 individuals in the telecom sector.

Following the incentive package, proposals from as many as 31 companies that included 16 micro, small and medium enterprises (MSME), seven multinationals and eight domestic players have been approved by the telecom department (DoT).

Multinational companies include Nokia Solutions and Networks, Foxconn Technology, Flextronics Technologies, Commscope and Jabil Circuit.

In addition, HFCL, Tejas Networks, VVDN Technologies, Dixon Electro Appliances, and state-run ITI were among homegrown companies declared eligible under the scheme.

The scheme for the telecom sector includes manufacturing of transmission equipment, 4G and 5G radio access network and wireless equipment, customer premise equipment (CPE), access devices, routers and switches.

In April 2021, the government had launched a program with an outlay of Rs 122 bn to promote networking equipment by incentivizing incremental investments by domestic and foreign companies.

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!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex, Nifty Open at Fresh Record High; Tata Motors Rallies 10%". Click here!

  

Stock Market Updates

Sensex, Nifty Trade Flat; Telecom & Healthcare Stocks Under Pressure (Today's Market)

Dec 3, 2021 10:30 am

Indian share markets trade flat with the BSE Sensex down by 34 points, while the Nifty is trading lower by 11 points.

SGX Nifty Down 52 Points; Indicates Negative Opening for Indian Stock Markets (Today's Market)

Dec 3, 2021 SGX Nifty

Trends on SGX Nifty indicate a negative opening for Indian stock markets.

L&T, ReNew Power Join Hands for Green Hydrogen Biz, Cadila's Covid Vaccine, and Buzzing Stocks Today (Today's Market)

Dec 3, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks(Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

India's Top 5 Monopoly Stocks to Watch Out for(Views On News)

Nov 30, 2021

These 5 companies dominate their sectors with a huge piece of the pie.

5 Indian Companies Embracing Blockchain Technology(Views On News)

Nov 23, 2021

Blockchain adoption in India was slow in the past. Now, the technology is being well received.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Dec 3, 2021 (Close)

MARKET STATS