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Nifty 50 closed at 24,194.50 (-27.4, -0.1%) , BSE Sensex closed at 80,004.06 (-105.8, -0.1%) while the broader Nifty 500 closed at 22,562.45 (9.0, 0.0%). Market breadth is in the green. Of the 2,256 stocks traded today, 1,332 were gainers and 905 were losers.

Nifty 50 erased gains in the afternoon session to close flat at 24,194.5 points. The Indian volatility index, Nifty VIX, closed flat at 15.3 points. Adani Enterprises closed deep in the red as TotalEnergies SE announced that it will not make new investments in Adani Group companies amid the US federal indictment.

Nifty Midcap 100 closed flat, while Nifty Smallcap 100 closed higher. Nifty IT and BSE Telecom were among the highest-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.7%.

Most European indices are trading lower. Major Asian indices closed in the red. US index futures are trading mixed, indicating a cautious start to the trading session after Trump indicated a potential increase in trade tariffs in January. Analog Devices, Dell Technologies, CrowdStrike Holdings, Workday, and Autodesk are set to report their earnings later today.

• Relative strength index (RSI) indicates that stocks like Coforge, Mastek, The Ramco Cements, and Fortis Healthcare are in the oversold zone.

• AstraZeneca Pharma secures approval from the Central Drugs Standard Control Organisation (CDSCO) for importing and distributing Olaparib film-coated tablets (100 mg & 150 mg), branded Lynparza, for an additional indication in India. The approval allows for sale and distribution under Form CT-20.

• HCL Technologies partners with American chipmaker Intel to launch a new enterprise data security service, HCLTech DataTrustShield, to improve the protection of sensitive information in cloud environments.

• Sagility India surges as its Q2FY25 revenue grows 21.1% YoY to Rs 1,325 crore. Net profit rises 235.6% YoY to Rs 117.3 crore, helped by lower finance costs and depreciation & amortisation expenses. It appears in a screener of stocks with the best results last week in YoY net profit and revenue growth.

• Schloss Bangalore, the operator of the Leela hotel chain, plans to raise Rs 5,000 crore through an initial public offer (IPO), which consists of a fresh issue worth Rs 3,000 crore and an offer for sale of Rs 2,000 crore. Brookfield, an alternative asset manager, holds a 99.9% stake in Schloss Bangalore and is looking to offload a stake.

  #SourcesSay | Leela hotel chain operator starts investors roadshow; Schloss Bangalore plans Rs 5,000 Cr IPO, including Rs 3,000 Cr new equity and Rs 2,000 Cr offer for sale.@anujosh_aj#LeelaHotels#IPOpic.twitter.com/3uYCGt3qBL

  — ET NOW (@ETNOWlive) November 26, 2024

• Geojit BNP Paribas upgrades Tube Investments of India to 'Buy' from 'Accumulate' but lowers target price to Rs 4,169 per share. This indicates a potential upside of 21%. The brokerage believes the company's plans to expand beyond the automotive sector will create a diversified revenue stream, helping in growth. It expects the firm's revenue to grow at a CAGR of 15.8% over FY25-26.

• ACME Solar Holdings is falling as its net profit declines 60.4% YoY to Rs 15.3 crore in Q2FY25 due to higher employee benefits expense. Revenue decreases 19.7% YoY to Rs 259.6 crore during the quarter, impacted by the electricity segment. The company appears in a screener of stocks with declining net cash flow.

• InterGlobe Aviation reportedly enters a partnership with Japan Airlines (JAL) to expand JAL's access to 18 locations in India. Currently, the Japanese airline only operates out of Delhi and Bangalore.

• India’s domestic air traffic grows 5.3% YoY in October to 1.4 crore passengers, according to the data released by DGCA. IndiGo’s market share rises to 63.3% in October, while that of Air India (including Air India Express) stood at 19.4% and Vistara at 9.1%.

  IndiGo tops domestic air traffic with 63.3% market share in October 2024, Air India and Vistara follow close behind https://t.co/DetRnBB0wc

  — Financial Express (@FinancialXpress) November 26, 2024

• L&T Finance partners with Amazon Finance India to develop innovative credit solutions, enhancing affordability for Amazon customers and merchants. The partnership aims to support L&T Finance’s diversification strategy and improve seamless credit availability for consumers.

• Bharat Global Developers rises to a new all-time high of Rs 1,544.7 as it secures an order worth Rs 156 crore from UPL Agro to supply 3 lakh tonnes of oil-grade groundnuts.

• KEC International secures orders worth Rs 1,114 crore across various businesses. The transmission & distribution segment bags orders for a 400 kV transmission line in Oman and supply orders in the Americas, while the railways business secures an order for metro overhead electrification works in India.

• Fitch Ratings places certain Adani Group companies and their issued securities on rating watch negative and revises the outlook on others from stable to negative. This comes after the indictment of certain Adani Green Energy board members by the US Securities and Exchange Commission and the Department of Justice. The agency also places Adani Ports and Special Economic Zone's long-term foreign-currency IDR rating of 'BBB-' on review.

  Fitch Ratings has placed some Adani Group companies and securities issued by them on rating watch negative and revised the outlook on some to negative from stable.#AdaniGroup#FitchRatingshttps://t.co/lLKFirKzxz

  — businessline (@businessline) November 26, 2024

• Bharat Heavy Electricals rises as its consortium with Hitachi Energy India secures a contract from Power Grid Corporation of India (PGCIL) for two high-voltage direct current (HVDC) terminal stations. This order comes under the Khavda Renewable Energy Zone Phase V project, enabling renewable energy transfer from Gujarat to Maharashtra across 1,200 km.

• KRN Heat Exchanger and Refrigeration acquires an additional 1.2 crore shares in its subsidiary, KRN HVAC Products, for Rs 235.8 crore through a rights issue.

• Adani Enterprises is falling sharply as TotalEnergies SE announces that it will not make new investments in Adani Group companies amid the US federal indictment against the company.

• UBS initiates coverage on Swiggy with a ‘Buy’ rating and target price of Rs 515. The brokerage believes the company is well-positioned for growth and is currently trading at a 35% discount to Zomato. UBS notes that Swiggy is narrowing the gap with Zomato in terms of margins and scale in the online food delivery segment. It notes the progress in quick commerce but sees room for improvement.

  #MarketsWithMC | ????Swiggy shares rise 6% as UBS initiates coverage with 'buy', 26% upside seen
  
  Here's all the details ????https://t.co/valcyAcNxa#Swiggy#StockMarket

  — Moneycontrol (@moneycontrolcom) November 26, 2024

• Kalyan Jewellers India falls as 72.7 lakh shares (0.7% stake), worth approximately Rs 508 crore, change hands in a bulk deal on Monday at an average price of Rs 698.6 per share. UBS Principal Capital Asia is the seller in the transaction.

• Setu Securities sells a 1% stake (4.2 lakh shares) in Protean eGov Technologies worth Rs 72 crore via a bulk deal on Monday. Ashmit Kabra offloads a 0.6% stake (2.4 lakh shares) worth Rs 40.4 crore in the company.

• Vodafone Idea surges more than 15% as the Union Cabinet reportedly approves waiving the bank guarantees owed by telecom companies for spectrum purchases till 2022.

• JP Morgan initiates an 'Overweight' rating on Hindustan Aeronautics with a target price of Rs 5,135. The brokerage highlights the Indian defence sector's potential for long-term growth, driven by an estimated $150 billion (around Rs 12.5 lakh crore) in capital expenditure over the next five years and a strong push for domestic manufacturing. It also notes the domestic defence ecosystem is in the early stages of expansion, with exports growing at a 46% CAGR over the past seven years and a strong domestic production outlook.

  #JPMorgan initiates coverage on heavyweights in the Indian defence landscape, including #HAL.
  
  Read more ??https://t.co/iASUEaUiGU

  — NDTV Profit (@NDTVProfitIndia) November 26, 2024

• The New India Assurance rises sharply as it receives a tax return of Rs 1,945.1 crore, including a Rs 489.2 crore interest from the Income Tax Department for FY14-20.

