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?  

L&T, ReNew Power Join Hands for Green Hydrogen Biz, Cadila's Covid Vaccine, and Buzzing Stocks Today
Fri, 3 Dec Pre-Open

L&T, ReNew Power Join Hands for Green Hydrogen Biz, Cadila

Indian share markets ended on a strong note yesterday.

Benchmark indices witnessed heavy buying for the second consecutive session, even as world markets grappled with Omicron fears.

At the closing bell yesterday, the BSE Sensex stood higher by 777 points (up 1.4%).

Meanwhile, the NSE Nifty closed higher by 235 points (up 1.4%).

Adani Ports and Power Grid Corp were among the top gainers.

Cipla and ICICI Bank, on the other hand, were among the top losers.

The broader indices finished with decent gains.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1% and 1.1%, respectively.

--- Advertisement ---
Rahul Shah's Lazy Millionaire Summit Is Now LIVE...

Discover the Master Key to Turning Every Market Crash to Your Advantage

Hurry up! Join in now...

Click Here to Join the Lazy Millionaire Summit
------------------------------

Sectoral indices ended on a positive note with stocks in the power sector, IT sector and oil& gas sector witnessing buying interest.

Shares of Tech Mahindra and Gujarat Fluorochemicals hit their respective 52-week highs.

At 8:25 am today, the SGX Nifty was trading down by 51 points, or 0.3% lower at 17,398 levels. Indian share markets are headed for a negative opening today following the negative trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 47,783 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in his latest video, Research Analyst at Equitymaster Aditya Vora analyzes which is better: Tata Motors or Maruti Suzuki?

With both companies having a strong parentage, find out which company could rule the domestic passenger car market in the next decade.

Top Stocks in Focus Today

Among the buzzing stocks today will be Larsen & Toubro.

Construction major Larsen & Toubro (L&T) and ReNew Power (ReNew) have agreed to tap the emerging green hydrogen business in India.

The companies will jointly develop, own, execute and operate green hydrogen projects in India.

Green Hydrogen can enable the world to meet its net zero emissions targets.

S N Subrahmanyan, chief executive officer and managing director of Larsen & Toubro, said the partnership is a significant milestone in the journey towards building a green energy portfolio for L&T.

Equitymaster's Stock Screener: Identifying High-Potential Stocks Has Never Been this Easy

It is anticipated that green hydrogen demand in India for applications such as refineries, fertilisers and city gas grids will grow up to 2 million tonne per annum by 2030 in line with the nation's green hydrogen mission. This would call for investments upward of US$60 bn.

Sumant Sinha, chairman and chief executive officer at Gurgaon-based ReNew, said,

  • Green hydrogen will be a key driver of the transition to cleaner sources of energy. I expect this partnership to set new benchmarks in the Indian renewable energy space and look forward to working together with L&T.

Many countries, including India (through its national hydrogen mission), have announced specific policy interventions to push for the widespread adoption of green hydrogen.

Bajaj Auto share price will also be in focus today.

Bajaj Auto sold 3.4 lakh motorcycles in the domestic and export markets in November 2021, becoming the highest-selling motorcycle manufacturer for the month.

This is the first time that Bajaj has topped the monthly sales data if one discounts April 2021 when the industry was struggling with the Covid second wave and thus the readings were skewed.

Hero MotoCorp, which generally tops the list, saw its sales fall 41% in November with total wholesales at 3.5 lakh units during the month. Two-wheeler companies, in general, have been struggling, but Hero's problems have been aggravated because it has the largest presence in the rural market.

For Bajaj, exports in November (1.9 lakh units) continued to power their sales performance. Domestic sales stood at 1.4 lakh units.

Rakesh Sharma, Executive Director at Bajaj Auto said,

  • Our presence in over 70 countries has allowed us to deliver a steady performance despite the volatility in the environment.

The recently launched Pulsar F250 and N250, have ensured that the company is offering a full spectrum of sports motorcycles, from entry-level 125 cc to the top-end 250 cc models.

In the exports market, Nigeria, Egypt and Mexico, as per a company release, have achieved their highest ever motorcycle retail sales.

--- Advertisement ---
There is a new paradigm shift currently unfolding across the global economic landscape...

And at the heart of this massive SHIFT is...

INDIA!

India is on the verge of a multi-trillion-dollar rebirth that could potentially mint countless new millionaires...

