Share Market Highlights 24 November 2023: Indices trade flat, Nifty settles below 19,800

Equity benchmark indices Sensex and Nifty closed with modest losses for the second straight session on Friday, following selling in IT stocks amid a lack of fresh buying triggers.

The BSE Sensex declined 47.77 points or 0.07 per cent to settle at 65,970.04. The Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.

Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards.

On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.

Read more here.

The Indian rupee ended at a record closing low on Friday, weighed down by weakness in its Asian peers and dollar demand from foreign banks.

The rupee ended at 83.3675 against the US dollar, lower by 0.03 per cent compared with its close at 83.3425 in the previous session.

Read the full article here.

Fortis Malar Hospitals Limited has entered into a Business Transfer Agreement with MGM Healthcare Private Limited for the sale of its business operations pertaining to Fortis Malar Hospital located in Gandhi Nagar, Adyar, Chennai, as a going concern, on a slump sale basis, to the Purchaser, for a lump sum consideration of approximately ₹45,50,00,000.

The board of Khadim India has approved the issuance of up to 4,08,768 Fully Convertible Equity Share warrants of ₹10 each at an exercise price of ₹365 each to one of the Promoters and an identified Non-Promoter entity by way of preferential issue.

Crompton Greaves Consumer Electricals Limited has announced the launch of Surebreeze Starspin (Launched in 1200 MM sweep size) under the sub-economy induction category.

Standard Capital Markets Limited informed that the company’s board has approved increasing authorised share capital from ₹100 crore to ₹150 crore; and approved bonus issue of equity shares in the ratio of 2:1.

Sensex fell 47.77 pts to close at 65,970.04. Nifty fell 0.04% to close below 19,800.

Zen Technologies has entered into an MoU with the Govt. of Goa for setting up a new R&D and manufacturing facility. The stock trades at ₹762 on the NSE, up by 0.87%.

IL&FS Engineering and Construction Company Limited has initiated arbitration by against Paschimanchal Vidyut Vitran Nigam Limited(PVVNL) to secure its contractual rights and obligations with respect to rural electrification works in the villages of Amroha and Bulandshahr districts in the State of Uttar Pradesh. The arbitration is primarily, inter alia, against levying of Liquidated Damages and arbitrary deduction towards burnt transformers from the final receivables.

Fedbank Financial Services IPO has been subscribed 1.92 times as of 3 pm on November 24, 2023. The QIB portion has been subscribed 2.85 times, NII 1.26 times, retail 1.72 times, and those reserved for employees at 1.22 times. The issue closes today.

Gandhar Oil Refinery (India) IPO has been subscribed 41.38 times as of 2:57 pm on November 24, 2023. The QIB portion has been subscribed 54.77 times, NII 58.23 times, and retail 26.74 times. The issue closes today.

Mamaearth, from the house of Honasa Consumer Limited, has launched its latest integrated marketing campaign for winters featuring actor and Brand Ambassador, Shilpa Shetty Kundra, alongside actress Ahsaas Channa, who has signed a year-long contract with the brand to represent its face category campaigns.

Honasa stock jumps 13.19% on the NSE, trading at ₹479.65.

Major gainers: Cipla (2.37%); Divi’s Lab (2.18%); Adani Enterprises (1.35%); Hindalco (0.93%); JSW Steel (0.92%)

Major losers: Apollo Hospitals (-1.75%); Wipro (-1.65%); HCL Tech (-1.58%); TCS (-1.33%); Britannia (-1.33%)

Stocks advanced on BSE at 3 pm on November 24, 2023, were 1,796 against 1,848 stocks that declined; 144 stocks remain unchanged. Total stocks traded were 3,788. The number of stocks that recorded a 52-week high was 267, and those that hit a 52-week low was 22.

Flair Writing Industries IPO has been subscribed 26.48 times as of 2:48 pm on November 24, 2023. The QIB portion has been subscribed 49.45 times, NII 30.02 times, and retail 11.83 times. The issue closes today.

Tata Technologies IPO has been subscribed 49.98 times as of 2:45 pm on November 24, 2023. The QIB portion has been subscribed 126.86 times, NII 56.87 times, retail 15.49 times, those reserved for employees at 3.40 times, and for shareholder at 27.87 times. The issue closes today.

Greaves Engineering, engineering division of Greaves Cotton Limited (GCL), has unveiled Biofuel Gensets at the 14th Agrovision India 2023 Agri Summit, held in Nagpur between November 24 and 27, 2023.

Greaves Cotton stock rises by 2.56% on the NSE, trading at ₹136.15.

The NSE Nifty was down by 0.09 per cent or 16.95 points at 19,785, while the BSE Sensex was at 65,938, down by 0.12 per cent or 79.28 points at 2pm on Friday. A total of 3,750 stocks were actively traded, 1,863 advanced, while 1,744 declined and 143 remained unchanged. Two hundred and fifty-six stocks hit a 52-week high, while 21 stocks hit a 23-week low.

Ramkrishna Forgings Ltd has taken a step towards carbon neutrality with its investment in renewable energy. The company has partnered with Prozeal Green Energy Private Ltd to install a 7.82 MWp Solar PV Project. Currently, 5.2 MWp solar capacity is operational, with the remaining 2.62 MWp expected to go online soon. The move aligns with the company’s commitment to environmental responsibility and sustainability, marking a step towards reducing its carbon footprint. Ramkrishna Forgings aims to create a more sustainable future through clean energy initiatives.

JSL (2.91%); Hindustan Copper (2.56%); Adani Enterprises (1.74%); NMDC (1.57%)

Bondada Engineering Limited has received work order from Pace Digitek Infra Pvt Ltd., order worth over ₹20 crore. The stock trades at ₹442 on the BSE, down by 1.73%.

In a dynamic, volatile global macroeconomic environment where set paradigms are shifting, India, seen as sector-averse, is likely to attract more investments from global corporations and investors.

Goldman Sachs in its report titled, ‘Asset Management Outlook 2024: Embracing New Realities’ said India has the advantage of resilient growth and strong demographics. “.. We expect more companies to become important manufacturing partners for global corporations diversifying their supply chains in steel, textiles, chemicals, pharmaceuticals and automotives,” the report made available exclusively to businessline, said.

Jay Bharat Maruti informed about the Foundation Stone Laying Ceremony of Kharkhoda plant of the Company located at Maruti Suppliers Park, Sonipat, Haryana. The stock trades at ₹104.90 on the BSE, down by 0.33%.

IndusInd Bank has announced its association with Indraprastha Gas Limited (IGL), to facilitate the acceptance of Digital Rupee, the Central Bank Digital Currency (CBDC) launched by the Reserve Bank of India in 2022. The stock trades at ₹1,484.25 on the NSE, down by 0.12%.

Ramkrishna Forgings had collaborated with Prozeal Green Energy Private Limited (PROZEAL) for the installation of a 7.82 MWp Solar PV Project at Unit 5 and Unit 6&7. The stock trades at ₹756.80 on the NSE, down by 0.54%.

