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Nifty 50 closed at 20,267.90 (134.8, 0.7%) , BSE Sensex closed at 67,481.19 (492.8, 0.7%) while the broader Nifty 500 closed at 18,115.35 (127.4, 0.7%), of the 1992 stocks traded today, 1044 were gainers and 901 were losers.

Nifty 50 closed at an all-time high of 20,268 points after extending gains from the afternoon session. The broader indices reacted to Q2 GDP growth numbers released earlier today. India's GDP grew by 7.2% in Q2, against estimates of 6.8% growth. India's volatility index, Nifty VIX, dropped by 2.4% and closed at 12.7 points. Bajaj Auto’s total wholesales grew by 31% YoY to 4 lakh units in November. This growth is due to a 33% rise in two-wheeler sales and a 21% increase in commercial vehicle sales.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty FMCG and Nifty Realty closed higher than their Thursday’s close. According to Trendlyne's sector dashboard, forest materials was the top-performing sector of the day as it rose 2.9%.

Major European indices traded in the green. US indices futures trade higher indicating a positive start. The data released by Hamburg Commercial Bank indicated that the Eurozone’s manufacturing PMI in November declined to 44.2 against estimates of 43.8.

• Dixon Technologies (India) sees a long buildup in its December 28 future series as its open interest rises 18.4% with a put-call ratio of 0.9.

• TVS Motor Co is rising as its total monthly wholesales in November increase by 31% YoY to 3.6 lakh units, driven by robust domestic demand. Its total two-wheeler sales also improve by 34% YoY, while its domestic two-wheeler sales surge by 50% YoY. The stock shows up in a screener for companies with improving cash flows and high durability scores.

• Nomura raises India’s FY24 GDP growth forecast by 80 bps to 6.7%, following Q2FY24 growth exceeding estimates. Citigroup and Barclays Plc have also raised their estimates.

  #Nomura hikes #India's FY24 #GDP forecast by 80 bps on higher-than-expected Q2 readinghttps://t.co/HVTgIY05Ux

  — Economic Times (@EconomicTimes) December 1, 2023

• JSW Energy appoints Sharad Mahendra as Joint Managing Director and Chief Executive Officer of the company, effective February 1, 2024. In the interim, he will assume the role of Whole-Time Director (Joint Managing Director & Chief Executive Officer - Designate), starting immediately.

• Seamec rises as it signs a memorandum of understanding with Ships & Boats Oil Services to purchase Sea Pearl, a sea vessel, for $7 million (approx Rs 58.3 crore). The company appears in a screener of stocks with improving book value per share.

• Defence stocks like CFF Fluid Control, NIBE, Hindustan Aeronautics and Bharat Dynamics surge more than 3% in trade as the government approves multiple acquisitions worth Rs 2.2 lakh crore. The broader defence industry is also trading 2.8% higher.

• Zydus Lifesciences is rising as it receives final approval from the US FDA for its Ivabradine tablets,used for the treatment of heart failure. It has a market size of $136.5 million for the year ending October 2023, according to IQVIA.

• BofA Securities upgrades its rating on Hero MotoCorp to ‘Buy’ from ‘Underperform’ and raises the target price to Rs 4,350. The brokerage notes the recovery in demand for two-wheelers and the company’s focus on growth under the leadership of the new CEO, Niranjan Gupta.

  #HeroMoto shares get a double upgrade to a 'buy' rating, check the target price@iyer_sriram@HeroMotoCorp#BofAhttps://t.co/dpqinAcbuf

  — CNBC-TV18 (@CNBCTV18Live) December 1, 2023

• Motilal Oswal maintains its ‘Buy’ rating on State Bank of Indiawith a target price of Rs 700, implying an upside of 22.4%. The brokerage expects the bank’s loan growth momentum to continue and asset quality to remain robust. It estimates a CAGR of 15.5% in net profit over FY23-26.

• PSU Banks like Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank and Indian Bankare rising in trade. All the constituents of the broader sectoral index, Nifty PSU Bank, are trading in the green.

• Foreign institutional investors invest Rs 8,622.6 crore in the equity market over the past week, according to Trendlyne's FII dashboard. Index options witness the highest outflow of Rs 15,467.5 crore from foreign investors. Meanwhile, mutual funds invest Rs 486 crore in the equity market over the same period.

• NTPCsurges following reports that India's Ministry of Mines is seeking access to additional lithium reserves and mines in Australia, collaborating with Coal India, NTPC, and other entities. Additionally, K Shanmugha Sundaram has been appointed as Executive Director of the company, effective from today.

• India’s manufacturing PMI rises to 56 in November, compared to 55.5 in October, due to growth in new orders and output. The PMI reading remains above 50 for the 29th consecutive month.

  India’s November manufacturing PMI rises to 56.0 from 55.5 in October#India#manufacturing#PMI#economyhttps://t.co/P8aFy761rz

  — Business Today (@business_today) December 1, 2023

• Bharti Airtel trades flat as Bharti Telecom acquires a 1.4% stake in the company for Rs 8,301.7 crore through a block deal. The company appears in a screener of stocks with zero promoter pledges.

• Power Finance Corp surges over 8% to touch its all-time high of Rs 368.3, as its subsidiary, PFC Consulting, is nominated as the bid process coordinator (BPC). The BPC will select a developer through tariff-based competitive bidding for Independent Transmission Projects (ITPs) by the Ministry of Power.

• Media stocks like TV18 Broadcast, Network18 Media & Investment, Zee Entertainment Enterprises and PVR Inox rise more than 2% in trade. The broader Nifty Media also trades 2.8% higher.

• Centre slashes the windfall tax on locally produced crude oil to Rs 5,000 per tonne from Rs 6,300 earlier, say reports. It also lowers the tax on aviation turbine fuel (ATF) to Rs 1.06 lakh per kilo litre (kL) from the earlier Rs 1.11 lakh/kL.

  The govt has lowered the windfall tax on crude petroleum by Rs 1,300 to Rs 5,000 per tonne.#windfalltax#crude#ATF#petroleumhttps://t.co/x0wznciv1X

  — Business Standard (@bsindia) December 1, 2023

• Bajaj Auto is falling despite a 31% YoY increase in total wholesales to 4 lakh units in November. This growth is due to a 33% rise in two-wheeler sales and a 21% increase in commercial vehicle sales, helped by a surge in domestic demand.

• Flair Writing Industries’ shares debut on the bourses at a 64.8% premium to the issue price of Rs 304. The Rs 593 crore IPO has received bids for 46.7 times the total shares on offer.

• Larsen & Toubro is rising as it incorporates a new wholly owned subsidiary, L&T Semiconductor Technologies, focusing on fabless semiconductor chip design and product ownership. The stock shows up in a screener for companies with high TTM EPS growth.

• India's GDP growth stands at 7.6% in Q2FY24, surpassing the RBI's estimate of 6.5%, driven by robust growth in the manufacturing and construction sectors.

  India’s Q2 GDP growth beats estimates at 7.6%
  
  (Reports @Roshanjnu)https://t.co/qw6PtVsXompic.twitter.com/y1McAitzes

  — Hindustan Times (@htTweets) December 1, 2023

• ITD Cementation rises to an all-time high of Rs 304.8 as it bags an order worth Rs 1,001 crore for civil and hydro-mechanical works of a 500 MW hydel power plant in Andhra Pradesh. The company appears in a screener of stocks with growing net profit and margins.