If you are on the right side of this mega shift, then it could be your biggest opportunity to build potentially massive wealth over the long term.

Click here to find all the details...
------------------------------

Raymond Group Plans to Soon List JK Files

Raymond said that its board approved listing of its engineering and auto parts business arm JK Files & Engineering (JKFEL) via initial public offering (IPO) in an aim to unlock value for its shareholders.

The IPO will comprise a pure offer for sale of up to Rs 8 bn, subject to requisite regulatory approvals and market conditions, the firm said in a notice to exchanges.

In a notice to BSE, Raymond said,

  • In this regard, the board of directors of the company, at its meeting held on 1 December 2021, approved the offer for sale (OFS) for Rs 8 bn subject to such variation as permitted under applicable law in the IPO through book building process which will help deleverage Raymond.

The shareholding of the company in JKFEL shall stand reduced by such number of shares as may be tendered for sale in the OFS. However, post-IPO, JKFEL shall continue to remain a material subsidiary of the company.

The firm in its September quarter earnings said that its engineering business comprising tools and hardware and auto components have achieved the significant milestone in terms of highest sales ever in a quarter with strong growth in the exports market and well supported by sustained growth in the domestic market.

Cadila's Covid Vaccine to be Introduced in 7 States First

India will initially introduce Cadila Healthcare's ZyCoV-D Covid-19 vaccine in seven states, including Maharashtra and West Bengal.

The seven states are Bihar, Jharkhand, Maharashtra, Punjab, Tamil Nadu, Uttar Pradesh and West Bengal.

The seven states have been asked to plan sessions based on the PharmaJet injector and identify vaccinators to be trained for using it for vaccination.

Pharmaceutical company Zydus Cadila will supply 10 m doses of ZyCoV-D, the world's first plasmid DNA Covid vaccine, to the centre by this month. The centre has already placed an initial order for one crore doses of the vaccine.

Recently, the central drugs standard control organisation (CDSCO) has approved ZyCoV-D for restricted use in emergency situation in the age group 12 years and above.

ZyCoV-D is the first DNA plasmid vaccine in the world for human use, developed indigenously by the company against the Covid-19 virus.

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 "L&T, ReNew Power Join Hands for Green Hydrogen Biz, Cadila's Covid Vaccine, and Buzzing Stocks Today". Click here!

  

Stock Market Updates

Sensex Extends Fall, Slumps 1,500 Points; Bajaj Finance, Tech Mahindra and Tata Steel Plunge 5% (Today's Market)

Jan 24, 2022 01:30 pm

The BSE Sensex fell over 1,500 points while the NSE Nifty dipped to 17,150-mark.

Sensex Tanks 650 Points Tracking Weak Global Cues, Nifty Below 17,450; Metal & IT Stocks Bleed (Today's Market)

Jan 24, 2022 10:30 am

Indian share markets follow global cues and trade lower. The BSE Sensex is down 540 points, while the Nifty is trading lower by 181 points.

SGX Nifty Down 122 Points; Indicates Gap-Down Opening for Indian Stock Markets (Today's Market)

Jan 24, 2022 SGX Nifty

Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.

SBI Life Insurance Quarterly Results, Vedanta's Bid for BPCL Stake, and Buzzing Stocks Today (Today's Market)

Jan 24, 2022 Pre-Open

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

View More Indian Share Market News

Most Popular

Tata Steel vs SAIL: Which Stock is Better?(Views On News)

Jan 13, 2022

With government initiatives set to boost the steel sector, find out who has a better chance of coming out on top.

Watch Out for these 4 Indian Companies Betting Big on EV Supply Chain(Views On News)

Jan 11, 2022

The upside in supply chain players could be huge but a delay in the transition to EVs, or any policy related hiccups could end the momentum.

These 5 Penny Stocks are Held by Rakesh Jhunjhunwala. Worth a Look?(Views On News)

Jan 18, 2022

Rakesh Jhunjhunwala is holding these penny stocks in his portfolio for several years now.

Tech Mahindra's CTC Acquisition: Too Expensive?(Views On News)

Jan 18, 2022

Tech Mahindra's acquisition of European IT-company fails to excite investors.

Time to Buy Energy Stocks(Fast Profits Daily)

Jan 14, 2022

Energy is a sector that looks set to take off. It's time to get in.

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


Jan 24, 2022 (Close)

MARKET STATS