Stock indices are currently undergoing a strong rally, continuing their positive momentum after opening strong this morning. As of 12 Noon, the Sensex had surged by 1,044 points, or 1.35%, trading at 78,383, while the Nifty 50 index had gained 303 points, up 1.30%, to reach 23,757.
All major sectors are in the green, with the Nifty leading the charge, up by 2.3%. The banking index has also shown a solid rise, increasing by 1%. Other key sectors, including metals, real estate, FMCG, and autos, are also showing impressive gains with broad-based strength across the market.
Earlier, Indian stock market opened on a strong positive note during the early trade of Tuesday, November 19. Sensex jumped over 77,800 and Nifty hit over 23,640 levels in the opening bell. Stocks like Trent, ONGC, BPCL, Tata Motors, and M&M are top gainers, while stocks like SBI Life, Cipla, Bajaj Finserv, Kotak Bank, and Shriram Finance were top losers but the decline was slowed. With that, Sensex and Nifty paused their seventh consecutive loosing streak. Nifty Green Energy IPO is among the much-awaited IPOs that will open on Tuesday, and accordingly, share price of NTPC will be in focus.
Gift Nifty is trading at a roughly 60-point upside to Nifty Futures Monday's completion, indicating an upward trajectory for the Indian benchmark indices after the Nifty index has been trading below the 200-day moving average (DMA) for the last two sessions. Asian markets began higher on Tuesday, following a mixed day for the US stock market on Monday. On the domestic market, the NTPC Green Energy IPO opens for subscription on November 19, 2024, thus the book-built issue of Rs 10,000.00 crores, consisting completely of fresh issuance of 92.59 crore shares, is expected to pique the attention of market observers in the session.
While Asian stocks also witnessed gains in trade with Hang Seng and Nikkei 225 up by around 1%. Overnight, Wall Street gained momentum, halting their previous sessions selloffs.
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Nov 19, 2024, 4:19 pm IST
Result Update: Lemon Tree Hotels | Strong all-round performance
Sumit Kumar of JM Financial Institutional Securities said, “Lemon Tree Hotels (Lemon Tree) reported a strong quarter with Revenue/EBITDA coming 6%/9% above JMFe (-1%/2% vs. consensus) led by healthy growth in ARRs, robust performance of the O&M business, and a better-than-expected margin performance. Revenue grew 25.2% YoY to INR 2.8bn, aided by room count increase of 18% and an ARR growth of 12% YoY. Occupancy was down 328bps YoY (up 174bps QoQ) due to 9% inventory being non-operational on account of renovation. While EBITDA margin was marginally up by 53 bps, the improvement (to the extent of 340 bps) was capped on account of higher renovation expense. We expect LTH to deliver Revenue/EBITDA/PAT CAGR of 15%/17%/30% over FY24A-27E aided by low double-digit RevPAR growth and positive operating leverage over the same period. We reiterate BUY with a Sep’25 TP of INR 155, valuing Lemon Tree at 23.0x EV/EBITDA (revised downwards from 24.0x earlier).”
Nov 19, 2024, 3:05 pm IST
Company Update: CMS Info Systems | Strong Core Business, Steady Growth And A Developing AIoT Story
Shalin Choksy of JM Financial Institutional Securities said, “CMSINFO is a market leader in the cash management business and has entered the managed services and AIoT Remote Monitoring business in order to de-risk from “de-cashification.” The cash management business has several growth levers (1) growing opportunity in retail cash management; (2) ATM additions owing to an increase in interchange fees and PSU RFPs; and (3) reducing competitive intensity, albeit reduction in cash transactions remains a key risk. At the same time, its entry into AIoT Remote Monitoring (now 7% of revenues) opens a new opportunity, thereby alleviating de-growth risks. Going forward, we forecast a 14% revenue CAGR through FY24-27E, resulting in PAT growth of 15% CAGR. However upsides are likely from a comeback in margins in managed services which have recently been affected. CMSINFO offers exposure to a 19% RoE company, growing at 14-15%, which after the recent ~20% fall from its highs, is trading at 18x FY26E. We recommend a BUY with a target price of INR 580 (20x Dec’26E EPS) for a 20% upside.
Nov 19, 2024, 2:31 pm IST
Strategy | Buy ideas In The FII Sell-Off
Venkatesh Balasubramaniam of JM Financial Institutional Securities said, “Nifty 50 is down 11% from its recent peak in Sep’24. During the course of this correction, 21% of stocks in the JM Financial coverage universe have fallen >30%, 55% of stocks have fallen >20% and 72% of the stocks have fallen >15%. We expect a pick-up in government capex and rural demand in 2HFY25. Further, with continued SIP flows and hopefully a slowdown in FII outflows in the near future, it might not be a bad time to start analysing JM Financial’s preferred list of 14 large, 10 mid and 15 small cap stocks (bottoms-up ideas compiled from our research team).”