• Hindustan Aeronautics rises to an all-time high of Rs 2,500 as the Defence Acquisition Council approves the procurement of 156 light combat helicopters and 97 Mk1A aircraft, totalling Rs 1.1 lakh crore. The company appears in a screener of stocks with improving annual net profits for the past two years.

• Profusion Investment Advisors sell a 2.6% stake in Timken India for approx Rs 560.9 crore in a bulk deal on Thursday.

• Kesoram Industries rises to an all-time high of Rs 146.4 as it announces its merger with UltraTech Cement for Rs 5,379 crore. UltraTech will issue one equity share for every 52 shares of Kesoram, resulting in around 59.7 lakh UltraTech Cement shares issued to Kesoram's shareholders. The company appears in a screener of stocks with strong momentum.

Riding High:

Largecap and midcap gainers today include Power Finance Corporation Ltd. (365.15, 9.03%), Dixon Technologies (India) Ltd. (5,951.65, 8.00%) and REC Ltd. (374.00, 7.26%).

Downers:

Largecap and midcap losers today include General Insurance Corporation of India (306.90, -3.96%), Ashok Leyland Ltd. (176.30, -3.74%) and Star Health and Allied Insurance Company Ltd. (560.40, -3.04%).

Volume Rockets

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

Top high volume gainers on BSE included TV18 Broadcast Ltd. (48.00, 11.37%), Amara Raja Energy & Mobility Ltd. (769.20, 8.33%) and Dixon Technologies (India) Ltd. (5,951.65, 8.00%).

Top high volume losers on BSE were Whirlpool of India Ltd. (1,416.00, -9.88%) and Chalet Hotels Ltd. (584.60, -0.87%).

Ceat Ltd. (2,171.90, 3.43%) was trading at 10.8 times of weekly average. Rossari Biotech Ltd. (759.45, 5.14%) and Century Plyboards (India) Ltd. (677.05, 4.99%) were trading with volumes 10.0 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

85 stocks made 52 week highs,

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,963.00, -0.67%), Amara Raja Energy & Mobility Ltd. (769.20, 8.33%) and Apollo Hospitals Enterprise Ltd. (5591.15, 1.12%).

11 stocks climbed above their 200 day SMA including Clean Science & Technology Ltd. (1,444.85, 5.95%) and Rossari Biotech Ltd. (759.45, 5.14%). 2 stocks slipped below their 200 SMA including Whirlpool of India Ltd. (1,416.00, -9.88%) and Adani Total Gas Ltd. (701.45, -1.04%).

Nifty 50 closed at 20,133.15 (36.6, 0.2%), BSE Sensex closed at 66,988.44 (86.5, 0.1%) while the broader Nifty 500 closed at 17,987.95 (83.9, 0.5%), of the 1,990 stocks traded today, 962 were gainers and 987 were losers.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 20,133.2 points. The Indian volatility index, Nifty VIX, dropped marginally and closed at 12.7 points. Metro Brands closed 3.4% higher after it entered into a strategic long-term trademark agreement with the New York-based sports shoe retailer, Foot Locker.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, outperforming the benchmark index. Nifty Pharma and Nifty Realty closed higher than their Wednesday close. According to Trendlyne's sector dashboard, Retailing was the top-performing sector of the day as it rose 2%.

Major European indices traded in the green, except for England’s FTSE 100 index, which traded in the red. Major Asian indices closed flat or higher amid mixed global cues. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures extended their gains from Wednesday and traded in the green for a third consecutive trading session.

• Relative strength index (RSI) indicates that stocks like The New India Assurance, Bajaj Auto, Trent and Bharat Heavy Electricals are in the overbought zone.

• NBCC (India) rises over 8% in trade and touches a new 52-week high today. The company ranks high on Trendlyne’s Checklist, scoring 59.1%. It also features in a screener of stocks with no debt.

• Jammu & Kashmir Bank falls amid reported Enforcement Directorate raids at its Srinagar premises. These raids are linked to a Rs 250 crore money laundering case.

• Delta Corp is rising as it expands into the realty sector through a joint venture with Peninsula Land, committing a capital outlay of Rs 250 crore and holding a majority stake. Peninsula Land also approves the issue of 1.5 crore equity shares and 77.3 lakh compulsorily convertible debentures to Delta Corp, as it will invest Rs 100 crore in the real estate firm.

• Tata Coffee’s board approves the setting up of an additional freeze-dried coffee facility in Vietnam with a capacity of 5,500 metric tonnes. The company will invest Rs 450 crore in this facility, which will be operational in two years.

• V-Mart Retail sees three analyst target price downgrades and one recommendation downgrade in the past month. Vedanta, Gujarat Gas and Axis Bank see two analyst target price downgrades over the same period.

• Healthcare and pharmaceutical companies like Granules India, Alkem Laboratories, Divi’s Laboratories, Lupin and Glenmark Pharmaceuticals are rising in trade. All the constituents of the broader sectoral index, Nifty Healthcare, are trading in the green.

• Dreamfolks Services rises as it partners with Russia's Grey Wall, offering its customers lounge access in Russia. The company appears in a screener of stocks with growing net profit and margins.

• Reliance Industries’ retail arm, Reliance Brands, enters into a partnership with France-based SMCP (the parent company of brands like Maje and Sandro). According to the partnership, Reliance Brands will be the distributor of Sandro and Maje in India.

  SMCP, the parent company of accessible luxury brands Sandro, Maje, Claudie Pierlot and Fursac, has entered the Indian market in partnership with Reliance Industries-owned Reliance Brands Limited (RBL).
  
  (@VaruniKhosla reports)https://t.co/jjeDqSMjm1

  — Mint (@livemint) November 30, 2023

• Aurobindo Pharmais rising as its subsidiary, Eugia Pharma Specialties, receives final approval from the US FDA to manufacture and market budesonide inhalation suspension, a generic equivalent of the reference listed drug (RLD), Pulmicort Respules. It is used for the treatment of asthma and has a market size of $226.4 million for the year ending September 2023, according to IQVIA.

• BoB Capital Markets upgrades its rating on Siemensto ‘Buy’ from ‘Hold’ and raises the target price to Rs 4,400 from Rs 3,900. This implies an upside of 21%. The brokerage believes the company’s diverse segment presence makes it well-placed to benefit from the increase in public spending on infrastructure, pent-up private capex and the rising transition to green energy.

• JSW Infrastructuretrades flat even as its subsidiary, Masad Infra Services, signs a concession agreement with the Government of Karnataka to develop a deep water greenfield port in Keni. The company has also become the guarantor for its unit JSW Terminal UAE's loan of $126 million with Axis Trustee Services.

• Petronet LNG is rising as 68.5 lakh shares (0.5% equity), amounting to Rs 137.5 crore, change hands in a large trade, according to reports.

  #PetronetLNG has 68.5 lakh shares change hands in a large trade.
  
  Read latest #stockmarket updates: https://t.co/mNLYZ2IvDcpic.twitter.com/1cJ9EyAN4l

  — BQ Prime (@bqprime) November 30, 2023

• Thomas Cook plunges almost 5% as its promoter, Fairbridge Capital, plans to sell 3.2 crore shares (a 6.8% stake) of the company through an offer for sale. The board has approved a floor price of Rs 125 per share.

• Karur Vysya Bank rises with RBI's approval for SBI Mutual Fund to acquire an aggregate holding of up to 9.99% in the bank. It appears in a screener of stocks nearing their 52-week high with significant volumes.

