Stock Market Closing Update: Sensex, Nifty End In Green; Ultratech Cement, HDFC Life Top Gainers

The Indian equity market recovered from early losses and ended in the green on Thursday. At market close, Sensex was up 0.13 % at 6,988 points, while Nifty 50 ended 0.18% higher at 20,133 points. Top gainers in the Nifty 50 pack were Ultratech Cement (up 3.11%), HDFC Life (up 2.42%), and Apollo Hospitals (up 2.34 %).

At 2:28 pm IST, Sensex was down 0.09% at 66,843.78 points, while Nifty 50 was unchanged at 20,101.60 points. The share price of Ultratech cement was up 3.22% at Rs 9,013.70 per share at 2:29 pm IST, while the share price of Mahindra & Mahindra Limited gained 2.10% at the time of writing this article.

BSE Sensex declined 132 points or 0.20% to 66,764 and Nifty50 fell 22 points or 0.11% to 20,070 at 11:58 am on November 30, 2023. Nifty Bank slipped 213 points or 0.48% to 44,353and Nifty Midcap gained 166 points or 0.39% to 42,785.

Meanwhile, oil manufacturer Gandhar Oil Refinery (India) managed to beat analysts' expectation as it got listed at a premium of 75% on the bourses on November 30. It began trading at Rs 295.40 on BSE and at Rs 298 on the NSE against the issue price of Rs 169 apiece. Analysts hoped that the stock would list at Rs 245 apiece.

From the pack of Sensex, shares of UltraTech Cement, Axis Bank, Sun Pharma, M&M, and Titan Company emerged as the top gainers while shares of Tata Motors, ICICI Bank, and HDFC Banks figure in the list of top laggards today.

The Nifty 50 has surged nearly 500 points in the last five trading sessions, marking a turnaround for the index. November has seen a substantial 5.5% gain so far, making it the best month of the year.

The momentum in the market was particularly strong on Tuesday and Wednesday, propelling the Nifty to new heights. The mid-week session also witnessed BSE-listed companies crossing the milestone of $4 trillion in market capitalization.

A significant contributor to this revival has been the Nifty Bank, which successfully overcame the challenging 44,000 mark. Over the past four days, the banking index has surged by over 1,100 points, adding further buoyancy to the overall market sentiment.

Investors are tracking certain stocks poised for potential moves in Thursday's session:

Metro Brands & Nykaa: Foot Locker has signed a long-term licensing agreement with both companies, granting Metro Brands exclusive rights to operate Foot Locker stores in India and Nykaa Fashion's exclusive e-commerce partnership.

Zee Entertainment: Denying a recent NDTV report on the Sony-Zee merger, Zee Entertainment reaffirms its commitment to a successful merger closure, following the approved composite scheme of arrangement.

Jupiter Wagons initiates a Qualified Institutional Placement (QIP) on November 29 with a floor price of Rs 331.34 per share. PCBL is planning a joint venture for nano silicon products for batteries with an initial contribution of $16 million, followed by an additional investment of $28 million.

GNFC share buyback is to commence on December 1 and conclude on December 7, aiming to repurchase up to 84.78 lakh equity shares through the tender offer route. IDBI Bank's fresh bids sought from asset valuers by the Department of Investment and Public Asset Management for the strategic divestment of IDBI Bank.

SBI Life shareholders approve the appointment of Amit Jhingran as MD & CEO. SIS India Board meeting scheduled for the buyback of equity shares.

Tata Technologies, Gandhar Oil, Fedbank Financial, Flair Writing, and Rocking Deals are set to list in the market.

Asian Markets declined across the board, with Nikkei 225 down 0.25%, Topix down 0.2%, Kospi down 0.3%, and Kosdaq flat. Hang Seng futures, however, indicate a slight rebound from Wednesday's drop.

Despite the US economy exceeding growth expectations, major indices on Wall Street remained sluggish on Wednesday. Nonetheless, all three indices are up nearly 10% for November, showcasing the resilience of the US stock market.

The GIFT Nifty is showing slight declines in comparison to the Nifty Futures closing on Wednesday, hinting at a potential lower opening for the Indian market.

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Nov 30, 2023, 2:47 pm IST

European Stocks Open Higher, Inflation In Focus

European stock markets gained in the initial few minutes of trading on Thursday ahead of key US inflation data. London's benchmark FTSE 100 index rose 0.2% to 7,437.39 points. In the eurozone, the Paris CAC 40 index gained 0.1% to 7,273.89 points.

