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<ul><li>Shares of automaker JBM Auto received orders for supply of 500 electric busses from a few state governments and corporate clients.</li><li>The multibagger stock has delivered 138% returns in the last one year.</li><li>Shares of several auto component makers have rallied in the last one month.</li></ul>Shares of JBM Auto were among the top gainers on Dalal Street with share price up 17% on large orders. The Gurugram-based automaker has received orders for 500 for <keyword id="6358344" type="General" weightage="20" keywordseo="electric-buses" source="Orion">electric buses</keyword> and some compressed natural gas (CNG) buses from states including Delhi, Bengaluru and Uttar Pradesh along with other corporate clients. Majority of the orders are for electric buses. The move tells a lot about the shift towards clean energy and increasing demand for electric vehicles in the country. JBM Auto is into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses. Meanwhile, shares of many auto component makers and peer companies to JBM Auto have rallied in the last one month. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in last one month </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Exide Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi Systems </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bosch </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision Forgings </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pricol </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">JBM Auto </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table> Shares of the company ended up 12.74% at ₹513 as on September 23. <div type="image" title="JBM auto" height="900" width="1200" msid="86453366" hostid="261"></div> Moreover, shares of the automaker have more than doubled investors’ money in the last one year. The market capitalisation of the company stood at ₹2,454 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/the-success-story-of-indias-first-saas-company-to-be-listed-in-nasdaq/articleshow/86452977.cms">The success story of India’s first SaaS company to be listed in Nasdaq</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-lists-on-us-exchange-gives-tribute-to-rajinikanth-during-the-listing-ceremony/articleshow/86452943.cms">Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange</a>

Multibagger stock JBM Auto spikes 17% in one trading session on large order for electric bus

<ul><li>Companies manufacturing electric buses including Ashok Leyland, JBM Auto, Olectra Greentech have gained a lot of momentum with the government’s plan towards reducing carbon emissions.</li><li>Shares of these companies have skyrocketed up to 830% in the last one year as investors spot emerging opportunities in the electric vehicle businesses.</li><li>The latest development in the EV space is a $1 billion investment in automaker Tata Motors by private equity firm TPG.</li></ul>As India moves towards its plan to reduce carbon emissions, companies that are into electric vehicle (EV) manufacturing are becoming the front runners in the zero carbon race. Even investment firms are shifting some of their funds towards companies aiding the government to tackle the climate crisis and make a smooth transition towards electric vehicles. The latest development in this regard is the <a href="https://www.businessinsider.in/business/auto/news/tata-motors-gets-a-billion-dollar-investment-from-tpg-group/articleshow/86966522.cms">$1 billion investment</a> in automaker Tata Motors by private equity firm TPG. Moreover, state governments are inviting tenders to buy electric buses for public transport facilities. This gives a strong order push to companies manufacturing electric buses like Ashok Leyland, JBM Auto, Olectra Greentech, Tata Motors and Eicher Motors. Shares of these companies have skyrocketed up to 830% in the last one year as investors spot emerging opportunities in the electric vehicle space. While India is among the world's most polluted cities, the government has been pushing automakers to switch to EVs to promote clean air and reduce costly oil imports. Recently, Maharashtra environment minister Aaditya Thackeray <a href="https://twitter.com/AUThackeray/status/1447139828936499207?ref_src=twsrc%5Etfw">announced </a>that Mumbai’s entire public transport buses will go electric by 2028. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Public buses getting replaced by <keyword id="1310333" type="General" weightage="20" keywordseo="electric-bus" source="Orion">electric bus</keyword>es bring a huge opportunity for these few electric bus makers in the country. Under its EV Policy 2021, the Maharashtra government has embarked on a vision to electrify public transport in Mumbai and other cities including Pune, Nagpur, Nashik, Aurangabad and Amravati. Meanwhile, the Karnataka government is all set to acquire 1,500 electric buses in the next three years. Ashok Leyland <div type="image" title="ashok leyland" height="900" width="1200" msid="87021886" hostid="261"></div> The company manufactures automobiles, commercial vehicles, and engines. In 2016, Ashok Leyland debuted its first electric bus. Recently, Ashok Leyland won the Bangalore Metropolitan Transport Corporation tender for 300 non-air conditioned electric buses. JBM Auto <div type="image" title="JBM auto chart" height="900" width="1200" msid="87021904" hostid="261"></div> The Gurugram-based automaker was founded in 1996 with JBM Auto being the flagship company of JBM Group. The company has diversified into bus manufacturing with an aim to become a globally benchmarked producer of modern intra-city buses. Last month, the company received orders for 500 electric buses and some compressed natural gas (CNG) buses from Delhi, Bengaluru and Uttar Pradesh along with other corporate clients. Besides, it will also be supplying electric buses for Bengaluru Metropolitan Transport Corporation (BMTC). Olectra Greentech <div type="image" title="olectra greentech" height="900" width="1200" msid="87021947" hostid="261"></div> The Hyderabad-based electric bus and insulator manufacturing company Olectra Greentech is among the leading players in the space. The company has a healthy order book for 1,325 e-buses out of which 87 buses are already delivered. It made a profit of ₹5.65 crore in the June quarter compared to ₹3.26 crore loss in the same quarter last year. Besides, the company’s stock has created immense wealth for investors in the last one year as it surged over 800%. Tata Motors <div type="image" title="tata motors chart 2" height="900" width="1200" msid="87021969" hostid="261"></div> Tata Motors seems to be ahead of everyone with its latest $1 billion investment from US based private equity TPG for electric vehicle business. In August, the company delivered 35 Starbus electric buses, as a part of the larger order of 340 electric buses to Maharashtra’s transport department. Eicher Motors <div type="image" title="eicher motor" height="900" width="1200" msid="87021986" hostid="261"></div> In 2008, Eicher Motors collaborated with Volvo Group for selling trucks and buses under company name VE Commercial Vehicles. The company debuted with an EV bus named “Skyline Pro” in 2018. Since then, the company has been actively participating in tenders floated by various state transport undertakings and other government agencies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/nykaa-gets-sebis-approval-for-4000-crore-ipo/articleshow/87019734.cms">Nykaa gets SEBI’s approval for its ₹4,000 crore IPO; raises fresh issue size by over ₹100 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zee-invesco-saga-punit-goenka-speaks-up-for-the-first-time-asks-if-corporate-governance-doesnt-apply-to-institutional-investors/articleshow/87019547.cms">Zee-Invesco saga: Punit Goenka speaks up for the first time, asks if corporate governance doesn’t apply to institutional investors</a>

