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Trendlyne Analysis

Nifty 50 closed at 19,811.85 (28.5, 0.1%) , BSE Sensex closed at 66,023.24 (92.5, 0.1%) while the broader Nifty 500 closed at 17,627.70 (0.1, 0%), of the 1,983 stocks traded today, 777 showed gains, and 1,171 showed losses.

Indian indices recovered from the day's low and closed in the green, with the Nifty 50 closing at 19,812. The volatility index, Nifty VIX, dropped by 3% and closed at 11.9 points. Tata Technologies' Rs 3,042.5 crore IPO gets bids for 6.5X the available 4.5 crore shares on offer on the first day of bidding.

Nifty Smallcap 100 closed lower, while Nifty Midcap 100 closed in the green following the benchmark index. Nifty FMCG and Nifty IT closed higher than Tuesday’s closing level. According to Trendlyne’s sector dashboard, textiles apparel & accessories emerged as the top-performing sector of the day, with a rise of over 0.7%.

Most European indices trade in the green except for England’s FTSE 100 in the red. US indices futures trade higher indicating a positive start. The data released by South Africa’s Statistical Office indicated that the country’s CPI inflation for October expanded by 5.9% against estimates of 5.5%.

• Relative strength index (RSI) indicates that stocks like Ratnamani Metals & Tubes, Trent, Alkem Laboratories, RattanIndia Enterprises and Narayana Hrudayalaya are in the overbought zone.

• CG Power and Industrial Solutions surges to an all-time high of Rs 469.4 after filing an application with the Ministry of Electronics and Information Technology (MeitY). The application is to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility. They are seeking approval for a subsidy under the Modified Scheme for semiconductor facilities in India.

• IDBI Bank falls over 3% as the government cancels the bidding process to hire an asset valuer for its planned divestment. The Department of Investment and Public Asset Management cites the receipt of only one bid as the reason for the cancellation, stating plans to invite fresh bids in the future.

• Sical Logistics is falling despite its consortium with DSPL Mining bagging an order worth Rs 135 crore from Mahanadi Coalfields, a subsidiary of Coal India. The company will have a 25% share in the contract.

• Realty stocks like Godrej Properties, Oberoi Realty, Phoenix Mills and Brigade Enterprises are falling in trade. All constituents of the broader Nifty Realty index are also trading in the red.

• Gandhar Oil Refinery's Rs 500.7 crore IPO gets bids for 5.5X the available 2.1 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 6.9X the available 1.1 crore shares on offer.

• Flair Writing Industries' Rs 593 crore IPO gets bids for 2.2X the available 1.4 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 2.9X the available 72.1 lakh shares on offer.

• Delhivery falls over 3% as 28.7 lakh shares (0.4% equity), amounting to Rs 110 crore, reportedly change hands in a large trade.

  #Delhivery has 28.7 lakh shares change hands in a large trade. #BQStocks
  
  Read latest #stockmarket updates: https://t.co/C3o19O2hYZpic.twitter.com/BcQvxK8myG

  — BQ Prime (@bqprime) November 22, 2023

• Fedbank Financial Services' Rs 1,092.3 crore IPO gets bids for 0.4X the available 5.6 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 0.7X the available 2.8 crore shares on offer.

• Tata Technologies' Rs 3,042.5 crore IPO gets bids for 6.5X the available 4.5 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 5.4X the available 1.8 crore shares on offer.

• Indian Renewable Energy Development Agency's Rs 2,150.2 crore IPO gets bids for 4.5X the available 47.1 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 4.3X the available 23.5 crore shares on offer.

• According to the Finance Ministry's latest monthly economic review, India is likely to conclude FY24 with solid growth and macroeconomic stability. However, inflation and the influence of external variables on the rupee could pose threats.

  India is expected to end #FY24 with strong growth and macroeconomic stability, although inflation and the impact of external factors on the rupee could pose risks, the finance ministry said.
  
  (@RhikKundu reports) https://t.co/ALEN3iuKZo

  — Mint (@livemint) November 22, 2023

• Wipro signs a strategic partnership with Nvidia to assist healthcare organizations in accelerating the adoption of generative artificial intelligence (gen AI). Wipro will employ NVIDIA AI Enterprise software across its existing healthcare solutions portfolio. It appears in a screener of stocks with low debt.

• Texmaco Rail & Engineering rises as it launches its qualified institutional placement (QIP) issue to raise Rs 750 crore. The floor price is fixed at Rs 135.9 per share. The company appears in a screener of stocks with strong momentum.

• Reliance Industries' Chairman and MD, Mukesh Ambani, says the company plans to invest Rs 20,000 crore in West Bengal in the next three years. The investment aims to provide digital life solutions, add new retail stores and develop the bioenergy segment.

• Rajiv Bajaj, CEO of Bajaj Auto, says that the company is developing a CNG two-wheeler, with an expected launch in 2025. He notes the global absence of CNG two-wheelers, contrasting it with the three-wheeler sector where CNG has been adopted by 60%. He also mentions new launches lined up for the next month and the firm's plans to double production and sales of Triumph motorcycles.

  #CNBCTV18Exclusive | Working on a #CNG two-wheeler, hope to launch it in calendar year 2025. Currently, there is no CNG two-wheeler in the world, says Rajiv Bajaj of Bajaj Auto pic.twitter.com/6dQsZh2eqn

  — CNBC-TV18 (@CNBCTV18Live) November 22, 2023

• HDFC Securities maintains its ‘Buy’ rating on Stylam Industries with a target price of Rs 2,300. This implies an upside of 25.3%. The brokerage is optimistic about the company’s prospects due to its industry-leading EBITDA margins, healthy balance sheet and expanding production capacity. It expects the firm’s net profit to grow at a CAGR of 26.4% over FY23-26.

• Aurobindo Pharma rises to an all-time high of Rs 1,043 as its subsidiary, Acrotech Biopharma, receives the US FDA approval for its anti-cancer drug, Ryzneuta. The global market share of the drug is estimated to be $6 billion. The company appears in a screener of stocks with growing net profit and margins.

• RBI Governor Shaktikanta Das highlights that for the past 1.5 years, the focus of the monetary policy has been on controlling inflation. He adds that while there has been a moderation in core inflation, headline inflation remains exposed to food price shocks.

  "Monetary policy action over last 1.5 years prioritised inflation over growth," RBI Governor said during his address at FIBAC 2023.@DasShaktikantapic.twitter.com/SYYwGa6Xr6

  — ET NOW (@ETNOWlive) November 22, 2023

• Prataap Snack surges more than 5% to touch its 52-week high of Rs 1,080 per share as its promoter, Arun Kumar Mehta, sells 1.3 lakh shares (5.4% stake) in the company in the open market. This transaction takes the promoter holding to 64.3% from 69.8%.

• GMR Power & Urban Infra (GPUIL) rises as it acquires a 29.1% stake (105 crore shares) in GMR Energy (GEL) for $28.5 million (around Rs 237.3 crore) from Power and Energy International, Mauritius. With this deal, GPUIL now holds an 86.9% stake in GMR Energy.

• Tata Technologies raises Rs 791 crore from anchor investors ahead of its IPO by allotting around 1.6 crore shares at Rs 500 each. Investors include BNP Paribas Arbitrage, HSBC, Goldman Sachs, Nippon Life India, SBI Mutual Fund, Mirae Asset Mutual Fund and Bajaj Allianz Life Insurance.

• Goldman Sachs initiates coverage on Polycab India with a 'Buy' rating and a target price of Rs 5,750. The brokerage expects the company to gain from India's infrastructure initiatives and emerging sectors like electric vehicles. It prefers Polycab due to its larger distribution network and greater growth prospects. Meanwhile, it gives a 'Neutral' rating on KEI Industries with a target price of Rs 2,730.

