Stock Market| Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 29 November 2023.

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  • November 29, 2023 16:18

    Stocks in news: UltraTech Cement Limited

    UltraTech Cement Limited has acquired a 0.54 mtpa cement grinding assets of Burnpur Cement Limited, located at Patratu in Jharkhand at a consideration of ₹169.79 crore.

  • November 29, 2023 16:17

    Market news: Rupee rises 2 paise to settle at 83.32 against US dollar

    The rupee sustained its gaining momentum for the second straight session and settled 2 paise higher at 83.32 (provisional) against the US dollar on Wednesday boosted by robust buying in equity markets and inflow of foreign funds.

  • November 29, 2023 15:35

    Stock Market Live Updates: SPIC Halts operations for Ammonia Plant maintenance, stock dips 0.14%

    Southern Petrochemicals Industries Corporation is shutting down its plants from today to address the Ammonia Plant maintenance. “We expect to line up production by December 2, 2023,” company said in a regulatory filing. The stock trades at ₹69.85 on the NSE, down by 0.14%.

  • November 29, 2023 15:32

    Stock Market Today: Geojit Financial Services Limited informed that Rahul Roy Chowdhury has been appointed as the CEO - Private Wealth Services.

  • November 29, 2023 15:30

    Share Market Today: Medplus subsidiary secures orders from Drugs and Control Authority, stock drops 1.31%

    Medplus Health Services Limited has informed that one of its subsidiary has received an orders from Drugs and Control Authority. The Medplus stock trades at ₹788.80 on the NSE, down by 1.31%.

  • November 29, 2023 15:28

    Stock Market Today: Ramco Systems has incorporated a Wholly Owned Subsidiary in South Korea. The stock is up by 1.72% on the NSE, trading at ₹280.90.

  • November 29, 2023 15:16

    Share Market Today: Man Infraconstruction to raise ₹550 crore funds, stock inches up 0.21%

    Man Infraconstruction’s board has approved raising of funds through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into 1 Equity Share of the face value of ₹2 each to certain non-promoter investors on preferential basis at issue price of ₹155 (including premium of ₹153 each, aggregating upto maximum amount over ₹550 crore. 

    The stock trades at ₹193 on the NSE, up by 0.21%.

  • November 29, 2023 15:09

    Share Market Live Updates: Major gainers and losers on NSE at 3 pm

    Major gainers:

    • Hero Motocorp (3.48%)
    • Axis Bank (3.37%)
    • M&M (3.31%)
    • Wipro (2.38%)
    • LTIMindtree (2%)

    Major losers:

    • ONGC (-0.93%)
    • Nestle India (-0.65%)
    • Adani Enterprises (-0.64%)
    • Divi’s Lab (-0.62%)
    • Eicher Motors (-0.58%)
  • November 29, 2023 15:07

    Stock Market Live Updates: 1,934 stocks advance, 1,745 decline on BSE at 3 pm

    Stocks advanced on BSE at 3 pm on November 29, 2023, were 1,934 against 1,745 stocks that declined; 142 stocks remain unchanged. Total stocks traded were 3,821. The number of stocks that recorded a 52-week high was 310, and those that hit a 52-week low was 28.

  • November 29, 2023 15:02

    Stock Market Today: Stove Kraft unveils plans for new products, stock dips 0.99%

    Stove Kraft informed about the recent conclusion of the Income Tax Department’s search at its office premises and manufacturing plants. It said in its regulatory filing, “the company is getting ready to introduce a line of fresh, cutting-edge products that are designed to meet the changing needs of contemporary homes.”

    The stock trades at ₹465.40 on the NSE, down by 0.99%.

  • November 29, 2023 14:59

    Share Market Live Updates: ICICI Prudential places a big block of 39 lakh shares for sale at ₹552.

  • November 29, 2023 14:57

    Stock market Live Updates: Government receives about Rs 100 crore from Concor as dividend tranche.

  • November 29, 2023 14:56

    Stock Market Today: Standard Chartered reveals $543 billion climate investment potential

    Standard Chartered’s latest Sustainable Banking Report 2023 reveals USD543 billion of retail investor capital could be mobilised towards climate investments in India by 2030. The research – based on investor interest from a survey of 1,800 respondents in 10 growth markets across Asia, Africa and the Middle East – identifies a global potential of USD3.4 trillion for climate investing, highlighting the power of individuals to combat climate change.

  • November 29, 2023 14:46

    Share Market Live Updates: Indian stock market to be volatile amid general election: Societe Generale

    India’s upcoming general election will bring volatility to its stock market at a time when the economic growth outlook is moderating, Societe Generale SA strategists wrote, downgrading the nation’s equities to neutral from overweight. 

    The South Asian market will see a “pause in outperformance” until the polls are over, strategists including Frank Benzimra and Rajat Agarwal wrote in a Nov. 29 note. - Bloomberg

  • November 29, 2023 14:38

    Stock Market Live Updates: Jubilant FoodWorks stock surges 3.51% to ₹563.80

    Jubilant FoodWorks stock rises by 3.51% on the NSE, trading at ₹563.80. Its wholly-owned subsidiary, Jubilant Foodworks Netherlands B.V. (JFN), had proposed acquisition of additional stake in DP Eurasia.

  • November 29, 2023 14:34

    Share Market Today: Deloitte and Ramco Systems forge partnership for payroll excellence

    Deloitte Touche Tohmatsu India LLP has entered a strategic partnership with Ramco Systems Limited, a global payroll technology provider. This partnership leverages Ramco’s payroll platform in conjunction with Deloitte’s expert advisory and managed services. The duo said they will deliver ‘an all-encompassing payroll solution’ that ensures operation services, compliance, seamless user experience, and coverage spanning over 150 countries, all accessible through a single, unified payroll platform.

  • November 29, 2023 14:29

    Stock Market Today: Adani Power hits 52-week high at ₹470.90, sees marginal pullback

    After hitting a new 52-week high of Rs 470.90, shares of Adani Power are down marginally by 0.83%, trading at 442.10. The script reports a spurt in volume by more than 3.18 times. It touched 52-week high of Rs 464.30 yesterday also with a spurt in volume by more than 4.88 times.

  • November 29, 2023 14:23

    Mutual Fund Live Updates: WhiteOak Capital Mutual Fund unveils new Large & Mid Cap Fund

    WhiteOak Capital Mutual Fund has announced the launch of new fund offer (NFO) - WhiteOak Capital Large & Mid Cap Fund. The NFO will be open from December 1 to 15.

  • November 29, 2023 14:22

    Stock Market Live Updates: Here are top losers of Nifty Realty stocks

    Top losers of Nifty Realty stocks:

    • Phoenix Mills (-3.29%)
    • Sobha (-2.20%)
    • Lodha (-2.01%)
    • Swan Energy (-1.44%)
  • November 29, 2023 14:16

    IPO Watch: DOMS Industries secures SEBI nod for ₹1,200 crore IPO

    DOMS Industries, a leading holistic creative products player in the stationery and art products market, has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering. 

    The Company’s initial public offering aggregating up to ₹1,200 crore which comprises a fresh issue aggregating up to Rs 350 crore and an offer for sale aggregating up to ₹850 crore. The offer for sale comprises of equity shares aggregating up to ₹ 800 crore by corporate promoter, F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A., equity shares of up to ₹25 crore by Sanjay Mansukhlal Rajani and equity shares worth ₹25 crore by Ketan Mansukhlal Rajani. 

    The funds raised through the fresh issue are proposed to be utilized for the part funding of the cost of establishing a new manufacturing facility to expand the company’s production capabilities for a wide range of writing instruments, water colour pens, markers and highlighters as well as for general corporate purposes.

    It has 11 manufacturing facilities are located in Umbergaon, Gujarat and in Bari Brahma, Jammu and Kashmir. Its domestic distribution network for general trade comprises of over 100 super-stockists, and 3,750 distributors along with a dedicated sales team of over 450 personnel covering more than 115,000 retail touch points across 3,500 cities and towns. They also cater to consumers through modern trade and e-commerce.

  • November 29, 2023 14:14

    Share Market Live Updates: Infosys Finacle selected for core banking at BankCom, stock rises 1.02%

    Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC) group, has announced the bank’s decision to select Infosys Finacle Suite for its core banking transformation. The stock is up by 1.02% on the NSE, trading at ₹1,457.35.

