Indices in Asia opened higher Friday following the release of inflation data in Japan. All indices rose except South Korea's Kospi.
Japan’s key inflation measure accelerated for the first time in four months, going against the Bank of Japan’s view that it will decelerate, likely strengthening expectations of policy normalization.
While the core inflation rate rose to 2.9% in October, as against the 2.8% in September, the headline inflation rate was at 3.3%, higher than the 3% seen in from the month before.
European bonds fell after a report that Germany will suspend debt limits for a fourth consecutive year, adding to concerns over more borrowing as the euro-area economy slows, reports Bloomberg.
Brent crude was trading 0.90% lower at $81.22 a barrel. Gold was up by 0.13% to $1,992.81 an ounce.
India's benchmark stock indices snapped two days of gains to end marginally lower on Thursday, dragged by losses in Cipla Ltd., Infosys Ltd., and Tata Consultancy Services Ltd.
The S&P BSE Sensex ended 5.43 points, or 0.01%, lower at 66,017.81, while the NSE Nifty 50 fell 9.85 points, or 0.05%, to close at 19,802.
Overseas investors turned net buyers on Thursday after being net sellers for four consecutive sessions. Foreign portfolio investors bought stocks worth Rs 255.5 crore, while domestic institutional investors continued to be buyers and purchased stocks worth Rs 457.4 crore, the NSE data showed.
The Indian rupee weakened 2 paise to close at 83.34 against the U.S. dollar on Thursday.
Stocks To Watch
Lupin: The pharma major has received approval from the U.S. FDA for Bromfenac Ophthalmic Solution, 0.07%, and tentative approval from the U.S. FDA for Canagliflozin Tablets.
LTIMindtree: The global technology consulting and digital solutions company, launched the Quantum-Safe Virtual Private Network (VPN) link in London in collaboration with Quantum Xchange and Fortinet.
Indian Railway Catering and Tourism Corporation: The company’s e-ticket booking and cancellation were temporarily affected today from 11:15 a.m. to 1:52 p.m. due to technical reasons, and the same has been resolved.
Granules: The company received a communication from the GST authorities directing the payment of a tax liability of Rs 43.43 lakh for the tax period July 2017 to March 2021.
Radico Khaitan: The company announced the launch of Magic Moments Remix Pink Vodka to cater to the growing demand for the coloured and flavoured beverage alcohol category.
Bharat Electronics: NSE and BSE imposed a fine of Rs 1,82,900 each on the company for noncompliance with regulations with respect to the composition of the board of directors due to the insufficient number of independent directors.
Karnataka Bank: The bank tied up with Bajaj Allianz Life Insurance Company Limited to distribute life insurance products.
JSW Steel: The steel manufacturer completes the last tranche of its Rs 750 crore investment in JSW Paints, and the company now holds a 12.84% stake in JSW Paints.
Siemens: The company received a GST demand and penalty notice worth Rs 23.7 crore from Belapur's CGST and Central Excise Commissionerate.
NMDC: The company has set the iron ore price at 5,400 per tonne w.e.f Nov. 23 and the fines price at 4,660 per tonne w.e.f November 23.
Indian Hotels: The company has made an investment of Rs 55 crore in Genness Hospitality Private Ltd. and 35 crore in Qurio Hospitality Private Ltd. by way of subscription to rights issues.
Prestige Estates: The company launched a residential project called “Prestige Glenbrook” in Bangalore, comprising 285 apartments across two high-rise towers with a developable area of 0.7 million sq ft and a revenue potential of Rs 550 crore.
Apar Industries: The company opens QIP for raising up to Rs 1000 crore at a floor price of Rs 5,540.33 per share.
Castrol India: The company entered into a tripartite agreement with KFin Technologies Ltd. and Link Intime India Pvt.
Samvardhana Motherson International: The National Company Law Tribunal gave the nod for the scheme of amalgamation between Motherson Consultancies Service Ltd., Motherson Invenzen Xlab Pvt., Samvardhana Motherson Polymers Ltd., and MS Global India Automotive Pvt. with Samvardhana Motherson International Ltd.
Bharat Heavy Electricals: NSE and BSE imposed a fine of Rs 5,42,800 each for non-compliance with the SEBI regulation.
Vishnu Chemicals: The company incorporated Vishnu International Trading FZE, a wholly owned subsidiary in Dubai, UAE.
Anup Engineering: The National Company Law Tribunal gave the nod for scheme of amalgamation between Anup Heavy Engineering Ltd. and The Anup Engineering Ltd.
Clean Science and Technology: The company made an investment of Rs 60 crore in Clean Fino-Chem Ltd., a wholly owned subsidiary of the company, by way of the right issue.
JM Financial: The company received a warning letter from SEBI for a merchant banker rule violation.
IPO Offerings
IREDA: The IPO was subscribed 38.80 times on day three. The bids were led by institutional investors (104.57 times), non-institutional investors (24.16 times), a portion reserved for employees (9.8 times), and retail investors (7.73 times).
Tata Technologies: The IPO was subscribed 14.86 times on day two. The bids were led by non-institutional investors (31.04 times), a reserved portion for shareholders (20.04 times), retail investors (11.20 times), institutional investors (8.55 times), and a reserve portion for employees (2.36 times).
Gandhar Oil Refinery: The IPO was subscribed 15.27 times on day two. The bids were led by non-institutional investors (26.24 times), retail investors (17.27 times), and institutional investors (3.14 times).