  Today's Standout Brokerage
  Goldman Sachs Initiate coverage on top 2 cable & wire cos
  
  GS on Polycab
  Initiate BUY, TP 5750
  Multiple levers to build on an already dominant market position
  
  GS on KEI Ind
  Neutral, TP Rs 2730
  Well-placed for growth, but ltd capacity@CNBCTV18News

  — Nimesh Shah (@nimeshscnbc) November 22, 2023

• Divya Mahesh Vaghela buys a 0.6% stake in FIEM Industries for Rs 15.2 crore in a bulk deal on Tuesday.

• Pharmaceutical companies like Natco Pharma, GlaxoSmithKline Pharmaceuticals, Sanofi India, Cipla and Pfizer are rising in trade. All the constituents of the broader sectoral index, Nifty Pharma, are also trading in the green.

• Jindal Stainless falls even as SBICAP Trustee Company informs about the release of its founders' pledged shares. This results in the company having no pledged shares with lenders. The company appears in a screener of stocks with low debt.

• JK Paper is falling as it receives a demand notice for income tax and penalty totalling Rs 65.6 crore for the assessment year 2020-21. The stock shows up in a screener for companies where mutual funds have decreased their shareholdings in the last quarter.

• Tata Consultancy Services (TCS) announces a provision of $125 million as an ‘exceptional item’ for Q3FY24, linked to a trade secret lawsuit by US-based Epic Systems. This follows the US Supreme Court rejecting TCS's appeal against an earlier court verdict. Epic Systems filed the lawsuit in 2014, alleging TCS of intellectual property theft.

Riding High:

Largecap and midcap gainers today include CG Power and Industrial Solutions Ltd. (469.35, 19.99%), Tube Investments of India Ltd. (3,730.35, 16.72%) and JSW Energy Ltd. (418.15, 4.43%).

Downers:

Largecap and midcap losers today include Solar Industries India Ltd. (6,649.25, -4.25%), Delhivery Ltd. (385.70, -3.50%) and IDBI Bank Ltd. (60.45, -2.97%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included CG Power and Industrial Solutions Ltd. (469.35, 19.99%), Tube Investments of India Ltd. (3,730.35, 16.72%) and eClerx Services Ltd. (2,627.20, 12.40%).

Top high volume losers on BSE were Sonata Software Ltd. (1,302.30, -4.84%), Raymond Ltd. (1,677.20, -3.74%) and EID Parry (India) Ltd. (491.00, -0.25%).

Vardhman Textiles Ltd. (419.00, 9.06%) was trading at 23.5 times of weekly average. Aegis Logistics Ltd. (328.75, 5.05%) and Godrej Industries Ltd. (667.80, 1.56%) were trading with volumes 14.1 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

33 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,055.75, 2.77%), Bajaj Auto Ltd. (5,751.55, 1.15%) and Bosch Ltd. (20,760.00, 0.20%).

10 stocks climbed above their 200 day SMA including Carborundum Universal Ltd. (1,170.05, 6.89%) and Marico Ltd. (532.70, 1.16%). 10 stocks slipped below their 200 SMA including GMM Pfaudler Ltd. (1,538.80, -3.02%) and Devyani International Ltd. (179.95, -2.89%).

Trendlyne Analysis

Nifty 50closed at 19,783.40 (89.4, 0.5%), BSE Sensexclosed at 65,930.77 (275.6, 0.4%) while the broader Nifty 500closed at 17,627.60 (54.0, 0.3%). Market breadth is in the green. Of the 1,989 stocks traded today, 1,038 showed gains, and 899 showed losses.

Indian indices maintained their gains from the afternoon session and closed in the green, with the Nifty 50closing at 19,783.4 points. The Indian volatility index, Nifty VIX, rose 0.6% and closed at 12.2 points. Godrej Properties closed 2.2% higher after its Executive Chairperson, Pirojsha Godrej, said the company is on track to meet its sales target of Rs 14,000 crore in FY24, according to reports.

Nifty Midcap 100 and Nifty Smallcap 100 closed flat, underperforming the benchmark index. Nifty Realty and Nifty Media closed higher than their Monday close. According to Trendlyne's sector dashboard, Commercial Services & Supplies was the top-performing sector of the day as it rose 1.4%.

Major Asian indices closed flat or higher, except for Hong Kong’s Hang Seng index closing in the red. European indices trade mixed after opening higher. US index futures trade marginally lower, indicating a cautious start to the trading session. Brent crude oil futures trade in the red after rising 5.8% in the past two trading sessions.

• Indian Energy Exchange sees a long buildup in its November 30 future series as its open interest rises 9.6% with a put-call ratio of 0.6.

• Godrej Properties is rising as its Executive Chairperson, Pirojsha Godrej, says the company is on track to meet its sales target of Rs 14,000 crore in FY24, according to reports. The company’s H1FY24 sales bookings grow by 48% YoY to Rs 7,288 crore.

• Infosys rises as it collaborates with Proximus, a digital services and communications solutions provider from Belgium, for an IT modernization and consolidation project. This agreement will allow Proximus to upgrade its IT stack and increase its offering portfolio. It appears in a screener for stocks with strong momentum.

• Angel One, Apar Industries and eClerx Services' annual return on capital employed(RoCE) stands at 56.7%, 46.6% and 34.8%, respectively, outperforming their industries by 8.8, 24.5 and 14.8 percentage points.

• KRChoksey maintains its ‘Buy’ rating on Tata Motors with a target price of Rs 784, implying an upside of 15%. The brokerage expects Jaguar-Land Rover to see an uptick in sales volumes, higher commercial vehicle realisations, and expanding margins in the passenger vehicle segment, led by new launches. It expects the firm’s revenue to grow at a CAGR of 17% over FY23-25.

• Retailers and white goods manufacturers are concerned about the RBI's revision of the risk weight for unsecured consumer loans, including personal and credit card loans, on November 17. They fear this may impact their margins and are waiting for more clarity on the matter.

  White goods firms fear margin squeeze
  Consumer durables retailers and manufacturers might bear the costs of the #RBI's restrictions on easy personal loans, with their margins likely affected by increased borrowing costs, reports @sharleendsouzahttps://t.co/YrvMKiZIrg

  — Business Standard (@bsindia) November 21, 2023

• Indian Renewable Energy Development Agency's Rs 2,150.2 crore IPO gets bids for 2X the available 47.1 crore shares on offer on the first day of bidding. The retail investor quota gets bids for 2X the available 23.5 crore shares on offer.

• Datamatics Global Services signs a contract with a US-based company to provide digital experience services. The client targets to spend $36 million (approx Rs 300 crore) over five years. The stock shows up in a screener for companies with high TTM EPS growth.

• Realty companies like Oberoi Realty, Godrej Properties, Prestige Estates Projects, Brigade Enterprises and Mahindra Lifespace Developersare rising in trade. Barring Phoenix Mills, all the other constituents of the broader sectoral index, BSE Realty, are trading in the green.

• Goldman Sachs raises its Nifty target to 21,800 by the end of 2024, indicating a 10.7% increase over Monday's closing level of 19,694. According to their analysts, returns are likely to be back loaded given the challenging global backdrop and political uncertainty ahead of the 2024 elections.

  Goldman Sachs has raised its target on the Nifty to 21,800 by the end of 2024, implying an upside of 10.7% over Monday's closing level of 19,694.https://t.co/if3A6aQvFx

  — ETMarkets (@ETMarkets) November 21, 2023

• Strides Pharma Science is rising as its subsidiary, Strides Pharma Global Pte, receives approval from the USFDA for its Levetiracetam Oral Solution USP, 100 mg/ml, which is used in the treatment of seizures. The oral solution has a market size of approximately $55 million in the US (as per IQVIA).

