Stock Market Highlights 28 November 2024: Bloodbath on D-Street; Sensex plummeted 1190.34 pts or 1.48% to close at 79,043.74, and Nifty 50 ended 360.75 pts or 1.49% lower at 23,914.15.

Honasa Consumer Ltd has appointed Vipul Maheshwari as Senior Vice-President of Product and Data Analytics, the company announced today. Maheshwari, who has been with the organisation for four years, will spearhead data-driven product development across the company’s portfolio of beauty and personal care brands.

Read full report here

HDFC Life Insurance Company’s statement in response to today’s news flash on a leading news channel regarding potential changes to bancassurance regulations by the Insurance Regulatory and Development Authority of India. 

“The news flash is based on rumours and speculation, and we would like to categorically state that the information mentioned is inaccurate. As an organisation, we believe that regulatory changes of such significance are typically preceded by detailed industry consultations.”

Top Gainers

Adani Enterprises (1.63%), SBI (0.77%), Shriram Finance (0.63%), Cipla (0.47%) 

Top losers:

SBI Life (-5.41%), HDFC Life (-3.74%), M&M (-3.35%), Infosys (-3.34%), Adani (-2.53%)

PVP Ventures board has approved the proposal for acquisition of substantial shares of Biohygea Global Private Limited, a health care venture located in Chennai in order to expand its fleet in the health care sector.

Stock trades flat on the NSE at ₹25.51.

Tiger Logistics (India), a BSE-listed pioneer in global logistics services, said that three Public Sector Undertakings (PSUs)— Bharat Heavy Electricals Limited (BHEL), Bharat Earth Movers Limited (BEML), and Bank NotePaper Mill India Limited (BNPLIPL) — have reinforced their confidence in the company by empanelling and renewing their agreements.

Tiger Logistics stock traded flat on the BSE at ₹70.75

Top gainers:

Adani Enterprises (1.58%), Shriram Finance (0.90%), SBI (0.32%) 

Top losers:

SBI Life (-4.47%), Infosys (-3.53%), M&M (-3.49%), HDFC Life (-3.45%), Bajaj Finance (-2.92%)

Stocks advanced on BSE at 3 pm on November 28, 2024, were 2,108 against 1,803 stocks that declined, and 121 remained unchanged. Total stocks traded were 4,032. The number of stocks that recorded a 52-week high was 195, and those that hit a 52-week low was 22. A total of 338 stocks traded in the upper circuit, and 220 in the lower circuit.

Emami Realty Ltd has planned to develop 22 mn sq ft (Residential 19 mln sq.ft and commercial 3 million sq.ft.) having revenue potential of ₹15,000 crore.

Stock trades at its upper circuit on the NSE at ₹101.35, higher by 4.99%.

AU Small Finance Bank Limited has entered into strategic bancassurance partnership with Bharti AXA Life Insurance for providing life insurance and financial security solutions to Bank’s customers.

AU Small Finance stock slipped 0.75% on the NSE to ₹585.40.

Life Insurance Corporation of India has issued clarification regarding news report that the company targets 50% in ManipalCigna to enter health insurance space. LIC has said it “evaluates and explores various strategic opportunities on an ongoing basis in various sectors including health insurance segment, for growth, diversification of its business and investment opportunities.” “At this stage, there is no material information / event that require disclosure under Regulation 30 of the Listing Regulations.”

Stock trades at ₹940.70 on the NSE, up 2.66%.

Zinc futures has been appreciating over the past couple of weeks. However, it now seems to be staring at a resistance. At a broader level, the chart shows that the price of zinc futures has been oscillating in a sideways range.

The December expiry zinc futures on the Multi Commodity Exchange (MCX) has largely been fluctuating between ₹270 and ₹292 for nearly two months. At ₹270, a trendline coincides, making it a strong base.

US President-elect Donald Trump is a friend of India and Prime Minister Narendra Modi. Commerce and Industry Minister Piyush Goyal has said discussions can begin on strengthening the bilateral economic partnership once the office is assumed and new appointments are confirmed.

