Share Market Highlights 20th November 2023: Sensex falls 139 pts, Nifty closes below 19,700, Divis Lab gains 2%, Adani Ent drags 2.6%

Kirloskar Electric Company informed that the management has withdrawn the lockout at the Company’s unit situated at Nelamangala taluk, Bengaluru, with effect from November 20, 2023, at 06:30 AM and has requested all workmen through labour union to report to work.

The company’s shares surged 3.19% to close at ₹121.25.

Equity benchmark indices Sensex and Nifty stayed on the back foot for the second straight session on Monday as investors offloaded auto, utility and commodity stocks amid fresh foreign fund outflows.

Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.

Bharti Airtel, Wipro, HCL Technologies, Tech Mahindra, Tata Consultancy Services and Maruti were among the gainers.

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The rupee declined by 9 paise to settle at 83.35 against the US dollar on Monday, tracking a negative trend in domestic equities.

At the interbank foreign exchange market, the local unit opened at 83.25 and settled at its lifetime low level of 83.35 against the dollar, registering a fall of 9 paise from its previous close.

On Friday, the rupee settled at 83.26 against the American currency. Earlier, the rupee closed at its lowest level of 83.33 against the dollar on November 13, this year.

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​DC Infotech and Communication​’s board has approved increasing the authorised capital from ₹150 crore to ₹170 crore.

The board has also approved allotment of 20,00,000 equity shares of ₹10 each at issue price of ₹54 each on preferential basis to the persons belonging to the non-promoter categories of persons and ₹30,00,000 Warrants of ₹54 each convertible into 30,00,000 Equity Shares of ₹10/- each and at issue price of ₹54 each on preferential basis to the persons belonging to the Promoter and Promoter Group at the price as determined in accordance with the provision of SEBI regulations.

​Diamines and Chemicals​ has received a letter from Gujarat Pollution Control Board (GPCB) for proposed expansion of synthetic organic chemicals in existing manufacturing unit at Vadodara. The stock rises by 3.44% on the NSE, trading at ₹472.

Focus Lighting and Fixtures Limited has informed the exchange regarding allotment of 8,20,000 equity shares to FLFL Employee Welfare Trust pursuant to Focus Lighting And Fixtures Limited ESOP Plan 2019. Focus stock rises by 1.09% on the NSE, trading at ₹186.15.

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt., has suggested to buy and accumulate Aptech stock for an upside target of ₹280, keeping a stop loss of ₹240.

Lancer Container Lines has executed a share subscription and shareholders’ agreement for the acquisition of 60% equity share capital of Transco Logistix Worldwide Private Limited. The stock trades at ₹85.47 on the BSE, up by 0.07%.

Major gainers:

• Divi’s Lab (2.05%)
• Bharti Airtel (1.45%)
• HCL Tech (1.35%)
• Wipro (1.19%)
• Tech Mahindra (0.94%)

Major losers:

• Adani Enterprises (-2.62%)
• SBI Life (-2.16%)
• M&M (-1.99%)
• Bajaj Finance (-1.83%)
• Bajaj Finserv (-1.56%)

Stocks advanced on BSE at 3 pm on November 20, 2023, were 1,868 against 1,914 stocks that declined; 171 stocks remain unchanged. The total stocks traded were 3,953. The number of stocks that recorded a 52-week high was 401, and those that hit a 52-week low was 32.

Polycab India Limited has informed the exchange regarding allotment of 8,450 securities pursuant to ESOP/ESPS. The stock trades at ₹5,308.60 on the NSE, up by 0.39%.

MMTC reported its standalone net profit for the quarter ended September 2023 at ₹10.67 crore as against ₹1,117.19 core in the same quarter previous year. The stock slides down by 0.87% on the NSE, trading at ₹51.40.

GAIL (India) Limited has won SAP ACE Award- 2023 for the Best Financial Transformation for implementation of Vendor Invoice Management Systems. However, the stock declines by 1.19% on the NSE, trading at ₹124.75.

Stocks that hit 52-week low on the NSE:

• Rajesh Exports (-8.18%)
• Mufin Green Finance (-4.97%)
• ASK Automotive (-3.64%)
• Adani Wilmar (-2.85%)
• IRM Energy (-1.32%)
• Diamines & Chemicals (-1.16%)

Anand Rathi Wealth has appointed Tejal Shah as Head - Human Resource of the Company, with effect from November 20, 2023. The stock jumps by 7.18% on the NSE, trading at ₹2,331.20.

“We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate with everything we announced at Microsoft Ignite, and in continuing to support our customers and partners. We look forward to getting to know Emmett Shear and OAI’s new leadership team and working with them. And we’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team. We look forward to moving quickly to provide them with the resources needed for their success,” Microsoft CEO Satya Nadella tweeted on X.

Yes Bank has appointed Tushar Patankar as Chief Risk Officer (CRO) of the Bank for the period of three years, effective from December 01, 2023.

The stock declines by 3.13% on the NSE, trading at ₹20.15

DSP Mutual Fund announced the launch of DSP Banking & Financial Services Fund (DSP BFSF), an open-ended scheme that offers investors an opportunity to partake in the long term structural opportunity in the banking and financial services space.

The New Fund Offer for DSP BFSF will open for subscription on November 20th, 2023, and will close on December 4th, 2023.

Apart from banks, the sector also encompasses major areas like NBFCs including Housing Finance Companies, Life Insurance, Non-Life Insurance, AMC, Exchanges & Depositories, which have all grown at a faster rate than the nominal GDP of India in the last 15 years. All these combined make up a profit opportunity of over $ 4 Trillion.

DSP BFSF follows a stock-specific approach that favors business fundamentals over market outlook and attempts to have a high active share compared to the benchmark. It also has the flexibility for Global Investments where the Fund Manager can invest in selective fundamentally sound businesses internationally which are not available in India.

Under normal circumstances, the asset allocation of DSP BFSF would be between minimum 80% to maximum 100% in equity and equity related securities of companies in the Banking and Financial services sector, up to 20% in equity and equity related securities of other companies, up to 20% in debt and money market instruments and up to 10% in units issued by REITs and InvITs.

India has the best structural growth prospects in the region. We believe GDP growth is likely to stay robust at 6.3% yoy in 2024. While the external macro backdrop of high for longer rates, persistent dollar strength, lower China growth and greater geopolitical uncertainty, could potentially lead to elevated market volatility in the region, India is relatively less sensitive to these external shocks.

We expect corporate profits in India to grow 15% in 2024 and another 14% in 2025, with growth appearing broad-based across sectors. An improving profits to GDP ratio and stabilization in a decade long EPS downgrade cycle in recent years suggest a turnaround in the earnings cycle. With moderate 6% index gains ytd, and underlying earnings growing 17%, valuations appear less elevated now. MSCI India PE valuations at slightly below 20x are 12% lower than a year ago (23x), 0.4 s.d above 10-year mean and only 4% above our macro-based ‘fair value’ of 19x.

TVS Capital Funds has appointed Ramesh Iyer as a Board Member. As the Vice-Chairman and MD of Mahindra Finance, Iyer’s primary responsibility has been to promote inclusive growth and foster rural prosperity. Since 1994, he has played a crucial role in transforming Mahindra Finance into one of India’s premier rural finance institutions. His extensive experience proves invaluable when overseeing a workforce of more than 30,000 individuals stationed across 1,400 branches nationwide.

