Stock Market Today: All You Need To Know Going Into Trade On Nov. 26

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Markets are tracking quarterly updates presented by listed players and it seems that it isn't liking half disclosures. (Photo courtesy: NDTV Profit.) 

Indices in the Asia-pacific region traded lower with Japan's Nikkei trading nearly 2% lower as of 7:07 a.m., while Australia's ASX 200 and Hong Kong's Hang Seng fell 0.5% each. South Korea's Kospi fell by 0.7% while China's CSI 300 was down 0.2%.

This was despite their Wall Street peers Dow Jones and S&P 500 hitting new records. S&P 500 was up 0.30% and closed at 5,987.37, Dow Jones was up 0.99% to record its highest close of 44,736.57, and Nasdaq Composite rose 0.27% to 19,054.84.

GIFT Nifty was trading at 24,295.00, down by 58.5 points or 0.2% at 7:11 a.m. Futures of Brent Crude fell 0.2% to $72.87 a barrel.

On Monday, Indian equity indices, including the Nifty 50 and BSE Sensex, gained nearly 4% over two sessions, recouping recent losses. Both the benchmarks recorded their highest closing since Nov. 6.

The Nifty closed 1.32% higher at 24,221.90, while the Sensex rose 1.25% to 80,109.85.

Overseas investors became net buyers of Indian equities on Monday, ending 38 consecutive sessions of selling. Foreign portfolio investors bought stocks worth Rs 9,948 crore, marking the second-highest single day buying of the year.

Meanwhile, domestic institutional investors turned net sellers, offloading shares worth Rs 6,908 crore after 13 consecutive sessions of being net buyers.

Stocks To Watch

  • InterGlobe Aviation: The company's market share saw a slight increase, rising to 63.3% from 63% month-on-month. However, the passenger load factor experienced a small dip, decreasing from 82.6% to 82.3%.

  • SpiceJet: The company's market share grew to 2.4% from 2% month-on-month. The passenger load factor also saw a slight improvement, rising from 80.4% to 81%.

  • Zomato: The board opens the QIP and sets floor price for QIP at Rs 265.91 per share. It also received communications on liquidation of step-down arm Zomato Internet. The Zomato Internet did not have any active business operations and was under the process of liquidation.

  • Ashoka Buildcon: Ashoka Buildcon has secured a Rs 1,391-crore project from the National Highways Authority of India on Monday. The project involves the development of a highway in West Bengal. The company has received the "letter of award" for the project, which will be executed under the hybrid annuity model.

  • HDFC Life Insurance: Customer data fields were shared by an unidentified source. The company is conducting a thorough investigation, working with information security experts to determine the root cause and take appropriate remedial action. The investigation is ongoing to evaluate any potential impact, and the company is making this disclosure in the interest of good governance.

  • GE Vernova: Grid Equipments Pvt., a promoter of GE Vernova T&D India Ltd., plans to sell up to approximately 2.15 crore equity shares, representing an 8.38% stake, through an offer for sale across two trading days. The floor price for the offer has been set at Rs 1,550 per share, on Monday. The seller intends to sell 1.4 crore equity shares, the base offer, with a face value of Rs 2 each, representing 5.47% of GE Vernova T&D's paid-up equity share capital. This portion will be available on Tuesday exclusively for non-retail investors.

  • Hindustan Unilever: The board approved the demerger of its ice-cream business into an independent listed entity, based on the recommendation of the independent committee and the incorporation of a wholly owned arm for the proposed demerger of ice cream business.

  • Hitachi Energy India: The company received a notification of award from Power Grid for Renewable Energy Project.

  • Power Grid Corp.: The company has been declared as the successful bidder under the tariff-based competitive bidding.

  • New India Assurance Co: Income tax department to refund Rs 1,945 crore, including interest, to company for assessment years 2013–14 to 2019-20.

  • Gulf Oil Lubricants India: The company and Piaggio Vehicles renewed their strategic partnership agreement to extend collaboration in delivering genuine and co-branded lubricants across Piaggio's commercial vehicle segment.

  • Sigachi Industries: Sarweswara Reddy Sanivarapu resigned as Chairman and Independent Director to pursue new business ventures and or to take new professional assignment and opportunities.

  • StoveKraft: The company commissioned the newly constructed cast Iron Foundry at Harohalli factory. The foundry is built at a cost of Rs 40 crore. The foundry’s current installed capacity of 2.2 million pieces per annum and has been designed to reach 4.4 million pieces per annual in future.

  • Wipro: Pierre Bruno is stepping down as CEO of Europe strategic market unit and appointed Omkar Nisal as CEO of strategic market unit.

