Share Market Highlights 4 December 2024: Sensex climbs for fourth consecutive day, boosted by bank stocks

The rupee slumped to its all-time low of 84.76 (provisional) against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices.

Forex traders said a positive trend in domestic equity markets and foreign fund inflows supported the local unit at lower level.

Read full story here

Panache Digilife Limited enters into Manufacturing and Supply agreement for CCTV and NVR Devices

Panache Digilife stock closed 2% positive on the NSE at ₹233.45

Infosys announced a strategic collaboration with Kardex, a leading global provider of intralogistics solutions, including automated storage solutions and material handling systems, to transform its business operations using SAP S/4HANA.

Infosys shares closed flat on the NSE at ₹1,892.

The Sensex closed 110.58 points higher (0.14%) at 80,956.33, while the Nifty 50 ended nearly flat at 24,467.45, up 10.30 points (0.04%). On the NSE, the top gainers were HDFC Life (2.52%), HDFC Bank (1.67%), Bajaj Finserv (1.42%), Apollo Hospitals (1.38%), and NTPC (1.37%), while the top losers included Bharti Airtel (-2.28%), Cipla (-2.21%), Bajaj Auto (-1.77%), Tata Motors (-1.63%), and Adani Ports (-1.62%).

Zaggle stock declined 1.03% on the NSE to trade at ₹501.

Top gainers on the NSE as at 3 pm:

HDFC Life (2.51%), HDFC Bank (1.88%), Apollo Hospitals (1.38%), NTPC (1.28%), TCS (1.27%)

Top losers:

Bharti Airtel (-2.25%), Cipla (-2.23%), Bajaj Auto (-1.77%), Tata Motors (-1.62%), Hero Motocorp (-1.60%)

Stocks advanced on BSE at 3 pm on December 4, 2024, were 2,276 against 1,636 stocks that declined, and 127 remained unchanged. Total stocks traded were 4,039. The number of stocks that recorded a 52-week high was 247, and those that hit a 52-week low was 11. A total of 429 stocks traded in the upper circuit, and 185 in the lower circuit.

Eicher Motors informed that Royal Enfield has commenced operations of its new CKD (Completely Knocked down) assembly facility in Thailand. 

Shares rise 2% on the NSE to trade at ₹737.85.

Alembic Pharmaceuticals Limited (Alembic) announced that it has received Tentative Approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7% (OTC). 

Nazara and Lysto have signed a Letter of Intent to launch The Growth Protocol, an L1 infrastructure layer, purpose-built for digital marketing and growth applications on the blockchain. 

Shares currently trade 2.83% higher at ₹516.05, after opening at ₹510 following Q2 results.

Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India Limited, has announced a significant expansion of its Kandaghat resort, adding more than 100 room keys with plans to introduce an additional 40 rooms by Q1 FY26.

The shares of Mahindra Holidays & Resorts India Limited were trading at ₹390.20 up by ₹7.20 or 1.88 per cent on the NSE today at 12.52 pm.

Read full report here

Track the C2C Advanced Systems Share Price Live here

Pritika Group, a leading North Indian precision machined components manufacturer, has commenced commercial production of new components for a major multinational tractor manufacturer, the company announced today. Read more

Cyient DLM has signed a Memorandum of Understanding (MoU) with Arcedo Systems, a premier provider of integrated renewable energy solutions, to establish a 500 kWp rooftop solar power plant at Cyient DLM’s Mysore facility.

Cyient DLM shares declined 1.28% on the NSE to trade at ₹701.20

Suzlon Energy Limited has expanded its partnership with Jindal Renewables by securing an additional 302.4 MW wind power project in Karnataka’s Koppal region. The project aims to support green steel production and brings Suzlon’s total order from Jindal Renewables to 702.4 MW, marking the company’s largest commercial and industrial (C&I) order from a single customer. Read more

PB Fintech, a parent entity that operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has received Board approval to incorporate a wholly owned subsidiary (WOS) to carry on the business of healthcare services. Read more