Iyer is member of various industry bodies for financial services like FIDC, CII (Financial Services), and Chamber of Commerce.

Commenting on Ramesh Iyer’s appointment, Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds, said, “Ramesh Iyer brings a wealth of experience in financial services providing credit across sectors and promoting the core values of inclusivity within organisations. We are delighted to have him as one of our board members, his strategic acumen will be instrumental in guiding our growth. Financial services is a sector we have a deep presence in and this sector focus has helped us generate attractive alpha for our client partners. Ramesh’s deep insights into the financial services space will further help us deepen our investing in the sector. As we look ahead in our mission of empowering next-gen entrepreneurs, and thereby deepening the pools of rupee capital supporting the country, we look forward to the valuable contributions Ramesh will bring to our Board in this journey.”

SBC Exports Ltd board is to consider increasing authorised share capital of the company and to recommend and approve issue of bonus shares at its meeting on December 5.

SEBI CHAIRPERSON: URGE INVESTORS TO MOVE TOWARDS LONG TERM INVESTING, AWAY FROM F&O WHERE THERE IS POSSIBILITY TO LOSE MONEY ON DAILY BASIS -- Redbox

​Tata Consultancy Services Ltd​’s shares were up by 0.40 per cent after the company signed an ​agreement with the Australian Securities Exchange​ (ASX) to replace its existing cash equities clearing and settlement platform. The deployment of TCS BaNCS for market infrastructure will usher in a next-generation solution to serve the Australian market.

Gujarat Alkalies stock is down by 1.06% on the NSE, trading at ₹718.45 following the appointment of Ram Gianani as its CFO.

Aether Industries has approved allotment of 26,732 Equity Shares of face value of ₹10 each at exercise price of ₹321 each pursuant to ‘Aether Industries Limited Employee Stock Option Scheme 2021’. The stock falls by 2.02% on the NSE, trading at ₹875.80.

Goldman Sachs expects India GDP growth at 6.3% in FY24

Goldman Sachs in its India 2024 Equity outlook said it is overweight on resilient fundamentals and strategic appeal. “India has the best structural growth prospects in the APAC region,” it said.

GS expects corporate profits in India to grow 15% in 2024 and another 14% in 2025 with growth broad based across sectors

DRC Systems India (20%)

Agri-Tech (India) (19.98%)

One Point One Solutions (19.95%)

Talbros Automotive Components (19.28%)

BF Investment (13.20%)

EaseMyTrip has introduced subscription programme for High Net Worth Individuals (HNIs) through its invited based Platinum, Gold, and Silver Cards. The stock declines by 2.07% on the NSE, trading at ₹40.20.

Persistent Systems has launched open-source maintenance service to facilitate keeping an organisation’s open-source software up to date with all patches, bug fixes, and incorporating the latest software releases. The stock inches up by 0.78% on the NSE, trading at ₹6,436.40.

Major gainers on the NSE at 12:

Divi’s Lab (3.31%); Hindalco (1.01%); Wipro (0.95%); HCL Tech (0.79%); LTIMindtree (0.75%)

Major losers: M&M (-2.14%); Bajaj Finance (-1.77%); SBI Life (-1.64%); Adani Enterprises (-1.50%); Bajaj Finserv (-1.23%)

Stocks advanced on BSE at 12 noon on November 20, 2023, were 1,935 against 1,717 stocks that declined; 189 stocks remain unchanged. Total stocks traded were 3,841. The number of stocks that recorded a 52-week high was 368, and those that hit a 52-week low was 25.

The Sensex and Nifty indices remained subdued on Monday due to losses in banking and financial stocks, driven by investor concerns over the central bank’s tightened rules for personal loans. NSE Nifty 50 traded at 19,675.55, and BSE Sensex at 65,581.47 by 12.05 p.m.

Last week, RBI’s directives on increased capital reserves for banks, particularly for personal loans, led to this caution.

Amidst this, IT stocks continued their rise by 0.46%, having surged 5% last week on speculations of the U.S. Fed refraining from rate hikes.

Notably, Tata Investment Corporation saw an 11.96% spike on NSE to ₹4,376.50 after Vaibhav Goyal’s recent appointment as General Manager. Talbros Automotive Components soared by 19.45% following orders worth Rs 580 crore.

Oberoi Realty climbed 4.3% to hit a record high, propelled by plans to develop luxury housing in the National Capital Region.

Among the major stocks that hit their 52-week high on the NSE were DRC Systems India (20%), Agri-Tech (India) (19.98%), One Point One Solutions (19.95%), Talbros Automotive Components (19.28%), and BF Investment (13.20%).

At noon, prominent gainers on the NSE included Divi’s Lab (3.31%), Hindalco (1.01%), Wipro (0.95%), HCL Tech (0.79%), and LTIMindtree (0.75%). Meanwhile, significant decliners were M&M (-2.14%), Bajaj Finance (-1.77%), SBI Life (-1.64%), Adani Enterprises (-1.50%), and Bajaj Finserv (-1.23%).

Meanwhile, at noon trade, BSE saw 1,935 advancing stocks and 1,717 declining, with 189 remaining unchanged. The total stocks traded amounted to 3,841. Within this, 368 stocks marked a 52-week high, while 25 reached a 52-week low.

Blue Dart announced partnership with India Post, introducing automated digital parcel lockers at selected post officer.

Blue Dart Express stock trades at ₹6,905 on the NSE, up by 0.66%.

Wonderla Holidays Limited has appointed Saji K Louiz as Chief Financial Officer of the company w.e.f. November 20, 2023. The stock is up by 2.94% on the NSE, trading at ₹969.25.

Divgi TorqTransfer System has appointed Rupam Parwate as Head-Operational Excellence and Management Systems. The stock trades at ₹1,096 on the BSE, down by 0.18%.

Epigral Ltd has launched its first research and development centre at Ahmedabad, Gujarat. The stock trades at ₹906.60 on the NSE, down by 0.55%.

Glaxo (4.34%); Divi’s Lab (4.03%); Gland Pharma (3.45%); Glenmark (2.38%); Biocon (1.78%)

WealthForce.ai from IntellectAI has been declared the winner in the “Innovative Use of Artificial Intelligence” category at the WealthBriefing MENA Awards 2023. Intellect Design Arena stock trades at ₹687.90 on the NSE, down by 0.25%.

InCred Global Wealth manages USD 1 billion AUM. InCred Global Wealth is an independent Wealth Advisory firm and Multi-Family Office

Bank Nifty opened today’s session at 43,591.50 versus Friday’s close of 43,583.95. It is currently at 43,670, up 0.2 per cent.

The advance/decline ratio stands at 9/3 giving the index a bullish bias. Punjab National Bank, up 1.7 per cent, is the top gainer and IDFC First Bank, down 0.7 per cent, is the top loser.

Major gainers on the BSE at 11:

MOIL (12.32%); Tata Investment (9.69%); Jain Irrigation (9.38%); ITI (8.15%); Gateway (8.06%)

Major losers:

Rajesh Exports (-5.86%); RattanIndia Power (-4.98%); Solar Industries (-4.37%); JP Associates (-4.19%); Finolex (-3.97%)

Aditya Birla Sun Life AMC Limited has collected nearly Rs 200 crore for its Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFO from October 16 to October 30.

Aditya Birla Sun Life US Treasury 1-3 Year Bond ETFs Fund of Funds is suitable for investors with shorter investment horizon and who have a relatively conservative risk profile.