• LT Foods is rising as it plans a capex of SAR 185 million (approx. Rs 415 crore) to set up a warehouse, stocks, and employment in Saudi Arabia over the next five years. The company expects a revenue of SAR 435 million (approx. Rs 975.9 crore) over the same period.

• Premier Energies is rising as its subsidiaries receive multiple orders totaling Rs 1,087 crore from two large independent power producers (IPP) and a domestic customer. These include a Rs 964 crore order for solar modules and Rs 123 crore for solar cells.

• Ashoka Buildcon is rising as it secures a Rs 1,391 crore project from the National Highways Authority of India (NHAI). The project involves the development of a four-lane economic corridor from Bowaichandi to the Guskara-Katwa Road section in West Bengal.

• Nifty 50 was trading at 24,310.35 (88.5, 0.4%), BSE Sensex was trading at 80,415.47 (305.6, 0.4%) while the broader Nifty 500 was trading at 22,643.40 (89.9, 0.4%).

• Market breadth is ticking up strongly. Of the 1,891 stocks traded today, 1,410 were on the uptrend, and 441 went down.

Riding High:

Largecap and midcap gainers today include YES Bank Ltd. (20.14, 5.0%), Biocon Ltd. (352.65, 4.9%) and Colgate-Palmolive (India) Ltd. (2,952.60, 4.2%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (898.55, -7.3%), Adani Enterprises Ltd. (2,150.50, -4.7%) and Adani Energy Solutions Ltd. (600.75, -3.9%).

Crowd Puller Stocks

11 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Tata Teleservices (Maharashtra) Ltd. (80.59, 16.7%), Sonata Software Ltd. (597.95, 8.2%) and Piramal Enterprises Ltd. (1,198.15, 8.2%).

Top high volume loser on BSE was Aptus Value Housing Finance India Ltd. (309.95, -0.6%).

Triveni Turbine Ltd. (823.95, 7.8%) was trading at 11.8 times of weekly average. Procter & Gamble Health Ltd. (5,314, 3.4%) and Caplin Point Laboratories Ltd. (2,113.95, 7.0%) were trading with volumes 9.2 and 7.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks took off, crossing 52 week highs, while 4 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - EID Parry (India) Ltd. (858.55, -0.7%), Federal Bank Ltd. (213.64, 0.4%) and HDFC Bank Ltd. (1,785.55, 0%).

Stocks making new 52 weeks lows included - Adani Energy Solutions Ltd. (600.75, -3.9%) and Rajesh Exports Ltd. (229.95, -2.2%).

29 stocks climbed above their 200 day SMA including Macrotech Developers Ltd. (1,276.05, 4.0%) and Vardhman Textiles Ltd. (470.35, 3.3%).

Nifty 50 closed at 24,221.90 (314.7, 1.3%), BSE Sensex closed at 80,109.85 (992.7, 1.3%) while the broader Nifty 500 closed at 22,553.50 (328.0, 1.5%). Market breadth is highly positive. Of the 2,304 stocks traded today, 1,581 were gainers and 695 were losers.

Nifty 50 maintained its gains in the afternoon session to close higher after the BJP-led Mahayuti alliance witnessed a landslide victory in Maharashtra on Saturday. The Indian volatility index, Nifty VIX, declined 5% and closed at 15.3 points. Central Bank of India closed deep in the green as it received approval from the Reserve Bank of India to enter the insurance business through a joint venture with Generali Group.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher. Nifty PSU Bank and BSE Oil & Gas closed in the green. According to Trendlyne’s sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 10.9%.

Most European indices are trading higher. Major Asian indices closed in the green, except China's FTSE China 50 and Hong Kong's Hang Seng indices which closed 0.5% and 0.4% lower, respectively. US index futures are trading higher, indicating a positive start to the trading session. BHP Group, Agilent Technologies, Zoom Video Communications, Woodward, and Bath & Body Works are set to report their earnings later today.

• Money flow index (MFI) indicates that stocks like Vijaya Diagnostic Centre, Mastek, Indian Hotels, and Krishna Institute of Medical Sciences are in the overbought zone.

• UPL rises as it enters a strategic partnership with CH4 Global to distribute a seaweed-based feed supplement in five major markets, including India. The partnership will focus on distributing CH4 Global's methane tamer product, derived from asparagopsis seaweed, through UPL's existing distribution networks. The product could reduce cattle methane emissions by up to 90%.

• Geojit BNP Paribas maintains its 'Buy' call on Apollo Hospitals Enterprise with a higher target price of Rs 7,764 per share. This indicates a potential upside of 9.5%. The brokerage expects the company's revenue and margins to improve, led by expansion plans, a focus on digital health & diagnostics services, and an improvement in the integrated operations. It expects the firm's revenue to grow at a CAGR of 16.3% over FY25-26.

• IFCI surges as its board approves the merger of several group companies to streamline its operations. The consolidation includes StockHolding Corp, IFCI Factors, VFCI Infrastructure, IIDL Realtors, and other subsidiaries into IFCI, following approval from the Ministry of Finance's Department of Financial Services (DFS).

• Citi upgrades Reliance Industries to ‘Buy’ with a higher target price of Rs 1,530. The brokerage cites a favourable risk-reward scenario. The brokerage anticipates improved refining margins and growth in its telecom arm, Jio. Citi remains optimistic about RIL’s overall performance, though the retail segment may face challenges in the near term.

  #RelianceIndustries Ltd’s shares surged as much as 3% on Monday to Rs 1302.7 on BSE, after Citi upgraded the stock to a "Buy" rating, increasing its target price to Rs 1,530https://t.co/Q1aQmBayRZ

  — ETMarkets (@ETMarkets) November 25, 2024

• ICICI Direct upgrades Navin Fluorine International to 'Buy' from 'Hold' but reduces the target price to Rs 3,830 per share. This indicates a potential upside of 11.8%. The brokerage expects the company to grow due to a build-up in the order book, capex spending, and customer acquisitions. It expects the firm's revenue to grow at a CAGR of 20.7% over FY25-26.

• Tips Music is rising as it partners with TikTok to promote its music library. The partnership provides TikTok users across multiple regions easy access to Tips' diverse collection, including Bollywood classics and regional language hits.

• Alembic Pharmaceuticals receives Form 483 with five observations from the US FDA following an inspection at its solid oral formulation facility (F-4) in Jarod.

• The MSCI rebalancing takes effect today, with Indian equities expected to see an influx of $1.7 billion (approximately Rs 1.4 lakh crore). HDFC Bank, Voltas, and BSE, among others, enter the MSCI Global Standard Index, while 13 stocks are added to the MSCI Smallcap Index, enhancing India's presence in global markets. Meanwhile, MSCI removes Adani Energy from the index and reduces the free-float weightage for Adani Green Energy and Adani Power, signaling a cautious outlook for these companies.

  MSCI rejig today: HDFC Bank, Voltas, BSE, 10 other stocks likely to see over $2 billion inflow; Adani Group stocks out of MSCI. Read @FinancialXpress to know more.
  
  By: @dev_sethia03https://t.co/R1WMaSqtqP@roshunpovaiah@sumanasarkar@_sparshing

  — FEMarkets (@FEMarkets) November 25, 2024

• Swan Energy rises sharply as its subsidiaries, Triumph Offshore and Reliance Naval & Engineering (RNEL), enter a merger agreement. The amalgamation requires no financial payment, with consideration settled through redeemable preference shares issued by RNEL.

• Indian Bank rises sharply as the Financial Services Institutions Bureau (FSIB) recommends Binod Kumar as its next Managing Director and CEO, succeeding SL Jain, whose term ends on December 31.

• Mahindra Lifespace Developers is rising as its subsidiary, Mahindra World City Developers (MWCDL), partners with Japan's Sumitomo Corporation to develop the second phase of the industrial parks project in Tamil Nadu. MWCDL and Sumitomo Corp will invest Rs 225 crore in the joint venture.

• Indraprastha Gas rises over 3% as it hikes prices by Rs 1.5-4/kg in different locations ex-Delhi. Delhi makes up 70% of IGL’s total consumption, with the remaining 30% coming from other regions. The company mulls additional price hikes due to the second reduction in the supply of cheaper input gas. The government reduced the supply of affordable natural gas from old gas fields by 20% from November 16, following a 21% cut implemented on October 16.

