Sensex Ends 222 Points Higher; Asian Paints and Axis Bank Among Top Nifty Gainers
Closing

Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices continued their positive momentum for the fourth straight day and attained record highs in today's session amid supportive global market sentiment.

At the closing bell, the BSE Sensex stood higher by 222 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 57 points (up 0.4%).

Asian Paints and Axis Bank were among the top gainers today.

Divi's Labs and Coal India, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,879, up by 43 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.6% and 0.4%, respectively.

Sectoral indices ended on a positive note with stocks in the realty sector and banking sector witnessing most of the buying interest.

Healthcare and power stocks, on the other hand, witnessed selling pressure.

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Shares of Gujarat Gas and Mahindra Lifespace hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today as investors awaited a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the US monetary policy outlook.

The Hang Seng and the Shanghai Composite ended the day down by 0.7% and 0.9%, respectively.

The Nikkei ended up by 1% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading down by 5 points.

The rupee is trading at 73.31 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 48,613 per 10 grams.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how the upcoming Robin Hood Conference will have an impact on your trades, in his latest video for Fast Profits Daily.

No, this doesn't have anything to do with Robin Hood traders. It's just as important though...especially if you are a commodity trader.

After five years, commodities are back on the agenda at this mega conference. And there will be some big names in attendance who can move the markets.

In the video below, Vijay will tell you why this conference can impact your wallet.

Tune in to the video below to find out more:

Anupam Rasayan Clears Debt from Recent IPO Proceeds

In news from the chemicals sector, Anupam Rasayan was among the top buzzing stocks today.

Chemicals maker Anupam Rasayan has repaid debt worth Rs 5.3 bn from the net proceeds of its recently completed initial public offering (IPO) and will clear an additional Rs 300 m debt by next quarter ending September 2021.

The company had raised Rs 7.6 bn through its IPO.

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Speaking to PTI, Anupam Rasayan chief financial officer (CFO) and spokesperson Afzal Malkani said the company's total debt is about Rs 8.4 bn.

The objective of the IPO was to raise Rs 7.6 bn, out of which Rs 5.6 bn was for repayment of the debt and the rest was for general corporate purposes, he said.

The company has repaid Rs 4.7 bn debt as on 31 March 2021 and another Rs 600 m was repaid in the current quarter, he said and added that so far, a total of Rs 5.3 bn debt has been cleared by the company.

A total of Rs 5.6 bn debt out of Rs 8.4 bn, will be cleared by the next quarter and the remaining debt will be on the company's books, he added.

Anupam Rasayan share price ended the day up by 0.1% on the BSE.

Moving on to news from the auto sector...

Tata Motors to Raise Up to Rs 5 Bn Via Securities

Tata Motors on Monday said its board has approved a proposal to raise up to Rs 5 bn through the issue of securities on a private placement basis.

A meeting of the duly authorised committee has approved subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of

face value Rs 1 m each, aggregating up to Rs 5 bn, the auto major said in a regulatory filing.

The Mumbai-based company, however, did not share details as to how it plans to use the capital.

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Tata Motors, a US$ 35 bn organisation, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

Part of the US$ 113 bn Tata group, the company is India's largest automaker with operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on 31 March 2020.

How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.

Tata Motors share price ended the day down by 0.9% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


Sensex Trades Over 200 Points Higher, Dow Futures Up by 84 Points
12:30 pm

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

The BSE Sensex is trading up by 283 points, up 0.5% at 52,834 levels.

Meanwhile, the NSE Nifty is trading up by 76 points.

Asian Paints and ONGC are among the top gainers today. Divi's Laboratories and Coal India are among the top losers today.

The BSE Mid Cap index is trading up by 0.6%.

The BSE Small Cap index is trading up by 0.7%.

On the sectoral front, stocks from the real estate sector, are witnessing most of the buying interest.

On the other hand, stocks from the power sector, are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 22 points (up 0.2%) while Dow Futures are trading up by 84 points (up 0.3%).

The rupee is trading at 73.28 against the US$.

Gold prices are trading up by 0.3% at Rs 48,447 per 10 grams.

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Gold prices remained weak in Indian markets today amid a recent downtrend in international rates. On MCX, gold slipped to Rs 48,493 per 10 grams in early trade, extending losses to the third day. In the previous session, gold had dipped 0.8%.