• Motilal Oswalkeeps its ‘Buy’ rating on NMDC and raises its target price to Rs 190 from Rs 135, implying an upside of 11.3%. The brokerage remains optimistic about the company’s prospects, expecting increased volumes, better iron ore prices, and strong demand. It estimates the firm’s revenue to grow at a CAGR of 14.5% over FY23-25.

• ICICI Lombard General Insurance appoints Sanjeev Mantri as Managing Director and Chief Executive Officer for a period of five years, effective December 1, 2023.

• According to Bizom, a retail intelligence platform, FMCG sales, excluding staples like edible oils, wheat, and rice, have increased by 4.4% YoY during Diwali. The growth is driven by robust demand in the dairy, home care and confectionary categories. Meanwhile, the beverages segment reports a 4.7% YoY decline in demand.

  #FMCG sales, excluding staples like edible oils, wheat, and rice, witnessed a 4.4% rise during this Diwali season, according to retail intelligence platform Bizom.
  
  (@suneeratweets reports) https://t.co/DSIBDsBzK6

  — Mint (@livemint) November 21, 2023

• RateGain Travel Technologies is rising after successfully raising Rs 600 crore from qualified institutional buyers through the issue of 93.3 lakh shares at a price of Rs 643 each. The company plans to use these funds for strategic investments and acquisitions. The stock shows up in a screener for companies with improving RoCE over the past two years.

• Som Distilleries & Breweries is rising as it receives approval from the Excise department to expand its beer capacity at the Hassan plant.

• HDFC Life Insurance rises as it enters into a corporate tie-up with Karnataka Bank to offer life insurance products to the bank's customers. The company appears in a screener of stocks nearing 52-week high with significant volumes.

• Incred Wealth downgrades its rating on SBI Cards and Payment Services to 'Reduce' and cuts the target price to Rs 600. The brokerage believes that the company will be adversely affected by the RBI increasing the risk weight on credit card receivables. It also lowers its margin and growth expectations and foresees the gradual rise in cost of funds to harm the company's margins.

  Brokerage Radar | Incred downgrades SBI Card to reduce from add; Cut target price to Rs 600 from Rs 1,000.@IncredWealth@SBICard_Connectpic.twitter.com/twkMXFqgOq

  — ET NOW (@ETNOWlive) November 21, 2023

• KEC International rises as it bags orders worth Rs 1,005 crore for railways, transmission & distribution (T&D) and cables projects across India, the Middle East, Europe, Africa and America. It appears in a screener for stocks with improving cash flow and good durability.

• State Bank of India appoints Vinay Tonse as Managing Director, with his tenure extending till November 30, 2025, reports suggest.

• Consumer durables stocks like Rajesh Exports, Voltas, Havells India and Titan are rising in trade. All constituents of the broader BSE Consumer Durables index are also trading in the green.

• Antony Cherukara, CEO of VST Tillers Tractors, says that the company has lowered its growth guidance for tractors to a low single-digit in FY24, from the earlier projection of 10-15%. He anticipates a revenue growth of 20%, with the tiller segment growing by 15-20%. He also highlights the firm’s target to achieve a revenue of Rs 3,000 crore by FY26.

  #OnCNBCTV18 | Revenue growth will not be impacted, as other segments will start to contribute. Have reduced growth projection, lower single-digit growth envisaged for tractors, says Antony Cherukara of VST Tillers Tractors
  
  ?? Continue to maintain ?3,000 crore revenue guidance… pic.twitter.com/ULVBqrXLzx

  — CNBC-TV18 (@CNBCTV18Live) November 21, 2023

• Indian Renewable Energy Development Agency raises Rs 643.3 crore from anchor investors ahead of its IPO by allotting 20.1 crore shares at Rs 32 each. Investors include Goldman Sachs, Societe Generale, BNP Paribas Arbitrage, ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mahindra Life Insurance and SBI Life Insurance Co.

• ABB India is rising as it partners with Titagarh Rail Systems to supply propulsion systems for metro rolling stock projects in India. The partnership has already won orders to design and supply equipment for metro coaches in Gujarat.

• Container Corp of Indiais rising as it signs a memorandum of understanding with Indraprastha Gasto set up liquified natural gas (LNG) and compressed natural gas (CNG) infrastructure at its terminals. Both companies will also explore the feasibility of transporting LNG through railway rakes from LNG terminals near sea ports to various locations in India.

• Vascon Engineersis surging as it receives a letter of intent worth Rs 356.8 crore from Pimpri Chinchwad Municipal Corporation (PCMC). The order involves the construction of a general hospital building for PCMC hospital. The company appears in a screenerof stocks with growing net profit and margins

Riding High:

Largecap and midcap gainers today include Oberoi Realty Ltd. (1,406.60, 4.27%), Ashok Leyland Ltd. (178.05, 3.43%) and Zee Entertainment Enterprises Ltd. (251.75, 3.35%).

Downers:

Largecap and midcap losers today include Coal India Ltd. (334.20, -3.90%), Oil And Natural Gas Corporation Ltd. (191.20, -3.36%) and Max Healthcare Institute Ltd. (604.30, -2.78%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Rallis India Ltd. (235.75, 9.17%), SJVN Ltd. (81.50, 7.31%) and KNR Constructions Ltd. (298.45, 6.06%).

Top high volume losers on BSE were Thermax Ltd. (2,687.75, -3.59%), Gujarat State Petronet Ltd. (272.60, -1.45%) and AIA Engineering Ltd. (3454.60, -0.85%).

Sunteck Realty Ltd. (472.30, 4.08%) was trading at 9.3 times of weekly average. BASF India Ltd. (3,052.40, 3.77%) and EPL Ltd. (198.95, 2.90%) were trading with volumes 9.3 and 7.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

44 stocks overperformed with 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,969.15, -0.13%), Aurobindo Pharma Ltd. (10,27.25, 2.92%) and Bajaj Auto Ltd. (5,685.95, 0.63%).

Stock making new 52 weeks lows included - Alkyl Amines Chemicals Ltd. (2,130.00, -0.07%).

16 stocks climbed above their 200 day SMA including Chemplast Sanmar Ltd. (447.00, 4.35%) and VIP Industries Ltd. (633.35, 3.79%). 2 stocks slipped below their 200 SMA including Sterlite Technologies Ltd. (149.00, -2.36%) and Marico Ltd. (526.60, 0.16%).

Trendlyne Analysis

Nifty 50closed at 19,694.00 (-37.8, -0.2%), BSE Sensexclosed at 65,655.15 (-139.6, -0.2%) while the broader Nifty 500closed at 17,573.65 (-26.9, -0.2%). Market breadth is even. Of the 2,017 stocks traded today, 976 showed gains, and 999 showed losses.

Indian indices extended the losses from the afternoon session and closed in the red, with the Nifty 50closing at 19,694. The volatility index, Nifty VIX, rose by 2.7% and closed at 12.2 points. Cipla received a warning letter from the US FDA for its Pithampur manufacturing facility.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat with the benchmark index closing lower. Nifty PSU Bank and Nifty IT closed higher than Friday’s closing level. According to Trendlyne’s sector dashboard, telecommunication equipment emerged as the top-performing sector of the day, with a rise of over 3.6%. 

Most European indices trade in the green except for England’s FTSE 100 and Switzerland’s SMI index trading in the red. US indices futures trade higher indicating a positive start. Former OpenAI CEO and co-founder Sam Altman, who was fired by the board, joins OpenAI investor Microsoft to lead its advanced AI research team.

• Money flow index (MFI) indicates that stocks like Solar Industries India, Alkem Laboratories, Suzlon Energy and Ratnamani Metals & Tubes are in the overbought zone.

• Dreamfolks Services rises as it partners with three new airports in Malaysia — Kuala Lumpur, Kota Kinabalu and Kuching international airports. The company appears in a screener of stocks with improving annual net profit.