Electric bus makers on a roll as states like Maharashtra and Karnataka send in large orders

<ul><li>The event will open for the general public from January 14 to 18.</li><li>All major brands showcased their latest cars and advanced technologies at the event.</li><li>Electric cars and SUVs were the main highlights of the Auto Expo.</li></ul>Electric vehicles took center stage at the <keyword id="13421246" type="General" weightage="100" keywordseo="auto-expo-2023" source="Orion">Auto Expo 2023</keyword>, which kicked off on Wednesday. The 16th edition of the Auto Show is being held after a gap of three years due to Covid-19. Automobile giants such as <keyword id="8555" type="General" weightage="80" keywordseo="tata" source="Orion">Tata</keyword> Motors, <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>, Hyundai, Kia, MG Motors, and others showcased their futuristic products while committing to investing in sustainable mobility. Commercial vehicle manufacturers Ashok Leyland also unveiled different vehicles based on CNG, LHG, battery, and hydrogen-powered vehicles. Maruti Suzuki showcased its concept vehicle eVX, which is expected to hit the Indian market by 2025. Kia Motors exhibited its concept UV EV9 and KA4; the company also plans to invest ₹2,000 crore in Indian EV-related research and development. Keeping the trend of EVs and sustainable mobility, Tata Motors showcased over 20 products across its commercial and passenger vehicle portfolio. The main highlights of the company’s showcase were the electric SUV Sierra and the EV version of the SUV Harrier. During the launch, Tata Sons Chairman N Chandrasekaran said, “We believe that the transition to electric mobility in India will happen much faster than we are imagining.” Further, he added, Tata Motors has several products lined up to cater to the evolving customer needs. Business Insider India brings you top highlights from the Auto Expo 2023. <cmsannotation type="cmsannotation" annotationid="Electric cars and SUVs" comment="subhead" text="Electric cars and SUVs">Electric cars and SUVs</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki" comment="subhead" text="Maruti Suzuki">Maruti Suzuki</cmsannotation> <div type="image" title="Maruti Suzuki" msid="96944950" hostid="261" caption="&amp;lt;p&amp;gt;EV eVX SUV&amp;lt;/p&amp;gt;"></div> Dubbed as eVX, the electric SUV concept from Maruti Suzuki with a range of 550km showcased at the event. The SUV is equipped with a 60kWh battery pack and is slated to hit the Indian market by 2025. Maruti showcased the Jimny off-road SUV with a 4x4 all-terrain module and a sturdy design. We expect Maruti Suzuki to launch Jimny in India by April this year, with a starting price of ₹10 lakh (ex-showroom). The SUV will lock horns against Mahindra Thar and Force Gurkha. Maruti Suzuki unveiled the Fronx SUV based on the company’s popular hatchback Baleno. <cmsannotation type="cmsannotation" annotationid="JBM Auto" comment="subhead" text="JBM Auto">JBM Auto</cmsannotation> <div type="image" title="JBM Auto" msid="96944967" hostid="261" caption="&amp;lt;p&amp;gt;Electric bus by JBM&amp;lt;/p&amp;gt;"></div> JBM Auto, the manufacturer of buses and coaches, launched its first self-designed and self-manufactured electric luxury coach ‘Galaxy’ at the event. The company also showcased its new range of e-buses, including staff, city, and school buses. <cmsannotation type="cmsannotation" annotationid="Hyundai" comment="subhead" text="Hyundai">Hyundai</cmsannotation> <div type="image" title="Hyundai ioniq 5" msid="96944984" hostid="261" caption="&amp;lt;p&amp;gt;All electric SUV ioniq 5&amp;lt;/p&amp;gt;"></div> Hyundai has launched the Ioniq 5 EV at a starting price of ₹44.95 lakh. The all-electric SUV has a claimed range of 631km and fast charging using a 350 kW DC charger to go from 0 to 80 percent in 18 minutes. The Ioniq 5 EV was announced in India last month, and it was up for booking for a token of ₹1 lakh. <cmsannotation type="cmsannotation" annotationid="Kia Motors" comment="subhead" text="Kia Motors">Kia Motors</cmsannotation> <div type="image" title="Kia ev9" msid="96944998" hostid="261" caption="&amp;lt;p&amp;gt;Kia ev9 SUV&amp;lt;/p&amp;gt;"></div> Kia Motors showcased the EV9 concept at the Auto Expo 2023. The car is expected to go into production in the second half of 2023. The car will have a range of 482km and will come with solar panels. Along with the Kia EV9, the automaker showcased its purpose-built emergency services vehicles. <cmsannotation type="cmsannotation" annotationid="BYD" comment="subhead" text="BYD">BYD</cmsannotation> <div type="image" title="BYD Seal" msid="96945008" hostid="261" caption="&amp;lt;p&amp;gt;Electric sedan by BYD&amp;lt;/p&amp;gt;"></div> Chinese automaker BYD showcased Seal, a luxury sedan with a range of 700km on a single charge. The electric sedan is expected to hit the Indian market in the year’s fourth quarter. BYD also introduced new color options for its Atto 3. <cmsannotation type="cmsannotation" annotationid="Lexus" comment="subhead" text="Lexus">Lexus</cmsannotation> <div type="image" title="Lexus" msid="96945027" hostid="261" caption="&amp;lt;p&amp;gt; RX 350h by Lexus&amp;lt;/p&amp;gt;"></div> Lexus India made its debut with RX 350h SUV. The car will be available in a hybrid model with a 2.4-liter petrol engine and a battery. Lexus has announced that it is accepting bookings for the new RX from January 11, with prices to be revealed by the end of the quarter. Deliveries, meanwhile, are set to commence in the second quarter of 2023. <cmsannotation type="cmsannotation" annotationid="Tata Motors" comment="subhead" text="Tata Motors">Tata Motors</cmsannotation> <div type="image" title="Tata EV" msid="96945036" hostid="261" caption="&amp;lt;p&amp;gt;EV by Tata&amp;lt;/p&amp;gt;"></div> Tata Motors showcased the Harrier EV concept, which looked pretty close to road ready. Joining the Harrier EV, the second surprise from tata was the Sierra EV concept. The Tata Avinya was also showcased at Auto Expo 2023. The company also showcased the Curvy ICE concept. Apart from these two, Tata also showcased the Punch CNG and Altroz CNG. <cmsannotation type="cmsannotation" annotationid="Toyota" comment="subhead" text="Toyota">Toyota</cmsannotation> <div type="image" title="Toyota bZ4X" msid="96945052" hostid="261" caption="&amp;lt;p&amp;gt;EV bZ4X by Toyota&amp;lt;/p&amp;gt;"></div> Japanese automaker Toyota showcased its all-electric SUV, the bZ4X, at the Auto Expo 2023. The car offers a range of 559 km on a single charge and is expected to hit the Indian road this year. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/british-company-develops-the-first-ever-tractor-that-runs-completely-on-cow-dung/articleshow/96882132.cms">British company develops the first-ever tractor that runs completely on cow dung</a> <a href="https://www.businessinsider.in/tech/apps/news/these-audio-setting-tweaks-can-make-music-sound-better-on-spotify/articleshow/96876010.cms">These audio setting tweaks can make music sound better on Spotify</a>