  • November 29, 2023 14:10

    Stock Market Live Updates: TD Power Systems secures land for manufacturing facility, stock edges up 0.34%

    TD Power Systems informed the exchange that the Karnataka Industrial Areas Development Board has allotted 15.00 acres of land to the Company in the Japansese Industrial Township Vasanthanarasapura 3rd Phase Industrial Area, Tumkur District, for setting up a facility for manufacture of electrical generators, motors, their sub-assemblies and parts. 

    The stock inches up by 0.34% on the NSE, trading at ₹282.

  • November 29, 2023 13:50

    Stock market Today: Datamatics drives imageOne’s digital transformation, stock jumps 4.52%

    Datamatics Global Services has announced the ongoing success of its partnership with imageOne. The company has helped power imageOne’s digital transformation through its intelligent automation solutions, TruCap+ Intelligent Document Processing (IDP) and TruBot Robotic Process Automation (RPA). 

    The stock rises by 4.52% on the NSE, trading at ₹621.15.

  • November 29, 2023 13:14

    Share Market Live Updates: Lemon Tree Hotels President resigns; stock dips 0.18% to ₹114.05 on NSE

    Lemon Tree Hotels has informed the exchange that Vikramjit Singh has resigned from the position of President of the company to pursue an entrepreneurial role. His last date of working with the Company will be January 31, 2024. The stock trades at ₹114.05 on the NSE, down by 0.18%.

  • November 29, 2023 13:11

    Share Market Live Updates: Capacit’e Infraprojects secures ₹101 crore order, stock dips 0.50% at ₹258.15 on NSE

    Capacit’e Infraprojects is in receipt of work order worth ₹101 crore from Tridhaatu Aranya Developers LLP. The stock trades at ₹258.15 on the NSE, down by 0.50%.

  • November 29, 2023 13:10

    Stock Market Live Updates: BHEL inks Ministry of Defence contract; stock surges 4.77% to ₹163.50 on NSE

    BHEL has signed a contract with Ministry of Defence (MoD). The stock is up by 4.77% on the NSE, trading at ₹163.50.

  • November 29, 2023 13:09

    NFO Updates: Aditya Birla Sun Life Transport and Logistics Fund raises Rs 800 crore; enthusiastic response from 53,777 Investors

    Aditya Birla Sun Life AMC collected nearly Rs 800 crore for its Aditya Birla Sun Life Transport and Logistics Fund during the NFO period from October 27 to November 10.

    The open-ended, equity oriented thematic fund received a response from 53,777 investors and has garnered a total of Rs 798.9 crore. The allotment date for the fund was November 17 and the fund reopened for subscription on November 21.

    A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC said, “We are delighted with the response we have received for our transport and logistics fund. This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector. We believe that this fund will offer a differentiated and diversified opportunity to our investors to participate in the economic recovery and growth story of India.”

  • November 29, 2023 13:08

    Stock Market Live Updates: Market momentum builds as Nifty crosses 20,000, BSE hits $4 trillion cap; pre-election rally expected

    The Nifty’s recent crossing of the psychological level of 20,000 and the BSE market cap’s ascent to the $4 trillion mark signal the start of a fresh momentum. Domestic liquidity has provided support, but the lack of foreign inflows due to high US bond yields has been a hindrance. 

    Fortunately, interest rates in the US have peaked, and the dollar index is declining, which is expected to attract foreign institutional investor (FII) inflows into the Indian equity market. Despite strong fundamentals, volatility is expected leading up to the state election results. However, any weakness caused by this could present a compelling buying opportunity.

    The market appears primed for a pre-election rally, and we can anticipate the Nifty soon surpassing 21,000. 19,500 will now serve as a support level.

    [13:06, 29/11/2023] +91 87791 76561: Aditya Birla Sun Life AMC collected nearly Rs 800 crore for its Aditya Birla Sun Life Transport and Logistics Fund during the NFO period from October 27 to November 10. 

    The open-ended, equity oriented thematic fund received a response from 53,777 investors and has garnered a total of Rs 798.9 crore. The allotment date for the fund was November 17 and the fund reopened for subscription on November 21.

    A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC said, “We are delighted with the response we have received for our transport and logistics fund. This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector. We believe that this fund will offer a differentiated and diversified opportunity to our investors to participate in the economic recovery and growth story of India.” -- Santosh Meena, Head of Research, Swastika Investmart Ltd. 

  • November 29, 2023 13:03

    Share Market Live Updates: Havells rises 0.73% on NSE at ₹1,290.65 after ‘Lloyd’ brand launch in West Asia

    Havells India stock inches up by 0.73% on the NSE, trading at ₹1,290.65 following the launch of consumer durable brand “Lloyd” in West Asia market.

  • November 29, 2023 13:02

    Share Market Live Updates: Cyient shares Hit 52-week high, surge 2.65% to ₹1,944.90

    Cyient shares trading at Rs1,944.90, up by 2.65 per cent. Touched the 52-week high of Rs 1,984 in early trade. Reports spurt in volume by 2.30 times.

  • November 29, 2023 13:01

    Share Market Live Updates: Shelter Pharma gets order from Taha Drugs; stock surges 8% to ₹66 on BSE

    Shelter Pharma Limited has secured a order from Taha Drugs & Chemicals Co. Ltd for the product of Allvitamins Tablet Nutraceutical 60000 Box and Joemega Capsule Nutraceutical 60000 Box worth ₹1 Crore approximately. The stock surges by 8% on the BSE, trading at ₹66.

  • November 29, 2023 13:00

    Share Market Live Updates: Sula Vineyards unaffected by Nasik rains; stock at ₹456.40, down 0.94%

    Sula Vineyards Limited announced that the recent unseasonal rains in Nasik have had zero impact on its business. The stock trades at ₹456.40 on the NSE, down by 0.94%.

  • November 29, 2023 12:33

    Nifty Today: Major stocks that hit 52-week high on the NSE

    Aster DM Healthcare (12.73%); Shradha Infraprojects (12.51%); Torrent Power (11.48%); Mindteck (India) (10.46%); Cybertech Systems And Software (9.78%)

  • November 29, 2023 12:32

    Stock Market Live Updates: Bharti Airtel stock rises by 1.09% on the NSE, trading at ₹995.60

  • November 29, 2023 12:23

    Stock Market Live Updates: Binny Mills board has approved the appointment of V. Samyuktha as Managing Director of the Company.

  • November 29, 2023 12:22

    Stock Market Live Updates: PPFAS MF’s 10th unitholders’ meet: Engaging investors in Mumbai

    PPFAS Mutual Fund (PPFAS MF) will be hosting its 10th Unitholders’ Meet on December 2, 2023, in Mumbai. The event will

    provide unitholders with an opportunity to interact with the PPFAS MF team, gain insights into the company’s investment philosophy, and ask questions about their investments.

    “We are excited to host our 10th Unitholders’ Meet and engage with our valued investors and partners,” said Neil Parag Parikh, Chairman & CEO, PPFAS MF. “At PPFAS MF, we believe in building long-term relationships with our unitholders and partners and providing them with the information they need to make informed investment decisions. The Unitholders’ Meet is an important platform to connect with our investors and share our thoughts on various subjects and our investment approach.”

  • November 29, 2023 12:21

    Mid-day Market Update: Sensex and Nifty up on rate cut expectations

    The Sensex and Nifty climb, mirroring gains in Asian and U.S. markets due to dovish statements from a Federal Reserve official, increasing expectations of potential rate cuts as soon as March 2024. The NSE Nifty 50 index rose 0.7% to 20,028.80 points and the S&P BSE Sensex was up 0.73% at 66,659.80, respectively, as of 12:05 p.m. 

    Stocks on the BSE surged to 2,072 by noon on November 29, 2023, while 1,462 stocks experienced declines, and 147 remained unchanged. Among 3,681 total trades, 276 stocks hit a 52-week high, contrasting with 21 stocks reaching a 52-week low.

    At noon on the NSE, major gainers included Hero Motocorp (2.66%), M&M (2.46%), Britannia (2.34%), Wipro (2.24%), and Tech Mahindra (1.88%). Conversely, major losers encompassed ONGC (-0.64%), Coal India (-0.57%), Nestle India (-0.49%), Adani ports (-0.40%), and Adani Enterprises (-0.33%).

