Trendlyne Analysis

Nifty 50 closed at 17,516.85 (47.1, 0.3%) , BSE Sensex  closed at 58,807.13 (157.5, 0.3%) while the broader Nifty 500 closed at 15,126.60 (53.4, 0.4%)

Market breadth is in the green. Of the 1,812 stocks traded today, 1,108 were in the positive territory and 661 were negative.

• Cholamandalam Financial Holdings, Kansai Nerolac Paints, CreditAccess Grameen, and Gland Pharma are trading with higher volumes as compared to Wednesday.

• Tata Motors will invest Rs 7,500 crore in commercial vehicles (CV) business in next 4-5 years, according to reports. It seeks to develop the business and focus on electric vehicles (EV).

• ICICI Securities upgrades target price by 15.5% to Rs 1,231, maintaining a ‘Buy’ rating for Phoenix Mills as the company’s strong brand recall led to consumption rate rising 116% YoY to Rs 660 crore. The company has multiple projects lined up in H2FY22 with rental income likely to grow at 14% CAGR in FY22-FY25.

• RateGain Travel Technologies’ Rs 1,335.7-crore IPO gets bids for 17X of the available 1.73 crore shares on offer on the last day of bidding. Retail investors quota of 31.3 lakh shares was oversubscribed by 8X. The offer comprises entirely of an offer for sale of up to Rs 1,336 crore.

• Shriram Properties’ Rs 600 crore IPO gets bids for 1.6X of the available 2.93 crore shares on offer on the second day of bidding. Retail investors quota of 52.83 lakh shares was oversubscribed by 8.3X. The offer comprises of a fresh issue of Rs 250 crore and an offer for sale of Rs 350 crore.

• Media stocks like Zee Entertainment, Network 18 Media & Investments, TV18 Broadcast and Hathway Cable & Datacom are rising. The broader sectoral index i.e. Nifty Media is up 3.3% today.

• MapmyIndia's Rs 1,040 crore IPO gets bids for 2X of its available 70.44 lakh shares on offer. Retail investors bid for over 3.28X their quota of 35.22 lakh shares on the first day of bidding. The offer is entirely an offer-for-sale by selling shareholders.

• Network 18 Media & Investments is trading with more than seven times its weekly average trading volumes. IIFL Finance, Burger King India, Tata Teleservices (Maharashtra), and Kalpataru Power Transmissions are trading with more than five times their weekly average trading volumes.

• RailTel Corporation rises after the company receives work order worth Rs 210.77 crore from Icron International for design, supply, installation, testing and commissioning of tunnel communication system in Banihal section of Jammu Kashmir rail link project.

• MapmyIndia raises Rs 311.88 crore ahead of its IPO by selling 30.19 lakh shares at Rs 1,033 a piece to anchor investors, including Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, HSBC and White Oak

• Westlife Development’ Chief Financial Officer (CFO) Mr. Pankaj Roongta resigns from the company on December 8. His resignation is effective from Wednesday.

• Marina IV (Singapore) fund sells 1.75 crore equity shares or 2.24% stake in Redington India. This effectively reduces its holding in the company to 7.42% from 9.65%.

• Bharti Airtel inks deal with Juniper Networks to expand its broadband network coverage across India. The company plans to cover 30 million households in 2,000 cities in the next three years.

• HWIC Asia Fund, an affiliate of Fairfax Financial Holdings, sells 1.52% stake in IIFL Finance (57.76 lakh shares) for Rs. 180.6 crore through a bulk deal on Wednesday. This brings the fund's shareholding in the company down to 2.76%.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (16.40, 14.69%), ABB India Ltd. (2300.40, 9.92%) and ITC Ltd. (235.40, 4.65%).

Downers:

Largecap and midcap losers today include SBI Cards and Payment Services Ltd. (955.75, -6.07%), JSW Energy Ltd. (295.50, -4.04%) and Biocon Ltd. (372.95, -2.57%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Just Dial Ltd. (842.15, 16.50%), Network 18 Media & Investments Ltd. (94.20, 16.01%) and Bombay Burmah Trading Corporation Ltd. (1124.00, 11.41%).

Top high volume losers on BSE were SBI Cards and Payment Services Ltd. (955.75, -6.07%), TeamLease Services Ltd. (4094.70, -2.45%) and Carborundum Universal Ltd. (893.90, -0.38%).

Sequent Scientific Ltd. (171.00, 0.50%) was trading at 18.6 times of weekly average. Burger King India Ltd. (162.65, 6.62%) and IIFL Finance Ltd. (309.35, 0.31%) were trading with volumes 9.9 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Escorts Ltd. (1878.60, 0.58%), GlaxoSmithKline Pharmaceuticals Ltd. (1868.20, 1.46%) and Vodafone Idea Ltd. (16.40, 14.69%).

Stock making new 52 weeks lows included - Gulf Oil Lubricants India Ltd. (493.00, -1.38%).

26 stocks climbed above their 200 day SMA including Edelweiss Financial Services Ltd. (76.50, 7.97%) and Burger King India Ltd. (162.65, 6.62%). 4 stocks slipped below their 200 SMA including Biocon Ltd. (372.95, -2.57%) and 3M India Ltd. (25323.35, -1.77%).