Stock markets experienced a downturn during Thursday’s midday trading on November 28, 2024, with both the Sensex and Nifty recording notable declines amid mixed sectoral movements. 

The Sensex, which opened at 80,281.64, was trading at 79,571.72, down by 662.36 points or 0.83 per cent from its previous close of 80,234.08. Similarly, the Nifty shed 185.05 points or 0.76 per cent, currently hovering at 24,089.85 compared to its previous close of 24,274.90. 

Sensex plummeted 900.51 pts or 1.12% to 79,333.57 as at 12.40 pm, Nifty 50 dipped 261.10 pts or 1.08% to 24,013.80.

Sunflag Iron And Steel Company Limited appointed Brijendra Kumar Tiwari as Chief Executive Officer of the company w.e.f. November 27, 2024

Securities and Exchange Board of India (SEBI) has granted registration to Angel One Investment Managers & Advisors Private Limited, a wholly owned step-down subsidiary of Angel One Limited, to act as a Portfolio Manager and render Portfolio Management Services effective November 27, 2024. 

Angel One stock traded flat on the NSE at ₹2,923.95

Adani Enterprises emerged as the top gainer of the Nifty 50 pack, ATGL shares jump 14%, Adani Energy stocks continue to trade at their upper circuit - outlook as at 12 noon

Top gainers:

Adani Enterprises (3.30%), HDFC Life (0.65%), SBI (0.59%), Coal India (0.44%), SBI Life (0.39%) 

Top losers:

Infosys (-2.79%), M&M (-2.75%), Tech Mahindra (-2.65%), HCL Tech (-2.17%), TCS (-2%)

Stocks advanced on BSE at 12 noon on November 28, 2024, were 2,314 against 1,456 stocks that declined, and 151 remained unchanged. Total stocks traded were 3,921. The number of stocks that recorded a 52-week high was 176, and those that hit a 52-week low was 15. A total of 290 stocks traded in the upper circuit, and 199 in the lower circuit.

Adani Green Energy, Energy Solutions trade at its upper circuit. Catch all the live updates here.

LTTS (-3.48%), Infosys (-2.58%), Tech Mahindra (-2.54%), LTIMindtree (-2.32%)

KEC International Ltd has secured significant turnkey orders worth ₹1,704 crore from Power Grid Corporation of India Ltd (PGCIL) in the Transmission & Distribution (T&D) sector. The orders cover design, supply, and installation of 765 kV transmission lines and gas-insulated substations (GIS).

BOROSIL RENEWABLES LIMITED has appointed Melwyn Moses as Chief Executive Officer of the company w.e.f. December 02, 2024.

Prabhudas Lilladher, one of the most trusted financial services organisations in India, in its latest India Strategy Report stated that the Indian markets are on course but headwinds are yet to peak out. The firm has cut its base case NIFTY target to 27,381 (27,867 earlier) on Nifty EPS cut by 0.5/2.0/1.5 for FY25/26/27 and recommends selective buying on dips for long-term gains.

According to the report, demand conditions remain mixed with steady uptick in rural demand given low base and normal monsoons. However, rising inflation is affecting demand in urban India (yet to play out fully), more so in metros and big cities, which account for ~35% of the total demand in the economy. All hopes now rest on the demand surge in festival and wedding season.

PL Capital expects interest rate cut only post budget as the spike in food inflation to 10.9% (CPI increase to 6.2%) takes it much above comfort level of the RBI. The broking firm suggests stock specific approach given tepid demand scenario. PL Capital believes Capital Goods, Infra, EMS, Hospitals, Pharma, Tourism, Auto, New Energy, E-com, Jewellery are good themes to play at current valuations.

The benchmark index NIFTY50 is down 6% cut since October 12, showing the impact of Rs 72,000 crore FII selling amidst Donald Trump’s victory in US presidential elections, sustained geopolitical uncertainty, strength of USD and softening of Gold prices.