  Stocks In News | IGL hikes prices by Rs 1.50-4/kg in different locations except Delhi, which accounts for around 70% of co's volume @sonalbhutrapic.twitter.com/MnnSHKLNOe

  — CNBC-TV18 (@CNBCTV18News) November 25, 2024

• Prakash Industries is rising sharply as it executes a mining lease agreement with the Government of Chhattisgarh for mining coal from the Bhaskarpara Commercial Coal Mine for the next 30 years.

• ICICI Lombard General Insurance acquires a 0.2% equity stake in HDFC Life Insurance for a cash consideration of Rs 233 crore.

• Rites rises sharply after the Northeast Frontier Railways raises the project estimates by 84.4% to Rs 531.8 crore for railway electrification work of the LMG-BPB section of the Lumding division.

• Jefferies maintains its 'Buy' rating on Mahindra & Mahindra with a target price of Rs 3,700. The brokerage chooses the company over Maruti Suzuki, expecting better margin sustainability and earnings growth due to strong demand in the SUV and tractor segments, with the latter projected to grow at 5% CAGR. It highlights that despite these prospects, M&M's stock trades at similar valuations to Maruti Suzuki.

  #Mahindra & Mahindra is #Jefferies' favoured pick over #MarutiSuzukiIndia.
  
  Read more to know why: https://t.co/driT2YzuKDpic.twitter.com/UrCj55NIxk

  — NDTV Profit (@NDTVProfitIndia) November 25, 2024

• HG Infra Engineering surges as it receives a letter of award (LoA) from NTPC Vidyut Vyapar Nigam to set up a 500 MW standalone battery energy storage system in the next 18 months.

• Cochin Shipyard rises to its 5% upper limit as it signs a memorandum of understanding (MoU) with Seatrium Letourneau USA to design and provide critical equipment for jack-up rigs for the Indian market. This partnership aims to capitalise on opportunities for mobile offshore drilling units (MODUs) designed to meet the needs of the Indian market.

• Jyoti Structures is rising as its board of directors approves raising Rs 500 crore through the rights issue of equity shares.

• Zomato rises sharply as it is set to replace JSW Steel in the BSE Sensex index, effective December 23. Meanwhile, the company’s shareholders approve raising up to Rs 8,500 crore through a qualified institutional placement (QIP).

  #MarketsWithMC | ????Zomato shares soar 6% on Sensex inclusion, Rs 8,500 crore QIP approval????
  
  Read for more ????https://t.co/aCdwMyhD7u#Zomato#StockMarket

  — Moneycontrol (@moneycontrolcom) November 25, 2024

• Central Bank of India is rising as it receives approval from the Reserve Bank of India to enter the insurance business through a joint venture with Generali Group. The bank will form a joint venture with Generali's arms, Future Generali India Insurance, and Future Generali India Life Insurance, subject to ongoing compliance with conditions set by the Reserve Bank of India and approval from IRDAI.

• Paras Defence & Space Technologies rises sharply as it plans a capex of Rs 500 crore to set up India's first optical systems development park.

• CESC is rising as its wholly-owned subsidiary, Eminent Electricity Distribution, receives a letter of intent to acquire 100% of the shares in a distribution company for Rs 871 crore. The company is responsible for electricity distribution and retail supply in the Union Territory of Chandigarh.

• Rail Vikas Nigam rises sharply as it receives a letter of acceptance (LoA) for a Rs 837.7 crore order from the Eastern Railway to construct bridges, retaining walls, level crossing, side drains, and other works between Kalipahari to Pradhankhuta.

• Markets rise on early trading, Nifty 50 was trading at 24,288.60 (381.4, 1.6%), BSE Sensex was trading at 80,193.47 (1,076.4, 1.4%) while the broader Nifty 500 was trading at 22,618.65 (393.1, 1.8%)

• Market breadth is ticking up strongly. Of the 2,000 stocks traded today, 1,854 showed gains, and 121 showed losses.

Riding High:

Largecap and midcap gainers today include Central Bank of India (56.71, 8.4%), Siemens Ltd. (7,348.50, 7.3%) and Cummins India Ltd. (3,535.85, 6.5%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (968.80, -7.9%), Adani Energy Solutions Ltd. (625.20, -3.7%) and Adani Power Ltd. (446.65, -3%).

Volume Shockers

59 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Poly Medicure Ltd. (3,002.35, 16.3%), Elgi Equipments Ltd. (640.75, 14.5%) and Gillette India Ltd. (10,443.15, 12.1%).

Top high volume losers on BSE were Adani Green Energy Ltd. (968.80, -7.9%), JSW Steel Ltd. (953.30, -2.5%) and JSW Energy Ltd. (675.05, -2.0%).

GMM Pfaudler Ltd. (1,201.15, -0.3%) was trading at 33.1 times of weekly average. Grindwell Norton Ltd. (2,102, 1.8%) and Capri Global Capital Ltd. (194.68, 3.2%) were trading with volumes 30.0 and 29.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks made 52 week highs, while 6 stocks hit their 52 week lows.

Stocks touching their year highs included - Coromandel International Ltd. (1,795.45, -0.6%), Federal Bank Ltd. (212.88, 1.7%) and Fortis Healthcare Ltd. (697.85, 1.8%).

Stocks making new 52 weeks lows included - Adani Energy Solutions Ltd. (625.20, -3.7%) and Mahindra Holidays & Resorts India Ltd. (348.40, -0.8%).

55 stocks climbed above their 200 day SMA including Elgi Equipments Ltd. (640.75, 14.5%) and Cummins India Ltd. (3,535.85, 6.5%). 3 stocks slipped below their 200 SMA including Varun Beverages Ltd. (601.10, -2.5%) and Narayana Hrudayalaya Ltd. (1,264, -0.6%).

• Relative strength index (RSI) indicates that stocks like Britannia Industries, Ambuja Cements, and GMM Pfaudler are in the oversold zone.

• NLC India is rising as it emerges as the highest bidder for the new Patrapara South Coal Mine in Angul, Odisha. This coal mine block has a total reserve of approximately 720.9 million tonnes.

• Insolation Energy is rising as its arm, Insolation Green Energy, signs a memorandum of understanding (MoU) worth Rs 10,000 crore for solar power generation, components manufacturing, EPC projects, and parks in Rajasthan.

• Man Industries is rising as it plans to monetize the assets of its wholly-owned subsidiary, Merino Shelters. This may involve selling assets, assigning rights, or forming joint ventures. The board has also approved setting up a wholly-owned subsidiary or branch in Taiwan to expand internationally.

• LTIMindtree is rising after Life Insurance Corporation of India (LIC) increases its stake from 5% to 7%, acquiring shares at an average price of Rs 4,950.8 each.

• Praj Industries is rising as it highlights its target to triple its revenue from Rs 3,400 crore to Rs 10,000 crore by 2030. The company plans to boost its export share from 29% to 50% by 2030, supporting margin expansion.

  #JustIN | Praj Ind says, expect to triple revenue by 2030, revenue currently is at ?3,400 cr, have a goal to reach ?10,000 cr by 2030
  
  Share of exports is around 29%, looking at increasing it to 50% by 2030, co adds pic.twitter.com/fFmrQPMPCv

  — CNBC-TV18 (@CNBCTV18Live) November 22, 2024

• Motilal Oswal maintains its 'Buy' rating on Indian Hotels with a target price of Rs 880 per share. This indicates a potential upside of 10.9%. The brokerage cites the company's ambitious growth strategy, focusing on doubling its hotel portfolio, achieving a 14% CAGR in revenue, and balancing income between traditional and new business segments. It projects a CAGR of 18% in revenue, 24% in EBITDA, and 26% in adjusted PAT over FY25-27.

• NTPC Green Energy's Rs 10,000 crore IPO receives bids for 1.4X the available 59.3 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 3X the available 8.6 crore shares.

