Stock Market Today: Nifty Ends At Over Two-Month High; FPIs Stay Net Buyers

Overseas investors stay net buyers for the third consecutive sessions on Tuesday.

Foreign portfolio investors bought stocks worth Rs 783.82 crore, according to provisional data from the National Stock Exchange.

Domestic institutional investors continued as buyers and purchased stocks worth Rs 1,324.98 crore, the NSE data showed.

Foreign institutions have been net buyers of Rs 98,872 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.

The yield on the 10-year bond closed flat at 7.28% on Tuesday.

Source: Bloomberg

• The local currency strengthened about 4 paise to close at 83.34 against the U.S dollar on Tuesday.

• It closed at 83.38 on Friday.

Source: Bloomberg

India's benchmark stock indices ended Tuesday higher after a day's break on Monday for Guru Nanak Jayanti. The indices were mostly mixed through the day before recovering as Adani group company stocks added as much as Rs 1,31,907 crore in investor wealth intraday, the biggest single-day surge since April 11, 2022.

Metal and energy sectors gained, while I.T. sector recovered. Healthcare stocks were under pressure on Tuesday.

NSE Nifty 50 Index ended just below the 19,900 mark, at its highest level since Sept. 20, whereas Sensex closed above 66,200 level, the highest close since Oct. 17. The S&P BSE Sensex Index closed up 204.16 points, or 0.3%, at 66174.20 while the NSE Nifty 50 was 95 points or 0.48% higher at 19,889.70.

The next leg of positive momentum will be only above 19,900 levels and on the downside the support is at 19,550-19,600 levels, said Vikas Jain, senior research analyst at Reliance Securities.

"Technically, after a promising uptrend, the market is seeing range-bound activity at higher levels," said Shrikant Chouhan – head equity research, Kotak Securities Ltd.

The market construct is turning favourable aided by global and domestic factors, according to Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. "Globally there is tailwind from the U.S. market with S&P 500 up by 8.7% so far this month, which, in turn, is supported by falling US bond yields. Domestically, macro indicators suggest strong growth momentum in the economy. Record order inflows for capital goods companies and robust credit growth are strong indicators of the growth momentum in the economy," he added.

Adani Enterprises Ltd., Tata Motors Ltd., Axis Bank Ltd., Adani Ports and Special Economic Zone Ltd., and Bharti Airtel Ltd. were positively adding to the change in the Nifty 50 Index.

Whereas, ICICI Bank Ltd., HDFC Bank Ltd., ITC Ltd., Larsen & Toubro Ltd. and Sun Pharmaceutical Industries Ltd. were negatively contributing to the change.

"This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally," said Dr. V K Vijayakumar.

The broader markets ended higher the S&P BSE MidCap Index was down 0.30%, whereas S&P BSE SmallCap Index was 0.06% higher.

Fifteen out of 20 sectors compiled by BSE advanced, while five sectors declined. S&P BSE Utilities and S&P Power rose the most.

The market breadth was skewed in the favour of the buyers. About 1,987 stocks rose, 1,806 declined, while 179 remained unchanged on the BSE.

The only unknown now is the outcome of the state election results, as per Geojit Financial Services. "The exit polls on Thursday are likely to give indications of the election outcomes and its impact on the crucial General election in 2024. The U.S. inflation data on Thursday and the Powell speech on Friday will influence global market trends, said Geojit's Dr. V K Vijayakumar.

• 35 lakh shares changed hands in a large trade

• 0.23% equity changed hands at Rs 196.65 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Tata Power Estimates Rs. 60,000 Crore Capex By FY27

• Around 45% of the capex to be in renewable energy between FY24-27

• To have 18GW power capacity in next 24 months.

Sources to BQ Prime

• Launches Heineken Silver Draught Beer.

• Initially, the product will be available in premium bars and pubs across Mumbai, Thane and Pune.

• It plans to expand in Karnataka as well by the  end of March 2024.

