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-At 3:33 p.m. Dow Jones futures fell 0.2% to 43,904.00, S&P 500 lost 0.3% to 5,951.25, and Nasdaq 100 fell 0.5% to 20,730.00.
Germany: Deutsche Bundesbank President Joachim Nagel will speak at ECB Conference at Frankfrut — 6:30 p.m.
US: S&P Global Flash Manufacturing PMI — 8:15 p.m.
US: S&P Global Flash Services PMI — 8:15 p.m.
US: University of Michigan Revised Consumer Sentiment — 8:30 p.m.
US: University of Michigan Inflation Expectation — 8:30 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Annual Symposium on Building the Financial System of the 21st Century — 4:45 a.m.
The BSE Sensex and NSE Nifty 50 had the best session in over five months.
The Nifty 50 and Sensex jumped the most since early June on Friday.
State Bank of India, Bajaj Finance Ltd., Titan Co. were top leaders in the Nifty 50 index.
Bajaj Auto was the only laggard in the Nifty 50 in index.
The NSE Nifty IT was the best performing sector in Friday's session. The NSE Nifty Media was the worst performing sector.
The NSE Nifty Midcap 150 ended 1.15% higher at 20,412.65.
The NSE Nifty Smallcap 250 ended 0.98% higher at 16,912.30.
National Fertilizers Ltd. will produce Nano Urea at its Nangal plant, according to an exchange filing.
JSW Energy Ltd. has clarified that there is no financial or operational impact on the company following the Securities Exchange Board of India's warning letter issued regarding certain trades executed by a designated person and their immediate relatives, according to an exchange filing.
Bata India Ltd. has appointed Durgesh Singh as chief financial officer, with effective December 1, it said in an exchange filing.
Bank Of America Bearish On Nykaa, Cuts Estimates Amid Slower Margin Growth
Godrej Properties Stock Gets 'Buy' Upgrade As BofA Sees Attractive Risk-Reward
The State Bank of India has partnered with Uber to offer driver loans. The lender is also aiming to provide car loans for fleet partners. The product will be available to both new and existing fleet partners, according to a statement, SBI said in a statement.
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Marksans Pharma Ltd. received the US Food and Drug Administration received final approval for ANDA of Loratadine Tablets USP 10 miligram
Alert: Loratadine Tablets Are Used For Treatment Of Allergic Rhinitis
Source: Exchange Filing
Godrej Industries Ltd. plans to raise up to Rs 1,000 crore through the private placement of Non-Convertible Debentures, according to an exchange filing
Torrent Pharma said in an exchange filing that the US Food and Drug Administration has completed its inspection at the company's manufacturing facility in Pithampur, Madhya Pradesh.
The FDA has issued an Establishment Inspection Report (EIR) with a "Voluntary Action Indicated" classification for the Pithampur plant.
The brokerage has a target price of Rs 675, which implied a 46% upside.
Largest player in India with installed electrode capacity of 98k MT
Strong Balance Sheet with limited debt
FY24-27 expect Sales CAGR of 10%
EBITDA margin to rise to 16% in FY25
EV/EBITDA of 12x is a premium to 10yr avg multiple
Protean eGov Tech Share Price Hits Four-Month Low As NSE Investments Plans To Offload Stake
Onyx Biotec Shares List At Over 10% Discount To IPO Price On NSE SME
Oil future prices steadies around $74 a barrel in Friday's session as traders assessed the situation between Russia and Ukraine. Russia has launches ballistics missiles at Ukraine following the latter's strike with western weapons, Bloomberg reported.
The January future contract of crude oil was trading 0.03% higher at $74.25 a barrel as of 11:21 a.m. The prices rose 2.18% to $74.20 a barrel in Thursday's session.
SJVN Share Price Jumps Following Renewable Energy MoU With Rajasthan Government
Zinka Logistics Chairman Shares Three Investment Areas In Focus Post IPO
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BlackBuck-Owner Zinka Logistics Lists At 2.9% Premium Over Issue Price
SBI Share Price Rises As Jefferies Reiterates It As Top Pick
Market breadth was skewed in favour of buyers. Around 2,135 stocks advanced, 642 stocks declined, and 117 stocks remained largely flat.
At pre–open, the NSE Nifty 50 was 0.27% higher at 23,411.80, and the BSE Sensex was 0.25% higher at 77,349.74.
The yield on the 10-year bond opened flat at 6.87%. It closed at 6.86% on Thursday, according to data on Bloomberg.
The rupee opened flat at 84.49 against the US dollar. It closed at 84.50 on Thursday, according to data on Bloomberg.
Infosys Ltd. faces a penalty and pending tax payment of $3.28 million imposed by the Georgia Department of Labor, US, for the period spanning Q3 2019 to Q1 2024, according to an exchange filing.
NTPC Green IPO: LIC Likely To Invest Further In IPO After Anchor Investment
Gold spot and future prices extended gains to fifth consecutive session as demand for the safe–haven rose on heightening tension between Ukraine and Russia.
Gold's December future contract was trading 0.33% higher at $2,683.80 as of 08:01 a.m. The Bloomberg spot gold was trading 0.60% higher at $2,685.64 an ounce as of 8:11 a.m., according to data on Bloomberg.
PI Industries preferred pick, buy with price target Rs 5,100 (23% upside)
Innovator volumes recovering, pricing under pressure
Crop prices remain weak; Refgas exports to remain challenging
Chinese agro chem exports elevated
PI faces transient demand weakness, new products provide offset
SRF withdrew growth guidance on poor demand visibility.
NFIL to see recovery from Q4
Upgrade to Buy from Sell
TP: 8600 (+14%) compared to Rs 5700 earlier
Headwinds easing: See acceleration in recruitment segment
Better than expected outlook on growth & earnings
Earnings to get better: expect 99acres to breakeven in CY25
Remain bullish on Zomato - expect earnings upside risk
Most Asian currencies were trading on a mixed note against the US dollar as investors assessed the latest US unemployment claims data. The data showed that the number of people filing for jobless benefits declined unexpectedly, indicating a rebound in the labour market.
The Japanese yen was 0.06% higher at 154.45 a dollar as of 7:34 a.m. The Taiwanese dollar was trading 0.03% down at 32.56 against the US unit. The South Korean won was 0.17% higher at 1,399.28.
Maintain buy with a target price Rs 1,030, which implied a 32% upside.
Management meet
Focused on improving deposit growth despite loan to deposit having room to rise
Asset quality holding up even in unsecured
Rate cuts may be gradual, loan mix will help defend margins
No plans of a capital raise: ROCE of 20% in H1 to help capital adequacy
Expect 13% loan CAGR through FY24-27, 16% ROCE through FY26-27
Value at 1.5x PBV
Maintain Buy with a target price raised to Rs 2,150 vs Rs 2,000, which implied a 40.3% upside.
Poised for strong growth post recent rights issue and improved OCF
Sees improved the visibility on launches beyond FY26
Twenty six msf ready for launch in next two years plus 1,878 acres of land bank
Aggressively planning to enter newer cities like Mumbai and Noida
Warrants valuation re-rating on growth by acquiring land and joint development
Asian Stocks Advance As Renewed Trump Trade Powers Wall Street
Share indices on Wall Street ended higher. The Dow Jones Industrial Average ended 1.06% up, while the S&P 500 ended 0.53% higher. Investors shook off the worries over Nvidia Corp's earning outlook.
Jobless claims data showed number of unemployment people filing for benefits in the US fell unexpectedly.
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