• Metro Brands is rising as it enters into a strategic long-term trademark agreement with the New York-based sports shoe retailer, Foot Locker. This agreement grants Metro Brands exclusive rights to own and operate Foot Locker’s retail stores in India. The stock shows up in a screener for companies with book value per share improving over the past two years.

• Rakesh Jhunjhunwala's Rare Enterprises clarifies that it has no connection with the deal in HIM Teknoforge, according to reports. The entity, Rare Enterprise, is not connected to Rare Enterprises or any other group firm of the Jhunjhunwala family.

• Dharmakirti Joshi, Chief Economist at CRISIL, projects India’s GDP growth at 6.7% for Q2FY24, driven by the services sector. He expects the monsoon's impact to be noticeable in Q3 and notes an increase in trade exposure in recent months.

  #OnCNBCTV18 | #GDP growth outlook is at 6.7%, tax collections, and strong #PMI will support GDP growth. Trade exposure has risen over the past few months
  
  DK Joshi, CRISIL to CNBC-TV18 pic.twitter.com/2P0kgwBnWX

  — CNBC-TV18 (@CNBCTV18Live) November 30, 2023

• SBI Life Insurance appoints Amit Jhingran as the Managing Director and Chief Executive Officer of the company.

• Fedbank Financial Services’ shares debut on the bourses at a 1.4% discount to the issue price of Rs 140. The Rs 1,092.3 crore IPO has received bids for 2.2 times the total shares on offer.

• Gandhar Oil Refinery’s shares debut on the bourses at a 76.3% premium to the issue price of Rs 500. The Rs 500.7 crore IPO has received bids for 64.1 times the total shares on offer.

• Eicher Motors is rising as Jefferies reiterates its ‘Buy’ rating, with an upgraded target price of Rs 4,650. The brokerage believes that Royal Enfield will see minimal impact from recent launches by competitors. It also highlights the potential for re-rating as confidence in sustaining long-term market share grows.

  #MarketsWithMC | Jefferies India has reiterated a buy rating on Eicher Motors Ltd and raised the target price by 22% to Rs 4,650 from Rs 3,805 per share.
  
  Details ????https://t.co/VB70VlO9Ux#JefferiesIndia#EicherMotors#Markets

  — Moneycontrol (@moneycontrolcom) November 30, 2023

• Tata Technologies’ shares debut on the bourses at a 140% premium to the issue price of Rs 500. The Rs 3,042.5 crore IPO has received bids for 69.4 times the total shares on offer.

• Jupiter Wagons' board of directors approves the qualified institutional placement (QIP) of equity shares worth Rs 700 crore. The board has set a floor price of Rs 331.3 per share.

• Ultratech Cement nears its 52-week high as it acquires 0.5 MTPA cement grinding assets from Burnpur Cement for Rs 169.8 crore. This acquisition takes the company's total capacity to 133 MTPA.

• PCBL rises to an all-time high of Rs 271.4 as it forms a joint venture with Kinaltek, with ownership stakes of 51% and 49% respectively. PCBL will initially invest $16 million (approx. Rs 133.3 crore) and plans further commitments totalling $28 million (approx. Rs 233.2 crore) in multiple tranches. This JV is aimed at expanding into the battery application market.

Riding High:

Largecap and midcap gainers today include Supreme Industries Ltd. (4,431.15, 7.52%), General Insurance Corporation of India (319.55, 4.96%) and GAIL (India) Ltd. (131.90, 4.77%).

Downers:

Largecap and midcap losers today include Indian Bank (396.90, -5.23%), Solar Industries India Ltd. (6,288.90, -3.79%) and Adani Total Gas Ltd. (708.80, -3.24%).

Volume Shockers

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

Top high volume gainers on BSE included NBCC (India) Ltd. (76.10, 8.71%), India Cements Ltd. (251.35, 7.85%) and Great Eastern Shipping Company Ltd. (875.55, 7.76%).

Top high volume losers on BSE were Aether Industries Ltd. (779.75, -5.99%), Indian Bank (396.90, -5.23%) and Solar Industries India Ltd. (6,288.90, -3.79%).

Alembic Pharmaceuticals Ltd. (745.80, 3.67%) was trading at 48.0 times of weekly average. APL Apollo Tubes Ltd. (1,687.65, 2.21%) and Metro Brands Ltd. (1,370.05, 3.17%) were trading with volumes 21.8 and 16.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,976.15, 1.39%), Amara Raja Energy & Mobility Ltd. (710.05, 2.17%) and Axis Bank Ltd. (1,074.25, 1.33%).

Stock making new 52 weeks lows included - Aether Industries Ltd. (779.75, -5.99%).

6 stocks climbed above their 200 day SMA including Aegis Logistics Ltd. (371.95, 6.62%) and Archean Chemical Industries Ltd. (584.90, 3.77%). 5 stocks slipped below their 200 SMA including Sterlite Technologies Ltd. (146.20, -3.85%) and Adani Total Gas Ltd. (708.80, -3.24%).

Nifty 50 closed at 20,096.60 (206.9, 1.0%) , BSE Sensex closed at 66,901.91 (727.7, 1.1%) while the broader Nifty 500 closed at 17,904.10 (162.3, 0.9%), of the 1,989 stocks traded today, 929 were in the positive territory and 1,021 were negative.

Indian indices extended the gains from the afternoon session and closed in the green, with the Nifty 50 closing at 20,097. The volatility index, Nifty VIX, rose by 4.4% and closed at 12.7 points. Aurobindo Pharma receives US FDA approval to manufacture and market Darunavir Tablets used to treat human immunodeficiency virus infection. The product has an estimated market size of $275 million.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher following the benchmark index. Nifty Bank and Nifty Auto closed higher than Tuesday’s closing level. According to Trendlyne’s sector dashboard, automobile & auto components emerged as the top-performing sector of the day, with a rise of over 1.3%.

Most European indices trade in the green except for England’s FTSE 100 trading in the red. US indices futures trade higher indicating a positive start. The data released by Spain’s National Institute of Statistics indicated that Spain’s CPI inflation for November expanded by 3.2% YoY against estimates of 3.7% growth.

• Money flow index (MFI) indicates that stocks like Trent, General Insurance Corp, Bajaj Auto and The New India Assurance are in the overbought zone.

• Infosys gains as its arm, EdgeVerve Systems, bags an order from the Philippines' Bank of Commerce for its Infosys Finacle Suite, aimed at transforming the core banking system. This suite will replace the bank's existing systems. The company appears in a screener of stocks with improving RoA.

• Torrent Power surges over 12% in trade and touches a new 52-week high today. The company ranks high on Trendlyne’s Checklist, scoring 78.3%. It also features in a screener of companies with zero promoter pledges.

• Realty, utilities and general industrial sectors rise by more than 10% over the past month.

• Bandhan Bank, Zensar Technologies, Suzlon Energy, and IDFC witness a decrease in mutual fund holdings in the past month.

• Bharat Petroleum Corp gains as it declares an interim dividend of Rs 21 per equity share for FY24. The board fixes December 12, 2023, as record date.

• Capacit'e Infraprojects wins an order worth Rs 101 crore from Tridhaatu Aranya Developers for the Aranya Phase-II project.

• Antique Stock Broking initiates coverage on Yatra Online with a ‘Buy’ rating and target price of Rs 168. The brokerage believes that the company will benefit from the recovery in corporate travel. It also anticipates an improvement in gross bookings.

