KEY HIGHLIGHTS
FPIs Continue To Be Net Buyers
Overseas investors continued to be net buyers of Indian equities on Thursday after being seller for 14 consecutive sessions.
Foreign portfolio investors mopped up stocks worth Rs 550.19 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors also remained net buyers and bought equities worth Rs 705.65 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 96,079 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Higher
The yield on the 10-year bond closed 2 bps higher at 7.24% on Thursday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 9 paise to close at 83.24 against the U.S dollar on Thursday.
It closed at 83.15 on Wednesday, highest in nearly four weeks.
Source: Bloomberg
Sensex, Nifty Advance After Correcting From Day's High: Market Wrap
India's benchmark stock indices pared gains after rising over 1% on Thursday as I.T., healthcare and consumer durable sectors advanced, while banks and fast moving consumer goods were under pressure. The headline indices closed at a four-week high.
The S&P BSE Sensex closed up 307 points, or 0.47%, at 65,982.48 while the NSE Nifty 50 was 90 points or 0.46% higher at 19,765.20.
Intraday, Sensex rose 1.04% to 66,358.37, the highest level since Oct. 18, 2023. Nifty rose 1.02% to 19,875.25, the highest level since Sept. 20, 2023. Nifty closed over 100 points lower from the day's high, whereas Sensex slipped over 400 points from the highest levels.
"Today, Nifty crossed the 19,800 mark, and the Sensex surged by 450 points, benefiting from positive sentiments in global markets, all thanks to a dip in global inflation numbers for October," according to Shrey Jain, founder and chief executive officer, SAS Online - India's Deep Discount Broker.
Stocks paused their rally as the euphoria over a potential dovish pivot by central banks faded.
The MSCI Asia Pacific Index trimmed declines of as much as 0.8%, halting a three-day winning run. Europe’s Stoxx 600 Index steadied after three days of gains. The MSCI Asia Pacific Index slid 0.4% with Chinese shares in Hong Kong leading the decline. South Korean shares were little changed.
Infosys Ltd., Tata Consultancy Services Ltd., Bajaj Finance Ltd., HCL Technologies Ltd., and HDFC Bank Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, Axis Bank Ltd., ICICI Bank Ltd., ITC Ltd. Larsen & Toubro Ltd., and Power Grid Corp. were negatively contributing to the change.
The broader markets ended higher; the S&P BSE MidCap Index was up 0.52%, whereas S&P BSE SmallCap Index was 0.52% higher.
Seventeen out of 20 sectors compiled by BSE advanced, while three sectors declined. S&P BSE Information Technology and S&P BSE Teck rose the most.
The market breadth was skewed in the favour of the buyers. About 2,035 stocks rose, 1,717 declined, while 122 remained unchanged on the BSE.
During the last five General elections the markets had rallied in the run up to the elections with returns ranging from 3.1% to 30.4% in the six months to the elections, as per Dr. V K Vijayakumar, chief investment strategist at Geojit Financial Services.
"Markets like stability and, therefore, the market’s preference would be the continuation of the BJP regime. But if the I.N.D.I.A alliance succeeds in toppling the NDA, there will be a sharp correction in the market. But the probability of such an outcome is very low now," he added.
Reversals In Trade: Motilal Oswal, Bajaj Finserv, BSE
Motilal Oswal Financial Services pares losses 3.89%, trades 0.93% higher
Bajaj Finserv pares losses of 3.02% , trades 2.01% higher
Sona BLW Precision Forgings pares gains of 2.66% , trades at 2.08% lower
BSE off the day's low, trades 1.2% higher
ICICI Bank Has 20.3 Lakh Shares Change Hands
20.3 lakh shares changed hands in a large trade
0.03% equity changed hands at Rs 940.95 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Reliance Industries Has 10.6 Lakh Shares Change Hands
10.6 lakh shares changed hands in a large trade
0.02% equity changed hands at Rs 2,368 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Wockhardt Shares Jump Over 19%
Wockhardt Ltd. shares rose as much as 19.21% to 334.75 apiece, the last time the shares touched this level was in March 2022. It pared gains to trade 17.31% higher at Rs 329.40 apiece, as of 1:45 p.m. This compares to a 0.64% advance in the NSE Nifty 50 Index.