L&T Technology Services Limited has signed a multi-year agreement, estimated at $50 million, with a global network solutions firm. As part of this agreement, it will provide Product Integration Services in North America, ensuring support for customers across the region. Read more

LTIMindtree has announced a strategic partnership and investment in Voicing.AI, an artificial intelligence start-up specialising in customer engagement solutions. The technology firm revealed the collaboration today, highlighting the start-up’s advanced AI capabilities. Read more

Top gainers: HDFC Life (1.77%), HDFC Bank (1.46%), SBI Life (1.11%), TCS (1.08%), Apollo Hospitals (0.80%)

Top losers: Tata Motors (-1.98%), Power Grid (-1.97%), Bharti Airtel (-1.94%), Eicher Motors (-1.85%), Adani Ports (-1.81%)

Of 3,936 stocks that traded on the BSE at 12 noon on December 4, 2024, 2,328 advanced against 1,460 stocks that declined, and 148 remained unchanged. were. While 222 stocks recorded a 52-week high, 10 hit a 52-week low. A total of 342 stocks traded in the upper circuit, and 169 in the lower circuit.

Bajaj Finserv AMC has launched the Bajaj Finserv Healthcare Fund, an open-ended equity scheme that seeks to create long-term growth by investing in health and wellness-linked sectors. The fund opens for subscription on December 6, and the New Fund Offer period ends on December 20, 2024. 

The shares of Cipla Limited were trading at ₹1.5 lakh down by ₹21.85 or 1.42 per cent on the NSE today at 11 am. Pharmaceutical major Cipla Limited disclosed a GST penalty order from the Principal Commissioner of Central GST Commissionerate, Jaipur on December 2, 2024. 

The tax authority has imposed a penalty of ₹10.95 lakh against the company for alleged GST liability irregularities. Read more

Aurobindo Pharma Ltd, or its subsidiaries, are in no way connected with the ownership or operations of Kakinada Seaports Ltd and Kakinada SEZ Ltd, including Auro Infra Private Ltd. 

Shares trade flat on the NSE at ₹1,258.85

Nifty Bank index has risen to 53,000 in line with our expectation. The index is currently trading at 53,033, up 0.63 per cent. The advance/decline ratio is at 12:0. This is very positive. It indicates that more rise is possible during the day. Read more

The shares of Inox Wind Limited were trading at ₹203.64 down by ₹2.92 or 1.41 per cent today on the NSE at 10.42 am. Read more

Despite inflationary pressure, the services sector performed well in November, a private survey report released on Wednesday showed. The survey result, known as the Purchasing Managers’ Index (PMI), came in at 58.4 in the said month. Read more

The rupee traded flat against the US dollar at 84.68 on Wednesday morning as foreign inflows offset the impact of a strengthening greenback.

A strengthening dollar against overseas currencies and a rise in Brent crude in international markets capped further gains in the local unit, while a positive trend in domestic equity markets prevented a drop in the currency. Read more

Suzlon and Jindal Renewables expand partnership with additional 302.4 MW Wind project to accelerate green steel production

Suzlon Energy shares up 1.16% on the NSE to trade at ₹66.16.

Swiggy clarified that the report on expanding 10-minute food delivery service Bolt to over 400 cities, was actioned in the ordinary course of business. Shares rise 2.48% on the NSE to ₹514.30

The shares of Reliance Power Limited were trading at ₹41.09 up by ₹1.95 or 4.98 per cent on the NSE today at 10.20 am. Solar Energy Corporation of India (SECI) has withdrawn its debarment notice against Reliance Power Limited, enabling the company to participate in future solar tenders immediately, the company disclosed on Monday. Read more

Nifty 50 December Futures (24,595)

Nifty 50 is trading strong. The index is currently trading at 24,540, up 0.34 per cent. The advances/declines ratio is at 31:19. This is very positive. Read more

Divi’s Laboratories said a penalty of ₹6 lakh each under Section 13(1) of FEMA, 1999 on the Company and its Chief Executive Officer has been levied for procedural delay in submission of Annual Performance Reports in respect of investments in its overseas subsidiaries [i.e. Divi’s Laboratories Europe AG and Divis Laboratories (USA) Inc.] for the years 2005-06 to 2010-11, 2013-14 and 2014-15.