    Global equities display a mixed trend as analysts anticipate fresh triggers while highlighting the impact of fund rotations on market stability. Q2FY24 earnings showcased moderate growth with large-cap outperformance driven by sectors like energy, auto, and lending financials amidst input cost deflation. Fair valuations signal a balanced risk-reward strategy advised across sectors by HDFC Securities.

  • November 29, 2023 12:12

    Stock Market Live Updates: Ramco Systems, Deloitte join forces; stock up 4.49% at ₹288.55

    Ramco Systems informed that Deloitte Touche Tohmatsu India LLP has entered a strategic partnership with the company. Together, they are committed to delivering an all-encompassing payroll solution that ensures operation services, compliance, seamless user experience, and comprehensive coverage spanning 150+ countries, all accessible through a single, unified payroll platform.

    The stock rises by 4.49% on the NSE, trading at ₹288.55.

  • November 29, 2023 12:12

    Nifty Today: Major gainers, losers at noon trade

    Major gainers on the NSE at 12 pm:

    Hero Motocorp (2.66%); M&M (2.46%); Britannia (2.34%); Wipro (2.24%); Tech Mahindra (1.88%)

    Major losers:

    ONGC (-0.64%); Coal India (-0.57%); Nestle India (-0.49%); Adani ports (-0.40%); Adani Enterprises (-0.33%)

  • November 29, 2023 12:11

    Sensex Today: BSE noon update: 2,072 stocks rise, 1,462 decline; 276 hit 52-week high, 21 reach 52-week low

    Stocks advanced on BSE at 12 noon on November 29, 2023, were 2,072 against 1,462 stocks that declined; 147 stocks remain unchanged. Total stocks traded were 3,681. The number of stocks that recorded a 52-week high was 276, and those that hit a 52-week low was 21.

  • November 29, 2023 12:10

    Share Market Live Updates: Ultracab bags ₹47.78 crore order, stock up 1.79% at ₹19.35

    Ultracab bags order from Sterling & Wilson Pvt. Ltd., worth approx. ₹47.78 crore. Ultracab stock is up by 1.79% on the BSE, trading at ₹19.35.

  • November 29, 2023 12:08

    Stock Market Live Updates: DroneAcharya expands training reach with IIT Ropar, shares up

    DroneAcharya Aerial Innovations Ltd’s shares were up by 1.22 per cent after the company announced its collaboration with IIT Ropar to launch its third Remote Pilot Training Organization (RPTO). With centres in Pune and Rashtriya Raksha University, Gujarat, the collaboration aims to address the demand for skilled drone professionals in Northern India. 

  • November 29, 2023 11:57

    Stock Market Live Updates: Torrent Power stock jumps 10.55% on the NSE, trading at ₹933.10

  • November 29, 2023 11:57

    Stock Market Live Updates: Aurobindo Pharma gets USFDA nod for Darunavir tablets; stock up 0.87% at ₹1,025

    Aurobindo Pharma Limited has received final approval from USFDA to manufacture and market Darunavir Tablets, 600 mg and 800 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Prezista Tablets, 600 mg and 800 mg, of Janssen Products, L.P. 

    The stock is up by 0.87% on the NSE, trading at ₹1,025.

  • November 29, 2023 11:56

    Stock Market Live Updates: Sterlite Tech sells 40% stake in Chinese subsidiary; stock down 0.35% at ₹156.70 on NSE

    Sterlite Technolgies has informed that Metallurgica Bresciana S.p.A., Italy, a wholly owned subsidiary of the Sterlite Technologies Limited (STL), has agreed to sell its 40% of outstanding shares held in Metallurgica Bresciana Maanshan Special Cable Ltd., China. 

    Sterlite Technolgies stock trades at ₹156.70 on the NSE, down by 0.35%

  • November 29, 2023 11:35

    Share Market Live Updates: BPCL announces Rs 21 interim dividend; stock up 1.97% to Rs 432.65

    Bharat Petroleum Corporation Limited (BPCL) declared an interim dividend of Rs 21 per equity share for FY23-24. The record date for eligibility to receive the dividend is set as December 12, 2023, The dividend payment or warrants will be processed on or before December 28, 2023. Stock rises 1.97 per cent to Rs 432.65

  • November 29, 2023 11:18

    Nifty prediction today – November 29, 2023: Bullish. Go long now and accumulate on dips

    Nifty 50 has opened the day with a wide gap-up and is trading strong. It is trading at 20,008, up 0.6 per cent. Outlook is bullish. Immediate support is at 19,980. Nifty can rise to 20,200. A fall below 19,800 will only bring the index under pressure. But such a fall is unlikely as fresh buyers are likely to come into the market at lower levels.

  • November 29, 2023 11:17

    Bank Nifty prediction today – Nov 29, 2023: Intraday trend bullish, go long

    Bank Nifty opened today’s session at 44,081.75 versus yesterday’s close of 43,880.95. It is now at 44,120, up 0.5 per cent.

    Supporting the bullish bias, the advance/decline ratio stands at 9/2. Axis Bank, up 1 per cent, is the top gainer whereas IDFC First Bank, down 0.5 per cent, is the top loser.

  • November 29, 2023 11:04

    Sensex Today: Major gainers, losers at 11 a.m.

    Major gainers on the BSE at 11 am:

    Torrent Power (14.12%); Aster DM (13.90%); ATGL (10.34%); Edelweiss (8.48%); Borosil (6.97%)

    Major losers:

    UTI Sp (-10.46%); Aether (-7.80%); Texrail (-7.32%); Lloyds (-3.87%); Raymond (-3.28%)

  • November 29, 2023 11:00

    Stock Market Live Updates: Rajoo Engineers builds factory in Rajkot, stock up 1.93% on BSE

    Rajoo Engineers has started construction and installation of 18,000 sq feet factory shed on recently acquired three industrial plots adjoining to the factory in Rajkot. The stock trades at ₹166.35 on the BSE, up by 1.93%.

  • November 29, 2023 10:58

    Stock Market Live Updates: Top gainers of Nifty PSU Bank stocks

    Union Bank (2.87%); Indian Bank (1.60%); Canara Bank (1.34%)

  • November 29, 2023 10:52

    Share Market Today: Canara Bank stock gains 1.26% amid RBI approval

    Canara Bank stock is up by 1.26% on the NSE, trading at ₹401.10. RBI had accorded approval to the bank for divesting its shareholding (70%) in its unlisted subsidiary Canbank Factors Ltd.

  • November 29, 2023 10:49

    Stock Market Live Updates: Markets climb in early trade on foreign fund inflows, buying in IT stocks

    Equity benchmark indices rallied in early trade on Wednesday amid continuous foreign fund inflows along with buying in heavyweight IT stocks, Reliance Industries and HDFC Bank.

    The 30-share BSE Sensex climbed 305.44 points to 66,479.64 in early trade after beginning the day on a positive note. The Nifty went up by 103 points to 19,992.70.

  • November 29, 2023 10:47

    Stock Market Today: Reliance Industries stock inches up by 0.56% on the NSE, trading at ₹2,407.80.

  • November 29, 2023 10:41

    IPO Watch: Here is the post-listing view on IREDA IPO from Shivani Nyati, Head of Wealth, Swastika Investmart Ltd

    In a much-anticipated debut, IREDA, a leading non-banking financial institution (NBFI) dedicated to financing renewable energy projects, made its mark on the stock markets today, listing at Rs 50 per share, a premium of 56% over its IPO price of Rs 32. The listing was above the market expectations, reflecting the strong fundamentals and growth potential of the company.

    IREDA’s strong financial performance and focus on the burgeoning renewable energy sector make it an attractive investment proposition. The renewable energy sector is poised for significant growth in the coming years, driven by government initiatives and increasing environmental concerns.

    Investors who participated in the IREDA IPO can be pleased with the strong listing gains. The company’s long-term prospects also appear promising, making it a worthwhile investment for those with a long-term investment horizon.

  • November 29, 2023 10:28

    Stock Market Live Updates: Sectoral Outlook: India to attract big inflows in real estate in 2024, says Colliers

    A spike in investment activity in the real estate sector in the Asia Pacific region is expected in 2024, with India being one of the major destinations for inflows, according to a report by Colliers.

    “2024 definitely looks more positive than 2023. There’s a lot of pent-up equity looking to find a home,” said Chris Pilgrim, MD, Global Capital Markets, Asia Pacific at Colliers. He pointed out that the depth of capital in most Asian markets had to diversify, and real estate would be one of the sectors in which allocations are set to rise.

