Stock Market Today: All You Need To Know Going Into Trade On Nov. 28

Shares were under downward pressure and the dollar climbed as markets opened Monday to news of growing unrest in China over Covid restrictions.

The dollar benefited from haven demand and made some of its biggest early gains against the currencies of Australia and South Africa, both of which are exposed to trade with China. 

Last week, the 30-share BSE benchmark Sensex rallied 630.16 points or 1%. On Friday, the Sensex settled at 62,293.64 -- its record closing high. The NSE Nifty, too, ended at its lifetime peak of 18,512.75. The markets were supported by favourable triggers like net FII buying and a drop in oil prices.

The S&P 500 also posted a weekly gain of 1.5%, which took the index to the highest level since early September. The Nasdaq 100 also eked out a gain for the week, despite dropping on Friday. Most Treasuries erased early losses.

Cryptocurrencies continued to trend downwards since the FTX meltdown.

At 7:24 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.4% to 18,585.

• Emami Paper Mills: The company will consider appointment of an Interim Chief Financial Officer on Nov. 28.

• Indian Energy Exchange: Indian Energy Exchange to buyback upto 49 lakh shares representing 0.55% of the paid-up share capital via open market. Buyback price is Rs 200 apiece.

• L&T Financial Holding: The company has received Rs 3,484 crores ($425 million) as consideration along with Rs 764 crores cash for the sale of L&T Investment Management to HSBC Asset Management.

• Life Insurance Corporation: The company decreased its shareholding from 6.29% to 4.21% in DCM Ltd.

• VA Tech Wabag: The company has signed an agreement with Asian Development Bank towards raising Rs. 200 crores through unlisted Non-Convertible Debentures.

• One 97 Communications (Paytm): RBI asks Paytm Payments Services to reapply for online payment aggregator license. PPSL must seek necessary approval for past downward investment from Paytm in to PPSL, to comply with FDI guidelines. PPSL must also not onboard new online merchants. Reapplication must be completed within 120 days.

• Hero MotoCorp: The company has decided to raise the ex-showroom prices of its motorcycles and scooters from December 1. The price increase will be up to Rs 1,500 and the quantum will vary by specific models and markets. This will help the company offset any further cost impact and drive improvement in margins, the company has said.

• HFCL: Bags contract from State Water & Sanitation Mission, Lucknow aggregating to Rs 1,770 crore for providing EPC services.The project will be executed by the Company with JWIL Infra Limited as a consortium partner.

• Bajaj Finance: Entered into a share-purchase agreement to acquire up to 40% stake in Snapwork Technologies. The company intends to strengthen the technology roadmap through this acquisition. The acquisition cost is Rs 93 crore. Snapwork is a technology services company, based out of Mumbai with FY21-22 revenue of Rs 33.71 crore.

• Shriram Properties: Shriprop Builders Pvt., a wholly owned subsidiary of the Company has acquired 100% of the equity shares of Suvilas Realities Pvt., a real estate company at Bangalore for Rs 93 crore. Consequently, Suvilas Realities Private Limited has become a tier 2 subsidiary of the company. Suvilas Realities Private Limited is developing a project called Suvilas Palms is a high rise residential apartment project at Jalahalli, Bangalore.

• Lemon Tree Hotels: Signed a license agreement for a 42-room hotel in Jamshedpur. The hotel is expected to be operational by end of September 2023. Carnation Hotels Pvt., a wholly owned subsidiary and the hotel management arm of the company will be operating this hotel.

• Dharmaj Crop Guard: The Gujarat-based agro-chemical company will launch its IPO on Nov. 28, which will continue till Nov. 30. The price band for the issue has been fixed at Rs 216-237, which comprises fresh issue of shares worth Rs 216 crore and offer for sale worth Rs 35.10 crore. The company is offering 31.35% of the post-issue equity capital during the IPO.

• Venus Pipes & Tubes: BNP Paribas Arbitrage bought 6.5 lakh shares (3.2%), Hemant Rajanikant Shah sold 6.5 lakh shares (3.25%) at Rs 650 apiece.

• State Bank of India: To meet analysts and investors on Nov. 29.

• One 97 Communications: To meet analysts and investors on Nov. 30.

• Aether Industries: To meet analysts and investors on Nov. 29.

• Price Band Revised From 20% To 10%: Fino Payments Bank

• Record Date Bonus: Maharashtra Seamless

• Move Into Short-Term ASM Framework: Fino Payments Bank

• Ultramarine & Pigments: Promoter Group Deepa Ajay sold 2,720 shares, promoter Daya Sridhar sold 2,838 shares between Nov. 24 and 25.

• Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Nov. 24.

• Mishtann Foods: Promoter & director Hiteshkumar Gaurishankar Patel bought 3.19 lakh shares on Nov. 11.

Rupee closed slightly lower against the U.S. dollar at 81.68 on Friday, compared to Thursday’s close of 81.62.

• Nifty November futures ended at 18,645.95, a premium of 19.8 points.

• Nifty November futures rose 1.26% and 2,819 shares in Open Interest.

• Nifty Bank November futures ended at 43,270, a discount of 14.25 points.

• Nifty Bank November futures fell 8.15% and 9,902 shares in Open Interest.

• Securities in ban for the period: Nil.

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