PL Capital highlights three factors that can support growth going, ahead:

1) Results of recent state/Bye elections in Maharashtra, Haryana, UP and Bihar have consolidated the position of ruling NDA which will provide much needed stability and resolve to push for reforms.

2) Trump 2.0 is likely to see some reduction in global wars, lesser geo political uncertainty and stable crude prices.

3) Expected revival in government capex as 2Q capex has turned positive and 1H capex is only 37% of FY25 BE.

PL Universe in 2Q reported Sales, EBIDTA, PAT growth of 3.2%, -2.0%, and -5.0% YoY respectively. Coverage universe posted lower sales/EBIDTA and PBT growth by 1.7/2.3/4.3% than estimates. Ex-BFSI EBIDTA declined 6.1% while PBT declined by 4.3%. Ex- O&G EBIDTA increased 0.1% while PBT declined by 3.6% YoY.

Travel, Consumer Durables, Hospitals and Capital Goods had beat in sales by 1.8-5.3%. Auto, Consumer, Metals, Oil & Gas, Chemicals, Banks and HFC reported decline in sales between 1.9-3.5%.

Banks, Capital Goods, Hospitals, Logistics, Pharma reported more than 19% EBIDTA growth YoY. Building Material, Cement, Media, Oil & Gas reported more than 20% decline in EBIDTA while Auto, consumer and HFC reported single digit EBIDTA decline. Durables, IT services and chemicals reported single digit EBIDTA growth. Consumer, Cement, Building Material, logistics, Travel and Auto reported decline in PBT.

33 out of the 50 NIFTY stocks experienced earnings downgrades for FY25 this quarter, while 41 stocks saw earnings downgrades for FY26.

BEML has informed the exchange that the Chennai Metro Rail Limited contract awarded to BEML for “Design, Manufacture, Supply, Testing, Commissioning, Training of Personnel and Comprehensive Maintenance Contract for Fifteen Years of Standard Gauge Metro Rolling Stock (Electrical Multiple Units) and Depot Machinery & Plant, is valued approximately at ₹ 3658 Crore and the same is in normal course of business.

BEML stock rose 2.88% on the NSE to ₹4,309.40

“We are aware of inaccurate messages circulating on WhatsApp and social media that suggest HDFC Securities is closing its franchisee business due to compliance issues. We want to clarify that our decision to pause partnerships was a strategic move made earlier this year to streamline operations and enhance service quality rather than being related to compliance concerns. HDFC Securities continues to demonstrate consistent growth across all business lines, including our low-cost broking platform, HDFC SKY, and our investment advisory service, HDFC TRU. We remain committed to providing high-quality financial solutions and appreciate our clients’ and stakeholders’ trust and support”.

Vardhman Textiles Limited to increase the processed fabric capacity at Vardhman Fabrics, Budhni, Madhya Pradesh by about 31 million meters p.a. with a total capital outlay of Rs. 350 crore (approx.). 

Vardhman Textiles stock trades flat on the NSE at ₹476.50

NTPC Ltd informed that consequent to commissioning and due approvals, the first part capacity of 55 MW out of 105 MW Shajapur Solar Project (Unit-1) in Shajapur Solar Park, MP of NTPC Renewable Energy Limited (NTPC REL), a stepdown subsidiary of NTPC Limited through its subsidiary NTPC Green Energy Limited, is declared on Commercial Operation w.e.f. November 29. 

NTPC shares trade at ₹365.15 on the NSE, down 1.12%

Tilaknagar Industries Ltd. Unveils Its First Luxury Brandy - Monarch Legacy Edition

Shares trade at ₹420.85 on the NSE, up 2.22%.

Ajmera Realty & Infra India Ltd (ARIIL) has repaid ₹100 crore of its corporate debt

Shares up 2.50% on the NSE to ₹1,071

TCS Partners With IIT KGP to Launch Advanced Research Centre for Innovation in Digital Health, Robotics & Intelligent Systems

TCS stock trades 1.31% lower on the NSE at ₹4,276.