Fedbank Financial Services IPO has been subscribed 1.34 times as of 12:57 pm on November 24, 2023. The QIB portion has been subscribed 1.43 times, NII 0.77 times, retail 1.54 times, and those reserved for employees at 1.06 times. The issue closes today.

BITS Pilani’s technology business incubator, Pilani Innovation and Entrepreneurship Development Society (“PIEDS”), has announced the launch of its start-up program, ‘Womenpreneur for Bharat 1.0,’ in association with the Women Entrepreneurship Platform (WEP), incubated within NITI Aayog, and supported by Aditya Birla Capital Foundation, the CSR arm of Aditya Birla Capital Limited

Gandhar Oil Refinery (India) IPO has been subscribed 23.04 times as of 12:57 pm on November 24, 2023. The QIB portion has been subscribed 5.55 times, NII 44.81 times, and retail 23.38 times. The issue closes tomorrow.

Flair Writing Industries IPO has been subscribed 14.63 times as of 12:54 pmon November 23, 2023. The QIB portion has been subscribed 17.87 times, NII 20.82 times, and retail 10.12 times. The issue closes today.

Tata Technologies IPO has been subscribed 25.61 times as of 12:54 pm on November 24, 2023. The QIB portion has been subscribed 33.26 times, NII 48.23 times, retail 14.09 times, those reserved for employees at 3.04 times, and for shareholder at 25.39 times. The issue closes today.

Shares of Honasa Consumer, parent company of Mamaearth, up 10.5 per cent on Friday after hitting upper circuit on Thursday. The stock has now surged 72% from its post-listing low of Rs 275.

The Steel Ministry plans to introduce ‘Made in India’ labelling across export offerings by March 2024, almost a year after the original deadline .

All the integrated steel players (ISPs), after initial hesitation, are now on board, according to a Ministry document accessed by businessline.

Pilots surrounding the initiative are expected to start from November .

Bajaj Finserv Asset Management has announced the launch of the Bajaj Finserv Balanced Advantage Fund (BAF), an open-ended dynamic asset allocation fund designed for investors seeking exposure to equity and equity-related instruments, including derivatives and fixed-income instruments.

Allcargo Gati Limited (formerly GATI) has launched Surface Transhipment Centre and Distribution Warehouse (STCDW) at Mayasandra, Hobli, on the outskirts of Bengaluru, Karnataka. The stock rises by 2.56% on the NSE, trading at ₹136.20.

ICICI Prudential Life Insurance Company Limited has informed the exchange regarding allotment of 28,925 shares under stock option schemes. The stock trades at ₹559.70 on the NSE, up by 0.67%.

Eurozone composite PMI inched up to 47.1 in Nov’23 from a near 3-year low of 46.5 in Oct’23, but remained in the contraction zone. As the downturn in business activity remains broad-based, the fear of recession has resurfaced in the current quarter. Furthermore, the recently released ECB minutes highlighted that inflation has been moderating in line with expectation and the members noted the possibility of interest rate hike, which remains on table. Separately, Japan’s headline inflation accelerated to 3.3% in Oct’23 (3% in Sep’23) and even the core inflation inched up to 2.9% in Oct’23. Additionally, factory activity contracted for the 6th straight month down to 48.1 in Nov’23 (48.7 in Oct’23) amidst weaker demand.

_*Global indices ended higher. Investors awaited more guidance on US interest rate movement. FTSE inched up with gains in energy stocks and comes in the wake of the interim budget along with measures announced by the government to support growth. Sensex ended flat. However, it is trading flat today, while other Asian indices are trading mixed. -- Wealthmills Securities

Axis Bank hosted an analyst day detailing its various business segments and overall

performance. Management highlighted various initiatives taken and how the bank

has improved over the past four to five years on various parameters: asset quality, NIM, deposit franchise, ROE, etc. It highlighted that it has delivered 18% adjusted ROE over the past five quarters and is confident of maintaining it. While it did not quantify the Tier I ratio impact from the recent RBI guidelines on risk weights, it said the bank was comfortable on capital and would not look to raise equity. Analyst

questions/concerns revolved around loan growth (given muted deposit growth in

the system), the impact on ROE once rate cuts start and guidance on opex growth, among others. We keep our estimates, rating and target price unchanged.

Dilip Buildcon informed that the company has provisionally completed the four laning of NH-363 from Repallewada (Design km 42+000/ Existing Km 288+510) to Telangana/Maharashtra Border (Design Km 94+602/Existing Km 342+000) (Design Length = 52.602 Km) in the State of Telangana, worth ₹1,140.50 crore.

The stock trades at ₹423.30 on the NSE, down by 0.79%.

Indian equities traded range-bound on Friday, primarily influenced by a decline in information technology stocks post a recent surge. By 12:10 p.m., the NSE Nifty 50 gained a marginal 0.05% to reach 19,812.10 points, while the S&P BSE Sensex slightly rose by 0.03% to 66,038.62.

Despite this, both benchmarks are poised for a fourth consecutive weekly gain, largely based on expectations of a peaking interest rate scenario in the U.S. and Europe.

Nifty Pharma saw notable gains, with top performers including Gland Pharma (5.32%), Lupin (2.83%), Glenmark (2.33%), Divi’s Lab (2.18%), and Larus Labs (2.13%).

Several stocks marked a 52-week high, including Onelife Capital Advisors (20%), The New India Assurance Company (17.25%), Compucom Software (14.98%), General Insurance Corporation of India (13.58%), and Honasa Consumer (12.57%).

By noon, BSE witnessed 1,989 advancing stocks against 1,522 declining ones, with 161 stocks unchanged among 3,672 total trades. There were 244 stocks reaching a 52-week high and 18 hitting a 52-week low.

Key gainers on NSE at noon included Cipla (2.79%), Divi’s Lab (1.94%), Hindalco (1.88%), Dr Reddy (1.34%), and JSW Steel (1.10%). Meanwhile, major losers comprised HCL Tech (-1.15%), TCS (-0.93%), Wipro (-0.91%), Apollo Hospitals (-0.89%), and Adani Ports (-0.71%).

Major gainers on the NSE at 12:

Cipla (2.79%); Divi’s Lab (1.94%); Hindalco (1.88%); Dr Reddy (1.34%); JSW Steel (1.10%)

Major losers:

HCL Tech (-1.15%); TCS (-0.93%); Wipro (-0.91%); Apollo Hospitals (-0.89%); Adani Ports (-0.71%)

Stocks advanced on BSE at 12 noon on November 24, 2023, were 1,989 against 1,522 stocks that declined; 161 stocks remain unchanged. Total stocks traded were 3,672. The number of stocks that recorded a 52-week high was 244, and those that hit a 52-week low was 18.

Taylormade Renewables stock rises by 5% on the BSE, trading at ₹815. The company had entered into a framework agreement with an Internationally accredited aggregator for obtaining and transacting carbon credits & water credits for zero liquid discharge systems installed by TRL through which there will be more efficient end use of treated water generated from the ZLD system.

SIS Limited has approved an investment of upto ₹3.5 crore in Entitled Solutions Private Limited by way of subscription to Compulsorily Convertible Debentures (CCDs), for the acquisition of a minimum of 4.73% shareholding.