Nov 30, 2023, 2:26 pm IST

Vedanta Shares Trade 0.41% Lower At Rs 232.45 Per Share

Shares of Vedanta Ltd. traded 0.41% lower at Rs 232.45 per share in Thursday's session at 2:20 pm IST. The stock opened at Rs 234.0 and has touched an intraday high and low of Rs 234.85 and Rs 230.65, respectively, by the time of writing this article.

Nov 30, 2023, 2:18 pm IST

Adani Enterprises, Adani Total Gas, Adani Green Energy: Most Adani Group Stocks Are Trading In Red Today

After seeing a continuous rally for two days this week, the share price of Adani Group stocks failed to sustain the momentum on Thursday. Shares of most Adani group companies including Adani Enterprises, Adani Energy Solutions, Adani Power, Adani Ports, Adani Wilmar, Adani Total Gas, and Adani Green Energy- traded in the red territory today possibly due to not-so-positive sentiment in the broader market. Today, the share price of Adani Energy Solutions tumbled 2.47% at Rs 854.65 per share at 12.57 pm IST and shares of Adani Ports and Special Economic Zone gained were down 0.71% at Rs 829.25 per share. Adani Power and Adani Wilmar shares were down 2.70% and 2.29% at Rs 421.85 and Rs 339.65 respectively at 1:00 pm IST. Shares of Adanu Total Gas were down 3.28% at Rs 708.70 per share at 1:03 pm IST. Meanwhile, the share price of Adani Green Energy fell 3.05% at Rs 1009.00 per share at 1:01 pm IST.

Nov 30, 2023, 1:54 pm IST

Tata Coffee Announces Capacity Expansion of Its Subsidiary

At its meeting on November 30, 2023, the company's Board of Directors authorised the establishment of a new 5500 Metric Tonnes (MT) freeze-dried coffee facility in Vietnam, expanding the existing 5,000 MT facility. Tata Coffee Vietnam Company Ltd., a fully-owned subsidiary of the company, is in charge of this plant. The capacity raise would take two years to complete and will cost USD 53.3 million (about INR 450 crores).

Nov 30, 2023, 1:45 pm IST

Shreeji Translogistics Enhances Its Footprint By Opening New Branch In Indore

One of India's largest comprehensive national logistical service providers, Shreeji Translogistics Limited (STL), has established a new branch in Indore, Madhya Pradesh. SHREEJI is expanding its reach into central India with the establishment of a new branch in Indore. With its extensive network and knowledge of the logistics sector, the firm aims to meet the region's growing need for dependable and effective supply chain and transportation solutions.

Nov 30, 2023, 1:34 pm IST

Shriram AMC Allots 49,11,021 Equity Shares On Conversion of Securities for Mission1 Investments LLC

By converting its securities into equity shares, Mission1 Investments LLC, a US-based investment firm that made an investment in Shriram Asset Management Company Limited (Shriram AMC) in 2022, has now completed acquiring a 23% stake in the company. Currently, 29,94,349 equity shares of Shriram AMC are owned by Mission1 Investments LLC. 49,11,021 equity shares with a face value of Rs. 10 each were distributed by the Securities Issue Committee of the Board of Directors of Shriram AMC in place of Mission1 Investments LLC and Shriram Credit Company Limited securities. The remaining warrants, compulsorily convertible debentures, and compulsorily convertible preference shares were converted into equity shares instead, and as required by SEBI regulations, the equity shares are subject to lock-in and transferability restrictions. The goal of Mission1 Investments LLC's February 2022 agreement to invest Rs 37 crore in Shriram AMC was to rekindle the mutual fund industry. Among the investors in Mission1 are Toronto-based Twin River Capital's Managing Partner Eric Wetlaufer, as well as fintech entrepreneurs Gaurav Patankar and Amit Rajpal. One of the earliest listed AMCs in the nation, Shriram AMC was founded in 1994.

Nov 30, 2023, 12:54 pm IST

Tata Tele Business Services Partners With Truecaller To Offer ‘Verified Business Caller ID Solution’

Leading B2B digital and cloud solutions provider in India, Tata Tele Business Services (TTBS), has partnered with the top global communications platform, Truecaller. Through the introduction of an extra layer of identification, credibility, and spam protection, this partnership offers TTBS enterprise clients the cutting-edge "Verified Business Caller Id Solution," which significantly advances secure and effective communication. TTBS business clients' interactions with their consumers are expected to change as a result of Truecaller's Verified Business Caller ID solution bundle. Truecaller's verified Business Caller ID solution will allow users to accurately show the brand and logo on verified business calls, allowing consumers to identify them promptly.