  • November 29, 2023 10:24

    Share Market Live Updates: LIC unveils new product: LIC Jeevan Utsav, stock edges up

    Life Insurance Corporation of India has announced the launch of its new product - LIC Jeevan Utsav. The stock trades at ₹675.50 on the NSE, up by 0.18%.

  • November 29, 2023 10:20

    Stock Recommendations: Prabhudas Lilladher downgrades Jindal Stainless stock to ‘Accumulate’ with lower target price

    Prabhudas Lilladher has downgraded the stock to ‘Accumulate’ from previous ‘Buy’ rating. Accumulate with TP of ₹532 (earlier ₹543) valuing at 6.5x EV of Sept 2025E EBITDA.

    “We expect stock to trade at higher multiples if company delivers similar performance in current falling raw material pricing scenario over next few quarters; on consistency of EBITDA per ton compared to its peers in carbon steel,” says Tushar Chaudhari - Research Analyst, Prabhudas Lilladher Pvt Ltd.

  • November 29, 2023 10:11

    Commodities Market Live Updates: Pulses import more than double in H1 as erratic rain affects output

    Pulses imports into the country more than doubled in the first half of the current financial year as erratic and shortfall in the south-west monsoon rain in the key growing regions impacted their production.

    Per the latest official data, pulses imports in volumes saw an increase of close to 113 per cent to over 14.85 lakh tonnes (lt) during the April-September period of financial year 2023-24 compared with 6.98 lt in the same period a year ago. In dollar terms, shipments clocked a similar growth exceeding $1.26 billion during April-September over $595 million a year ago. In rupee terms, the pulses import bill clocked a 122 per cent growth at ₹10,440 crore over ₹4,695 crore in the year-ago period.

  • November 29, 2023 10:09

    Commodities Market Live Updates: Potato prices in Bengal crash due to slack export demand

    Potato prices in West Bengal have currently dropped by around 30 per cent compared with the November-end last year due to lack of export opportunities and early arrival of fresh produce from Jharkhand.

    Facing supply glut and lower prices in markets, potato growers from the state were earlier exporting the tuber to Bangladesh. However, currently there is no demand for potato imports in the neighbouring country as newly harvested potatoes have started to flood the markets.

  • November 29, 2023 10:08

    Stock Market Live Updates: Aster DM Healthcare surges 9.69% on NSE after board’s approval for share sale

    Aster DM Healthcare stock surge by 9.69% on the NSE, trading at ₹364.90. The company’s board had approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited. The consideration receivable from the transaction is $1.001 billion.

  • November 29, 2023 10:00

    Stock Market Live Updates: Aurionpro bags top award, stock up by 1.38% on NSE

    Aurionpro Solutions Limited has been conferred with the “Best Transaction Banking Implementation: Most Impactful Project” award at the 5th IBS Intelligence Global FinTech Innovation Awards. The stock is up by 1.38% on the NSE, trading at ₹1,820.

  • November 29, 2023 09:58

    Stock Market Live Updates: PCBL soars 3.91% on NSE after Aquapharm acquisition approval

    PCBL stock rises by 3.91% on the NSE, trading at ₹264.20. The company’s board had approved the acquisition of Aquapharm Chemicals Private Limited (ACPL), for an aggregate consideration of ₹3,800 crore, representing 100% of the issued and paid-up share capital (on a fully diluted basis) of ACPL.

  • November 29, 2023 09:53

    Stock recommendations: Siemens: Prabhudas Lilladher maintains ‘Accumulate’ rating, TP at ₹4,241

    Siemens: Prabhudas Lilladher retain ‘Accumulate’ rating on Siemens stock with TP of ₹4,241 (same as earlier), valuing it at PE of 60x SY25E, factoring in strong outlook and focus on high growth areas such as digitalization, Automation & energy efficiency product offerings.

  • November 29, 2023 09:45

    Stock Market Live Updates: Orchid Pharma stock rises by 2.20% on the NSE, trading at ₹576.50.

  • November 29, 2023 09:45

    Stock Market Live Updates: Zomato stock up over 3%, multiple large deals on the BSE and NSE

  • November 29, 2023 09:44

    Stock Market Live Updates: Geojit’s Anand James: Nifty nearing objectives, holds strong support at 19,800/750

    Anand James, Chief Market Strategist at Geojit Financial Services.

    Nifty outlook : Nifty threw caution to wind and with yesterday’s large stride, has stepped closer to the 19960-20100 objectives that we have been playing since last week. Downside marker may be pushed higher to 19875, the breakout point of the ascending triangle. In the event of reversals past the same, the prospects of 19591, the 50dma looks very low, with 19800/750 looking firm enough to lend support. - Read more

    Derivative outlook:

    Nifty weekly contract has highest open interest at 20000 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 20200 for Calls and 19800 for Puts in weekly and at 20200 for Calls and 19800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 10.30%, increased future index shorts by 2.45% and in index options by 16.69% in Call longs, 11.37% in Call short, 9.38% in Put longs and 21.00% in Put shorts. 

    USD-INR outlook:

    Though positivity lingered through the day, 83.4 stood firm and prompted a pull back as expected. This, however is not expected to exceed 83.26, and is likely to be followed yet another attempt to overcome 83.4. Slippage below 83.26 could signal loss in strength, calling for consolidation inside 83.19 - 83.02 again.

  • November 29, 2023 09:43

    Stock Market Live Updates: VK Vijayakumar of Geojit: Indian market rally continues, embrace quality stocks

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    “Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3% and the dollar index dropping below 103 are positive for equity markets. FIIs have turned buyers responding to the changed reality.

    What should investors do now? Investors should take cues from the wisdom of the investment legend Charlie Munger who died yesterday. Munger advised investors: “don’t be gamblers, be patient investors.”There is a lot of gambling happening in the market now in low grade stocks. These should be avoided. Investors should buy quality stocks which are fairly priced, and wait patiently. There is value in largecap banking, IT and autos for patient investors.

    A big move in the market is likely after the state election results are known. Perhaps the exit polls tomorrow evening may provide some clues.”

  • November 29, 2023 09:42

    Stock Market Live Updates: Wipro shares up 1.64% after AWS collaboration announcement

    Wipro stock rises by 1.64% on the NSE, trading at ₹403.35 after it announced the launch of Continuous Compliance Solution built on Amazon Security Lake in collaboration with Amazon Web Services (AWS).

  • November 29, 2023 09:41

    Stock Market Live Updates: Sectoral Outlooki: Fitch forecasts divergent performance in APAC banking sectors for 2024

    Fitch Ratings expects greater divergence in the performance of banking sectors in Asia Pacific (APAC) in 2024, with five countries set to report broadly improving results and three to see deterioration. These outlooks stand in contrast to those leading into 2023, when we projected a broadly stable performance for the vast majority of APAC banking sectors, with only our outlook on Sri Lanka judged to be deteriorating at that time.

  • November 29, 2023 09:40

    Stock Market Live Updates: Trading Tweaks 

    Price band revised from 20% to 10%: The New India Assurance Company 

    Price band revised from 10% to 5%: Talbros Automotive Components 

    Move into a short-term ASM framework: Man Infra, Sequent Scientific. 

    Move out of a short-term ASM framework: Wockhardt

  • November 29, 2023 09:40

    Stock Market Live Updates: Pledge Share Details

    GO Fashion: Promoter Gautam Saraogi revoked a pledge of seven lakh shares on Nov. 24.

  • November 29, 2023 09:39

    Stock Market Live Updates: Insider Trades 

    NRB Bearings: Promoter Harshbeena Zaveri bought 19,100 shares between Nov. 21 and 24.

    Bajaj Electricals: Promoter group Niraj Holdings bought 4.7 lakh shares on Nov. 23. Promoter Group Rajivnayan Bajaj A/c Rishab Family Trust sold 4.7 lakh shares on Nov. 23. 

    Hercules Hoist: Promoter group Niraj Holdings bought 2,928 shares on Nov. 23. Promoter Group Rajivnayan Bajaj sold 2,928 shares on Nov. 23. 

    JK Cement: Promoter Kalpana Singhania sold 75,250 shares between Nov. 21 and 23. 

