Stock Market Today: All You Need To Know Going Into Trade On Nov. 24

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

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Global stocks headed for the highest level in more than two months on Thursday after Federal Reserve meeting minutes showed support for tapering interest-rate increases.

Crude dropped in anticipation of a higher-than-expected price cap on Russian oil and a rising in U.S. product stockpiles. Gold rose 0.3%, while Bitcoin rose 1.6% to trade near $16,400-level.

Domestic benchmarks indices maintained their upward movement for a second day even after paring gains from early trade. The rise in banking, metals, and oil and gas stocks were offset by decline in information technology and FMCG stocks.

Rupee dropped against the U.S. dollar to close at the day’s low, a day after it closed higher.

At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.25% to 18,300.

Stock Market Today: All You Need To Know Going Into Trade On Nov. 24
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Stocks To Watch

  • Biocon: The company entered a semi-exclusive partnership agreement with European pharmaceutical company Zentiva for the commercialisation of its vertically integrated, complex formulation, Liraglutide, a drug-device combination for the treatment and management of type 2 diabetes and obesity. The company has also issued commercial papers worth Rs 2,250 crore on private placement basis at a coupon of 7.75%.

  • Tamilnad Mercantile Bank: The bank has entered into corporate agency agreement with Cholamandalam MS General Insurance Company and Max Life Insurance Company for marketing, distribution and selling life and general insurance products.

  • SBI Cards and Payment Services: Aparna Kuppuswamy, chief risk officer of the company, has tendered her resignation. Her last working day with the company will be Feb. 10, 2023.

  • Neuland Laboratories: The board appointed Abhijit Majumdar as chief financial officer and key managerial person. The board also approved transfer of company’s property spanning 1.75 lakh square feet in Nanakramguda, Hyderabad to various parties via perpetual lease for an overall consideration of Rs 117.96 crore.

  • Raj Rayon Industries: The company commenced commercial production of textured yarn at its Silvassa plant.

  • Fusion MicroFinance: The board will convene on Nov.8 to raise funds by issue of NCDs aggregating up to Rs 145 crore on private placement basis.

  • IIFL Wealth Management: Public shareholders—General Atlantic Singapore Fund and FIH Mauritius Investments—completed the sale of 2.22 crore shares to BC Asia Investments X, pursuant to the share purchase agreement dated March 30, 2022. The board also approved the appointments of Pavninder Singh and Rishi Mandawat as additional, non-executive, non-independent directors.

  • Life Insurance Corporation of India: The insurer increased its shareholding in Mahindra & Mahindra Financial Services to 7.02% from 5.01%. It decreased its shareholding in HEG to 4.84% from 6.85%.

  • Poonawalla Fincorp: The company clarified that the statement by Poonawalla Housing Finance’s MD & CEO Manish Jaiswal quoted in the media report of its housing arm being put on the block was in the context of the earlier in-principle approval granted by the board for raising funds in the unit.

  • Zee Entertainment Enterprises: The company said the petition filed against it by Invesco and OFI before the NCLT has been dismissed.

  • Can Fin Homes: The company’s board will meet on Nov. 28 to consider an interim dividend for the current fiscal.

  • HG Infra Engineering: The company received a letter from Adani Road Transport regarding declaration of appointed date by authority as November 03, 2022 to execute civil and associated works on EPC basis for developing an access-controlled six lane road in Uttar Pradesh on DBFOT (Toll) basis.

  • Reliance Industries: Reliance Jio, the telecom arm of the company, launched 5G services in Pune.

  • PVR/Inox Leisure: The Mumbai bench of NCLT will take up hearing and final disposal of PVR-Inox Leisure merger on Dec. 15, 2022.

  • Shoppers Stop: The company has made an investment of Rs 4.95 crore in wholly owned subsidiary Global SS Beauty Brands under an earlier commitment to inject Rs 20 crore in the unit.