Source: Company

• Adani Group stocks added as much as Rs 1,31,907 crore in investor wealth, taking their total market capitalisation to Rs 11.58 lakh crore, intraday, the highest single day addition since April 11, 2022.

• As of 12:50 p.m., the shares added Rs 108,2528 crore in market value taking the capitalisation to Rs 11.35 lakh crore.

• 0.07% equity changed hands at Rs 412.40 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Approved issuance of Rs 1,000 crore, with a green shoe option of Rs 4,000 crore

• Final credit rating at AAA/Stable by CRISIL and INDIA Ratings

• Bids in multiple of Rs 1 lakh invited by Nov. 30, 2023

Source: People in the know

India's benchmark stock indices opened higher and diverged in trade through midday on Tuesday. While Nifty 50 was up led by Adani group socks, Sensex was trading marginally lower. Metal and energy sectors rose the most, whereas I.T. and healthcare were under pressure.

NSE Nifty 50 Index was above the 19,800 mark, whereas Sensex was hovering around the 66,000 level.

"The Nifty 50 and Sensex commenced the day on a positive note. Today's opening for Nifty at 19,844.65, up from the previous closing value of 19,794.70, reflects the overall optimistic market sentiment. Similarly, Sensex, which concluded last Friday at 65,970.04, saw a slight gain with today's opening at 66,063.72," according to Shrey Jain, founder and chief executive officer, SAS Online - India's Deep Discount Broker.

As of 12:01 p.m., the S&P BSE Sensex Index was down 12 points, or 0.14%, at 65,966.40 while the NSE Nifty 50 was 33 points or 0.16% higher at 19,827.30.

"Technically, after a promising uptrend, the market is seeing range-bound activity at higher levels," said Shrikant Chouhan – head equity research, Kotak Securities Ltd.

"Crossing 19,875 and 66,250 could act as a technical breakout, which may pull the market to 19,950-20,050 and 66,500-66,800. On the other hand, below 19,875 and 66,250 we may see a quick intraday correction till 19,800 and after that, it may gradually fall further towards 19,700-19,675 and 65,500-65,400 levels. Contra traders can place a long bet near 19,700 and 65,400 with a strict 50/100 points stop loss," he added.

Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., Tata Motors Ltd., Titan Co., and Cipla Ltd. were positively adding to the change in the Nifty 50 Index.

Whereas, Reliance Industries Ltd., ICICI Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., and ITC Ltd. were negatively contributing to the change.

The broader markets were mixed; the S&P BSE MidCap Index was down 0.07%, whereas S&P BSE SmallCap Index was 0.12% higher.

Twelve out of 20 sectors compiled by BSE advanced, while eight declined. S&P BSE Utilities and S&P Power rose the most.

The market breadth was skewed in the favour of the buyers. About 1,942 stocks rose, 1,681 declined, while 208 remained unchanged on the BSE.

The scrip rose as much as 1.4% to Rs 3,445.60 apiece, its highest level. It pared gains to trade 1.2% higher at Rs 3,440 apiece, as of 11:46 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.

It has risen 32.4% on a year-to-date basis. The relative strength index was at 68.18.

Out of 33 analysts tracking the company, 22 maintain a 'buy' rating, 7 recommend a 'hold,' and 4 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 1%.

Tata Motors shares rose over 2% on Tuesday as the company is considering a hike in the prices of its passenger and electric vehicles from Jan. 2024.

A Tata Motors spokesperson while speaking to PTI said that the company is considering a price hike for the next year. However, the auto major will give the details of the hike and its impact in a few weeks.

If the company goes ahead with the hike, then it will be joining other auto majors like Maruti Suzuki India and Audi that have also planned to hike the prices of their vehicles in Jan. 2024.

Additionally, the auto major's subsidiary, Tata Technologies finalised the offer price at Rs 500 per equity share of face value of Rs 2 each on Saturday, Nov. 25. The scrip has risen 2.2% since the launch of the IPO over the last week.

