KEY HIGHLIGHTS
IPO Update: Sagility India IPO Subscribed 66% So Far On Day Three
The IPO was subscribed 0.66 times, or 66%, as of 11:15 a.m. on Wednesday.
Qualified institutional buyers: 0.07 times, or 7%.
Non-institutional investors: 0.38 times, or 38%.
Retail investors: 2.79 times.
Portion reserved for employees: 2.87 times.
Stock Market Live: TCS Signs Pact With Air France–KLM
Tata Consultancy Services Ltd. signed a multi–year deal with Air France-KLM for data solutions, it said in an exchange filing.
Stock Market Live Updates Today: HCLTech In Pact With New Zealand Tasman District Council
HCLTech Ltd. is in pact with New Zealand's Tasman District Council for digital solutions, it said in an exchange filing.
Stock Market Live: India Volatility Index Off Highs
The NSE India Volatility index pared most of the gains from early trade. The index rose as much as 4.41% to 15.52. The index was trading 0.13% higher at 14.89 as of 11:05 a.m., as compared to 0.97% decline in the NSE Nifty 50 index.
The India VIX was trading 0.30% higher at 14.91 as of 11:06 a.m.
The India VIX was trading 0.30% higher at 14.91 as of 11:06 a.m.
Hindalco Industries Share Price Slumps Almost 8%
Hindalco Industries Ltd. share price declined 7.81% to Rs 652.90 apiece, the lowest level since Sep 12. The share price was trading 7.39% down at Rs 655.45 apiece as of 10:48 a.m., as compared to 1.13% decline in the NSE Nifty 50.
Hindalco Industries share price declined 7.66% to Rs 653.95 apiece.
Hindalco Industries share price declined 7.66% to Rs 653.95 apiece.
Stock Market Live Updates: Bharat Global Developers Gets Rs 120 Crore
Bharat Global Developers received Rs 120 crore infra engineering order from Reliance Industries Ltd., it said in an exchange filing.
Stock Market Live: Nifty IT Falls Over 1% As Infosys, TCS Share Prices Drag
The NSE Nifty IT index declined 1.29% to 41,492.65. The index was trading 1.25% down at 41,525.65 as Infosys Ltd. and Tata Consultancy Services share prices dragged.
The Nifty IT was trading 1.29% down at 41,495.80.
The Nifty IT was trading 1.29% down at 41,495.80.
Trump's Win Augurs Well For US–India Strategic Ties, Says Envision Capital's Shah
Donald Trump's win in the US election augured well for US–India strategic ties, Envision Capital Founder Nilesh Shah said in an interview to NDTV Profit. India is expected to get a larger share for the import basket of US.
Trump administration is likely to see a significant spike in tariffs, trade barriers against China. Most important impact of a Trump win will be on geopolitics, Shah said. He expects that the world will likely see a lot more normalcy on the geopolitical front, and less disruptions on trade post.
Max Healthcare Institute To Invest Rs 6,000 Crore In Capex, Says MD Soi
Max Healthcare Institute Ltd. will invest Rs 6,000 crore in capital expenditure in next three to five years using internal accruals, said Abhay Soi, chairman and managing director. Second quarter and Q4 are the strongest quarters from occupancy level. Average revenue per occupied bed in Nagpur is at Rs 37000 while Lucknow has ARPOB of around Rs 55,000, Soi said in an interview to the NDTV Profit.
Stock Market Live Updates: Avalon Technologies Share Price Jumps Nearly 18%
Avalon Technologies Ltd. share price jumped 17.85% to Rs 694.95 apiece, the highest level since July 17. It was trading 13.11% higher at Rs 666.5 apiece as of 09:52 a.m, as compared to 0.57% decline the NSE Nifty 50 index.
The stock gained as Avalon Technologies reported that its consolidated net profit more than doubled in the July–September. Its net profit jumped 141.67% to Rs 17.2 crore from Rs 7.2 crore.
Avalon Technologies Ltd. share price was trading 13.44% higher at Rs 668.95 apiece.
Avalon Technologies Ltd. share price was trading 13.44% higher at Rs 668.95 apiece.
Stock Market Live: Kalyan Jewellers Share Price Gains 9% In Two Days
Share price of Kalyan Jewellers India Ltd. rose for a second consecutive session on Thursday when MSCI in a statement announced the company's upgrade to mid-cap from small-cap segment.
Apollo Hospitals Share Price Jumps Nearly 7% After Q2 Net Profit Increases
Apollo Hospitals stock rose as much as 6.68% to Rs 7433.65 apiece on the NSE. The stock price rose after it reported that its consolidated net profit rose nearly 60% for July–September.
Apollo Hospitals Enterprise share price was 6.205 higher at Rs 7,400 apiece.
Apollo Hospitals Enterprise share price was 6.205 higher at Rs 7,400 apiece.