Aditya Birla Sun Life US Treasury 3-10 Year Bond ETFs Fund of Funds is suitable for investors with long term investment horizon and who have a higher risk profile. The benefits of investing in these instruments include locking in multi decade high yields for long-term, adding duration to portfolio and an opportunity to earn capital gains.

As per the current regulatory provisions, Mutual Funds can make overseas investments in Exchange Traded Fund (ETF(s)) subject to a maximum of US $300 million per Mutual Fund, within the overall industry limit of $1 billion.

“Based on our understanding of the RBI definition for consumer credit, we note that (1) LAP (Loan Against Property) and (2) unsecured personal loans are 2 major loan segments whose risk weights stand increased by 25% points.

The RBI seems to earmark the credit card segment for special attention, assigning the highest risk weight of 150%.

Relatively minor segments (in terms of total loan book proportion) whose risk weights also stand increased by 25% points are loan against deposits and loan against shares.

Retail loan segments that are unimpacted are housing loans, auto loans, education loans, gold loans and KCC loans.

Furthermore, as per our understanding, loans explicitly classified as MSME loans would be unimpacted even if they satisfy the RBI definition of retail loans i.e. have ticket size less than Rs 50mn. Also, microfinance loans would be largely unimpacted since most of these loans are disbursed for business purposes. However, any microfinance loan made for consumption purposes would, in our understanding, be impacted.

The aforementioned rise in risk weights for specified loan segments will (1) lead to greater capital requirement for banks depending on the quantum of the said exposures and (2) cause banks to re-assess their growth patterns in the specified loan segments with a potential to pull back growth in these segments, likely on a moderate basis.”

Union Bank of India announced appointment of CA Avinash Vasant Prabhu as the Chief Financial Officer (CFO). The stock rises by 1.06% on the NSE, trading at ₹109.80.

Nifty 50 has begun the week on a weak note. The index is now trading at 19,707, down 0.12 per cent. It has been struggling to get a sustained rise above 19,800 over the last couple of trading days. Intraday charts suggest that a fall to 19,650-19,600 is likely in the coming sessions.

​Shreeji Translogistics Limited (STL)​ has executed Railway Rake Handling & Shifting (H&S) and Transportation services into different locations, namely Vishakhapatnam (Andhra Pradesh), Bhilai (Chhattisgarh), Haridwar (Uttarakhand). The stock trades at ₹69.20 on the BSE, up by 4.04%.

Tata Consultancy Services (TCS) has signed an agreement with Australia’s primary securities exchange, ASX, to provide a next generation clearing and settlement platform to service the Australian market. The stock inches up by 0.79% on the NSE, trading at ₹3,530.05.

Praveg stock inches up by 0.97% on the BSE, trading at ₹612. The company announced opening of its two properties namely Praveg’s Tent City at Ayodhya, Uttar Pradesh, and Beach Resort at Ghoghla Beach, Diu.

Prabhudas Lilladher has retained ‘accumulate’ rating on NMDC with revised TP of ₹176 (earlier ₹147), valuing at 5x EV of Sept 2025E EBITDA.

Kotak Mutual Fund launches Kotak Healthcare Fund, an opportunity to invest in country’s growing healthcare sector.

Kotak Healthcare Fund is an Open-Ended Scheme that will invest in in Pharma, Healthcare and allied sectors. The scheme opens for public subscription on November 20, 2023 and closes on December 4, 2023

The rupee was trading in a narrow range against the US dollar in early trade on Monday, amid a negative trend in domestic equities.

Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and rising crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 83.25 against the dollar and then touched a high of 83.23, and a low of 83.27 against the greenback.

Larsen & Toubro (L&T)‘s Hydrocarbon business (L&T Energy Hydrocarbon – LTEH) has received a Letter of Intent for mega Offshore order (worth ₹10,000 crore -₹15,000 crore) from a client in the Middle East. The stock trades at ₹3,084 on the NSE, down by 0.80%.

Poonawala Fincorp stock falls by 1.20% on the NSE, trading at ₹366.70. It had received an order from the office of the Assistant Commissioner of Central tax imposing a penalty.

Bharti Airtel stock trades at ₹942.75, down by 0.48% on the NSE. The company had received DoT penalty for violation of subscriber verification norms.

Tata Investment Corporation stock jumps 11.96% on the NSE, trading at ₹4,376.50. The company had recently announced appointment of Vaibhav Goyal as its General Manager

Bondada Engineering stock surges by 4.99% on the BSE, trading at ₹442.60. The company has recently received work orders from Dinesh Engineers Ltd.

Jubilant Foodworks informed about the resignation of Ashish Goenka, President & Chief Financial Officer (CFO) of the company. The stock trades at ₹526.30 on the NSE, down by 0.33%.

Major gainers on the NSE at 9:30 am:

Coal India (1.71%); Divi’s Lab (1.39%); Apollo Hospitals (1.36%); HCL Tech (1.03%); NTPC (0.99%)

Major losers:

M&M (-0.68%); Axis Bank (-0.62%); Nestle India (-0.58%); Kotak Bank (-0.55%); BPCL (-0.46%)

Crude oil futures traded higher on Monday morning following the market expectations of oil production cuts by Saudi Arabia and Russia in the coming days. Added to this, China’s central bank kept its loan prime rate unchanged and injected more yuan into the economy. At 9.20 am on Monday, January Brent oil futures were at $81.19, up by 0.72 per cent; and January crude oil futures on WTI (West Texas Intermediate) were at $76.59, up by 0.72 per cent. December crude oil futures were trading at ₹6394 on Multi Commodity Exchange (MCX) in the initial trading hour of Monday morning against the previous close of ₹6346, up by 0.76 per cent; and January futures were trading at ₹6424 as against the previous close of ₹6384, up by 0.63 per cent.

Exhicon Event Media Solutions Limited has signed the Memorandum of Understanding for acquisition of 51% Equity Stake with Global Kokan Festival along with Kokanbhumi Ventures Private Limited.

Crisil Ratings downgrades Vedanta ratings on the longterm bank facilities and debt instruments of the Company to ‘CRISIL AA-’ from ‘CRISIL AA’ And placed these ratings on ‘Rating Watch with Developing Implications’ from ‘Rating Watch with Negative Implications’

Large Trade Hypnos Fund sells 17,50,000 Shares of Jindal Stainless @ Rs 477.25 a share while promoter JSL OVERSEAS Buys 17,50,000 Shares

ZEN Technologies secures a new export order worth $ 5.12 Million (about Rs 42 crore) comprising state-of-the-art simulators, is from a friendly nation

The Indian benchmarks, Sensex and Nifty, started the week with a flat opening, leaning towards weak trade. In early trade, the BSE Sensex dipped by 17.13 points, touching 65,777.60, while the NSE Nifty experienced a minor increase of 0.60 points, reaching 19,732.40. Notable gainers in the Nifty included Hindalco, Apollo Hospitals, NTPC, Divis Labs, and HCL Tech, while declining stocks encompassed Axix Bank, Kotal Bank, Asian Paints, Titan, and SBI Life.

Financial stocks are anticipated to retain prominence, steering market movement owing to their significant weighting in key indices post the recent RBI directive on credit risk weight.

Market analysts foresee a narrow trading range, with most news—positive and negative—already factored in. Stability prevails, supported by global and domestic indicators like inflation and trade data, despite potential risks linked to geopolitical tensions. In Asian markets, early gains were observed, with focus on global and domestic macroeconomic factors.

