STOCK MARKET NEWS
Ola Electric shares surge 7% after Bhavish Aggarwal announces expansion plans
Ola Electric's shares experienced a 6.85% rise as CEO Bhavish Aggarwal announced plans to expand its retail network from 800 to 4,000 stores by December 20, 2024. Despite a sharp decline in November sales, Ola remains the market leader in EVs, amidst intensifying competition with TVS and Bajaj Auto.
Cochin Shipyard shares rally 5% on securing Rs 1,000 crore Defence Ministry contract
Cochin Shipyard share price: Cochin Shipyard shares surged 5% to Rs 1655.75 after the company secured a Rs 1,000 crore contract with the Ministry of Defence for refitting and dry docking a large Indian Naval Vessel. They reported a 4% YoY increase in net profit at Rs 189 crore for Q2 FY25. Revenue rose 13% to Rs 1,143.2 crore.
IPO afterparty of 2024 a dull affair with every second stock in red
The IPO activity in 2024 saw numerous companies debuting with strong investor interest, but nearly half are trading below their listing prices. While Jyoti CNC Automation and others delivered significant returns, overvaluation and lack of post-listing value affected many IPOs. Companies in emerging sectors with strong fundamentals are expected to attract future interest.
Cipla shares in focus on Rs 2,000 crore likely block deal
Cipla's shares are likely to attract attention on Monday as the company's promoters may sell up to a 1.72% stake through block deals. The offer price is expected to be set at Rs 1,442 per share, with the total block size estimated at Rs 2,000 crore.
Stocks in news: Greaves Cotton, Biocon, Tata Motors, Hyundai, Cipla
Markets advanced nearly 1% last week, recording a two-week rally. Focus today includes Greaves Cotton's IPO plan for its subsidiary, Biocon's USFDA approval, Tata Motors' sales rise, and Cipla's block deal stake sale. Eicher Motors' strong sales of Royal Enfield and Cochin Shipyard's defense contract also grab attention.
Tech setups hint Nifty could aim at 25,000
The Nifty index is expected to consolidate within the 23,800 to 24,400 range, with potential upside towards 25,000. Strong support is noted at 23,800. Analysts suggest long-term investors accumulate quality stocks in banking, IT, and realty sectors, while also considering large-cap and midcap stocks for potential gains.
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RIL shares in focus after subsidiary acquires 21% stake in US-based Wavetech Helium
RIL share price: Reliance Industries (RIL) shares will be in focus on Friday after its step-down subsidiary, Reliance Finance and Investments USA LLC, acquired a 21% stake in US-based Wavetech Helium, Inc. for around $12 million. The deal was finalized through a stock purchase agreement signed on November 27, 2024.
PC Jeweller shares in focus as co fixes record date for 1:10 stock split
PC Jeweller share price: PC Jeweller has set December 10, 2024, as the record date for a 1:10 stock split. One share with a face value of Rs 10 will be split into ten shares with a face value of Re 1 each. This move aims to make shares accessible to small investors and enhance market liquidity.
Global funds find bright spots in India despite equity outflows
Overseas investors are identifying opportunities in India despite significant outflows. Notable inflows have been seen in industrials, healthcare, and telecommunication stocks. Prime Minister Modi¡¯s push for manufacturing and increases in telecom prices are contributing factors. Financial stocks have been less attractive due to narrowing margins and asset quality concerns. Overall market trends indicate sector-specific investments are prominent.
HDFC Bank¡¯s m-cap surpasses Rs 14 lakh crore for the first time after stock hits record high
HDFC Bank Share Price: HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after its stock hit a fresh record high of Rs 1,836.05 on the BSE. The market cap peaked at Rs 14,00,710 crore before slipping amid profit-taking in the broader markets. At 11:17 am, shares were trading at Rs 1,808.40, down 0.14%.
Adani stocks surge over 9% as sentiment improves post group's clarification
Adani Enterprises Share Price: The Adani Group clarified that its executives, including Gautam Adani, were not indicted on bribery charges by US authorities but on securities fraud. The US actions caused significant financial and reputational damage, impacting deals and partnerships. While some stocks rebounded, the group faces ongoing scrutiny and reviews from investors and governments.
Waaree Renewable Technologies shares hit 5% upper circuit after securing Rs 1,233.5-crore solar project order
Waaree Renewable Share Price: Waaree Renewable Technologies' stock surged 5% after securing a massive Rs 1,233.5 crore contract to build a 2012.47 MWp DC solar power project. This win follows the company's impressive Q2 FY24 performance, where profits nearly tripled to Rs 53.51 crore. The company's shares have skyrocketed over 200% this year, reflecting growing investor confidence in its renewable energy ventures.
KEC International shares zoom 7% after securing Rs 1,704 crore turnkey orders from Power Grid
KEC International's stock rose after winning a ?1,704 crore order from Power Grid Corporation of India. The deal involves building 765 kV transmission lines and substations, boosting KEC's position in the sector. This adds to their impressive ?16,300 crore order intake this year, a 60% jump.
Stocks in news: Waaree Renewable, Godrej Properties, Vedanta, PCBL, Natco Pharma
Moody's Ratings on Wednesday said it has upgraded the corporate family rating of Vedanta Resources Ltd (VRL), the parent of Vedanta, following its successful liability management exercises.
