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SBI Cards Expects Valuation Of Rs 53,000-60,000 Crore In IPO
Once the Nifty index witnesses a decisive break above 12,150, one can expect a rally to the levels of 12,400 to 12,600 to happen in the next couple of weeks. That’s according to Manav Chopra, head of research, Indiabulls Ventures.
However, the investor should place his support level at 11,950, he said in an interview to BloombergQuint.
Around 1.08 crore shares traded hands in two bunched trades on Bombay Stock Exchange. Buyers and sellers were not known immediately.
Shares of the New Delhi-headquartered firm pared gains and traded 1.7 percent higher to Rs 61.90 each. The stock rose as much as 4.6 percent earlier in the day.
Source: Bloomberg
Around 23.9 lakh shares traded hands in a bunched trade on National Stock Exchange. Buyers and sellers were not known immediately.
Shares of the state-owned transmission firm rose 0.7 percent to Rs 195.75 each.
Source: Bloomberg
Indian equity benchmarks traded higher in the afternoon session even as auto stocks—Tata Motors Ltd., Maruti Suzuki Ltd. emerged among the top gainers.
The S&P BSE Sensex rose 0.15 percent to 40,876.50 and the NSE Nifty 50 rose 0.21 percent to 12,063.25 The broader markets represented by the NSE Nifty 500 index rose 0.22 percent.
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The stock has declined 26 percent in the past 12 months compared with a 15 percent gain in the Sensex,
Shares of the software exporter rose as much as 1.4 percent to Rs 1,123 each.
The New Delhi-based firm fixed the record date for bonus share issue at Dec. 7, according to an exchange filing.
The stock traded 15 times its 20-day average for this time of the day, Bloomberg data showed.
Shares of Housing Development Finance Corporation rose as much as 2.1 percent to Rs 2,352.
Brokerage firm Morgan Stanley increased its price target to Rs 2,900 from Rs 2,600. That was the highest price target among the analysts tracked by Bloomberg.
Here’s what the analyst had to say about the company:
Shares of Ashok Leyland rose nearly 3 percent to Rs 83.05.
The company bagged an order for 1750 buses from Tamil Nadu State Transport Undertakings, according to its media statement on the exchanges.
The stock traded at 11 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian equity benchmarks gained to trade near record highs.
The S&P BSE Sensex rose 0.32 percent to 40,949.20 and the NSE Nifty 50 rose 0.34 percent to 12,080. The broader markets represented by the NSE Nifty 500 index rose 0.37 percent.
Nifty’s 12,100 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Nov. 28, rose 22.64 percent to Rs 45.50. Over 4.81 lakh shares were added to the open interest which stood at over 33.52 lakh shares.
Shares of Prestige Estate Projects rose as much as 14.9 percent to Rs 339.80.
The company signed an agreement with Marriott International to open six new hotels across India, representing nearly 1,000 rooms. All hotels are expected to open between 2021-2025, according to its media statement.
Trading volume was three times its 20-day average, Bloomberg data showed. Of the shares traded, 54 percent were at the ask price and 37 percent were at the bid.
Shares of ICICI Bank fluctuated between gains and losses to trade 0.2 percent lower at Rs 509.65.
Brokerage and research firm Morgan Stanley expects the shares of the Mumbai-based lender to touch Rs 775. That’s the highest price target so far among the analysts tracked by Bloomberg.
Here’s what Morgan Stanley had to say:
Shares of Yes Bank halted a two-day fall and rose as much as 9.3 percent, the most in nearly a month, to Rs 69.
The Mumbai-based lender plans to consider raising funds on Nov. 29. Bank approved as accredited entity by Green Climate Fund to help mobilise Climate Finance in India.
Trading volume was more than six times its 20-day average, Bloomberg data showed. Of the shares traded, 50 percent were at the ask price and 44 percent were at the bid.
Indian equity benchmarks opened higher, resuming gains after a one-day blip.
The S&P BSE Sensex rose 0.48 percent to 41,014 and the NSE Nifty 50 rose 12,087.85. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
The market breadth was tilted in favour of buyers. About 945 stocks advanced and 483 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.4 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 0.6 percent.
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.39 percent to 40,980 and the NSE Nifty 50 rose 0.17 percent to 12,056.
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