• Marksans Pharma rises as it secures US FDA approval for Loratadine Tablets USP 10 mg, a generic version of Bayer's Claritin, for over-the-counter use in treating allergic rhinitis and upper respiratory tract allergies. The global Loratadine market was valued at $140 million in 2023 and is estimated to reach $144 million in 2024.

• Goldman Sachs upgrades its rating on Info Edge (India) to 'Buy' with a higher target price of Rs 8,600. The brokerage highlights a robust demand environment in the domestic IT sector as a key driver of the firm’s performance. The flagship recruitment segment is expected to post a strong compound annual growth rate (CAGR) of 16% in FY25-28, doubling the 8% CAGR previously projected for FY23-25.

  #NDTVProfitStocks | Why is #InfoEdge up 6% today? @Somaiya_Rucha explains.
  
  Read: https://t.co/yu54O2bwH7pic.twitter.com/aDcB9F8ExE

  — NDTV Profit (@NDTVProfitIndia) November 22, 2024

• Kitex Garments' board approves the issuance of bonus equity shares in the ratio of 2:1, that is, two new fully paid equity shares of Rs 1 each for every existing equity share of ?Rs 1 each.

• Torrent Pharmaceuticals is rising after the US FDA issues an establishment inspection report (EIR) with voluntary action indicated (VAI) classification for its manufacturing facility at Pithampur, Madhya Pradesh.

• Hyundai Motor India signs an agreement with Fourth Partner Energy to set up two renewable energy plants in Tamil Nadu. The deal supports HMIL's goal of using 100% renewable electricity for all manufacturing operations by 2025.

• RBI's latest Monthly Bulletin indicates India's economic momentum is robust, with GDP growth projected at 6.7% for Q2 and 7.6% for Q3. However, inflation concerns continue, with rising food and core inflation. Private consumption is driving domestic demand, but the overall outlook remains uncertain.

  #BSEditorial | #RBI's latest Monthly Bulletin shows #India's economic momentum remains strong, with #GDP growth projected at 6.7% for Q2 and 7.6% for Q3. However, #inflation concerns persist, with food and core inflation on the rise. The RBI must avoid premature rate cuts to… pic.twitter.com/porRDTnMM6

  — Business Standard (@bsindia) November 22, 2024

• Innovators Facade Systems rises sharply as it secures a Rs 110 crore work order from Prestige Mulund Realty for designing, developing, supplying, fabricating, and installing facade work, including stone cladding.

• Mphasis rises sharply as it becomes the official digital partner of MoneyGram Haas F1 Team. The company will use its expertise in data, AI, analytics, cybersecurity, and automation to improve the team's real-time data analysis, predictive modeling, and overall performance both on and off the track.

• Wipro is rising as its board of directors sets December 3 as the record date for its 1:1 bonus share issue.

• Investec initiates a 'Buy' rating on Sobha with a target price of Rs 2,150. The brokerage believes the real estate developer has gained from robust demand and higher realizations in Bengaluru. The company has consistently delivered healthy operating cash flows while lowering its balance sheet leverage. Investec is optimistic about the developer's strategic plans to enter Mumbai and Noida, aiming for a strong long-term foothold in these markets within 2-3 years.

  #MarketToday | Sobha shares rise in early deals as Investec sees 42% upside https://t.co/eeCAVmpNVZ

  — Business Today (@business_today) November 22, 2024

• Raymond is rising as it receives a ‘no objection’ letter from the National Stock Exchange (NSE) and BSE for the demerger of the company and its realty arm, Raymond Realty.

• Protean eGov Technologies is falling as NSE Investments plans to sell up to a 20.3% stake via an offer for sale (OFS) at a floor price of Rs 1,550 per share. The base offer is 41.2 lakh equity shares (~10.2% stake) with an option to sell an additional 41.2 lakh shares (another 10.2% stake).

• Mahanagar Gas is rising as it hikes CNG prices by Rs 2 per kg in Mumbai, effective today, citing higher costs. The revised price, including taxes, stands at Rs 77 per kg.

• Kenya announces the cancellation of two major proposed projects of the Adani Group following allegations of bribery and fraud against Gautam Adani in the US. The first project was the procurement process to expand the country’s main airport, and the second involved a $700 million (approximately Rs 5,800 crore) energy deal.

  In a major setback to the Adani group, Kenya announced that it is cancelling 2 major proposed projects amid allegations of bribery & fraud against Gautam Adani in the U.S. The first was the procurement process to expand Kenya’s main airport, while the second was a $700 million… pic.twitter.com/aNxXufquHL

  — CNBC-TV18 (@CNBCTV18News) November 22, 2024

• Zinka Logistics Solutions’ shares debut on the bourses at a 2.9% premium to the issue price of Rs 273. The Rs 1,114.7 crore IPO received bids for 1.9 times the total shares on offer.

• Tata Power rises as it signs a memorandum of understanding (MoU) with Asian Development Bank (ADB) at COP29 to explore $4.25 billion in funding for energy projects, including solar-wind hybrid, hydro storage, battery storage, decarbonisation, and upgrading power distribution networks.

• Afcons Infrastructure is rising as it secures a letter of acceptance worth Rs 1,274 crore from Uttarakhand Project Development and Construction Corporation (UPDCC) for civil works. The project involves hydro-mechanical (HM) works to construct a 130.6-meter high concrete gravity dam in Uttarakhand.

• SJVN is rising as it signs a memorandum of understanding (MoU) with the Energy Department, Government of Rajasthan, to lead renewable energy development in the state. Under this agreement, SJVN will develop 5 GW of pumped storage projects and 2 GW of floating solar projects.

• Nifty 50 was trading at 23,406.70 (56.8, 0.2%) , BSE Sensex was trading at 77,349.74 (194.0, 0.3%) while the broader Nifty 500 was trading at 21,858.95 (38.1, 0.2%)

• Market breadth is in the green. Of the 1,870 stocks traded today, 1,028 were in the positive territory and 789 were negative.

Riding High:

Largecap and midcap gainers today include One97 Communications Ltd. (900.95, 6.6%), Info Edge (India) Ltd. (7,999.95, 6.5%) and Godrej Properties Ltd. (2,857.15, 5.6%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (1,051.80, -8.2%), Adani Energy Solutions Ltd. (648.95, -6.9%) and Torrent Power Ltd. (1,517.40, -4.1%).

Crowd Puller Stocks

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Praj Industries Ltd. (779.20, 15.4%), Fine Organic Industries Ltd. (5,100, 8.7%) and Mangalore Refinery And Petrochemicals Ltd. (157.25, 8.4%).

Top high volume losers on BSE were Adani Green Energy Ltd. (1,051.80, -8.2%) and CIE Automotive India Ltd. (454.90, -1%).

Sun Pharma Advanced Research Company Ltd. (204.50, 7.4%) was trading at 18.9 times of weekly average. CCL Products India Ltd. (740.05, 4.1%) and Kansai Nerolac Paints Ltd. (267.25, 4.6%) were trading with volumes 10.5 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks took off, crossing 52 week highs, while 18 stocks hit their 52 week lows.

Stocks touching their year highs included - Coromandel International Ltd. (1,806.45, 2.2%), Crisil Ltd. (5,469.95, -2.1%) and Federal Bank Ltd. (209.37, -0.7%).

Stocks making new 52 weeks lows included - Adani Energy Solutions Ltd. (648.95, -6.9%) and Asian Paints Ltd. (2,472.20, 1.8%).

39 stocks climbed above their 200 day SMA including Fine Organic Industries Ltd. (5,100, 8.7%) and Phoenix Mills Ltd. (1,627.35, 6.1%). 7 stocks slipped below their 200 SMA including Torrent Power Ltd. (1,517.40, -4.1%) and ITI Ltd. (275.07, -1.6%).

Nifty 50 closed at 23,349.90 (-168.6, -0.7%) , BSE Sensex closed at 77,155.79 (-422.6, -0.5%) while the broader Nifty 500 closed at 21,820.85 (-183.5, -0.8%). Market breadth is moving down. Of the 2,255 stocks traded today, 614 were on the uptrend, and 1,626 went down.

