Stock Market Today: Nifty, Sensex End Lower After Two Day's Of Muted Sessions; RIL, L&T Decline

NBCC has been appointed as the Project Management Consultant for the completion of 16 projects of Supertech. The tentative construction cost of the projects is approximately Rs 9,445 crore, including a 3% contingency. The PMC fees have been fixed at 8% for the Supertech projects, according to an exchange filing.

Praveg Ltd. has commenced operations of its beach resort at Jalandhar House, Diu, in partnership with Roots Corp, according to an exchange filing.

Rail Vikas Nigam Ltd. has received a Letter of Acceptance for an order worth Rs 111 crore from Southern Railway, according to an exchange filing.

Aster DM has announced that Grant Thornton has concluded its investigation in response to a whistleblower complaint. The company stated that the audit findings from the investigation do not have any impact on its financial statements, according to an exchange filing.

Saurashtra Cement Ltd. has commenced production at its kiln in Gujarat, as per an exchange filing. The company had previously paused production at the kiln on Nov 29 due to higher clinker inventory.

AYE Finance Ltd. plans to raise up to Rs 885 crore through an initial public offering, which will include an offer for sale of up to Rs 565 crore, according to Bloomberg.

Tata Consultancy Services Ltd. has signed a five-year deal with Telenor Denmark for the provision of IT infrastructure services, as per an exchange filing.

Poddar Housing And Development Ltd. has defaulted on the repayment of loan and interest owed to STCI Finance. As a result, STCI Finance has filed a petition before the National Company Law Tribunal in Mumbai, according to an exchange filing.

Adani Green Energy Ltd. has announced that its arm has commissioned a 250 MW solar power project in Rajasthan. With this addition, the company's total operational renewable generation capacity now stands at 11,434 MW, as per an exchange filing.

MTNL Share Price Hits Three-Month High Even As It Fails To Pay Bond Interest

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Jupiter Wagons Jumps 18% In Two Sessions To Hit Four-Month High

Shakti Pumps Share Price Hits Over Two–Week High After Securing Rs 753-Crore Order

Hyundai Motor Share Price Declines for Second Straight Day After Price Hike And BofA Rating

Market breadth was skewed in favour of buyers. Around 1,616 stocks advanced, 1,324 stocks declined, and 104 stocks remained unchanged on BSE.

At pre–open, the NSE Nifty 50 was trading 37.35 points or 0.15% down at 24,604.45, and the BSE Sensex was trading 0.06% or 49.38 points down at 81,476.76.

The yield on the 10-year bond opened flat at 6.72%. It closed at 6.71% on Wednesday, according to Bloomberg.

Rupee opened flat at 84.85 against the US dollar. It closed at 84.84 on Wednesday, according to data on Bloomberg.

• Dealer checks state price hikes in North & East remain weak

• Cement prices in West/ South up Rs 15-20/Rs 20-25 per bag

• Most cement dealers caution on how price hikes should persist

• Price hikes might role back if demand doesn't improve

• Brokerage does expect cement prices to generally move up heron

JP Morgan's Top Cement Bets:

• UltraTech Cement due to consolidation

• ACC due to valuations, better price momentum in South

• Top Picks: NTPC, JSW Energy, Power Grid

• Nov 25 power demand up 4% YoY vs 2.3% decline in Aug- Oct'24

• In eight months of financial year 2025 demand growth at 4% YoY, below brokerage's 7% estimate for FY25

• Renewable auctions in FY25 till date remain upbeat

• Expect data centre's and AI boom to boost power demand

Gopal Snacks Ltd. has reported that there were no casualties or injuries among personnel at their production unit in Gujarat following a fire incident. The company has filed an exchange notice regarding the matter.

• IPM Monthly trends

• IPM recorded 10.7% y-y growth in Nov 2024

• Growth highest in 4 months, driven by low base.

• Price increases (4-5%) drove growth

• Volume growth remains slow due to competition from trade generics and private labels.

• IPCA recorded 19% y-y growth,leading the market.

• Sun Pharma, Alkem, DRRD, Zydus, and Glenmark outperformed

• Cipla, Torrent, and Lupin lagged.

• See green shoots for spreads expansion in 2025

• Inventory de-stocking has started

• Demand outlook to improve in coming months and normalizing imports

• Maintain overweight on JSPL and JSW Steel

• Maintain equalweight on Tata Steel

• Maintain underweight on SAIL

• Retain Buy and raise target price Rs 4,000, which implied a 27% upside

• Conference call takeaways

• Acquisition part of Cos focus on premium, off highway tyres, and exports

• Mix of Off Highway Tyres/exports to rise to 25% each vs 15%/19-20% now

• Double digit market share of Camso in US Europe to aid efforts

• Mgmt expects synergies in channel and clients to lead to further market-share gains

• After 3 years, other segments (Agri, power sports, harvesters) would potentially open up

• Estimates are unchanged; value at 18x Dec-26E PE

Asian Stocks Rise After US Inflation Backs Fed Cut: Markets Wrap

Most US stocks ended higher on Wednesday as tech stocks rose after a benign CPI report, Bloomberg reported.

The S&P 500 and Nasdaq Composite indices ended 1.77% and 0.82% higher, respectively. The Dow Jones Industrial Average ended 0.22% down.

Nifty, Sensex See Another Muted Session As Traders Await Economic Data: Market Wrap