• SVF Doorbell (Cayman) sells a 2.5% stake in Delhivery for approx Rs 738.6 crore in a bulk deal on Friday.

• KRChoksey maintains its ‘Buy’ rating on Ashok Leyland with a target price of Rs 221, indicating an upside of 28.7%. The brokerage expects the firm’s sales volume to continue rising on the back of healthy demand for commercial vehicles, distribution expansion and new launches. It also sees margin expansion driven by softening input costs, higher net realisations and operating efficiencies. The brokerage expects the firm’s revenue to grow at a CAGR of 11.8% over FY23-25.

• EIH surges over 4.8% and ranks high in Trendlyne's checklist with a score of 78.3%. The stock is in the strong buy zone. It appears in a screener of stocks with high TTM EPS growth.

• Brent crude oil prices rise on expectations of OPEC+ deepening supply cuts to support prices. This upturn comes after a four-week decline due to fading worries about potential supply disruptions in the Middle East, caused by the Israel-Hamas conflict.

  Oil extends gains as OPEC+ to mull deeper cuts; Brent hits $80.72 per barrel#Oil#oilprice#oilandgas#brentcrudehttps://t.co/4ppCUqcBWG

  — Business Today (@business_today) November 20, 2023

• Hindustan Unilever sees five analyst target price downgrades and two recommendation downgrades in the past month. Can Fin Homes, NOCIL and ICICI Prudential Life Insurance see four analyst target price downgrades over the same period.

• Software stocks like HCL Technologies, Persistent Systems, L&T Technology Services, Wipro and Mphasis are rising in trade. Barring Infosys, all the other constituents of the broader sectoral index, Nifty IT, are trading in the green.

• Tata Investment Corpsurges almost 14% to touch its all-time highof Rs 4,518.3 per share. It has Trendlyne durability and momentum scores above 60. However, the stock is in the 'Sell' zone. It appears in a screenerfor high-return, technically strong value stocks.

• Companies like TVS Motor, Yes Bank and IDFC First Bank, among others, are set to be included in the S&P BSE 100 index, while Tata Elxsi, Mphasis, Voltas and others will make an exit, during the reconstitution of S&P BSE indices. The changes will be effective from December 18.

  #MarketsWthMC | S&P BSE 100 index undergoes a major shakeup with seven new entries, including Yes Bank and TVS Motor, while Bandhan Bank, ACC, Voltas, and four others exit.
  
  More details????https://t.co/wtRWWfIQYj#BSE#NSE#Stocks#StockMarket#Investments

  — Moneycontrol (@moneycontrolcom) November 20, 2023

• Tata Consultancy Servicesrises as it signs an agreement with Australia’s primary securities exchange, ASX, to provide a next-generation clearing and settlement platform. This new system, replacing the current one, will cater to the Australian market using TCS’ flagship product, TCS BaNCS, for market infrastructure. It appears in a screenerfor stocks with strong momentum.

• Persistent Systemstouches a new 52-week high of Rs 6,494, following the launch of a new open-source maintenance service. This will enable firms to keep their open-source software up to date with patches, help with bug fixes and incorporate the latest software releases.

• Blue Dart Express announces a strategic partnership with India Post to introduce automated digital parcel lockers at selected post offices.

• Manoj Sanghvi, Business Unit Head at Ratnamani Metals & Tubes, says the company targets to achieve a margin of 16-18% in FY24. He adds that its order book stands at Rs 2,950 crore and 20% of its revenue comes from exports. Sanghvi states that the company aims to achieve a 10% growth in its revenue.

  #OnCNBCTV18 | Last year we did ?4,400 crore, targetting 10% growth in #revenues this year. Outperformed our #margin guidance in the first 2 quarters, says Manoj Sanghvi of Ratnamani Metals & Tubes pic.twitter.com/GEQ85zPLSU

  — CNBC-TV18 (@CNBCTV18Live) November 20, 2023

• Mankind Pharma surges to its all-time high of Rs 2,035 per share as the Financial Times Stock Exchange (FTSE) adds the stock to its All-World, Large-Cap, Total Cap and All-Cap Indices.

• Geojit BNP Paribas maintains its ‘Buy’ rating on Bank of Baroda and raises the target price to Rs 222 from Rs 217. This implies an upside of 12.1%. The brokerage believes the bank’s net interest income will see robust growth on the back of its expanding loan book. It adds that the firm’s improving asset quality will aid in sustainable long-term growth.

• Zen Technologies is rising as it bags an order worth Rs 42 crore for the export of simulators. The stock shows up in a screener for companies with strong annual EPS growth.

• Ashok Atluri, the Managing Director of Zen Technologies, announces the company's revenue targets of Rs 450 crore for FY24 and Rs 900 crore for FY25. He also states that the current order book is at Rs 100 crore and a new export order of Rs 42 crore is set to be executed in the coming 18 months.

  Zen Technologies says
  
  Revenue Targets
  FY24 ?????450cr
  FY25 ?????900cr
  
  ????Margins at 35%
  
  Adds no reason to worry on order inflows as there are tailwinds in domestic & export markets????#StockMarket#Niftyhttps://t.co/pZ8BR2zHum

  — Nigel D'Souza (@Nigel__DSouza) November 20, 2023

• Orpheus Trading, promoter of 360 One Wam, sells a 0.3% stake in the company on Thursday. It now holds below 0.1%.

• Newgen Software is rising as its board of directors informs the exchanges about its intent to issue bonus shares to its equity shareholders. The board will meet on November 27 to consider the proposal for the issuance of bonus shares.

• Exide Industries touches its 52-week high of Rs 286.3 per share as it wins the right to use the 'Chloride' trademark in India from the Delhi High Court. This comes after the company signed a settlement agreement with Vertiv Company Group and Vertiv Energy to dispose off the suits in Delhi High Court.

• UBS maintains its ‘Buy’ rating on Indian Hotels Co with an upgraded target price of Rs 500. The brokerage notes that the market is doubtful about growth in average room revenue (ARR) and occupancy. However, it remains positive on the overall market supply-demand balance. It believes the company will consistently outperform in room availability, ARR, and occupancy growth.

  Brokerage Radar | UBS on Indian Hotels maintains Buy; raises target to Rs 500 per share pic.twitter.com/KMcFwhwJ1Z

  — ET NOW (@ETNOWlive) November 20, 2023

• Larsen & Toubro falls as it receives tax penalties of Rs 111.3 crore for 2016 and Rs 127.6 crore for 2017 from the General Tax Authority of Qatar. The company also bags a mega order worth Rs 10,000-15,000 crore for its hydrocarbon business in the Middle East. The company appears in a screener of stocks with growing quarterly net profit and margins.

• Talbros Automotive Components is falling despite winning multiple orders worth Rs 580 crore from international and domestic clients. The orders are to be executed in the next five years, starting from FY25.

• Dalmia Bharat Sugar and Industriesfalls as it faces operational disruptions due to farmers' agitation in Kolhapur. The company appears in a screenerof stocks with declining RoE.

• Oberoi Realtyrises to its all-time high of Rs 1,349 per share as it acquires a 14.8-acre land parcel in Gurugram from Ireo Residencies for Rs 597 crore. The company plans to develop a luxury residential housing project there.

Riding High:

Largecap and midcap gainers today include Adani Wilmar Ltd. (310.70, 5.32%), GlaxoSmithKline Pharmaceuticals Ltd. (1,647.95, 4.52%) and PB Fintech Ltd. (829.45, 3.33%).

Downers:

Largecap and midcap losers today include Solar Industries India Ltd. (6,956.50, -5.87%), Balkrishna Industries Ltd. (2,496.70, -5.56%) and Zomato Ltd. (118.15, -3.31%).

Movers and Shakers

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

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (4,501.75, 15.17%), Latent View Analytics Ltd. (450.50, 9.25%) and ITI Ltd. (278.75, 7.07%).