Nifty 50 closed lower after extending losses in the morning session. The Indian volatility index, Nifty VIX, rose 2.1% and closed at 15.9 points. Adani Group strongly denied bribery allegations from the US Department of Justice and the Securities and Exchange Commission.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. S&P BSE Utiliti. and Nifty PSU Bank Index were among the top index losers today. According to Trendlyne’s sector dashboard, Commercial Services & Supplies emerged as the worst-performing sector of the day, with a fall of 9.5%.

Asian indices closed in the red, except for Korea’s KOSPI and Sri Lanka’s CSE All-Share, which closed higher. European indices are trading in the red. US index futures are trading in the red, indicating a negative start to the trading session. Brent crude oil futures are trading higher.

• Money flow index (MFI) indicates that stocks like Syrma SGS Technology, and Mastek are in the overbought zone.

• Supreme Court rules in favor of Indus Towers, granting telecom companies the right to claim Central Value-Added Tax (Cenvat) credits on duties paid for infrastructure components. The ruling is expected to reduce its liability by Rs 3,704 crore.

• Kilburn Engineering enters a share purchase agreement with Monga Strayfield to acquire a 100% stake for Rs 123 crore. Monga is an engineering company engaged in manufacturing radio frequency dryers and heating solutions. This acquisition will help Kilburn improve manufacturing capabilities and expand its dryers portfolio.

• HDFC Bank, Bharti Airtel, ICICI Bank, and Reliance Industries outperform their respective industries over 10 years in terms of price change.

• Moody's flags the US court indictment against the Adani Group as a credit negative. The agency states that its primary focus in evaluating the Adani Group is the ability of the group's companies to secure capital to meet liquidity needs and their governance practices.

  Moody's flags USA action as credit negative for Adani Group – impact ahead? ????????#AdaniGroup#Moodys#GlobalMarketshttps://t.co/gDOjcW09iS

  — Zee Business (@ZeeBusiness) November 21, 2024

• Adani Group strongly denies bribery allegations from the US Department of Justice and the Securities and Exchange Commission. Meanwhile, Adani Green Energy cancels plans to raise $600 million in US dollar-denominated bonds, which were priced before the charges against Gautam Adani.

• NTPC Green Energy's Rs 10,000 crore IPO receives bids for 0.9X the available 59.3 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 2.2X the available 8.6 crore shares.

• Gujarat Narmada Valley Fertilizers & Chemicals signs a memorandum of understanding (MoU) with INEOS Acetyls International, United Kingdom, to form a 50:50 joint venture. The venture will focus on constructing and operating an acetic acid plant in India.

• Honasa Consumer declines by 10% following concerns raised by the All India Consumer Products Distributors Federation about unethical stock dumping practices by the company. Global brokerage CLSA notes Honasa's flagship brand, Mamaearth, has grown into one of India's largest Beauty and Personal Care (BPC) brands, however, its growth has recently decelerated.

  #NDTVProfitStocks | #Honasa Consumer's share price hits all-time low amid AICPDF's claims of unsold stock.
  
  Read ??https://t.co/61aJ6GKunc

  — NDTV Profit (@NDTVProfitIndia) November 21, 2024

• Tata Technologies signs a memorandum of agreement (MoA) with the Department of Industries & Commerce, Government of Tripura, to upgrade 19 ITIs across the state. The project, worth Rs 95.6 crore, covers upgrades, training, maintenance, and related services over 5 years and 9 months.

• Dr Reddy's Laboratories falls after the US FDA issues Form 483 with seven observations following an inspection at its API manufacturing facility in Bollaram, Hyderabad.

• Zaggle Prepaid Ocean Services surges to its 5% upper limit as it enters an agreement with Strada India. The partnership aims to provide Zaggle’s SaaS platform, payment, and card products to Strada's corporate customers.

• Bernstein maintains its 'Outperform' rating on One97 Communications (Paytm) with a higher target price of Rs 1,000. The brokerage expects Paytm to benefit from lending partly from its own balance sheet and improved payment margins, projecting a 100% upside to its base case EPS estimates. However, in a negative scenario, it warns of a potential 40% downside risk to its base case estimates.

  #MarketsWithMC | Bernstein reaffirms bullish outlook on Paytm, hikes target price to Rs 1,000 per share
  
  Here's all the details ????https://t.co/oP5KmcEaq7#Paytm#StockMarket

  — Moneycontrol (@moneycontrolcom) November 21, 2024

• NBCC (India) secures an order worth Rs 202 crore from Rajasthan State Industrial Development and Investment Corp for project management consultancy services to construct Unity Mall (PM-Ekta Mall) in Jaipur, Rajasthan.

• NLC India rises as it announces an investment of up to Rs 3,720 crore in renewable projects. The company will also acquire a stake in its subsidiary, NLC India Renewables (NIRL), to transfer renewable assets under its asset monetisation plan.

• Garden Reach Shipbuilders & Engineers secures a contract worth Rs 226.2 crore from the West Bengal Transport Department for 13 hybrid ferries. Out of the 13 ferries, six will feature twin decks, accommodating 200 passengers each.

• JP Chalasani, Group CEO of Suzlon Energy, notes India's total RE capacity has reached a new milestone of 200 GW. He adds that 100 GW of wind power will be required to meet the energy demand by 2030. He believes that wind power is cheaper than solar power and highlights that the company is adding renewable energy capacity which places them well on the growth path.

  Suzlon says
  
  1? 100 GW of wind power needed to meet demand by 2030
  2? Believes wind power is cheaper than solar power
  3? Adding capacity which places them well on the growth path @Suzlonhttps://t.co/K5SrVpfEdd

  — Nigel D'Souza (@Nigel__DSouza) November 21, 2024

• All Adani Group stocks plunge over 20% in trade today after Gautam Adani was indicted in New York for paying $250 million in bribes to secure $2 billion in solar contracts.

• Bharat Global Developers rises to its 5% upper limit as its wholly-owned subsidiary secures multiple orders worth Rs 251 crore (AED 109 million) to process and supply high-value precious stones like diamonds, rubies, emeralds, and sapphires to wholesalers and custom jewellery boutiques.

• BEML secures a supply order worth Rs 246.8 crore from Central Coalfields (CCL). The order includes 48 advanced BH60M rear dump trucks, spares, and consumables for five years, including after-sales service support.

• Britannia Industries declines over 2% as the Food Safety and Standards Authority of India (FSSAI) issues a notice over the use of a preservative in a batch of one of its products and prohibits its sale.

  #MarketsWithBS | #Britannia shares declined 2.9% on Thursday and registered an intraday low of Rs 4,748.15 per share. The selling in the #stock came after #FSSAI issued a notice over the use of a preservative in one batch and prohibited its sale#marketshttps://t.co/Mm7kR6R5qg

  — Business Standard (@bsindia) November 21, 2024

• UPL's board of directors approves the rights issue of 9.4 crore shares worth Rs 3,378 crore at an issue price of Rs 360 per share. The board sets November 26 as the record date for the rights issue.

• Tata Power partners with Bhutan's Druk Green Power Corporation (DGPC), a subsidiary of Druk Holding and Investments, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan.

• Godrej Properties acquires a 53-acre land parcel in Joka, Kolkata, offering 13 lakh sq. ft. of residential plots for development. The project has an estimated revenue potential of Rs 500 crore.

• PSP Projects signs a share purchase agreement between promoter Prahaladbhai Patel and Adani Infra, where Adani Infra will acquire up to 30.1% stake from the promoter for Rs 685 crore. Adani Infra has also announced an open offer to acquire up to 1 crore shares at Rs 642.1 per share.

• Nifty 50 was trading at 23,371.95 (-146.6, -0.6%) , BSE Sensex was trading at 77,530.45 (-47.9, -0.1%) while the broader Nifty 500 was trading at 21,859.75 (-144.6, -0.7%)

• Market breadth is moving down. Of the 1,974 stocks traded today, 572 showed gains, and 1,329 showed losses.

Riding High:

Largecap and midcap gainers today include Suzlon Energy Ltd. (65.33, 5%), Indian Hotels Company Ltd. (786.80, 4.4%) and One97 Communications Ltd. (845.40, 3.8%).

