Indian benchmark indices closed lower on November 21, with the Nifty slipping below 23,400 and the Sensex dropping 460 points, weighed down by sharp declines in Adani stocks following bribery allegations.
Key Nifty losers included Adani Enterprises, Adani Ports, SBI Life Insurance, Britannia Industries, and SBI, while Power Grid Corp, UltraTech Cement, Hindalco Industries, Tata Steel, and Grasim Industries led the gainers.
The BSE Midcap index fell 0.3%, and the Smallcap index shed 0.6%. Among sectors, Energy, FMCG, Oil & Gas, PSU Bank, Media, and Metal indices dropped 1-2%, while the Realty index gained 1%, and the IT index rose 0.5%.
Meanwhile, the Indian rupee closed at a fresh record low of 84.50 per dollar, compared to its previous close of 84.41.
LIVE Feed
Nov 21, 2024, 3:37 pm IST
Market Ends Lower
Indian benchmark indices closed lower on November 21, with the Nifty slipping below 23,400 and the Sensex dropping 460 points, weighed down by sharp declines in Adani stocks following bribery allegations.
Nov 21, 2024, 3:25 pm IST
Godfrey Phillips Announces Rs 35 Interim Dividend for FY25
Godfrey Phillips has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. The record date to determine shareholder eligibility for this dividend is set for November 29, 2024.
Nov 21, 2024, 3:05 pm IST
RITES Partners with NISE to Enhance QA Services for Solar Energy Projects
RITES Ltd, a transport infrastructure consultancy, has entered into a Memorandum of Understanding (MoU) with the National Institute of Solar Energy (NISE). This partnership aims to collaborate on providing quality assurance (QA) services for solar and renewable energy projects.
Nov 21, 2024, 2:45 pm IST
NALCO Shares Soar to Record Highs on Optimism from Global Aluminium Price Surge
Shares of National Aluminium Company (NALCO) reached a new peak of Rs 252.65 on Thursday, rising by 5% in intra-day trading on the Bombay Stock Exchange (BSE), despite a weak broader market. Over the past three days, the stock has surged by a robust 15%, fueled by recent developments in the global aluminium market. This surge follows China’s announcement to end export tax rebates on aluminium and copper products, effective December 1, 2024, which has ignited optimism for Indian aluminium companies like NALCO.
Nov 21, 2024, 2:22 pm IST
Adani Group Denies Bribery and Fraud Charges, Vows Legal Action
The Adani Group has vehemently denied the bribery and fraud accusations made by the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) against its renewable energy arm, Adani Green Energy. In a statement issued on November 21, the group dismissed the charges as unfounded and reaffirmed its intent to pursue all available legal options. These allegations have caused significant volatility in the stock prices of Adani Group companies, resulting in substantial declines across its listed entities.
Nov 21, 2024, 1:35 pm IST
IndusInd Bank Joins Hands with UNICEF for Climate Risk Management Initiative
IndusInd Bank and UNICEF have partnered to bolster the 'Disaster Resilient Communities and Climate Risk-Informed Efficient Administrative Systems' program. This collaboration forms a key part of IndusInd Bank's flagship CSR initiative aimed at enhancing climate risk management and fostering community resilience.
Nov 21, 2024, 1:35 pm IST
Power Grid Acquires Khavda V-A Power Transmission for Rs 18.9 Crore
Power Grid Corporation has acquired Khavda V-A Power Transmission for ₹18.9 crore through a bidding process managed by REC Power Development and Consultancy. Khavda V-A Power Transmission is a Special Purpose Vehicle (SPV) established to develop a transmission system for evacuating power from the renewable energy zone in Gujarat's Khavda region. The project will be executed on a Build, Own, Operate, and Transfer (BOOT) basis.
Nov 21, 2024, 12:44 pm IST
Telecom Sector Sees Subscriber Shifts in September
The September telecom data reveals significant user shifts among major players. Vodafone Idea saw a reduced loss of 15.5 lakh users compared to 18.7 lakh in August, while Reliance Jio experienced a sharp rise in user losses, shedding 79.7 lakh subscribers versus 40.2 lakh previously. Bharti Airtel also saw a decline, losing 14.35 lakh users, an improvement from its August loss of 24.1 lakh. Meanwhile, BSNL added 8.5 lakh subscribers, a notable drop from the 25.3 lakh it gained in August.