Shares flat on the NSE at ₹6,218.05

Rail Vikas Nigam Ltd has received a Letter of Acceptance from East Central Railway for “Design, Supply, Erection, Testing & Commissioning of Traction Sub Stations in the Gomoh - Patratu Section,” for ₹186.76 crore. 

RVNL shares up 1.42% on the NSE to trade at ₹443.95.

HAL said the Defence Acquisition Council (DAC) accorded approval for acceptance of necessity (AON) for procurement of 6 advanced light helicopters (ALH).

Shares trade flat on the NSE at ₹4,524.

Track the share price movements of Apex Ecotech and Abha Power and Steel Live here

Granules India says its OAI classification does not impact the ongoing manufacturing, distribution, or sale of existing products from the site. However, it may impact review of pending submissions from Gagillapur for approval of new products, until the OAI status is resolved. 

Stock trades flat on the NSE at ₹538.55

Gold prices traded steady after inching higher in the yesterday’s session, on one end, strong U.S. jobs data hinted at a cautious approach to rate cuts, while a softer dollar and easing Treasury yields capped losses as markets awaited further economic cues. The number of job openings on the last business day of October stood at 7.74 million higher than the expectations of 7.48 million, the US Bureau of Labor Statistics (BLS) reported. In an immediate reaction bullion did fall however, it quickly steadied as well. There no major change in the rate cut expectations, Traders are currently pricing in a 74% chance of a 25-basis-point December rate cut. The 10-year Treasury yield dropped to more than a month’s low, and the dollar was also down 0.3%, supporting bullions. Along with Geo-political tensions in Middle East, disturbance in South Korea also led to some safe haven buying. South Korea’s president declared a martial law mentioning that opposition democratic party has paralyzed state activities. Investors’ focus turns to the ADP employment report and Fed Chair Jerome Powell’s speech on Wednesday, ahead of Friday’s payrolls report.

Reliance Power shares surged 4.98% on the NSE to trade at ₹41.09. The Solar Energy Corporation of India (SECI) on Tuesday said it has withdrawn the debarment notice issued to Reliance Power with immediate effect.

Top gainers: NTPC (1.82%), HDFC Life (1.82%), SBI Life (1.72%), BEL (1.47%), Britannia (1.01%)

Top losers: Bharti Airtel (-0.92%), Cipla (-0.54%), Adani Enterprises (-0.46%), Reliance (-0.36%), ICICI Bank (-0.32%)

Crude oil futures traded marginally higher on Wednesday morning after the US imposed sanctions on 35 entities and vessels that play a critical role in transporting Iranian petroleum to foreign markets. At 9.18 am on Wednesday, February Brent oil futures were at $73.66, up by 0.05 per cent, and January crude oil futures on WTI (West Texas Intermediate) were at $69.96, up by 0.03 per cent. December crude oil futures were trading at ₹5940 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹5929, up by 0.19 per cent, and January futures were trading at ₹5924 against the previous close of ₹5920, up by 0.07 per cent.

Jefferies on Supreme Ind: Maintain Buy on Company, target price at Rs 6450/Sh (Positive)

Investec on JSW Infra: Maintain Buy on Company, target price at Rs 370/Sh (Positive)

Citi on Cipla: Maintain Buy on Company, target price at Rs 1800/Sh (Positive)

Nomura on Oberoi Real: Initiate Buy on Company, target price at Rs 2500/Sh (Positive)

CLSA on Zomato: Maintain Outperform on Company, target price at Rs 370/Sh (Positive)

Citi on Financials: Expectations mount regarding a potential CRR cut and improved prospects for repo rate reduction. CRR cut can be viewed favorable for HDFC Bank, Axis Bank, Federal Bank and Bank of Baroda (Positive)

Goldman Sachs on Cement: Outlook FY26 - Demand to pick up, new supply to limit pricing/profitability improvement. Buy Call on UltraTech (Positive)

MS on Energy Stocks: Expects a new wave of LNG supply growth to start in 2025 at measured pace. (Neutral)