Nov 19, 2024, 2:15 pm IST
Zomato Share Price In Focus
Bharat Gala, COO Equity broking- Ventura Securities said, “Zomato has exhibited a consistent upward move since June and made a high of 298 in September. A valid correction then followed with a lower top formation and then the stock made a low of 240 in November. Its KST, Aroon Up/Down and Demand Index indicators are positive. Recently, it also showed a symmetrical triangle breakout by a positive weekly price candle supported by volumes. After trading around the moving average for a while, Zomato is now clearly trading above its moving average. The target is 400 with support levels of 260, 254, and 248, where more shares can be accumulated. The stop loss would be 238.”
PSP Projects' share price saw a sharp increase of 10% on Tuesday, November 19, after reports surfaced that the Adani Group is in advanced negotiations to acquire a majority stake in the Gujarat-based construction firm. By the afternoon, the stock was trading at Rs 708 on the NSE.
Private insurance stocks traded lower on November 19 after reports suggested the Central Government plans significant reforms in the insurance sector. These include permitting 100% foreign direct investment (FDI) and relaxing rules for insurance agents. The proposed changes are expected to be part of the Insurance Amendment Bill, likely to be tabled in the winter session of Parliament later this month, according to a report by The Times of India on November 18.
Nov 19, 2024, 12:58 pm IST
Zinka Logistics IPO Allotment Expected on November 19
Bengaluru-based Zinka Logistics Solution Ltd., a prominent digital platform for truck operators, is set to finalize the share allotment status for its initial public offering (IPO) on Tuesday, November 19.
Shares of Honasa Consumer, the parent company of Mamaearth, tumbled over 18% on November 19, extending their losing streak as weak Q2FY25 results dampened investor confidence. The stock reached a 52-week low of Rs 242.4, following a 20% lower circuit at Rs 297.25 on November 18 after the company reported its first quarterly loss in five quarters.
Nov 19, 2024, 11:47 am IST
NTPC Green Energy IPO Day 1 Update
NTPC Green Energy IPO: The Rs 10,000 crore initial public offering (IPO) of NTPC Green Energy has opened from Tuesday onward. The bidding will close on November 22. The price bands for subscribing to the IPO range from Rs 102 to Rs 108. The majority of brokerages have recommended 'Subscribe' on the IPO. In less than 1 hour of the opening of the IPO, NTPC Green Energy received up to 10% subscription with bids of 5,81,05,452 equity shares against its offered size of 59,31,67,575 equity shares, as per the stock exchanges data.
Gold prices in India saw an enormous rise on Tuesday, November 19, as the dollar index pulled down from recent highs and hawkish sentiments made by Fed members over the likelihood of more rate cuts. the current price of gold is Rs 7,707 per gramme for 24-carat gold and Rs 7,065 per gramme for 22-carat gold. While the price of 22k of 10 grammes of gold in India increased by Rs 700 to Rs 70,650 on Tuesday from Rs 69,950 on Monday, the price of 22k of 100 grammes of gold increased by Rs 7,000 to Rs 7,06,500 today from Rs 6,99,500 yesterday. Prices for 24k of 10 grams of gold in India increased by Rs 760 on Tuesday to Rs 77,070 from Rs 76,310 on Monday.
All major sectors are surging today, with positive momentum across the board. The Nifty It index is up a strong 2%.Several key sectors, including auto, oil & gas, power, realty, telecom, and media, are extending their gains, contributing to the overall market rally.
Nov 19, 2024, 10:58 am IST
IT Stock In Spotlight On Reporting 390% PAT Growth & 329% Jump In EBITDA In Q2
The unaudited financial results for the Q2 FY25 & H1 FY25 have been released by Dev Information Technology Limited, a global provider of managed IT services, cloud services, digital transformation, and enterprise applications. Products offered by the firm include ByteSigner and Talligence. The company's consolidated total income for the second quarter of FY25 was Rs 48.24 crore, up 69.26% from Rs 28.50 crore during the same time the year before. Based on a stand-alone basis, income climbed 43.7% to Rs 43.84 crore from Rs 30.51 crore the year before. On a consolidated basis, the company's net profit for Q2 FY25 was Rs 8.07 Cr, up 390.66% YoY from Rs 1.65 Cr in Q2FY24. On a standalone basis, however, the company's net profit for the quarter under review was Rs 9.14 Cr, up 463.13% YoY from Rs 1.62 Cr in the year-ago quarter.