Market Wrap: Banks, auto stocks lift Sensex 230 points, Nifty above 24,200
Markets closed higher, but Nifty saw mixed action with 25 stocks in the green and 25 in the red. Top gainers included Adani Enterprises, Adani Ports, Bharat Electronics, Trent, and NTPC, while Apollo Hospitals, Titan, Wipro, Shriram Finance, and Hindalco led the losers.
HDFC Bank shares trade near key resistance. What next after a breakout?
After hitting a new all-time high of Rs 1,810 on Tuesday, HDFC Bank shares have slipped and are now hovering around the Rs 1,800 mark. This level has historically been a key resistance zone, with the stock reversing from this region on several occasions.
Stock Radar: 100% rally in a year! Kirloskar Brothers stock showing signs of bottoming out after consolidation
The stock reached a peak of ?2,684 on July 8, 2024, but lost momentum, closing at ?2,212 on November 25, 2024¡ªa decline of over 17%. It found support above the ?2,200 level in September and attempted a recovery, but the rebound was brief as it retested the ?2,200 support in October.
BJP's Maharashtra win puts spotlight on PSU stocks; will momentum sustain till Budget 2025?
The BJP-led alliance's Maharashtra win has renewed interest in PSU stocks, with momentum expected to build ahead of the Union Budget. While 39 of 59 BSE PSU index stocks fell post-June, notable gainers include NALCO (+62%), Mazagon Dock (+49%), and NTPC (+20%). Experts see stock specific trade going ahead unlike a secular rally of the past.
Sagility India shares hit 10% upper circuit after Q2 results
Shares of Sagility India surged 10% to hit the upper circuit at Rs 31.52 on the BSE in Tuesday's trade, following a 30.5% year-on-year (YoY) increase in its adjusted Q2 PAT, which reached Rs 163.6 crore for the July-September quarter.
Fitch takes negative rating actions on Adani Group entities amid US bribery scandal
Fitch has placed several Adani Group infrastructure entities and bonds under negative rating watch, following the indictment of key executives in the U.S. on bribery charges. Entities like Adani Ports, North Queensland Export Terminal, and Mumbai International Airport are at risk of downgrades.
Edelweiss Financial shares jump over 1% on plans to sell minority stake in MF arm
Edelweiss Financial share price: Edelweiss Financial Services' shares rose after the company announced plans to sell a minority stake in its mutual fund business. The firm aims to divest 25-35% for a $600 million valuation, seeking a strategic partner. While appointing an advisor, Edelweiss clarified its commitment to enhancing shareholder value through stake sales or listings, echoing previous statements about value unlocking.
Dev Information Technology announces stock split, stock surges 16%
The board of microcap stock Dev Information Technology approved the subdivision of its shares on Monday, leading to a 16% surge in its share price, reaching a 52-week high of Rs 185 on the BSE.
BPCL, Coal India among 13 Nifty stocks with up to 80% YoY decline in Q2 PAT
Due to weak Q2 earnings, the Nifty reported a 4% year-on-year (YoY) PAT growth in 2QFY25, slightly exceeding the expected 3%, as per a report by domestic brokerage firm Motilal Oswal. This marks the second consecutive quarter of single-digit PAT growth since the pandemic (June 2020).
PSU stocks surge up to 11% as Maharashtra election results boost market sentiment
PSU stocks experienced a strong rally on Monday following the BJP-led Mahayuti alliance's victory in the Maharashtra Assembly elections. Shares of Bank of Baroda, Indian Bank, HPCL, PFC, IRFC, and others surged between 3% and 11%. PSU Railway stocks led the gains, with RITES rising 11%, while PSU Bank stocks like Central Bank of India saw gains of over 8%.
Zomato shares zoom 7% amid Sensex entry, replacing JSW Steel
Zomato's shares surged 7% as it is set to replace JSW Steel in the BSE Sensex, effective December 23. This inclusion follows a year of impressive growth for Zomato, with its stock delivering 130% returns. BSE also announced changes to other indices, adding companies like Jio Financial Services and Adani Green Energy to BSE 100.
HDFC Bank shares jump 2% as it puts Rs 12,000 crore car loans for sale
HDFC Bank's shares rose 2% after the bank finalized the sale of a Rs 12,372 crore car loan portfolio, its second such transaction in two months. This move aims to reduce the bank's high credit-deposit ratio by securitizing the loans and moving them off its balance sheet.
Election outcome, MSCI rejig among 8 factors to likely impact stock markets this week
Nifty closed Friday with a 1.6% weekly gain, boosted by strong bank and IT stocks. On Friday, it ended at 23,907.25, up by 2.39%. As markets reopen on Monday, key domestic and global events are expected to influence movements.
Stocks in news: ZEE, HDFC Bank, HCL Tech, Zomato, RVNL
HDFC Bank is in the final stages of assigning a Rs 12,372 crore car loan portfolio, its second such transaction in two months as the bank seeks to bring down its credit-deposit ratio (CD ratio).
Ahead of Market: 10 things that will decide stock market action on Monday
After a Thursday collapse, Indian equity markets rebounded strongly on Friday helped by buying trends across sectors with IT and bank heavyweights throwing their weights around.
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