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Trendlyne Marketwatch
26 Nov 2025, 02:48PM
Market trades higher, SBI MF acquires Rs 296 cr stake in Elgi Equipments
By Trendlyne Analysis

 

Nifty 50 was trading at 26,158.90 (274.1, 1.1%) , BSE Sensex was trading at 85,543.06 (956.1, 1.1%) while the broader Nifty 500 was trading at 23,901.50 (1.04%). Market breadth is surging up. Of the 2,542 stocks traded today, 1,812 were on the uptick, and 662 were down.

Nifty 50 opens lower, after dropping 41.9 points in the pre-opening session. Indian indices closed in the red on Tuesday. FIIs bought shares worth Rs 785.3 crore, while DIIs bought Rs 3,912.5 crore in Indian equities on the same day.

Nifty Midcap 100 and Nifty Smallcap 100 open higher. Nifty Auto and Nifty Metal open in the green. Nifty IT opens higher, tracking the tech-heavy Nasdaq 100 index, which closed 0.6% in the green on Tuesday.

Major European indices closed higher on Tuesday, except Portugal’s PSI index, which closed flat. Major Asian indices are trading in the green. US indices closed higher on Tuesday, with the Dow Jones and S&P 500 closing 1.4% and 0.9% in the green as US retail sales grew 0.2% in September, increasing the chances of a Fed rate cut in the upcoming meeting in December.

  • Thermax is rising as its arm, Thermax Babcock & Wilcox Energy Solutions, secures an order of over Rs 580 crore from Dangote Industries for utility boilers in its Nigeria refinery project. The contract includes four high-pressure boilers, along with engineering, commissioning, and support.

  • Reports suggest that around 51.7 lakh shares of Reliance Infrastructure have changed hands at an average price of Rs 157 per share, worth approximately Rs 81.2 crore. Elimath Advisors is likely the buyer in the transaction.

  • Paras Defence & Space Technologies rises as it enters a licensing agreement with the Defence Research & Development Organisation (DRDO) to transfer its driver night sight (DNS) technology for T-90 tanks.

  • Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) rise after Brent crude slips to a one-month low of $61 per barrel. West Texas Intermediate (WTI) crude also hits a one-month low at $57 amid concerns of excess global supply over demand.

  • Aditya Virwani, MD of Embassy Developments, remains confident of meeting the FY26 guidance of Rs 5,000 crore in pre-sales and Rs 2,200 crore in collections, despite achieving only about 12–13% in the first half. He says the business is coming out of a long-dormant phase, and with major launches in Bengaluru and Mumbai, the company expects a strong pickup in H2FY26.

  • Pace Digitek is rising as it secures a Rs 199.4 crore order from Larsen & Toubro. The contract involves supplying battery energy storage systems to the Kajra power project through its subsidiary, Lineage Power

  • Shakuntala Shetty sells 11.8 lakh shares (0.6% stake) in Narayana Hrudayalaya, worth approximately Rs 230.7 crore, at an average price of Rs 1,960.1 per share in a block deal.

  • AustralianSuper acquires 94.8 lakh shares (0.7% equity) of AWL Agri Business in a bulk deal worth Rs 260.8 crore. The transaction was executed at an average price of Rs 275 per share.

  • Riju Jhunjhunwala, Vice Chairman of HEG, highlights that the recent promoter buying signals strong confidence in the business outlook. The company targets the demerger of its graphite business by mid-2026. Looking ahead, Jhunjhunwala projects significant growth in the Graphite Electrode segment, with EBITDA expected to rise from Rs 450 crore in FY26E to Rs 650 crore in FY27E.

  • Geojit BNP Paribas upgrades Lupin to a 'Buy' call from 'Hold', with a higher target price of Rs 2,225 per share. This indicates a potential upside of 8.2%. The brokerage is confident in the company's long-term performance, led by its investments, operational improvements, and a strong pipeline. It expects the firm to deliver a revenue CGAR of 10.2% over FY26-27.

  • Vikram Solar expands its module production capacity by 5 gigawatts (GW) at its Vallam facility in Tamil Nadu, taking its total capacity to 9.5 GW.

  • Elgi Equipments rises sharply after SBI Mutual Fund acquires 55 lakh shares (1.8% equity) for Rs 268.6 crore. The fund already held a 4.3% stake in the company.

