After opening the day on a positive note, Indian share markets gave up all the gains as the session progressed and ended lower.

Benchmark indices struggled for direction and ended in the red as Adani group stocks remained under pressure and as investors continued to worry that the US Federal Reserve would keep interest rates higher for longer.

At the closing bell, the BSE Sensex stood lower by 311 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 99 points (down 0.6%).

Divis Laboratories, Hindalco, and Tech Mahindra were among the top gainers today.

Cipla, Adani Enterprises, and Britannia on the other hand were among the top losers today.

The SGX Nifty was trading at 17,863.5, down by 74 points, at the time of writing.

Broader markets ended on a negative note. The BSE Midcap index fell 0.1% and the BSE SmallCap index ended 0.2% lower.

Sectoral indices ended on a mixed note with stocks in the auto sector, and the media sector witnessing most of the buying.

On the other hand, stocks from the banking sector, and energy sector witnessed selling pressure.

Shares of Bosch, Shree Cement, and Sonata Software hit their 52-week high today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Outside the home ground, Asian share markets ended on a positive note.

At the close in Tokyo, the Nikkei ended higher by 0.1%, while the Hang Seng rose 0.8%. The Shanghai Composite ended higher by 2.1%.

The rupee is trading at 82.73 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.1% at Rs 56,312 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.2% at Rs 65,730 per kg.
 

Adani Group slips from US$100 billion groups list

Adani Group's market capitalization slipped below US$ 100 billion (bn) on Monday, a fall of more than US$135 bn since 24 January 2023, the day US-based Hindenburg Research released the report.

The group has seen overall market capitalization erosion of nearly US$ 200 bn from the peak of US$ 290 bn seen in September 2022.

Barring Adani Power, all other Adani Group companies ended with losses between 0.5% to 6%.

Adani Power shares were locked in an upper circuit of 5%. On the other hand, non-F&O names like Adani Total Gas, Adani Transmission, and Adani Green Energy were locked in the lower circuit band of 5%.

News flow continues to keep the Adani Group companies in the headlines.

The Supreme Court today refused to take on record a report published by Forbes about the share dealings of the group.

Reports also revealed the group's decision to club non-current investments and security money put up as bank guarantees as part of its cash equivalents. The new methods are in contrast with how the group defined cash and cash equivalents until the end of last year.
 

TCS partners Telefonica Germany

In news from the IT sector, TCS's share price was in focus today.

Tata Consultancy Services (TCS) has been selected by Telefónica Germany to transform its end-to-end service assurance applications and processes within its Operations Support Systems (OSS) stack and further enhance customer experience.

Toward realizing this vision, TCS will leverage best-in-class methodologies and deep cloud expertise to modernize the OSS service.

This will enable Telefónica Germany to implement zero-touch cloud-based operations and provide consumers with a more resilient network service.

The reimagined service assurance processes will result in faster turnaround times and a transformed customer experience.

TCS has been present in Germany since 1991 and partners with over 100 leading German corporations in their growth and transformation journeys.

TCS has also been ranked as the fastest-growing IT service provider in Germany.

The company has remained an investor's favorite stock for a long time.

This is because it has created phenomenal wealth for its shareholders since its listing in 2004 and has always been among the most admired companies in India.

If you had invested Rs 1 lakh in TCS shares at the issue price of Rs 850 in the IPO in 2004, the value of that investment today would be around Rs 3,176,000, a return of almost 3,000%.

With revenue growth of 10% in 5 years, it is among the top 5 IT companies in India by revenue.
 

Tata Motors bags largest EV order from Uber

Moving on to news from the automobile sector, the share price of Tata Motors rose 1% today

Tata Motors, on 20 February 2023, signed a Memorandum of Understanding (MoU) with ride-sharing app Uber.

The companies have inked a pact for 25,000 units of Tata Motor's XPRES-T electric sedan for Uber India's premium category vehicles. This MoU marks the largest four-wheeler EV fleet order in the Indian industry.

This electric fleet of Uber would become operational across Delhi NCR, Mumbai, Kolkata, and many more places.

The homegrown automaker will start the deliveries of the cars to Uber fleet partners in a phased manner, starting February 2023.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Take a look at the chart below, which shows the massive opportunity in the two-wheeler EVs.

It remains to be seen how the above development plays out.

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