It has risen 47.59% on a year-to-date basis. Total traded volume so far in the day stood at 16 times its 30-day average. The relative strength index was at 82, indicating that Wockhardt stock may be overbought.
Dr Reddy's Laboratories Introduces Wearable Migraine Management Device Nerivio In India
European Markets Trade Mixed
Stocks Hitting 52-Week High Intraday
Tata Motors Shares Jump 2% To Hit Record High
Shares of Tata Motors Ltd. rose 2.08 % to 685.50 apiece, a record high since its listing on exchanges. It pared gains to trade 1.28% higher at Rs 680.15 apiece, as of 12:35 a.m. This compares to a 0.6% advance in the NSE Nifty 50 Index.
It has risen 75.72% on a year-to-date basis. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 69.59.
Out of 35 analysts tracking the company, 28 maintain a 'buy' rating, 3 recommend a 'hold,' and 4 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 58.1%
Jyothy Labs Shares Jump Nearly 5%
Shares of Jyothy Labs Ltd. fell as much as 4.8% to 436.6 apiece after adding 10.8% in the last three sessions. It pared losses to trade 4.1% lower at Rs 439.75 apiece, as of 12:30 p.m. This compares to a 0.2% advance in the NSE Nifty 50 Index.
It has risen 114.35% on a year-to-date basis. Total traded volume so far in the day stood at two times its 30-day average. The relative strength index was at 71.
Out of 13 analysts tracking the company, 10 maintain a 'buy' rating, two recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 0.6%.
Fitch Affirms UltraTech's Ratings At 'BBB-'; Outlook Stable: Fitch Ratings
PTC India To Divest PTC Energy To ONGC For Rs 2,021 Crore
Divestment of arm PTC Energy to ONGC at enterprise value of Rs 2,021 crore.
To soon achieve a debt-free status after divestment of arm PTC Energy to ONGC.
Source: PTI
Pennar Industries Gets Orders Of Rs 669 Crore Across Various Business Verticals
Nifty IT Leads Advance
Nifty IT up 2% led by Coforge, TCS, Mphasis
Index gains Rs 67,000 crore in market capitalisation in a day
Index up 8.81% year-to-date
Sensex, Nifty Recover As TCS, Infosys Lead: Midday Market Update
India's benchmark stock indices recovered after opening lower through midday on Thursday. I.T. and Healthcare sectors advanced whereas metal and PSU banks were under pressure.
As of 12:09 p.m., the S&P BSE Sensex was up 430 points, or 0.65%, at 66,105.41 while the NSE Nifty 50 was 119 points or 0.60% higherat 19,794.40.
Presently, the 19,500 level serves as immediate support for Nifty. On the higher side, resistance levels are identified at 19,850 and 19,900, said Mandar Bhojane, research analyst at Choice Broking.
Intraday, Sensex rose 0.69% to 66,129.18 and Nifty 50 rose 0.65% to 19,802, the highest levels since Oct. 18, 2023.
"The up-move can be extended to 19,800 from current levels," said Vikas Jain, Senior Research Analyst at Reliance Securities.
"Our view is that the short-term market structure is strong, but due to temporary overbought conditions, we may witness positive consolidation activity in the near future," said Shrikant Chouhan, head – equity research, Kotak Securities Ltd.
Asian shares halted a three-day rally, while the dollar strengthened amid concern this week’s gains on weak U.S. inflation print are overdone.
The MSCI Asia Pacific Index slid 0.4% with Chinese shares in Hong Kong leading the decline. U.S. futures dropped, effectively erasing the 0.2% gain in the S&P 500 on Wednesday.
On Wednesday, the S&P 500 gained 0.2%, helped along by favorable corporate earnings and bets Federal Reserve tightening has reached the peak.
Tata Consultancy Services Ltd., Infosys Ltd., HDFC Bank Ltd., Reliance Industries Ltd., and HCL Technologies Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, Power Grid Corp., Axis Bank Ltd., Hindalco Industries Ltd., Coal India Ltd., and Adani Enterprises Ltd. were negatively contributing to the change.
The broader markets were trading higher; the S&P BSE MidCap Index was up 0.36%, whereas S&P BSE SmallCap Index was 0.60% higher.