  #StockMarket | Antique Stock Broking initiates coverage on #YatraOnline with a BUY rating, predicts profit growth for all three (Yatra, MakeMyTrip, and Easy Trip Planners) online travel agents in India.https://t.co/4enUddmgsq

  — Mint (@livemint) November 29, 2023

• HDFC Securities initiates coverage on Kaynes Technology India with a ‘Buy’ rating and a target price of Rs 2,850. This implies an upside of 16.6%. The brokerage cites the company's superior execution skills and focus on value addition as key factors for capitalising on rising domestic electronics demand and the Centre's import substitution initiative. It expects the firm’s revenue to grow at a CAGR of 42% over FY23-26.

• IT stocks like Wipro, Persistent Systems, MphasiSand LTIMindtreeare rising in trade. All constituents of the broader Nifty ITindex are also trading in the green.

• Aether Industriesis falling as it notifies the exchanges of a fire incident that took place at its manufacturing plant in Surat, Gujarat. The company states that 25 people were injured in the incident, while no casualties were reported.

• Bharat Heavy Electricals rises as it signs a memorandum of cooperation (MoC) with Electricite de France, a state-owned French company. This MoC will maximise local content in the Jaitapur nuclear power project, set to be established by NPCIL in India. Additionally, the company bags an order worth Rs 2,956 crore from the Ministry of Defence for 16 super rapid gun mount.

• The total market capitalisation of all BSE-listed companies reaches $4 trillion ( approximately Rs 333 lakh crore), driven by positive sentiments in the Indian equity market.

  M-cap of BSE listed companies hits $4 trillion mark for first time ever@prashuntalukdarhttps://t.co/WhTq0saMQJ

  — Business Today (@business_today) November 29, 2023

• Aurobindo Pharma receives US FDA approval to manufacture and market Darunavir Tablets indicated, used to treat human immunodeficiency virus infection. The product has an estimated market size of $274.8 million.

• Tata Power is rising as its subsidiary, Tata Power Renewable Energy, receives a letter of award (LoA) to develop a 200 MW firm and dispatchable renewable energy (FDRE) project with SJVN. The project, expected to be completed within 24 months, will take the company's total renewable energy capacity to 8,314 MW.

• RR Kabel falls amid reports of income tax department searches at its offices nationwide. The company appears in a screener of stocks with declining net profit and margins.

• Reports suggest that 38.9 lakh shares (0.3% equity) of ICICI Prudential Life Insurance Co, amounting to Rs 214.9 crore, have changed hands in a large trade.

  #ICICIPrudential has 38.9 lakh shares change hands in a large trade.
  
  Read latest #stockmarket updates: https://t.co/47ts5s9Y2apic.twitter.com/ScS4OIAZpa

  — BQ Prime (@bqprime) November 29, 2023

• Auto stocks like Samvardhana Motherson International, Hero Motocorp, Mahindra & Mahindra and Bosch are rising in trade. All constituents of the broader Nifty Auto index are also trading in the green, helping it to touch its all-time high of 17,377.4.

• Siemens is falling as its Q2FY24 net profit declines 12.4% YoY to Rs 571.3 crore due to higher raw material, inventory and project buyout costs. However, its revenue rises 24.7% YoY, led by healthy growth in the energy, smart infrastructure and mobility segments. The company has also announced an investment of Rs 416 crore to expand capacity in power transformers and vacuum interrupters.

• Shares of Indian Renewable Energy Development (IREDA) debut on the bourses at a 56.2% premium to the issue price of Rs 32. The Rs 2,150.2 crore IPO has received bids for 38.8 times the total shares on offer.

• Rajeev Samant, the Chief Executive Officer (CEO) of Sula Vineyards, reports minimal impact from unseasonal rains on wine grapes and expects a big harvest this year. He adds that table grapes have been affected by the rainfall. Samant also highlights that Q3 is a strong quarter seasonally.

  #OnCNBCTV18 | Saw a very small impact due to unseasonal rains, expect a bumper harvest this year. Q3 is a seasonally strong qtr & is looking good so far: Rajeev Samant, Sula Vineyards to CNBC-TV18 pic.twitter.com/46o6CcXnrt

  — CNBC-TV18 (@CNBCTV18Live) November 29, 2023

• Havells India launches its brand Lloyd in the Middle East market. It has partnered with TeknoDome, a distribution company in Dubai, for the desired coverage and reach.

• Aster DM Healthcare rises to an all-time high of Rs 381.8, as its promoter-owned Alpha GCC is set to buy the current owner's (Moopen family) stake in Aster DM Healthcare FZC for $1 billion (approx. Rs 8,330.1 crore). Post the deal, Alpha GCC Holdings will be jointly owned by Aster India and Fajr Capital advisors in a 35:65 ratio.

• Zomato is rising as reports suggest that Alipay Singapore, an arm of Alibaba Group, plans to sell its entire 3.4% stake (29.6 crore shares) for Rs 3,300 crore through block deals.

• PCBL’s board approves the acquisition of a 100% stake in Aquapharm Chemicals, a specialty chemicals company, for Rs 3,800 crore. It believes this acquisition will help its entry into the global specialty chemical segments of water treatment chemicals and oil & gas chemicals. The stock shows up in a screener for companies with low debt.

Riding High:

Largecap and midcap gainers today include Adani Total Gas Ltd. (732.55, 13.71%), Torrent Power Ltd. (941.40, 11.53%) and Muthoot Finance Ltd. (1,415.85, 5.44%).

Downers:

Largecap and midcap losers today include Adani Power Ltd. (433.10, -2.94%), One97 Communications Ltd. (867.35, -2.40%) and Zee Entertainment Enterprises Ltd. (249.70, -2.38%).

Volume Rockets

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

Top high volume gainers on BSE included Aster DM Healthcare Ltd. (395.45, 18.88%), Adani Total Gas Ltd. (732.55, 13.71%) and Torrent Power Ltd. (941.40, 11.53%).

Top high volume losers on BSE were Aether Industries Ltd. (829.40, -8.41%), Linde India Ltd. (5,703.75, -2.71%) and Zee Entertainment Enterprises Ltd. (249.70, -2.38%).

Borosil Renewables Ltd. (441.05, 6.68%) was trading at 24.1 times of weekly average. Minda Corporation Ltd. (373.15, 10.99%) and Graphite India Ltd. (502.15, 5.83%) were trading with volumes 13.9 and 12.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

55 stocks hit their 52 week highs,

Stocks touching their year highs included - Adani Power Ltd. (433.10, -2.94%), Axis Bank Ltd. (1,060.15, 3.82%) and Bajaj Auto Ltd. (6,069.95, 1.20%).

9 stocks climbed above their 200 day SMA including Adani Total Gas Ltd. (732.55, 13.71%) and ICICI Bank Ltd. (939.60, 1.52%). 4 stocks slipped below their 200 SMA including Sterlite Technologies Ltd. (152.05, -3.31%) and Devyani International Ltd. (177.75, -0.86%).

Nifty 50closed at 19,889.70 (95, 0.5%), BSE Sensexclosed at 66,174.20 (204.2, 0.3%) while the broader Nifty 500closed at 17,741.80 (98.3, 0.6%). Market breadth is balanced. Of the 2,019 stocks traded today, 948 showed gains, and 1,033 showed losses.

Indian indices recovered from their day lows and closed in the green, with the Nifty 50closing at 19,870.7 points. The Indian volatility Index, Nifty VIX, rose sharply by 7.3% and closed at 12.2 points. Retail sales for the automotive industry jumped 19% YoY to 37.9 lakh units during the festive period, showed data from the Federation of Automotive Dealers' Association.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher, following the benchmark index. Nifty Metal and Nifty Energy closed sharply higher than their Friday close. According to Trendlyne's sector dashboard, Commercial Services & Supplies was the top-performing sector of the day as it rose 5.1%.