Nov 30, 2023, 12:49 pm IST

DreamFolks Partners With Grey Wall To Enhance Its Global Presence

The top airport and travel services aggregator in India, DreamFolks, is thrilled to announce its partnership with one of Russia's largest airport and lounge service aggregators, Grey Wall. DreamFolks and Grey Wall believe that this alliance will improve travellers' cross-border travel experiences. Grey Wall's extensive network of lounges and services is now available to DreamFolks clients and their end users in Russia. DreamFolks' own technology platform will facilitate easy access to almost 100 lounges situated at key Russian airports and railway stations, guaranteeing a flawless journey for passengers utilising lounge access. Grey Wall will benefit from DreamFolks' extensive client network through this agreement, which is a smart way to get more individuals into their lounges. A new age of travel excellence is anticipated as a result of the two organisations' collaboration, which promises to combine efficient services with luxury facilities. All of Russia is covered by the collaboration, including important cities like Moscow, St. Petersburg, Sochi, Minsk, Kaliningrad, Yekaterinburg, Vladivostok, and Novosibirsk. Now, travellers may take advantage of unmatched access to the lounges covered by this collaboration.

Nov 30, 2023, 12:36 pm IST

Aurobindo Pharma Receives USFDA Approval For Asthma

Aurobindo Pharma Limited announces that Eugia Pharma Specialities Limited, its wholly owned subsidiary, has been granted final approval by the US Food & Drug Administration (USFDA) to produce and distribute Budesonide Inhalation Suspension, 0.5 mg/2 mL Single-Dose Ampule. This product is therapeutically and bioequivalent to the reference listed drug (RLD), PULMICORT RESPULES® (budesonide) Inhalation Suspension by Astrazeneca Pharmaceuticals LP. It is anticipated that the product will debut in FY25. IQVIA estimates that the authorised product will have a market size of US$ 226.4 million for the year ending in September 2023. This is the 173rd ANDA approval from Eugia Pharma Specialities Group (EPSG) facilities, which produce sterile and oral specialty pharmaceuticals (including nine tentative approvals). Children between the ages of 12 months and 8 years old should receive preventative therapy and maintenance treatment for asthma with Budesonide Inhalation Suspension, 0.5 mg/2 mL Single-Dose Ampule.

Nov 30, 2023, 12:26 pm IST

SJVN Synchronizes The Second Unit of 60 MW Naitwar Mori Hydro Electric Project In Uttarakhand

The Second Unit of the 60 MW Naitwar Mori Hydro Electric Project (NMHEP) has been successfully linked with the National Grid by the Company. NMHEP is situated in Uttarkashi district, Uttarakhand, on River Tons, a significant tributary of the Yamuna River. The first of the two 30 MW generating units in the NMHEP's Run of the River project has been producing commercially since this month's 24th. An annual 265.5 million units of energy will be produced by the project. The company built a 37-kilometer, 220 kV transmission line to transport power from Bainol to Snail via the Naitwar Mori HEP. “After commissioning of the Project, 12% free electricity will be supplied to the State of Uttarakhand as royalty. In addition, each Project Affected Family will be provided with an amount equivalent to cost of 100 Units of electricity per month for ten years. The Project will usher an era of overall development of the area with infrastructure development and generation of direct & indirect employment. Treading on the path of impeccable progress, the Company, a leading Power CPSU is dedicated to contribute to the energy goals of Government of India. The Company has set a Mission of 12,000 MW by 2026 and Shared Vision of 50,000 MW installed capacity by 2040,” said SJVN in a stock exchange filing.

Nov 30, 2023, 11:41 am IST

Tata Tech Shares Lists At 140% Premium

Tata Technologies shares made a stellar debut on the bourses on November 30 as it listed at 140% premium to the IPO price. Tata Technologies shares began trading at Rs 1,200 on the NSE and at Rs 1,199.95 on the BSE. The issue price was Rs 500 apiece. Tata Technologies IPO managed to gain huge interest from all categories of investors, with more than 73.38 lakh total applications. The public offer was subscribed 69.43 times, with the quota reserved for qualified institutional buyers (QIBs) getting booked a record 203.41 times.

Nov 30, 2023, 10:50 am IST

Gandhar Oil Lists At 75% Premium

Oil manufacturer Gandhar Oil Refinery (India) managed to beat analysts’ expectation as it got listed at a premium of 75% on the bourses on November 30. It began trading at Rs 295.40 on BSE and at Rs 298 on the NSE against the issue price of Rs 169 apiece. Analysts hoped that the stock would list at Rs 245 apiece.

Nov 30, 2023, 9:38 am IST

Nykaa And Metro Brands Stocks Surge Following Agreement With Foot Locker

Shares of Nykaa and Metro Brands are on the rise following a long-term licensing agreement with Foot Locker. The agreement grants Metro Brands exclusive rights to own and operate Foot Locker stores in India, while Nykaa Fashion secures its position as the exclusive e-commerce partner.

