Sensex and Nifty are trading lower; Hero MotoCorp, the big losers of the SBI
The Nikkei fell 0.8% while the Shanghai Composite climbed 1.9%. The Hang Seng is down 0.3%.
In U.S. equity markets, Wall Street indexes saw another bumpy rise on Friday, with the Nasdaq recouping much of the ground it lost in the previous session as Amazon’s positive earnings plateaued for a week. mixed numbers on big tech.
The Dow Jones ended flat while the Nasdaq Composite rebounded 1.6%.
At home, Indian stock markets are trading on a negative note. Benchmarks started on a subdued note but fell as the session progressed, extending the previous session’s weakness and tracking FII activity.
Net-net, Foreign Portfolio Investors (REITs) Turned Domestic Stock Sellers to the tune of ₹22.7 billion, data available with NSE suggested. DIIs have transformed net sellers by up to ₹6.2 billion, the data suggests. REITs withdrew ₹36.3 billion shares from February 1 to 4.
Weak global signals amid soaring US bond yields also dampened sentiment.
Market participants will be watching shares of PolicyBazaar, Tube Investments of India, Union Bank of India, TVS Motor Company and Minda Industries as these companies report their December quarter results today.
The BSE Sensex is down 286 points. Meanwhile, the NSE Nifty is trading down 53 points.
Hindalco and ONGC are among the top gainers today. Hero MotoCorp, on the other hand, is among the big losers today.
The BSE Mid Cap Index is up 0.2% while the BSE Small Cap Index is trading up 0.4%.
Sector indices are trading mixed, with stocks in the IT and financial sectors under selling pressure.
Real estate stocks and oil and gas stocks, on the other hand, are trading green.
Shares of Deepak Fertilizers and GMDC hit their highest level in 52 weeks today.
Dr Reddy’s labs fell 1% after rising more than 5% in early trading after India’s Drug Controller General (DCGI) granted approval for the single-shot Sputnik Light vaccine for a restricted emergency use in India.
The rupee is trading at 74.71 against the US dollar.
Gold prices are trading up 0.3% at ₹48,050 for 10 grams.
Meanwhile, silver prices are trading up 1.2% to ₹61,582 per kg.
Gold rose today as growing concerns over widening price pressures boosted the metal’s appeal as an inflation hedge and helped cushion pressure from rising Treasury yields US after a surprisingly upbeat jobs report.
Crude oil prices edged higher, reversing earlier losses as investors remained bullish on expectations that global supply would remain tight as demand picks up and shrug off signs of progress in U.S.-Iran nuclear talks.
In energy news, NTPC is among the hottest stocks today.
State-run power giant NTPC said on Saturday that its 74.88MW power generation capacity was commercially operational at the Fatehgarh solar PV project in Jaisalmer in Rajasthan.
Here’s what the company said in an exchange filing,
Following successful commissioning, the second part of the 74.88 MW capacity out of the 296 MW Fatehgarh solar PV project in Jaisalmer, Rajasthan is declared in commercial operation from 00:00. of February 5, 2022.
With this, the commercial capacity of NTPC and NTPC Group became 54,377.30MW and 67,832.30MW respectively.
Note that last week, NTPC delivered strong results for the December quarter with PAT outperforming 5% on better execution.
NTPC is developing 1.3 GW thermal Talcher (additional 5.3 GW under study) which will be based on carbon/blue carbon capture technology.
Company management is confident of 15 GW of renewables capacity by FY2025 (7.5 GW being implemented) – a 40% capex mix to renewables. NTPC has the unique advantage of leveraging its thermal power plants to blend renewables and provide RTC power.
NTPC’s stock price is currently trading down 0.2%.
In other power sector news, Tata Power is in advanced talks with investors to raise up to $600-700 million for the renewables sector at an equity valuation of around 6-7 billions of dollars.
The deal is at an advanced stage and is expected to close in the coming weeks as the salt-to-steel conglomerate seeks to reduce debt and strengthen its balance sheet ahead of a planned public offering of the power unit. alternative.
Last year, Tata Power decided to consolidate its entire renewable energy portfolio under one umbrella entity. This includes the operation of energy assets in the pipeline, charging stations, rooftop solar, micro-grids, panel manufacturing, engineering, procurement and construction.
The company had also planned to opt for an InVit. He had conducted negotiations with Malaysia’s Petronas for a potential investment of up to $2 billion, but the talks could not result in a deal.
Tata Power owns one of India’s largest renewable energy companies with an operational capacity of 2.6 GW comprising wind and solar in a ratio of 32:68 spread across 11 states.
Speaking of Tata Power, take a look at the chart below which shows the stellar run it has had on the stock exchanges.
Turning to news from the automotive sector, Maruti Suzuki expects production activity to improve in the current quarter with a gradual improvement in the supply of critical electronic components.
The country’s largest automaker is also exploring ways, including bolstering its SUV portfolio, to return to 50% market share in the domestic passenger vehicle segment in the coming years.
The automotive major’s combined market share is currently around 44% as it continues to struggle in the mid-size SUV segment.
In a call with analysts, the company had said that about 90,000 vehicles could not be produced in the third quarter due to global shortages of semiconductors corresponding mainly to domestic models.
At present, MSI has a cumulative production capacity of around 5.5 lakh units per quarter or around 22 lakh units per year at its manufacturing plants in Haryana and Gujarat.
Maruti Suzuki is sitting on a backlog of around 2.6 lakh units with CNG units comprising 1.17 lakh units.
On a question related to market share, the company said it would be difficult to exceed the 50% mark by the end of this fiscal year due to production constraints.
The Maruti Suzuki share price is currently trading down 0.1%.
(This article is syndicated from equitymaster.com)
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