Macquarie Asia Strategy: Across measures, both absolute and relative, forward multiples in India are 2 standard deviations above the long-term average (Neutral)

Jefferies on GAIL: Maintain Buy on Company, target price at Rs 235/Sh (Neutral)

LTIMINDTREE USA INC., A UNIT HAS SIGNED A DEFINITIVE AGREEMENT WITH VOICING.AI, AN AUTONOMOUS PLATFORM OPERATIONS SOLUTION, TO INVEST UPTO USD 6M IN CONVERTIBLE INSTRUMENTS 

INR has depreciated against the US Dollar but appreciated against the Developed Markets and Key Emerging Markets. This reflects the strength of the Indian economy. The market is less worried about Trump’s impact on the Indian economy. 

All currencies have depreciated against the US Dollar. USD has become relatively stronger against both Developed Countries and Emerging Markets (Including India) in the last two months (with the US presidential election)

* Out of the 12 developed countries US Dollar has appreciated against all the countries on a 2-month basis, the same case is with India except for the Indian Rupee depreciating against Hongkong Dollar, Median appreciation relative to the US Dollar was 4.2% v/s Developed Markets. Contrastingly, the Indian Rupee has appreciated by 3.2% against the Developed Markets.

SFC Environmental Technologies Limited is an environmental technology company offering efficient technologies and comprehensive engineering solutions in the field of wastewater treatment and solid waste treatment has filed its draft red herring prospectus (DRHP) with SEBI to raise funds through its initial public offering (IPO).

The IPO with the face value of ₹ 2 per equity share, is a mix of fresh issue of up to ₹ 185 Crore and an offer for sale up to 10.82 million equity shares by Promoters and Other Selling Shareholders.

The Offer for Sale consists of shareholders selling up to 12.65 lakh equity shares by Saketchandrasingh Pratapsingh Dhandoriya, up to 6.88 lakh equity shares by Sandeep Sambhaji Parab, up to 27.12 lakh equity shares by Sandeep Sudhakar Asolkar (held jointly with Priya Sandeep Asolkar), and other selling shareholders.

The company intend to utilize a portion of the net proceeds to the extent of Rs 54.95 crore for prepayment of all or a portion of certain outstanding borrowings availed by the Company and its wholly owned Subsidiary, namely Vasudha Waste Treatment Private Limited, Rs 90.69 crore for funding its working capital requirements, and general corporate purposes.

Mutual Fund (MF) debt exposure to NBFCs, which includes Commercial Papers (CPs) and Corporate Debt, has now remained above the Rs 2 lakh crore level for more than half a year, reaching Rs 2.33 lakh crore in October 2024. This marks a y-o-y increase of 47.1%, along with a marginal sequential rise of 0.3%. Moreover, CPs have remained above the one lakh crore mark for almost a year, currently amounting to Rs 1.22 lakh crore.

The credit exposure of banks to NBFCs stood at Rs 15.4 lakh crore in October 2024, indicating a 6.4% y-o-y growth. On a month-on-month (m-o-m) basis, the amount rose by 0.5%. However, the proportion of NBFC exposure relative to aggregate credit decreased from 9.4% in October 2023 to 8.9% in October 2024. 

In October 2024, mutual funds’ debt exposure to NBFCs remained at the same level sequentially at 15.2% of “Banks’ advances to NBFCs,” up from 11.0% in October 2023

Cupid Breweries and Distilleries Limited (BSE: 512361), (formerly known as Cupid Trades & Finance Limited), on occasion of successful listing of its shares on the Bombay Stock Exchange (BSE) with the open market price of Rs. 24.45 under the Scrip ID “CUPIDALBV”, as per BSE Order dated November 28, 2024, which is a very significant milestone in the Company’s journey.

Erramilli Venkatachalam Prasad and Samavedam Sri Venkata Rajeswara Rao ringing the bell

With ‘SPIRIT’ to Create Wealth as Passion, Focus on Sustainable Growth, Brand Development, Expanding Product Reach Across National & International Markets, well-articulated Business model, Offering the Best Quality AlcoBev Products, Produced in house with World Class Equipments, to Up-lift the “SPIRIT” of Cupid alcobev Consumers with Blended Spirits of Consistency, Continuity and Commitment.”