  • Nuvama initiates coverage on Premier Energies with a 'Buy' rating and a target price of Rs 1,270. The brokerage says the company is well-placed to benefit from growth in the New Energy ecosystem while its core solar business stays steady. It expects some margin pressure but notes that the company's move into wafers, BESS (battery energy storage systems), transformers and inverters should support growth and reduce overall risk.

  • ASK Automotive rises as its promoter, Kuldip Singh Rathee, sells a 4% stake (~78.9 lakh shares) for Rs 373 crore at an average price of Rs 473 per share. The sale is to meet the minimum public shareholding requirement of 25%. SBI Mutual Funds buys 78.6 lakh shares for Rs 371.9 crore.

  • Excelsoft Technologies' shares debut on the bourses at a 12.5% premium to the issue price of Rs 120. The Rs 500 crore IPO received bids for 43.2 times the total shares on offer.

  • Indraprastha Gas is rising as it forms a 50:50 joint venture (JV) with CEID Consultants & Engineering to set up a compressed biogas plant.

  • Elara Securities maintains its 'Buy' rating on Kaynes Technology with a target price of Rs 7,670. The brokerage remains positive on the company’s long-term outlook, supported by a capex of Rs 11,000 crore through FY29. It notes FY26 revenue guidance remains steady at Rs 4,500 crore, driven by demand across automotive, EVs, railways, aerospace, and industrials.

  • Zydus Lifesciences rises as it receives approval from the US FDA for Verapamil Hydrochloride extended-release tablets. The drug is used to treat high blood pressure and has a market size of $24.5 million according to IQVIA.

  • Indian Overseas Bank is rising as it receives an income tax refund order worth Rs 835.1 crore from the Income Tax (IT) Department for AY23.

  • Bharti Airtel is falling as its promoter entity, Indian Continent Investment, owned by the Mittal family, reportedly plans to sell 3.4 crore shares (or 0.6% stake) worth Rs 7,193 crore via block deals.

  • NCC is rising as it receives an order worth Rs 2,062.7 crore from the Public Works (Health & Education) Department, Assam, to expand and modernise Gauhati Medical College & Hospital.

  • Nifty 50 was trading at 25,969.65 (84.9, 0.3%), BSE Sensex was trading at 84,503.44 (-83.6, -0.1%) while the broader Nifty 500 was trading at 23,749.55 (94.5, 0.4%).

  • Market breadth is overwhelmingly positive. Of the 2,081 stocks traded today, 1,540 were on the uptick, and 465 were down.

Riding High:

Largecap and midcap gainers today include Siemens Ltd. (3,306.20, 3.9%), Lloyds Metals & Energy Ltd. (1,233.80, 3.8%) and Varun Beverages Ltd. (465.05, 3.6%).

Downers:

Largecap and midcap losers today include Mahindra & Mahindra Financial Services Ltd. (351, -2.6%), FSN E-Commerce Ventures Ltd. (263.91, -2.4%) and Bharti Airtel Ltd. (2,130.40, -1.4%).

Movers and Shakers

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

Top high volume gainers on BSE included Carborundum Universal Ltd. (895.10, 7.2%), Tata Investment Corporation Ltd. (771, 6.1%) and NMDC Steel Ltd. (42.82, 4.5%).

Top high volume loser on BSE was Bharti Airtel Ltd. (2,130.40, -1.4%).

Vardhman Textiles Ltd. (432, 1.6%) was trading at 4.8 times of weekly average. NCC Ltd. (174.76, 0.9%) and R R Kabel Ltd. (1,395, 2.4%) were trading with volumes 3.9 and 3.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks made 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - AIA Engineering Ltd. (3,794.50, -0.8%), Axis Bank Ltd. (1,287.50, 1.7%) and Bank of India (148.46, 0.9%).

Stocks making new 52 weeks lows included - United Breweries Ltd. (1,699, 0.0%) and Deepak Nitrite Ltd. (1,577.70, -0.2%).

24 stocks climbed above their 200 day SMA including Natco Pharma Ltd. (905.80, 8.6%) and JK Cement Ltd. (5,850, 4.7%). 5 stocks slipped below their 200 SMA including Swan Corp Ltd. (440.90, -1.0%) and Sundram Fasteners Ltd. (960.20, -0.5%).

 
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