EVs take the limelight of Auto Expo 2023 — new launches, concept cars, all the highlights from the auto show

Greater Noida, Feb 5 () JBM Auto on Wednesday launched electric bus ECO-LIFE e9, powered by fast charging lithium batteries, at the auto expo here.It can run 125-150 kms in a single charge, depending on the city's traffic conditions, the company said.The company is aiming to be one-stop solution provider in the electric vehicles segment by providing a complete ecosystem solution for e-mobility i.e. electric bus, battery technology, charging infrastructure based on the operating pattern within the city."ECO-LIFE e9 expands our electric bus portfolio further with its elder sibling e12 that was launched in the last Auto Expo. The ECO-LIFE series has been designed and localized keeping the Govt's Make in India vision...," JBM Group Executive Director Nishant Arya said.ECO-LIFE is manufactured at the company's facilities in Faridabad (Haryana) and Kosi (Uttar Pradesh).These plants have an installed capacity to manufacture 2,000 buses annually, it adeed. KRH BAL

JBM launched electric bus ECO-LIFE e9

<ul><li><keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> will be splitting its stock in a 10-for-1 ratio this coming Friday.</li><li>The <keyword id="6355393" type="General" weightage="20" keywordseo="stock-split" source="Orion">stock split</keyword> would help Tata Steel by increasing liquidity as it becomes affordable for investors.</li><li>A stock split does not change anything about the stock’s fundamentals, it just makes it look cheaper.</li></ul>It is a season of stock splits as big and small corporations are actively increasing the supply of shares by splitting them. Tata Steel on July 26 said that it had gotten the necessary approvals for the sub-division of its shares in the ratio of 10-for-1. This means that shareholders will get 10 shares for every single share of the Tata Group’s steel business. <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>’s stock rallied on July 27 on news that the company was contemplating a stock split along with a bonus issue. If a company is splitting its stock, then why should the price change? Business Insider India explains all you need to know about stock splits. <cmsannotation type="cmsannotation" annotationid="What is a stock split and what does it mean for Tata Steel investors?" comment="subhead" text="What is a stock split and what does it mean for Tata Steel investors?">What is a stock split and what does it mean for Tata Steel investors?</cmsannotation> When a listed company increases the number of outstanding shares by issuing more shares to the existing shareholders, it is said to have split its existing shares so that there are more shares available in the hands of investors. The stock split does decrease the market price of the individual shares in proportion to the split ratio, but does not cause any change to the market capitalization of the company. Investors of Tata Steel will get 10 shares instead of one share, the cost of each new share would be one-tenth the cost of the original share. For instance, the shares of Tata Steel is currently trading at roughly around ₹950. After the split, an investor would get 10 shares with each of them priced at ₹95. This is just an example, the actual stock price would depend on the share price of that day. Motilal Oswal explains that the split shares neither add new value nor does it dilute the ownership stake of the shareholders. However, they do increase the number of shares an investor holds. “Imagine a company. It has issued around 1,00,000 equity shares of face value of ₹10 per share. The company decides to split its shares in the ratio of 2:1. What this essentially means is that every share of the company will now be split into two. This will, in effect, increase the number of equity shares of the company to 2,00,000 from the erstwhile 1,00,000. And simultaneously, the face value of the shares would also come down to ₹5 per share,” the brokerage firm said. <cmsannotation type="cmsannotation" annotationid="Why is Tata Steel doing a stock split?" comment="subhead" text="Why is Tata Steel doing a stock split?">Why is Tata Steel doing a stock split?</cmsannotation> The stock split would help Tata Steel by increasing liquidity as the shares become much cheaper for small retail investors and attracts high trading volume, Manoj Dalmia, founder and director of Proficient Equities, told Business Insider. “Another one of the main stock split benefits is that the shares of a company generally see increased liquidity. Since shares have now become more accessible to retail investors, more people would show increased demand for it, which can increase liquidity in the counter. Buying and selling shares will be far easier after a stock split,” Motilal Oswal said. Tata Steel’s shares were trading at ₹953 at 11:17 am on Tuesday morning, after witnessing a dip of 16.6% year-to-date. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> <cmsannotation type="cmsannotation" annotationid="What companies have undergone a stock split?" comment="subhead" text="What companies have undergone a stock split?">What companies have undergone a stock split?</cmsannotation> Multiple Indian companies — including Johnson Pharma, JBM Auto, Jubilant Food — have undergone a stock split this year. Internationally, Alphabet Inc-owned Google and Jeff Bezos’ ecommerce giant Amazon splits their stock in a 20-for-1 ratio. Rajnish Wellness, Ontic Finserve, Hindustan Foods and Shanti Educational Initiatives carried out a stock split last Friday on July 22, 2022. High Energy Batteries (India) would be next in line to carry out a stock split in the month of August. <cmsannotation type="cmsannotation" annotationid="What does a stock split mean for the investors?" comment="subhead" text="What does a stock split mean for the investors?">What does a stock split mean for the investors?</cmsannotation> A stock split does not change anything about the stock’s fundamentals. A way to look at it is that the actual size of the company stays the same but the shares issued increases, leading to a reduction in price of each share. For instance, a group of four friends slice a pizza into four pieces. Each of these friends would get one slice. However, if the same pizza is split into eight pieces, everyone would get two slices. The size of the pizza would be the same, however, the shares coming out of it would increase. Companies — including Tata Steel, Johnson Pharma, Google, Amazon — carry out such stock splits to make the share more affordable for retail investors, making the stock more liquid. “This will make a shareholder have more shares in the company at a cheaper price making these shares more affordable for both existing and new investors,” Dalmia noted. “In a stock split, investors who own stocks still have the same amount of money invested, but now they own more shares at a proportionately lower price. But as we saw above the value may not exactly be the same and normally, the stock split tends to make the stock more valuable due to its wider reach. That is normally one of the most popular reasons for companies to do a stock split,” according to financial services company IIFL. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/banks/news/rbi-governors-recipe-for-banks-of-the-future-oodles-of-social-media-new-tech-a-dash-of-human-touch/articleshow/93138812.cms">RBI governor’s recipe for banks of the future: Oodles of social media, new tech &amp; a dash of human touch</a> <a href="https://www.businessinsider.in/business/ecommerce/news/e-commerce-platform-shopify-lays-off-1000-employees/articleshow/93151446.cms">E-commerce platform Shopify lays off 1,000 employees</a> <a href="https://www.businessinsider.in/business/news/indias-newly-digitized-msmes-need-offline-marketing-as-much-as-online/articleshow/93138395.cms">India’s newly digitized MSMEs need offline marketing as much as online</a>

EXPLAINED: A stock split helps increase liquidity in a stock by making it more affordable for retail investors, but does not guarantee an uptick

A corpus of Rs 1 lakh crore will be established with 50-year interest free loans to encourage the private sector to scale up research and innovation in sunrise domains, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> announced on Thursday. Presenting the interim Budget 2024-25, Sitharaman said this will be a golden era for India's tech savvy youth. "A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long-term financing or refinancing with long tenures and low or nil interest rates," the minister said. "This will encourage the private sector to scale up research and innovation significantly in sunrise domains. We need to have programmes that combine the powers of our youth and technology," she added. EV stocks rally Shares of companies related to the electric vehicle segment jumped on Thursday after the announcement that the government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged. The stock of Olectra Greentech jumped 6.21% to reach its 52-week high of Rs 1,849.25 on the BSE. JBM Auto climbed 4.96% to hit its one-year peak of Rs 2,010.80. Greaves Cotton went up by 3% to the day's high of Rs 168.55. The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory. Biomanufacturing and bio foundry scheme will be launched to provide environment-friendly alternatives for bio-degradable production, she added.

