KEY HIGHLIGHTS
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Rupee Closes Stronger Against US Dollar
Rupee closed 2 paise stronger at 88.59 against US Dollar
It closed at 88.61 a dollar on Tuesday
Source: Bloomberg
Markets At Open: Nifty, Sensex Resume Gains
Nifty closes above 26,000 mark
Nifty outperforms the broader market indices
HCL tech and Infosys emerged as Top nifty gainers
Nifty midcap 150 gains led by L&t tech and Linde india
Nifty small cap 250 gains led by Jaiprakash power and avanti feeds
All sector indices end on mixed note
Nifty IT emerges as top sectoral gainer
Nifty IT gains over 3% in intraday , Top gainers include L&t tech and HCL tech
Nifty media emerged as top sectoral loser, Top losers include Saregama and Dish tv
NIfty oil and gas ,Nifty realty and nifty media falls for second consecutive session
Stock Market LIVE: Acme Solar's Arm Commissions Second Phase of 16 MW
Acme Solar Holdings Ltd.'s arm commissioned second phase of 16 megawatt out of 100 megawatt wind power project in Gujarat, the company said in the exchange filing.
Stock Market LIVE: L&T Signs Contract With Indian Army Along With BAE Systems
Larsen & Toubro Ltd. signed a contract with Indian Army along with BAE Systems to procure BvS10 Sindhu Vehicles. The company will produce Sindhu at armoured systems complex in Hazira, the company said in the exchange filing.
Stock Market LIVE: HG Infra Gets Order Worth Rs 274 Crore
H.G. Infra Engineering Ltd. received Rs 274 crore order from DLF Cyber City Developers for infrastructure works in Gurugram, the company said in the exchange filing.
Stock Market LIVE: Nifty PSU Bank Extends Gains
The NSE Nifty PSU Bank continued to hit new highs in Wednesday's session. The public-sector bank stocks are in focus as the Government is mulling to reforms in the ownership rules, which may open up more space for foreign investors.
Read NDTV Profit's Banking Editor's take on this here.
Stock Market LIVE: Oil India Singns Pact With TotalEnergies To Boost Exploration Activities
Oil India Ltd. signed a pact with the TotalEnergies to boost exploration activities in Indian sedimentary basin, the company said in the exchange filing.
Stock Market LIVE: Nifty PSU Bank Rises To Fresh High
The NSE Nifty PSU Bank rose 1.22% to 8,568.25. The index was trading 1.21% higher at 8,580 as of 2:18 p.m.
Stock Market LIVE: Nifty Bank Hits New High
The NSE Nifty Bank index rose 0.39% to a record high of 59,107.50. Bank of Baroda, Punjab National Bank, and State Bank of India were top gainers in the index.
Stock Market LIVE: MV Goodman Will Go Back To Field Shortly, Seamec Says
Seamec's vessel 'MV Goodman' developed technical snag, which is off hired effective Nov 18. The vessel will go back to field shortly after upon completion, the company said in the exchange filing.
Stock Market LIVE: Bondada Engineering In Pact With Adani Group For Design & Construction Partnership
Bondada Engineering is in pact with Adani Group for design and construction partnership in renewable energy. The company received 650 megawatt solar energy order as a part of five-year partnership framework.
Adani Group Wins Bid For Jaiprakash Associates Under Insolvency Proceedings
Adani Group scored highest in lender evaluation
Adani Group was only bidder to bid unconditionally
Adani Group seeks to buy all of JAL’s assets
Other bidders include Dalmia Group and Vedanta
Lenders set to issue letter of intent to Adani Gro
Stock Market LIVE: NBCC Sells 609 Residential Units Worth Rs 1,069 Crore
NBCC (India) Ltd. sold 609 residential units worth Rs 1,069 crore at towers in Noida, the company said in the exchange filing.
Stock Market LIVE: LensKart's Board To Consider Earnings In Nov 29
LensKart's board will consider earnings on Nov 29.
Block Deal: Power Grid Has 17.62 Lakh Shares Change Hands In Block Deals
Power Grid Corp had 17.62 lakh shares changed hands in multiple block deals.
Explained: Cognizant Employee Activity Monitoring Controversy And Clarification From Company
Cognizant has reportedly started training select executives on ProHance, a workforce-management tool that tracks how long employees remain active on their laptops. The new tracking system also monitors the applications and websites used by employees during work hours.
Stock Market LIVE: Jaiprakash Power Share Price Rises
Jaiprakash Power Ventures share price rose 9.13% to Rs 19.25 apiece. It was trading 5.90% higher at Rs 18.69 apiece as of 11:33 a.m.