SIS stock trades at ₹440.50 on the BSE, up by 0.74%.

Bank Nifty opened today’s session at 43,607.35 versus yesterday’s close of 43,577.50. It is now at 43,725, up 0.3 per cent.

The advances/ declines ratio stands at 9/3. HDFC Bank, up 0.6 per cent, is the top gainer, whereas AU Small Finance Bank, down 0.5 per cent, is the top loser.

Nifty private bank is up 0.3 per cent, whereas the Nifty PSU bank index is up 0.2 per cent.

Radico Khaitan Ltd has launched Magic Moments Remix Pink Vodka to meet the rising demand for coloured and flavoured alcoholic beverages. It is positioned in the premium segment and will be launched in UP, Rajasthan, and Assam before expanding nationwide. Magic Moments Vodka achieved a sales milestone of five million cases in FY2023, holding a 60 per cent market share in the vodka category. The new Pink Vodka variant, enriched with natural flavours of black mulberry, elderflower, and raspberry, aligns with the growing trend of coloured vodka.

Nifty 50 (19,800) began today’s session almost flat at 19,809.60 versus Thursday’s close of 19,802. It has stayed flat in the first hour of trade.

The market breadth gives a bearish picture as the advances/ declines ratio of the Nifty 50 stands at 20/30. However, most mid- and small-cap indices are in the green.

Fedbank Financial Services Limited IPO fully subscribed

Total subscription: 1.00 time

QIB portion: 0.56 times

NII portion: 0.64 times

Retail Individual Investors portion: 1.40 times

Employee Reserved portion: 0.89 times

(Source: BSE Cumulative Demand Schedule)

BSE Link: https://www.bseindia.com/markets/publicIssues/CummDemandSchedule.aspx?ID=6338&status=L

Onelife Capital Advisors (20%)

The New India Assurance Company (17.25%)

Compucom Software (14.98%)

General Insurance Corporation of India (13.58%)

Honasa Consumer (12.57%)

Axita Cotton stock rises 2.74% on the NSE, trading at ₹30.05. Its board had recommended the issuance of Bonus shares in the ratio of 1:3 to its shareholders (as on record date] subject to the approval of shareholders.

The Indian rupee traded in a very narrow range early on Friday as traders looked for new cues that could spur some momentum in the local unit.

The rupee was at 83.3575 against the U.S. dollar as of 10:45 a.m. IST, little changed from its close at 83.3475 in the previous session. The rupee was contained in a 83.3450-83.3650 range in the session so far.

Asian currencies edged lower with the Korean won and Thai baht dipping by 0.4%.

The dollar index was steady at 103.7 as global markets were largely muted following the Thanksgiving holiday in the United States.

The rupee is “likely to stay in the same 5-6 paisa range through the day,” a foreign exchange trader at a private bank said.

Major gainers on the BSE at 11 am:

NIACL (16.82%); General Insurance (12.29%); Elecon (10.64%); Edelweiss (9.84%); FCL (7.90%)

Major losers:

DB Realty (-3.84%); Hindustan Petroleum (-2.80%); Paytm (-2.79%); DishTV (-2.55%); Balrampur Chini Mills (-2.26%)

Issue Open - 06-December-23 , Issue Close 18-December-23

Right issue Size: Rs. 49.9 Crs (3.84 Crs Shares)

Stock Price – 20.63 /-

Right issue Price: Rs. 13/-

Payment Terms: 100% at the time of the application

Rights Entitlement Ratio: 1 Rights Equity Shares for every 36 (Effectively 0.03 for every 1 share held).

Last Trade date (Cum Right): 24 November 2023 (Today)

Ex-Right Trading date: 28 November 2023

Record Date: 28 November 2023

Right Entitlement (RE) Trading Period:- 06 December 2023 to 12 December 2023

Last day of Renunciation of Rights Entitlements: 12 December 2023

Date of Allotment (on or about): 22 December 2023

Date of listing (on or about): 29 December 2023

Effective Discount Per share – Rs. 0.21

{CMP-[(no. of Shares * CMP) + (No. of RE * Right issue Price) ]/ No. of Shares incl. RE}

At mid-morning on Friday, Indian stocks remained steady, with IT shares retracting post a recent uptrend. The NSE Nifty 50 edged up by 0.05% to reach 19,811.25 points, while the S&P BSE Sensex saw a marginal decline of 0.01% to settle at 66,022.07.

Despite this, both indices are poised for a fourth consecutive weekly climb, bolstered by expectations of stabilized interest rates in the U.S. and Europe.

Hazoor Multi Projects witnessed a remarkable surge of 9.97% on the BSE, hitting ₹151.70, driven by a significant work order worth ₹1,129.81 crore.

In the Nifty Pharma category, top gainers included Gland Pharma (5.32%), Lupin (2.83%), Glenmark (2.33%), Divi’s Lab (2.18%), and Larus Labs (2.13%).

Gandhar Oil Refinery (India) IPO has been subscribed 18.65 times as of 10:54 am on November 24, 2023. The QIB portion has been subscribed 3.37 times, NII 34.33 times, and retail 20.37 times. The issue closes tomorrow.

Fedbank Financial Services IPO has been subscribed 0.99 times as of 10:51 am on November 24, 2023. The QIB portion has been subscribed 0.56 times, NII 0.61 times, retail 1.38 times, and those reserved for employees at 0.89 times. The issue closes today.

Bank of Baroda has decided to issue, in first tranche, Infrastructure Bonds of upto ₹5,000 crore (Base issue of ₹1000 crore and Green Shoe Option of upto ₹4000 crore) for a tenor between 7 to 10 years.

The stock trades at ₹194.85 on the NSE, up by 0.26%.

Flair Writing Industries IPO has been subscribed 7.53 times as of 10:42 am on November 24, 2023. The QIB portion has been subscribed 1.38 times, NII 13.96 times, and retail 8.30 times. The issue closes today.

Gland Pharma (5.32%)

Lupin (2.83%)

Glenmark (2.33%)

Divi’s Lab (2.18%)

Larus Labs (2.13%)

Tata Technologies IPO has been subscribed 18.12 times as of 10:39 am on November 24, 2023. The QIB portion has been subscribed 12.94 times, NII 38.38 times, retail 12.59 times, those reserved for employees at 2.64 times, and for shareholder at 22.70 times. The issue closes today.

The rupee depreciated 2 paise and fell to its all-time low of 83.36 against the US dollar in the morning session on Friday, tracking a negative trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 83.33 against the dollar. It touched a low of 83.36 in initial deals, registering a fall of 2 paise over its previous close.

On Thursday, the rupee settled at 83.34 against the American currency.

Lupin Ltd.’s shares were up by 2.07 per cent after the company secured tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Canagliflozin Tablets. The tablets, available in 100 mg and 300 mg, serve as a generic equivalent of Janssen Pharmaceuticals, Inc. ‘s Invokana Tablets.

Gland Pharma has received USFDA’s Establishment Inspection Report (EIR) following the closure of inspection at the Company’s Pashamylaram Facility at Hyderabad.

