Daily Stock Market News: Sensex Closed At 59,141, Gained 417 Points Today, Nifty Closed At 17,629 Points, Gained 110 Points Today And Bank Nifty Closed At 37,668 Points, Gained 816 Points Today.
Daily Stock Market News : 16-09-2021
Top Gainers Of Today’s Stock Market
Top Losers Of Today’s Stock Market
Today Is The Ex-Dividend Date Of BPCL, That Is The Reason Why Stock Is Fallen 10%.
For More Info Like Only Buyers And Sellers Stocks Or 52 Week High Or Low Stocks Click Here.
Today Meme Favorite, Once In A Life Time Movement ( Jokingly ) And The Most Speculative Stock ITC Rallied More Than 6%. Morning Opened In Flat, But Later Rallied Very Strongly.
The Reason For This Rally Is, Recently FMCG Stocks Rallied A Lot. But ITC Not Participated In The Rally, The Other Reason Is Tourism And Hospitality Stocks Also Rallying. Previously Most Of The Broking And Rating Agencies Downgraded ITC Because Of The Losses Making By The Company In Hotel Sector.
But Now The Data Is Positive Regarding Tourism And Hospitality Stocks. Some Other Reasons Are There Is A Major Update Regarding Tobacco Stocks, Tobacco Stocks Rallied A Lot.
Mostly ITC Is Considered As A FMCG Stock, But Still, ITC Is A Tobacco Stock Because More Than 80% Of the Operating Profits Of ITC Are From the Tobacco Business. Due To the Removal Of Lockdown Consumption Of Cigarettes Is Increasing, Hotel Occupancies Also Increasing, Improving FMCG Business And The Stock Is Trading At Low PE Compared To Other FMCG Stocks.
For Comparison, ITC Is Trading At A PE Multiple Of 17, Hindustan Unilever At 62, Marico At 49, EMAMI At 31, Nestle At 70, And Godrej At A PE Multiple Of 48.
All These Updates Are There In The Market For A Long Time And Mostly Everyone Know About This Updates. But The Most Important Update Is Till Now There Is No Permissions For Foreign Direct Investment In Tobacco Business. But Today Parliament Panel Has Passed A Proposal To Allow Foreign Direct Investment In Tobacco Business.
The Proposal Is Not Yet Finalized, By This Update, Most Of The Tobacco Stocks Rallied A Lot.
Today Bank Nifty Out Performed Both Nifty And Sensex And Yes, IDFC First Bank, Yes Bank, IndusInd Bank, And State Bank India Rallied A Lot.
In the Previous Daily Stock Market News Article, We Already Discussed That IDFC First Bank And Yes Bank Has Most Of Its Loan Book Exposure To Vodafone Idea. But If We In Terms Of Money SBI Has 11,000 Crores, IndusInd Bank 3,500 Crores, IDFC First Bank 3,240 Crores And Yes Bank 4,000 Crores.
As Vodafone Is In Crisis That Impact Was Shown On This Banking Stocks Previously, But Now As There Are Some Reliefs For Telecom Sector Vodafone Idea Rallied, Along With VI The Banking Stocks Which Given Loans To VI Also Rallied, In The Positive Hope Of That Vodafone Idea Will Repay There Loans.
Vodafone Idea Need To Increase Their Business 2.5 Times To Sustain In Market.
Yesterday Cabinet Has Announced PLI Schemes For Auto Sector. Auto Sector Means Not For All, The 26,000 Crore Rupees PLI Scheme Is Only To Focus On Electric Vehicles And Hydrogen Fuel Cells.
In That 26,000 Crore Rupees, 120 Crores Will Be Allocated To Drone Manufacturing Companies. Zen Tech Is A Drone Manufacturing Company And It Already Rallied In Lot In The Past Few Days.
Mainly The PLI Scheme Is Positive For Tata Motors, Because Tata Motors Is Making Electric Vehicles Globally And Also Moving Aggressively In EV Sector. Tata Motors Also Have Advantage In Terms Of Technology As Tata Has Other Subsidiaries In EV Sector Which Working On EV Tech.
Previously Government Announced That There Are Going To Sell 10% Of Stake In Hind Copper At A Floor Price Of 116 Rupees, Which Is a 6.82% Discount. As The Government Announced OFS At 116 Rupees Which Is At Discount, Today The Stock Has Fallen And Closed Near To 116 Rupees.
Fineotex Chemical Rallied More Than 9% Today. The Reason For This Rally Is The Company Has Entered Into A Strategic Collaboration With EURODYE-CTC, Belgium, To Commercialize Specialty Chemicals For Textile Industry In The Indian Market.
Textile Industry Already Has Good Demand And The Government Also Taking Strong Steps In Textile Industry And To Increase Textile Imports. As The Company Is entering Into A Sector Which Has Good Demand, The Stock Rallied More Than 9%.