Note that gold has failed to hold its gains after hitting five-month highs of Rs 49,700 earlier this month. In August last year, gold had touched a record high of Rs 56,200.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

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Moving on to stock specific news...

Among the buzzing stocks today is Amara Raja Batteries.

Amara Raja Batteries (ARBL) on 14 June announced the expansion of its lead-acid batteries business and the establishment of a new energy strategic business unit encompassing lithium cell and battery pack, EV chargers and energy storage systems.

"The company is well poised to build on its strengths and create multiple new growth engines in new energy space," said Vice Chairman Jayadev Galla.

Mr Jayadev Galla is poised to become the new Chairman as Founder Chairman Ramachandra Galla has decided not to seek reappointment after 36 years at the helm.

The company's board of directors also inducted gen-next leaders Harshavardhana Gourineni and Vikramaditya Gourineni as Executive Directors to actively drive the transition to the 'Energy & Mobility' initiative.

S Vijayanand, with his proven track record of performance, will take charge as President (New Energy).

Jayadev Galla said the board unanimously believes new energy will provide substantial thrust over the coming decade. However, there remains a strong conviction on the long-term potential of the lead-acid batteries business.

The vital role played by lead-acid technology across a variety of applications provide significant growth opportunity in both the domestic and international markets. On the other hand, the emergence of lithium as an alternative energy storage technology opens up new and exciting growth opportunities.

Here's what he said in a statement -

  • The ARBL board has decided to future-proof our business by repositioning ARBL as an energy and mobility player. The board believes that ARBL has to invest in a portfolio of businesses to maintain its technological and business leadership.

ARBL also plans to invest in a bouquet of products and services to accelerate its transformation to an energy and mobility solutions provider.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, Amara Raja Batteries shares were trading up by 1.1% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how the upcoming Robin Hood Conference will have an impact on your trades, in his latest video for Fast Profits Daily.

No, this doesn't have anything to do with Robin Hood traders. It's just as important though...especially if you are a commodity trader.

{inlineads3}

After five years, commodities are back on the agenda at this mega conference. And there will be some big names in attendance who can move the markets.

In the video below, Vijay will tell you why this conference can impact your wallet.

Tune in here to find out more:

Moving on to news from the finance sector...

SBI Cards and Payment Services Raises Rs 5 Bn By Issuing Bonds

SBI Cards and Payment Services on 14 June said that it has raised Rs 5 bn by issuing bonds.

Its board of directors has approved the allotment of 5,000 fixed-rate, unsecured, rated, taxable, redeemable and senior non-convertible debentures aggregating to Rs 5 bn on a private placement basis, SBI Cards said in a regulatory filing.

The coupon on the bonds is 5.55% per annum. The bonds have been allotted on 14 June 2021.

The company said the bonds are set to mature on June 14, 2024.

It will list the bonds on the wholesale debt market segment of the BSE.

SBI Cards and Payment Services previously known as SBI Cards is a payment solutions provider in India. SBI Cards was launched in October 1998 by the State Bank of India, India's largest bank, and GE Capital.

In December 2017, State Bank of India and The Carlyle Group. acquired GE Capital`s stake in the company.

We will keep you posted on more updates from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.


Indian Share Markets Open at Record Highs; IndusInd Bank & Asian Paints Top Gainers
09:30 am

Asian share markets are mixed today as investors awaited a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the US monetary policy outlook.

The Hang Seng is down 0.8% while the Nikkei is up 1.1%. The Shanghai Composite is down 0.9%.

In US stock markets, Wall Street indices ended at record highs helped by tech names.

The Nasdaq Composite rose 0.7% while the S&P 500 index gained 0.8%. The Dow Jones Industrial Average ended on a flat note.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

Jubilant FoodWorks, PFC, Whirlpool, LIC Housing, Easy Trip Planners and Lemon Tree Hotels are among companies that will announce their March quarter earnings today.

The BSE Sensex is trading up by 260 points. Meanwhile, the NSE Nifty is trading higher by 75 points.

Titan is among the top gainers today. Bajaj Auto, 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 0.5% and 0.7%, respectively.

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Barring metal and power stocks, all sectoral indices are trading in green with stocks in the consumer durables sector and IT sector witnessing most of the buying interest.