Tata Motors shares rose as much as 2.57% to Rs 691 apiece to reach its life-time high. It was trading 2.27% higher at Rs 689 apiece, as of 11:26 a.m. This compares to a 0.11% advance in the NSE Nifty 50 Index.

It has risen 77.73% on a year-to-date basis. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 67.13.

Out of 35 analysts tracking the company, 28 maintain a 'buy' rating, 3 recommend a 'hold,' and 4 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 59.7%.

• Adani Energy at 15.35x of its 30 day average

• Adani Total Gas at 14.86x of its 30 day average

• Adani Green Energy at 8.6x of its 30 day average

• New India Assurance at 5.92x of its 30 day average

• Indoco Remedies at 5.61x of its 30 day average

• Gujarat Pipavav Port at 5.13x of its 30 day average

• Adani Group stocks added Rs 1.03 lakh crore in investor wealth, taking their total market capitalisation to Rs 11.30 lakh crore, the highest level since Sept. 11, 2023, intraday.

• As of 11:21 a.m., the shares added Rs 99,979 crore in market value taking the capitalisation to Rs 11.24 lakh crore.

• 20.9 lakh shares changed hands in a large trade

• 0.03% equity changed hands at Rs 124.25 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Brigade Enterprises

• Tata Motors

• Titan

Stocks At 52-Week Highs

• The New India Assurance Company

• Hindustan Petroleum Corp

• IFB Industries

• Max Financial Services

• General Insurance Corporation of India

BSE Ltd.'s earnings may jump 150% in the ongoing fiscal and and double over two years through March 2026 on strong growth and higher margins, according to Jefferies.

The research firm initiated its coverage on Asia's oldest exchange with a 'buy' and target price of Rs 2,700, implying an upside potential of 24%.

Indian stock exchanges are benefiting from healthy GDP growth, rising market capitalisation/GDP ratio (India at 100% against 130-200% for peers), financialisation of savings and rising equity market participation, Jefferies said in a Nov. 27 note. "Moreover, exchanges are insulated from the risks of compression in fees, unlike the debate between active and passive AMCs as well as discount and full-service brokers."

Over the past five years, a surge in investor participation and sachetisation has lifted derivatives volumes by 10 times, the research firm said.

While NSE has been dominating the segment with a 100% market share, BSE's recent relaunch of options has found success as it addressed the market gaps for sachet derivatives. Within six months, that lifted its turnover market share to 14% from less than 0.5%.

"Under the new management, BSE has seen strong back-end execution of new products, and we believe the company's changing profile with higher market share can drive network effects in other products and open up newer monetisation avenues," the note said.

"Over FY23–26E, we expect BSE to deliver a revenue CAGR of 45% and, aided by margin expansion, a higher earnings CAGR of more than 70%."

The scrip rose as much as 8.27% 3,169.55 to, the highest level since its listing on exchanges on Mar 8, 2012. It pared some gains to trade 7.04% higher at 3,133.40, as of 10:26 a.m. This compares to a 0.06% advance in the NSE Nifty 50 Index.

It has risen 102.09% on a year-to-date basis. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 78.56, which implied shares of the Multi Commodity Exchange India is overbought.

Out of 11 analysts tracking the company, 6 maintain a 'buy' rating, 2 recommend a 'hold,' and 3 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 101.4%.

Shares of Macrotech Developers Ltd. fell after hitting record high on Tuesday.

The stock jumped after its management said it plans to trim net debt to below Rs 6,000 crore by March.

"We have reduced our net debt by about Rs 540 crore in the second quarter of this fiscal to Rs 6,730 crore. Our target would be to reduce debt to below Rs 6,000 crore by end of this fiscal year," Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha told PTI.

Shares of the company rose as much as 2.9% to Rs 917 apiece, its highest level, before falling 1.5% to Rs 889.95 apiece as of 10:05 a.m. This compares to a 0.1% advance in the NSE Nifty 50 Index.