    Mukand: Promoter group Niraj Holdings bought 1.43 lakh shares on Nov. 23. Promoter Rajivnayan Bajaj sold 1.43 lakh shares on Nov. 23. 

    Advanced Enzyme: Promoter group Advanced Vital Enzymes bought 31,802 shares between Nov. 23 and 24. 

  • November 29, 2023 09:39

    Stock Market Live Updates: Bulk Deals 

    Avantel: Kantheti sold 5.3 lakh shares (0.65%) at Rs 130.88 apiece. 

    Orchid Pharma: Dhanuka Laboratories sold 13 lakh shares (3.18%) at Rs 571 apiece. UTI Mutual Fund bought 4.45 lakh shares (1.09%) at 571 apiece. 

  • November 29, 2023 09:38

    Stock Market Live Updates: Tata Motors stock rises by 1.03% on the NSE, trading at ₹474.40

  • November 29, 2023 09:35

    Nifty Today: Major gainers, losers at 9.30 a.m.

    Major gainers on the NSE at 9:30 am:

    Tech Mahindra (2.32%); Bharti Airtel (1.99%); LTIMindtree (1.91%); Wipro (1.81%); TCS (1.10%)

    Major losers:

    BPCL (-0.97%); Coal India (-0.75%); Power Grid (-0.43%); ONGC (-0.21%); Sun Pharma (-0.18%)

  • November 29, 2023 09:31

    Stock Market Live Updates: ‘DHL’s resilient growth in India signals optimism for 2024’

    DHL Express, a global logistics major, is experiencing a bounce back in growth momentum in the Indian market amid a bleak outlook for the global business, fuelled by an uptick in momentum in the B2C sector. The company expects to have increased growth in 2024, said Travis Cobb, the Executive Vice President of Global Operations and Aviation to businessline.

  • November 29, 2023 09:27

    Stock Market Live Updates: Stocks in news post market closure

    Varun Beverages Limited : Company has incorporated a subsidiary company in Mozambique i.e. VBL Mozambique, SA inter-alia to carry on the business of distribution of Beverages.

    Bharat Heavy Electricals Ltd : Company and Electricité de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project ( 6x1650 MWe) to be established by NPCIL in India.

    HAVELLS INDIA LTD : Havells, largest Indian FMEG company launches ‘Lloyd’, its leading Consumer Durable brand in the Middle East Market Expanding its global footprint, Havells Partners with TeknoDome to roll out Lloyd’s range

    TATA POWER CO.LTD : Company secures Letter of Award for development of 200 MW Firm and Dispatchable Renewable Energy Project with SJVN Limited

    Siemens Limited : Board Approved an investment of around Rs. 416 crore towards capacity addition for Power Transformers and Vacuum Interrupters.

    Tube Investments of India Ltd : The government has approved the scheme of amalgamation of Cellestial E-Mobility and Cellestial E-Trac with Tl Clean Mobility

    H.G. Infra Engineering Limited : Company has received the provisional completion certificate for the Rehabilitation and Upgradation of Nandurbar road line project in the state of Maharashtra worth of ₹ 298.11 crores

    Electronics Mart India Limited : Company has commenced the commercial operations of a new Multi Brand Store under the brand name ‘BAJAJ ELECTRONICS’ on 28th November 2023 at 69-4-9 & 69-13-10, Block No. 69, B-18 & 27, Gaigolupadu, Revenue Ward No. 29, Ramanayyapeta, Kakinada, East Godavari, Andhra Pradesh - 533005

    RAJNISH RETAIL LIMITED : Board meeting to be held on 01 Dec 2023 to Consider fund raise in Multiple ways

    PCBL LIMITED : Board in-principle approval for the acquisition Aquapharm Chemicals Private Limited (“ACPL”), for an aggregate consideration of INR 3,800 crores (subject to agreed adjustments) representing 100% of the issued and paid-up share capital.

    Aster DM Healthcare: The company plans to separate its India and Gulf businesses in a transaction worth $1 billion. The Moopen family-owned healthcare company’s subsidiary, Affinity Holdings, will transfer its shares in Aster DM Healthcare FZC—the Gulf unit—to promoter-owned Alpha GCC Holdings. After the deal, Alpha GCC Holdings will be jointly owned by Aster India and Fajr Capital Advisors in a 35:65 ratio

    Wipro: The technology services and consulting company announced the launch of their ‘Continuous Compliance Solution’ built on Amazon Security Lake in collaboration with Amazon Web Services

    Zomato: Alibaba Group unit Alipay Singapore plans to sell up to 29.6 crore shares in block deals, according to Bloomberg.

    R Systems International: The board of unit Velotio Technologies has approved the acquisition of an additional 60% equity share of Scaleworx Technologies. Post-acquisition, Scaleworx will become a wholly owned subsidiary of Velotio

    Yathart Hospital and Trauma: The company received an order from the Commissionerate of Sagar Sambhag, Madhya Pradesh, to take over the premises of the hospital, as the land as stated in the said order belongs to the Government of Madhya Pradesh

    Siemens India: The company reported a 24.7% rise in revenue year-on-year to Rs 5,808 crore and a 12.4% decline in net profit at Rs 571.6 crore in the fourth quarter. It announced an investment of Rs 416 crore in capacity addition for power transformers and vacuum interrupters

  • November 29, 2023 09:26

    Stock Market Live Updates: Adani Power launches green ammonia pilot project at Mundra plant; stock gains over 3%

    Adani Power Ltd. has undertaken a ground-breaking green ammonia combustion pilot project at its Mundra plant as part of its multipronged decarbonisation initiatives.

    Adani Power stock is up by 3.26% on the NSE, trading at ₹460.75.

  • November 29, 2023 09:25

    Stock Recommendations: Motilal Oswal maintains BUY on Union Bank, sets ₹130 target

    Motilal Oswal retained BUY rating for the stock with a TP of ₹130. It said that the Bank has been reporting a healthy performance over the past few quarters, with earnings driven by strong NII, healthy margins, higher other income and moderation in provisions. 

    “Loan growth has picked up well and has been broad-based with focus likely to remain on further credit growth improvement. We estimate loans to grow at ~12% over FY24-26E with RoA/RoE at 1.2%/17.3%, respectively, by FY26.”

  • November 29, 2023 09:23

    Stock Market Live Updates: Opening Bell: Sensex and Nifty begin positively amidst global momentum

    Indian benchmark indices, Sensex and Nifty, commenced Wednesday on a positive note, buoyed by global cues. 

    In early trading, the 30-share BSE Sensex ascended by 249.95 points, reaching 66,424.15. Simultaneously, the NSE Nifty surged by 86 points, touching 19,975.70.

    Notable gainers from the Nifty pack included Adani Enterprises, Adani Ports, TechMahindra, HCL Tech, and Bharti Airtel. Conversely, Divis Labs, Coal India, Sun Pharma, and PowerGrid witnessed declines.

    Vinod Nair, Head of Research at Geojit Financial Services, said: “The gradual return of FIIs in November post the global sell-off during the three months of (Aug to Oct) has a steady positivity in India.

    However, analysts expect the market to remain volatile ahead of the F&O expiry (on Thursday) and exit poll results of five assembly elections.

    The US stocks ended in the green overnight, but equities across the Asia-Pacific region are mixed. While Japan, Taiwan, Australia, and Singapore stocks are up marginally, Korean and Chinese markets are down.

    Analysts said investors across the globe await fresh triggers. They added that until such time, the rotation of funds will keep the market flat.

    As per HDFC Securities’ India equity strategy, the Q2FY24 earnings season displayed mixed sectoral performances within HSIE coverage (~215 stocks). Overall, revenue/PAT showed moderate YoY growth of 3%/34% and slight QoQ changes of 1%/-2%. Large-caps thrived with a 37% YoY earnings surge, led by energy, auto, and lending financials, while midcaps grew by 12%. Input cost deflation remained a highlight, aiding profitability, but future growth will hinge on volume increments. Valuations appear fair at current levels, urging a balanced risk-reward approach across sectors.

  • November 29, 2023 09:08

    Stock Market Live Updates: Stocks in action 29 November 2023

    PCBL: The board has approved the acquisition of Aquapharm Chemicals for Rs 3,800 crore. 

    Tata Power: Unit Tata Power Renewable Energy secured a Letter of Award for the development of a 200 MW firm and dispatchable renewable energy project with SJVN.