Market sentiment around the Fed’s policies indicates a strong probability of status quo in December and a higher likelihood of a 25bps cut in May. Robust domestic investor activity counters FPI selling slowdown, aiding market consolidation and maintaining Nifty around 19,700 amid reconsideration of FPI strategies.

Emkay Global Financial’s positive assessment of Q2-FY24 earnings showcases recovery from FY23 margin losses due to reduced commodity prices, signalling Nifty’s resilience with a revised upward forecast for FY24. While individual stock concerns linger, medium-term optimism prevails as near-term worries dissipate.

DreamFolks expands footprint, enters Malaysia in Southeast Asia market expansion. The stock inches up by 0.71% on the NSE, trading at ₹565.80.

L&T Technology Services Ltd’s (LTTS) shares were up by 1.10 per cent after the company announced a collaboration with NVIDIA to introduce a Gen AI and advanced software-defined architecture aimed at changing medical imaging in the field of endoscopy.

The software-defined architecture, jointly developed by LTTS and NVIDIA, is a scalable platform serving as a decision-making tool for the medical sector.

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DERIVATIVE SNAPSHOT

Nifty Nov. cl @19806.5(-23.2)

Prem : +74.7 v/s +64.5

Nifty Nov. OI (-2.97 lac shares)

PCR decreased to 1.02 from 1.16

Option statistics:

Indian VIX: 11.83 v/s 11.65

Addition in OI (Nifty Nov. Contract): 19800 CE +6.33 lakhs, 20500 CE +4.38 lakhs

Reduction in OI (Nifty Nov. Contract): 19300 PE -4.42 lakhs, 19200 PE -3.15 lakhs

Top Longs: BEL (6.5%), PFC (2.9%), EXIDEIND (10.4%)

Top shorts: SBIN (29.1%), IDFCFIRSTB (9.5%), RBLBANK (21.2%)

Top long unwind: IOC (-9.6%), PNB (-2.9%), MANAPPURAM (-7.0%)

Top short covering: SAIL (-5.5%), NMDC (-2.4%), TATASTEEL (-1.2%)

Top 10 rise in volume/rise in price for F&O stock: CANFINHOME, SBILIFE, HDFCAMC, ICICIGI, EXIDEIND, IRCTC, GRANULES, PIDILITIND, GMRINFRA, TVSMOTOR

Top 10 rise in volume/fall in price for F&O stock: SBICARD, SBIN, RBLBANK, ABCAPITAL, PEL, L&TFH, CHOLAFIN, CANBK, IDFCFIRSTB, M&MFIN

INDIA

1)India’s foreign exchange (forex) kitty decreased by $462 million to $590.321 billion for the week ended November 10, data released by the Reserve Bank of India (RBI) showed on Friday, November 17.

2)The Consumer Price Index-based inflation (CPI) stood at 4.87% in October, as compared with 5.02% in September, according to data from the Ministry of Statistics and Programme Implementation. Core Inflation came at 4.25%

3)Food and beverage inflation was steady at 6.24% in October, as compared with 6.3% in September. Core inflation eased to 4.62% from 4.97% a month ago.

4)The wholesale price index (WPI)-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023. WPI Core inflation stood at -1.0%, as compared to -1.2% previously.

5)For October 2023, the merchandise trade deficit (physical goods) widened sharply to $31.46 billion, compared to just $19.37 billion in September 2023. That is a spike in the merchandise trade deficit by 62.42% in just one month. On a sequential basis, the exports were lower by -2.61% at $33.57 billion.

6)Overall combined trade deficit for October 2023 was still higher YoY by 17.63% YoY from $-14.52 billion in October 2022 to $-17.08 billion in October 2023.

7)India’s outward foreign direct investment (FDI) commitments fell by 12.14 per cent to $1.88 billion in October this year compared to over $2.14 billion in September, according to Reserve Bank of India (RBI) data. These were worth around $2.66 billion in the same month last year.

8)Issues of commercial paper fell to nearly a one-year low in October due to rising rates caused by tight liquidity conditions, according to market participants. Commercial paper worth Rs 74,804 crore was issued in October, the lowest since October last year.

9)The government plans to tap the offer-for-sale (OFS) route for disinvestments in listed public sector enterprises during the rest of the fiscal year instead of initiating fresh strategic sales, a government official said.

10)Goldman Sachs raises Indian shares to “overweight” on growth, earnings momentum. Goldman Sachs upgraded Indian shares to “overweight” from “marketweight”, citing strong economic growth prospects, steady domestic mutual fund inflows and a potential supply chain shift from China.

11)The Union government on November 16 slashed windfall tax on crude petroleum to Rs 6,300 per tonne from Rs 9,800. The special additional excise duty (SAED) on diesel was also halved to rupee 1 from Rs 2 per litre, according to the notification.

12)S&P Global expresses confidence in India’s economic trajectory, projecting a robust GDP growth between 6% and 7.1% annually from 2024 to 2026.

13)Deal activity in October declined by 41 per cent to USD 2.156 billion against USD 3.651 billion in September this year, a consultancy firm’s report said on Thursday.

14)RBI’s economic activity index nowcasts GDP growth for Q3 FY24 at 6.3% and the central bank expects the momentum of the change in GDP sequentially to be higher in Q3, with festive demand remaining ebullient.

15)RBI’s data in its monthly bulletin for September showed, outward remittances under the scheme increased by 25.09% to $9.23 bn in the second quarter (02) of 2023-24 (FY24) from $7.32 bn in Q2 of 2022-23 (FY23)

16)RBI issued regulatory measures towards consumer credit and bank credit to Non-Banking Financial Companies (NBFCs) increasing risk weights by an additional 25 percentage points to 125%. Risk weights for credit card receivables will be raised to 125% from 100%

17)Commercial banks will see an increase in risk weights for consumer credit exposure by 25% to 125%, excluding specific categories like housing loans, education loans, vehicle loans, and loans secured by gold and gold jewelry. Risk weights for credit card receivables will be raised to 150% for SCBs from 125%

18)The RBI has introduced new rules for credit information companies (CICs) to enhance transparency and improve grievance redressal for consumers. Key provisions include mandatory disclosure of credit scores, enhanced grievance redressal mechanisms, regular data updates, transparency in data sharing, fair data correction procedures, and unbiased credit scoring models. These rules will empower consumers with better access to their credit information and a more effective mechanism to address discrepancies or errors.

19)Inflows from foreign portfolio investors (FPI) in debt so far in November have risen to a 27-month high, which experts attribute to the impending inclusion of Indian government bonds in a global bond index. According to NSDL data, investment by FPIs in debt as of November 13 was at Rs 9,208 crore, compared to Rs 6,382 crore in the previous month.

WORLD

1)U.S. President Joe Biden signed on Thursday a stopgap spending bill to avert a government shutdown, a day after the Senate passed it, the White House said.

2)US annual inflation rate slowed to 3.2% in October from 3.7% in September, while core consumer price inflation edged down to 4% from 4.1%.

3)US PPI declined by 12% on year in October compared to 2.2% in September, while the core PPI rose by 2.4% on year in October compared to 2.7% in September

4)US Industrial Production declined by 0.7% on year in October, following a revised 0.2% contraction in September. US Manufacturing Production dropped by 1.7% on year in October, following a revised 0.9% contraction in September

5)US initial jobless claims rose by 13,000 to 231,000 on the week ending November 11 compared to 218,000 in the previous week.

