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Adani Green Raises US$ 200 M| Zydus Lifesciences Gets USFDA Nod| Top Buzzing Stocks Today
Fri, 2 Dec Pre-Open

Adani Green Raises US$ 200 M| Zydus Lifesciences Gets USFDA Nod| Top Buzzing Stocks Today

On Thursday, Indian share markets and ended the day with a new record closing high. This was due to a sharp rally witnessed in IT and media indices.

At the closing bell on Thursday, the BSE Sensex stood higher by 185 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 54 points (up 0.3%).

Tata Steel, Hindalco, and UltraTech Cement were among the top gainers.

UPL, Eicher Motors, and ICICI Bank, on the other hand, were among the top losers.

Broader markets settled on a firm note. The BSE Midcap gained 0.6% while the BSE SmallCap index ended 0.6% higher.

If you're looking to midcap stocks that offer growth in the long run, check out these 5 midcap stocks for long term.

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

Stocks in the energy sector and power sector witnessed maximum selling pressure.

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Shares of L&T and Cummins India hit their 52-week highs today.

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

The rupee was trading at 81.2 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.9% at Rs 53,433 per 10 grams, at the time of Indian market closing hours on Thursday.

Speaking of stock markets, Brijesh Bhatia talks about energy stocks and why they should be on your radar, in his latest video for Fast Profits Daily.

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Top Buzzing Stocks Today

L&T will be among the top buzzing stocks today.

Larsen & Toubro closed a US$ 107 m (Rs 16 bn) sustainability-linked loan with Sumitomo Mitsui Banking Corporation.

Sustainability-linked loans seek to promote and support ecologically and socially sustainable economic activity and growth.

Adani Green Energy share price will also be in focus today.

The company received over US$ 200 m Thursday to restructure existing debt through its subsidiary, Adani Solar Energy AP Six. The money will be utilized to refinance Andhra Pradesh's 350 MW solar plant.

The facility consists of project loans totaling 27,954 m Japanese yen that amortize over 16 years, with an average loan term of more than 8 years and a door-to-door tenor of 10 years.

Coal India reports 17% jump in production

On Thursday, the Coal India said that between April and November of the current fiscal year, it produced 412.6 million tons (MT) of coal. In the same time frame in the previous year, the PSU produced 353.4 MT.

The corporation has reduced the annual requested growth rate by practically half to 6.7% and reached 99.7% of the progressive production target.

To meet its output goal for the financial year 2023, the company has to produce 287.4 MT of coal throughout the final four months of this fiscal year.

Coal India produced 60.7 MT of coal last month, meeting the goal 100% of the time and showing an almost 13% increase over the 53.8 MT produced in November of the previous year.

Last month, output increased by 14.7% sequentially.

Coal India is an Indian government-owned coal mining and refining corporation. It's the largest coal-producing company in the world and contributes around 82% to the total coal production in India.

Ashok Leyland sales on solid grounds

The Hinduja Group flagship firm, Ashok Leyland, reported a 39% jump to 14,561 units in November 2022 from 10,480 units sold in November 2021.

In comparison to the 14,863 units sold in October 2022, the company's total commercial (CV) sales decreased by 2.1% in November 2022.

While total sales of light commercial vehicles (LCV) increased 4% year over year to 5,087 units during the period under review, total sales of medium and heavy commercial vehicles (M&HCV) climbed 69% year over year to 9,474 units.

In November 2022, the company sold 13,654 domestically, up 46% from the 9,364 units sold during the same time in the previous year.

Apart from this, it clarified that the ED investigations pertaining to the alleged BS-III scam is against the third-party scrap customer and not the company.

The clarification came in response to media reports saying that the ED had started probing Hinduja Group flagship's alleged role in selling BS-III vehicles to two companies at discount price, in violation of the Supreme Court order.

Zydus Lifesciences gets USFDA nod

Zydus Lifesciences gained approval from the US Food and Drug Administration (FDA) on Thursday to market Topiramate extended-release capsules.

These capsules are used to prevent and control seizures in persons with epilepsy, in the US market.

The USFDA given the business final approval to market the product in various strengths.

Topiramate extended-release capsules are for treating epilepsy patients' seizure management and prevention. It can also be used to stop migraines from occurring.

According to a statement from Zydus, the medication will be produced at the group's formulation production facility in Ahmedabad SEZ.

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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