    Canara Bank: The RBI has cleared the lender’s plans to divest a 70% stake in its subsidiary, Canbank Factors. The lender has also proposed to buy out the stakes of Bank of Baroda and DBS Bank India in its unlisted subsidiary, Canbank Computer Services.

    Aster DM Healthcare: The company plans to separate its India and Gulf businesses in a transaction worth $1 billion. The Moopen family-owned healthcare company’s subsidiary, Affinity Holdings, will transfer its shares in Aster DM Healthcare FZC—the Gulf unit—to promoter-owned Alpha GCC Holdings. After the deal, Alpha GCC Holdings will be jointly owned by Aster India and Fajr Capital Advisors in a 35:65 ratio.

    Tube Investment of India: The government has approved the scheme of amalgamation of Cellestial E-Mobility and Cellestial E-Trac with Tl Clean Mobility. 

    Wipro: The technology services and consulting company announced the launch of their ‘Continuous Compliance Solution’ built on Amazon Security Lake in collaboration with Amazon Web Services.

    Havells: The company has launched ‘Lloyd’, its leading consumer durable brand in the Middle East market. 

    Varun Beverages: The company has incorporated a subsidiary company in Mozambique, i.e., VBL Mozambique, SA, to carry on the business of distribution of beverages.

    Bharat Heavy Electricals: The company has signed a Memorandum of Cooperation with a French state-owned company, Electricité de France S.A., France, to explore the opportunity to maximise the local content of the Jaitapur nuclear power project to be established by NPCIL in India. The Ministry of Defence inked a contract with BHEL to procure 16 upgraded Super Rapid Gun Mounts and accessories worth Rs 2,956.89 crore for the Indian Navy.

    Zomato: Alibaba Group unit Alipay Singapore plans to sell up to 29.6 crore shares in block deals, according to Bloomberg. 

    R Systems International: The board of unit Velotio Technologies has approved the acquisition of an additional 60% equity share of Scaleworx Technologies. Post-acquisition, Scaleworx will become a wholly owned subsidiary of Velotio.

    Trident: CFO Avneesh Barua resigned on Nov. 28. 

    IG Petrochemicals: The company has decided to file an appeal against an income tax demand amounting to Rs 46.26 crore with the Karnataka High Court. 

    Gail: The Government of India appointed Rajeev Kumar Singhal as Executive Director with effect from the date of his assumption of charge of the post till the date of his superannuation, i.e., Feb. 29, 2028.

    ICICI Lombard General Insurance: MD and CEO Bhargav Dasgupta has sold 2.5 lakh equity shares in tranches, and the last transaction was undertaken by him on Nov. 28. 

    Global Health: Sanjeev Kumar has resigned as chief financial officer and key managerial personnel w.e.f. Nov. 28.

    Yathart Hospital and Trauma: The company received an order from the Commissionerate of Sagar Sambhag, Madhya Pradesh, to take over the premises of the hospital, as the land as stated in the said order belongs to the Government of Madhya Pradesh

    Timex Group: Sylvain Ernest Louis Tatu has resigned as Non-Executive Director w.e.f. Nov. 27 due to personal reasons. 

    PDS: The board has appointed Sandra Campos as an additional woman independent director for a period of two years, w.e.f. Nov. 28.

    Siemens India: The company reported a 24.7% rise in revenue year-on-year to Rs 5,808 crore and a 12.4% decline in net profit at Rs 571.6 crore in the fourth quarter. It announced an investment of Rs 416 crore in capacity addition for power transformers and vacuum interrupters.

  • November 29, 2023 09:06

    Commodities Market Live Updates: Gold rises for 4th day in row to 6-mth high

    Gold continued its upward momentum for a fourth consecutive session, reaching a more than six-month high and closed at $2045 an ounce.

    This surge is attributed to a weakening dollar and the prevailing belief that the U.S. Federal Reserve has concluded its interest rate hikes. There is a growing sentiment among Fed policymakers to maintain interest rates throughout the remainder of the year and to adopt a wait-and-see approach before considering any rate cuts. Fed Governor Christopher Waller expressed increased confidence in the current policy stance.

    Upcoming economic indicators to watch include the month-over-month German Import Prices, year-over-year Spanish Flash Consumer Price Index within the Euro Zone, and the quarter-over-quarter Preliminary Gross Domestic Product (GDP) and Preliminary GDP Price Index from the United States.

  • November 29, 2023 09:03

    Stock Market Live Updates: Vadodara’s Kronox Lab Sciences files IPO draft with SEBI

    Vadodara-based Kronox Lab Sciences has filed its Draft Offer Document with SEBI for IPO on Main board. A manufacturer of high purity speciality fine chemicals, Kronox’s products find application in a wide spectrum of industries for diversified uses such as pharmaceuticals formulations, active pharmaceutical ingredients, biotech, scientific research and testing, nutraceuticals, personal care, agrochemicals, animal health, metallurgy, amongst others. 

    An import substitution player, Kronox exports to more than 20 countries with major exports to USA, United Kingdom, Mexico, Australia, Egypt, amongst others. The Company’s three manufacturing facilities and Research, Development and Testing laboratory are situated at Padra, Vadodara, Gujarat. The Company has filed its Draft Red Herring Prospectus (DRHP) with SEBI. 

    The Offer with a face value of Rs 10 per equity share consists of a fresh issue of equity shares and an offer-for-sale (OFS) by promoters selling shareholders. As per the DRHP, the proceeds from the fresh issue will be utilised for funding the working capital requirements and general corporate purposes.

  • November 29, 2023 08:53

    Stock Market Live Updates: Onest and Shiva Pharmachem gets Sebi nod for IPO

    Mumbai-based Onest Ltd and Vadodara-based Shiva Pharmachem has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

    Onest and Shiva Pharmachem had filed preliminary IPO papers with Sebi on July 28, and August 21, 2023, respectively.

  • November 29, 2023 08:41

    Stock Market Live Updates: Sectoral Outlook: Prabhudas Lilladher on Consumer Durables 

    We connected with 18 Electronics dealers across India and visited 10 electronics retailers (MBO & EBO) to assess market demand and pricing. Our findings indicated strong double-digit YoY growth in the demand for Refrigerators, Washing Machines, and TVs during the recent festival season (last 15-20 days of Deepawali). However, the demand for Air Conditioners was moderate in comparison due to weak season.

    No Price Hike taken

    Due to fierce competition, brands have not yet taken any price hike. Nevertheless, at the retail level, offers and discounts are prevalent as a strategy to secure a larger share of the market.

    Good Demand in Deepawali season

    Volumes Picked up in Refrigerator and TV segment and no major change was seen in Financing terms post changes in policy by RBI.

    Inventory at normal level

    Our channel checks suggest that inventory is at normal level and RAC inventory will be built post 15th Dec.

    Other highlights

    The most selling product in RAC segment is 1.5 ton 3-star AC’s of Voltas and Daikin. In the high end range, O-General AC’s are preferred. Most selling TVs were 55 inches.

  • November 29, 2023 08:21

    Stock Recommendations: Emkay Global on Jubilant Foodworks: Sell: Target Price: Rs 380

    JUBI has announced its intention to increase its stake to 100% in DP Eurasia vs. 49% currently. The 51% stake (balance) would be acquired for a consideration of Rs6.6bn at Rs88.5/share (EUR0.97/share). On successful completion, JUBI will have acquired the entire stake for ~Rs11bn (~Rs74/sh), at attractive H1 annualized EV/sales and EV/adj. EBITDA of ~1x and 8x, respectively. Further, JUBI plans to delist DP Eurasia, as its investors are concerned about geopolitical/currency risks (while JUBI sees it as a long-term investment). DP holds leadership share in Turkey and has recently exited Russia, which was its weaker market. While this acquisition gives JUBI access to a new market at attractive valuations, adverse currency movements and hyper-inflation in Turkey remain a risk. TRY has depreciated ~79% vs the INR, in the last five years. Given the volatile operating environment, we remain conservative and see the consistent delivery in DP as a potential upside. We have a SELL rating on JUBI, with TP of Rs380/share (45x Dec-25E EPS).