Top high volume losers on BSE were Rajesh Exports Ltd. (351.95, -6.87%), Aster DM Healthcare Ltd. (338.00, -3.18%) and Chemplast Sanmar Ltd. (428.35, -1.86%).

EIH Ltd. (243.30, 4.65%) was trading at 9.8 times of weekly average. Eureka Forbes Ltd. (519.30, -1.58%) and Sheela Foam Ltd. (1145.10, 3.86%) were trading with volumes 8.2 and 8.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

57 stocks hit their 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,967.95, 2.42%), Apollo Hospitals Enterprise Ltd. (5,473.95, -0.09%) and Aurobindo Pharma Ltd. (998.10, -0.92%).

Stocks making new 52 weeks lows included - Rajesh Exports Ltd. (351.95, -6.87%) and Adani Wilmar Ltd. (310.70, 5.32%).

12 stocks climbed above their 200 day SMA including Sheela Foam Ltd. (1,145.10, 3.86%) and Just Dial Ltd. (715.00, 2.28%). 7 stocks slipped below their 200 SMA including Sterlite Technologies Ltd. (152.60, -3.14%) and Adani Enterprises Ltd. (2,149.85, -2.67%).

Trendlyne Analysis

Nifty 50closed at 19,731.80 (-33.4, -0.2%), BSE Sensexclosed at 65,794.73 (-187.8, -0.3%) while the broader Nifty 500closed at 17,600.50 (7.4, 0.0%). Market breadth is holding steady. Of the 1,986 stocks traded today, 973 were on the uptick, and 983 were down.

Indian indices recovered from their day lows and closed marginally lower, with the benchmark Nifty 50 index closing at 19,731.8 points. GMR Airport Infrastructure closed in the green as reports suggested a 19% YoY growth in its total passenger traffic for October, reaching 98.4 lakh. 

Nifty Smallcap 100 and Nifty Midcap 100 closed marginally higher, outperforming the benchmark index. Nifty Pharma and Nifty FMCG closed higher than their Thursday close. According to Trendlyne's sector dashboard, Hardware Technology & Equipment was the top-performing sector of the week as it rose 7.8%.

Major European indices traded flat or higher, despite the Asian indices closing mixed. US index futures traded marginally higher, indicating a positive start to the trading session. Brent crude oil futures traded in the green after falling 4.3% on Thursday and are set to post weekly losses for a fourth straight week.

• Relative strength index (RSI) indicates that stocks like Suzlon Energy, Alkem Laboratories, Ratnamani Metals & Tubes and Solar Industries India are in the overbought zone.

• BSEand The New India Assurancetouch their 52-week highsof Rs 2,445 and Rs 155.2 per share, respectively. The former has risen by 22.2% over the past week, while the latter rose 10.5%.

• Multi Commodity Exchange of India, MTAR Technologies, Cholamandalam Financial Holdings, and PCBL witness a decrease in mutual fund holdings in the past month.

• Lupin receives approval from the US Food and Drug Administration for its abbreviated new drug application for ganirelix acetate injection. This injection had an estimated annual sales of $84 million in the US till September 2023.

• Reports suggest that telecom operators are expected to lose Rs 250 crore in SMS revenue to the OTT segment as OTT messaging traffic in India is expected to reach 2,440 crore by 2028.

  #Telecom operators projected to lose Rs 250 cr in SMS revenue to OTTs.#TelecomSector#OTT#SMS#revenuehttps://t.co/q3gL58eXqy

  — Business Standard (@bsindia) November 17, 2023

• Tata Investment Corp surges over 18.4% to an all-time high of Rs 3,884.8 per share. It ranks high in Trendlyne's checklist with a score of 59.1%. However, it is in the strong sell zone. It appears in a screener of stocks with strong momentum.

• Motilal Oswal reiterates its ‘Buy’ rating on Grasim Industries with a target price of Rs 2,380. This implies an upside of 20.3%. The brokerage is positive about the firm’s prospects on the back of its viscose staple fibre segment. It also expects its EBITDA margin to expand in the coming quarters. The brokerage expects the company’s revenue to grow at a CAGR of 9.5% over FY23-25.

• Hardware technology & equipment, software & services and realty sectors rise by more than 4.3% over the past week.

• Dinesh Khara, Chairman of State Bank of India expects the bank's capital requirements to grow by 55-60 bps due to the increase in credit risk weight to 125%. He also states that the board of directors has approved raising Rs 10,000 crore.

  #OnETNOW | "400 bps impact on SBI Card due to increase in risk weights," Dinesh Khara, Chairman, State Bank of India said as he talks about the impact of RBI tightening lending norms. @TheOfficialSBIpic.twitter.com/JIrwcFuQiW

  — ET NOW (@ETNOWlive) November 17, 2023

• Foreign institutional investors invest Rs 5,913.4 crore in the equity market over the past week, according to Trendlyne's FII dashboard. However, index options witness the highest outflow of Rs 86,783.5 crore from foreign investors.

• GMR Airport Infrastructurerises as reports suggest a 19% YoY growth in its total passenger traffic for October, reaching 98.4 lakh. The company appears in a screenerof stocks with improving annual net profit for the past two years.

• Reports suggest that India's weightage in the MSCI emerging markets (EM) index is expected to rise by 42 bps to 16.3%, aided by the inclusion of nine new stocks. This change will come into effect from November 30, increasing India's representation to 131 stocks, which is an all-time high.

  #MintPrimer | India’s weightage on the MSCI emerging markets (EM) index is tipped to rise to 16.3% from the current 15.88% with nine fresh stock inclusions in the gauge. The addition, effective 30 November, will take India’s representation to an all-time high of 131 stocks. Mint… pic.twitter.com/WAakFojcTr

  — Mint (@livemint) November 17, 2023

• Delhiveryis falling as reports suggest that Softbank is looking to offload its 4% stake worth $150 million (Rs 1,249.2 crore) in the company through a block deal. The company shows up in a screenerfor stocks with low Piotroski scores, implying weak financials.

• Kotak Mahindra Bank appoints Ashok Vaswani as the Managing Director and Chief Executive Officer, with effect from January 1, 2024.

• Anup Bagchi, the Chief Executive Officer of ICICI Prudential Life Insurance, expects its average premium equivalent (APE) to reach the industry average by the end of FY25. He also expects retail protection to stabilise at 25-30%.

  #CNBCTV18Exclusive | Target will be to deliver topline in-line with industry & then going beyond. Optimistic on #APE growth reaching #industry average by FY25-end. Margin by & large has corrected, says Anup Bagchi of @ICICIPruLifepic.twitter.com/m9kiv9bDVs

  — CNBC-TV18 (@CNBCTV18Live) November 17, 2023

• IRB Infrastructure Developers rises to an all-time high of Rs 38.4 after Moody's confirmed the company's good long-term financial rating. Moody's maintains its Ba1 CFR rating, indicating confidence in IRB's financial stability, despite expecting some temporary weakening over the next 12-18 months.

• Technocraft Industries (India) falls as it discontinues the production of melange yarn in its Murbad, Maharashtra, factory. The segment currently contributes 5.7% to the total revenue. The company appears in a screener of stocks with declining net profit and margins.

• Apple's Chinese component manufacturer, Luxshare, invests $330 million (approximately Rs 2,747 crore) in Vietnam instead of India. The move comes after the company failed to expand in India due to the political tension with China.

  Luxshare, Apple's key supplier, pivots to Vietnam amid India expansion hurdles due to political tensions. @surajeetatbs delves into how Vietnam is benefiting from India's loss.
  