Downers:

Largecap and midcap losers today include Adani Enterprises Ltd. (2,183.65, -22.6%), Adani Energy Solutions Ltd. (697.25, -20%) and Adani Green Energy Ltd. (1,145.70, -18.9%).

Volume Rockets

25 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included VIP Industries Ltd. (493.40, 7.2%), NLC India Ltd. (253, 6.8%) and Crisil Ltd. (5,595.50, 6.2%).

Top high volume losers on BSE were Adani Enterprises Ltd. (2,183.65, -22.6%), Adani Energy Solutions Ltd. (697.25, -20%) and Adani Green Energy Ltd. (1,145.70, -18.9%).

Ambuja Cements Ltd. (484.15, -11.9%) was trading at 28.6 times of weekly average. ACC Ltd. (2,027.20, -7.3%) and Adani Ports & Special Economic Zone Ltd. (1,114.65, -13.6%) were trading with volumes 25.7 and 22.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks hit their 52 week highs, while 30 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Federal Bank Ltd. (210.88, 2.1%), Fortis Healthcare Ltd. (680.70, 3.5%) and Indian Hotels Company Ltd. (786.80, 4.4%).

Stocks making new 52 weeks lows included - Adani Energy Solutions Ltd. (697.25, -20%) and AIA Engineering Ltd. (3,407.25, -1.2%).

10 stocks climbed above their 200 day SMA including NLC India Ltd. (253, 6.8%) and Brigade Enterprises Ltd. (1,179.50, 2.6%). 23 stocks slipped below their 200 SMA including Whirlpool of India Ltd. (1,728, -5.9%) and ITI Ltd. (279.44, -4.4%).

Nifty 50 closed at 23,518.50 (64.7, 0.3%) , BSE Sensex closed at 77,578.38 (239.4, 0.3%) while the broader Nifty 500 closed at 22,004.35 (105.0, 0.5%). Market breadth is in the green. Of the 2,257 stocks traded today, 1,388 showed gains, and 846 showed losses.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 23,518.5 points. The Indian volatility index, Nifty VIX, rose 3.2% and closed at around 15.7 points. NTPC Green Energy's Rs 10,000 crore IPO received bids for 0.2X the available 59.3 crore shares on offer on the first day of bidding. The retail investor quota got bids for 1X the available 8.6 crore shares.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher. Nifty Media and BSE Realty Index closed in the green. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.5%.

European indices are trading lower. Major Asian indices closed mixed. US index futures are trading lower, indicating a negative start to the trading session. Walmart is set to release its Q3 results later today. Analysts expect the retailer’s Q3 revenue to grow by more than 4% YoY, reaching $167.3 billion.

• Relative strength index (RSI) indicates that stocks like Restaurant Brands Asia, TCI Express, and Suraj Estate Developers are in the oversold zone.

• Bank of America sells around 18.2 lakh shares (0.9% stake) worth Rs 62 crore in Tilaknagar Industries via a block deal on Monday. Meanwhile, Societe Generale picks up a stake in the company.

• DCM Shriram hits its all-time high of Rs 1,371.1 as it completes 2,100 tonnes of cane crushed per day (TCD) capacity expansion at its sugar plant in Loni, Uttar Pradesh, boosting cane crushing capacity to 9,400 TCD, to meet local supply.

• Morgan Stanley revises its India's growth forecast for FY25 from 7% to 6.7%, citing weaker-than-expected high-frequency growth data in Q2, projected to expand at a slower pace of 6.3%. However, the firm expects growth to pick up in the second half of the year, with a rebound to around 6.7-6.8%, helped by stronger agricultural output and increased government spending.

  #MorganStanley lowers #India's #growth for #FY25; #economy may expect a better Q3 show with #WeddingSeasonhttps://t.co/9Drn5WKR2D

  — Economic Times (@EconomicTimes) November 19, 2024

• Reports suggest that 52 lakh shares (0.2% stake) of Axis Bank, worth approximately Rs 589 crore, have changed hands in a block deal at an average price of Rs 1,130 per share.

• NTPC Green Energy's Rs 10,000 crore IPO receives bids for 0.2X the available 59.3 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 1X the available 8.6 crore shares.

• Akums Drugs & Pharmaceuticals hits its 5% upper circuit as it signs a master sales agreement with South Korea's Caregen. The agreement grants Akums exclusive rights to sell, package, and market Caregen’s nutraceutical products in India under Caregen's, Akums', or its clients' trademarks.

• Adani Group is reportedly in an advanced stage of negotiations to buy a stake in PSP Projects. They are likely looking to acquire a 60.1% stake in the company from its promoters. This transaction is expected to trigger an open offer for 26% of PSP's publicly held shares.

  #CNBCTV18Exclusive | #AdaniGroup in advanced stage of negotiations to buy stake in #PSPProjects, may acquire 60.14% stake in the company from its promoters
  
  Sources to @VivekIyer72pic.twitter.com/oL4aFx1X18

  — CNBC-TV18 (@CNBCTV18Live) November 19, 2024

• NBCC (India) is rising as it receives work orders worth Rs 112 crore from the ST & SC Development, Minorities and Backward Classes Welfare Department. These include orders to upgrade a high school to a higher secondary school in Malkangiri and ashram schools to high schools in Koraput and Nuapada in Odisha.

• AstraZeneca Pharma is rising as it announces the launch of Breztri Aerosphere in India in January 2025. The drug, approved by the Drugs Controller General of India in December 2023, treats chronic obstructive pulmonary disease (COPD), relieving symptoms and preventing exacerbations in adults.

• Kitex Garments surges to its 5% upper circuit as its board of directors schedules to meet on November 22 to consider and approve the issue of bonus shares to its shareholders.

• Godawari Power & Ispat's board approves the acquisition of a 51% stake in Jammu Pigments for Rs 255 crore. Jammu Pigments is engaged in the recycling of non-ferrous metals, with operations covering the recycling of lead acid batteries and other secondary lead waste.

  #JustIN | Godawari Power board approves acquisition of 51% stake in Jammu Pigments for ?255 cr pic.twitter.com/j1rJMbchgY

  — CNBC-TV18 (@CNBCTV18Live) November 19, 2024

• Havells India is rising as it announces plans to set up a Rs 480 crore refrigerator manufacturing facility in Rajasthan. The plant will add 14 lakh units to its capacity, with the expansion expected to be completed by Q2FY27.

• Media stocks like Sun TV Network, PVR INOX, Network18 Media & Investment, and Zee Entertainment Enterprises are rising in trade. All constituents of the broader Nifty Media index are also trading in the green, causing it to rise by over 3%.

• NTPC's subsidiary, NTPC Green Energy, and ONGC's subsidiary, ONGC Green Energy, establish a 50:50 joint venture, ONGC NTPC Green, to develop renewable energy projects, including offshore wind initiatives, through Greenfield developments and acquisitions.

• CLSA maintains its 'Outperform' rating on Mahindra & Mahindra with a target price of Rs 3,440. The brokerage expects new product launches to drive growth in FY25–26. It notes the company has strategically reshaped its domestic passenger vehicle (PV) portfolio over the past five years, boosting its SUV share from 35% to 55%. Future growth will emphasize mid and premium SUV segments, shifting away from entry-level models.

  #MarketsWithMC | M&M jumps 4%, top Nifty gainer after CLSA maintains "outperform" call, sees 16% upside
  
  Read for more ????https://t.co/tkf2RHg7hB#StockMarket#Trading

  — Moneycontrol (@moneycontrolcom) November 19, 2024

• NTPC Green Energy raises Rs 3,960 crore from anchor investors ahead of its IPO by allotting around 36.7 crore shares at Rs 108 each. Investors include Goldman Sachs, Morgan Stanley, Abu Dhabi Investment Authority, Capital World, GIC, LIC, White Oak, and Baroda BNP MF.

• Waaree Energies’ net profit grows 14.8% YoY to Rs 361.7 crore in Q2FY25, helped by lower raw material and finance costs, and a deferred tax credit of Rs 17.3 crore. Revenue increases 1% YoY to Rs 3,574.4 crore, due to improvements in the power generation and EPC contracts segments. It features in a screener of companies with zero promoter pledge.

