Markets in the Asia–Pacific rose, with the S&P ASX 200 hitting an all–time high, while traders await a slew of economic data from the region this week.
The Nikkei 225 and S&P ASX 200 were trading 1.96% and 0.68% higher, respectively as of 06:47 a.m.
On Friday, the Dow Jones Industrial Average and S&P 500 ended 0.97% and 0.35% higher, respectively. The Nasdaq Composite ended 0.16% higher.
Brent crude was trading 0.09% higher at $75.24 a barrel as of 6:34 a.m. The Bloomberg spot gold was trading 0.47% down at 2,703.98.
The GIFT Nifty was trading 1.11% higher at 24,283.50 as of 6:49 a.m.
The NSE Nifty 50 and BSE Sensex recorded the best session in over five months on Friday after ending with over 2% gain. The Nifty 50 ended 557.35 points or 2.39% higher at 23,907.25, and the Sensex closed 1,961.32 points or 2.54% higher at 79,117.11.
The benchmark indices witnessed a sharp rise post 1:30 p.m. The Nifty 50 rose as much as 2.6% to 23,956.10, and the Sensex jumped 2.67% to 79,218,19. It's the highest intraday jump since June 5.
Overseas investors remained net sellers of Indian equities for the 38th consecutive session on Friday, while domestic institutional investors stayed net buyers for the 13th straight session.
Foreign portfolio investors net sold stocks worth Rs 1,278.4 crore, according to provisional data shared by the National Stock Exchange. The DIIs were net buyers of shares worth Rs 1,722.2 crore.
Stocks To Watch
Zaggle Prepaid Ocean Services: The company entered into an agreement with Golden Jasraj Music Platforms for launch of co-branded prepaid cards (Cultural & Tourism Prepaid Card Program) to corporate customers and their users.
Paras Defence And Space Technologies: The company opened its advanced optical systems testing facility in Navi Mumbai, Maharashtra. The company plans to make an investment of Rs 500 crore over the next few years to build India’s first advanced optical systems development park.
Central Bank of India: The company received approval from the Reserve Bank of India to enter the insurance business through a joint venture with Italian major Generali Group.
MTNL: The company fails to fund an escrow account for bond interest payment due on Dec. 1.
RVNL: The company joint venture with SCPL received a letter of acceptance worth Rs 838 crore from Eastern Railway.
Protean e-Gov Technologies: NSE Investments to exercise oversubscription option In offer for sale.
Jyoti Structures: The company approved fund raise of up to Rs 500 crore by way of a rights issue.
VST Industries: The company has sold an immovable property worth Rs 102 crore to ViNS Bioproducts.
Rites: Northeast Frontier Railway revised the estimated cost for railway electrification work to Rs 532 crore from Rs 288 crore earlier.
BSE: The Securities and Exchange Board Of India has approved the appointment of Subhasis Chaudhuri as the chairperson on the governing board. The said appointment is effective from Friday.
Zomato, JSW Steel: Zomato Ltd. will be added to the Sensex from Dec. 23, while JSW Steel Ltd. will be removed from the index, the BSE Ltd. said on Friday while announcing its periodic rebalancing of constituents.
Prakash Industries: The Chhattisgarh government had executed the mining lease in favour of the company for mining of coal over a period of 30 years for its Bhaskarpara commercial coal mine in Surajpur district.
Mahindra Lifespace Developers: Mahindra World City Developers, the arm of the company, is in a pact with Japan's Sumitomo Corporation to develop the second phase of industrial parks project in Tamil Nadu. The arm and Sumitomo Corp to make an investment of Rs 225 crore in the joint venture.
Cochin Shipyard: The company entered into a memorandum of understanding with Seatrium Letourneau for the design and critical equipment for jack-up rigs for the Indian market.
RBL Bank: The Reserve Bank of India imposed a Rs 61.4 lakh monetary penalty on the bank for not complying with know-your-customer norms. The bank allotted multiple customer identification codes to certain customers instead of unique codes for each customer.
Uno Minda: The company issued the unlisted commercial paper of Rs 50 crore with allotment date Nov. 22, 2024, and due for maturity on Feb.18, 2025.
SBI Cards and Payments Services: The board approved the appointment of Challa Sreenivasulu Setty as the chairman.