Nineteen out of 20 sectors compiled by BSE advanced, while S&P BSE Metal declined. S&P BSE Information Technology rose the most.
The market breadth was skewed in the favour of the buyers. About 2,143 stocks rose, 1,422 declined, while 163 remained unchanged on the BSE.
Bondada Engineering Hits Upper Circuit; Wins Orders Worth Rs 34.4 Crore From BSNL
Shares of Bondada Engineering Ltd were locked in at its upper circuit of 5% limited after the company announced that it has received orders worth Rs 34.24 Crore from Bharat Sanchar Nigam Ltd.
The company will provide infrastructure as a Service for supply and erection of ground based tower, infrastructure as a Service Provider for supply installation of infrastructure item and subsequent operations and management for five years for the Cluster of Lakshadweep.
The scrip rose as much as 5% to 401.50 apiece, its upper circuit limit. It pared gains to trade 3.7% higher at Rs 396.40 apiece, as of 11:00 a.m. This compared to a 0.6% rise in the benchmark BSE Sensex.
Total traded volume so far in the day stood at 1times its 30-day average. The relative strength index was at 74, indicating that the stock may be overbought.
RateGain Travel Technologies Falls Over 4% After QIP Issue Announcement
Shares of RateGain Travel Technologies Limited fell 4.33% on Thursday after the company opened its qualified institution placement issue on Wednesday. The travel technology company set the floor price for the issue at Rs 676.66 per share, based on the pricing formula prescribed by SEBI.
The company in an exchange filing said, "The floor price in respect of the aforesaid Issue based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is ₹676.66 per Equity Share."
The notification from RateGain Travel Technoloies further states, "the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue."
The scrip fell as much as 4.33% to 681.10 apiece. It pared losses to trade 1.40% lower at Rs 701.95 apiece, as of 11:31 a.m. This compares to a 0.6% advance in the NSE Nifty 50 Index.
It has risen 145.98% on a year-to-date basis. Total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 65.06.
All 6 analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 2.08%.
Bank Of Baroda Seeks Proposal From Valuation Firms To Conduct Valuation Of Nainital Bank
Present shareholding of Bank of Baroda in Nainital Bank Ltd. is 98.57%
Last date for submission of proposal is Dec. 6, 2023.
The proposal of the investments, equity shares and other assets of NBL will be reviewed and scored by a committee.
Alert: Bank of Baroda had approved divestment of its majority stake in Nainital Bank in December 2022.
Source: Bank of Baroda website
Divi's Labs Gets Notice For GST Demand Of Rs 164 Crore
Sensex Up Above 66,000 For The First Time Sice Oct. 18
Nifty Oil & Gas, Nifty Metal Lead
Nifty Oil & Gas gains over 0.9% led by NTPC and IOCL
NTPC gains over 2% hitting Life time high of 253.85
TCS gains over 2%
Nifty IT gains over 1% led by TCS, HCL, Infosys.
Nifty Metal amongst the top loosers dragged down by Vedanta, Hindalco.
Axis Bank Has 10 Lakh Shares Change Hands
10 lakh shares changed hands in a large trade
0.03% equity changed hands at Rs 1039.50 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Petronet LNG Has 35.4 Lakh Shares Change Hands
35.4 lakh shares changed hands in a large trade
0.24% equity changed hands at Rs 197.85 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Puravankara Gets Redevelopment Rights For Two Societies In Mumbai
Gets redevelopment rights for two societies in Mumbai.
Redevelopment rights have potential Gross Development Value of RS 1,500 crore.
Source: Bloomberg
ICICI Bank Has 20.2 Lakh Shares Change Hands
20.2 lakh shares changed hands in a large trade
0.03% equity changed hands at Rs 940.15 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Sensex, Nifty Near Four-Week High
Sensex rises over 65,800 level, the highest level since Oct. 19.
Nifty 50 above 19,700 mark, the highest level since Oct. 18.
Protean eGov Technologies Shares Rise 38.15% Since Listing
Shares of Protean eGov Technologies Ltd. rose as much as 15.42% to 1,223 apiece, the highest level since its listing on Monday, Nov. 13. It pared gains to trade 15.13% higher at Rs 1,219.90 apiece, as of 10:07 a.m. This compares to a 0.20% advance in the S&P BSE Sensex Index.