It has risen 63% on a year-to-date basis. Total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 67.9.

Out of 18 analysts tracking the company, 11 maintain a 'buy' rating, 5 recommend a 'hold,' and 2 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 6.6%.

• Adani Group stocks added Rs 75,621 crore in investor wealth, taking their total market capitalisation to Rs 11 lakh crore, intraday.

• As of 10:05 a.m., the shares added Rs 67,013 crore in market value taking the capitalisation to Rs 10.91 lakh crore.

Shares of Netweb technologies soared 10% after it announced today that it has signed a pact with Nvidia, a U.S. based technology company to be its manufacturing partner.

Netweb Technologies will build 10 server variation under its Tyrone range of Artificial Intelligence systems meant for a wide range of AI, and high performance computing, and super computing application, the company said in a press release.

Netweb's AI system, with NVIDIA MGX, a modular reference design, will target functions of high performance of computing, data science, large language models, edge computing, enterprise AI, according the press release.

The scrip rose 10.0% to Rs 892.40 apiece, the highest level since Oct 19. It pared gains to trade 7.60% higher at Rs 872.95 apiece, as of 09:39 a.m. This compares to a 0.16% advance in the NSE Nifty 50 Index.

Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 65.88.

Shares of DB Realty Ltd. rose over 3% after it became net debt free on a standalone basis, as per its exchange filing. The promoter group sold 1.46 crore shares reflecting a 2.91% stake in the company. It raised Rs 301 crore by sale of the said shares.

A substantial portion of the proceeds from the sale of the said shares was infused back by the promoters into the company for repayment of related party transactions and unsecured interest free loan, said its exchange filing.

"The funds so infused has enabled the company to retire its entire debt and therefore it shall be debt free on a standalone basis on or before Nov. 30, 2023," the filing said.

Additionally, former BJP MP, Kirit Somaiya tweeted that he has filed a public interest litigation in the Bombay High Court wherein he claimed that the erstwhile government and Mumbai Municipal Corporation awarded four contracts to DBS Realty and the Pune-based Chordia Group of Companies, to construct tenements for project affected people in Mumbai.

DBS Realty, is a partnership firm in which the DB Realty Ltd. has a minority 1/3 partnership share, with 2/3 partnership interest owned by other partners. It was awarded one such tender for construction of 4,000 PAP tenements at Chadivali.

However, the award of the tender to DBS Realty was cancelled by the corporation in the month of November 2023 and the challenge to such cancellation by DBS Realty is in process, the company said in its exchange filing denying all allegations as contained in the post.

The scrip rose as much as 3.42% to Rs 211.40 apiece, the highest level since Nov. 24. It was trading 1.27% higher at Rs 207 apiece, as of 9:54 a.m. which compares to a 0.13% advance in the NSE Nifty 50 Index.

It has risen 121.57% on a year-to-date basis. The total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 64. Bloomberg covers no analyst tracking the company.

• About 16.4 lakh shares or 0.02% equity changed hands in a pre-market large trade.

• Buyers and sellers not known immediately.

Source: Bloomberg

• Nifty Smallcap 250 up 0.63% ; hits new life high at 13080.50

• Nifty Midcap 150 up 0.28%; hits new life high at 15742.65

• Nifty PSE up 0.7%, hits fresh record high at 6587

• Nifty Auto up 0.2%, hits fresh record high at 17100

• Nifty Commodities up 0.6%, hits fresh record high at 6714

The broader markets outperformed larger peers; the S&P BSE MidCap Index was up 0.22%, whereas S&P BSE SmallCap Index was 0.43% higher.

Nineteen out of 20 sectors compiled by BSE advanced, while S&P BSE Telecommunication declined. S&P BSE Utilities and S&P Oil & Gas rose the most.

The market breadth was skewed in the favour of the buyers. About 1,954 stocks rose, 778 declined, while 164 remained unchanged on the BSE.