• ITI is rising as it receives a contract worth Rs 95 crore from the Directorate of Geology and Mining, Government of Uttarakhand, for the mining digital transformation and surveillance system (MDTSS) project. The company will develop and implement MDTSS at 40 check gates across Dehradun, Haridwar, Udham Singh Nagar, and Nainital districts over five years.

• Morgan Stanley upgrades Suzlon Energy to 'Overweight' rating with a target price of Rs 71. The brokerage anticipates an increase in domestic market share to 35-40% by FY27. It also projects 32 GW of new capacity additions in India's wind energy, generating $31 billion in demand for wind OEMs between FY25-30. The company has a strong 5.1 GW order backlog, to be executed over the next two years, with a strategic emphasis on orders that offer greater offtake visibility.

  #NDTVProfitStocks | #SuzlonEnergy's share price hits 5% upper circuit after #MorganStanley upgrades stock to 'overweight'.
  
  Read ??https://t.co/51yldpQzs5

  — NDTV Profit (@NDTVProfitIndia) November 19, 2024

• Shilpa Medicare rises sharply as its wholly-owned subsidiary, Shilpa Pharma Lifesciences, receives a certificate of suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM) for its active pharmaceutical ingredient (API), Octreotide, used to treat acromegaly, severe diarrhea, and other related medical conditions. The global Octreotide market was valued at $2.7 billion in 2023 and is estimated to reach $3 billion in 2024.

• GMR Airports is rising as its passenger traffic increases 9.2% YoY to 1.1 crore in October, while aircraft movements grow by 9% YoY to 71,598.

• Zee Entertainment Enterprises’ Managing Director and CEO, Punit Goenka, resigns from the position of MD, effective November 18. However, he will retain his position as the CEO of the company.

• PG Electroplast's wholly-owned subsidiary, PG Technoplast, signs an agreement with Spiro Mobility to exclusively manufacture electric vehicles, lithium-ion batteries, and components in India, managing production and procurement while Spiro oversees R&D and distribution.

• Nifty 50 was trading at 23,590.05 (136.3, 0.6%) , BSE Sensex was trading at 77,548 (209.0, 0.3%) while the broader Nifty 500 was trading at 22,041.95 (142.6, 0.7%)

• Market breadth is overwhelmingly positive. Of the 1,934 stocks traded today, 1,637 showed gains, and 271 showed losses.

Riding High:

Largecap and midcap gainers today include Tube Investments of India Ltd. (3,611.30, 5.3%), Suzlon Energy Ltd. (62.22, 5.0%) and Indian Railway Finance Corporation Ltd. (145.18, 5.0%).

Downers:

Largecap and midcap losers today include Max Financial Services Ltd. (1,189.60, -3.9%), Adani Green Energy Ltd. (1,412.70, -3.0%) and Gujarat Fluorochemicals Ltd. (3,878.10, -3.0%).

Volume Shockers

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Jindal Worldwide Ltd. (336.70, 20.0%), Craftsman Automation Ltd. (5,009.25, 7.5%) and Apar Industries Ltd. (9,479.30, 7.5%).

Top high volume losers on BSE were Honasa Consumer Ltd. (264.10, -11.2%), SBI Life Insurance Company Ltd. (1,522.90, -2.5%) and ICICI Prudential Life Insurance Company Ltd. (682.95, -1.5%).

Zee Entertainment Enterprises Ltd. (122.54, 6.2%) was trading at 10.3 times of weekly average. Ratnamani Metals & Tubes Ltd. (3,403.80, -1.4%) and EID Parry (India) Ltd. (822.25, 7.3%) were trading with volumes 5.6 and 5.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks made 52 week highs, while 6 stocks tanked below their 52 week lows.

Stocks touching their year highs included - DCM Shriram Ltd. (1,297.30, -1.9%), Federal Bank Ltd. (206.65, 3.2%) and Fortis Healthcare Ltd. (657.80, 1.4%).

Stocks making new 52 weeks lows included - Indraprastha Gas Ltd. (320.45, -1.4%) and IndusInd Bank Ltd. (1,000.20, -0.4%).

37 stocks climbed above their 200 day SMA including Craftsman Automation Ltd. (5,009.25, 7.5%) and V-Guard Industries Ltd. (425.55, 7.3%). 10 stocks slipped below their 200 SMA including Thermax Ltd. (4,632.55, -4.7%) and Carborundum Universal Ltd. (1,408.40, -2.9%).

Nifty 50 closed at 23,453.80 (-78.9, -0.3%) , BSE Sensex closed at 77,339.01 (-241.3, -0.3%) while the broader Nifty 500 closed at 21,899.40 (-63.7, -0.3%). Market breadth is in the red. Of the 2,289 stocks traded today, 843 were on the uptrend, and 1,423 went down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 23,453.8 points. The Indian volatility index, Nifty VIX, increased by 2.7% and closed at 15.2 points. Ashoka Buildcon secured two contracts worth Rs 2,791 crore from the National Highways Authority of India (NHAI).

Nifty Midcap 100 closed flat, while Nifty Smallcap 100 closed in the red, following the benchmark index. BSE Metal and Nifty Metal were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.2%.

Asian indices closed in the red while European indices are trading mixed. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures are trading in the green. Nvidia is set to release its Q3 results on Wednesday. Analysts expect Nvidia's Q3 revenue to grow over 80%, reaching $32.9 billion.

• Relative strength index (RSI) indicates that stocks like Delhivery, Aurobindo Pharma, AIA Engineering, and Asian Paints are in the oversold zone.

• Ashoka Buildcon secures two contracts worth Rs 2,791 crore from the National Highways Authority of India (NHAI). The projects involve developing 4-lane economic corridors in West Bengal under hybrid annuity mode (HAM) and covering sections of NH-116A from Kharagpur to Chandrakona & Bowaichandi to Guskara.

• Suraj Estate Developers’ net profit grows by 87.7% YoY to Rs 31.8 crore in Q2FY25, helped by lower operating & projects expenses and finance costs. Revenue grows 5.4% YoY to Rs 109.1 crore during the quarter. However, EBITDA margin declines by 260 bps YoY to 58.4%.

• Rail Vikas Nigam receives a letter of acceptance (LoA) for a Rs 294.9 crore engineering, procurement, and construction (EPC) contract from South Central Railway. The project involves track doubling, electrification, and signaling in Telangana, with completion expected in 24 months.

• Anuj Sethi, Senior Director at Crisil Ratings, expects Indian tyre makers will achieve revenue growth of 7-8% in FY25, driven by a 3-4% increase in prices and volume. He notes the price increase will be gradual as tyre manufacturers incrementally raise prices to offset the rise in natural rubber costs, which account for about half of their raw material needs.

  Tyre makers are likely to see revenue growth of 7-8 per cent this fiscal, driven by a three-four per cent increase in both realisations and volume, Crisil Ratings said on Monday adding that volume growth, will be driven by replacement demand.https://t.co/MAqiiFJSAu

  — businessline (@businessline) November 18, 2024

• Ahluwalia Contracts' revenue grows 18.1% YoY to Rs 1,011.5 crore in Q2FY25, helped by an improvement in the contract work segment. However, net profit declines 29.8% YoY to Rs 38.67 crore due to higher raw materials, construction, sub-contract work, and employee benefits expenses. It appears in a screener for stocks where mutual funds decreased their shareholding in the past quarter.

• Zinka Logistics Solutions' Rs 1,114.7 crore IPO receives bids for 1.2X the available 2.3 crore shares on offer on the last day of bidding. The retail investor quota gets bids for 1.4X the available 41.9 lakh shares.

• Crompton Greaves Consumer Electricals is rising as its net profit increases 28.5% YoY to Rs 124.9 crore in Q2FY25, beating Forecaster estimates by 5%. Revenue grows 6.4% YoY to Rs 1,896 crore in Q2FY25 due to improvements in the electric consumer durables and lighting products segments.

• Metal stocks like Hindalco, Vedanta, and Nalco are rising as China announces the removal of export tax rebate on aluminum and copper products, effective December 1. Previously, these exports received a 13% tax rebate. The move, aimed at curbing the oversupply of Chinese aluminum in global markets, has led to a significant rise in aluminum prices.