Nov 21, 2024, 12:20 pm IST
Adani Group Loses Rs 2.6 Lakh Crore in Market Value Amid US Court Bribery Indictment
The Adani Group's stocks saw a sharp erosion of Rs 2.6 lakh crore ( billion) in combined market value by noon on November 21, following a US court indictment accusing the conglomerate and its Chairman, Gautam Adani, of bribing Indian government officials. Experts warn that this could mark the beginning of a series of challenges for the group.
Nov 21, 2024, 11:45 am IST
NTPC Green Energy IPO Update
The second day of bidding in NTPC Green Energy IPO commenced on Thursday, November 21, 2024. So far, the green energy IPO has received a massive response from NTPC shareholders and retail individual investors. The proposed equity shares are going to be listed on BSE and NSE. As per Investor Grain, NTPC Green Energy IPO's last GMP is Rs 0.80, last updated Nov 21st 2024 05:03 AM. With a price band of 108.00, NTPC Green Energy IPO's estimated listing price is Rs 108.8 (cap price + today's GMP). The expected percentage gain/loss per share is 0.74%.
Gold prices saw an impressive rise on November 21st, amid growing US inflation that has dampened expectations of a rate cut by the US Fed and a strengthening US dollar. Today, 22 carat gold costs Rs 7,145 per gramme in India, whereas 24-carat gold costs Rs 7,795 per gramme. In India, the price of 22k of 10 grams of gold rose to Rs 71,450 on Thursday, from Rs 71,150 on Wednesday, signifying a 300 rupee gain. Meanwhile, the price of 22k of 100 grams of gold climbed to Rs 7,14,500 today, from Rs 7,11,500 yesterday, signifying a 3,000 rupee climb.
Adani Group Shares: India's billionaire Gautam Adani and seven other senior business executives are indicated in the United States of America (USA) for bribes worth 0 million to US investors. Additionally, Gautam and his nephew Sagar Adani along with others are accused of bribing Indian government officials for solar contract. A five-count criminal indictment has been unsealed in federal court in Brooklyn.
RateGain Travel Technologies Limited (RateGain), a leading global provider of AI-powered SaaS solutions for travel and hospitality, has introduced Demand Booster, an innovative end-to-end digital marketing solution designed to empower hoteliers to maximize direct bookings and improve return on ad spend (ROAS).
Demand Booster is a comprehensive all-in-one solution that is designed to address these challenges. By integrating campaign management into a single user-friendly platform, offering seamless performance tracking and ensuring demand intelligence across 1100+ data sources, Demand Booster empowers hotels to focus on what matters: engaging guests and driving bookings.
Nov 21, 2024, 10:31 am IST
Bharat Global Developers Ltd’s Subsidiary Bags an Orde Worth Worth INR 251 Crores
Bharat Global Developers Ltd wholly-owned subsidiary, based in Dubai, has secured multiple prestigious orders for processing and supplying high-value precious stones, including diamonds, rubies, emeralds, and sapphires, to prominent wholesalers and bespoke designer jewellery boutiques. Additionally, the subsidiary has been entrusted with refining and supplying precious metals such as gold and palladium to global clients. The total value of these orders is approximately AED 109 million, translating to INR 251 crores. These orders represent a substantial addition to our subsidiary’s revenue pipeline and are expected to yield an estimated profit margin of 10-12% upon successful execution over the coming months.
Nov 21, 2024, 9:45 am IST
Sensex, Nifty In Bloodbath
Indian stock market once again were toppled by bears with Sensex erasing its 77,000 mark and Nifty 50 struggling at 24,300 levels. Smallcap and Midcap indexes were also down by 1% each. Except for IT Stocks, all other sectoral indices plunged with oil and gas stocks emerging as top losers. Here is the latest price of Sensex, Nifty:
Nov 21, 2024, 9:43 am IST
Market Live Updates: Adani Group Shares Nosedive
Adani stocks are top losers of BSE and NSE, dragging benchmarks like Sensex and Nifty. Stocks like Adani Enterprises and Adani Ports froze at a 10% lower circuit. Other Adani stocks are also in red. The bearish performance comes after Adani Group's chief Gautam Adani and seven other senior business executives are indicated in the United States of America (USA) for bribes worth 0 million to US investors. Additionally, Gautam and his nephew Sagar Adani along with others are accused of bribing Indian government officials for solar contract.