India's benchmark stock indices opened higher on Monday following a two-day fall on Friday. The indices ended last week higher for the fourth time on Friday, the longest stretch of gains since July 21, 2023.

At pre-open, the S&P BSE Sensex Index was up 94 points, or 0.14%, at 66,064.05 while the NSE Nifty 50 was 50 points or 0.25% higher at 19,844.65.

"Technically, after a promising uptrend, the market is seeing range-bound activity at higher levels," said Shrikant Chouhan – head equity research, Kotak Securities Ltd.

"Crossing 19,875 and 66,250 could act as a technical breakout, which may pull the market to 19,950-20,050 and 66,500-66,800. On the other hand, below 19,875 and 66,250 we may see a quick intraday correction till 19,800 and after that, it may gradually fall further towards 19,700-19,675 and 65,500-65,400 levels. Contra traders can place a long bet near 19,700 and 65,400 with a strict 50/100 points stop loss," he added.

Asian indices were mixed, tracking overnight losses in their Wall Street peers and a decline in crude oil prices on the expectation of further production cuts by the Organisation of Petroleum Exporting Countries.

Japanese, Hong Kong and mainland shares fell, wherea South Korean markets rose in trade.

U.S. Treasuries were under pressure in a holiday-shortened session, with this month’s sizzling rally in global bonds showing signs of stalling, Bloomberg reported.

The S&P 500 index and Nasdaq 100 fell by 0.20% and 0.07%, respectively, on Monday. The Dow Jones Industrial Average fell by 0.16%.

• At pre-open, the S&P BSE Sensex Index was up 94 points, or 0.14%, at 66,064.05 while the NSE Nifty 50 was 50 points or 0.25% higher at 19,844.65.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.26% on Tuesday.

• It closed at 7.27% on Friday.

Source: Bloomberg

• The local currency strengthened 2 paise to open at 83.36 against the U.S dollar on Tuesday.

• It closed at 83.38 on Friday.

Source: Bloomberg

• Co shall not pursue Sustainable Energy Solutions/New Energy business.

• Transfer stake in Welspun New Energy to founders.

Source: Exchange Filing

• In pact to be manufacturing partner for Nvidia.

• To produce more than 10 server variations under Tyrone range of A-I systems.

Source: Exchange Filing

• U.S. Dollar Index at 103.1

• U.S. 10-year bond yield at 4.40%

• Brent crude up 0.46% at $80.35 per barrel

• Nymex crude up 0.51% at $75.24 per barrel

• GIFT Nifty was up 31 or 0.16% at 19,887.5 as of 8:10 a.m.

• Bitcoin was up 0.29% at $37,141.73

• Price band revised from 20% to 10%: Honasa Consumer

• Ex/record date Interim dividend: Talbros Automotive Components

• Ex/record date Right Issue: SEPC  

• Move into short-term ASM framework: Bliss GVS Pharma, Honasa Consumer, Syncom Formulations.

• Move out of short-term ASM framework: Sharda Motor Industries

• ISMT: Promoter group Kirloskar Industries bought 73,473 equity shares on Nov 23, while Promoter group Alka Mehta sold 73,473 equity shares on Nov 23.

• 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. 

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

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

• One 97 Communications: BH International Holdings sold 1.5 crore shares (2.46%) at 877.29 apiece, while Copthall Mauritius Investment and Ghisallo Master Fund LP bought 75.75 lakh shares (1.19%) and 42.75 lakh shares (0.67%), respectively, at 877.2 apiece.

• Hardwyn India: Dream Achiever Consultancy services private sold 21.48 lakh shares (0.61%) at 39.05 apiece, while Wajid Ahmed bought 30 lakh shares (0.85%) at 39.4 apiece.