Defence Stocks: DAC approves 5 capital acquisition proposals worth ₹21,772 crore to augment defence preparedness (Positive)

RVNL: Company has received a contract from east central railway for upgrading the electric traction system in the Gomoh-Patratu section, valued at Rs 186.77 crore. (Positive)

VL Infraprojects: Company secured a ₹15.24 crore work order from Mayfair Supreme Private Limited (Positive)

Nitiraj Engineers: Company authorized as Drone-Remote Pilot Training Organization (RPTO) by DGCA. (Positive)

Artson: Company has taken additional premises adjacent to its existing Nashik facility (Positive) 

Rappid Valves: Company received ₹403.90 lakh in purchase orders from various companies for industrial valve supply. (Positive)

Wipro: Company partners with Netskope to offer cybersecurity optimisation advisory services (Positive)

Steelman Telecom: Company receives Rs 147 crore contract from Reliance Jio for maintaining indoor small cell and Wi-Fi networks for three years. (Positive)

Adani Wilmar/Patanjali: India’s November edible oil imports rise 12% m/m to 1.6 million metric tons, highest in four months. (Positive)

Kaynes: Company acquires a 54% stake in Sensonic GmbH. (Positive)

R Power: Solar Energy Corporation lifts Reliance Power debarment notice (Positive)

SPML Infra: credit rating assigned by ICRA for Rs 477 Cr long-term fund-based term loan rated ICRA BBB-(Stable). (Neutral)

Swiggy: Company’s INSTAMART business is witnessing heightened degree of competitive action, INSTAMART aims to more than double active dark store area YoY, to 4 MN SQ ft by March-25 (Neutral)

Mphasis: Company received the 2024 AWS Partner Award for Industry Partner of the Year in Travel and Hospitality (Global). (Neutral)

Aditya Birla Capital: Company invested Rs 300 Cr in its wholly-owned subsidiary, Aditya Birla Housing Finance Ltd, through a rights issue. (Neutral)

ONGC: Company increased its stake in subsidiary OPAL from 94.57% to 95.69% by acquiring shares worth Rs 4,906.20 crore. (Neutral)

IEX: Traded 9,689 MU electricity in Nov’24, a 15.7% YoY rise. DAM price was Rs 3.30/unit, down 17.3% YoY. RTM volume increased by 28% YoY to 3,019 MU. (Neutral) 

M&M: Company in talks with IndiGo to find an amicable solution. (Neutral)

Heranba Industries: Company announced the resignation of Mr. Ajit Singh Gujral, Head of Strategic Development for Crop Protection (Neutral)

Hikal: Company announced the resignation of Mr. Ketan Karkhanis (Asst. VP-IT) and Mr. Rakesh Ganorkar (VP-R&T-Pharma CDMO) (Neutral)

Wonderla: QIP opens, approves floor price for issue at Rs 829.74/ share. (Neutral)

PB Fintech: Board Approves Incorporation Of Wholly-owned Subsidiary-PB Healthcare. (Neutral)

Honasa Consumer: Promoter Varun Alagh raises stake to 31.93% with ₹4.5-crore investment (Neutral)

3i Infotech: Company’s Saudi subsidiary faces Rs 25.73 Cr tax issue (Negative)

Epack: Bhiwadi facility was searched by Jaipur Customs on Dec 2, 2024. (Negative)

Chavda Infra: Company’s registered office and promoters’ residences underwent an Income Tax Department search (Negative)

JSW Infra, with its network of major and non-major ports/ terminals along India’s West and East coasts, is on track to deliver 20%+ rev/ EBITDA CAGR over FY24-30E. This growth will be fuelled by third-party cargo growth at new terminals over FY24-27E, followed by robust growth in JSW Group traffic FY27E onwards. This is based only on announced projects and there is significant optionality of new concessions given a) GoI’s aggressive port privatisation targets, b) management’s opportunistic approach, and c) its robust balance sheet. With a long residual concession life and strong growth visibility (given expansion plans of JSW Group), JSW Infra’s prem valuations look justified to us. Initiate with BUY rating.