Shares of Avenue Supermarts and Tata Consumer hit their 52-week highs today.

The rupee is trading at 73.20 against the US$.

Gold prices are trading down by 0.1% at Rs 48,498 per 10 grams.

Meanwhile, silver prices are trading down by 0.8% at Rs 71,296 per kg.

Speaking of stock markets, Brijesh Bhatia talks about metal stock, in his latest video for Fast Profits Daily.

As per Brijesh, metal stocks are all set to kick off the next leg of their rally.

Tune in to the below video, to know why Brijesh is bullish on metals.

In news from the mining sector, Coal India is among the top buzzing stocks today.

State-run Coal India's net profit fell 32% to Rs 76.4 bn on a total income of Rs 938.2 bn in financial year 2020-21.

The PSU coal miner had booked a net profit of Rs 112.8 bn on a total income of Rs 1,025.3 bn in the same period last year.

Sales revenue in financial year 2020-21 was down 7.5% as both production and offtakes were down by 6 MT and 7 MT at 596 MT and 574 MT, respectively.

For the quarter ended March 2021, the company posted a net profit of Rs 24.7 bn.

Total comprehensive income for the quarter stood at Rs 43.7 bn.

Besides, the company's board recommended a final dividend of Rs 3.50 per share.

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The government will receive Rs 14.3 bn as dividend from the company.

The total dividend payout for the year gone by stands at Rs 16 per share or 160%.

The government is the largest shareholder with control of 66.1% in Coal India. Its shareholding in the company reduced from 71% due to continuous dilution in small tranches since March 2019.

The company's dividend policy and high capital expenditure has led to a sharp drop in the free cash position of the world's largest miner.

Coal India's free cash balance dropped to Rs 173.1 bn this year from around Rs 280 bn in 2019-20 as its cash flow generation could not match the outflow due to lower sales trend last year owing to slowdown and Covid-19 related disruptions.

Coal India share price has opened the day down by 0.4%.

Speaking of Coal India, have a look at the chart below to see how the stock has performed over the past one year.

Over the last one year, the company's share price is up 12.4%.

The share touched its 52-week high of Rs 164.9 last week on 11 June.

How the stock performs in the coming months remains to be seen.

Moving on, Adani group stocks are in focus today.

As per a leading financial daily, at least four foreign funds are in the limelight for their investment in Adani group companies.

The four funds include Elara India Opportunities Fund, Albula Investment, APMS Investment and Cresta Fund.

They have investment in a number of domestically listed firms besides the Adani group firms.

However, the value of their holdings in Adani group stocks is between 94.7% and 98%, raising eyebrows over their investment decisions.

Albula, APMS and Cresta are registered as FPI under Category I with the markets regulator.

The group said all three funds have been investors for over a decade and their ownership in other group firms is due to demergers.

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A large portion of the 25% public float is with funds such as Elara, Albula, LIC, Opal, APMS and Cresta. As a result, market experts say the actual free float is low, which could potentially hamper fair price discovery.

Note that yesterday, all Adani group stocks tumbled following reports accounts of three investor funds had been frozen.

The group later clarified saying the reports about NSDL freezing the funds' accounts as "blatantly erroneous".

How the above developments pan out remains to be seen.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


SGX Nifty Trades Flat, India's WPI Inflation, Info Edge's New Acquisition, and Buzzing Stocks Today
Pre-Open

Indian share markets ended on a positive note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 77 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 13 points (up 0.1%).

Divi's Lab and Tata Motors were among the top gainers.

Adani Ports and Coal India, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended down by 0.4% and 0.3%, respectively.

Sectoral indices ended on a mixed note with stocks in the energy sector and IT sector witnessing most of the buying interest.

Power stocks, on the other hand, witnessed selling pressure.

At 8:00 am today, the SGX Nifty was trading down by 20 points, or 0.1% lower at 15,817 levels. Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

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Gold prices for the latest contract on MCX were trading down by 1% at Rs 48,432 per 10 grams at the time of closing stock market hours yesterday.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report shares how you can profit from the next leg of the metals rally, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

Top Stocks in Focus Today

Among the buzzing stocks today will be Eicher Motors.

Mid-sized motorcycle maker Royal Enfield is expecting the current fiscal to be one of the best for the company in terms of new model launches as it looks to drive in an array of new products for domestic and international markets.