The shares have risen 38.15% on since listing on Monday. It debuted flat at Rs 792 apiece on the Bombay Stock Exchange. The IPO price was Rs 792 apiece.
The shares ended at a premium of 11.49% over the IPO price to end at Rs 883 apiece on Monday, Nov. 13.
Satin Creditcare Network Hits Four-Year High As Board Plans To Consider Fundraise
Shares of Satin Creditcare Network Ltd. hit a four-year high after it informed the exchanges on late Wednesday that the board of directors will consider raising funds on Nov. 20 meeting.
The board will consider the proposal of raising funds by the issuance of listed/unlisted, secured/unsecured, and non-convertible debentures on a private placement basis.
The scrip rose as much as 5.26% to 274.40 apiece, the highest level since Oct. 9, 2019. It pared gains to trade 3.18% higher at Rs 269 apiece, as of 9:52 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.
The shares have risen 71.49% on a tear-to-date basis. Total traded volume so far in the day stood at 1.7 times its 30-day average. The relative strength index was at 67.3.
One analyst tracking the company maintains a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 21.1%.
Stocks At All-Time High
Welspun Corp up 5.3%, hits fresh record high at Rs 549
Solar Industries India up 3.55%, hits fresh record high at Rs 6815
Multi Commodity Exchange Of India up 3.27%, hits fresh record high at Rs 3030
Hindustan Aeronautics up 2.58%, hits fresh record high at Rs 2155
NTPC up 1.74%, hits fresh record high at Rs 252.55
PCBL up 1.33%, hits fresh record high at Rs 219.4
Varun Beverages up 1.53%, hits fresh record high at Rs 1033.15
Kfin Technologies up 1.1%, hits fresh record high at Rs 538.5
Tata Motors DVR up 1.21%, hits fresh record high at Rs 461.9
Prestige Estates Projects up 0.84%, hits fresh record high at Rs 890.95
Tata Motors up 0.44%, hits fresh record high at Rs 678.7
Bikaji Foods International up 0.23%, hits fresh record high at Rs 559.8
Tata Consumer Products up 0.11%, hits fresh record high at Rs 933
Eclerx Services up 1.72%, hits fresh record high at Rs 2473.45
Stocks At 52-Week High
Manappuram Finance up 6.21%, hits 52-week high at Rs 160.95
Suzlon Energy up 3.7%, hits 52-week high at Rs 42
Hindustan Petroleum Corporation up 2.66%, hits 52-week high at Rs 326.8
Vodafone Idea up 2.85%, hits 52-week high at Rs 14.65
Glaxosmithkline Pharmaceuticals up 2.15%, hits 52-week high at Rs 1644.9
NLC India up 1.76%, hits 52-week high at Rs 166.85
Quess Corp up 1.97%, hits 52-week high at Rs 515
Bharat Petroleum Corporation up 1.54%, hits 52-week high at Rs 400
RBL Bank up 1.03%, hits 52-week high at Rs 257.75
ONGC up 0.98%, hits over five-year high at Rs 203.4
Gujarat Narmada Valley Fertilizers & Chemicals up 0.95%, hits 52-week high at Rs 720.5
Sobha up 0.55%, hits 52-week high at Rs 869.5
Network18 Media & Investments up 0.18%, hits 52-week high at Rs 85.3
Eicher Motors up 0.64%, hits 52-week high at Rs 3873
Bajaj Finance Falls Over 4% To Three-Month Low As RBI Bars Some Digital Lending Products
Shares of Bajaj Finance Ltd. fell to near three-month low after the Reserve Bank of India barred the company from lending under its “eCOM” and “Insta EMI Card” products.
“This action is necessitated due to non-adherence of the company to the extant provisions of digital lending guidelines of Reserve Bank of India, particularly non-issuance of key fact statements to the borrowers under these two lending products and the deficiencies in the key fact statements issued in respect of other digital loans sanctioned by the company,” the RBI said in a statement on Wednesday.
The regulator said that it would review the supervisory restrictions after the company rectifies the deficiencies to the RBI’s satisfaction.
Shares of Bajaj Finance Ltd. fell as much as 4.06% to Rs 6,931.25 apiece, the lowest level since Aug. 21, 2023. It pared losses to trade 1.97% lower at Rs 7,082.25 apiece, as of 9:34 a.m. This compares to a 0.15% decline in the NSE Nifty 50 Index.
