Tech Enhanced Investing

Indian stock indices remained slightly positive during morning trading, buoyed by gains in heavyweights like Kotak Mahindra Bank, JSW Steel, and HDFC Bank. The market received a boost from comments by Oil Minister Hardeep Singh Puri, who suggested that Donald Trump’s potential return to the White House could increase global energy supplies and lower prices, benefiting India.  

The Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra highlighted India's strides in digitalization, noting that the digital economy currently accounts for 10% of the GDP and could grow to 20% by 2026. He emphasized India’s leadership in financial technology and its significant adoption of digital services by banks.  

Market Highlights:  
- Sensex: Trading at 77,781.38, up 90.43 points (0.12%), with 16 stocks advancing and 14 declining.  
- Nifty: Trading at 23,573.20, up 14.15 points (0.06%), with an even split of 25 advancing and 25 declining stocks.  

Sectoral Performance:  
- Top Gainers: Realty (+1.56%), Consumer Discretionary (+1.27%), Auto (+1.11%), Power (+1.02%).  
- Top Losers: FMCG (-0.59%), TECK (-0.13%), IT (-0.08%).  

Top Performers:  
- Sensex Gainers: Kotak Mahindra Bank (+1.29%), JSW Steel (+1.00%), HDFC Bank (+0.87%).  
- Nifty Gainers: Eicher Motors (+7.68%), Hero MotoCorp (+1.56%), Kotak Mahindra Bank (+1.08%).  

Global Market Trends:  
Asian markets mostly traded lower amid concerns over U.S. policy impacts on inflation and interest rates:  
- Shanghai Composite (-0.32%)  
- Hang Seng (-0.88%)  
- Jakarta Composite (-0.63%)  

However, Nikkei 225 edged up (+0.01%), and KOSPI gained (+0.35%).  

India’s evolving digital infrastructure and fintech innovations continue to create growth opportunities, as highlighted by the RBI. The outlook remains optimistic for long-term digital economic expansion.

Indian stock indices, Sensex and Nifty, remained lower in early afternoon trading amid a surge in wholesale inflation and weak trends from other Asian markets. India's Wholesale Price Index (WPI) inflation rose to 2.36% in October 2024, up from 1.84% in September, driven by higher costs in food items, crude oil, natural gas, and electricity. Concerns were further fueled by a WTO report indicating an increase in trade restrictions among G20 countries between October 2023 and October 2024, with 91 new trade-restrictive and 141 trade-facilitating measures implemented, mainly on imports.

Globally, Asian markets traded predominantly in red, echoing Wall Street’s mixed performance. In India, shares of companies in mining and minerals drew attention as CareEdge advised securing long-term mineral supplies and recycling due to India's limited domestic reserves of lithium, cobalt, nickel, and other essential minerals. This, according to the report, could reduce import-related risks and provide environmental benefits.

Currently, the BSE Sensex trades at 77,508.01, down by 182.94 points or 0.24%, with 6 stocks advancing and 24 declining. Broader indices were positive; the BSE Midcap index rose 0.60%, while the Smallcap index climbed 1.09%. Leading sectoral gains were seen in Realty, Consumer Discretionary, Auto, and Metal, while FMCG, PSU, Oil & Gas, and Consumer Durables indices witnessed declines.

Top Sensex gainers included HDFC Bank, Reliance Industries, and Kotak Mahindra Bank, while Hindustan Unilever, ITC, and Adani Ports & SEZ were among the top losers. On the Nifty, Eicher Motors, Hero MotoCorp, and HDFC Life Insurance led the gains, while BPCL, Hindustan Unilever, and Tata Consumer Products were the major laggards.

Meanwhile, CareEdge’s report highlighted India’s growing need for advanced batteries, particularly lithium-ion (Li-ion) batteries, to support the country's renewable energy and electric vehicle targets by 2030. Demand for Li-ion batteries is projected to reach 54 GWh by FY27 and 127 GWh by FY30, primarily driven by electric vehicles and energy storage needs. Consequently, import dependency for Li-ion batteries is expected to reduce to around 20% by FY27 as domestic production scales up.