  • Paisalo Digital: The board is to meet on Nov. 28 to consider fundraising.

  • LT Foods: The company to make an investment SAR 185 million over next 5 years in Saudi Arabia.

  • Allcargo Logistics: The LCL volume grew by 5% year-on-year to 746 cubic meters, marking the fourth consecutive month of growth. Meanwhile, the Full-Container-Load volume increased by 14% YoY, reaching 57 TEUs.

  • Edelweiss: The company has clarified that there are exploring options like stake sales in units, listing for enhancing shareholders’ value.

  • KRN Heat Exchanger and Refrigeration: The company acquired an additional stake worth Rs 236 crore in its arm KRN HVAC Products by subscribing to its rights issue.

  • Indian Bank: The bank clarified on reports stating FSIB recommendation of Binod Kumar as MD, CEO that government is yet to notify appointment.

IPO Offering

  • Enviro Infra Engineers: The public issue was subscribed to 12.52 times on day 2. The bids were led by non-institutional investors (34.6 times), followed by retail investors (8.73 times), portion reserved for employees (13.68 times) and Qualified institutional investors (2.5).

Bulk Deals

  • Protean e-Gov Technologies: Setu Securities Pvt. sold 4.15 lakh shares (1.02%) at Rs 1,733.16 apiece, while Ashmit Kabra sold 2.35 lakh shares (0.58%) at Rs 1,720.71 apiece.

  • Alkem Laboratories: UBS Principal Capital Asiasold 9.89 lakh shares (0.82%) at Rs 5,468.99 apiece.

  • BSE: UBS Principal Capital Asia sold 14.08 lakh shares (1.04%) at Rs 4,670.56 apiece.

  • Kalyan Jewellers: UBS Principal Capital Asia sold 72.73 lakh shares (0.7%) at Rs 698.56 apiece.

  • Oberoi Realty: UBS Principal Capital Asia sold 26.16 lakh shares (0.71%) at Rs 1,943.3 apiece.

  • Orient Technologies: Pine Oak Global Fund sold 3.18 lakh shares (0.76%) at Rs 399.69 apiece.

Also Read: C2C Advanced Systems Postpones Listing, Gives IPO Investors Option To Cancel Bid

Insider Trade

  • Snowman Logistics: Promoter Gateway Distriparks bought 40,000 shares on Nov. 21 and promoter Gateway Distriparks bought 4.4 lakh shares on Nov 22.

Pledge Share Details

  • GPT Infraprojects: Promoter GPT Sons revoked a pledge for 1.13 crore shares, Promoter Shree Gopal Tantia revoked a pledge for 11.63 lakh shares, Promoter Atul Tantia revoked a pledge for 11.63 lakh shares, Promoter Anurag Tantia revoked a pledge for 11.63 lakh shares on Nov. 22.

  • Sigachi Industries: Promoter Amit Raj Sinha (Revised) created a pledge for 25 lakh shares on July 16.

Also Read: KRN Heat Exchanger Invests Rs 236 Crore In Subsidiary To Finance Expansion

Trading Tweaks

  • Price band changes from 10% to 5%: Kopran.

  • Price band changes from 20% to 10%: Adani Energy Solutions, Adani Green Energy.

  • Ex/record Rights Issue: UPL (Rights Issue in the ratio of 1:8).

  • Ex/ record dividend: Gillette India, GPT Infrastructure, Dolat Algo, Ganesha Ecosphere, Polyplex Corporation, Sun TV, Kaveri Seeds.

  • Moved into short term ASM: Adani Energy Solutions, Adani Green Energy, Garware Hi-Tech Films, Jash Engineering, KRN Heat Exchanger and Refrigeration, Jindal Poly Investment and Finance.

Who's Meeting Whom?

  • RHI Magnesita: To meet Investors and analysts on Nov. 29.

  • Heritage Foods: To meet Investors and analysts on Nov. 29.

  • Grasim Industries: To meet Investors and analysts on Nov. 26 and 29.

  • Ram Ratna Wires: To meet Investors and analysts on Nov. 29.

  • Five-Star Business Finance: To meet Investors and analysts on Nov. 28.

  • Supreme Petrochem: To meet Investors and analysts on Nov. 29.

F&O Cues

  • Nifty November futures up by 1.74% to 24,301 at a premium of 80 points.

  • Nifty November futures open interest down by 7%.

  • Nifty Options November 28 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 22,500. 

  • Securities in ban period: Aarti Industries, GNFC, Granules.

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.

Also Read: Your Guide To FII Positions For Nov. 26 Trade

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