The shares have risen 7.65% on a tear-to-date basis. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 27, implying that the stock maybe oversold.
Out of the 34 analysts tracking the company, 26 maintain a 'buy' rating, four recommend a 'hold' and four suggest to 'sell' the stock, according to Bloomberg data. The average 12-month consensus price target implies an upside of 28.8%.
Nifty Realty Rises, Metal Declines
Benchmark indices trade 0.2% lower; Bajaj Finance, Power Grid Corp top losers
Nifty Smallcap 250 up 0.16%, hits fresh life high of 12,911
Nifty Realty up 0.3%, hits fresh high at 685.7
Nifty Auto up 0.14%, hits fresh high at 16,683.5
Sectoral indices trade mixed
Oil & Gas, Realty top gainers; Metal, Financial Services top losers
Broader Markets Outperform
The broader markets outperformed; the S&P BSE MidCap Index was up 0.12%, whereas S&P BSE SmallCap Index was 0.35% lower.
Twelve out of 20 sectors compiled by BSE declined, while eight advanced. S&P BSE Oil & Gas rose the most.
The market breadth was skewed in the favour of the buyers. About 1,667 stocks rose, 799 declined, while 107 remained unchanged on the BSE.
Top Nifty 50 Movers
Sensex, Nifty Open Lower: Opening Bell
India's benchmark stock indices opened lower on Thursday after ending over 1% higher on Wednesday.
At pre-open, the S&P BSE Sensex was down 46 points, or 0.07%, at 65,629.50 while the NSE Nifty 50 was 0.75 point lower at 19,674.70.
"The up move can be extended to 19,800 from current levels," said Vikas Jain, Senior Research Analyst at Reliance Securities.
"Our view is that the short-term market structure is strong, but due to temporary overbought conditions, we may witness positive consolidation activity in the near future," said Shrikant Chouhan, head – equity research, Kotak Securities Ltd.
Equities in Asia traded in narrow ranges and Treasury yields held most gains as investors gauged fresh signs of resilience in the U.S. economy.
Shares in Australia, Japan, Hong Kong, mainland and Korea traded lower.
On Wednesday, the S&P 500 gained 0.2%, helped along by favorable corporate earnings and bets Federal Reserve tightening has reached the peak.
Bajaj Finance Shares Fell To Near Three-Month Low In Pre-Open
Bajaj Finance shares down 3.87% at Rs 6,944.55 apiece in pre-market trade, the lowest level since Aug. 21, 2023.
Source: Bloomberg
Sensex, Nifty Little Changed In Pre-Market Trade
At pre-open, the S&P BSE Sensex was down 46 points, or 0.07%, at 65,629.50 while the NSE Nifty 50 was 0.75 point lower at 19,674.70.
Source: Bloomberg
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 7.23% on Thursday. It closed at 7.22% on Wednesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 4 paise to open at 83.19 against the U.S dollar on Thursday.
Rupee closed at 83.15, highest in nearly four weeks on Wednesday.
Source: Bloomberg
Cyient Signs Letter Of Intent With Thales For Low Carbon Initiative
TCS Promoter Intends To Buyback Shares
Promoter Tata Sons intends to tender 2.96 crore shares in the buyback
Source: Exchange Filing
Fortis Healthcare Gets Allowance From Singapore High Court
Gets allowance from Singapore High Court for winding up of RHT Health Trust
Alert: RHT Health Trust is an associate of the company based out of Singapore
Source: Exchange Filing
Asian Markets Trade Lower
Bajaj Finance Witnesses Substantial Drop in Trading Volume
Bajaj Finance, a non-banking financial company, has experienced a significant decline in trading volume on Nov. 15.
The trading volume on Nov. 15 stood at 7,41,972 units, while the average volume over the past seven days is at 19,23,440 units.
Source: Cogencis
Global Cues
U.S. Dollar Index at 104.4
U.S. 10-year bond yield at 4.50%
Brent crude down 0.85% at $80.49 per barrel
Nymex crude down 0.91% at $75.96 per barrel
GIFT Nifty was down 12 or 0.06% at 19,752.5 as of 8:05 a.m.