Across Asia, markets saw mixed results: Hong Kong’s Hang Seng fell 427.93 points, Jakarta Composite dropped 43.94 points, Shanghai Composite was down 62.7 points, while Japan's Nikkei slipped by 185.96 points. In contrast, Straits Times and KOSPI managed slight gains.

Local stock indices traded in red during the late afternoon session, impacted by concerns over India’s widening trade deficit and rising inflation. The trade deficit swelled to $27.14 billion in October from $20.8 billion in September, as import growth outpaced exports. Additionally, October's wholesale price index (WPI) inflation rose to 2.36%, up from September's 1.84%, driven by higher prices in food items, crude oil, natural gas, and electricity.

Global markets showed mixed trends: Asian stocks mostly traded lower as Federal Reserve officials highlighted inflation risks, while European stocks traded mostly positive in anticipation of upcoming Eurozone growth data. However, bond yields spiked amid inflationary concerns tied to Trump’s policies.

The BSE Sensex was down 78.79 points or 0.10% at 77,612.16, fluctuating between 77,424.81 and 78,055.52, with 24 stocks declining and 6 advancing. Broader market indices traded in green, with the BSE Mid Cap index up 0.39% and the Small Cap index rising by 0.83%.

Leading gainers in the BSE sectoral indices included Realty up by 0.94%, Consumer Discretionary by 0.69%, Auto by 0.48%, Telecom by 0.47%, and Healthcare by 0.31%. Conversely, FMCG dropped by 1.17%, Utilities by 0.67%, PSU by 0.66%, Oil & Gas by 0.39%, and Power by 0.27%.

On the Sensex, top performers were Reliance Industries (up 1.53%), Kotak Mahindra Bank (up 1.17%), HDFC Bank (up 1.00%), Tech Mahindra (up 0.74%), and Asian Paints (up 0.44%). Major decliners included Hindustan Unilever (down 2.51%), Power Grid (down 2.01%), NTPC (down 2.01%), Adani Ports (down 1.72%), and Nestle (down 1.54%).

The Nifty 50 also traded lower, slipping 25.30 points or 0.11% to 23,533.75, with 17 stocks advancing and 33 declining. Top gainers on Nifty were Eicher Motors, up 5.68%, and Hero MotoCorp, up 1.85%.

In Asia, markets were largely in red as Hang Seng fell 1.99%, Nikkei 225 dropped 0.48%, and Shanghai Composite lost 1.76%. European indices mostly gained, with France’s CAC rising by 0.24% and Germany’s DAX by 0.65%, while the UK’s FTSE 100 slipped slightly by 0.02%.

WPI inflation saw a jump in October as food prices and crude oil pushed the primary articles index up by 2.35% from the previous month. However, the Fuel & Power index saw a slight decline, while manufactured products, a significant part of WPI, rose by 0.49%.

Indian stock markets witnessed a sharp decline on Wednesday as retail inflation hit a 14-month high of 6.21% in October, surpassing the Reserve Bank of India's tolerance level, primarily due to soaring food prices. Today, markets are expected to start cautiously, influenced by mixed signals from Asian peers. Investor sentiment may remain cautious as data from exchanges indicated that Foreign Institutional Investors (FIIs) sold equities worth Rs 2,502.58 crore on Wednesday.

On a policy front, Chief Economic Advisor V. Anantha Nageswaran highlighted the importance of strengthening India's economic appeal through internal reforms and supporting small and medium enterprises (SMEs). He emphasized India’s need to remain resilient to global changes, particularly those in the U.S., by focusing on deregulation and sustainable growth strategies. Meanwhile, there’s some optimism with S&P Global Ratings’ view that India’s expanding supply capacity could help ease inflationary pressures, a situation seen as manageable by the Reserve Bank of India.

Additionally, tax data highlights a reduction in the tax burden on middle-income individuals (earning below Rs 20 lakh annually), while high-income earners (above Rs 50 lakh) have seen a considerable increase in tax contributions over the last decade. The mineral sector could see some positive movement following a memorandum of understanding between the Ministry of Mines and the International Energy Agency (IEA) for cooperation on critical minerals, ensuring India access to key data and strategic insights.