Checkout some of the current IPOs (SME) for the month of November, 2024. Watch the full video to get more details.

Bank Nifty began today’s session slightly higher at 52,390 versus yesterday’s close of 52,302. It rallied after opening and is now at 52,640, up 0.65 per cent, thus outperforming the benchmark Nifty 50, so far.

The advance/decline ratio stands at 11/1, indicating a strong bullish inclination. Punjab National Bank, up 1.7 per cent, is the top gainer.

Nifty 50, the benchmark index, opened today’s session flat at 24,274. It scaled a little higher post opening and is currently hovering around 24,320, up 0.2 per cent.

The advance/decline ratio of Nifty 50 stands at 26/22, a positive indication. Adani Enterprises, up 4.1 per cent, is the top gainer whereas Mahindra & Mahindra, down 1.4 per cent, is the top loser.

Sky Gold, one of a leading gold jewellery manufacturers, has approved the issuance of bonus equity shares in the ratio of 9:1. This means that for every 1 existing fully paid-up equity share held, shareholders will receive 9 new fully paid-up equity shares of ₹10 each.

The strategic move aims to reward shareholders for their continued support while enhancing liquidity in the market, said the company. The increased capital base is expected to improve the company’s financial flexibility and attract greater investor interest.

Dr. Reddy’s launches Toripalimab in India, the first and only immunooncology drug approved for the treatment of nasopharyngeal carcinoma

Stock markets opened on a subdued note on November 28, 2024, with the Sensex and Nifty displaying minimal movement as investors navigated a complex landscape of global economic indicators and domestic market dynamics.

The Sensex opened slightly higher at 80,281.64 from its previous close of 80,234.08 and is currently trading at 80,239.84 as of 9.50 am, up by 5.76 points or 0.01 per cent. Similarly, the Nifty opened at 24,274.15 compared to its previous close of 24,274.90 and is now at 24,282.10, gaining 7.20 points or 0.03 per cent.

Cipla has received an order passed by the GST Authority imposing a penalty of ₹53,09,449 under applicable provisions of the Central Goods and Services Tax Act, 2017 and rules made thereunder.

The order has been passed by GST Authority on the contention that the Company has availed inadmissible TRAN-1 credit. 

Stock slips 0.39% on the NSE to ₹1,485.40

Aircraft lessor Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against SpiceJet before the National Company Law Tribunal (NCLT). 

SpiceJet stock gained 2.12% on the BSE to trade at ₹62.69

HDFC Bank stock hits 52-week high on the NSE at 1,833.80. Currently trades 1.14% higher at ₹1,833. The bank on Wednesday launched a new savings account product directed at the semi-urban and rural population. - PTI

Godrej Properties stock rose 1.13% on the NSE to ₹2,866, following QIP launch to sell equity shares to investors for raising up to ₹6,000 crore to fund its growth plan.

BEML Limited has secured a contract from Chennai Metro Rail Limited for Design, Manufacture, Supply, Testing, Commissioning, Training Of Personnel And Comprehensive Maintenance Contract Of Fifteen Years Of Standard Gauge Metro Rolling Stock (Electrical Multiple Units) And Depot Machinery & Plant valued at approximately ₹2501 Crore.

Shares rise 2.46% on the NSE to ₹4,292.

RateGain Travel Technologies Limited (RateGain) announced that Vietjet Thailand, a subsidiary of the Vietjet group, has selected AirGain, RateGain’s advanced pricing intelligence platform, to gain real-time competitive insights.

Rategain stock gained 1.36% on the NSE to trade at ₹ 709.90

Revolt Motors made its highly anticipated debut in Sri Lanka with the launch of its flagship models, the RV400 and RV400 BRZ.