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

<ul><li>Large-cap stocks offer better reward-risk balance given more reasonable valuations say experts in their Diwali picks.</li><li>BSFI, domestic upcycle theme along with real-estate, power and infra amongst Diwali picks by brokerages.</li><li>Defence and railway stocks like MTAR Technologies, HAL, Titagarh Wagons also made it to the best <keyword id="10273453" type="General" weightage="20" keywordseo="diwali-stock-picks" source="Orion">Diwali stock picks</keyword> for Samvat 2080. </li></ul>The Diwali festive fervour is here and the Indian stock markets will soon end Samvat 2079 after hitting many milestones. Not only did the benchmark indices gain 6% during the year — Nifty touched 20,000 and Sensex surpassed 67,900. The equity markets have also shown extreme resilience in times of many geopolitical uncertainties like the Israel-Hamas conflict on top of the Russia-Ukraine war, rising inflation, sharp uptick in bond yields and more. For investors who are looking to build an auspicious portfolio for Samvat 2080, experts advise restraint and pick stocks that stand tall amidst corrections. “The recent sharp correction in stock prices may reflect growing recognition of short-term and medium-term challenges or a natural correction in the market from high levels. In our view, large-cap stocks offer better reward-risk balance given more reasonable valuations versus lofty valuations of most mid- and small-cap stocks,” says <keyword id="66607" type="General" weightage="80" keywordseo="kotak-securities" source="Orion">Kotak Securities</keyword>. According to the brokerage firm, short term challenges include higher-for-longer interest rates, and weak domestic consumption. It also expects disruption across sectors as a medium term challenge. Going ahead, it sees value in BFSI stocks, while <keyword id="100578" type="General" weightage="80" keywordseo="sharekhan" source="Orion">Sharekhan</keyword> sees value in domestic upcycle themes, with a few others that can leverage greenshoots in the export market. “Investors should view the current market weaknesses as valuable buying opportunities for constructing a top-tier portfolio aimed at riding the multi-year economic upcycle in India and use the opportunity for wealth creation over the next few years. Corporate earnings are expected to grow at a CAGR of 15% for the next two years, with over 20% earnings growth anticipated in the BSE 200 over the same period,” says Sharekhan. Here are a few stocks picked across brokerages’ Diwali picks. Best of the best: Diwali picks with rocket-like returns <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upside </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titagarh Rail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Securities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JBM Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chola Securities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Go Fashion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sansera Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monarch Networth Capital </td></tr></tbody></table> RIL rules, but DLF and small caps on the list too Most of the Diwali picks of stocks veered towards a good balance of large caps. But a few high performing small cap stocks such as RVNL, <keyword id="75435" type="General" weightage="80" keywordseo="gokaldas-exports" source="Orion">Gokaldas Exports</keyword>, <keyword id="19427151" type="General" weightage="80" keywordseo="garware-hitec" source="Orion">Garware Hitec</keyword>, <keyword id="14661372" type="General" weightage="80" keywordseo="syrma-sgs" source="Orion">Syrma SGS</keyword> made it to the pataka stock lists compiled across brokerages. The most common name across lists is Reliance Industries, as companies see good upside in the stock in the next few years. J M Financial says that RIL’s net debt concerns are overdone, and that it has industry leading capabilities across businesses to drive robust 14-15% earnings per share (EPS) compounded annual growth rate (CAGR) over the next 3-5 years. “Jio’s ARPU expected to rise at 10% CAGR over FY23-28 with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market. Further, strong growth momentum continues in the company’s Retail business as RIL is driving omni-channel capabilities across segments,” the brokerage says. The next most common stock across Diwali picks is DLF. Even as Kolte Patil, Lodha and Godrej Properties were also picked as the real estate sector theme remained strong, this mega developer made it to three brokerages’ best picks. “DLF's strong leadership in the Delhi-NCR region, a vast residential project pipeline, a significant rental portfolio, ample land reserves with low carrying costs, and favourable market conditions create a promising environment for substantial growth,” said Anand Rathi. Banks were also part of each brokerage’s picks with Union Bank of India, ICICI Bank, Bank of India, Axis Bank making the cut. Most of them back defence and railway stocks as well like HAL, Titagarh Wagons and MTAR Technologies – all which have given good returns this year. Auto stocks like M&amp;M, TVS Motor, Tata Motors, Maruti and Ashok Leyland also rode into the Diwali picks, with a good mix of power and infrastructure stocks like Tata Power, Power Grid, BHEL and L&amp;T are expected to light-up portfolios on the day India will glow with the light of diyas.