Major Asian indices closed flat or higher, except for Hong Kong’s Hang Seng index closing lower. European stocks traded in the red amid mixed global cues. US index futures traded marginally lower, indicating a cautious start to the trading session. Brent crude oil futures traded in the green after closing lower for a fourth consecutive trading session on Monday.

• Relative strength index (RSI) indicates that stocks like The New India Assurance, General Insurance Corp of India, Trent and Alkem Laboratories are in the overbought zone.

• Jubilant Foodworks trades flat as its subsidiary, Jubilant Foodworks Netherlands, plans to acquire the remaining 51.2% stake in Domino's Pizza Eurasia for €73 million (approx. Rs 666.2 crore). This will be funded by a new term loan facility from HSBC bank. The company appears in a screener of stocks with low debt.

• Aster DM Healthcare is falling as reports suggest that the company will soon announce the sale of its Gulf Cooperation Council (GCC) business, which is valued at an estimated $1 billion.

• Tata Power Company rises as it plans to invest a capex of Rs 60,000 crore by FY27. Around 45% of this will be used for expansion in the renewable energy segment. The company appears in a screener of stocks with improving RoA.

• Maruti Suzuki announces plans to increase the prices of its automotive products starting January 1, citing higher commodity prices and inflationary pressures.

  #MarutiSuzuki India to raise prices beginning 1 January, setting the stage for similar hikes by rival automakers. The company attributed the move to higher commodity costs and steep inflation.
  
  (@Alisha2494 reports)https://t.co/hXHh5YTVwO

  — Mint (@livemint) November 28, 2023

• Kaynes Technology India, Kalyan Jewellers India, and Power Finance Corp’s stock prices increase 237.4%, 231.9% and 206.5% respectively over the past year.

• Vascon Engineers rises as its board is set to consider a fundraising initiative in its meeting on November 30. The plan includes issuing equity shares through various modes. The company appears in a screener of stocks with strong annual EPS growth.

• United Breweries is rising as it announces its entry into the Indian draught beer market with the launch of Heineken Silver Draught Beer. The product will initially be launched in Mumbai, Thane and Pune. The stock shows up in a screener for companies with book value per share improving over the past two years.

• HSBC upgrades its rating on Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp to ‘Buy’ from ‘Hold’ and raises their target prices. The brokerage believes that the strong balance sheets of the companies and the potential for reduced crude prices could improve their short-term profitability.

  India's oil refiners #HPCL, #BPCL, Indian Oil hit a 52-week high after #HSBC projects better earningshttps://t.co/kolkFKrypE

  — CNBC-TV18 (@CNBCTV18Live) November 28, 2023

• Cello World rises as its Q2FY24 net profit increases by 3.3% to Rs 80 crore due to lower inventory expenses. Its revenue grows by 3.6% YoY, helped by the writing instruments and consumer ware segments. The company appears in a screener of stocks nearing 52-week high with significant volumes.

• KRChoksey initiates coverage on Laurus Labswith an ‘Add’ rating and a target price of Rs 404, implying an upside of 8.8%. The brokerage expects growth driven by new launches, market share gains in the finished dosage forms (FDFs) segment, and increasing opportunities in the biologic and contract development and manufacturing organisation divisions. It expects the firm’s revenue to grow at a CAGR of 11.6% over FY23-26.

• PSU banks like Punjab National Bank, Bank of India, Bank of Baroda, Union Bank of Indiaand Punjab & Sind Bankare rising in trade. Barring Indian Bank, all the other constituents of the broader sectoral index, Nifty PSU Bank, are also trading in the green.

• DB Realty rises as its promoter group sells a 2.9% stake (1.5 crore shares), raising Rs 301 crore. This fund has been infused into the company to fulfil its related party transactions and clear unsecured interest-free loans. This move makes the company debt-free as of November 30. It appears in a screener of stocks with decreasing promoter pledges.

• Retail sales for the automotive industry jumps 19% YoY to 37.9 lakh units during the festive period, shows data from the Federation of Automotive Dealers' Association. Two-wheeler retail sales increase 21% YoY, and passenger vehicles sales are up 10% YoY.

  Auto sales reached new milestone in 42-day festive period; 37.93 lakh vehicles sold: FADA #autosales#carsales#FADAhttps://t.co/q5WZaeCP7n

  — Business Today (@business_today) November 28, 2023

• One97 Communications is falling as Berkshire Hathaway sells its entire 2.5% stake in the company for Rs 1,371 crore. The sale has been made through an open market transaction, with Ghisallo Master Fund and Copthall Mauritius Investment acquiring the shares.

• BSE is rising as Jefferies reportedly initiates coverage on the stock with a ‘Buy’ rating and a target price of Rs 2,700. The brokerage believes that the company will benefit from India’s healthy GDP growth, financialisation of savings, and rising equity market participation. It expects the company’s revenue to grow at a CAGR of 45% over FY23-26.

• Oil & gas stocks like Adani Total Gas, Hindustan Petroleum Corp, Indian Oil Corp and Bharat Petroleum Corp rise more than 2% in trade. The broader BSE Oil & Gasindex is also trading more than 2% up.

• Macrotech Developers rises to its all-time high of Rs 917 per share as its Managing Director and Chief Executive Officer (CEO), Abhishek Lodha, reports a reduction in the company's debt by Rs 540 crore in Q2FY24 to Rs 6,730 crore. He also expects the net debt to fall below Rs 6,000 crore by the end of FY24.

  #Realty firm #MacrotechDevelopers aims to bring down its net debt to below Rs 6,000 crore by March next year from Rs 6,730 crore at the end of September quarter with the help of better cash flow
  https://t.co/0UU7uCxzQB

  — Economic Times (@EconomicTimes) November 27, 2023

• KPI Green Energy is rising as its subsidiary, Sun Drops Energia, bags orders to establish solar power projects with a total capacity of 4.7 MW under its captive power producer (CPP) segment.

• Welspun Corp appoints Gerald Mosley as the Chief Executive Officer of its arm, Welspun Tubular LLC, with effect from November 27, 2023.

• Utilities stocks like Adani Energy Solutions, Adani Power, Adani Green Energy and Torrent Power surge more than 5% in trade. The broader BSE Utilities index is also trading more than 2% up.

• S&P Global Ratings raises India’s FY24 GDP growth forecast to 6.5%, citing strong domestic momentum. However, it has lowered its FY25 estimate to 6.4% from the earlier 6.9%, anticipating a slowdown due to muted global growth and the delayed impacts of interest rate hikes.

  S&P raises India's growth forecast for #FY24 to 6.4%, cuts FY25 projection.@ShivaRajora7 reports #India#GlobalEconomy#GDPhttps://t.co/oN9y3lhuhJ

  — Business Standard (@bsindia) November 27, 2023

• Shivalik Bimetal Controls is rising as it signs a memorandum of Understanding (MoU) with a Swiss company, Metalor Technologies International SA. The MoU is for setting up a joint venture to manufacture and sell electrical contacts.c

• Fortis Healthcare is rising as its subsidiaries enter an agreement to sell Fortis Malar Hospital to MGM Healthcare for Rs 128 crore. Under the agreement, Fortis will divest its business operations along with land and building assets.