6)US export prices fell 4.9% on year in October, following an upwardly revised 4.3% drop in the previous month while import prices decreased to -2% in October from -1.50% in September of 2023.

7)The Labor Department reported that its producer price index — which measures inflation before it hits consumers — dropped 0.5% in October from September, the first decline since May and biggest since April 2020. On a year-over-year basis, producer prices rose 1.3% from October 2022, down from 2.2% in September and the smallest gain since July.

8)The average rate for a 30-year fixed mortgage has fallen for the third consecutive week, reaching 7.44%, the lowest level in eight weeks. This decline to levels not seen since the 7.31% rate comes as a potential boon for homebuyers facing high prices amidst a tight housing supply

9)UK annual inflation eased to 4.6% in October, down from 6.7% in September while core inflation slowed to 5.7%, down from 6.1%

10)UK producer price index fell to 0.6% on year in October, shifting from an upwardly revised 0.2% increase in September.

11)Eurozone economy grew 0.1% annually in the third quarter of 2023, slower from 0.5% growth in the second quarter.

12)Japan’s GDP Growth Rate shrank 0.5% on quarter for Q3 compared to 1.1% in Q2. Japan balance of trade turned to deficit of 662.55 bn yen in October, compared to surplus of 72.1bn in September.

13)Japan economy contracted 2.1% on an annualized basis during the third quarter of 2023, after a downwardly revised 4.5% growth in Q2.

14)Japan’s balance of trade turned to deficit of 662.55 bn yen in October, compared to surplus of 72.1bn in September.

15)The People’s Bank of China (PBOC) launched a total of 1.45 trillion yuan via a one-year medium-term lending facility (MLP) to the banking system and left the interest rate unchanged at 2.50%.

•Fixed Income:

The New 10-Year Benchmark GOI 7.18 2033 traded between 7.19% - 7.30% during this week

Old 10-Year Benchmark GOI 7.26 2033 traded between 7.25% – 7.35% during this week, tracking movement in Crude Oil, Currency, US Treasury Yields and Inflation data.

•Auction Highlights

RBI conducted the Auction for G-sec, SDL and T-Bill for the aggregated amount of INR 30,000 Crore, INR 12,500 Crore and INR 24,000 Crore respectively.

G-sec Cutoff:

7.37% GS 2028 (100.65/7.2088%)

7.18% GS 2033 (99.72/7.2182%)

7.30% GS 2053 (98.38/7.4354%)

SDL Cutoff:

10 Years: GA 7.70%, MH 7.70%

11 Years: MH 7.70%, UP 7.73%

12 Years: UP 7.73%

15 Years: AP 7.72%, HP 7.74%

17 Years: TS 7.73%

19 Years: AP 7.69%

30 Years: JK 7.60%

T-Bill Cutoff:

091 Days: INR 7000 Crore 98.2998/ 6.9374%

182 Days: INR 8000 Crore 96.5814/ 7.0987%

364 Days: INR 9000 Crore 93.3618/ 7.1297%\u0009

•Commodities:

1)Brent Crude Oil: $76.60-$83.97 (Per barrel)

2)WTI Crude Oil: $72.16-$79.77 (Per barrel)

3)Gold: INR 6,049-INR 6,169 24 Carat (1 Gram)

4)Silver: INR 72,400-INR 76,500 (1 KG)

•US Treasury Yield:

1)US 2 Years Treasury: 4.80%-5.08%

2)US 5 Years Treasury: 4.36%-4.72%

3)US 10 Years Treasury: 4.38%-4.69%

•Corporate Bond Highlights:

AAA 5 Years PSU Bond traded between 7.74%-7.76% this week.

AAA 10 Years Private Bond traded between 7.77%-7.79% this week.

•New Issuances:

NIIf Infrastructure Finance Limited

Ratings: AAA by ICRA & CARE

Issue Size: 300 + 600 Cr

Maturity Date: 16/11/2035

Allocated 850 Crs at 8.00%

TATA CAPITAL FIN SERVICES LTD

Ratings: AAA/ Stable by CRISIL & ICRA

Issue Size: 200 +300 Cr

Maturity Date: 27/07/2033

Allocated 500 Crs at 8.25%

CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED

Ratings: AA+/stable by ICRA & Ind Ratings

Issue Size: 200 + 200 Crs

Maturity Date: 21/11/2033

Allocated 200 Crs at 100

LARSEN AND TOUBRO LIMITED

Ratings: AAA/ Stable by CRISIL

Issue Size: 2000 + 0 Crs

Maturity Date: 09/11/2025

Allocated 2000 Crs at 7.66%

GMR GOA INTERNATIONAL AIRPORT LIMITED

Ratings: A/ Stable by CARE

Issue Size: 2475 + 0 Cr

Maturity Date: 27/09/2043

Allocated 2475 Crs at 10.00%

ICICI HOME FINANCE COMPANY LIMITED

Ratings: AAA/stable by CRISIL

Issue Size: 100 + 300 Crs

Maturity Date: 31/07/2025

Allocated 100 Crs at 8.00%

AXIS FINANCE LIMITED

Ratings: AAA/stable by CRISIL & IND Ratings

Issue Size: 50 + 150 Crs

Maturity Date: 17/11/2028

Allocated 200 Crs at 8.10%

SHRIRAM FINANCE LIMITED

Ratings: AA+/stable by CRISIL & IND Ratings

Issue Size: 250 + 500 Crs

Maturity Date: 05/10/2026

Allocated 345 Crs at 8.90%

Jefferies said it recently met with the management teams of seven IT firms. “Our conversations suggest that demand uncertainty persists. Increasing revenue leakage and deeper furloughs in 3Q, suggest near-term growth outlook remains weak. Moreover, CY24 budgets could be set lower posing risks to the consensus estimate of 7.7% growth in FY25. Management commentary inspires confidence on margin stability. With no clear improvement in demand and rich sector valuations, we remain selective. We remain cautious on the sector with Buys only on Infosys and Coforge.”

Sprayking Agro Equipment said that its board has approved raising of funds in its subsidiary Narmadesh Brass Industries through Initial Public offer. “The Company intends to grow by leaps and bounds and this raising of funds in the Subsidiary Company is the strategic move by Sprayking in order to grow and expand the business operations.” Sprayking owns Majority stake in the Narmadesh Brass Industries. IPO of its subsidiary Company will further strengthen the consolidated financials of the Company, it said.

Sprayking Agro stock surges by 4.45% on the BSE, trading at ₹241.95.

Gold prices dipped in early Asian trading on Monday, retracting from a recent two-week high. This decline was influenced by a marginal increase in U.S. Treasury yields, yet the expectation that U.S. rates have plateaued supported the precious metal.

The spot gold declined by 0.2% to $1,975.80 per ounce, following a 2.2% surge last week. U.S. gold futures also slipped by 0.3% to $1,978.50.

Meanwhile, spot silver saw a 0.6% rise to $23.83 per ounce, with platinum holding steady at $892.58. Palladium experienced a slight 0.2% dip, settling at $1,035.77 per ounce.

The Q2-FY24 earnings season closed with a positive undertone, said Emkay Global Financial Research. The margin loss of FY23 is recovering incrementally, aided by lower commodity prices. Nifty earnings forecasts held up during this period, with a two per cent upward revision for FY24.