Gland Pharma stock rises by 5.02% on the NSE, trading at ₹1,793.45.

The board of S I Capital & Financial Services has approved and allotted 7,500 Non-Convertible Debentures (NCD) of face value of ₹1,000 each on private placement basis.

Suprajit Engineering has informed about outright purchase of industrial property with land measuring 1,75,000 sq.ft along with buildings measuring 70,000 sq.ft located at Jigani Industrial Area. The stock rises by 1.43% on the NSE, trading at ₹378.70.

Cyient DLM is in receipt of an award under category ‘Best Performer – Electronic Hardware Exports Tier II & III Region (Exports upto ₹2000 Crore) by STPI Karnataka IT Exports Award for the year 2022-23. The stock rises by 1.34% on the NSE, trading at ₹657.

Apar Industries stock declines by 1.35% on the NSE, trading at ₹5,606.15 following the launch of ₹1,000 crore QIP.

Lupin stock rises by 2.01% on the NSE, trading at ₹1,222.25 after receiving multiple approvals from the USFDA.

Persistent Systems has been selected for inclusion in the MSCI India Index, S&P BSE 100 and S&P BSE SENSEX Next 50 indices. The stock trades at ₹6,405.35 on the NSE, up by 0.42%.

Bank of Baroda is aiming to increase the number of active CBDC users to 10 lakh by the end of the current financial year from 2.5 lakh users at present, Executive Director Joydeep Dutta Roy said on the sidelines of FIBAC 2023, organised jointly by FICCI and the Indian Banks’ Association (IBA).

Hazoor Multi Projects stock surges by 9.97% on the BSE, trading at ₹151.70, following the receipt of work order worth ₹1,129.81 crore.

JSW Steel stock inches up by 0.17% on the NSE, trading at ₹776.85 following the completion of investment of ₹750 crore in JSW Paints Pvt Ltd.

Prestige Estate Projects stock declines by 1.63% on the NSE, trading at ₹901.85 following the launch of residential project “Prestige Glenbrook” in Bangalore.

RailTel Corporation of India Ltd. has received a work order from Gujarat Informatics Limited under flagship program called “Video Integration and State Wide Advance Security-VISWAS”- Phase-II. The estimated revenue for 5 years is ₹52.87 crore. The stock trades at ₹290.40 on the NSE, down by 0.60%,

Major gainers on the NSE at 9:30 am:

Divi’s Lab (2.05%); Cipla (1.77%); Dr Reddy (1.55%); M&M (0.62%); NTPC (0.59%)

Major losers:

HCL Tech (-0.47%); Hero Motocorp (-0.38%); BPCL (-0.36%); TCS (-0.34%); Titan(-0.28%)

Bhageria Industries has incorporated a wholly-owned subsidiary in Kingdom Bahrain by name of Bhageria Industries Holding Company.

“The dominant trend in the market this year is the huge outperformance of the mid and small caps. While Nifty is up only 8.82% YTD, Nifty midcap index and Nifty Smallcap index are up 33.38% and 41.66% YTD. It is important to understand that Nifty is depressed by the poor performance of banks which have the largest weightage in Nifty. The Nifty Bank index is almost flat this year with measly growth of 0.87%.

Banks are underperforming despite very good results because they are over-owned and sustained FII selling is weighing on bank stocks. Mid and smallcaps are under-owned and retail exuberance is largely driving these stocks. There is no valuation comfort in the broader market but valuations are fair in large caps.

Therefore, the next leg of the rally, driven by institutional money - both foreign and domestic- will be driven by large caps.”

Lacklustre moves continue, with 83.3-83.26 becoming a sticky region. We will look for slippage below 83.26, to spot loss in strength, calling for consolidation inside 83.19 - 83.02 again, but the bias appears to be moderately up.

Nifty weekly contract has highest open interest at 19800 for Calls and 19800 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19800 for Puts. Highest new OI addition was seen at 19800 for Calls and 19800 for Puts in weekly and at 20300 for Calls and 19800 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 5.73%, increased future index shorts by 1.27% and decrease in index options by 25.63% in Call longs, 17.40% decrease in Call short, 28.51% decrease in Put longs and 28.63% decrease in Put shorts.

Our stance yesterday was to move up the downside marker to 19790 which is where dips were arrested. Though the turn higher thereof was not exciting enough, we are motivated enough to persist with the prevailing direction and the 19960-20100 objectives, but with 19790/750 region continuing to be watched out for.

Crude oil futures traded higher on Friday morning following the speculations over the further production cuts by the oil producing nations in the coming days. The ministerial meeting of OPEC (Organisation of the Petroleum Exporting Countries) and its allies, known as OPEC+, is likely to come out with a decision in this regard in its proposed meeting on November 30. At 9.19 am on Friday, January Brent oil futures were at $81.41, down by 0.01 per cent; and January crude oil futures on WTI (West Texas Intermediate) were at $76.47, up by 0.10 per cent. December crude oil futures were trading at ₹6385 on Multi Commodity Exchange (MCX) in the initial trading hour of Friday morning against the previous close of ₹6374, up by 0.17 per cent; and January futures were trading at ₹6433 as against the previous close of ₹6418, up by 0.23 per cent.

Chris Wood of Jefferies

Changes to Asia ex-Japan long-only portfolio

Investment in Bajaj Fin removed

Allocated 4% to JSW Energy

Investment in Zomato increased by 1 percentage point

Changes to India long-only portfolio

Investments in JSW Energy, AU Small Fin & L&T

increased by 1 percentage point

Investments in Bajaj Fin ONGC & RIL reduced by 1 percentage point

Mahesh Nandurkar of Jefferies says

We had raised cash tactically in our model portfolio in early Sep, which we are now deploying as the key macro concerns of higher US yields, rising oil prices and near-term state election results have subsided

Conviction on capex cycle theme continues unabated with specific focus on housing, power sector among other industrial sectors

Add Coal India, Honasa, Eicher, NTPC, HDFC Bank & IPRU Life at cost of cash, Marico, Maruti, PGRD& NBFC

Recent survey indicate a rising preference toward online grocery shopping is underway

Nevertheless, think TAM remains sufficiently high for offline, offline & quick delivery to co-exist

Co’s profitability keeps us excited about biz & stk

Argue sharp price correction should be an opportunity to BUY

a)as there is no impact to est.

b)think Import Alert probability is low

c)even on Import Alert, exemptions/albuterol alternate site could minimise impact to to <5% of FY26E EPS

AlphaWise survey points to higher gains for competition on order frequency vs. Dominos, even as Dominos continues to dominate most parameters vs. peers

Structural transition to eating out or eating outside home food continues

AlphaWise survey on quick delivery highlights

a) large TAM cutting across multiple categories

b) strong growth potential with room to take share from alternate channels

c) Blinkit’s leadership position

Deposit growth normalisation journey; eight more qtrs to go

RBI regulations do not warrant a capital raise

Sticky cost ratios in near term; tech investments to continue

Citi portfolio performance in line

CLSA

‘GPS’ strategy on track; emphasis on partnerships

Bharat banking a key growth lever; Deposits a focus area too

Bullish on digital offerings; Continued investments in tech and analytics

Jefferies

Reiterated that initiatives to improve deposits are paying off

Sees ltd impact from RBI’s cautious stance

Asset quality is stable & ROE of 18% can be sustained

HSBC

Aims to maintain 18% RoE in medium term

Improvement in through-the-cycle NIMs & fees; benign credit costs allow AXSB to invest in distribution/technology

Shrinking of AXSB’s ROA gap to peers should drive valuation re-rating

Indian equities opened higher, eyeing a fourth consecutive weekly climb amid speculations of peaking interest rates in the U.S. and Europe. In early trading, the BSE Sensex rose by 30.93 points to 66,048.74, while the NSE Nifty saw a gain of 17.90 points at 19,819.90.