  Read here????https://t.co/S1CDvkMfTF#Luxshare#Apple#Vietnam#Indiapic.twitter.com/n7cqDLvrmY

  — Business Standard (@bsindia) November 17, 2023

• HDFC Securities maintains its ‘Buy’ rating on KNR Constructions with a target price of Rs 341, implying an upside of 21.2%. The brokerage remains optimistic about the company’s prospects due to its strong balance sheet, robust execution capabilities and strong order pipeline. It expects the firm’s net profit to grow at a CAGR of 10.4% over FY23-26.

• SJVN rises as it signs a 200 MW wind power purchase agreement with Solar Energy Corp of India. The project, to be developed by SJVN Green Energy, is expected to cost Rs 1,400 crore and is slated for commissioning by November 2025. The company appears in a screener of stocks with increasing quarterly profits.

• PSU banks like Union Bank of India, State Bank of India, Punjab National Bank and Bank of India are falling in trade as the Reserve Bank of India increases credit risk weight to 125% from 100%. All constituents of the broader Nifty PSU Bank index are also trading in the red.

• AGS Transact Technologies wins an order worth Rs 1,100 crore from State Bank of India. This contract, to be executed over the next seven years, involves deploying over 2,500 ATMs as part of the bank's outsourced/managed services portfolio.

• Brigade Enterprisessurges more than 4% as it signs a joint development agreement (JDA) with Krishna Priya Estates and Micro Labs. The JDA aims to develop 2 million square feet of residential housing in Yelahanka, Bengaluru, with a gross development value (GDV) of Rs 2,100 crore.

• DCX Systemsrises as its board approves the raising of Rs 500 crore in one or more tranches through public issues, preferential issues, rights issues, private placements, QIP or any combination. The company appears in a screenerof stocks with high TTM EPS growth.

• JSW Infrastructureis rising as it bags an order worth Rs 4,119 crore from the Karnataka Maritime Board to develop the Keni port in Karnataka. The port will begin operations with a capacity of 44 MTPA and then expand to 117 MTPA by 2035.

Riding High:

Largecap and midcap gainers today include FSN E-Commerce Ventures Ltd. (167.65, 9.25%), Solar Industries India Ltd. (7,390.50, 7.94%) and General Insurance Corporation of India (259.00, 7.05%).

Downers:

Largecap and midcap losers today include Aditya Birla Capital Ltd. (170.95, -5.66%), SBI Cards and Payment Services Ltd. (732.85, -5.14%) and IDBI Bank Ltd. (62.65, -4.50%).

Volume Rockets

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

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (3,908.90, 20.00%), Varroc Engineering Ltd. (554.75, 16.88%) and FSN E-Commerce Ventures Ltd. (167.65, 9.25%).

Top high volume losers on BSE were RBL Bank Ltd. (234.80, -7.76%), Aditya Birla Capital Ltd. (170.95, -5.66%) and SBI Cards and Payment Services Ltd. (732.85, -5.14%).

Delhivery Ltd. (399.75, -3.41%) was trading at 45.1 times of weekly average. Rossari Biotech Ltd. (726.15, -0.34%) and Rites Ltd. (477.25, 6.11%) were trading with volumes 12.1 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

62 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,921.40, -0.45%), Apollo Hospitals Enterprise Ltd. (5,478.95, 2.63%) and Bajaj Auto Ltd. (5,631.50, 1.45%).

Stock making new 52 weeks lows included - Rajesh Exports Ltd. (377.90, -3.76%).

11 stocks climbed above their 200 day SMA including Pidilite Industries Ltd. (2,510.30, 2.08%) and Godrej Consumer Products Ltd. (996.95, 1.75%). 7 stocks slipped below their 200 SMA including Aditya Birla Capital Ltd. (170.95, -5.66%) and State Bank of India (563.05, -3.69%).

Trendlyne Analysis

Nifty 50 closed at 19,765.20 (89.8, 0.5%) , BSE Sensex closed at 65,982.48 (306.6, 0.5%) while the broader Nifty 500 closed at 17,593.10 (85.1, 0.5%), of the 1,990 stocks traded today, 949 were gainers and 990 were losers.

Indian indices extended the gains from the afternoon session and closed in the green, with the Nifty 50 closing at 19,765. The volatility index, Nifty VIX, rose by 4.6% and closed at 11.6 points. Goldman Sachs buys a 1.2% stake (23.2 lakh shares) in the ASK Automotives at an average price of Rs 310 per share.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green following the benchmark index. Nifty Realty and Nifty Healthcare closed higher than Wednesday’s closing level. According to Trendlyne’s sector dashboard, software & services emerged as the top-performing sector of the day, with a rise of over 2.3%.

Most European indices trade in the green except for England’s FTSE 100 and Switzerland’s SMI index trading in the red. US indices futures trade lower indicating a negative start. The data released by Japan’s Ministry of Finance indicated that Japan’s exports for October expanded by 1.6% YoY against an expectation of 1.2% growth.

• Coforge sees a long buildup in its November 30 future series as its open interest rises 19.8% with a put-call ratio of 1.3.

• Dr. Reddy's Laboratories rises following the launch of Nerivio, a wearable migraine management device suitable for patients aged 12 and above. The company appears in a screener for stocks with improving book value per share.

• Axis Direct keeps its ‘Buy’ rating on Healthcare Global Enterprises with a target price of Rs 410, implying an upside of 13.2%. The brokerage expects the company to outpace the oncology industry's growth rate in the medium term, driven by its market leadership position. It also expects the firm to benefit from increased international patient volume.

• Jio Financial Services is rising as the RBI approves the appointment of Isha Ambani, Anshuman Thakur and Hitesh Kumar Sethia as its directors.

  RBI approves appointment of Isha Ambani, Anshuman Thakur, Hitesh Sethia as directors of Jio Financial Services #ishaambani#jfs#jiofinancial#jiofinhttps://t.co/Ab5jicYXZ7

  — Business Today (@business_today) November 16, 2023

• General Insurance Corp of India surges over 8% to touch its 52-week high of Rs 246.9 per share. It ranks high in Trendlyne's checklist with a score of 72.7%. It is in the buy zone and appears in a screener for undervalued growth stocks.

• Mazagon Dock Shipbuilders, BLS International Services, and Safari Industries’ stock prices increase 553.2%, 413.1% and 359.1% respectively over the past two years.

• Pharmaceuticals and healthcare companies like Glenmark Pharmaceuticals, Dr. Reddy’s Laboratories, Dr. Lal Pathlabs, Lupin and Max Health Institute are rising in trade. Barring Torrent Pharmaceuticals, all the other constituents of the broader sectoral index, Nifty Healthcare, are trading in the green.

• KRChoksey downgrades its rating on UNO Minda to ‘Add’ from ‘Buy’ but keeps its target price unchanged at Rs 680. This implies an upside of 6.4%. The brokerage believes that the firm is well-placed to benefit from the rising demand for vehicles, rising content per vehicle, and premiumisation. However, it has revised the recommendation as it believes the stock is trading at expensive valuations.

• According to reports, 35.4 lakh shares (0.2% equity) of Petronet LNG, amounting to approximately Rs 70.1 crore, change hands in a large trade.

  #PetronetLNG has 35.4 lakh shares change hands in a large trade. #BQStocks
  
  Read latest #stockmarket updates: https://t.co/6LlGtfbfp1pic.twitter.com/G6HF4ZmCEz

  — BQ Prime (@bqprime) November 16, 2023

• PTC India is reportedly set to become debt-free after selling its stakes in its arm, PTC Energy, to ONGC for an enterprise value of Rs 2,021 crore.

• Pennar Industries rises more than 8% as it bags orders worth Rs 669 crore for various business verticals. These orders have been placed by various domestic and international clients. The company appears in a screener of stocks with high TTM EPS growth.

• Divi's Laboratories receives a GST demand notice for Rs 82 crore from the Commissioner of Central Tax. The company has filed an appeal with the Appellate Authority.