Fedbank Financial Services: The IPO was subscribed to 0.90 times on day two. The bids were led by retail investors (1.26 times), a portion reserved for employees (0.78 times), institutional investors (0.56 times), and non-institutional investors (0.52 times).
Flair Writing Industries: The IPO was subscribed to 6.12 times on day two. The bids were led by non-institutional investors (10.05 times), retail investors (7.16 times), and institutional investors (1.36 times).
Bulk Deals
Home First Finance: Smallcap World Fund and Fidelity Global Investment Fund Asia Pacific Equity Fund bought over a 3.25% stake in Home First Finance Company India Ltd. for over 249 crore. True North Fund V LLP,Orange Clove Investments B.V., Aether Mauritius Ltd., True North Fund V LLP, Orange Clove Investments BV, and Aether Mauritius Ltd. sold over a 9.8% stake in Home First Finance Company India.
D B Realty: Authum Investment & Infrastructure bought 27 lakh shares (0.53%) at 198.90 apiece, while Neelkamal Tower Construction LLP sold 73 lakh shares (1.45%) at 199.05 apiece.
Insider Trading
Usha Martin: Promoter group Nidhi Rajgarhia sold 8,000 equity shares on Nov. 21.
D B Realty: Promoter group Shravan Kumar Bali sold 81,060 equity shares between Nov. 20 and 21.
Promoter Vinod Goenka HUF sold 2.7 lakh equity shares on Nov. 21.
Ultramarine and Pigments: The promoter group sold 2,976 equity shares between Nov. 22 and 23.
Pledge Share Details
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 1.93 lakh equity shares on Nov. 20.
Who’s Meeting Whom
Black Box: To meet analysts and investors on Dec. 1.
Premier Explosives: To meet analysts and investors on Nov. 28.
The New India Assurance Company: To meet analysts and investors on Nov. 29.
Five-Star Business Finance: To meet analysts and investors on Nov. 28 and Nov. 29.
JK Tyre & Industries: To meet analysts and investors on Nov. 28, 29 and 30.
The Phoenix Mills: To meet analysts and investors on Nov. 28 and 29.
Advanced Enzyme Technologies: To meet analysts and investors on Nov. 29 and 30.
Escorts Kubota: To meet analysts and investors on Dec. 5.
Indian Energy Exchange: To meet analysts and investors on Nov. 29.
V-Mart Retail: To meet analysts and investors on Nov. 30.
HEG: To meet analysts and investors on Nov. 29.
NHPC: To meet analysts and investors on Nov. 29.
Shriram Finance: To meet analysts and investors on Nov. 29.
Yatharth Hospital & Trauma Care Services: To meet analysts and investors on Nov. 28 and 30.
Titagarh Rail Systems: To meet analysts and investors on Nov. 25 to Dec. 1.
Care Ratings: To meet analysts and investors on Nov. 29 and 30.
Bajaj Finserv: To meet analysts and investors on Nov. 29 and 30.
Hindalco Industries: To meet analysts and investors on Nov. 29.
Tata Steel: To meet analysts and investors on Nov. 29.
Jindal Stainless: To meet analysts and investors on Dec. 12.
Oil and Natural Gas Corp: To meet analysts and investors on Nov. 30.
Rhi Magnesita India: To meet analysts and investors on Nov. 28.
Piramal Enterprise: To meet analysts and investors on Nov. 29.
Bharti Airtel: To meet analysts and investors on Nov. 29 and 30.
Grasim Industries: To meet analysts and investors on Nov. 29 and 30.
Trading Tweaks
Ex/record date Interim dividend: BMW Industries, Ddev Plastiks Industries, ESAB India, Goldiam International, Manappuram Finance, Natco Pharma, Power Finance Corporation, Uniparts India.
Ex/record date Bonus issue: Avantel
Ex/record date Buyback: Gujarat Narmada Valley fetilizers & Chemicals, Tata Consultancy Services.
Move into a short-term ASM framework: Prataap Snacks.
F&O Cues
Nifty November futures fell 0.08% to 19,868.75 at a premium of 66.75 points.
Nifty November futures open interest rose by 3.68% to 7,696 shares.
Nifty Bank November futures rose by 0.23% to 43,690.15 at a premium of 112.65 points.
Nifty Bank November futures open interest fell by 5% to 6975 shares.
Nifty Options Nov 23 Expiry: Maximum call open interest at 20000 and maximum put open interest at 19,800.
Bank Nifty Options Nov 22 Expiry: Maximum Call Open Interest at 44000 and Maximum put open interest at 43,500.
Securities in the ban period: Balrampur Chini, HPCL, Hindustan Copper, Indiabulls Housing Finance, India Cement, Manappuram Finance, MCX, RBL Bank, Zee Entertainment.
Money Market Update
The Indian rupee weakened 2 paise to close at 83.34 against the U.S dollar on Thursday.
RECOMMENDED FOR YOU
Trade Setup For Oct 21: Nifty Shows Bearish Formation On Daily, Weekly Charts
Oct 20, 2024
Newgen Software Technologies Q2 Results: Profit Jumps 47%, Beats Estimates
Oct 15, 2024
Time Technoplast Gets A 'Buy', As Systematix Initiates Coverage; Sees 56% Upside
Oct 14, 2024
All Time Plastics Applies For IPO To Raise Over Rs 350 Crore
Sep 30, 2024
POPULAR