Nov 30, 2023, 9:30 am IST

Crude Hold Steady After 2-Day Rally Ahead Of OPEC+ Meeting

Crude oil maintains a two-day gain in anticipation of a crucial OPEC+ gathering where discussions on the extension or intensification of production cuts are expected. West Texas Intermediate hovers below per barrel following a 4% increase in the preceding two sessions, while the global benchmark Brent stands above . The heavyweight in OPEC+, Saudi Arabia, is urging fellow members to collaborate in curbing output to prevent a potential oil surplus in the coming year. However, resistance from nations such as Angola and Nigeria is evident before the virtual meeting scheduled for later on Thursday.

Nov 30, 2023, 9:27 am IST

Market Opens With Mild Gains, Nifty Above 20,100, Nifty Bank Near 44,700

The Indian indices started trading positively on November 30 despite subdued global indicators. The Sensex showed an uptick of 92.52 points or 0.14%, reaching 66,994.43, and the Nifty exhibited a gain of 32.30 points or 0.16%, reaching 20,128.90. Among the listed stocks, 1,548 recorded gains, 502 experienced declines, and 143 remained unchanged. The top gainers on the Nifty included Hero MotoCorp, Eicher Motors, BPCL, Dr. Reddy's Laboratories, and Grasim Industries. Conversely, Asian Paints, NTPC, TCS, Hindalco Industries, and Wipro were among the top losers.

Nov 30, 2023, 9:14 am IST

Rupee Opens 2 Paise Stronger At 83.30/$ Vs Previous Close

The Indian rupee commenced Thursday with a slight uptick, opening at 83.30 per dollar in comparison to the previous day's closing rate of 83.32 per Dollar.

Nov 30, 2023, 9:02 am IST

GIFT Nifty Trades Lower, Indicates A Start With Mild Cuts For Indian Market

The GIFT Nifty is indicating minor declines compared to the closing of Nifty Futures on Wednesday, suggesting a possible lower start for the Indian market.

Nov 30, 2023, 9:01 am IST

US Market Ends Mixed On Wednesday, Nasdaq Down 0.2%

In spite of US economy surpassing growth forecasts, frontline indices on Wall Street displayed a lack of momentum on Wednesday. Nevertheless, all three indices have advanced by almost 10% for November, underscoring the robustness of the US stock market.

Nov 30, 2023, 8:58 am IST

Market Outlook Today

Aditya Gaggar, Director of Progressive Shares said, "Post the consolidation breakout on the 28th of November, follow-up buying was seen in yesterday's trade and the Index reclaimed the level of 20,000 and ended the day at 20,096.60. Nifty50 has formed a big positive candle on the daily chart which suggests continuation of the current move and is likely to register a fresh high in the coming days. The immediate resistance comes at the record levels i.e. 20,190 while the downside is protected at 20,020. BankNifty has given a breakout from an Inverted Head and Shoulder formation which indicates an extension of the existing uptrend and as per the pattern, the target is 46,300 (Axis Bank- Cup and Handle Breakout, ICICI Bank- On verge of a Symmetrical Triangle Breakout, Kotak Bank- Forming an Inverted Head and Shoulder Formation). In the recent past, the Auto sector, as well as its constituents, rallied well, and we believe that a profit-booking correction can be seen and this will offer better entry opportunities. The same stands for OMC stocks from the Energy segment. Stock-specific buying will remain in the Metal and Pharma sectors."

Nov 30, 2023, 8:57 am IST

Asian Markets Opened Lower On Thursday, Nikkei Down 0.25%

Asian markets witnessed a broad decline, as the Nikkei 225 dropped by 0.25%, Topix by 0.2%, Kospi by 0.3%, and Kosdaq remained unchanged. Nevertheless, Hang Seng futures suggest a minor recovery from the drop observed on Wednesday.

Nov 30, 2023, 8:36 am IST

Market Likley To Open With Mild Cuts Ahead Of Monthly Expiry

The Nifty 50 has experienced an healthy climb of almost 500 points in the last five trading sessions, signaling a notable reversal for the index. November has emerged as the best month of the year, giving a substantial gain of 5.5% thus far. The market exhibited good momentum, particularly on Tuesday and Wednesday, taking Nifty to 20,100 mark. Additionally, during the mid-week session, BSE-listed companies achieved a milestone of trillion in market capitalization. A noteworthy contributor has been the Nifty Bank, which surpassed the 44,000 mark. Over the last four days, the banking index has surged by more than 1,100 points.