  • November 29, 2023 08:17

    Stock Market Live Updates: Sectoral Watch: Motilal Oswal on Automobiles

    Our interactions with leading channel partners indicate that the festive season ended on a strong note with 15-20% YoY growth for 2Ws and SUVs. While growth tends to slow down post-festival season, 2W demand is still better as we expect 5-7% YoY growth in the second half of the month. Demand has improved in almost all the regions and dealers expect the momentum to continue, especially in the northern belts, as demand is further supported by the wedding season. For PVs, festive period growth was largely underpinned by healthy SUV demand and 25-30% higher discounts YoY for lower-end models. However, volume growth remained flattish after the festive period due to continued weakness in the entry-level portfolio. MHCV retails are expected to decline 4-6% YoY during the month. Our interactions with channel partners suggest that demand momentum remains positive across most of the underlying businesses, while anticipation of an increase in freight rates in Jan’24 should further boost demand. In tractors, we expect retails to decline 20-22% YoY as the benefits of government-led subsidies are reducing coupled with a slowdown in overall demand. We estimate dispatches for 2Ws/3Ws/PV/CV/tractors to grow 35%/ 29%/15%/14%/11% YoY during Nov’23.

  • November 29, 2023 08:17

    Stock Market Live Updates: Sectoral Watch: Emkay Global on auto and auto ancillaries

    The Federation of Automobile Dealers Associations (FADA) reported that auto industry retail volumes grew ~19% YoY in the 2023 festive season (42-day period, beginning on the 1st day of Navratri through to 15 days post Dhanteras), led by ~21% higher 2W sales. PVs noted ~10% growth, with CVs up ~8% and growth in Tractors staying flat. We continue to believe that 2W recovery would sustain post the festive season, driven by replacement demand; 4W segments (PVs, CVs) are less attractive, amid slowing underlying growth momentum.

    ommentary from FADA and companies alike, around buoyancy in rural demand along with improving retail performance, reinforces our positive stance on 2Ws. We believe that 2W festive performance is not a one-off and that growth here is likely to sustain amid a record-high fleet age (with industry volumes still ~25% off the previous peaks, as of FY23) driving replacement-led upturn over the next 2-3 years. TVSL is our top pick in Autos, on the back of its enduring margin improvement despite rising EV share; we also like EIM (focused play on premium 2Ws, expanding presence in the performance-oriented sub-segment with attractive valuations; risk-reward favorable) and HMCL (improving rural demand amid supportive valuations; refer to Steady quarter; rural-demand cycle finally turning). Relatively, momentum is expected to slow down in PVs amid emerging signs of softness (best of product cycle now largely behind, shrinking order-books, high inventories). We are also cautious on CVs, as the best of the current upcycle may now be behind (with trucking system capacity up 40-50% vs. FY19, similar to increases seen in the past two upcycles).

  • November 29, 2023 08:16

    IPO Watch: IREDA IPO anticipates strong listing

    Shares of Indian Renewable Energy Development Agency will be listed at the bourses today. The PSU major has fixed the IPO price at ₹32, at the upper end of price band ₹30-32. The IPO witnessed overwhelming response from all category of investors, as it was subscribed nearly 39 times.

    Mehta Equities predicts a 25 per cent or more listing gain against the ₹32 issue price, citing IREDA’s leading role in renewable energy financing and potential Navratna company upgrade.

  • November 29, 2023 08:15

    Stock Market Live Updates: Adani Power joins IHI & Kowa to decarbonise Mundra plant

    Adani Power has collaborated with IHI Corporation and Kowa Corporation to decarbonise its own thermal power plants, starting with the 4,620 MW Mundra Power Plant.

  • November 29, 2023 08:14

    Stock Market Live Updates: Cipla EU, subsidiary of Cipla, has acquired additional stake in JV with Cooper Pharma

  • November 29, 2023 08:14

    Stock Market Live Updates: Varun Beverages has Incorporates a subsidiary company in Mozambique - VBL Mozambique, SA

  • November 29, 2023 07:59

    Stock Market Live Updates: Stocks that will se action today: November 29, 2023

    Buzzing Stocks: Zomato, Aster DM, Tata Power, BHEL, SJVN, Canara Bank, Havells India, PCBL, Jio Financial

  • November 29, 2023 07:45

    Stock Market Live Updates: Securities In F&O Ban For Trade Date 29-Nov-2023

    BHEL 

    BALRAMPUR 

    GRANULES

  • November 29, 2023 07:45

    Stock Market Live Updates: India Equity Strategy by HDFC Securities

    Lower input costs lifted up earnings ; benefits largely over

    Q2FY24 earnings season saw an overall in-line performance, with wide divergences across sectors and companies. Aggregate revenue/PAT grew by 3%/34% YoY and 1%/-2% QoQ across the HSIE coverage (~215 stocks), with their four-year CAGRs at 13%/18%. Large-cap stocks of the coverage universe dominated the incremental earnings, which grew by 37% YoY, while the midcap category grew by 12% YoY. Further, 88% of incremental YoY earnings growth came from only three sectors—energy (56%), auto (16%) and lending financials (16%)—reflecting heavy lifting by these sectors. Our coverage universe saw strong YoY earnings growth in auto, lending financials, industrials, real estate, energy, cement and pharma sectors. On the other hand, staples, metals, chemicals, IT and consumer discretionary sectors disappointed. 

    The key theme of the quarter was the continuation of input cost deflation, which helped companies improve their profitability in spite of muted YoY revenue growth. We believe this benefit of commodity cost deflation is largely over and now future earnings growths have to be volume-led.

    The Nifty 50 index is now trading at ~20.3x FY24 and ~17.6x FY25 consensus EPS. Valuations look fair now on FY25 basis and risk reward is balanced.

    Our preferred sectors are large-cap banks, industrial and real estate, power, autos, pharma, OMCs, gas, and capital markets. We remain underweight on consumer (staples and discretionary), metals, chemicals and small banks.

  • November 29, 2023 07:44

    Stock Market Live Updates: Vishnu Chemicals’ outlook revised to ‘CARE A-; Stable’ by CARE Ratings

    Vishnu Chemicals Limited, one of India’s leading speciality chemicals manufacturers and a leader in barium and chromium chemicals, has announced that CARE Rating has revised its outlook to ‘CARE A-; Stable’ for the company’s long term bank facilities and ‘CARE A2+’ to the short term bank facilities.

  • November 29, 2023 07:42

    Stock Market Live Updates: ZEEL partners with NASSCOM to forge AI solutions for India’s media & entertainment sector

    Zee Entertainment Enterprises Limited (ZEEL) has teamed with the National Association of Software and Service Companies (NASSCOM) to develop generative AI solutions for India’s burgeoning media and entertainment (M&E) sector.

  • November 29, 2023 07:40

    Stock Market Live Updates: Economic Calendar – 29.11.2023

    TENT EURO German Prelim CPI m/m (Expected: -0.1% versus Previous: 0.0%)

    19:00 U.S. Prelim GDP q/q (Expected: 5.0% versus Previous: 4.9%)

    20:35 U.S. BOE Gov Bailey Speaks

  • November 29, 2023 07:40

    Stock Market Live Updates: Major U.S. listed stocks result calendar 29.11.2023

    Dollar Tree, Inc. (Pre market) (Sector- Retail)

    Hormel Foods Corporation (Pre market) (Sector- FMCG)

    Salesforce, Inc. (Post market) (Sector- Technology)

    Synopsys, Inc. (Post market) (Sector- Technology)

    Pure Storage, Inc. (Post market) (Sector- Consumer Durables)

    Snowflake Inc. (Post market) (Sector- Technology)

    Okta, Inc. (Post market) (Sector- Technology)

    Five Below, Inc. (Post market) (Sector- Retail)

  • November 29, 2023 07:40

    Stock Market Live Updates: Recent Interview... As of 22:22 p.m. Tuesday 28 November 2023