Enter Samvat 2080 with these Diwali pataka stocks

Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented the <a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms" data-type="tilCustomLink" target="_blank">Interim Budget for 2024</a> before the country heads for general elections later this year. As expected there were no major announcements. However, the <a href="https://www.businessinsider.in/finance/news/fm-nirmala-sitharaman-sets-fy25-fiscal-deficit-target-at-5-1-of-gdp/articleshow/107318411.cms" data-type="tilCustomLink" target="_blank">FY25 fiscal deficit target</a> of 5.1% versus the revised estimate of 5.8% for FY24, has been welcomed by market watchers. Moreover, the FY25 capex outlay has been increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of GDP. Reactions by market watchers and economists 1. The higher than expected capex (FY24: Rs. 10.0 trillion vs. Rs. 9.3 trillion and FY25: Rs. 11.1 trillion vs. 10.2 trillion) and lower than projected <keyword id="6365485" type="General" weightage="20" keywordseo="fiscal-deficit" source="Orion">fiscal deficit</keyword> (FY24: 5.8% vs. 6.0% and FY25: 5.1% vs. 5.3%) suggest that the quality of expenditure is going to be healthier than what we had pencilled in both in FY2024 and FY2025. Faster fiscal consolidation and a dip in borrowings will help to cool yields further over the coming year, as long as the estimates for revenue and capital receipts appear credible as the year progresses. - Aditi Nayar, Chief Economist, Head - Research &amp; Outreach, ICRA Ltd 2. There was an expectation that given it’s an election year, the budget could tilt more populist with more support for rural sector. However, contrary to expectations, the government continues to be driven by development and fiscal prudence as the central focus. Given the economic growth momentum , there was need for assuring macroeconomic stability which has been judiciously crafted to give way for fiscal consolidation. The lower tax collection assumption could either be conservative or government signal to assume some growth moderation going forward. The government continues it capital expenditure spending with on Inclusive development with Agri, Infra (including housing) and Green ecosystem as the key thrust areas with an emphasis on Research and Technological developments. There was a need to support manufacturing momentum and way to revive rural economy. However, probably that could be part of the main budget that gets presented in July as government plans to showcase a pathway for Developed India. - Chirag Mehta, CIO, Quantum AMC 3. The government aims to boost the e-vehicle ecosystem by supporting the manufacturing and charging infrastructure. Additionally, it aims at greater adoption of e-buses for public transport networks. This would promote environmental sustainability by reducing carbon emissions, contributing to cleaner air, and lower pollution levels. Olectra Greentech, JBM Auto, Tata Motors, and Ashok Leyland stand to benefit from this initiative. - Siddhesh Mehta, Research Analyst, Samco Securities 4. As anticipated, the <keyword id="19906106" type="General" weightage="100" keywordseo="interim-budget" source="keywords">Interim Budget</keyword> 2024 made no big-bang announcements, but it continued its focus on infrastructure upgrades and building connectivity across the country. This will benefit real estate growth in not just the top cities but in tier 2 &amp; 3 cities across the country. - Anuj Puri, Chairman - ANAROCK Group 5. Long term funding for research is most welcome. This is critical for India to drive IP based growth, which is the future. This combined with Atmanirbhar for defense, fledgling defence Industrial complex and quality of education at premier colleges would allow India to become a research and product nation. - Nilaya Varma, Co-Founder &amp; CEO, Primus Partners 6. The government announced a fiscal deficit of 5.8% of GDP, 0.1% lower than the Budget Estimate (BE) of last year. This was a significant announcement, sending a clear message to investors that the government maintains control over its finances and remains committed to the fiscal consolidation path it has established. - Rumki Majumdar, Economist, Deloitte 7. The Vote on Account is citizens pride and peers envy. It has achieved the impossible trinity of inclusive growth ( through support to agriculture, rural housing, fisheries and micro finance for SHGs ) , infrastructure investment ( enhanced allocation ) and fiscal prudence. - Nilesh Shah, MD - Kotak Mahindra AMC 8. The interim budget today took another big step forward in the remarkable journey of macro-economic stability that has been underway for some time now. We had dwelled on these in a recent communication including on the important implications that these may have for bond investors. While it was important to appreciate the context of the higher central government deficit of the past few years, it was nevertheless considered as probably the weakest aspect of India’s overall macro-economic story. With the 80 bps fiscal consolidation on budgeted fiscal deficit between FY 24 to FY 25, and the finance minister’s stated commitment to attain less than 4.5% deficit in FY 25 (implying at least another consolidation of 60 bps), India has now solidly ringfenced this aspect of our macro-economic story as well. - Suyash Choudhary, Head – Fixed Income, Bandhan AMC 9. India’s entry into the Kartavya Kal has been announced with the India Middle East-Europe trade corridor which supports India’s unfettered commitment to national development and ambitious vision to transform into a developed nation by the centenary of its independence in 2047. This corridor is expected to positively impact and facilitate world trade and India’s trade in the GCC region. - Moin Ladha, Partner, Khaitan &amp; Co. 10. The finance minister has rightly chosen the path of fiscal consolidation. The aim to bring the fiscal deficit down to 5.1% of GDP for FY25 is lower than general expectations of 5.2-5.4% and that is very heartening. The minister is showing strong intentions, ahead of the election year, to adhere to the fiscal consolidation path which will be well received by rating agencies as well as the global investors that are eyeing India as an attractive investment destination. - KVS Manian, Whole time Director, Kotak Mahindra Bank 11. The fiscal deficit of 5.1 and total gross borrowing is Rs 14.13 Lakh crores, the total net borrowing is at Rs 11.75 Lakh crores. The Nominal Growth in expected to be 10.5 % and tax revenue growth is expected to grow by 11.93%, which is a conservative estimate. The total non-tax revenue has been budgeted at Rs 1.53 Lakh Crores same as last year. The numbers look realistic as the assumption are realistic. The capital expenditure is targeted at Rs 11.11 lower than market expectation of Rs 12 Lakhs. The Finance minister stated they want to get fiscal deficit below 4.5 % in 2025-26. This is anti-inflationary budget in an election year as the fiscal deficit is reduced from 5.8 percent to 5.1 percent.. The finance ministry is clearly aiming for rating upgrade with aggressive fiscal deficit reduction target as we are at investment grade rating. The ten-year yield have come down to 7.05 to 7.08 levels from 7.15 levels. Further drop in yields is expected due to flows from foreign institutional investors and expectation of India’s rating upgrade. - Murthy Nagarajan, Head-Fixed Income, Tata Asset Management 12. Eliminating outstanding tax demands below 25,000 up to FY 2009-10 and below 10,000 up to FY 2014-15 is a welcome move. This shows that the government is using their database effectively. While the Budget speech refers to the increase in the number of taxpayers by 2.4times and of a good direct tax collection and a stable GST implementation, that positivity is yet to be passed on to the middle class. Hence there can be some disappointment in personal taxation among the salaried class. As this is an interim budget, let’s hope that there would be scope for realistic reduction on individual tax in the full budget. - Mini Nair, Chief Financial Officer, Geojit Financial Services 13. The Government has walked the path of fiscal prudence, and it is heartening to note that the fiscal deficit target for FY24, pegged at 5.8%, will be overachieved. The fiscal deficit being pegged at 5.1% for FY25 is a positive move as it will help free up space for private borrowings as they pick pace during the year, besides helping in containing inflationary pressures and supporting the bond markets. There has been no change on the taxation front, and we will have to wait for the full budget for any changes, with the government sticking to the norm of not making major announcements in an interim budget. The additional allocation of INR 1.1 trillion for capex, taking it to INR 11.1 trillion, should provide continuity in the pace of infra creation and in bringing down the logistics cost in the country progressively. - Ranen Banerjee, Partner and Leader Economic Advisory, PwC India