Bitcoin was down 0.45% at $37,479.25
Trading Tweaks
Price band revised from 10% to 5%: EMS
Price band revised from 20% to 10%: Bliss GVS Pharma
Ex/record date Interim dividend: Bayer Cropscience, Cigniti Technologies, Container Corp. of India, MSTC, Power Grid, Saksoft, and Sundram Fasteners.
Move into a short-term ASM framework: Centrum Capital.
Insider Trades
Sasken Technologies: Promoter Arti Mody bought 8,952 shares on Nov. 12.
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 11 thousand shares on Nov.13.
Usha Martin: Promoter Nidhi Rajgarhia sold 3000 shares from Nov. 12. to Nov. 13.
Bulk Deals
ASK Automotive: Goldman Sachs India Equity Portfolio bought 23.20 lakh shares (1.17%) at Rs 310.05.
Stocks To Watch: Bajaj Finance, TCS, Dabur, Vedanta, Paytm, Brightcom, IIFL Finance, Satin Creditcare In Focus
Bajaj Finance: The Reserve Bank of India barred the company from lending under its “eCOM” and “Insta EMI Card” products. The regulator said that it would review the supervisory restrictions after the company rectifies the deficiencies to the RBI’s satisfaction.
TCS: The IT major has set Nov. 25 as the record date for its Rs 17,000 crore buyback. The company will buy back up to 4.09 crore shares for Rs 4,150 apiece.
Dabur: The company's two foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as defendants in multiple lawsuits filed in a U.S. court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues.
Satin Creditcare Network: A meeting of the board of directors of the company is scheduled to be held on Nov. 20 to consider the fund-raising proposal by way of the issuance of listed/unlisted, secured/unsecured, and non-convertible debentures on a private placement basis.
IIFL Finance: The NBFC will invest up to Rs 200 crore in arm IIFL Samasta Finance by way of subscription to 7,47,94,315 fully paid-up equity shares of face value of Rs 10 each, at a premium of Rs. 16.74 per share, through rights issue.
Suzlon Energy: Suzlon Group announced the RLMM listing of its S144-3 MW series of wind turbines, which are extendable to 3.15 MW, making them a formidable force in the market. This listing marks an important milestone for the successful commercialization of the product.
One 97 Communications: The company announced a partnership with global travel technology company Amadeus for the next three years. It will integrate Amadeus's expansive travel platform, enhancing travellers' experiences from search to booking and payments.
Vedanta: Unit Malco Energy incorporated a new wholly-owned subsidiary in the name of ‘Vedanta Copper International VCI' in Saudi Arabia for its copper business.
Brightcom Group: The company approved the appointment of Brand & Associates as new statutory auditors effective Nov. 15. It sought a 40-day extension from exchanges for filing half-yearly results due to the resignation of the existing auditor and the subsequent appointment of a new auditor.
RateGain Travel Technologies: The company opened its qualified institution placement issue on Nov. 15. The floor price has been fixed at Rs 676.66 per share.
GIFT Nifty Signals Cautious Open For Benchmarks
Asia stocks traded in a narrow range, and Treasury yields held the most gains as investors gauged fresh signs of resilience in the U.S. economy.
Shares in Australia, Japan, Hong Kong, the mainland and Korea traded lower.
On Wednesday, the S&P 500 gained 0.2%, helped along by favourable corporate earnings and bets that Federal Reserve tightening has reached its peak.
The yield on the 10-year U.S. bond was trading at 4.50%, and Bitcoin was above $37,000. Brent crude was below $81 a barrel, whereas WTI crude was above $75.
At 8:05 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 12 or 0.06% at 19,752.5.
India's benchmark stock indices staged a sharp recovery through late trade to close at a four-week high on Wednesday, led by gains in realty and IT stocks.
The S&P BSE Sensex closed 742 points, or 1.14%, higher at 65,675.93, while the NSE Nifty 50 gained 232 points, or 1.19%, to end at 19,675.45.
Overseas investors turned net buyers of Indian equities on Wednesday after 14 consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 550.2 crore; domestic institutional investors also remained net buyers and bought equities worth Rs 609.8 crore, the NSE data showed.
The Indian rupee strengthened 18 paise to close at 83.15 against the U.S. dollar on Wednesday.
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