Cipla, Divis Labs, Dr Reddy’s, Grasim, and NTPC led the gainers within the Nifty stocks, whereas TCS, BPCL, Bharti Airtel, Kotak Bank, and Bajaj Auto faced declines.

Asian markets were subdued, influenced by a retreat in Chinese stocks following a surge driven by optimism for the property sector’s support. Foreign institutional investors broke a four-session selling streak by purchasing Indian shares worth Rs 256 crore, while domestic institutional investors acquired shares worth Rs 457 crore.

Amid global economic concerns, markets brace for a cautious opening. Avdhut Bagkar from StoxBox anticipates a stable start amidst varied Asian trading, accentuated by the absence of US cues due to Thanksgiving and a reserved outlook for Indian benchmarks.

Sriram Iyer, Senior Research Analyst at Reliance Securities:Brent futures fell for a second day on Thursday in light trade due to the US Thanksgiving holiday as concerns over demand continue amid rising US inventories.

Domestic crude futures ended flat on Thursday.

The surprise delay of the OPEC+ meeting a day earlier clouds expectations the group will support additional production cuts.

From an intraday perspective, international crude oil prices have started weaker and could witness lackluster trade this early Friday morning in Asian trading as a thanksgiving holiday in the U.S could continue to keep traders and investors away from the markets. Domestic gas futures gained on Thursday; NYMEX was shut on account of a thanksgiving holiday in the U.S.

However, ample inventories are expected to meet strong gas demand despite colder weather forecasts for next week.

From an intraday perspective, NYMEX has started with gains this early Friday morning in Asian trading but could witness lackluster trade as a thanksgiving holiday in the U.S could continue to keep traders and investors away from the markets.

However, long-term forecasts see a warm start to December and could keep upside capped.

Shrikant Chouhan – Head Equity Research, Kotak Securities

Benchmark indices witnessed dull activity on Thursday, with Nifty closing 9 points lower while Sensex falling 5 points. Among sectors, some buying was seen in realty stocks, while pharma and healthcare indices fell by more than 1 per cent. Technically, the market witnessed intraday profit booking at higher levels after a promising start.

Although the short-term structure of the market is positive, Nifty has made a double top at 19875. It needs to surpass 19875 levels otherwise it will invite weakness in the short term.

Expects the market to open on a flat note on account of long holiday in the domestic equity bourses (Monday is close), following the Thanksgiving holiday yesterday in US and half day in the US market today. Among the global markets, the European market ended at a 2-month high yesterday and Europe 600 Index traded above its 200-day moving average level after announcing a mixed bag of Eurozone October PMI data. Japan Index surged 1% due to a fall in October core inflation. Oil price declined to below $82/bbl due to reduced geo-political tension in the Middle-East region as Israel-Hamas war cease-fire will begin from today’s Morning. Gift Nifty is trading flat to negative. Positive factors in the domestic market were that the FIIs turned net buyers yesterday, fall in oil price, US 10-Year bond yield fell to 3-month low, Nasdaq Composite surged to 22-month high and European market yesterday closed on a 2-month high. Oil – Brent Crude declined 1% to below $82/bbl. The OPEC+ meeting that was pushed back by several days to Nov. 30 will now be held online, the group said. Gold – Gold steadied below the key level of $2,000 an ounce, as investors weighed the direction of US interest rates and the dollar weakened. --Vikas Jain, Senior Research Analyst at Reliance Securities

“Gold and silver experienced a marginal uptick in a low-volume session, attributed to the Thanksgiving holiday in the United States. This increase in precious metals followed disappointing U.S. durable goods and core durable goods orders data, hinting at a potential pause in interest rates by the U.S. Federal Reserve in upcoming policy meetings. The safe-haven appeal of gold and silver strengthened further in response to lacklustre U.S. economic data, coinciding with corrections in the dollar index and bond yields, which also contributed to supporting precious metal prices. The U.S. manufacturing PMI data is scheduled for release later today and could provide additional guidance for the precious metals market. Anticipate continued volatility in today’s session for both gold and silver. -- Rahul Kalantri, VP Commodities, Mehta Equities Ltd

The global outlook is unchanged despite weaker readings in trade, consumer confidence, and business activity. Still-elevated inflation and interest rates are acting as headwinds to economic growth around the globe. On the Global front, the US market was shut for trading on Thursday owing to the Thanksgiving holiday. However, European markets rose marginally even as the ECB’s October meeting minutes showed a more concerned central bank regarding growth. On the commodity front, Oil continued its slide on news that OPEC+ will hold its delayed meeting online rather than in person. In contrast, Gold prices remained consistent in the early Asian session today due to a lack of fresh economic data from the United States. While the Asian stocks are trading in the mix this morning despite signs that China is taking measures to alleviate its property sector woes, the Indian markets look set to open on a cautious Friday without overnight cues from Wall Street. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. -- Avdhut Bagkar Technical and Derivatives Analyst, StoxBox.

Ex-Dividend 28 November 2023 (Tuesday)

Last date for Cum-Dividend Today

Talbros Automotive Components Ltd.

Dividend Per Share Rs.0.2

Previous day Closing Price – Rs. 313.2

Veeram Securities Ltd

Dividend Per Share Rs.0.05

Previous day Closing Price – Rs. 8.82

The government is considering a mechanism to enforce and verify stock declaration of sugar by mills, stockists and wholesalers to ensure sufficient availability through the year in coordination with the States amid expectations for lower production, though this will be more than consumption.

In September this year, an Order of the Food Ministry asked sugar mills to furnish details of the quantity of sugar sold in each month “in order to have complete data of stocks with sugar traders, dealers, wholesalers, big retail chains and processors to ensure sufficient availability at reasonable prices”

IL&FS Tamil Nadu Power Company Limited (ITPCL) is a subsidiary of IL&FS Energy Development Company (IEDCL) Limited, an IL&FS Group company.

IL&FS group is looking to exit from this asset by divesting its complete shareholding in ITPCL - held via equity stake of 92.42 % owned by IEDCL and IL&FS and FCCDs of INR 240 Crore owned by IEDCL

As a part of IL&FS resolution framework, ITPCL has recently restructured its outstanding debt with lenders approval and is in process of filing NCLAT application for conversion from Amber to Green Category company.

The company also completed interim distribution of Rs 2,150 crore to senior secured creditors on September 30. This disbursal reduced its outstanding debt by over Rs 1,900 crores.