• Home First Finance: Smallcap World Fund bought 23.95 lakh shares (2.71%) at 871 apiece.  Fidelity Global Investment Fund Asia Equity Fund Bought 4.7 lakh shares (0.54%) at 870 apiece. True North Fund V LLP Sold 17.88 lakh shares (2.02%) at 871 apiece. Orange Clove Investments B.V sold 14.9 lakh shares (1.69%) at 871 apiece.  Aether Mauritius sold 11.92 lakh shares (1.35%) at 871 apiece. True North Fund V LLP sold 16.72 lakh shares (1.89%) at 870 apiece. Orange clove investments BV sold 13.93 lakh shares (1.58%) at 870 apiece. Aether Mauritius sold 11.14 lakh shares (1.26%) at 870 apiece. 

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

• Tata Technologies: The IPO was subscribed 69.43 times on day three. The bids were led by institutional investors (203.41 times), non-institutional investors (62.11 times), reserved portion for shareholder (29.20 times), retail investors (16.5 Times), and reserve portion for employees (3.70 times).

• Gandhar oil refinery: The IPO was subscribed 15.27 times on day two. The bids were led by non-institutional investors (26.24 times), Retail investors (17.27 Times), Institutional Investors (3.14 times). 

• Fedbank Financials: The IPO was subscribed 0.90 times on day two. The bids were led by Retail investors (1.26 times), Portion Reserved for employees (0.78 times), Institutional investors (0.56 times) and non-institutional investors (0.52 times). 

• Flair Writing Industries: The IPO was subscribed 6.12 times on day two. The bids were led by non-institutional investors (10.05 times), Retail investors (7.16 times) and by Institutional Investors (1.36 times). 

• IRB Infrastructure Developers: The company's SPV, IRB Lalitpur Tollway Pvt., signed a concession agreement with NHAI for the Lalitpur Lakhnadon TOT Project in Madhya Pradesh. The project will pay an upfront of Rs 4,428 crores to the NHAI for tolling and O&M of a 316 km stretch of NH44 for a revenue-linked concession period of 20 years.

• SJVN: The company’s first unit of 30 MW capacity for the 60 MW Naitwar Mori hydroelectric project in Uttarakhand has achieved the commercial operation date, and now its total generation capacity is 2,122 MW from 2,091.50 MW.

• Eicher Motors: The company launched a new Himalayan at an introductory price of Rs 2.69 to 2.84 lakh, ex-showroom India, and launched the Royal Enfield Shotgun 650, which is available at an ex-showroom price of Rs 4,25,000.

• KPI Green Energy: The company’s subsidiary, M/s. Sun Drops Energeia Pvt., got an order of 4.66 MW for solar projects from M/s GVM Woven and M/s Radhika Silk Mills.

• Fortis Healthcare: The company's subsidiaries entered into definitive agreements with MGM Healthcare Pvt. for the sale and divestment of Fortis Malar Hospital and related assets to MGM for an aggregate consideration of Rs 128 crore.

• PB Fintech: The company has made an investment of Rs 350 crore in Policy Bazaar Insurance Brokers Pvt., a wholly owned subsidiary of the company.

• Bandhan Bank: The lender's board approved the re-appointment of Chandra Shekhar Ghosh as the Managing Director and Chief Executive Officer of the bank for a period of three years, with effect from July 10, 2024, subject to approval of the Reserve Bank of India.

• Jindal Stainless: The company’s board approved the proposal to liquidate their subsidiary, PT Jindal Stainless Indonesia.

• Indraprastha Gas: The company announced its association with IndusInd Bank to facilitate the acceptance of the digital rupee, which is the Central Bank Digital Currency launched by the Reserve Bank of India in 2022.

• Syrma SGS Technology: The company incorporated a wholly-owned subsidiary company named Syrma Semicon Pvt.

• Welspun India: The company announced its participation in the United Nations Global Compact (UNGC) initiative, aligning its operations and strategies with the Ten Principles of UNGC.

• Jay Bharat Maruti: The auto component manufacturer and Tier 1 supplier to Maruti Suzuki India laid the foundation stone for its new plant in Kharkhoda, Sonipat, Haryana, on Thursday.

