Stock Market Today: All You Need To Know Going Into Trade On Nov. 21

Markets in Asia–Pacific were trading on a mixed note as investors assessed the lackluster revenue forecast from Nvidia Corp., one of the magnificent seven. The Nikkei 225 was trading 0.73% down, while the Kospi was 0.12% higher as of 06:32 a.m. The S&P ASX 200 was 0.03% lower.

On Wednesday, the Dow Jones Industrial Average ended 0.32% higher, while the S&P 500 ended flat. The Nasdaq Composite ended 0.11% down.

The January future contract of brent crude was trading 0.68% down at $72.81 a barrel as of 06:35 a.m. The Bloomberg spot gold was 0.21% higher at $2,656.19 an ounce.

The GIFT Nifty was trading 0.13%, or 31 points lower at 23,622.50 as of 06:37 a.m.

Indian financial markets were closed on Wednesday for Maharashtra State Assembly Election.

The Indian equity benchmarks gave up most gains in the last leg of the trade on Tuesday as risk–off sentiment rose after Ukraine carried out strikes deep inside Russia with western non–nuclear missiles.

Despite giving up gains, the NSE Nifty 50 snapped a seven–session losing streak. While the BSE Sensex reversed a four-session loss. The Nifty 50 ended 64.70 points, or 0.28%, higher at 23,518.50. The Sensex ended up 239.38 points, or 0.31%, at 77,578.38.

Earlier in the day, the Nifty 50 rose as much as 1.39% to 23,780.65, and the Sensex rose 1.44% to 78,451.65. Both the indices posted their biggest intraday gains since Sept. 20.

Overseas investors remained net sellers of Indian equities for the 36th consecutive session on Tuesday, while domestic institutional investors stayed net buyers.

Foreign portfolio investors sold stocks worth Rs 3,411.7 crore, according to provisional data shared by the National Stock Exchange. The domestic institutional investors mopped up stocks worth approximately Rs 2,783.9 crore.

• Tata Power: The company entered into a strategic partnership with Druk Green Power Corpo, a subsidiary of Druk Holding and Investments Ltd., the sole generation utility of Bhutan, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan.

• PSP Projects: The company executed a share purchase agreement between promoter Prahaladbhai S. Patel and Adani Infra, whereby Adani Infra will be acquiring up to a 30.07% stake from the promoter for Rs 685 crore. Adani Infra makes an open offer for the acquisition of up to 1 crore shares at Rs 642.06 per share.

• NLC India: The company is to make an investment of up to Rs 3,720 crore for various renewable projects in the arm, subject to compliance with DIPAM guidelines and necessary approvals of the Ministry of Commerce and other departments as may be required.

• JSW Steel: The company declared as the preferred bidder for the Codli mineral block in Goa. The projected iron ore resources are at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps.

• Aegis Logistics: The company’s arm, Aegis Vopak Terminals, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. The IPO consists of a fresh issue of Rs 3,500 crore.

• Bajaj Auto: The RBI disposed of the FEMA matter over KTM investment on payment of Rs 2.2 crore compounding amount. The compounding amount imposed in the case of the inadvertent ODI-FDI structure over the company's investment in KTM in 2012.

• Bharti Airtel: Nokia received a 5G extension deal from the telco for India operations.

• PowerGrid: The company has been selected as the successful bidder for acquiring Khavda V-A Power Transmission to establish a transmission system for evacuation of power from potential renewable energy zones in the Khavda area of Gujarat for Rs 18.95 crore.

• Mahindra & Mahindra: The company clarified that its collaboration with the Volkswagen Group remains intact and continues to explore multiple opportunities for expanding their partnership.

• Garden Reach Shipbuilders and Engineers: The firm signed a contract with the West Bengal government for the delivery of 13 hybrid ferries for Rs 226 crore.

• Kilburn Engineering: The company executed a share purchase agreement with Monga Strayfield for the proposed acquisition of a 100% stake in Monga Strayfield for Rs 123 crore.

• Power Finance Corp: The company transfers its arm PFC Consulting to Adani Energy Solutions for Rs 18.78 crore.

• Godfrey Phillips: The company declared an interim dividend of Rs 35 per share.

• Medplus Health: The company’s arm received five suspension orders of drug licenses for stores in Pune.

• LIC: Maharashtra GST authority reduced tax demand for fiscal 2020 to Rs 75 crore, including interest and penalty.

• Britannia Industries: The company received notice from FSSAI over the use of a preservative in one batch and prohibition of its sale.

• Godrej Properties: The company acquired a 53-acre plot of land in Joka, Kolkata, that offers development potential of ~1.3 mn sq ft of residential plotted development and an estimated revenue potential of Rs 500 crore.

• UPL: The board approves raising up to Rs 3,380 crore via a rights issue in the ratio of 1 share for every 8 held at Rs 360 apiece. The rights issue will open on Dec. 5 and close on Dec. 17.

• Godawari Power: To acquire a 51% stake in Jammu Pigments at a post-money valuation of Rs 500 crore.

• Gujarat Narmada Valley: The company signed an MoU with the UK's INEOS for a 50-50 joint venture for the construction and operation of an acetic acid plant in India.

• Indus Towers: The company said the Supreme Court's decision allowing tax credit claims for towers and related infra will reduce contingent liability by Rs 3,704 crore.

• NTPC Green Energy: The public issue was subscribed 0.33 times on day 1. There were no bids by qualified institutional investors, while non-institutional investors subscribed (0.16 times), followed by retail investors (1.33 times), portion reserved for employees (0.17 times), and portion reserved for shareholder (0.57 times).

• Trent: Dodona Holdings sold 13.02 lakh shares (0.36%) at Rs 6475 apiece, while Siddhartha Yog bought 13.02 lakh shares (0.36%) at Rs 6475 apiece.

• Sastasundar Ventures: Luv-Kush Projects bought 3.47 lakh shares (1.09%) at Rs 291 apiece, Microsec Vision Trust One sold 3.47 lakh shares (1.09%) at Rs 291 apiece.

• Bigbloc Construction: Promoter Narayan Sitaram Saboo bought 61,500 shares on Nov. 18.

• Price band changes from 20% to 10%: Honasa Consumer, Kopran.

• Ex/ record dividend: GMM Pfaudler.

• Moved into short term ASM: Nalwa Sons Investments.

• Moved out short term ASM: Kross.

• Le Travenues Technology: To meet Investors and analysts on Nov. 27.

• Aavas Financiers: To meet Investors and analysts on Nov. 25 and 26.

• KPIT Tech: To meet Investors and analysts on Nov. 25 and 26.

• Five-Star Business Finance: To meet Investors and analysts on Nov. 22.

• Indian Energy Exchange: To meet Investors and analysts on Nov. 21.

• Can Fin Homes: To meet Investors and analysts on Nov. 22.

• Nifty November futures down by 0.1% to 23,534 at a premium 16 points.

• Nifty November futures open interest down by 5.22%.

• Nifty Options November 21 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 23,000. 

• Securities in ban period: Aarti Industries, Aditya Birla Fashion Retail, GNFC, Granules, Hindustan Copper, IGL.

The Indian rupee closed at a fresh closing low after depreciating to an all-time low of Rs 84.42 during the session on Tuesday, amid foreign fund outflows and RBI intervention.

The local currency closed two paise lower at Rs 84.41, according to Bloomberg data. It had closed at Rs 84.39 on Monday.