RattanIndia Enterprises stock surged 4.74% on the NSE to ₹66.95

Aarti Drugs subsidiary i.e. Pinnacle Chile SpA, has incorporated an overseas wholly owned subsidiary in the name of Pharma Go SpA.

Shares up 2.92% on the NSE to ₹468.75

Dr. Reddy’s Laboratories Ltd., along with its subsidiaries, announced the launch of Toripalimab in India.

Stock trades flat at ₹1201.80 on the NSE

Top gainers on the NSE: 

HUL (1.62%), Adani Enterprises (1.34%), ITC (1.18%), Tata Consumer (0.94%), Coal India (0.91%)

Top losers:

Infosys (-1.49%), Tech Mahindra (-1.30%), HCL Tech (-1.05%), Power Grid (-0.85%), TCS (-0.78%)

Crude oil futures traded lower on Thursday morning following an increase in gasoline inventory levels in the US for the week ending November 22. At 9.23 am on Thursday, February Brent oil futures were at $72.16, down by 0.19 per cent, and January crude oil futures on WTI (West Texas Intermediate) were at $68.55, down by 0.25 per cent. December crude oil futures were trading at ₹5803 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹5781, up by 0.38 per cent, and January futures were trading at ₹5792 against the previous close of ₹5769, up by 0.40 per cent.

Sensex traded marginally higher by 80.83 pts or 0.10% at 80,314.91 as at 9.15 am; Nifty 50 was up 27.80 pts or 0.11% at 24,302.70.

Manav Modi, Analyst, Commodity Research, MOFSL

Gold price continue to trade steady in a narrow range, amidst mixed data from the US, volatility in dollar index, increased trade tariff threat and fluctuations in market expectations regarding rate cuts. 

On data front, US GDP was reported in-line with expectations at 2.8% against previous quarter at 3%. US durable goods orders was better than expectations while the core durable was lower. Meanwhile, PCE and Core PCE price index was reported slightly better than expectations. Amidst these updates, dollar index fell from the recent highs, and rate cut expectations also jumped slightly to currently at ~65%. However, continuous updates regarding ceasefire deal between Israel and Hamas and mixed comments from Fed officials is limiting gains and keeping market participants om edge. No major data points are scheduled, also US markets will remain shut on the back of Thanksgiving holiday.

Iron ore futures prices traded within a narrow range on Thursday after investors balanced stronger prospects for China’s steel market with weaker economic data from the world’s top consumer, limiting significant price movement in the market.

The most-traded January iron ore contract on China’s Dalian Commodity Exchange traded 0.32% higher at 789.0 yuan ($108.91) a metric tonne - Reuters

■ JPMorgan forecasts:

* Core CPI at 0.36%, headline at 0.32% for the month, with high shelter costs ongoing.

* Shelter costs like OER and rent will keep growing, though at a decelerating rate, above pre-COVID levels.

* Expect increases in lodging, airfares, and used vehicles, but a modest rise in apparel and a slight drop in communications.

■ Goldman Sachs forecasts:

* Core CPI up 0.31%, headline at 0.19% month-over-month.

* Core increase due to rising auction prices, airfare (+1.0%), and car insurance (+0.5%).

* Shelter costs stable (OER +0.33%, rent +0.28%), health insurance slightly down (-0.1%).

* Core PCE expected at 0.24%.

■ Citi forecasts:

* Core CPI at 0.26%, headline at 0.2% month-over-month.

* Shelter inflation decreasing, with primary rents at 0.25% and OER at 0.30%; recreation and services softening.

* Airfares to drop, health insurance to increase by 1.5% due to data update.

* Used cars up by 0.8%, apparel prices to ease to 0.3% possibly in November or December.

* Core PCE at 0.24%, anticipating strength in some PCE-relevant sectors.