Stock Market Live: Nifty, Sensex Fall After Flat Open As RIL, Hindalco Industries Share Prices Drag
The NSE Nifty 50 and BSE Sensex declined after opening flat as index heavyweight Reliance Industries Ltd., and Hindalco Industries Ltd. share prices dragged. As of 09:17 a.m., the Nifty 50 was trading 60.35 points 0.25% lower at 24,423.70, and the Sensex was 75.53 points or 0.1% lower at 80,302.60.
From a technical perspective, if the market remains above 24,400/80,000, the indices may rise to 24,700-24800/80,900-81,200 in the near future. However, if the market fails to sustain above 24,500/80,300, it could correct and retest the earlier resistance levels, which were at 24x,300-24,200/79,700-79,400, said Shrikant Chouhan, head, equity research, Kotak Securities.
The Sensex was 0.09% down at 80,302.71.
The Sensex was 0.09% down at 80,302.71.
The Nifty 50 was 0.22% down at 24,503.35.
The Nifty 50 was 0.22% down at 24,503.35.
The Nifty Bank was 0.22% down at 52,377.15.
The Nifty Bank was 0.22% down at 52,377.15.
ICICI Bank Ltd., Reliance Industries Ltd., Hindalco Industries Ltd., Trent Ltd., and Adani Enterprises Ltd. weighed on the Nifty 50 index.
Tata Consultancy Services Ltd., Apollo Hospital Enterprise Ltd., Bharti Airtel Ltd., HCLTech Ltd., and Tata Steel Ltd. added to the Nifty 50 index.
Top contribution to the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, seven sectors declined, three advanced, and two remained largely flat out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty IT index rose the most.
Most sectoral indices opened lower at open on Nov 7
Most sectoral indices opened lower at open on Nov 7
Broader markets outperformed benchmark indices. The BSE Midcap was 0.08% down, and the BSE Smallcap was 0.05% higher.
On BSE, out of 21 sectors, 14 sectors declined, two advanced, and five remained flat. The BSE Consumer Durables declined the most, while the BSE IT rose the most.
Market breadth was skewed in favour of buyers. Around 1,853 stocks advanced, 1,123 stocks declined, and 114 stocks remained unchanged on BSE.
Stock Market Live: Nifty, Sensex Trade Higher At Pre–Open
At pre–open, the NSE Nifty 50 was trading 5.55 points or 0.02% higher at 24,489.60, and the BSE Sensex was trading 0.23% higher at 80,563.42.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.82%. It closed at 6.83% on Wednesday, according to data on Bloomberg.
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to open at 84.26 against the US dollar. It closed at a record low of 84.28 on Wednesday, according to data on Bloomberg.
Stock Market Live: Macrotech Developers To Acquires Platform Entities From Bain Capital
Macrotech Developers Ltd. will acquire digital infrastructure platform entities from Bain Capital for Rs 307 crore, it said in an exchange filing.
Emkay Global Research On JK Tyre
Retain Buy with TP 650 vs 700 earlier, Upside 66%
Q2 results down with sales impacted in Mexico and Latin America
The company is leader in domestic CV segment which has been weak in H1
The brokerage cut FY25E/26/27 PAT by ~18%/10%/8% factoring in Q2 miss, gradual margin recovery
The commercial vehicle outlook improving amid expected pickup in infra/capex activity and a favorable base
Softening rubber prices, pricing action OF 3-3.5% YTD and better mix should aid margin recovery Q4FY25E onwards
Maintained Buy amid attractive valuations of 8.5x Sep-26E P/E vs 17.3x peer average
Morgan Stanley On Amara Raja
Retain Underweight with TP 1057, Downside 21%
Strong growth in the replacement market offset by slower growth in new energy segment
Industrial volumes declined by 10% YoY due to lower telecom demand.
New energy segment experienced slower offtake from 3W OEMs
2GWh NMC cell plant expected to commence operations by the end of CY26.
Tubular battery plant projected to improve margins starting F25.
A 1.5% price hike was implemented in early F2Q25 to offset commodity costs.
Anticipated EBITDA margins of 14-14.5%, with a target of 11-12% for the new energy segment.
Exports projected to grow at a 15% CAGR over the next 3-4 years.
Gold Prices Extend Losses To Second Session As Dollar Index Hovers Near Four–Month High
The Gold spot and future prices extended losses to a second session on Thursday as the dollar index continued to trade near four–month high it hit on Wednesday. A rise in the greenback makes the bullion expensive for other currency holders, subsequently weigh on the demand.
Moreover, the US Treasury yield also continued to trade around four–month high, which reduced the charm of the precious metal as a safe–haven asset.
As of 8:18 a.m., the Gold future trading 0.46% down at $2,664.10 an ounce. The Bloomberg spot Gold was trading 0.06% down at $2,657.46 an ounce.