Initiate at BUY. JSW Infra’s FY27E val multiples prima facie look rich, at a premium to peers (Fig 49). We think this is justified given a) the significantly longer concession period, b) growth underpinned by expansions planned by group cos (esp post FY27E). We ascribe 18x to FY30E EBITDA and discount it back to arrive at our TP of Rs370/sh. Initiate with BUY.

Pricol Ltd (Pricol): SACL Acquisition - growth at right valuations - Company Update

CMP: Rs496; TP: Rs645; Rating: BUY

~ We raise our TP on Pricol to Rs645 (previously Rs580), as we account for earnings from the recent Sundaram Auto Components Ltd (SACL) acquisition and reiterate BUY. 

~ This acquisition enables Pricol to focus on injection molding as a new vertical and has tremendous growth potential by virtue of new customer additions, courtesy well-established relationships in the legacy business. 

~ We believe that the acquisition valuation (~12x FY24 PE ratio) is justified, given the presence of fast growing TVS Limited, relatively lower margins and its propulsion agnostic products. 

~ The acquisition has led to an upgrade in the pre-acquisition earnings by 10% each in FY26/27E. 

~ With 2w contributing ~65% to Pricol’s total revenues, robust demand in 2Ws presents a favorable outlook for the company to clock volume growth supported by a new portfolio of plastic components along with premiumization.

Detailed report: https://bit.ly/3OA0ewF

Disclaimer: https://bit.ly/39derdz

Regards,

Sahil S | Smit S @ Monarch Networth Capital Ltd.

[12/3, 8:44 PM] +91 99675 49032: RELIANCE POWER LTD.

Update Type: General

🤖 AI Summary: Reliance Power Limited has informed that the debarment notice issued by Solar Energy Corporation of India Limited has been withdrawn, allowing the company and its subsidiaries (except Reliance NU BESS Limited) to participate in tenders issued by SECI.

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:30 PM Tuesday 03 December 2024

Atul Auto: Jitendra Adhia, VP-Finance

Our Target Is To Reach 40,000 Units This Year And Around 50,000 Units Next Year: Atul Auto

https://www.youtube.com/watch?v=gIQI2G2LohU

Bajaj Auto: Rakesh Sharma, ED

Expanding The Triumph Brand And Have Recently Launched The Triumph T4: Bajaj Auto

https://www.youtube.com/watch?v=be5t6fJcMoM

MAP MY INDIA: Rakesh Verma, CMD

Will Not Be Utilising Any Of MapMyIndia’s Funds For B2C Biz: Rohan Verma, CEO, CE Info Systems

https://www.youtube.com/watch?v=G3yRp6mylhI

HDFC Bank: Parag Rao, Country Head-Payments

Witnessed A Slowdown In Unsecured Lending Seg, Expect Strong Growth In Credit Card Seg: HDFC Bank

https://www.youtube.com/watch?v=3QUdBXmSZ98

Keystone Realto: Boman Rustom Irani, CMD

Keystone Realtors: Banking Potential New Maharashtra Housing Policy? Boman Irani

https://www.youtube.com/watch?v=YPd2-_npeQE

Nucleus Softwar: Vishnu Dusad, CEO & MD

Bank Muscat Is Now A Beneficiary Of Our Advanced Product Finn One Neo: Nucleus Software

https://www.youtube.com/watch?v=PgkpsC1MD3o

Nazara Techno: Nitish Mittersain, Jt. MD

Have An Established Playbook On M&A Where We Acquire Cos & Scale Them: Nazara Technologies

https://www.youtube.com/watch?v=pg0UOOpMuo8

Signature Globa: Rajat Kathuria, CEO

Have Completed Sales Worth ?5,800 Cr In H1FY25: Signature Global

https://www.youtube.com/watch?v=z-AQvI3K27I

VST Tillers: Antony Cherukara, CEO

Expect Growth In The Range Of 15-20% For Tractor Segment: VST Tillers Tractors

https://www.youtube.com/watch?v=yFhFJsxkmro

Aster DM Health: Alisha Moopen, Dy-MD

Aster DM-Care Hospitals Deal Is EPS Accretive & Will See Margin Improve Going Forward: Aster DM