ITPCL was incorporated to set up an integrated 3,180 MW thermal power plant. Currently it operates 1,200 MW thermal power plant with two units of 600 MW each based at Cuddalore, Tamil Nadu (50 Km from Pondicherry)

The company has executed a long-term Power Purchase Agreement (PPA) for Unit 1 with Tamil Nadu Generation and Distribution Co. Ltd (TANGEDCO) for 15 years

ITPCL also has a license to mine coal block in Upau, South Kalimantan, Indonesia, covering 5,908 hectares and is constructing a captive port, adjacent to the ITPCL power plant.

Ex/record date Interim dividend: BMW Industries, Ddev Plastiks Industries, ESAB India, Goldiam International, Manappuram Finance, Natco Pharma, Power Finance Corporation, Uniparts India.

Ex/record date Bonus issue: Avantel

Ex/record date Buyback: Gujarat Narmada Valley fetilizers & Chemicals, Tata Consultancy Services.

Move into a short-term ASM framework: Prataap Snacks.

Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 1.93 lakh equity shares on Nov. 20.

Usha Martin: Promoter group Nidhi Rajgarhia sold 8,000 equity shares on Nov. 21.

D B Realty: Promoter group Shravan Kumar Bali sold 81,060 equity shares between Nov. 20 and 21.Promoter Vinod Goenka HUF sold 2.7 lakh equity shares on Nov. 21.

Ultramarine and Pigments: The promoter group sold 2,976 equity shares between Nov. 22 and 23.

Home First Finance: Smallcap World Fund and Fidelity Global Investment Fund Asia Pacific Equity Fund bought over a 3.25% stake in Home First Finance Company India Ltd. for over 249 crore. True North Fund V LLP,Orange Clove Investments B.V., Aether Mauritius Ltd., True North Fund V LLP, Orange Clove Investments BV, and Aether Mauritius Ltd. sold over a 9.8% stake in Home First Finance Company India.

D B Realty: Authum Investment & Infrastructure bought 27 lakh shares (0.53%) at 198.90 apiece, while Neelkamal Tower Construction LLP sold 73 lakh shares (1.45%) at 199.05 apiece.

Lupin: The pharma major has received approval from the U.S. FDA for Bromfenac Ophthalmic Solution, 0.07%, and tentative approval from the U.S. FDA for Canagliflozin Tablets.

LTIMindtree: The global technology consulting and digital solutions company, launched the Quantum-Safe Virtual Private Network (VPN) link in London in collaboration with Quantum Xchange and Fortinet.

Indian Railway Catering and Tourism Corporation: The company’s e-ticket booking and cancellation were temporarily affected today from 11:15 a.m. to 1:52 p.m. due to technical reasons, and the same has been resolved.

Granules: The company received a communication from the GST authorities directing the payment of a tax liability of Rs 43.43 lakh for the tax period July 2017 to March 2021.

Radico Khaitan: The company announced the launch of Magic Moments Remix Pink Vodka to cater to the growing demand for the coloured and flavoured beverage alcohol category.

Bharat Electronics: NSE and BSE imposed a fine of Rs 1,82,900 each on the company for noncompliance with regulations with respect to the composition of the board of directors due to the insufficient number of independent directors.

Karnataka Bank: The bank tied up with Bajaj Allianz Life Insurance Company Limited to distribute life insurance products.

JSW Steel: The steel manufacturer completes the last tranche of its Rs 750 crore investment in JSW Paints, and the company now holds a 12.84% stake in JSW Paints.

Siemens: The company received a GST demand and penalty notice worth Rs 23.7 crore from Belapur’s CGST and Central Excise Commissionerate.

NMDC: The company has set the iron ore price at 5,400 per tonne w.e.f Nov. 23 and the fines price at 4,660 per tonne w.e.f November 23.

Indian Hotels: The company has made an investment of Rs 55 crore in Genness Hospitality Private Ltd. and 35 crore in Qurio Hospitality Private Ltd. by way of subscription to rights issues.

Prestige Estates: The company launched a residential project called “Prestige Glenbrook” in Bangalore, comprising 285 apartments across two high-rise towers with a developable area of 0.7 million sq ft and a revenue potential of Rs 550 crore.

Apar Industries: The company opens QIP for raising up to Rs 1000 crore at a floor price of Rs 5,540.33 per share.

Castrol India: The company entered into a tripartite agreement with KFin Technologies Ltd. and Link Intime India Pvt.

Samvardhana Motherson International: The National Company Law Tribunal gave the nod for the scheme of amalgamation between Motherson Consultancies Service Ltd., Motherson Invenzen Xlab Pvt., Samvardhana Motherson Polymers Ltd., and MS Global India Automotive Pvt. with Samvardhana Motherson International Ltd.

Bharat Heavy Electricals: NSE and BSE imposed a fine of Rs 5,42,800 each for non-compliance with the SEBI regulation.

Vishnu Chemicals: The company incorporated Vishnu International Trading FZE, a wholly owned subsidiary in Dubai, UAE.

Anup Engineering: The National Company Law Tribunal gave the nod for scheme of amalgamation between Anup Heavy Engineering Ltd. and The Anup Engineering Ltd.

Clean Science and Technology: The company made an investment of Rs 60 crore in Clean Fino-Chem Ltd., a wholly owned subsidiary of the company, by way of the right issue.

JM Financial: The company received a warning letter from SEBI for a merchant banker rule violation.

JSW Steel: Completes entire strategic investment of Rs 750 cr in JSW Paints

Key economic data scheduled for release include German Final GDP q/q, German Ifo Business Climate from the Euro Zone, and Flash Manufacturing PMI, Flash Services PMI from the U.S.

Gold prices edged higher, supported by a weaker U.S. dollar as confidence grew in the markets that the Federal Reserve has concluded its interest rate hikes. Although data indicated that the number of Americans filing new claims for unemployment benefits fell more than expected last week, the overall view is that the labor market is slowing amid higher interest rates. The recent Fed minutes reinforced a cautious approach, stating that the central bank would proceed “carefully,” and that “all participants judged it appropriate to maintain” the current rate setting.

Nifty closed with flat gains for second straight day due to no overnight cues from the US markets (US markets holiday on 23 Nov) and no fresh cues domestically post results season updates. Bank nifty continues to be volatile post RBI retrictions on unsecured credit. Markets now are driven by stock specific news and global factors. Today’s opening trade could be no different and can open on a flat note again. Global factors like Israel-Hamas truce deal and how it pans out, OPEC meeting on further oil production cuts for the next year are the two main factors which will drive markets. State election results’ opinion polls and actual results which shall start reporting from next week can give further direction to markets. These are more important as the general elections 2024 comes closer.

Import of paper and paperboard continues unabated. After a 25 per cent jump in FY23 in volume terms, paper imports have further risen by 43 per cent in the first half of FY24, according to DGCI&S data.

The surge in imports is mainly due to a 257 per cent growth in import of paper and paperboard from the ASEAN region at zero import duty under a free trade agreement.