  Why Hindalco, Vedanta, Nalco shares' prices are going up today?https://t.co/GDSxRGcDpG

  — ET NOW (@ETNOWlive) November 18, 2024

• Apar Industries plans to expand its production capacity from 7,350 MT to 20,490 MT by Q3FY26, with 5,160 MT operational by March 2025. The company will invest Rs 72.6 crore to add 7,980 MT to its production capacity.

• Brainbees Solutions is rising as its net loss narrows 47% YoY to Rs 62.9 crore in Q2FY25. Revenue increases 26.4% YoY to Rs 1,905.2 crore during the quarter, helped by improvements in the India multi-channel, international, and Globalbees segments. It features in a screener of companies where mutual funds increased their shareholding over the past two months.

• Muthoot Finance rises sharply as its revenue grows 36.7% YoY to Rs 4,928.8 crore in Q2FY25, beating Forecaster estimates by 28.1%. Net profit increases 20% YoY to Rs 1,271 crore during the quarter. It appears in a screener of stocks with increasing revenue every quarter for the past eight quarters.

• Morgan Stanley maintains its 'Overweight' rating on Zomato with a higher target price of Rs 355. The brokerage revises its target citing factors like the growing share of quick commerce in India's retail market, strong execution in food delivery/quick commerce, a solid balance sheet, and an expected large profit pool by 2030. It projects margins of 2.2% by FY27 and 5.1% by FY31, suggesting an annual profit pool of nearly $1 billion.

  #MorganStanley retains 'Overweight' rating on #Zomato.
  
  For more, visit our Research Reports section: https://t.co/x9gNkEkqzypic.twitter.com/RlP64hKljS

  — NDTV Profit (@NDTVProfitIndia) November 18, 2024

• Bharat Global Developers surges to its 5% upper circuit as its board of directors approves a bonus issue of shares to equity holders in the ratio of 8:10. The board also approves the sub-division (stock split) of its existing equity shares from one equity share with a face value of Rs 10 into ten equity shares with a face value of Rs 1.

• KPI Green Energy rises sharply as its board of directors considers and recommends a bonus issue of shares to equity holders in the ratio of 1:2. This means that each shareholder will receive two fully paid-up equity shares for every share they hold on the record date.

• ACME Solar Holdings surges in trade as its arm, ACME Sun Power, secures a Rs 3,753 crore term loan financing from REC for the development and construction of a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN.

• Muthu Murugappan, CEO of EID Parry (India), anticipates distillery volumes of more than 17 crore litres for FY25. He expects a high single-digit EBITDA margin and strong growth in the company's consumer products group (CPG) segment over the next decade. Murugappan also highlights the launch of operations at the Haliyal plant, a project valued at Rs 2,166.7 crore.

  EID PARRY
  
  Management Says:
  - Volume in FY25 to be >17 cr litres
  - Requesting Govt for upward revision in Ethanol Prices
  - CPG biz is 450 cr, +70% in H1
  - Target high single digit EBITDA margin and good growth in CPG biz in a decadehttps://t.co/3Cj6B06SXR

  — Mangalam Maloo (@blitzkreigm) November 18, 2024

• Honasa Consumer plunges to its 20% lower circuit as it reports a net loss of Rs 18.6 crore in Q2FY25, missing Forecaster estimates of a Rs 3.7 crore profit. Revenue declines 6.9% YoY to Rs 461.8 crore during the quarter. It features in a screener of stocks with medium to low Trendlyne Momentum Score.

• IT stocks like Tata Consultancy Services, Infosys, HCL Technologies, Wipro, and LTIMindtree are falling in trade. All constituents of the broader Nifty IT index are also trading in the red, causing it to decline by over 2.8%.

• Swan Energy's revenue falls 15.6% YoY to Rs 1,032.2 crore in Q2FY25, impacted by the textile, energy, construction, and distribution & development segments. Net profit declines 39.4% YoY to Rs 51.3 crore during the quarter. It shows up in a screener of stocks with declining revenue over the past three quarters.

• Jefferies downgrades Indraprastha Gas and Mahanagar Gas to 'Underperform' with lower target prices of Rs 295 and Rs 1,130, respectively, following a second consecutive cut in domestic gas allocations from GAIL India. This decline is expected to significantly impact profitability in the coming years. The brokerage also warns the firms could face a complete halt in domestic gas supplies by mid-2025, further squeezing their margins.

  Share prices of #IndraprasthaGas, #MahanagarGas fall after downgrade from Jefferies. #NDTVProfitStocks
  
  Read ??https://t.co/XdAzQEdcba

  — NDTV Profit (@NDTVProfitIndia) November 18, 2024

• Lemon Tree Hotels is falling as its net profit misses Forecaster estimates by 1.7% despite growing by 30.9% YoY to Rs 29.6 crore. Revenue grows 24% YoY to Rs 284 crore in Q2FY25 during the quarter. It shows up in a screener of companies with high debt.

• Bharat Dynamics' revenue falls 12.2% YoY to Rs 535.5 crore in Q2FY25. Net profit declines 16.7% YoY to Rs 122.5 crore, missing Forecaster estimates by 6.4%. It shows up in a screener of stocks underperforming their industry price change during the quarter.

• Bharat Forge is falling as its Q2FY25 net profit misses Forecaster estimates by 23.3% YoY despite growing by 7.2% YoY to Rs 243.6 crore. Revenue declines 2.3% YoY to Rs 3,688.5 crore, impacted by the forgings segment. It features in a screener of companies with declining revenue every quarter for the past two quarters.

• Hero MotoCorp's Q2FY25 revenue increases 9.8% YoY to Rs 10,482.9 crore, beating Forecaster estimates by 2.3%. Net profit grows 5.7% YoY to Rs 1,063.7 crore during the quarter. The company appears in a screener of stocks with an improving book value per share over the past two years.

• Nifty 50 was trading at 23528.20 (-4.5, 0.0%) , BSE Sensex was trading at 77863.54 (283.2, 0.4%) while the broader Nifty 500 was trading at 21962.15 (-1.0, 0%)

• Market breadth is in the red. Of the 2,059 stocks traded today, 885 were in the positive territory and 1,125 were negative.

Riding High:

Largecap and midcap gainers today include Muthoot Finance Ltd. (1,885.65, 6.2%), Varun Beverages Ltd. (609.85, 5.9%) and Suzlon Energy Ltd. (59.26, 4.5%).

Downers:

Largecap and midcap losers today include Indraprastha Gas Ltd. (325.05, -19.9%), Gujarat Gas Ltd. (452.50, -6.9%) and Oracle Financial Services Software Ltd. (11,272.25, -4.2%).

Movers and Shakers

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Garware Technical Fibres Ltd. (4,690.15, 18.7%), Godrej Industries Ltd. (1,023.80, 9.9%) and National Aluminium Company Ltd. (239.93, 9.1%).

Top high volume losers on BSE were Indraprastha Gas Ltd. (325.05, -19.9%), Mahanagar Gas Ltd. (1,130, -13.9%) and Gujarat State Petronet Ltd. (324.50, -7.6%).

Muthoot Finance Ltd. (1,885.65, 6.2%) was trading at 14.0 times of weekly average. Gujarat Gas Ltd. (452.50, -6.9%) and Sammaan Capital Ltd. (144.59, 7.2%) were trading with volumes 6.1 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks made 52 week highs, while 27 stocks hit their 52 week lows.

Stocks touching their year highs included - DCM Shriram Ltd. (1,322, 1.5%) and Garware Technical Fibres Ltd. (4,690.15, 18.7%).

Stocks making new 52 weeks lows included - AIA Engineering Ltd. (3,411.95, -0.6%) and Astral Ltd. (1,713.15, -1.0%).

19 stocks climbed above their 200 day SMA including Varun Beverages Ltd. (609.85, 5.9%) and KNR Constructions Ltd. (314, 3.8%). 24 stocks slipped below their 200 SMA including Emami Ltd. (615.30, -4.3%) and Vinati Organics Ltd. (1,761.15, -4.0%).