Stock Market LIVE: Marksans Pharma's Arm Get Nod For Loperamide Hydrochloride
Marksans Pharma's arm received a final nod from the US Food and Drug Administration for ANDA of Loperamide Hydrochloride tablets. These tablets are used in treating diarrhea, the company said in the exchange filing.
Stock Market LIVE: Promoter Sells 16% Stake In Sagility
Sagility BV sold 16% stake in Sagility on Nov 17.
Stock Market LIVE: Ugro Capital Will Raise Funds Worth Rs 100 Crore
Ugro Capital Ltd. will raise funds worth Rs 100 crore via non-convertible debentures on a private placement basis, the company said in the exchange filing.
Stock Market LIVE: TCS Shares Gain After Securing Five-Year NHS Supply Chain Contract
Tata Consultancy Services Ltd.’s share price rose 1.68% on Wednesday a day after the company secured a five-year contract from the UK's National Health Service supply chain to provide application development support and maintenance for its core business systems and cloud infrastructure.
Stock Market LIVE: Knowledge Marine Gets Order Worth Rs 348 Crore From Visakhapatnam Port Authority
Knowledge Marine & Engineering Ltd. received order worth Rs 348 crore from Visakhapatnam Port Authority for technical management of tug, the company said in the exchange filing.
Cohance Shares Dip As JPMorgan Downgrades Co On Higher Execution Risks, Premium Valuation
Cohance Lifesciences Ltd. continues to face short-term pressure, even as its long-term growth story stays intact, believes brokerage firm JPMorgan.
JPMorgan downgraded the counter from 'overweight' to 'neutral', and set a price target of Rs 640 by March 2028, implying an upside potential of 7%.
IPO News: Tenneco Clean Air Shares Debut At 27% Premium Over IPO Price
Tenneco Clean Air India Ltd. listed on the National Stock Exchange on Wednesday at Rs 505 apiece, a premium of 27.20% over its issue price of Rs 397 apiece.
On the BSE, the stock debuted at Rs 498, a 25.44% premium.
Stock Market LIVE: Groww Share Price Hits 10% Lower Circuit
Groww's parent, Billionbrains Garage Ventures Ltd. share price snapped its six-day gaining streak on Wednesday.
IPO News: Tenneco Clean Air Lists
Stock Market LIVE: Hero MotoCorp Target Price, Rating Raised By JPMorgan Amid Strong EV-Led Recovery
Hero MotoCorp Ltd. is now on the path of recovery on the back of demand revival, strengthening EV market share and narrowing of valuations said JPMorgan in a note on Wednesday. The brokerage has also upgraded Hero MotoCorp to Overweight from Neutral and raised its price target to Rs 6,850 from Rs 5,640, signalling renewed confidence in India's largest two-wheeler manufacturer.
Stock Market LIVE: Citi Research Hikes Target Price To rs 1,615
Citi Research maintained a Buy with a target price of Rs 1,615, which implied a 51% upside
Adding Upside 90-Day Catalyst Watch
Expect 360 One’s recurring flows to benefit
Positives - current momentum in primary markets, other monetization events and one-off inflows from newly added RM teams
Q3/H2 is likely to surprise on the upside in net flows
Carry income and transactional revenue is likely to remain robust
See stability in core transactional revenue
Valuations at 28X FY27E EPS remain encouraging
Stock Market LIVE: HUL Shares In Focus: Demerger To Take Effect On Dec. 1
The shares of Hindustan Unilever Ltd. rose nearly 2% on Wednesday as the demerger of Kwality Wall's (India) Ltd. from HUL will take effect on Dec. 1. The board on Tuesday also fixed Dec. 5, as the record date to determine the eligible shareholders entitled to receive equity shares of KWIL.
The demerger of Kwality Wall's (India) Ltd. from Hindustan Unilever Ltd. will take effect on Dec. 1, the company announced on Tuesday. The board fixed Friday, Dec. 5, as the record date to determine the eligible shareholders entitled to receive equity shares of KWIL.
Stock Market LIVE: LG Electronics Shares Surge After Morgan Stanley Initiates Coverage
Shares of LG Electronics Ltd. are trending positive on Wednesday's session following Morgan Stanley's initiation and a subsequent note that highlights the company's excellent fundamentals.
The stock is trading at Rs 1,653, reaching intraday high of Rs 1,663. This accounts for gains of almost 2% and compares to Tuesday's closing price of Rs 1,624.
Stock Market News: Blue Cloud In Pact With Konkan Railway Corp
Blue Cloud signed a memorandum of understanding with the Konkan Railway Corp for 5G network with the back haul support and value-added services, the company said in the exchange filing.