Oberoi Realty executes an Agreement for Sale with Ireo Residences and others for acquiring land admeasuring approx 14.816 acres at Sector 58, Gurugram, Haryana.

Transaction is valued in the form of event/ time linked monetary consideration of upto Rs 597 crore. Company’s entitlement from the project at full potential estimated upto 2.6 million square feet of FAR

Transaction marks the company’s foray into the NCR region intends to primarily develop a luxury residential group housing project on the said land.

The stock rises by 3.51% on the NSE, trading at ₹1,388.

Jefferies on Consumer Staples: Revenue growth should remain muted, given limited pricing growth. While gross margins should trend well, higher ad-spends and volume focus from companies would cap near-term Ebitda margin upside, in our view.

Jefferies on Honasa Consumer ( Mamaearth): Honasa Consumer has been a notable outlier among digital-first BPC brands in India, from the standpoint of scale, profitability, and capital efficiency. We expect it to deliver a sector-leading revenue growth over the coming years, coupled with improving profitability.

ED orders Tamilnad Mercantile Bank to transfer the 3.31% stake held by MGM Maran in favour of the Director of Enforcement. The ED had attached assets worth Rs 205 crore to MGM Maran and his associates under PMLA in 2016.

Newgen Software board to meet on Nov. 27 to consider and recommend a proposal for the issue of bonus shares

Ardour Investment Holding acquired 1.93% in Adani Power between Sept. 26 and Nov. 16. Emerging market Investment DMCC acquired 0.13 per cent on Sept. 29. Promoters now hold 71.14 per cent of the company.

Talbros Automotive Components has received multi-year orders worth Rs 580 Crores from domestic and overseas Customers across its business divisions, product segments and JVs including Export Orders of Rs 415 crores and multiple EV Orders for Rs 270 crores from leading OEMs.

A plea has been filed in the Supreme Court seeking initiation of a contempt petition against market regulator Securities and Exchange Board of India (SEBI) for not completing its investigation in the Adani Hindenburg matter within the timeline framed by the court. The application also seeks inquiry into allegations by the Organised Crime and Corruption Reporting Project (OCCRP) against the Adani Group.

According to Supreme Court website, the matter is tentatively listed for November 24.

“In Friday’s trading, the Nifty witnessed consolidation as investors opted to secure profits, yet the Nifty Mid-Cap and Small-Cap indices achieved new highs. Technical analysis indicates potential support at Nifty 19657 and hurdles at 19889. Reclaiming 19889 is crucial for a fresh upside. Bank Nifty needs to surpass 44800 for confirmation, but it might underperform. Options data suggests Nifty’s range is 19300-19800, with 19800 as a crucial resistance. Positive catalysts include sluggish WTI crude, rising copper prices, and favorable sentiments on no further Fed rate hikes. Preferred trades include buying Nifty at CMP with targets at 19807/19889 and Bank Nifty in the 43000-43150 zone with targets at 44000/44500. Bullish outlook on PI INDUSTRIES, SIEMENS, ASHOK LEYLAND, MUTHOOTH FINANCE, TATA CONSUMER, and ASIAN PAINTS. The top stock to buy is PI INDUSTRIES, with an entry price of 3727, target of 4500, stop loss at 3301, and a holding period of 0-365 days for a momentum play.” -- Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

The precious metals gained last week on dollar weakness. Gold appreciated 2.3 per cent to end the week at $1,980.9 per ounce, whereas silver gained 6.8 per cent to close at $23.7 an ounce.

Similarly, gold futures on the MCX was up 1.8 per cent and silver futures gained 4.4 per cent and closed the week at ₹60,713 (per 10 gram) and ₹73,140 (per kg) respectively.

Crude oil prices dropped for the fourth week in a row despite a rally on Friday. Brent crude oil futures on the Intercontinental Exchange (ICE) lost 1 per cent to close at $80.6 per barrel. Crude oil futures on the MCX dropped 2.2 per cent to end the week at ₹6,346.

We zoom in on the prospects of CE Info Systems, as also the prospects of two other stocks — Rajesh Exports and Hinduja Global Solutions

Price band revised from 10% to 20%: IFGL Refractories, Neuland Laboratories.

Price band revised from 20% to 10%: AGS Transact Technologies.

Price band revised from 5% to 20%: Jain Irrigation Systems.

Ex/record-date Interim Dividend: Anupam Rasayan India, Aurobindo Pharma, Balrampur Chini, Cochin Shipyard, Dolat Algotech, GMM Pfaudler, Kaveri Seed, Mazagon Dock Shipbuilders.

Ex/Record date Buyback: Atul.

Move into short-term ASM framework: AGS Transact Technologies, Wockhardt.

Move out of short-term ASM framework: Bliss GVS Pharma.

Paisalo Digital: Promoter group Equilibrated Venture Cflow bought 29.80 lakh shares on Nov. 17.

Ion Exchange: Bimal Jain sold 67,813 shares between Nov. 1 and Nov. 8.

DB Realty: Vinod K Goenka HUF sold 26 lakh shares (0.5%) at Rs 210.97 apiece.

Orient Green Power: Mansi Shares and Stock Advisors sold 50.64 lakh shares (0.5%) at Rs 21.95 apiece.

MK Proteins: Sanjay Kumar Tikamchand Bucha bought 6.69 lakh shares (5.35%) at Rs 86.16 apiece.

Paisalo Digital: Equilibrated Venture Cflow bought 29.8 lakh shares (0.66%) at Rs 80.24 apiece, and Antara India Evergreen sold 32.12 lakh shares (0.71%) at Rs 80.25 apiece.

Delhivery: SVF Doorbell (Cayman) sold 1.83 crore shares (2.49%) at Rs 403.51 apiece.

Fiem Industries: SL Corp sold 98,275 shares (0.7%) at Rs 1,907.56 apiece.

Jindal Stainless: JSL Overseas bought 17.5 lakh shares (0.2%) at Rs 477.25 apiece sold by Hypnos fund.

Larsen & Toubro: Qatar’s General Tax Authority has imposed a penalty of Rs 111.31 crore for 2016–2017 and Rs 127.64 crore for 2017–2018. An appeal has been filed against the levy of this penalty, as the company believes it is arbitrary and unjustified.

RITES: RITES emerged as the lowest bidder in two tenders from CFM Mozambique. Out of the two tenders, one is for the supply of 10 diesel electric locomotives with incidental service of Rs 3.7 crore, and the other is for the supply of 300 high-side wagons.

Bajaj Finance: The company stopped sanctioning and disbursing loans under its two lending products, namely, ‘eCOM’ and ‘Insta EMI Card’, until the deficiencies observed by the RBI were rectified to their satisfaction.

Sterling And Wilson: Disputes between Sterling and Wilson International FZE, Dubai and Jinko Solar have been amicably settled.

Dalmia Bharat Sugar: The company informed that there is disruption of operations at Kolhapur and Ninaidevi units in Maharashtra due to farmers’ agitation. Consequentially, there could be a material impact. The company said it is taking all possible steps to restore normalcy.

SBI Cards and Payment Services: The capital adequacy is expected to decline by 400 basis points on account of the RBI’s revised credit risk weights. The bank is well capitalised as of now and well above the regulatory guideline of 15%. It has enough sources and a diversified lender base to manage its impact, and it doesn’t foresee a significant impact on the cost of funds during this fiscal

IndusInd Bank: The RBI has approved the appointment of Arun Khurana as whole-time executive director for a period of three years with effect from Nov. 16.