Nov 21, 2024, 9:21 am IST
Rupee Near Record Low
Indian rupee held near its record low of 84.4 per dollar so far in November, however, the depreciation in the INR has been refrained from going steeper amidst hawkish stance of RBI. Inflation rate of India has surpassed RBI's upper tolerance limit of 6% for the first time in over a year, which has delayed the rate cut expectations from the central bank. Also, latest Russia-Ukraine war escalation has fuelled concern of supply chain disruption which could impact inflation.
Nov 21, 2024, 8:58 am IST
Stock Market Live Updates: Key Stocks To Watch Out!
Prashanth Tapse, Senior VP (Research), Mehta Equities: Nifty snapped its 7-day losing streak on Tuesday, but volatility remains high with focus on the Maharashtra and Jharkhand elections. The index is still trading below its 200-DMA (23575), and key themes today include geopolitical tensions, rising oil prices (.50 per barrel), and a strengthening US Dollar. FIIs have sold Rs 34,348 crore this month, intensifying the downside pressure. NTPC Green Energy’s Rs 10,000 crore IPO saw 33% subscription on day one. Expect a volatile session with bearish sentiment across Nifty and Bank Nifty. Key stocks to watch include NTPC, HPCL, BPCL, and VOLTAS, all showing potential for downside targets amidst overbought conditions.
Nov 21, 2024, 8:29 am IST
Stock Market Live Updates: Adani Stocks In Focus
Adani Group shares will be in focus on Thursday, November 21, after Gautam Adani and 7 other executives criminally indicated in the US for about 0 million in alleged bribes.
Nov 21, 2024, 8:29 am IST
Market Live Update: Banking Indexes Outlook Today
Prabhudas Lilladher: BankNifty, almost reached the 51000 zone but could not sustain much longer, to witnessing profit booking to end the session near 50600 levels with bias turning into cautious mode. The index would have the crucial support zone near the important 200 period MA of 49800 levels below which the overall trend would turn bearish. Bankex scaled 58600 zone in the morning session but witnessing tough resistance, gradually slipped down to end near the 57600 zone with bias turning weak and is precariously placed with next important level of the 200 period MA at 56650 levels to be watched for. BankNifty would have the daily range of 50000-51000 levels, with Bankex support at 57000 and resistance at 58200 levels.
Nov 21, 2024, 8:29 am IST
Sensex Live Update: Outlook Of BSE Benchmark Today
Prabhudas Lilladher: Sensex after the pullback witnessed in the morning session scaled 78500 zone but failed to sustain in second half with overall bias and sentiment weakening and gradually erased the some gains to end near the 200 DMA zone of 77421. The support for the day is seen at 77000/23350 levels while the resistance would be seen at 78100/23700 levels.
Nov 21, 2024, 8:29 am IST
Stock Market Update: Nifty Outlook On November 21
Prabhudas Lilladher: Nifty indicated a significant pullback from the low made near 23350 levels which was the important longterm trendline zone and shown signs of improving bias to cross above the 23750 zone which did not last long with heavy profit booking eroded the gains on the back of fresh news of geo-political tensions arising, to initiate a very cautious approach. The index would have the crucial support zone of 23350 levels failing which would create panic selling and can worsen the trend further with next major support lying near 21700 zone.
Nov 21, 2024, 8:29 am IST
Stock Market Live Updates: Market To Open After 1-Day Holiday
Indian stock market will resume trading on November 21, after a 1-day holiday. Trading on BSE and NSE was closed on November 20 due to Maharashtra general assembly election of 2024.
Nov 21, 2024, 8:29 am IST
Stock Market Live: Market In Previous Session
In the previous session, the Sensex gained 239 points to close at 77,578, while the Nifty rose 65 points to end at 23,519. Meanwhile, the Midcap Index climbed an impressive 503 points to 54,548, and the Nifty Bank Index added 263 points to settle at 50,627. In the trading hours, Sensex and Nifty had crossed their key marks of 78,000 and 24,700.
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