Stock Market Live: Solar Energy Corp Bars Reliance Power From Bidding
Solar Energy Corp of India barred Reliance Power Ltd. and its subsidiaries from bidding in future tenders for three years. The debarrment is due to fake bank guarantees submitted in last round of bidding.
SECI had cancelled last bidding round owing to discrepancies in bank guarantees submitted by Reliance Power subsidiary.
Asia FX Update: Yen Rebound Against US Dollar
The Japanese yen rebound to start recovery from steep losses against the US Dollar on Thursday. The Japanese unit was trading 0.14% higher at 154.42 a dollar as of 8:04 a.m.
Other Asian currencies were trading on a mixed note against the greenback. The South Korean Won was 0.29% higher at 1,396.78 a dollar, while the Taiwanese Dollar declined 0.26% against the US unit.
The dollar index continued to gain strength after touching a four–month high on Wednesday after early vote count showed Donald Trump is winning the race to the Oval Office. The dollar index was trading flat at 105.1 as of 08:01 a.m.
Oil Prices Rise As Traders Analyse Likely Impact Of Trump Presidency
Crude oil futures prices rose in early Asian trade as traders try to analyse beforehand the impact of the Donald Trump's second presidency in the US for the commodity market.
The January future contract of the brent crude was trading 0.75% higher at $75.48 a barrel as of 7:43 a.m.
Stock Market Live Updates Today: Citi Research On Midspace Business Parks Reit
Maintain Buy with a target price Rs 405, which implied a 6.6% upside
Portfolio grown by ~5msf to ~34msf in Sep'24 since listing
Portfolio growth to be driven by acquisitions from sponsor group
Expects occupancy stabilizing at ~96% in next 12 months
Company expects organic NOI growth of Rs9-10bn over next 4 years
Stock Market Live: Citi Research On Jindal Steel & Power
Maintain Sell with a target price Rs 850, which implied a 10.9% downside
Q2 standalone adj EBITDA fell ~29% qoq on lower volumes and realization
Despite Chinese optimism, believe not enough to swing demand
Expect EBITDA/t to rise vs Q2 but valuations price in fair bit of optimism
Sees lack of visibility on volume growth despite the HSM commissioning
Cut FY25/26/27 EBITDA by 7%/9%/8% on lower steel volumes and trends
The Yield On 10–Year US Treasury Note Hovers Around Four–Month High
The yield on the benchmark 10–year US Treasury note was hovering around four–month high it hit on Wednesday. The yield rose as early vote count showed Donald Trump winning a second presidency at the White House.
The yield on the benchmark 10–year US Treasury note was at 4.43% as of 7:18 a.m. IST.
Asia Market Update: Stock Gauges Off Highs On Concerns Over Trump's Victory
Asia–Pacific erased opening gains as market participants become concerned about the impact of Donald Trump's presidency, which is likely to impose higher tariffs, Bloomberg reported.
The Nikkei 225 was trading 338.58 points or 0.86% down at 39,142.09, and the S&P ASX 200 was trading 36.70 points or 0.45% down at 8,162.80 as of 07:07 a.m.
US Market Update: Share Indices Hit Fresh Highs As Trump Wins US Presidential Election
The S&P 500 and Nasdaq 100 rose to fresh highs with the former posting the best post-election day in history, Bloomberg reported citing Birinyi Associate Inc. The rally was fuelled as markets bet that Donald Trump's presidency will be good for the world's largest economy.
The S&P 500 ended 2.53% higher at 5,929.04, and the Nasdaq 100 ended 2.74% higher at 20,781.34.
The Dow Jones Industrial Average ended 3.57% higher at 43,729.93.
GIFT Nifty Above 24,400; RVNL, Tata Steel, UltraTech Cement Share Prices May react
The GIFT Nifty was trading above 24,400 in early trade Thursday. Rail Vikas Nigam Ltd., Tata Steel Ltd., and UltraTech Cement Ltd. share prices are likely to be in focus.
The GIFT Nifty was trading 0.06%, or 14 points, down at 24,472.50 as of 06:34 a.m.
Indian benchmark indices ended with over 1% gain on Wednesday, with Infosys Ltd., Tata Consultancy Services Ltd. and overall technology stocks contributing to the benchmark indices' rally.
The Nifty 50 ended 270.75 points, or 1.12%, higher at 24,484.05, and the Sensex closed 901.50 points, or 1.13%, up at 80,378.13.
"Markets rallied today as Donald Trump took a comfortable lead in US presidential polls crossing the 270 majority mark. Markets will be reacting on Friday to US Fed and BoE interest rate decision tomorrow. There is an expectation of 25 bps rate cut by the Fed committee. We expect markets to see a near term bounce back due to positive sentiments globally," said Siddhartha Khemka, head, research, wealth management, Motilal Oswal Financial Services.
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