• Bharti Airtel: The Department of Telecommunications, Uttar Pradesh East, imposed a penalty of Rs 1,86,000 for an alleged violation of subscriber verification norms.

• CMS Info Systems: The company’s Chief Technology Officer, Rohit Kilam, resigned from the position w.e.f. Nov. 24, 2023.

• Sterlite Technologies: The Supreme Court dismissed a plea filed by the company against ShinEtsu Chemical. The plea relates to the recovery by ShinEtsu for not procuring the agreed quantities at the agreed price.

• Bajaj Holdings: The company increased its stake in Sanofi India from 0.0434% to 0.1129%.

• Shivalik Bimetal Controls: The company signed a Memorandum of Understanding with Metalor Technologies International SA (Swiss Corporation) for setting up a joint venture in India to manufacture and sell electrical contacts.

• Vascon Engineers: The company will consider the proposal of raising funds through the issue of equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institution placement, or a preferential issue, on Nov. 30 at its board meeting.

• Lupin: The pharmaceutical 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 43,43,798 for the tax period July 2017 to March 2021. 

• Tilaknagar Industries: Promoter Mr. Amit Dahanukar sold 30 lakh (1.56%) equity shares of the company for the purpose of releasing a pledge on the equity shares of the promoters of the Company. 

• 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 the regulations in respect of the composition of the board of directors due to the insufficient number of independent Directors.  

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

• JSW Steel: The steel manufacturer has completed 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 got 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 and fines price at 4,660 per tonne w.e.f Nov. 23. 

• Indian Hotels: The Company has made an investment of Rs 55 crore in Genness Hospitality Private Limited and 35 crore in Qurio Hospitality Private Limited by way of subscription to Rights Issues. 

• Prestige Estates: The company has launched a residential project called “Prestige Glenbrook” in Bangalore, which comprises 285 apartments across two high-rise towers with a developable area of 0.7 million sft and a revenue potential of Rs. 550 Crores. 

• 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 has entered into a tripartite agreement with KFin Technologies Limited and Link Intime India Pvt., and a signed copy of the same has been received by the company.  

• Samvardhana Motherson International: The National Company Law Tribunal has given a 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 Limited and their respective shareholders and creditors. 

• 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 has given the nod for the scheme of amalgamation between Anup Heavy Engineering Limited and Anup Engineering Limited. 

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

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

Asian indices were mixed, tracking overnight losses in their Wall Street peers and a decline in crude oil prices on the expectation of further production cuts by the Organisation of Petroleum Exporting Countries.

U.S. Treasuries were under pressure in a holiday-shortened session, with this month’s sizzling rally in global bonds showing signs of stalling, Bloomberg reported.

The S&P 500 index and Nasdaq 100 fell by 0.20% and 0.07%, respectively, on Monday. The Dow Jones Industrial Average fell by 0.16%.

Oil prices declined as oversupply ahead of the OPEC meeting on Thursday raised fears the oil cartel may extend its production cut further.

The yield on the 10-year U.S. bond was trading at 4.40%, and Bitcoin was above $37,100. Brent crude was above $80 a barrel, whereas WTI crude was above $75 a barrel.

The GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 31 or 0.16% at 19,887.5 as of 8:10 a.m.

India's benchmark stock indices ended lower for the second consecutive day on Friday, led by losses in Tata Consultancy Services Ltd., Infosys Ltd., and ITC Ltd.

The pharmaceutical and healthcare sectors advanced, but information technology was under pressure. The S&P BSE Sensex closed 48 points, or 0.07%, lower at 65,970.04, while the NSE Nifty 50 fell 7 points, or 0.04%, to end at 19,794.70.

Overseas investors in Indian equities stayed net buyers for the second day in a row on Friday. Foreign portfolio investors mopped up stocks worth Rs 2,625.2 crore, and domestic institutional investors purchased stocks worth Rs 134.5 crore, the NSE data showed.

The Indian rupee weakened 4 paise to close at an all-time weakest level of 83.38 against the U.S. dollar on Friday.