The Hang Seng is down 0.2% while the Nikkei is up 1.7%. Shanghai Composite is trading down 0.4%.
In US stock markets, Wall Street indices posted record highs on the first trading day of the year on Monday, led by gains in Tesla Inc and bank stocks.
Meanwhile, Apple Inc. became the first company to hit a US$3 TN market capitalization as investors bet the iPhone maker will continue to launch best-selling products as it explores new markets such as automated cars and virtual reality. .
The Dow Jones Industrial Average rose 0.7% while the Nasdaq gained 1.2%.
back home, indian stock market opened on a flat note Following the trend of SGX Nifty.
After opening flat, benchmark indices extended gains as the session tracked firm global cues. However, the indices remained volatile and slipped into the red for a while.
At present BSE Sensex is trading up 198 points. Meanwhile, NSE Nifty is trading with a gain of 52 points.
Power Grid and ONGC are among the top gainers today. On the other hand, HCL Tech is one of the biggest losers today.
Reliance is in focus today as the company’s telecom arm Reliance Jio has received approvals to enable access to equipment from various vendors including Ericsson, Nokia Networks, Cisco and Dell, which have been designated as ‘trusted sources’ by the National Security Council. support has been given. Secretariat.
The BSE Mid Cap Index is up 0.1%. BSE Small Cap Index is trading with a gain of 0.3%.
Sectoral indices are trading mixed with power sector, banking sector and energy sector stocks witnessing most of the buying.
At the same time, IT shares are trading in the red mark.
Shares of Minda Corporation and Suzlon Energy hit a 52-week high today.
Rupee is trading at 74.48 against US Dollar.
Gold prices up 0.2% 47,800 per 10 grams.
Meanwhile, silver prices are trading with a fall of 0.1%. 61,668 per kg.
Gold rose today on Omicron coronavirus cases to stem the spread, while a rise in US Treasury yields backed by inflation fears kept safe-haven bullion gains in check.
A day ahead of the OPEC+ meeting, crude oil prices also rose on hopes of a recovery in demand.
In news from the automobile sector, Olectra Greentech is one of the top buzzing stocks today.
India’s largest maker of electric buses Olectra Greentech on Monday said it has received Letter of Award (LoA) for 50 e-buses from one of the state transport authorities for inter-city operations under the FAME-II scheme of the central government. Is.
The delivery of these buses is to be done in 12 months.
Here’s what the company said in a regulatory filing,
Out of the tenders where Olectra Greentech and eWay Trans Pvt (EVEY) were declared the least-quoted (L-1) bidders for 353 buses; For 50 electric buses, Evcy has received a letter of award from one of the state transport authorities (i.e. for inter-city operations) under the FAME-II scheme.
EV Trans Pvt is a subsidiary of Olectra Greentech.
The maintenance of these buses will be done by the company during the contract period and the value of this contract is approx. 1.3 billion
Adding to the above order, Olectra’s total order book for electric buses is around 1,523 e-buses after considering the deliveries already made.
Olectra Greentech, part of Megha Engineering and Infrastructure, has developed its buses in collaboration with BYD, China’s largest electric vehicle maker.
Olectra Greentech’s share price is trading up 3%.
Speaking of Olectra Greentech, take a look at the chart below to see the company’s stock performance over the past five years.
see full image
traded on stock Level 25 five years ago. Today, the stock has zoomed up 800 level and 52-week high price 941.
It has registered a profit of 99% with a CAGR of 3,000% in the last five years. it’s a wonderful making money,
The growth outlook for the company looks bright as it plans to venture into manufacturing of electric trucks, passenger vehicles and three-wheelers.
Moving on to the latest developments from the IPO sector, LIC is expected to file its draft prospectus with the market regulator by the third week of January, according to a leading financial daily.
In one of their interactions with global investors, top LIC officials indicated that the life insurer is expected to file its draft prospectus by the third week of January.
Finance Ministry officials have told that LIC will be a listed entity before the end of FY 2022, which has been several months now.
The size of the IPO is expected to be worth approx. 1 lakh crore which will make it the largest ever equity offering in India.
Along with this information, officials also shared that the life insurance major will be recruiting more Millennial agents.
In an earlier conversation, officials had explained how LIC wants to leverage its digital strategy to grow business.
How LIC’s mega IPO pans out, remains to be seen. In other news from the IPO sector, there are 75 companies IPO pipelineOf these, 37 have valid observations from the regulator and the remaining 38 are waiting to proceed after filing their prospectus.
In the March 2022 quarter itself, 23 companies collectively look to raise close to 440 billion through initial share sales, of which a significant portion will be received by technology-driven companies.
Following the success of big tech companies Zomato, Nykaa and PolicyBazaar, domestic start-ups will continue to launch their mega issue for investors in 2022. Oyo, Delhivery and PharmaEasy will be among the most awaited ones.
63 companies raised in 2021 1.20 lakh crore through their initial stake sale. In addition, some REITs and InvITs raised more than 115 billion during the year.
As it stands now, the figure for 2022 will probably be higher than the previous year.
We will keep you informed about the latest developments in this field. stay tuned.
This article is syndicated from Equitymaster.com
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