2Q appeared a bit slow on bookings, not on account of demand but on lack of inventory

Approvals remain key to meet FY25 guidance, & new land acquisitions a necessity to sustain growth momentum

Buy on GPL, DLF, PEPL, SOBHA

Hold on OBEROI

Multiple factors in past few months have driven underperformance

RBI regulatory tightening likely to continue

Festive demand & gov’t capex may aid 2H; less optimistic on rate cut benefits

Top picks PFC & Shriram

Sell on Bajaj Finance

Neutral, TP raised to Rs1000 

Says - Significant improvement priced in 

Adjusted EBITDA break-even is likely as of 4Q FY25E

Downgrade to N, TP raised to Rs 6300

Electronics segment’s higher growth guidance, buoyed by an anti-dumping duty for PCBs, is a positive, however a delay in government ordering could keep Railway subsystems under pressure in near term

Buy, TP Rs 720

VAHO remains a weak spot, but no longer constraining overall performance:

Slight margin hit from higher than expected copra inflation

Lower FY25/26/27 EPS est. by 2.4%/1.2%/1%

Jefferies on Colgate

Buy, TP Rs 3570

Investor day takeaway

CEO focus was firmly on growth as aim is to grow ahead of category & FMCG peers.

LY margin was outlier, which should now be range-bound as brand investments will go up

ST concern, however consumption trends weakening

CITI on Colgate

Sell. TP Rs 3000

Mgmt. presentation alluded to softening category growth in urban markets in near-term

Over long-term though, mgmt. reiterated focus on market development in oral care in India

Last date Trade for Before Bonus Today

Easy Trip Planners Ltd

Bonus issue 1:1

Previous day Closing Price – Rs. 32.13

Raghav Productivity Enhancers Ltd

Bonus issue 1:1

Previous day Closing Price – Rs. 1662.5

Spright Agro Ltd

Bonus issue 1:1

Previous day Closing Price – Rs. 21.94

Domestic markets are expected to see a flat opening on Thursday, with a downward bias amidst mixed global cues. Today is the settlement day for derivate contracts on the NSE, so analysts expect individual stocks to see higher volatility. The market has been in consolidation mode in the last few days.

GS on Marico: Maintain Buy on Company, target price at Rs 720/Sh (Positive) 

UBS on PayTM: Maintain Neutral on Company, raise target price at Rs 1000/Sh (Positive) 

Jefferies on Colgate: Maintain Buy on Company, target price at Rs 3570/Sh (Positive) 

CLSA on Bharti Airtel: Maintain Outperform on Company, target price at Rs 1860/Sh (Positive) 

Nuvama on Electronics Mart: Initiate Buy on Company, target price at Rs 237/Sh (Positive) 

Nuvama on Aditya Vision: Initiate Buy on Company, target price at Rs 672/Sh (Positive) 

Nuvama on Brigade: Maintain Buy on Company, target price at Rs 1509/Sh (Positive) 

Nuvama on Prestige: Maintain Buy on Company, target price at Rs 2153/Sh (Positive) 

HSBC on Real Estate: Q2 appeared a bit slow on bookings, not on account of demand but on lack of inventory. Buy on DLF, Godrej Prop, Prestige and Sobha (Positive) 

BofA on Pharma: Neutral rating only on Torrent Pharma in domestic focused stocks (Neutral) 

GS on Colgate: Maintain Sell on Company, target price at Rs 2750/Sh (Neutral) 

Citi on Colgate: Maintain Sell on Company, target price at Rs 3000/Sh (Neutral) 

GS on Amber: Downgrade to Neutral on Company, raise target price at Rs 6300/Sh (Neutral) 

Citi on OLA: Maintain Buy on Company, target price at Rs 90/Sh (Neutral)

Buzzing stocks: NBCC, HUDCO, LIC, Waaree Renewable, Ujjivan SFB, ZF Group, Vedanta, Godrej Properties, PCBL, KEC International, Sonata Software, Indo Amines

Sonata Software: Company wins multi-million dollar modernization deal in Australia (Positive)

Gopal Snacks: Company launched a new product in its wafers category. (Positive)

RCF: Company received approval from the Ministry of Chemicals and Fertilizers to amend its Articles of Association. (Positive)