  • Adani Enterprises/Adani Power/Tata Power: Supreme Court upheld Aptel order on Rs 7,000 crore transmission contract awarded by MERC to Adani Electricity Mumbai Infra. Tata Power had challenged this order in April 2021.

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  • Keystone Realtors: The equity shares of the company will be listed on the exchanges on Nov. 24. Its IPO price was Rs 541 with face value of Rs 10 each. The issue was subscribed 2.01 times during its course from Nov 14-16. The QIB portion was subscribed 3.84 times, non-institutional investors’ basket was subscribed 3.03 times and the retail portion was subscribed 53%.

Block Deals

  • Wipro: Societe Generale bought 8.8 lakh shares (0.02%), BNP Paribas Arbitrage sold 8.8 lakh shares (0.02%) at Rs 389 apiece.

Bulk Deals

  • Fino Payments Bank: Capri Global Holdings bought 13.2 lakh shares (1.59%) at Rs 228.77 apiece.

  • Inox Green Energy Services: ICM Finance bought 20.4 lakh shares (0.7%) at Rs 61.82 apiece, Pilot Consultants bought 57.66 lakh shares (2%) at Rs 60.61 apiece, Elara India Opportunities Fund sold 22.08 lakh shares (0.76%) at Rs 60.17 apiece, Polus Global Fund sold 53.85 lakh shares (1.84%) at Rs 61.21 apiece, Nomura Singapore sold 14.61 lakh shares (0.5%) at Rs 60.35 apiece, Yes Bank sold 23.08 lakh shares (0.8%) at Rs 61.01 apiece.

  • Voltamp Transformers: Nippon India Mutual Fund bought 3 lakh shares (2.07%) at Rs 2,650 apiece, Nalanda India Fund sold 4.2 lakh shares (2.9%) at Rs 2,651.56 apiece.

Who’s Meeting Whom

  • KIMS Hospital: To meet investors and analysts on Nov. 24.

  • Galaxy Surfactants: To meet investors and analysts on Nov. 24.

  • EIH: To meet investors and analysts on Nov. 24.

  • Precision Camshafts: To meet investors and analysts on Nov. 28.

  • TruCap Finance: To meet investors and analysts on Nov. 24.

  • Sundram Fasteners: To meet investors and analysts on Nov. 24. And Nov. 25.

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Trading Tweaks

  • Price Band Revised From 20% To 10%: UCO Bank

  • Ex-Date Interim Dividend: Power Finance Corporation, Cupid, Polyplex Corporation, JM Financial, Bharat Forge, Diamines & Chemicals

  • Ex-Date Special Dividend: Polyplex Corporation

  • Ex-Date Extra Ordinary General Meeting: Nandani Creation

  • Record-Date Interim Dividend: Cupid, Hindustan Zinc, Panama Petrochem

  • Record-Date Amalgamation: Mindtree

  • Move Into Short-Term ASM Framework: Easy Trip Planners

  • Move Out Of Short-Term ASM Framework: Neuland Laboratories, Hindustan Foods (NDA), Fiem Industries

Insider Trades

  • Banswara Syntex: Promoter Groups Kavita Soni sold 45,000 shares and Udit Toshniwal sold 20,000 shares on Nov. 17.

  • Berger Paints India: Promoter U.K Paints (India) bought 25,000 shares on Nov. 22.

  • Uttam Sugar Mills: Promoter Uttam Sucrotech sold 12,885 shares on Nov. 21.

  • KPIT Technologies: Promoter Hemlata Shende sold 5,000 shares on Nov. 22.

Money Market Update

Rupee closed 0.22% lower against the U.S. dollar at 81.85 on Wednesday, compared to Tuesday’s close of 81.67.

F&O Cues

  • Nifty November futures ended at 18,269, a discount of 12 points.

  • Nifty November futures fell 29.49% and 48,146 shares in Open Interest.

  • Nifty Bank November futures ended at 42,714.8, a premium of 236 points.

  • Nifty Bank November futures fell 31.25% and 23,898 shares in Open Interest.

  • Securities in ban for the period: PNB.

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