Elsewhere, Asian markets opened mixed as U.S. CPI data for October aligned with expectations, fostering speculation about a potential rate cut by the Federal Reserve in December. U.S. markets closed mainly positive on Wednesday, supported by these inflation readings.

In India, the equity benchmarks extended their losses on Wednesday, with FIIs selling off Rs 3,024.31 crore worth of shares. Inflationary concerns, weak quarterly earnings, and broad-based selling, particularly in stocks like Tata Steel and Mahindra & Mahindra, weighed on the markets. Traders largely ignored positive reports on India’s merchandise export growth and robust performance by public sector banks in H1FY25.

At closing, the BSE Sensex declined by 984.23 points, settling at 77,690.95, while the CNX Nifty dropped by 324.40 points, ending at 23,559.05.

Indian Hotels Company’s share price surged to Rs. 741.75, marking a 3.96% gain or a 28.25-point rise from its prior closing rate of Rs. 713.50 on the BSE.

The stock opened at Rs. 710.45 and has ranged from a low of Rs. 709.80 to a high of Rs. 742.75 in today's session, with 233,345 shares exchanged so far. The BSE group 'A' stock, with a face value of Rs. 1, recently hit a 52-week high of Rs. 748.20 on November 11, 2024, and a 52-week low of Rs. 408.90 on November 16, 2023. Over the past week, it’s traded between Rs. 748.20 and Rs. 694.00, bringing the company’s market capitalization to Rs. 1,05,362.45 crore.

Promoters currently hold a 38.12% stake in the company, with institutional and non-institutional investors holding 46.23% and 15.64%, respectively.

Indian Hotels Company (IHCL) has expanded its footprint by signing a new 45-room Ginger hotel on Jallandhar beach in Diu, part of the Union Territory of Daman and Diu. The property, set on three acres along the coastline, will offer scenic ocean views along with amenities like a fully-equipped gym, a conference hall, and a swimming pool.

Known under the brand Taj Hotels Resorts and Palaces, IHCL and its subsidiaries represent one of Asia’s largest hospitality chains, with operations across luxury, premium, midmarket, and budget hotel segments.

Eicher Motors shares are trading at Rs. 4919.45, marking a 7.20% increase, up by 330.35 points from the previous close of Rs. 4589.10 on the BSE.

The stock opened at Rs. 4697.55 and reached an intraday high of Rs. 4937.40 and a low of Rs. 4697.55. So far, 34,771 shares have been traded.

The BSE 'A' category stock, with a face value of Rs. 1, recorded a 52-week high of Rs. 5104.50 on September 27, 2024, and a 52-week low of Rs. 3564.00 on January 24, 2024. Over the past week, its high and low stood at Rs. 4937.40 and Rs. 4538.00, respectively. The company’s market capitalization is now Rs. 134,790.93 crore.

In terms of ownership, promoters hold a 49.10% stake, while institutions and non-institutional investors hold 41.38% and 9.52%, respectively.

For the quarter ending September 30, 2024, Eicher Motors reported a 7.61% increase in standalone net profit, reaching Rs. 1009.88 crore compared to Rs. 938.50 crore in the same quarter of the previous year. The total income rose by 7.99% to Rs. 4542.93 crore in Q2FY25, compared to Rs. 4206.67 crore in Q2FY24.

On a consolidated level, net profit rose by 8.27% to Rs. 1100.33 crore in Q2FY25, up from Rs. 1016.25 crore in the same quarter last year. The total income for Q2FY25 grew by 5.21% to Rs. 4616.85 crore, compared to Rs. 4388.31 crore in the prior year’s quarter.

Padam Cotton Yarns has reached its upper circuit limit, trading at Rs. 205.05 on the BSE, marking a 1.99% rise from its previous close of Rs. 201.05, gaining 4 points. The stock, which opened at Rs. 201.05, hit a high and low of Rs. 205.05, with 29,116 shares changing hands.

Belonging to the BSE ‘XT’ group with a face value of Rs. 10, the stock reached its 52-week high of Rs. 205.05 on November 14, 2024, and a low of Rs. 32.02 on May 18, 2024. Over the past week, the share price fluctuated between Rs. 205.05 and Rs. 189.95, with the company’s market capitalization currently at Rs. 77.87 crore.

Padam Cotton Yarns' promoter holding stands at 22.55%, while non-institutional investors hold 77.45%. The recent approval to establish new manufacturing and trading operations in Bharat Nagar, Ashok Vihar, Delhi will allow the company to expand its textile manufacturing and trading activities beyond its current operations. This decision was approved by the company's Board of Directors in their November 13, 2024, meeting.

Padam Cotton Yarns primarily manufactures cotton yarn and is also involved in consulting services.

Niva Bupa Health Insurance Company started trading on the BSE at Rs 78.50, marking a 6.08% rise, or 4.5 points, above its issue price of Rs 74. The stock is now trading at Rs 76.52, showing a gain of 3.41% or 2.52 points from its initial price. 

The share has reached an intraday high of Rs 80.94 and a low of Rs 75.08, with a trading volume of approximately 17.28 lakh shares so far. 

The IPO, which was open from November 7 to November 11, 2024, saw a subscription rate of 1.80 times. Priced at Rs 74 per share, the issue was set at the higher end of its price band of Rs 70-74. 

Niva Bupa Health Insurance operates as a standalone health insurer, with a primary focus on the retail health sector.

Apollo Tyres shares traded at Rs. 476.35 on the BSE, a rise of 4.38% or 20 points from its last close of Rs. 456.35. The stock opened at Rs. 448.45 and reached an intraday high of Rs. 478.55. Over 115,000 shares have changed hands so far.

This BSE 'A' category stock, with a face value of Rs. 1, has seen a 52-week high of Rs. 584.65 (September 26, 2024) and a low of Rs. 414.00 (November 24, 2023). For the past week, the stock traded between Rs. 499.95 and Rs. 448.45. Currently, the company's market capitalization stands at Rs. 29,659.21 crore. Promoters hold 37.36% of the company, with institutional investors at 41.68% and non-institutional investors at 20.96%.

Apollo Tyres has obtained approval to raise up to Rs. 1,000 crore through Non-Convertible Debentures (NCDs) via Private Placement, which will be allocated in one or more tranches within authorized borrowing limits. This decision, subject to shareholder approval through a postal ballot, was approved by the company’s Board of Directors on November 13, 2024.

A key player in India’s tyre industry, Apollo Tyres manufactures a range of products, including tubeless and tube-type tyres for cars, SUVs, trucks, and buses.

Restaurant Brands Asia’s stock is currently trading at Rs. 86.23, showing an increase of 1.47 points or 1.73% from its previous close of Rs. 84.76 on the BSE.

The stock opened at Rs. 86.46 and recorded a peak of Rs. 86.73 and a low of Rs. 84.61 in today’s session, with a volume of 47,743 shares traded.

This BSE ‘A’ group stock, with a face value of Rs. 10, reached a 52-week high of Rs. 133.85 on January 23, 2024, and a 52-week low of Rs. 84.50 on November 13, 2024. Over the past week, it hit a high of Rs. 92.54 and a low of Rs. 84.50. The company’s market capitalization is currently Rs. 4,232.71 crore.

Promoters hold a 13.17% stake in the company, while institutions and other investors own 55.27% and 31.56%, respectively.

Restaurant Brands Asia has finalized a loan agreement with its subsidiary PT Sari Burger Indonesia (also known as BK Indonesia), for an unsecured loan of IDR 40,000,000,000, which is approximately Rs. 21.49 crore based on the November 11, 2024 exchange rate (subject to variations on transaction day). The loan will support the subsidiary's primary business activities.

Restaurant Brands Asia, operating as a quick-service restaurant, specializes in ready-to-eat food products like burgers, fries, and beverages, serving customers across India through its Burger King India outlets.