In H1 FY24, import of paper and paperboard increased to 9.59 lakh tonnes from 6.72 lakh tonnes in H1 FY23. Imports from ASEAN grew from 81,000 tonnes in H1 FY23 to 2.88 lakh tonnes in H1 FY24.

Natural gas futures (December contract) on the Multi Commodity Exchange (MCX) has seen a sharp fall in prices since the beginning of November. The contract fell off the resistance at ₹320 and on Wednesday, it closed at ₹252.9.

Flush with cash from the stepped-up demand for homes, real estate developers are using the liquidity to buy more land, for business development, and, in some cases, reward shareholders.

According to data compiled by Nuvama Institutional Equities, the top 16 listed realty companies had operating cash flows close to ₹19,000 crore in the first half of FY24. Of this Godrej Properties and Prestige Estates Projects accounted for slightly over 40 per cent — Godrej raised almost the entire amount from debt, while Prestige Estates’ flows were distributed between operating cash profit, debt, and flows from joint ventures and subsidiaries.

Bengaluru-based hospital chain Narayana Health, which has announced its plan to foray into the health insurance space, anticipates acquiring the necessary licenses from the Insurance Regulatory and Development Authority of India (IRDAI) either in this calendar year or possibly early next year.

Initially focusing on Bengaluru and Mysuru for 1-3 years, the company aims to address the substantial customer demand in the health insurance sector while emphasising its expertise in creating valuable and customer-centric products, Viren Prasad Shetty, Executive Vice Chairman, Narayana Health, told businessline.

L&T Finance, one of the leading non-banking financial companies in the country, has signed a financing pact with ADB for $125 million to support financing in rural and peri-urban areas of India, particularly for women borrowers.

The funding comprises a loan of up to USD 125 million from ADB and an agreement to syndicate an additional $125 million in co-financing from other development partners. At least 40 percent of the proceeds are allocated to women borrowers, while the rest will support farmers, micro, small, and medium-sized enterprises (MSMEs), as well as loans to purchase new two-wheeled vehicles.

The ₹500-crore IPO of Gandhar Refinery, a leading manufacturer of white oils in the country, which will close on November 24, includes ₹302 crore of fresh issue and ₹198 crore of offer for sale.

The company manufactures a wide range of oils from automotive lubricants to specialty oils used in healthcare, cosmetics and other applications. Gandhar operates three plants of which two are located in India (one each in Silvassa and Taloja) and one in Sharjah. The company exports to over 100 countries and accounts for over 53 per cent of the overall revenue. Gandhar’s clientele includes large multinationals such as Procter & Gamble, Unilever and their Indian counterparts such as Marico, Dabur, Patanjali, Emami, Bajaj Consumer and Amrutanjan to name a few.

Star Health and Allied Insurance company commenced its operations in 2006 and is India’s first standalone health insurance provider. The company offers health, personal accident and both domestic and overseas travel insurance products. The company has one of the largest health insurance networks in India comprising more than 14,200 hospitals.

Net earned premium (NEP) grew 14.7 per cent y-o-y to ₹3,206 crore in Q2-FY24, led by double-digit growth in retail health insurance. The combined ratio improved 130bps y-o-y to 99.2 per cent.

Capital structure key to multiple erosion Kotak Mahindra Bank’s stock price dropped 4 per cent in the past three years, over which its 1-year forward core P/B has de-rated from 4.8x to 2.7x despite core RoE recorded in FY23 being 80bps higher than the 13.4 per cent reported in FY20.

Core RoA improved from 1.7 per cent in FY20 to 2.3 per cent in FY23, as leverage dropped from 7.7x to 6.1x. We noted in our June-22 IC, “...an increasing concern among investors about sub-par ROEs as it is clear that dilutions alone cannot deliver compounding”. We also noted at that point that core RoE of 18 per cent remains very possible, with core leverage at 8x and sustainable core RoA of 2.1-2.3 per cent

JSW Steel has completed an investment of ₹750 crore in the Group company JSW Paints as promised in July, 2021.

Following the investment, JSW Steel owns 2,94,82,565 equity shares in JSW Paints, representing 12.84 per cent of the issued and paid-up equity capital of JSW Paints.

The Securities and Exchange Board of India (SEBI) has expressed concerns on bunching up of initial public offerings (IPOs) this week and has asked investment bankers to be wary of the stress it could put on the infrastructure for intermediaries, particularly IPO registrars, said two people familiar with the matter.

The regulator had issued a similar alert over bunching up of public share sales in March 2021 and had asked intermediaries to ensure there were no system glitches while processing applications, and to stagger the offerings as much as possible.

Brent crude futures rose in early Asian trade on Friday, reversing losses in the previous session as traders speculated on whether OPEC+ would come to an agreement on further production cuts.

Brent crude futures gained 29 cents, or 0.4%, to $81.71 at 7.33 a.m., after settling down 0.7% in the previous session.

U.S. West Texas Intermediate crude slid 38 cents, or 0.5%, to $76.72, from its Wednesday close. There was no settlement for WTI on Thursday as it was a U.S. public holiday. - Reuters

Gold prices edged higher on Friday and were on track for their second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve is done with its interest rate hikes.

Spot gold was up 0.1% at $1,993.96 per ounce, as of 0123 GMT. Bullion has risen 0.7% so far this week.

U.S. gold futures were also up 0.1% at $1,994.70.

Spot silver gained 0.1% to $23.69 per ounce, platinum was flat at $915.43. Palladium rose 0.1% to $1,047.28 per ounce.

BALRAMPUR

HPCL

HINDCOPPER

IBULHSGFIN

INDIACEM

MANAPPURAM

MCX

RBLBANK

ZEEL

H World Group Limited (Pre market) (Sector- Hotel)

U.S. Markets @ Early Close at 23.30 pm

14:30 EURO German IFO Business Climate (Expected: 87.5 versus Previous: 86.9)

15:30 EURO ECB President Lagarde Speaks

20:15 U.S. Flash Manufacturing PMI (Expected: 49.9 versus Previous: 50.0)

The NSE has added Balrampur Chini Mills, and Hindustan Petroleum Corporation to its F&O ban list for November 24, while retaining Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX India, RBL Bank and Zee Entertainment Enterprises. BHEL, and NMDC removed from the said list.

CMMHOSP

General

EASTWEST

General

PNBHOUSING

General

STANCAP

Bonus issue;Stock Split

WARDINMOBI

General

AMRUTANJAN

Interim Dividend - Rs. - 1.0000

PGHL

Final Dividend - Rs. - 50.0000

PREMCO

Interim Dividend - Rs. - 3.0000

SHAILY

Stock Split From Rs.10/- to Rs.2/-

24-Nov-23

AVANTEL

Bonus issue 2:1

BMW

Interim Dividend - Rs. - 0.2200

CAREERP

Interim Dividend - Rs. - 1.0000

DDEVPLASTIK

Interim Dividend - Rs. - 0.5000

ECOBOARE.G.M.