• Netweb Technologies Indiarises sharply as it announces partnership with Nvidia, the company will be a manufacturing partner for Nvidia's Grace CPU chip and GH200 server design. Netweb will be producing ten servers variations under its Tyrone range. The company appears in a screener of stocks with improving cash flow from operations.

• IRB Infrastructure Developersis rising as its special purpose vehicle (SPV), IRB Lalitpur Tollway, signs a concession agreement worth Rs 4,428 crore with the National Highways Authority of India (NHAI). The concession is for tolling, operation, and maintenance of the NH44 for the next 20 years.

Riding High:

Largecap and midcap gainers today include Adani Total Gas Ltd. (644.20, 19.97%), Adani Energy Solutions Ltd. (865.10, 18.65%) and Adani Power Ltd. (446.20, 12.34%).

Downers:

Largecap and midcap losers today include JSW Energy Ltd. (409.45, -2.73%), Macrotech Developers Ltd. (869.50, -2.46%) and Tata Communications Ltd. (1,683.50, -2.34%).

Volume Shockers

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

Top high volume gainers on BSE included Adani Total Gas Ltd. (644.20, 19.97%), Adani Energy Solutions Ltd. (865.10, 18.65%) and Adani Power Ltd. (446.20, 12.34%).

Top high volume losers on BSE were Raymond Ltd. (1,579.75, -4.17%) and Thermax Ltd. (2,574.55, -1.96%).

Adani Green Energy Ltd. (1,052.80, 12.25%) was trading at 26.0 times of weekly average. HLE Glascoat Ltd. (545.75, 5.68%) and Adani Enterprises Ltd. (2,423.50, 8.90%) were trading with volumes 12.1 and 8.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

45 stocks hit their 52 week highs,

Stocks touching their year highs included - Adani Power Ltd. (446.20, 12.34%), Bajaj Auto Ltd. (5,998.15, 1.14%) and Bharat Heavy Electricals Ltd. (156.05, 2.50%).

9 stocks climbed above their 200 day SMA including Adani Energy Solutions Ltd. (865.10, 18.65%) and Adani Enterprises Ltd. (2,423.50, 8.90%). 5 stocks slipped below their 200 SMA including Raymond Ltd. (1,579.75, -4.17%) and Devyani International Ltd. (179.30, -1.59%).

Nifty 50 closed at 19,794.70 (-7.3, 0.0%) , BSE Sensex closed at 65,970.04 (-47.8, -0.1%) while the broader Nifty 500 closed at 17,643.50 (4.1, 0.0%), of the 1,974 stocks traded today, 893 were in the positive territory and 1,040 were negative.

Indian indices recovered from the day’s low and closed flat, with the Nifty 50 closing at 19,795. The volatility index, Nifty VIX, rose by 0.1% and closed at 11.3 points. Tata Technologies and Flair Writing Industries' IPO gets bids for 35X and 21.9X on the third day of bidding.

Nifty Smallcap 100 closed higher, while the Nifty Midcap 100 closed flat following the benchmark index. Nifty Pharma and Nifty Healthcare closed higher than Thursday’s closing level. According to Trendlyne’s sector dashboard, commercial services & supplies emerged as the top-performing sector of the day, with a rise of over 1.8%.

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 Hamburg Commercial Bank indicated that Germany’s manufacturing PMI in November declined to 42.3 against estimates of 41.2.

• Berger Paints (India) sees a short buildup in its November 30 future series as its open interest rises 12.5% with a put-call ratio of 0.4.

• KRChoksey maintains its 'Accumulate' rating on Sonata Software with an upgraded target price of Rs 1,403 per share. This indicates a potential upside of 8.3%. The company's partnerships with Google, SAP, AWS, and Microsoft, among others, will bring more orders. It expects the IT company's net profit to grow at a CAGR of 21.9% over FY23-25.

• IndusInd Bank partners with Indraprastha Gas (IGL) to facilitate the acceptance of digital rupee, India's central bank digital currency (CBDC). This collaboration aims to allow customers at select IGL stations in Delhi NCR to make payments using the digital rupee. It appears in a screener for stocks with strong momentum.

• Maruti Suzuki India's board of directors approves the issue and allotment of 1.23 crore shares, amounting to Rs 12,841.1 crore, on a preferential basis to Suzuki Motor Corp. This will facilitate the acquisition of a 100% stake in Suzuki Motor Gujarat.

  #marutisuzuki board permits preferential share issue to Suzuki Motor Corporationhttps://t.co/mSd3nE2ZLu

  — Business Today (@business_today) November 24, 2023

• Gandhar Oil Refinery's Rs 500.7 crore IPO gets bids for 64.1X the available 2.1 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 28.9X the available 1.1 crore shares on offer.

• Ganesha Ecosphere rises more than 4% as its board approves raising Rs 350 crore through qualified institution placements. The company appears in a screener of stocks with improving RoE.

• Flair Writing Industries' Rs 593 crore IPO gets bids for 46.7X the available 1.4 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 13X the available 72.1 lakh shares on offer.

• India’s credit card spending rises 25.4% MoM to around Rs 1.8 lakh crore, driven by growth in PoS (point of sale) transactions and e-commerce payments during the festive season.

  Credit card spending in India rises to Rs 1.78 trn in Oct, sets record.
  
  Aathira Varier reports #CreditCard#Indiahttps://t.co/Bc5QBYnrl7

  — Business Standard (@bsindia) November 24, 2023

• Fedbank Financial Services' Rs 1,092.3 crore IPO gets bids for 2.2X the available 5.6 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 1.8X the available 2.8 crore shares on offer.

• Tata Technologies' Rs 3,042.5 crore IPO gets bids for 69.4X the available 4.5 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 16.5X the available 1.8 crore shares on offer.

• GATIrises over 3% as it launches a Surface Transhipment Centre and Distribution Warehouse (STCDW). It is strategically located to reduce transit time and enable businesses to deliver products faster to their customers.

• Telecommunications equipment, pharmaceuticals & biotechnology and textiles apparels & accessories sectors rise by more than 2.3% over the past week.

• Jefferies adds Coal India, Honasa Consumer, Eicher Motors, NTPC, HDFC Bank, and ICICI Prudential Life Insurance Co to its India model portfolio, replacing Power Grid Corporation of India, Marico, Maruti Suzuki, and NBFCs. The brokerage has lowered its weightage on NBFCs as the rate cut cycle is expected to be at least six months away.

  #StockMarket | Jefferies has added Coal India, Honasa Consumer, Eicher Motors, NTPC, HDFC Bank and IPru Life to its India model portfolio deploying cash and at the cost of Power Grid Corporation of India, Marico Industries, Maruti Suzuki & NBFCshttps://t.co/GOq9evrPyZ

  — Mint (@livemint) November 24, 2023

• RateGain Travel Technologies trades flat as Aditya Birla Sun Life Mutual Fund sells a 2.1% stake (20.2 lakh shares) in the company. The deal, conducted in the open market, amounts to Rs 11.8 crore. The company appears in a screener of stocks with strong annual EPS growth.

• Foreign institutional investors withdraw Rs 2,488.7 crore from the equity market over the past week, according to Trendlyne's FII dashboard. Index options also witness the highest outflow of Rs 1.1 lakh crore from foreign investors. meanwhile, mutual funds invest Rs 1,300.3 crore in the equity market over the same period.

• HDFC Securities initiates coverage on Sai Silks with a ‘Buy’ rating and a target price of Rs 385, implying an upside of 32.8%. The brokerage expects the company to benefit from the growing preference for organised saree retailers over unorganised retailers, citing its diverse price range and expansive presence. It projects a CAGR of 40.2% in net profit.