• The Centre slashes the windfall tax on locally produced crude oil to Rs 6,300 per tonne from Rs 9,800 earlier. It also cuts the export tax on diesel to Rs 1 per litre, while maintaining it a ‘Nil’ tax rate on aviation turbine fuel (ATF) and petrol.

  Central govt on Thursday cut the #WindfallTax on #CrudeOil from Rs 9,800 per tonne to Rs 6,300 per tonne. It also reduced the windfall tax on #diesel from Rs 2 per litre to Rs 1.
  https://t.co/f4Jykdz0T7

  — Economic Times (@EconomicTimes) November 16, 2023

• Vikas Lifecare wins an order worth Rs 45.9 crore for the supply of 40,000 gas meters from Gujarat Gas for its material subsidiary, Genesis Gas Solutions.

• IT stocks like Coforge, Tata Consultancy Services, Tech Mahindra, Mphasis and Infosys are rising in trade. The broader sectoral, Nifty IT, is also trading in the green.

• Cyient is rising as it signs a letter of intent (LoI) with Thales to reduce carbon emissions. Thales is working with its strategic suppliers to achieve its CO2 emissions reduction targets for 2030.

• Global engineering services firm Tata Technologies sets the price band for its IPO at Rs 475-500 per share. The size of the issue is Rs 3,042.5 crore, and is completely an offer for sale. The issue opens on November 22.

  #IPOAlert | #TataTechnologies has set the price band for its maiden public issue at Rs 475-500 per share. The public issue will open on Nov 22 and the closing date will be Nov 24.
  
  Read more ??https://t.co/6kMgJSaOOB#IPO

  — Moneycontrol (@moneycontrolcom) November 16, 2023

• Puravankara secures redevelopment rights for two housing societies in Mumbai with a potential gross development value of Rs 1,500 crore, according to reports. The company shows up in a screener for stocks with consistently high returns over the past five years.

• Dabur India is rising as its US subsidiaries, Dabur International and Dermoviva Skin Essentials, are removed as defendants from multiple lawsuits filed in a US court. The lawsuits are related to allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other health issues.

• ASK Automotive rises as Goldman Sachs buys a 1.2% stake (23.2 lakh shares) in the company at an average price of Rs 310 per share, amounting to Rs 72 crore. The deal has been executed through an open market transaction.

• Jefferies maintains its ‘Buy’ rating on Grasim Industries with a target price of Rs 2,300. The brokerage says that Grasim's Q2 EBITDA missed estimates due to a weaker chemical segment. However, its VSF (viscose staple fibre) segment has performed better on improved volumes. Jefferies adds that the focus remains on the paint launch in the next 3-4 months.

  #CNBCTV18Market | #Jefferies gives a buy call on #Grasim, says, VSF surprised positively on better volumes/improved unit EBITDA pic.twitter.com/2sIl6zs00q

  — CNBC-TV18 (@CNBCTV18Live) November 16, 2023

• Suzlon Energy rises to an all-time high of Rs 42 following the announcement of an updated model and manufacture listing for its S144 wind turbines with an extendable capacity of 3.1 MW. The company appears in a screener of stocks with strong momentum.

• The US International Development Finance Corp (DFC) commits $553 million (around Rs 4,600 crore) to Adani Ports’ joint venture in Sri Lanka, the Colombo port terminal project. The stock shows up in a screener for companies with decreasing promoter pledges.

• Bajaj Finance falls following an RBI directive to stop loan sanctions and disbursal through its 'eCOM, and 'insta EMI card' products, citing violations in digital lending norms, particularly non-issuance of key fact statements to borrowers. The company appears in a screener of stocks with declining net cash flow.

• Tata Consultancy Services fixes November 25 as the record date for its Rs 17,000 crore buyback. It will buy back nearly 4.1 crore shares at Rs 4,150 each. The stock shows up in a screener for companies with improving cash flows from operations over the past two years.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (241.95, 7.63%), Coforge Ltd. (5,701.10, 6.70%) and Bosch Ltd. (20,589.15, 4.39%).

Downers:

Largecap and midcap losers today include Union Bank of India (110.30, -2.04%), Supreme Industries Ltd. (4,070.55, -1.96%) and Bayer Cropscience Ltd. (5,465.60, -1.70%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Alok Industries Ltd. (21.30, 9.79%), Sterlite Technologies Ltd. (157.15, 8.83%) and General Insurance Corporation of India (241.95, 7.63%).

Top high volume losers on BSE were 360 One Wam Ltd. (543.10, -3.04%) and Kalpataru Projects International Ltd. (653.60, -0.67%).

TCI Express Ltd. (1,390.65, 4.12%) was trading at 19.6 times of weekly average. CESC Ltd. (96.05, 5.20%) and Happiest Minds Technologies Ltd. (853.70, 1.60%) were trading with volumes 14.6 and 13.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

57 stocks made 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,930.10, -0.98%), Apollo Hospitals Enterprise Ltd. (5,338.75, 2.18%) and Bajaj Auto Ltd. (5,550.90, 0.26%).

Stock making new 52 weeks lows included - Rajesh Exports Ltd. (392.65, -2.66%).

16 stocks climbed above their 200 day SMA including Sterlite Technologies Ltd. (157.15, 8.83%) and Tech Mahindra Ltd. (1,207.20, 2.85%). 4 stocks slipped below their 200 SMA including La Opala RG Ltd. (396.50, -4.38%) and Chemplast Sanmar Ltd. (441.70, -1.68%).

Trendlyne Analysis

Nifty 50closed at 19,675.45 (231.9, 1.2%), BSE Sensexclosed at 65,675.93 (742.1, 1.1%) while the broader Nifty 500closed at 17,508.05 (189.5, 1.1%). Market breadth is in the green. Of the 1,988 stocks traded today, 1,212 were on the uptrend, and 728 went down.

Indian indices extended their gains from the afternoon session and closed in the green, with the Nifty 50closing at 19,675.5 points. Narayana Hrudayalaya hit its all-time high and closed 5.1% higher after its Q2FY24 net profit rose by 34.2% YoY to Rs 226.6 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, taking cues from the benchmark index. Nifty Energy and Nifty Realty closed higher than their Monday close. According to Trendlyne's sector dashboard, Realty was the top-performing sector of the day as it rose 2.5%.

European indices traded in the green, in line with the Asian indices amid positive global cues. UK consumer price inflation (CPI) fell to 4.6% YoY in October against 6.7% in September. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures traded in the red after closing 0.2% lower on Tuesday.

• Money flow index (MFI) indicates that stocks like Trent, Central Depository Services (India), Alkem Laboratories and Ratnamani Metals & Tubes are in the overbought zone.

• Jaiprakash Associates is rising as it enters into a settlement pact to transfer 18.9 core shares to its lender, ICICI Bank. The company shows up in a screener for companies with strong momentum scores.

• India's trade deficit widens to a record high of around $31.5 billion in October due to higher imports. India’s merchandise exports stand at $33.6 billion in October, while imports jump to $65 billion.

  Commerce Secretary Sunil Barthwal announced that India's merchandise trade deficit for October amounted to $31.46 billion.
  
  Read on here????https://t.co/kGk9ypTrRy#India#TradeDeficit#Export#Import

  — Moneycontrol (@moneycontrolcom) November 15, 2023

• Natco Pharma is falling despite its Q2FY24 net profit jumping 6.5X YoY to Rs 369 crore and revenue surging by 138.7% YoY to Rs 1,031.4 crore. This is driven by robust growth in formulation exports and the domestic agrochemical business. The company shows up in a screener for stocks in the PE buy zone with high durability scores and rising momentum scores.

• Karur Vysya Bank, Tata Elxsi, Bajaj Auto and CIE Automotive India outrperform the Nifty 50 index over the past month post their Q2FY24 results.