'Prudent, not populist' with a  positive fiscal deficit surprise – market watchers, economists praise Interim Budget 2024

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade after opening on a positive note on Wednesday. </li><li>Most sectoral indices were in the red, with PSU bank, healthcare and pharma indices losing the most. </li><li>State Bank of India, Axis Bank and Dr. Reddy’s Laboratories were amongst the top losers in morning trade. </li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade after opening on a positive note on Wednesday. Most sectoral indices were in the red, with PSU bank, healthcare and pharma indices losing the most. Both the indices were down by 0.3%, with Sensex hovering at 61,592 points and Nifty50 at 18,218 points. State Bank of India, Axis Bank and Dr. Reddy’s Laboratories were amongst the top losers in morning trade. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.45% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.66% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.04% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.36% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.94% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.07% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.89% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.64% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.80% </td></tr></tbody></table> Source: NSE, as on May 10, 2023 Earlier on Tuesday, both the benchmark indices rose in mid-market trading, with Sensex crossing the 62,000 mark for the first time since December. However, by markets close, both the indices pared their gains to end flat. Gold prices edged up to ₹61,410 per 10 grams while silver stood at ₹77,455 per kilogram. Crude oil prices gained as well, with Brent crude prices hovering at $76.9 per barrel. <cmsannotation type="cmsannotation" annotationid="Global cues negative" comment="subhead" text="Global cues negative">Global cues negative</cmsannotation> Markets globally offered negative cues on Wednesday. US markets closed lower ahead of key inflation data, with Dow Jones closing 0.17% lower while S&amp;P 500 fell 0.46%. The tech-heavy Nasdaq closed 0.63% in the red. Asian markets were largely in the red on Wednesday morning, with Shanghai Composite falling the most at 1.12%, followed by Taiwan Weighted which was down 0.85%. Hang Seng fell 0.62%, while Nikkei 225 was down 0.44%. KOSPI was down only 0.15%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch">Stocks to watch</cmsannotation> Earnings today: <keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword>, Dr Reddy’s Laboratories, Godrej Consumer Products, Gujarat Gas, Relaxo Fotwears, Bosch, Escorts, Cera Sanitaryware, JBM Auto, Orchid Pharma, Pricol among companies to release its March quarter earnings today. Nazara Technologies: The gaming company reported an 18% increase in consolidated net profit at ₹2.6 crore for March quarter while revenue from operations surged 65% on year to ₹289 crore. It has also increased stake in Nextwave Multimedia, developers of World Cricket Championship, to 71.88% from 52.38%. <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> group: Three Adani group entities, namely <keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword>, <keyword id="895682" type="General" weightage="20" keywordseo="adani-ports" source="Orion">Adani Ports</keyword> &amp; SEZ, and <keyword id="2687606" type="General" weightage="20" keywordseo="adani-transmission" source="Orion">Adani Transmission</keyword> have been removed from a UN-backed list of green companies. Further, the committee set up by the Supreme Court to look into the Hindenburg allegations has submitted its report to the court. SpiceJet: The airline has submitted a request to the aviation regulator to deregister three aircraft. Currently, many aircraft of the low cost carrier are grounded due to various reasons. Apollo Tyres: The company has reported a four fold increase in net profit at ₹427 crore while revenue from operations rose 12% on year to ₹6,247 crore. Reliance Industries: The Delhi High Court on Tuesday dismissed a petition filed by the Union government against a consortium led by the company regarding a gas dispute in the Krishna Godavari basin. Eveready Industries: The battery and lighting products manufacturer has narrowed its loss to ₹ 14 crore as against a loss of ₹38 crore last year. Meanwhile, its revenue increased 18% to ₹286 crore from ₹242 crore last year. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/india-china-amongst-top-gold-buyers-in-march-quarter-as-central-banks-hoard-yellow-metal/slidelist/100103402.cms">India, China amongst top gold buyers in March quarter as central banks hoard yellow metal</a> <a href="https://www.businessinsider.in/business/auto/news/fy23-scorecard-tvs-motor-fares-better-than-bajaj-auto-hero-motocorp-on-profits-and-margins/articleshow/100082560.cms">FY23 Scorecard: TVS Motor fares better than Bajaj Auto, Hero MotoCorp on profits and margins</a>

Sensex, Nifty50 edge lower after a positive opening: SBI, Axis Bank among top losers