Nov 19, 2024, 10:32 am IST
TVS Motor Company Launches TVS Apache RTR 4V With New Features And Technology
Known for delivering on its commitment to innovation and technology, TVS Motor Company, a global leader in two- and three wheeler vehicles introduces a refreshed TVS Apache RTR 160 4V with new features and technology. Equipped with features tailored to meet the evolving needs of today’s riders, TVS Motor reaffirms its commitment to bringing high-performance motorcycles with cutting-edge technology, refined aesthetics, and enhanced capabilities to the market. This latest edition of the TVS Apache RTR 160 4V offers a powerful blend of cutting edge tech integration, improved performance, and unmatched aesthetic appeal for customers, and is designed to cater to a new generation of riders who seek style, agility, and precision in every ride.
Nov 19, 2024, 9:50 am IST
Stock Market Live Updates: Sensex, Nifty Extend Gains
After opening strong on November 19, Sensex further extended its rally to hit an intraday high of 78,051.05, while Nifty crossed an intraday high of 23,700.35. Market trend looks positive, as experts believe that Indian stocks have been oversold. Here is the latest price of Sensex and Nifty:
Nov 19, 2024, 9:29 am IST
Market Live Updates: Opening Bell
Sensex jumped over 77,800 and Nifty hit over 23,640 levels in the opening bell. Stocks like Trent, ONGC, BPCL, Tata Motors, and M&M are top gainers, while stocks like SBI Life, Cipla, Bajaj Finserv, Kotak Bank, and Shriram Finance were top losers but the decline was slowed.
Nov 19, 2024, 9:14 am IST
Rupee Vs Dollar
After closing at 84.39 on Monday, the Indian rupee kicked off untouched at 84.39 per dollar on Tuesday.
Nov 19, 2024, 8:55 am IST
Stock Market Live Updates: Derivative Outlook Today
Anand James, Chief Market Strategist, Geojit Financial Services: Nifty weekly contracts have the highest open interest at 24000 CE and 21800 PE while monthly contracts have the highest open interest at 24000 CE and 23000 PE. The highest Ol addition was seen at 24000 CE and 21800 PE in weekly contracts and at 23500 CE and 22500 PE in monthly contracts. Flls increased their future index long holdings by 5.20%, increased future index shorts by 0.44% and in index options, 16.77% increase in Call longs, 7.25% increase in Call short, 27.31% increase in Put longs and 23.41% increase in Put shorts.
Nov 19, 2024, 8:55 am IST
Stock Market Live Updates: Nifty Outlook Today
Anand James, Chief Market Strategist, Geojit Financial Services: Attempts to push higher seen yesterday were weak, resigning Nifty to the seventh day of negative close, the longest stretch of consecutive red candles since the ongoing downtrend began on 27th Sep. Nevertheless, we will retain revival hopes, with RSI appearing bottomed out, but will limit upside target to 23733-88 for now, awaiting further signals for the 24111 move. Alternatively, inability to float above 23565 could delay recovery moves, but a collapse is less expected today
Nov 19, 2024, 8:54 am IST
Sensex, Nifty Live Updates: How Will Stock Market Trade On Tuesday
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: An important takeaway from the recent market trend is that a quick and sharp recovery is not in sight. The momentum that drove the market to its record peak of 26216 in September is gone. There can be recoveries which are unlikely to sustain given the selling mode of the FIIs and the concerns surrounding the weak earnings growth feared in FY25. At best the market may consolidate around the present levels with sideways movements. Sustained up moves will emerge only when incoming data indicates earnings recovery. A significant trend is the sustained weakness emerging in a large number of mid and smallcaps. Hundreds of such stocks, which had run ahead of fundamentals, and driven by momentum are reverting to mean. Investors need not rush in to grab these stocks which have more downside potential. In contrast, quality largecaps are resilient and investors can stick to them.
Nov 19, 2024, 8:52 am IST
Market Live Updates: NTPC Green Energy IPO To Open On November 19
The IPO is purely of fresh issue worth Rs 10,000 crore. Hence, there will be no offer for sale (OFS) by selling shareholders. As per NSE data, up to 98,14,02,869 equity shares will be offered for subscription. Further, the price band of the IPO is fixed at the lower end of Rs 102 and the upper end of Rs 108 per share. NTPC Green Energy will launch its IPO for subscription on BSE and NSE on November 19. Bidding will close on November 22, 2024.
Nov 19, 2024, 8:52 am IST
Stock Market Live Updates: Nifty On November 18
Nifty 50 dropped by over 182 points to hit an intraday low of 23,350.40. After the closing bell, the 50-scrip benchmark closed at 23,453.80, lower by 78.90 points or 0.34%.
Nov 19, 2024, 8:52 am IST
Stock Market Live Updates: Sensex On November 18
Sensex erased its 77,000 mark on Monday, November 18, to hit an intraday low of 76,965.06. That is why, the benchmark fell by at least 615 points in the trading hours. In the closing hours, Sensex recovered slightly and ended at 77,339.01 down by 241.30 points or 0.31%.
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