EMSLIMITED

Interim Dividend - Rs. - 1.0000

ESABINDIA

Interim Dividend - Rs. - 32.0000

GNFC

Buy Back of Shares

GOLDIAM

Interim Dividend - Rs. - 1.2000

GPTINFRA

Interim Dividend - Rs. - 1.0000

INDAG

Interim Dividend - Rs. - 0.9000

ISCITRUST

Income Distribution (InvIT)

LOKESHMACH

E.G.M.

MANAPPURAM

Interim Dividend - Rs. - 0.8500

MORGANITE

Interim Dividend - Rs. - 28.0000

NATCOPHARM

Interim Dividend - Rs. - 1.2500

NICCOPAR

Interim Dividend - Rs. - 0.3000

PFC

Interim Dividend - Rs. - 4.5000

RAVALSUGAR

Stock Split From Rs.50/- to Rs.10/-RIDDHICORP

Interim Dividend - Rs. - 0.4900

SHINDL

Interim Dividend - Rs. - 0.2500

TCS

Buy Back of Shares

UNIPARTS

Interim Dividend - Rs. - 8.0000

XTGLOBAL

Interim Dividend - Rs. - 0.0500

GIFT Nifty -15 pts (19861) from last trade 19876 ,

Nikkei +312 pts ,

Hangseng -139 pts ,

Now @6.55am .

US Mkt Clsd , Bovespa +540 pts , Ftse +14 pts , Dax +36 pts , Cac +17 pts , Crude @ $76.27 brl (-0.83), Brent @ $81.28 brl (-0.68) , Gold @ 1994.50 (+1.70), Silver $23.745 (+0.05), Euro @ $1.0904, JPY @ $149.59, INR @ 83.305

*Researchbytes Analyst App *

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

Fino Payments: Rishi Gupta, MD & CEO

Have Taken Action Against Employees Involved In Misappropriation Of Funds: Fino Payments Bank

https://www.youtube.com/watch?v=45iBtgofmBQ

Genesys Int: Sajid Malik, Chairman & MD

Will Invest Upwards Of Around ?200 Crore In 3D Digital Mapping Project: Genesys International

https://www.youtube.com/watch?v=Ihbl6k89ShI

Genus Power: Jitendra Kumar Agrwal, MD

Maintaining Revenue Guidance Of Rs 1,200-1,300 Cr In FY24: Genus Power

https://www.youtube.com/watch?v=hwq_GI14GfU

Honasa Consumer: Varun Alagh, Chairman

Priority For The Company Is To Look At Consumer White-Spaces Organically: Honasa Consumer

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

Honasa Consumer: Ramanpreet Sohi, Chief Financial Officer

Honasa Consumer Q2 Results; PAT Up 2x ToY On A Low Base

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

HSBC InvestDir: Herald Van Der Linde, Head- Asia Equity Strategy

Reasonable To Assume That There Will Be An Immediate Recession In The U.S.: HSBC

https://www.youtube.com/watch?v=55bgB-Ct8Fc

Rishabh Instrum: Narendra Goliya, Chairman & Managing Director

Will Announce An Acquisition Of Approximately ?100 Cr In FY24: Rishabh Instruments

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

Texmaco Rail: Indrajit Mookerjee, ED VC

Texmaco Rail Board Meet On Nov 24 For Issue Price

https://www.youtube.com/watch?v=rfwLSY7FtIE

Venkys: Prasanna Pedgaonkar, General Manager-Poultry

Venky’s: Eye On Demand & Pricing Strategy

https://www.youtube.com/watch?v=DV-XDiyVGt8

Bajaj Auto: Rajiv Bajaj, MD

Bajaj Auto’s Rajiv Bajaj On Are CNG Motorcycle Soon?

https://www.youtube.com/watch?v=gGnrtmm8bt4

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

Turnover : (NSE + BSE)

Cash Volume: 60299.26 + 5184.56 Total : 65483.82

F&O Volume: 384194.8 + 639425.46 Total : 1023620.26

Provisional Cash Rs. In Crs.

FII/FPI: NET BUY: +255.53

(7348.72 - 7093.19)

DII: NET BUY: +457.39

(6234.47 - 5777.08)

The initial public offering of Federal Bank’s subsidiary, Fedbank Financial Services, will also close today for public subscription. The issue was subscribed 90 per cent at the end of Day 2 on Thursday. The IPO received bids for 5.05 crore shares, against the 5.59 crore shares on offer. The public issue comes at price band of Rs 133-140 a share..

The Rs 1,092-crore issue consists of a fresh issue of 4.29 crore shares aggregating to Rs 600.77 crore, and an offer-for-sale (OFS) of 3.52 crore shares to the tune of Rs 492.26 crore.

Tata Technologies was the most sought after issues among the IPOs that are currently on. The ₹3,043-crore IPO was subscribed 14.86 times and today is the final day to subscribe. Tata Technologies is the first company to hit the capital market in 20 years from Tata Group after TCS. The company has fixed the price band as ₹475-500 . The entire issue is an offer-for-sale and the market lot is 30 shares. Tata Technologies has reserved 20.28 lakh shares for its employees and 60.85 lakh shares for Tata Motors shareholders.

Buzzing Stocks: L&T Finance Holdings, LTIMindtree, Clean Science, JSW Steel, Greenlam Ind, Indian Hotels, Taylormade Renewables, Prestige Estates, Hazoor Multi, Axita Cotton

Today is the last day to subscribe into the initial public offering of Flair Writing Industries. The Rs 593-crore IPO, which comes with a price band of Rs 288-304 a share and a market lot of 49 shares, was subscribed 6.12 times so far. The issue received bids for 8.82 crore equity shares as against 1.44 crore shares on the offer, as per data available on the exchanges.

Stocks that cater to agrochemical space are slowly gaining traction, according to market analysts. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. This is where the agrochemicals industry comes into the picture. Despite a tough H1, the industry is expected to continue its growth with the market size projected to grow from $7.90 billion in 2023 to $12.58 billion by 2028.

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Praj Industries’ stock has been blocked by a resistance at ₹600 since mid-September. But on Thursday, it broke out of this barrier and opened the room for further rally. In particularly, we expect the stock to appreciate on Friday. Although there could be a minor intraday dip to ₹608.

Shares across Asia exhibited varied movements, predominantly trending higher amidst the decline in crude oil prices. Japan’s benchmarks surged at the outset, making strides after a national holiday. The Nikkei 225 index saw a rise of 0.97% or 323.37 points, reaching 33,775.20, while the broader TOPIX also marked an ascent of 0.74% or 17.71 points, totalling 2,395.90. Conversely, South Korea’s KOSPI experienced a marginal decline of 0.13% or 3.37 points, trading at 2,511.59. Hong Kong’s Hang Seng index underwent a decrease of 0.78% or 139.09 points, hovering at 17,771.75, whereas Australia’s S&P ASX200 recorded an increase of 0.40% or 28.10 points, reaching 7,057.30.

Attention of investors is drawn toward China’s property market, particularly following supportive measures that boosted developer stocks earlier in the week.

The ongoing decline in oil prices persists due to reports indicating that the OPEC+ meeting will now be conducted online. This delay, coupled with discord among members regarding quotas, has raised uncertainties regarding the likelihood of additional production cuts.