CESC: The company’s arm received a letter of intent to buy a discom in Chandigarh for Rs 871 crore.
H.G. Infra Engineering: The company received a letter of award from NTPC Vidyut Vyapar Nigam for setting up standalone battery energy storage systems.
Escorts Kubota: The company's arm to start business operations of non-banking financial institutions without accepting public deposits effective Nov. 26.
Matrimony: The company has extinguished 7,02,439 equity shares consequent to the completion of the buyback through the tender offer route.
IPO Offering
NTPC Green Energy: The public issue was subscribed 2.42 times on day 3. The bids were led by retail investors (3.44), followed by qualified institutional investors (3.32 times), a portion reserved for shareholders (1.6 times) and a portion reserved for employees (0.8 times).
Enviro Infra Engineers: The public issue was subscribed 2.08 times on day 1. The bids were led by the portion reserved for employees (3.17 times), followed by non-institutional investors (2.98 times), qualified institutional investors (2.4 times) and investors (1.7 times).
Bulk Deals
Protean e-Gov Technologies: Discovery Global Opportunity Mauritius bought 2.5 lakh shares (0.61%) at Rs 1,728.26 apiece.
Kernex Microsystems: Jai Singh sold 2.38 lakh shares (1.42%) at Rs 965.31 apiece.
Tourism Finance Corp: Aditya Kumar Halwasiya bought 5 lakh shares (0.53%) at Rs 168.12 apiece.
Block Deals
Ashapura Minechem: Saltoro Alpha LP bought 11.9 lakh shares (1.3%) at Rs 249.1 apiece, while Copthall Mauritius Investment Ltd. sold 11.9 lakh shares (1.3%) at Rs 249.1 apiece.
JM Financial: J M Assets Management bought 10.65 lakh shares (0.11%) at Rs 131.9 apiece, SNK Investments bought 10.65 lakh shares (0.11%) at Rs 131.9 apiece while Aruna Nimesh Kampani sold 21.3 lakh shares (0.22%) at Rs 131.9 apiece.
Insider Trade
Salasar Techno Engineering: Promoter Alok Kumar sold 13.12 lakh shares, Promoter Tripti Gupta sold 9.85 lakh shares, Promoter Shikhar Gupta sold 25,000 shares between Nov. 18 and 19.
Pledge Share Details
Gensol Engineering: Promoter Anmol Singh Jaggi created a pledge for 20,000 shares and promoter Gensol Ventures created a pledge for 1 lakh shares on Nov. 21.
Gensol Engineering: Promoter Gensol Ventures created a pledge for 2.5 lakh shares on Nov. 4 and promoter Anmol Singh Jaggi revoked a pledge for 3.5 lakh shares on Nov. 13.
Trading Tweaks
Price band changes from 5% to 10%: Cupid
Ex/record Bonus Issue: Shakti Pumps (in the ratio of 5:1)
Ex/record dividend: Balrampur Chini Mills, EPL, PFC.
Moved into short term ASM: Indraprastha Gas, J.G.Chemicals, Kalyani Forge.
Moved out short term ASM: Kopran, Ajmera Realty and Infra India.
Who's Meeting Whom?
Equitas Small Finance Bank: To meet investors and analysts on Nov. 29.
Aditya Birla Real Estate: To meet investors and analysts on Nov. 27.
Wealth First Portfolio Managers: To meet investors and analysts on Nov. 27, 28 and 29.
Hyundai Motor India: To meet investors and analysts on Nov. 27.
Cummins India: To meet investors and analysts on Nov. 27.
CARE Ratings: To meet investors and analysts on Nov. 28.
F&O Cues
Nifty November futures up by 2.36% to 23,900 at a discount of 7 points.
Nifty November futures open interest down by 10.8%.
Nifty Options November 28 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 21,700.
Securities in ban period: Aarti Industries, Adani Enterprises, GNFC, Granules, Hindustan Copper, IGL, National Aluminium.
Money Market
The Indian rupee closed stronger after having faced pressure against the US dollar earlier in the day.
The domestic unit appreciated 5 paise to close higher at 84.45 after opening flat at 84.49 against the US dollar on Friday, according to Bloomberg data.
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