https://www.youtube.com/watch?v=JvZOR-T__Ng

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

Markets are expected to open on a positive note on Wedneday amid mixed global cues. Gift Nifty at 24,525 against Nifty futures value of 24,428 signals a gap-up opening of 100 points. “We expect markets to gain some momentum in the near term on the back of positive global cues, optimism around enhanced government spending and favourable monetary policy changes by the RBI,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Read more

* GRANULES

* MANAPPURAM

* RBLBANK

07:15 China Service PMI (Expected: 52.4 vs Previous: 52.0)

10:30 India Service PMI (Expected: 59.5 vs Previous: 58.5)

14:30 Euro Service PMI (Expected: 49.2 vs Previous: 49.2)

14:30 U.K. BOE Gov Bailey Speaks

15:00 U.K. Service PMI (Expected: 50.0 vs Previous: 50.0)

18:45 U.S. ADP Non-Farm Employment Change (Expected: 159k vs Previous: 233k)

19:00 Euro ECB President Lagarde Speaks

20:15 U.S. Final Services PMI (Expected: 57.0 vs Previous: 57.0)

20:30 U.S. ISM Services PMI (Expected: 55.5 vs Previous: 56.0)

00:15 U.S. Fed Chair Powell Speaks

Solar Energy Corporation of India Ltd on Tuesday said it has withdrawn the debarment notice issued to Reliance Power, enabling the Anil Ambani-led firm to participate in future tenders of the public sector entity. Read more

The short-term outlook is bullish for Bank of India. The stock has been getting good support around ₹107 over the last week. The price action on the daily chart indicates that the stock is getting good buyers around ₹107. A moving average crossover on the daily chart also strengthens the bullish case. These indicators suggest that fresh buyers can come in at lower levels and limit the downside. Good support is in the ₹110-₹107 region. Read more

Indices:

* Nifty 50: 24,457 (+0.75%)

* Sensex: 80,845 (+0.74%)

* India VIX: 14.37 (-2.24%)

📈 Sectoral Highlights:

Top Gainers:

* Nifty PSU Bank (+2.60%)

* Nifty Media (+2.53%)

* Nifty Metal (+1.23%)

Top Losers:

* Nifty Pharma (-0.02%)

* Nifty FMCG (-0.39%)

🚀 Top Movers:

Gainers:

HEG ₹500 (+14.10%)

Graphite India ₹570 (+9.16%)

Loser:

Granules India ₹534 (-10.23%)

📰 Key News:

* Ola Electric ₹98.54 🔼 5.43%: Plans 4,000 new stores in India.

* TVS Motor ₹2,556.20 🔼 2.52%: Sundaram Auto Components sells division for Rs 215.3 crore.

* Gland Pharma ₹1,812.45 🔼 1.82%: US FDA approval for Latanoprost solution.

* PFC Consulting ₹501.15 🔼 1.09%: New subsidiary for renewable energy in Gujarat.

* Nazara Technologies ₹1,018 🔼 0.73%: Acquires 60% stake in Funky Monkeys.

* Solar Industries ₹10,479 🔻 0.58%: Secures Rs 2,039 crore defence orders.

* Indoco Remedies ₹320.40 🔻 0.50%: Partners with Clarity Pharma for UK product launch.

* ITC ₹472.22 🔻 0.97%: Shares fall after proposed GST hike on ‘sin goods’.

03 December 2024 Rs. In Crs.

Turnover: (NSE + BSE)

Cash Volume: 115560.45 + 8173.53 Total: 123733.98

F&O Volume: 425876.5 + 1231552.87 Total: 1657429.37

Provisional Cash

FII/FPI: NET BUY: +3664.67 

(22,450.00 – 18,785.33) 

DII: NET SELL: -250.99 

(14,553.16 – 14,804.15)