Remsons Industries: The company will consider and approve the proposal for raising funds by way of the issuance of equity shares or any other eligible securities/warrants convertible.

Aurobindo Pharma: A USFDA inspection at its facility in Telangana from Nov. 13 to 17 closed with zero observations and a classification of ‘No Action Indicated’.

Exide Industries: The company settled the chloride trademark dispute with the UK’s Vertiv Group and India’s Vertiv Energy. VCGL and VEPL shall not use the said ‘CHLORIDE’ mark in India, either directly or indirectly, and shall withdraw all their claims over this mark in favour of Exide.

Kalyan Jewellers: Unit Kalyan Jewellers FZE acquired the remaining 30% stake in Kalyan Jewellers LLC, Oman, on Nov. 16. Kalyan Jewellers LLC, Oman, has become a wholly owned subsidiary of Kalyan Jewellers FZE.

Adani Power: Ardour Investment Holding acquired 1.93% between Sept. 26 and Nov. 16. Emerging market Investment DMCC acquired 0.13% on Sept. 29. Promoters now hold 71.14% of the company.

Elecon Engineering: Elecon Middle East FZCO, Dubai, has incorporated its wholly owned subsidiary, ‘Elecon Radicon Africa’.

Newgen Software: The board on Nov. 27 will consider and recommend a proposal for the issue of bonus shares.

Tamilnad Mercantile Bank: ED orders the bank to transfer the 3.31% stake held by MGM Maran in favour of the Director of Enforcement. The ED had attached assets worth Rs 205 crore to MGM Maran and his associates under PMLA in 2016

Here is what the charts say about the shares of Fortis Healthcare, Gujarat Fluorochemicals and Jubilant FoodWorks

“The RBI’s decision to raise risk weights for personal loans is a positive development, timely following the central bank’s caution about the aggressive lending in the unsecured consumer loans space. Although the overall impact of bad loans in this segment might not be significant in monetary terms, the sheer number of citizens who are attracted into easy credit for non-productive purposes like gadgets is huge. This measure will curb lenders who may have followed lenient practices in loan appraisal, a trend that historically led to adverse outcomes, as evidenced by the credit card and personal loan incidents 2008.”

India Residential Real Estate remained Unstoppable, Remarkably, even though Q2 is a slower season due to monsoons, most developers saw robust sales. Per property consultant Anarock, new launches grew at a notable pace – ~116,200 units were launched in top-seven cities, up 24% YoY and ~120,300 housing units were sold in Q2. Sales grew an impressive 36% annually. The strong demand momentum continued despite the challenging global environment.

Prominent grade A developers such as Godrej Properties, Macrotech Developers and Sobha Realty posted best-ever quarterly sales. Prestige Estates even raised its FY24 sales guidance led by an outstanding performance in H1. Following this, developers are on track to achieve FY24 sales guidance. The driving force behind impressive sales was the resilient consumer demand. Given that FY24 launch pipeline is robust and led by the festival season going ahead, expect sales to surge

Thanks to the recent strong rally, the long-term outlook turned positive for the stock of NTPC (₹251.6). The stock now finds an immediate support at ₹236 and ₹213. A close below the latter will change the short-term outlook negative.

FMCG stocks like ITC, HUL, Tata Consumer and others will remain in focus as the Uttar Pradesh Government imposed ban on selling of Halal Certified products with immediate effect.

The US dollar and the Treasury yields have declined sharply last week. The trigger for the fall came from the Consumer Price Index (CPI) inflation data release in the US on Tuesday. The US Headline CPI rose 3.2 per cent (year-on-year) in October, down from 3.7 per cent in September.

ITI, Syrma SGS, Netweb, Kaynes, Dixon and Optiemus among 27 companies approved for IT hardware PLI scheme

InterGlobe Aviation (Indigo) said it has reached milestone of 2,000 flights per day

COAL INDIA LTD

Dividend ◆-◆ 15.25 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

Current Price ◆–◆ 345 Rs

52 Week High ◆-◆ 359 Rs

52 Week Low ◆-◆ 207.60 Rs

Dividend Yield ◆-◆ 7.01%

Market Cap: ◆-◆ 2,13,107 Cr

1 Year Return ◆-◆ 48.56%

E.I.D.-PARRY (INDIA)

Dividend ◆-◆ 4 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

EPL Ltd

Dividend ◆-◆ 2.15 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

GILLETTE INDIA LTD

Dividend ◆-◆ 50 Rs

Dividend Type ◆-◆ Final

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

GUJARAT PIPAVAV PORT

Dividend ◆-◆ 3.6 Rs

Dividend Type ◆-◆ Final

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

NATIONAL PEROXIDE

Dividend ◆-◆ 1 Rs

Dividend Type ◆-◆ Final

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

Oil and Natural Gas Corporation

Dividend ◆-◆ 5.75 Rs

Dividend Type ◆-◆ Final

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

RMC Switchgears

Dividend ◆-◆ 0.2 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

Senco Gold Ltd

Dividend ◆-◆ 1 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

Current Price ◆–◆ 695 Rs

52 Week High ◆-◆ 782.85 Rs

52 Week Low ◆-◆ 358.45 Rs

Dividend Yield ◆-◆ 0.15%

Market Cap: ◆-◆ 5,450 Cr

1 Year Return ◆-◆ 0.00%

SUN TV NETWORK

Dividend ◆-◆ 5 Rs

Dividend Type ◆-◆ Final

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

Talbros Engineering Ltd

Dividend ◆-◆ 1.5 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

TIDE WATER OIL (INDIA)

Dividend ◆-◆ 20 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 21 Nov 2023

Record Date ◆-◆ 21 Nov 2023

CRISIL LTD

Dividend ◆-◆ 11 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

INGERSOLL-RAND (INDIA)

Dividend ◆-◆ 50 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

IPCA LABORATORIES

Dividend ◆-◆ 2 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

NATIONAL ALUMINIUM CO

Dividend ◆-◆ 1 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

Current Price ◆–◆ 92.75 Rs

52 Week High ◆-◆ 106.35 Rs

52 Week Low ◆-◆ 69.80 Rs

Dividend Yield ◆-◆ 4.81%

Market Cap: ◆-◆ 17,182 Cr

1 Year Return ◆-◆ 23.09%

OIL INDIA LTD

Dividend ◆-◆ 3.5 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

Pearl Global Industries

Dividend ◆-◆ 12.5 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

T D POWER SYSTEMS LTD

Dividend ◆-◆ 0.5 Rs

Dividend Type ◆-◆ Interim

Ex-Div date ◆-◆ 22 Nov 2023

Record Date ◆-◆ 22 Nov 2023

The second-quarter earnings of Quick Service Restaurant (QSR) chains show how slowing consumer demand is impacting operating profitability. While the effect of extended Shravan period, which fell during June-September, may be regarded as a one-off, the tardy same-store-sales growth (SSSG) is a worry. Managements are optimistic on festive season (Q3), and aim to better operating leverage and margins. Here is a lowdown.