The company, which is part of Eicher Motors, noted that it has a rich pipeline of products under development which could hit the market in the coming days.

Royal Enfield current model lineup comprises Meteor, Interceptor, Continental GT, Himalayan, Classic and Bullet.

In an analyst call, Royal Enfield CEO Vinod K Dasari said,

  • In fact, if I may say so, this year will probably be the highest number of new models that you have ever seen from Royal Enfield being launched in a year and that's the beginning of the pipeline. There's a whole bunch that is happening and we are truly excited about it.

The company would continue to have one new model every quarter for the time being due to COVID-related disruptions, he added.

On sales network expansion, Dasari said that it would be a combination of big and small stores depending on the capacity of that region to take them.

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Elaborating on the new product scenario, Eicher Motors MD and CEO Siddhartha Lal said that Royal Enfield is taking extreme care in developing new models so that they can match up to the global competition.

Info Edge share price will also be in focus today.

Leading consumer internet company Info Edge, which operates recruitment portal Naukri.com said that it has entered into an agreement to acquire 100% of the share capital of Zwayam Digital.

Bengaluru-based Zwayam Digital operates Zwayam, an artificial intelligence and machine learning-powered recruitment management software platform.

Info Edge also operates 99acres.com and education portal Shiksha.

With this acquisition, Info Edge is aiming to streamline and accelerate digital transformation in talent management. Under the agreement, Zwayam will leverage the Info Edge experience, ecosystem and resources and invest more in the business to serve both existing and future customers even better.

Founded by Joseph John, Nicel KM, Divya T and Shreyas Tonse in 2015, Bengaluru-based Zwayam powered the digital transformation of the recruitment process of many enterprises.

Concerning the acquisition, Zwayam CEO Joseph John said,

  • We are very much excited and look forward to the next phase of our journey with Info Edge. Info Edge will provide us with the necessary expertise and resources we needed to support our customers better. Together we would be able to serve 100% of our customer needs.

India's May WPI Inflation Accelerates to 12.9%

The wholesale price-based inflation (WPI) accelerated to a record high of 12.9% in May, on rising prices of crude oil and manufactured goods.

Low base effect also contributed to the spike in WPI inflation in May 2021.

In May 2020, WPI inflation was down to 3.4%.

This is the fifth straight month of uptick seen in the WPI based inflation. In April 2021, WPI inflation hit double digit at 10.5%.

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Inflation in fuel and power basket spiked to 37.6% during May, against 20.9% in April.

In manufactured products, inflation stood at 10.8% in May, against 9% in the previous month.

However, inflation in food articles eased marginally to 4.3% in May, even as onion prices spiked. Inflation in onion stood at 23.2% in May, against (-) 19.7% in April.

The Reserve Bank of India (RBI) in its monetary policy earlier this month kept interest rates unchanged at record lows and committed to maintain an accommodative policy stance to support growth.

RBI pegged retail inflation at 5.1% in this fiscal ending March 2022, with upside risks from higher commodity prices and re-emergence of higher supply constraints amidst the current phase of lockdowns.

Amara Raja Batteries Announces Energy and Mobility Playbook

Amara Raja Batteries (ARBL) announced energy and mobility as its strategic focus going forward to capitalise on emerging opportunities.

It announced expansion of lead acid batteries business and establishment of a new energy strategic business unit encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services.

This move by Amara Raja Batteries comes against the backdrop of some of India's top conglomerates, renewable energy firms and battery makers seeking to take advantage of the government's Rs 181 bn production linked incentive (PLI) scheme to make lithium-ion cells.

Through the scheme, the government is looking to attract investments worth Rs 450 bn.

The ACC (advanced chemistry cell) PLI scheme announced recently by government of India provides a significant impetus for building a domestic supply chain for lithium and other advanced cell chemistries to serve the fast-growing electric vehicle (EV) and renewable energy sectors.

The lead acid battery major, among other companies such as BHEL, Exide Industries, Greenko Group, Renew Power, Reliance Industries, Adani Group, Tata Chemicals, Larsen & Toubro, and a joint venture (JV) led by Japan's Suzuki Motor Corp. have shown interest in building lithium-ion cell manufacturing plants in India.

How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.