• PSU bank stocks like Bank of Baroda, Canara Bank, Bank of India and Union Bank of India are rising in trade. All constituents of the broader Nifty PSU Bank index are also trading in the red.

• Morgan Stanley maintains its ‘Underweight’ rating on Indiabulls Housing Finance with a target price of Rs 103. The brokerage says that the company’s Q2 earnings have been in line with its estimates and PPOP (pre-provision operating profit) beat estimates by 43%, driven by higher assignment income and lower operating costs.

  Brokerage Radar | Morgan Stanley maintains underweight on Indiabulls Housing with target price of Rs.103@MorganStanley@ibhomeloanspic.twitter.com/KeAmP74Efp

  — ET NOW (@ETNOWlive) November 15, 2023

• Cipla completes the sale of its 51.8% stake in Cipla Quality Chemicals, through its subsidiaries Cipla EU and Meditab Holdings, for $25 million (around Rs 207.9 crore).

• Gland Pharmareceives tentative approval from the US Food and Drug Administration (US FDA) for its angiotensin injection. It has reported sales of $38 million in the US over the past 12 months ending September 2023. The stock shows up in a screenerfor companies with zero promoter pledge.

• Aster DM Healthcarefalls as it reports a net loss of Rs 30.8 crore in Q2FY24, against a net profit of Rs 46.2 crore in Q2FY23, due to rising raw material and employee benefit expenses. However, its revenue grows by 17.3% YoY, aided by the hospitals, clinics and retail pharmacies segments. The company appears in a screenerof stocks with declining net profit and margins.

• Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, reports a 35% revenue growth in Q3 so far. He adds that it plans to add nine stores in Q3 and 12-13 stores in Q4. He notes a reduction of Rs 115 crore in gross debt in Q2FY24 and targets a 15% debt reduction for FY24.

  #OnCNBCTV18 | EBITDA #margin will continue to reduce as share of revenue from franchise store 7 will see margin settle around 6.5-7%. We will add 9 stores in #Q3 & 12-15 stores in #Q4 , says Ramesh Kalyanaraman of Kalyan Jewellers pic.twitter.com/jfafTl7QBK

  — CNBC-TV18 (@CNBCTV18Live) November 15, 2023

• Siemensis rising as its parent company, Siemens AG, plans to acquire an 18% stake in the company from Siemens Energy for 2.1 billion euros (approximately Rs 18,976 crore). Post the acquisition, Siemens AG will hold a 66% stake, while Siemens Energy will retain a 6% stake in the company.

• KRChoksey downgrades its rating on Dr. Reddy’s Laboratories to ‘Add’ from ‘Buy’ and lowers the target price to Rs 5,826 from Rs 6,555. This implies an upside of 7.3%. The brokerage cites expected lower margins and weakness in the India business as reasons for the revision. It forecasts the company’s net profit to grow at a CAGR of 9.3% over FY23-25.

• Tech stocks like MphasiS, Coforge, Tech Mahindra and LTIMindtree rise more than 2% in trade. All constituents of the broader Nifty IT index are also trading in the green.

• Narayana Hrudayalaya rises to an all-time high of Rs 1,182 as its Q2FY24 net profit surges by 34.2% YoY to Rs 226.6 crore. Its revenue grows by 12.9% YoY, aided by higher average revenue per patient. The company appears in a screener of stocks with high TTM EPS growth.

• The MSCI Global Standard Index adds IndusInd Bank, Suzlon Energy, One97 Communications (Paytm) and Persistent Systems, among others, in its November review. The index has not excluded any Indian stocks during the rejig.

  IndusInd Bank, One 97 Communications, Tata Motors DVR and Suzlon Energy shares are among nine stocks that have been included in the MSCI Global Standard Index.https://t.co/lHkITqQpCQ

  — Mint (@livemint) November 15, 2023

• ASK Automotive’s shares debut on the bourses at a 7.5% premium to the issue price of Rs 282. The Rs 833.9 crore IPO has received bids for 51.1 times the total shares on offer.

• Rajesh Exports is falling as its Q2FY24 net profit drops 87.9% YoY to 45.3 crore, while its revenue plummets by 52.6% YoY to Rs 38,079.4 crore. The stock shows up in a screener for companies with net profit declining sequentially over the past two quarters.

• Asian Paints is rising as it upgrades its original installed production capacity of the Khandala plant to 4 lakh KL per annum from 3 lakh KL. The company has invested Rs 385 crore for this expansion through internal accruals.

• Realty stocks like Phoenix Mills, Oberoi Realty, Indiabulls Real Estate and Prestige Estates Projects surge more than 3% in trade today. All constituents of the broader BSE Realty index are also trading in the green.

• India’s WPI inflation contracts to -0.5% in October, continuing its negative trend for the seventh consecutive month. This is due to a fall in the prices of chemical & chemical products, paper & paper products, basic metals, food products, and textiles.

  WPI #inflation at -0.52% for the seventh consecutive month in October, @ShivaRajora7 reports.#WPI#India#inflation#economyhttps://t.co/wcSnyL6GMQ

  — Business Standard (@bsindia) November 14, 2023

• Grasim Industries rises as its Q2FY24 net profit grows by 15.3% YoY to Rs 1,163.8 crore. Its revenue increases by 10% YoY, aided by the cement and financial services segments. The company appears in a screener of stocks nearing their 52-week highs with significant volumes.

• Rail Vikas Nigam is rising as it bags an order worth Rs 311.2 crore from the Central Railway to construct four tunnels and 28 bridges in Madhya Pradesh.

• Mohnish Pabrai sells a 0.5% stake in Nuvama Wealth Managementfor approx Rs 50.2 crore in a bulk deal on Monday.

• Manappuram Financesurges over 9% as its Q2FY24 net profit grows by 20.4% YoY to Rs 419.9 crore. Revenue rises 16.5%, aided by the gold loan and microfinance segments. It appears in a screenerof stocks with broker upgrades in target price or recommendations over the past three months.

Riding High:

Largecap and midcap gainers today include Solar Industries India Ltd. (6,559.25, 5.81%), Oberoi Realty Ltd. (1,302.70, 5.62%) and Eicher Motors Ltd. (3,848.30, 5.57%).

Downers:

Largecap and midcap losers today include NMDC Ltd. (169.80, -3.11%), Honeywell Automation India Ltd. (35,901.65, -2.99%) and Supreme Industries Ltd. (4,151.85, -2.80%).

Movers and Shakers

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

Top high volume gainers on BSE included Network18 Media & Investments Ltd. (83.60, 10.00%), Star Cement Ltd. (171.15, 9.89%) and Motilal Oswal Financial Services Ltd. (1,223.85, 8.25%).

Top high volume losers on BSE were Rajesh Exports Ltd. (403.40, -8.05%), La Opala RG Ltd. (414.65, -7.32%) and Natco Pharma Ltd. (758.65, -4.48%).

Phoenix Mills Ltd. (2,228.05, 5.58%) was trading at 8.4 times of weekly average. Narayana Hrudayalaya Ltd. (1,133.45, 4.50%) and Manappuram Finance Ltd. (150.50, 7.23%) were trading with volumes 7.3 and 7.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

54 stocks made 52 week highs, while 1 stock tanked below their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,949.30, 4.30%), Bajaj Auto Ltd. (5,536.70, 2.06%) and Balkrishna Industries Ltd. (2,630.05, 2.20%).

Stock making new 52 weeks lows included - Rajesh Exports Ltd. (403.40, -8.05%).

10 stocks climbed above their 200 day SMA including Tech Mahindra Ltd. (1,173.75, 3.75%) and HFCL Ltd. (68.35, 3.72%). 3 stocks slipped below their 200 SMA including Zydus Wellness Ltd. (1,506.50, -1.15%) and Avanti Feeds Ltd. (391.95, -0.47%).