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#753 Daily Money Show: Stock Market News
Original: # 753 Daily Money Show | Money Purse Stock Market News
Takeaway
Morgan Stanley flags NTPC and Power Grid as top picks for the $550B Indian power capex cycle; defence acquisitions and Tata Agratas IPO are key tailwinds.
Summary
- Sensex +376 to 72,426; Nifty +129 to 22,400; midcap +0.68%, smallcap +0.72%, Bank Nifty +0.36%
- Morgan Stanley on power sector: prefers regulated utilities — NTPC top pick (Overweight, TP Rs 390), Power Grid Overweight TP Rs 296, BHEL Equal-weight; Tata Power and Torrent Power Underweight due to conservative managements; forecasts $550B power capex over 10 years
- Rain Industries surged on Supreme Court update — pet coke import limit revised allowing higher quantity for Rain Carbon
- Defence Acquisition Council approved Rs 80,000 crore worth equipment procurement under Make-in-India; positive for HAL, BEL, and private defence companies
- Tata Motors launching Ultra T9 and T14 commercial trucks in South Africa; Borosil Renewables filed anti-dumping duty application on textured tempered coated/uncoated glass from China and Vietnam; Tata Group's Agratas battery business eyeing IPO at $5-10B valuation
power sectorNTPCdefence
Original description
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