Stocks To Watch: Bajaj Finance, Adani Power, L&T, IndusInd Bank, Exide, Delhivery, SBI Card, Kalyan Jewellers

U.S. stocks wavered on Friday after a $2.7 trillion rally in November that was fueled by bets the Federal Reserve will end its hiking cycle to prevent an economic recession. The dollar erased its 2023 advance, reports Bloomberg.

The S&P 500 index and Nasdaq 100 fell by 0.01% and 0.25%, respectively, as on 10:43 p.m. New York time. The Dow Jones Industrial Average declined by 0.08%.

Brent crude was trading 2.71% higher at $79.52 a barrel. Gold also gained 0.10% to trade at $1,982.95 an ounce.

India's benchmark stock indices swung between gains and losses through Friday, following a mixed U.S. close on Thursday. Banks, NBFCs and energy sectors dragged, whereas fast-moving consumer goods and autos rose.

The Nifty Bank and Nifty Financial Services constituents took a hit on Friday after the RBI's action on rising consumer loans worried investors.

The S&P BSE Sensex closed 188 points down, or 0.28%, at 65,794.73, while the NSE Nifty 50 ended 33 points, or 0.17%, lower at 19,731.80.

Overseas investors turned net sellers on Friday after being net buyers over the last two sessions. Foreign portfolio investors offloaded stocks worth Rs 477.8 crore, while domestic institutional investors—who have been net buyers since Oct. 14—also turned sellers and sold equities worth Rs 565.5 crore, the NSE data showed.

The Indian rupee weakened 3 paise to close at 83.27 against the U.S dollar on Friday.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

• Jio Financial Services: Sethuraman Kandasamy, Jagannatha Kumar Venkata Gollapalli and Jayashri Rajesh resigns as Directors effective Nov. 17, 2023

• NBCC: Inks MoU with ICAI for planning, designing and execution of buildings and renovation work at various locations in India.

• Kaynes Technology: IPO lock-in ends and 2.53 crore shares become eligible for trade. Meanwhile, the board approved raising Rs 1,400 crore.

• Gland Pharma: IPO lock-in ends and 3.27 crore shares become eligible for trade.

• Vedanta: Crisil Ratings has downgraded its ratings on the long-term bank facilities and debt instruments of the Company to ‘CRISIL AA-’ from ‘CRISIL AA’. Crisil placed these ratings on ‘Rating Watch with Developing Implications’ from ‘Rating Watch with Negative Implications’. It also received a GST demand notice for Rs 1.39 crore along with applicable interest. Further, a penalty of 10% of the demand issued may be leviable, if the original demand is not discharged by the company.

• Maruti Suzuki: Shareholders approved the acquisition of Suzuki Motor Gujarat manufacturing facility through preferential allotment of equity shares, with 98.91% votes in favour.

• Zen Technologies: The company won an export order worth $5.12 million (around Rs 42 crore), including simulators, from an unnamed friendly nation.

• Sudarshan Chemical Industries: The company launched two complex inorganic colored pigments for plastics—Sudatherm Cobalt Blue 6421K and Sudatherm Cobalt Green 6451K—for domestic and international markets.

• Oberoi Realty: The company executed an agreement for sale with Ireo Residences Co. and others for acquiring a 14.8-acre land parcel at Sector 58, Gurugram, Haryana, for Rs 597 crore.

• IT Hardware Makers: Ministry of Electronics of Information Technology granted approval to 27 companies under the PLI scheme 2.0 for IT hardware manufacturing

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

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

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

• M K Proteins: Sanjay kumar Tikamchand Bucha bought 6.69 lakh shares (5.35%) at Rs 86.16 apiece.

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

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

• Fiem Industries: SL Corporation sold 98,275 shares (0.7%) at Rs 1907.56 apiece.

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

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

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

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

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

Ex/record date interim dividend: Anupam Rasayan India, Aurobindo Pharma, Balrampur Chini, Cochin shipyard, Dolat Algotech, GMM Pfaudler, Kaveri Seed, Mazagon Dock Shipbuilders.

Ex/r ecord date buyback: Atul.

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

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

• GMM Pfaudler: To meet investors and analysts on Nov. 24

• Syngene International: To meet investors and analysts on Nov. 24.

• Eclerx: To meet investors and analysts on Nov. 21.

• Polycab: To meet investors and analysts on Nov. 22.

• Welspun Enterprises: To meet investors and analysts on Nov. 22 and 24.

• Elecon Engineering: To meet investors and analysts on Nov. 24.

• Metro Brands: To meet investors and analysts on Dec. 5.

• Usha Martin: To meet investors and analysts on Nov. 23 and 24.

• Chalet Hotels-To meet analysts on Nov. 22.

• HDFC Life: To meet investors and analysts on Nov. 24.

• Firstsource solutions: To meet analysts and investors on Nov. 21.

• Seamec: To meet analysts and investors from Nov. 22 to 23.

• VRL Logistics: To meet analysts and investor on Nov. 20, 22 and 23.

• Zaggle Prepaid Ocean Services: To meet analysts and investors on Nov. 22.

• Nifty November futures fell 0.13% at 19,803, at a premium of 71.2 points.

• Nifty November futures open interest fell by 2.70% by 5,955 shares.

• Nifty Bank November futures fell 1.37% to 43,688.25, at a premium of 104.3 points.

• Nifty Bank November futures open interest rose by 7.41% by 10522 shares.

• Nifty Options Nov. 23 Expiry: Maximum call open interest at 19,900 and maximum put open interest at 19,700.

• Nifty Bank Options Nov. 22 Expiry: Maximum call open interest at 46000 and maximum put open interest at 42,000.

• Securities in the ban period: Chambal Fertilizers and Chemicals, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, MCX, RBL Bank, Zee Entertainment.

Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.