• Morgan Stanley has an ‘Overweight’ rating on Zomato, with a target price of Rs 140. The brokerage notes the growing engagement of mature users and increased online spending, especially in the quick commerce segment. It also expects consistent performance in the food delivery business.

  Brokerage Radar | Morgan Stanley bullish on #Zomato: Overweight, Target Price Rs 140, 21% upside potential. Strong outlook for Quick Commerce and user engagement.@MorganStanley@zomatopic.twitter.com/c5kpJqI9zj

  — ET NOW (@ETNOWlive) November 24, 2023

• JSW Steel rises as it completes the last tranche of its Rs 750 crore investment in JSW paints. This last instalment involves an investment of Rs 75 crore. With this acquisition, JSW Steel holds a 12.8% stake in JSW Paints.

• Healthcare stocks like Dr Lal Pathlabs, Lupin, Syngene International and Metropolis Healthcare are rising in trade. Barring Apollo Hospitals Enterprise, all constituents of the broader Nifty Healthcare index are also trading in the green.

• Prestige Estates Projects launches a new residential project, Prestige Glenbrook, in Bangalore. It has a developable area of 0.7 million square feet and a revenue potential of Rs 550 crore. It appears in a screener for stocks with strong momentum.

• One97 Communications (Paytm) declines over 2% as 1.6 crore shares (2.56% equity), amounting to Rs 1,441 crore, reportedly change hands in a block deal.

  #Paytm Large Trade | 1.6 crore shares (2.56% equity) worth ?1,441 cr change hands at an avg ?884/sh#BlockDeal#LargeTradepic.twitter.com/HpHhEkE3Bj

  — CNBC-TV18 (@CNBCTV18Live) November 24, 2023

• Lupin rises as it receives tentative US FDA approval for its abbreviated new drug application of Canagliflozin Tablets, 100 mg and 300 mg. The drug is used to treat adults with type two diabetes and has an estimated annual sales of $561 million in the USA.

• Smallcap World Fund Inc buys a 2.7% stake in Home First Finance for approx Rs 208.5 crore in a bulk deal on Thursday.

• NMDC is rising as it increases the prices of iron ore and fines by Rs 200 per tonne to Rs 5,400 and Rs 4,460 per tonne, respectively, effective from November 23. The stock shows up in a screener for companies with low debt.

• Apar Industries opens its qualified institutional placement issue to raise Rs 1,000 crore at a floor price of Rs 5,540.3 per equity share. The company shows up in a screener for stocks with zero promoter pledges.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (307.10, 16.46%), Life Insurance Corporation of India (677.65, 9.71%) and Hindustan Aeronautics Ltd. (2,240.30, 4.38%).

Downers:

Largecap and midcap losers today include CG Power and Industrial Solutions Ltd. (429.15, -6.77%), One97 Communications Ltd. (892.55, -3.34%) and Mahindra & Mahindra Financial Services Ltd. (263.90, -3.03%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included The New India Assurance Company Ltd. (209.00, 19.98%), General Insurance Corporation of India (307.10, 16.46%) and Life Insurance Corporation of India (677.65, 9.71%).

Top high volume losers on BSE were One97 Communications Ltd. (892.55, -3.34%), Asahi India Glass Ltd. (566.30, -1.59%) and Equitas Small Finance Bank Ltd. (94.35, -0.79%).

DCM Shriram Ltd. (938.55, 4.11%) was trading at 20.5 times of weekly average. Sun Pharma Advanced Research Company Ltd. (273.05, 6.14%) and Data Patterns (India) Ltd. (1,979.65, 6.87%) were trading with volumes 11.6 and 9.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Bajaj Auto Ltd. (5,930.30, 0.09%), Bharat Heavy Electricals Ltd. (152.25, 6.65%) and Blue Star Ltd. (1,009.90, 3.38%).

Stock making new 52 weeks lows included - Polyplex Corporation Ltd. (1,017.40, -0.07%).

11 stocks climbed above their 200 day SMA including Life Insurance Corporation of India (677.65, 9.71%) and Sterling and Wilson Renewable Energy Ltd. (340.15, 2.92%). 6 stocks slipped below their 200 SMA including VIP Industries Ltd. (614.65, -1.51%) and Marico Ltd. (523.65, -1.37%).

Trendlyne Analysis

Nifty 50 closed at 19,802.00 (-9.9, -0.1%), BSE Sensex closed at 66,017.81 (-5.4, 0.0%) while the broader Nifty 500 closed at 17,639.40 (11.7, 0.1%), of the 1,976 stocks traded today, 1,067 showed gains, and 863 showed losses.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 19,802 points. The volatility index, India VIX, fell 4.6% and closed at 11.3 points. Honasa Consumer rose sharply and closed 20% higher after its Q2FY24 net profit grew by 73.2% YoY to Rs 29.4 crore.

Nifty Smallcap 100 closed in the green and outperformed the benchmark index. Nifty Metal and Realty closed higher than their Wednesday close. According to Trendlyne's sector dashboard, Telecommunications Equipment was the top-performing sector of the day as it rose 1.4%.

Major European indices traded in the green, except for the Swiss Market Index, which traded in the red. Major Asian indices closed flat or higher amid positive global cues. US index futures traded flat, indicating a cautious start to the trading session. Brent crude oil futures traded in the red after falling 1.1% on a volatile day of trade on Wednesday.

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

• Cipla falls by over 7% as the US FDA issues a warning letter to its manufacturing facility in Pithampura. The US FDA has pointed out violations of good manufacturing practices and regulations concerning product quality at this site.

• Equitas Small Finance Bank rises as HDFC Mutual Fund acquires a 2.1% stake (2.3 crore shares) in the company. After the acquisition, the AMC holds 6.2% of the bank.

• Jindal Stainless, JSW Energy, Mphasis and Metro Brands outperform the Nifty 50 index over the past month post their Q2FY24 results.

• Motilal Oswal maintains its ‘Buy’ rating on Coal India and raises its target price to Rs 380 from Rs 290, indicating an upside of 14.1% from the current market price. The brokerage is optimistic about the company's prospects, noting it is on track to meet its FY24 production target of 780 million tonnes, aligned with rising demand. It also adds that the e-auction premium remaining stable at 85-90% augurs well for the firm.

• Gandhar Oil Refinery's Rs 500.7 crore IPO gets bids for 15.3X the available 2.1 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 17.2X the available 1.1 crore shares on offer.

• Flair Writing Industries' Rs 593 crore IPO gets bids for 6.1X the available 1.4 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 7.1X the available 72.1 lakh shares on offer.

• According to CLSA, Reliance Jio Infocomm's initial public offering (IPO) will be a stock-rerating catalyst for Bharti Airtel. The brokerage has a 'Buy' rating on both Bharti Airtel and Reliance Industries. Jio's market leadership and digital expansion vision justify a premium in valuation.

  Reliance Jio IPO to be a stock rerating catalyst for Bharti Airtel, says CLSA@amit_mudgillhttps://t.co/PYYwl3ZTYb

  — Business Today (@business_today) November 23, 2023

• Fedbank Financial Services' Rs 1,092.3 crore IPO gets bids for 0.9X the available 5.6 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 1.3X the available 2.8 crore shares on offer.

• Tata Technologies' Rs 3,042.5 crore IPO gets bids for 14.9X the available 4.5 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 11.2X the available 1.8 crore shares on offer.