    Bajaj Auto: Rajiv Bajaj, MD

    Hope To Launch A CNG Motorcycle In 2025: Rajiv Bajaj Exclusive

    https://www.youtube.com/watch?v=E9rIDquhDTE

    Fortis Health: Ashutosh Raghuvanshi, MD&CEO

    Intend To Pass On Benefits To Shareholders Of Fortis Malar

    https://www.youtube.com/watch?v=UJ49a_zAdM4

    IFGL Refractor: Kamal Sarda, CEO

    Our Performance Has Been Improving For The Past 4-5 Quarters: IFGL Refractories

    https://www.youtube.com/watch?v=W25FQEuZ_As

    Jindal Stainles: Anurag Mantri, Group CFO

    Jindal Stainless: Eye On Volume Growth Guidance Of 20% For FY24 & FY25

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

    J. K. Cement: Anuj Khandelwal, Business Head

    Clocked More Than 20% Vol Growth In H1FY24 & Demand Is Likely To Be Good In H2: JK Cement

    https://www.youtube.com/watch?v=Qyp8bsPQ9AA

    Macrotech Developers: Prashant Bindal, Chief Sales Officer

    Expect Warehousing Business To Grow Around 40%: Macrotech Developers

    https://www.youtube.com/watch?v=bv3lj_vNyRA

    Shriram Trans: Umesh Revankar, Managing Director

    Shriram Finance Growth Roadmap; Implications Of Tighter Lending Norms

    https://www.youtube.com/watch?v=2P3Ym4ueXpo

    Walchandnagar: Chirag Doshi, MD & CEO

    Walchandnagar Industries Fund Raised Via Warrant Issue At Rs 114 Cr

    https://www.youtube.com/watch?v=i7j07QgJQkA

    Equitas Small F: PN Vasudevan, MD

    Plan To Tighten Credit Filter & Lower Growth Rates After RBI Warning: Equitas SFB

    https://www.youtube.com/watch?v=K59kLRFR3cQ

    Hero Motocorp: Niranjan Gupta, CEO

    Plan To Reach 100 Premium Stores By June-end From 3 Stores Currently: Hero MotoCorp

    https://www.youtube.com/watch?v=_JhXQ-DtPKk

    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

  • November 29, 2023 07:39

    Stock Market Live Updates: Fund Flow Activity: 28 November 2023 (In Cr)

    Turnover : (NSE + BSE)

    Cash Volume: 81134.08 + 5849.14 Total : 86983.22

    F&O Volume: 514475.97 + 110513.97 Total : 624989.94

    Provisional Cash Rs. In Crs.

    FII/FPI: NET BUY: +783.82 

    (14474.29 - 13690.47) 

    DII: NET BUY: +1324.98 

    (8088.7 - 6763.72)

  • November 29, 2023 07:38

    Stock Market Live Updates: Exchanges ring the bell globally to mobilise for climate

    The World Federation of Exchanges, the global industry group for exchanges and CCPs, is mobilising the exchange industry for its inaugural Ring the Bell for Climate initiative. Over the next few weeks exchanges will come together to take steps to address climate change and sustainability issues.

    As the world grapples with the climate crisis, exchanges sit at the core of financial market, playing a vital role in creating the vehicles for capital to be deployed into sustainable development. Without the appropriate financing in place, the green transition cannot take place. Exchanges are taking pivotal steps to support the channelling of investments and financing into green initiatives, such as the agreement of the WFE Green Equity Principles, a global framework that individual exchanges can use to establish a ‘green’ offering for listed equities.

    This initiative will see a global network of exchanges around the world demonstrate their support for this cause by ringing the bell for climate. Some exchanges are also holding virtual bell ringing ceremonies, workshops and events this week to highlight new plans and targets for their own businesses. The WFE is convening stakeholders at COP28 with Dubai Financial Market, at Nasdaq Dubai MarketSite, where we will discuss the way forward.

  • November 29, 2023 07:37

    Stock Market Live Updates: ICRA reaffirms Panama Petrochem’s bank facility ratings as [ICRA]A+ (Stable) and [ICRA]A1+

    ICRA Limited has reaffirmed the ratings on bank facilities of Panama Petrochem as under:

    Reaffirmed the rating, on fund based bank facilities to [ICRA]A+ (Stable)

    Reaffirmed the rating, on non-fund based bank facilities to [ICRA]A1+

  • November 29, 2023 07:15

    Stock Recommendations: Stock to buy today: Tata Motors (₹697.60): BUY

    The short-term outlook is bullish for Tata Motors. After moving broadly in a sideways range since July this year, the stock price has resumed its overall uptrend. The 11 per cent surge this month marks the end of the sideways consolidation. 

  • November 29, 2023 07:14

    Day trading guide for November 29, 2023: Intraday supports, resistances for Nifty50 stocks

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

  • November 29, 2023 07:12

    Stock Recommendations: Nykaa (Accumulate)

    FSN E-Commerce Ventures (Nykaa) is on track to post healthy gross merchandise value (GMV) growth of 27 per cent y-o-y in Q3-FY24 in its online Beauty & Personal Care (BPC) segment, following: the positive impact of festival & wedding seasons, and the surge in November Pink Sale (about 30-35 per cent higher sales y-o-y). 

    Basis above, Nykaa BPC could report GMV growth of 24.8 per cent for 9M-FY24, which is largely in line with our annual estimates of 25 per cent in FY24. Increasing number of transacting users would continue to be a growth driver for Nykaa online BPC GMV, as average order value (AOV) will see growth of a mere 2-3 per cent y-o-y, and frequency-led growth too would be low, as most brands (D2C and large brands) make high volume packages (500ml and above). 

  • November 29, 2023 07:11

    Stock Recommendations: JSW Infra (Buy)

    JSW Infrastructure, part of the ₹23 billion JSW Group, is India’s 2nd largest commercial port operator with 158 tpa (mnt) handling capacity and fastest-growing port (basis volume CAGR in FY20-23). 

    In addition to operating nine ports/terminals in India, JSWIL operates two port terminals under O&M arrangement and recently acquired a liquid storage terminal in Fujairah (UAE). This coupled with acquisition of three terminals in FY21, bid for three major port terminal privatisation tenders and recent announcement on greenfield port (Keni) and potential greenfield port in Jatadhar (Odisha) demonstrates its intent to achieve its guidance of sustaining past volume growth performance (over 20 per cent CAGR since inception) over the long term, in our view. 

  • November 29, 2023 07:10

    Stocks in Focus: Adani group stocks add ₹1-lakh-cr in m-cap on ‘favourable SC proceedings’

    Riding on a favourable Supreme Court proceedings in the Hindenburg case last Friday, all the Adani Group companies gained ₹1 lakh crore in market capitalisation to ₹11.3 lakh crore from ₹10.26 lakh crore on Friday after most stocks rallied between 5-20 per cent intra-day.

    The Adani Group’s market capitalisation had surged by over $15 billion with group stocks rallying on short-covering and bullish sentiments. Despite the wide-spread rally, market-capitalisation of billionaire Gautam Adani-controlled companies are trading below ₹18 lakh crore registered last December before the scathing US short-seller Hindenburg report hit the market in January.

  • November 29, 2023 07:09

    Stock Market Live Updates: Actively managed equity funds beat benchmark on widespread market rally

    Nearly 70-80 per cent of actively managed equity funds have outperformed their benchmarks over 10 years, while the share of equity funds beating benchmarks over five years and three years has improved to 55-60 per cent and 45-50 per cent

  • November 29, 2023 07:03

    Stock Market Live Updates: Mixed Asian market performance: Japan’s stocks dip with strengthening Yen

    Asian markets experienced a predominantly negative trend this Wednesday. 

    In Japan, stocks commenced on a downward trajectory due to the yen’s strength against the dollar, exerting pressure on the market. The Nikkei 225 index declined by 0.40 per cent (135.06 points) to reach 33,273.33 in early trading, while the broader Topix index slipped by 0.49 per cent (11.61 points) to 2,365.10. Similarly, South Korea’s KOSPI fell by 0.32 per cent (8.08 points) to 2,513.68, contrasting with Australia’s S&P ASX 200 index, which gained 0.42 per cent (29.50 points) and reached 7,044.70.

    During the initial Asian trading, the dollar stood at 146.78 yen.

  • November 29, 2023 07:02

    Stock Market Live Updates: Conflicting Fed remarks keep U.S. stocks afloat despite intraday volatility

    U.S. stocks ended with modest gains on Tuesday as investors parsed conflicting remarks from Federal Reserve officials, with upbeat consumer data providing some lift.

    All three major U.S. stock indexes lost momentum as the session progressed, but ended the range-bound session in the green.

    Market participants are now scrutinizing remarks from monetary policymakers ahead of next month’s meeting of the Federal Open Market Committee (FOMC).

    The Dow Jones Industrial Average rose 83.51 points, or 0.24%, to 35,416.98, the S&P 500 gained 4.46 points, or 0.10%, at 4,554.89 and the Nasdaq Composite added 40.73 points, or 0.29%, at 14,281.76. - Reuters

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