Stock Market LIVE: KEC International Share Price Falls Over 7%
KEC International share price declined 7.29% to Rs 724.7 apiece. It was trading 5.92% down at Rs 735.05 apiece as of 9:28 a.m. as compared to 0.01% advance in the NSE Nifty 50 index.
The company has been excluded from participating in Power Grid tenders for 9 months, with no impact on existing Power Grid projects or its overall operations.
Sectoral Performance At Open: Nifty Media Declines The Most
Nifty Detractors: HDFC Bank, BEL, ITC Shares Weigh
Markets At Open: Nifty, Sensex Open Slightly Lower
The NSE Nifty 50 and BSE Sensex opened slightly lower as HDFC Bank Ltd., Bharat Electronics Ltd. shares weighed. The indices were trading 0.19% and 0.03% down, respectively as of 9:20 a.m.
Yield On 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.48%
Source: Bloomberg
LIVE: Rupee Opens Stronger Against US Dollar
Rupee opened 3 paise stronger at 88.58 against US Dollar
It closed at 88.61 a dollar on Tuesday
Source: Bloomberg
Pre-Market Experts' View: Nifty 50 To Consolidate As Globally Cautious Sentiment Prevails
"Nifty index took a halt around its price resistance of 26100 spot levels and showing signs of a short term congestion/consolidation in 25,700-26,100 spot zone. Overall chart structure is positive till Nifty is holding above 25,300 spot levels on closing basis."Vipin Kumar, Assistant Vice President, Technical and Derivatives Research at Globe Capital Market Ltd
"We believe the 20-day SMA (simple moving average) around 25,800/84,500 and 25700/84200 would act as key support zones for traders. As long as the market trades above these levels, the positive trend is likely to continue. On the higher side, 26,000/85,000 will be the immediate resistance zone for bulls. A breakout above 26,000/85,000 could take the market towards 26,100-26,125/85,300-85,500."Shrikant Chouhan, Head, Equity Research, Kotak Securities
Five Stocks To Buy: Axis Bank, Biocon, Coromandel International, KPR Mill, Praj Industries
NDTV Profit brings these five stocks for Wednesday's trading session from various analysts' recommendations. Traders choose from financials, pharmaceutical industries, infrastructure, and fertilisers sectors.
Get more details here.
HUL Demerger To Take Effect On Dec. 1: Board Sets Record Date, Share Ratio
The demerger of Kwality Wall's (India) Ltd. from Hindustan Unilever Ltd. will take effect on Dec. 1, the company announced on Tuesday. The board fixed Friday, Dec. 5, as the record date to determine the eligible shareholders entitled to receive equity shares of KWIL.
The share entitlement ratio is 1:1 which means one fully paid-up equity share of face value of Rs 1 in KWIL will be given for every one held in HUL.
More details here.
Stocks To Watch Today: Infosys, TCS, HUL, Waaree Energies, MGL, Azad Engineering
Big players such as Tata Consultancy Services Ltd., Infosys Ltd., Mahanagar Gas Ltd., and Hindustan Unilever Ltd. have made it to the stocks to watch roster for Wednesday.
Read some of the notable corporate announcements that came after Tuesday's market hours here.
Infosys Shares In Focus: Rs 18,000 Crore Buyback Opens Thursday
Infosys Ltd. shares are in focus as the IT major gears up for its mega buyback, set to open on Nov. 20 and close on Nov. 26. The company, through an exchange filing on Tuesday, laid out a detailed timetable for what promises to be a crucial week for shareholders participating in the Rs 18,000 crore programme.
Asia Markets LIVE: Japan's Nikkei 225 Trades Slightly Higher
Most markets in Asia-Pacific were trading with marginal gains as market participants await the quarterly results of Nvidia Corp, scheduled for release later today.
The Nikkei 225 was 0.63% higher, while the KOSPI were trading 0.27% lower as of 6:54 a.m.
LIVE: GIFT Nifty Hints At Muted Open; TCS, CAMS, Jindal Stainless Shares In Focus
The GIFT Nifty was trading 0.09% or 24.40 points higher at 25,935 as of 6:31 a.m., which implies a muted open for the benchmark NSE Nifty 50 index.
Traders will keep an eye on Tata Consultancy Services Ltd., Computer Age Management Services Ltd., Jindal Stainless Ltd., and Hindustan Unilever Ltd. shares because of the overnight news flow.
Indian benchmark indices snapped their six-day rally, with the Sensex slipping 277.93 points or down 0.33% to close at 84,673.02, and the Nifty declining 103.40 points or 0.40% to end at 25,910.05.
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