• Indian Renewable Energy Development Agency's Rs 2,150.2 crore IPO gets bids for 38.8X the available 47.1 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 7.7X the available 23.5 crore shares on offer.

• Goldman Sachs maintains its ‘Buy’ rating on Adani Ports & Special Economic Zone but increases the target price to Rs 855. The brokerage considers the company’s FY24 volume guidance of 370-390 MT (million tonnes) conservative and believes it could achieve a volume of 405 MT. It also highlights the strong growth in the logistics segment.

  Brokerage Radar | Goldman Sachs increases target price on Adani Ports: See the FY24 volume guidance of 370-390mnt as conservative@GoldmanSachs@AdaniOnline@Adaniports#AdaniPortspic.twitter.com/wwrfJEwlsT

  — ET NOW (@ETNOWlive) November 23, 2023

• Realty companies like Indiabulls Real Estate, Sobha, Oberoi Realty, Prestige Estates Projects and Brigade Enterprises are rising in trade. Barring Godrej Properties, all the other constituents of the broader sectoral index, BSE Realty, are trading in the green.

• Servotech Power Systems is rising as it bags an order for 2,649 EV chargers from Bharat Petroleum Corp. The company will manufacture, supply and install EV chargers across India.

• Strides Pharma Sciencerises as its unit, Strides Pharma Global, gets US FDA approval for a generic drug equivalent to Braintree Labs' Suprep Bowel Prep Kit. The drug has an estimated market share of $143 million in the USA, as per IQVIA. The company appears in a screenerof stocks with strong momentum.

• Jitendra Kumar Agarwal, Joint MD of Genus Power Infrastructures, expects the company to close FY24 with revenues between Rs 1,200-1,300 crore. For FY25, he anticipates a quarterly revenue run rate of Rs 500-700 crore. He also expects the company's margins to remain in the mid-teens, and the order book is projected to exceed Rs 20,000 crore by year-end.

  GENUS POWER
  
  Will end FY24 with 1200-1300 Cr in revenue
  
  Target 500-700 Cr/Qtr Revenue run rate in FY25
  
  Margins seen at mid-teens
  
  Capacity Utilization at 40-45%, will cross 80-90% by year end
  
  Will end the year with >20000 Cr in orderbook https://t.co/sz5mPsOcQ1

  — Mangalam Maloo (@blitzkreigm) November 23, 2023

• KRChoksey downgrades its rating onBalaji Amines to ‘Add’ from ‘Buy’ and cuts its target price to Rs 2,172 from Rs 2,803. This implies an upside of 7.5%. The brokerage believes the company’s revenue and profitability will be severely impacted over the next few quarters due to the slowdown in demand and drop in price realisations.

• Pharmaceutical companies like Cipla, Aurobindo Pharma, Lupin, Ipca Laboratories and Divi’s Laboratories are falling in trade. The broader sectoral index, Nifty Pharma, is also trading in the red.

• Central Depository Services (India) rises as it becomes the first depository to surpass 10 crore Demat accounts. This is due to the post-pandemic increase in equity investors. The company appears in a screener of stocks nearing their 52-week highs with significant volumes.

• According to Bloomberg's data analysis, India is the world's most popular emerging market this year. Despite foreign investors withdrawing funds from many other developing economies, India has attracted billions of dollars in investments this year. Analysts predict more broad-based spending in 2024 and expect a recovery in rural demand from its multiyear slump.

  Foreigners have poured billions of dollars into Indian equities this year, says @andymukherjee70. But small caps have become pricey, and elections are around the corner https://t.co/9xWInKTv3y via @opinion

  — Bloomberg Asia (@BloombergAsia) November 23, 2023

• Power Grid Corporation of India's Committee of Directors approves the Maheshwaram (PG) Substation project in Telangana, estimated at Rs 142.7 crore, and a transmission system development project in Khavda, Gujarat, valued at Rs 224.4 crore. It appears in a screener for stocks with strong momentum.

• TVS Motor rises to its all-time high of Rs 1,784.9 per share as it enters the Vietnamese market with Minh Long Motors as its distribution partner.

• InterGlobe Aviation trades flat as the Commissioner of Income Tax (Appeals) stays the tax demand orders of Rs 739.6 crore and Rs 927 crore for FY17 and FY18, respectively.

• Home First Finance is falling as reports suggest that 86.2 lakh shares (9.8% equity), amounting to Rs 754.4 crore, change hands in a block deal.

  Home First Finance #LargeTrade | 86.2 lakh shares (9.78% equity) worth ?754.4 crore changes hands at ?872/share via block#BlockDeal#HomeFirstFinancepic.twitter.com/nBZQVvepX8

  — CNBC-TV18 (@CNBCTV18Live) November 23, 2023

• Telecom stocks like Tata Teleservices (Maharashtra), GTL Infrastructure, Optiemus Infracom and Sterlite Technologies are rising in trade. All constituents of the broader BSE Telecom index are also trading in the green.

• Ashish Kacholia sells a 1.1% stake in SJS Enterprises for approx Rs 21.8 crore in a bulk deal on Wednesday.

• Welspun Corpis rising as its subsidiary, Sintex BAPL, receives an approval from the government of Odisha to invest Rs 479.5 crore in establishing a pipe manufacturing unit in Sambalpur. The unit, with a production capacity of 37,520 MT per annum, is expected to be operational in the next three years.

• Honasa Consumer rises to an all-time high of Rs 388 as its Q2FY24 net profit grows by 73.2% YoY to Rs 29.4 crore. Its revenue increases by 20.8% YoY driven by volume growth. The company appears in a screener of stocks with growing net profit and margins.

Riding High:

Largecap and midcap gainers today include Hindustan Petroleum Corporation Ltd. (326.70, 6.94%), Aditya Birla Fashion and Retail Ltd. (226.30, 5.26%) and YES Bank Ltd. (20.15, 4.95%).

Downers:

Largecap and midcap losers today include Tube Investments of India Ltd. (3,422.45, -8.25%), Cipla Ltd. (1,170.65, -7.93%) and Persistent Systems Ltd. (6,378.85, -3.26%).

Movers and Shakers

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

Top high volume gainers on BSE included EID Parry (India) Ltd. (532.10, 8.37%), Praj Industries Ltd. (615.90, 6.22%) and Indiabulls Real Estate Ltd. (84.25, 5.97%).

Top high volume losers on BSE were Cipla Ltd. (1,170.65, -7.93%), Mas Financial Services Ltd. (842.45, -6.45%) and Home First Finance Company India Ltd. (877.20, -4.08%).

Quess Corp Ltd. (495.25, 1.04%) was trading at 8.4 times of weekly average. Vedant Fashions Ltd. (1,299.00, -0.18%) and Ingersoll-Rand (India) Ltd. (2,931.50, 0.29%) were trading with volumes 8.4 and 7.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

28 stocks made 52 week highs,

Stocks touching their year highs included - Ajanta Pharma Ltd. (1,951.40, 1.71%), Bajaj Auto Ltd. (5,925.25, 3.02%) and Bharat Petroleum Corporation Ltd. (411.30, 2.29%).

9 stocks climbed above their 200 day SMA including EID Parry (India) Ltd. (532.10, 8.37%) and Aditya Birla Fashion and Retail Ltd. (226.30, 5.26%). 8 stocks slipped below their 200 SMA including VIP Industries Ltd. (624.00, -0.87%) and PNC Infratech Ltd. (323.85, -0.63%).