RBI intervention, FPI flows, narrowing of inflation differential with key economies have lent a hand

Big Pharma conjures the latest in pharmaceutical innovation. For investors, a westward gaze can be beneficial

GMR Airports said its Total October passenger traffic was up 19% YoY & up 5% MoM at 98.4 lakh

Jio Financial Services said that Sethuraman Kandasamy, Jagannatha Kumar Venkata Gollapalli and Jayashri Rajesh have resigned as Directors of the Company effective from the end of business hours of November 17. The Board of Directors has taken note of the resignations of the aforesaid Directors.

MENON BEARING: CO SAYS CRISIL HAS REAFFIRMED THE CREDIT RATING WHEREIN SHORT TERM RATING HAS BEEN REAFFIRMED AS “CRISIL A2” AND LONG TERM RATING HAS BEEN REAFFIRMED AS “CRISIL BBB+”

Sudarshan Chemical Introduces Sudatherm Cobalt Blue 6421K and Sudatherm Cobalt Green 6451K Globally

Trip. com Group Limited (Pre market) (Sector- Entertainment)

Legend Biotech Corporation (Pre market) (Sector- Healthcare)

Agilent Technologies, Inc (Post market) (Secotor- Technology)

Keysight Technologies Inc (Post market) (Secotor- Technology)

Zoom Video Communications, Inc (Post market) (Secotor- Technology)

CHAMBAL

DELTACORP

HINDCOPPER

INDIACEM

MANAPPURAM

MCX

RBLBANK

ZEEL

*Researchbytes Analyst App *

https://play.google.com/store/apps/details?id=com.intelegain.rb

Birla Corp: Aditya Saraogi, CFO

Q4 Will Be A Strong Year For The Company, Costs Are Coming Down Now: Birla Corporation

https://www.youtube.com/watch?v=l-l4VboDO6E

Blue Star: B Thiagarajan, MD

Consumer Finance-Led Sales Is Close To 50%, Says Blue Star Amid RBI’s Clamp Down On Unsecured Credit

https://www.youtube.com/watch?v=uFd9oqY0ihg

APL Apollo: Deepak Goyal, CFO

APL Apollo: Expansion Plans On Cards? | Deepak Goyal

https://www.youtube.com/watch?v=h-fQoscLbPs

City Union Bank: N Kamakodi, MD & CEO

We Will Expand Digital Lending Process To All Branches By End Of This Year: City Union Bank

https://www.youtube.com/watch?v=rMmI9foyr5M

EMS ENERGY LTD: Ashish Tomar, Founder

Started New Projects In Rajasthan & Uttarakhand: EMS

https://www.youtube.com/watch?v=1Rrzf7hFN8E

Glenmark: VS Mani, ED and Global CFO

Glenmark Pharma Q2 Results Review; Can Company Achieve Margin Guidance? | VS Mani

https://www.youtube.com/watch?v=Va9Bc_fUh8w

HEG: Manish Gulati, CMO & COO

Q2 Capacity Utilisation Was Close To 95%: HEG Limited

https://www.youtube.com/watch?v=8Rl8CxzBesQ

KRBL: Ashish Jain, CFO

Distribution Continues To Remain A Challenge For The Branded Segment: KRBL

https://www.youtube.com/watch?v=RHRBEuwLAi8

Metro Brand: Nissan Joseph, CEO

Demand Remains Strong In The Midst Of Diwali & Marriage Season: Metro Brands

https://www.youtube.com/watch?v=gwuqKFAAOvA

M&M Fin: Vivek Karve, CFO

Mahindra Finance: NBFCs, Rate Cuts And Rural Growth Insights | Vivek Karve

https://www.youtube.com/watch?v=UnJ48WPTfNU

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

The initial public offering of IREDA (Indian Renewable Energy Development Agency), the renewables-based NBFC, is open for subscription during November 21-23. Currently fully owned by the government, post issue government holding in the company will reduce to 75 per cent.

At the upper end of the price band, the total offer is around ₹2,150 crore, which comprises fresh issue of ₹1,290 crore and offer for sale of ₹860 crore. The net proceeds from the fresh issue shall be utilised towards augmenting the company’s capital base to meet future capital requirements and onward lending.

Buzzing stocks: Cipla, L&T, BoB, Opteiemus Infracom, Omaxe, Exide Industries, Advik Capital, Birla Corporation, ZenTechnologies, Taylormade Renewables, Oberoi Realty, Electrosteel Castings, NBCC, Praveg, Integrated Essential, Lupin, MEP Infrastructure, Aurobindo Pharma, and RITES

Good long-term business prospects and reasonable valuation make Tata Tech’s offer worth considering

Long-term investors can buy Motilal Oswal Financial Services now

With the sharp fall in markets and moderation in valuations over the last two months, investors have lifted the ‘pause’ on their monthly SIP contribution to let their investments flow.

The value of SIP accounts discontinued last month fell five per cent to ₹8,242 crore against ₹8,678 crore logged in September. The same in August was ₹8,743 crore, according to data from the Association of Mutual Funds in India.

Mutual funds’ collection through new fund offerings (NFOs) surged nearly four times to ₹22,000 crore in the July-September period this fiscal compared to the preceding quarter as 48 new schemes hit the market.

Going forward, more NFOs can be expected in the coming quarters as several AMCs become operational and offer similar and differentiated products to the equity and debt investors, Gopal Kavalireddi, Vice President of Research at FYERS, said.

Nifty 50 and Sensex have risen well for the third consecutive week. The benchmark indices has breached their key resistances and have closed on a strong note. We had expected the resistances to hold and the indices to see a fresh fall. That bearish view has gone wrong.

Stock markets will be largely driven by global trends in the absence of any major domestic triggers this week, say analysts.

The trading activity of foreign investors, global crude oil prices and rupee-dollar movement will also influence market movement, they said.

“Anticipating a period of consolidation in the absence of clear global cues, the market’s trajectory will likely hinge on the movement of the US bond yields, the dollar index, and crude oil prices, as well as institutional flows.

“The market’s stability may be influenced until the conclusion of state elections, at which point a discernible trend might materialise,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

After sustained selling in the last two and a half months, FPIs bought Indian equities worth ₹1,433 crore thus far in November, mainly due to the decline in US treasury bond yields and crude oil prices.

Foreign Portfolios Investors (FPIs) were net sellers till November 15. However, they reversed the selling trend by infusing money during November 16-17, data with the depositories showed.

The initial public offering (IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over ₹7,300 crore collectively.

The other three companies whose maiden public issues ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India.

The majority of the portfolio management services (PMS) schemes outperformed the Nifty50 in October.

Nearly 63 per cent, or 205 of the 326 PMS schemes, were able to beat the returns generated by the benchmark, data from PMS Bazaar shows. The 326 schemes collectively delivered average returns of -2 per cent, higher than the -2.7 per cent given by the benchmark.

Asian markets began the week slowly amid a shortened trading period, with valuations appearing stretched due to already factored-in aggressive global policy easing for the upcoming year. The Black Friday sales will gauge the vitality of the consumer-led U.S. economy, coinciding with thin markets during the Thanksgiving holiday.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, saw a modest increase of 0.52%, following a 2.8% climb last week that led to a two-month high.

Japanese stocks opened positively on Monday, with the Nikkei 225 index rising by 0.57% or 190.16 points to reach 33,775.36. In contrast, the broader Topix index inched-up by 0.32% or 7.62 points, trading at 2,398.90.

South Korea’s KOSPI index traded with strength, marking a 0.59% increase or 15.09 points at 2,484.94, while Australia’s S&P ASX200 demonstrated a 0.20% rise, gaining 14.20 points to reach 7,063.60.