<ul><li><keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> &amp; Bajaj Finserv are among the top performers of the week as investors cheer announcement of stock split.</li><li>On Monday, Tata Steel announced to split its shares in a ratio of 10:1 in its June quarter results and as a result the stock has been on a gaining spree since then.</li><li>Similarly, shares of Bajaj Finserv have also been rallying after the company announced that its board would consider a bonus and stock split on Thursday.</li></ul>Tata Steel &amp; Bajaj Finserv are among the top performers of the week that have rallied over 15% each on announcement of stock split and bonus shares. On Monday, Tata Steel announced to split its shares in a ratio of 10:1 in its June quarter results and as a result the stock has been on a gaining spree since then. This means that each share of the company has been split in 10 parts, making each share worth one-tenth the cost. Similarly, shares of Bajaj Finserv have also been rallying after the company announced that its board would consider a bonus and stock split on Thursday. It is important to note that the stock split does make a single share of the company cheaper, but it does not cause any change to the market capitalization of the company. Tata Steel’s market shares still linger a little over ₹1,19,000 (about $15 billion) after the stock split. Motilal Oswal explains that the split shares neither add new value nor does it dilute the ownership stake of the shareholders. However, they do increase the number of shares an investor holds. “Imagine a company. It has issued around 1,00,000 equity shares of face value of ₹10 per share. The company decides to split its shares in the ratio of 2:1. What this essentially means is that every share of the company will now be split into two. This will, in effect, increase the number of equity shares of the company to 2,00,000 from the erstwhile 1,00,000. And simultaneously, the face value of the shares would also come down to ₹5 per share,” the brokerage firm said. READ MORE: <a href="https://www.businessinsider.in/stock-market/news/why-is-tata-steel-doing-a-stock-split-and-what-does-it-mean-for-investors/articleshow/93152907.cms">EXPLAINED: A stock split helps increase liquidity in a stock by making it more affordable for retail investors, but does not guarantee an uptick </a> Any company usually takes up a stock split to make the shares more affordable for small retail investors and attracts high trading volume. Tata Steel too had a similar intention behind it, Manoj Dalmia, founder and director of Proficient Equities, told Business Insider. It’s not a new trend either. Multiple Indian companies — including Johnson Pharma, JBM Auto, Jubilant Food — have undergone a stock split this year. Rajnish Wellness, Ontic Finserve, Hindustan Foods and Shanti Educational Initiatives carried out a stock split last Friday on July 22, 2022. Even Bajaj Finserv is contemplating a stock split along with a bonus issue. Tata Steel’s stock split follows its <a href="https://www.businessinsider.in/stock-market/news/tata-steels-net-profit-declines-in-q1-on-the-back-of-rising-raw-material-costs/articleshow/93116879.cms">quarterly results for the first quarter of fiscal year 2023</a>, which showcased a sharp decline of 12.83% in its consolidated profit (₹7,764.96 crore). Its revenues from operations rose by 18.6% to ₹63,430 crore on an annual basis. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/markets-trade-higher-as-us-fed-rate-hike-of-75-bps-priced-in/articleshow/93177494.cms">Markets trade higher as US Fed rate hike of 75 bps priced in</a> <a href="https://www.businessinsider.in/business/corporates/news/tata-motors-net-loss-widens-inflation-china-lockdowns-to-blame-says-company/articleshow/93166365.cms">Tata Motors’ net loss widens – inflation, China lockdowns to blame says company</a> <a href="https://www.businessinsider.in/business/corporates/news/incred-and-kkr-india-financial-services-complete-their-merger/articleshow/93155739.cms">InCred, KKR India Financial Services complete merger, hope to become a ‘leading’ NBFC</a>

Top gainers Tata Steel & Bajaj Finserv rallies over 15% each this week

Indian shares had a tepid start on Tuesday even as investors and traders remained net buyers in a market trading near 13-month lows. <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">Stocks</keyword> in the capital goods, realty and textile sectors were in demand in the first session of trade. 
 The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> fell 17 points to 7,855 in initial trades on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. Vedanta, Tata Motors, Ambuja Cement, Tata Steel and Bharti were the top losers on the index while Maruti, Tech Mahindra, Hindustan Unilever, Yes Bank and BPCL edged up higher. The Advance-Decline Ratio was negative, at 18/31. Maruti, ICICI and Axis Bank were the top traded stocks on the exchange. 
 
Maruti found favour after the Reserve Bank of India allowed foreign investors to buy up to 40 percent equity in the car maker. 
 
Broader indices suffered a bout of early profit booking with the CNX 100, CNX 200 and CNX 500 indices slipped lower in trade. The sector-specific space was mixed with the Bank Nifty and CNX Finance Indices slipping in trade while benchmarks representing the FMCG, Realty, Pharma and Energy indices edging higher. 
 Sentiment was flat on the <keyword id="43628" type="CITY" weightage="100" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> where the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> slipped 41 points to 25,814 in early deals. Bajaj auto, HDFC, Wipro and GAIL slipped in trade while Sun Pharma, ONGC, NTPC showed modest gains. The Advance-Decline Ratio was 10/20 and Coal India, Tata Steel and Axis Bank were the top three traded counters. 
 
The mood was sombre in the futures and options space with action being limited to mid cap futures. Kaveri Seed, Amtek Auto, Britannia and Voltas gained ground while Bharat Forge, Vedanta, Hind Zinc and Hindalco dropped in trade. The Advance-Decline Ratio was seen at 65/92 with the metals and banking space coming under pressure. 
 
Camlin Fine Sciences, JBM Auto, Venkey's India and Corporation Bank were some of the stocks on the list of volume buzzers on the NSE. 
 
 (Image credits: Indiatimes)

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