Ashoka Buildcon: Company bags order worth Rs 192.69 cr from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (Positive)

Padam Cotton: Company announced a 1:1 bonus share issue (Positive)

Biocon: Biocon Biologics partners with Diabetes Africa & St. Paul’s Hospital to improve diabetes care in Ethiopia. (Positive)

PCBL: Andhra Pradesh government approves allotment of 116.62 acres of land in Naidupeta SEZ for the company (Positive)

Vedanta: Moody’s upgrades Vedanta Resources’ corporate family rating to B2 (Positive)

Waaree Renewable: Company gets order worth ₹1,233.5 crore for ground mount Solar PV project of 2012.47 MWp DC capacity (Positive)

HUDCO: Company signs Memorandum of Understanding with NBCC for development of 10 acres of land parcel in Noida (Positive)

KEC International: Company bags order worth ₹1,704 crore in transmission & distribution business from Power Grid Corp (Positive)

Indo Amines: Company announces NCLT approval for the amalgamation of Pious Engineering Pvt Ltd (Positive)

Tulsyan NEC: Company sold 3.5 acres of land in Bangalore for Rs 21.5 crore to FP Seating Pvt. Ltd. (Positive)

Godrej properties: Company seeks to sell 5.5% equity (1.54 crore shares) of the company via QIP to raise up to ₹4,000 crore, sources to CNBC. (Neutral)

Bank of India: Bank raises Rs 5,000 crore through long-term bonds issue (Neutral)

Max India: Company appointed Ms. Trapti as Company Secretary & Compliance Officer, effective Nov 27, 2024. (Neutral)

JTEKT India: Company received a Show Cause Notice from Haryana tax authorities demanding Rs 44.2 Cr in GST (Neutral)

LIC: Company gets GST demand, interest & penalty order of ₹529.6 crore for FY19-20 (Neutral)

Bajaj Holdings: Company acquired 0.1506% stake in Mphasis Ltd for Rs 66.43 Cr. (Neutral)

Dr. Reddy’s: Company received fine notices from German authorities for its subsidiaries’ delayed beneficial owner registration. (Neutral)

Samrat Forgings: Company received a show cause notice from GST authorities for Rs 11.44 Cr for FY20-21 (Neutral)

Dhampur Bio: Company acquired 100% of Sonitron Bio Organics Pvt. Ltd. (Neutral)

ZF Commercial Vehicle: ZF Group sold 4.3% stake in its Indian subsidiary, ZF Commercial Vehicle Control Systems India Ltd. (Neutral)

ICICI Bank: Company received revised GST demand orders totaling INR 39.6Cr from Bihar (Rs 25 lakhs and Maharashtra’s 37.8 Cr. (Neutral)

Adani Green energy: Adani Saur Urja incorporates wholly-owned arms AHE2L & AHE3L on November 27. (Neutral)

Jet Airways: NCLT Appoints Satish Kumar Gupta as The Liquidator Of Jet Airways (India) (Neutral)

Axis Bank: Clarifies on SEBI order restraining ACL from taking up any new assignments in capacity of merchant banker, arranger or underwriter. (Neutral)

N.A.

U.S. Market Holiday

TENT EURO German Prelim CPI m/m (Expected: -0.2% versus Previous: 0.4%)

(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 107332.16 + 7467.64 Total: 114799.8

F&O Volume: 635252.87 + 757342.93 Total: 1392595.8

Provisional Cash

FII/FPI: NET BUY: +7.78 

(13027.06 - 13019.28) 

DII: NET BUY: +1301.97 

(10230.12 - 8928.15)

Here’s an interesting stock idea: The stock that we have today is Power Grid Corporation of India.Last week, it bounced off a demand zone. Backed by good volumes, the stock broke out of a resistance on Monday, a positive sign. The prevailing chart set up hints at further rally in price.Check out the latest episode of bl.Today’s Pick to learn more.

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI