Indian Markets on a High: Key Indices Surge, Buzzing Stocks to Watch, and Industry Leaders Expand"

Indian share markets displayed strong momentum as the trading session progressed on Friday, with key indices ending the day on a positive note. The benchmark indices BSE Sensex and NSE Nifty concluded the last trading session of the week with substantial gains, each closing higher by 1%.

At the closing bell on Friday, the BSE Sensex surged by 819 points, marking a 1% increase. Meanwhile, the NSE Nifty also climbed by 251 points, reflecting a similar 1% rise. Among the top gainers were Eicher Motors, Mahindra & Mahindra (M&M), and Tata Motors. On the other hand, BPCL, Maruti Suzuki, and Sun Pharma were among the top losers.

The broader market mirrored this positive sentiment, with the BSE MidCap index ending 1.2% higher and the BSE SmallCap index closing 0.8% higher. Sectoral indices also traded positively, with significant buying interest observed in the realty, auto, and IT sectors.

Gold prices for the latest contract on MCX remained steady, trading at Rs 69,694 during the Indian market closing hours on Friday.

Gift Nifty and Market Outlook

As of 7:50 AM today, the Gift Nifty was trading 22 points lower at 24,406 levels. Despite this, Indian share markets are expected to open on a positive note, following the trend on Gift Nifty.

Top Buzzing Stocks Today

Several stocks are expected to be in focus today, with Trent being one of the most notable. On August 9, Trent reported a consolidated net profit of Rs 3.9 billion for Q1 FY25, a significant 126% increase from Rs 1.7 billion in the corresponding quarter of the previous financial year. Trent’s earnings exceeded market expectations by a wide margin. The revenue from operations for the Tata Group company stood at Rs 41 billion, up 56% from Rs 26.3 billion in the year-ago quarter.

NBCC Ltd is another stock to watch. Shares of NBCC surged by 7% on August 9 after the company announced that it had received a Rs 150 billion order from the Srinagar Development Authority (SDA). The Memorandum of Understanding (MoU) was signed between the SDA and NBCC, a Government of India enterprise, for the development of a satellite township at Rakh Gund Aksha in Bemina, on the outskirts of Srinagar.

Inox Wind Q1 Results

Inox Wind Limited (IWL) reported a profit after tax of Rs 500 million for the June quarter, a significant turnaround from the Rs 650 million loss reported in the same period of the previous financial year. The company’s total revenue surged by 85%, reaching Rs 6.5 billion, up from Rs 3.5 billion in the year-ago quarter.

Inox Wind’s order book has more than doubled to 2.9 GW, comprising a mix of Public Sector Undertakings (PSUs), Independent Power Producers (IPPs), and commercial, industrial, and retail customers. In the first few months of the current fiscal year, Inox Wind secured orders totaling 611 MW across various customers. Additionally, the company has recently infused Rs 9 billion, making it net cash positive and strengthening its balance sheet to capitalize on the long-term opportunities in India’s wind energy sector.

As part of the USD 9 billion INOXGFL Group, Inox Wind Limited is a leading wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. The company offers comprehensive engineering, procurement, and construction (EPC) services for wind farms and is also involved in the generation and sale of wind power.

Shipping Corporation of India Q1 Results

The Shipping Corporation of India (SCI) reported a 70% increase in net profit, reaching Rs 2.9 billion for Q1 FY25, compared to Rs 1.7 billion in the corresponding quarter of the previous financial year. However, the net profit for the June quarter showed a decline from Rs 3.1 billion reported in the March quarter.

The state-run company’s revenue from operations rose by 26.2% to Rs 15.1 billion in the quarter under review, compared to Rs 12 billion in the corresponding period of the previous financial year. SCI’s EBITDA also jumped by 40.4% to Rs 5.1 billion in Q1 FY25, compared to Rs 3.6 billion in Q1 FY24, with the margin increasing to 33.7% from 30.3% in the same period.

The Shipping Corporation of India is a government-owned corporation that operates and manages vessels servicing both domestic and international lines. It falls under the Ministry of Shipping, Government of India, and is headquartered in Mumbai.

Mahindra & Mahindra’s EV Manufacturing Unit

Mahindra and Mahindra (M&M), the fourth-largest automaker in India, is reportedly in discussions with the government of Kerala to establish an electric vehicle (EV) manufacturing unit in the state. Kerala is already leading the country in terms of passenger vehicle EV penetration, which stands at 5.2%, higher than Delhi’s 3.2% and Karnataka’s 3.1%.

In addition to passenger vehicles, Kerala also has the highest penetration of electric two-wheelers at 13.5%, ahead of Karnataka at 11.5%, Maharashtra at 10.1%, and Delhi at 9.4%. The state’s Infrastructure advantage, including the presence of a container port like Vizhinjam, further strengthens its position as an ideal location for an EV manufacturing unit.

Ahead of the Global Investors Meet (GIM), Kerala will be conducting roadshows in Chennai, Bengaluru, Mumbai, and Delhi to showcase the state’s potential as a high-tech hub within the next 10-15 years. The state has already identified 22 knowledge-based sectors, including generative AI, blockchain technology, data analysis, machine learning, robotics, and nanotechnology, among others.