Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
NTPC Green Energy will list on stock exchanges today.
NTPC Green Energy’s IPO price band is fixed Rs 102-108 per share. The IPO was open between 19th to 22 November 2024. It subscribed 2.42 times.
Stocks to Watch:
Siemens’ consolidated net profit jumped 45.4% to Rs 830.70 crore on 11.4% increase in revenue from operations to Rs 6,373.60 crore in Q4 FY25 over Q4 FY24.
Wipro has announced the extension of its work with Marelli, a global leader in automotive solutions, for an additional four years.
Aster DM Healthcare entered into agreement with Aster Adhaar Hospital (Prerana Hospital) to acquire additional 13% stake in Aster Adhaar Hospital (Prerana Hospital) in Kolhapur, Maharashtra.
Adani Enterprises’ subsidiary, Adani Airport Holdings’ (AAHL) joint venture April Moon Retail (AMPRL) has completed the contemplated acquisition of 74% stake of Cocount Ventures (CVPL) and thereby CVPL becomes joint venture of AAHL and the Company.
NTPC’s subsidiary, incorporated Mahagenco NTPC Green Energy as a 50:50 joint venture with the Maharashtra government for development of renewable energy projects.
Exide Industries made an additional investment of Rs 100 crore in its subsidiary, Exide Energy. The total investment stood at Rs 3,052 crore.
Lumax Auto Technologies has acquired 60% stake in Greenfuel Energy Solutions for Rs 153 crore via Lumax Resources to foray into green and alternate fuels segment.
At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 419.44 points or 0.52% to 80,444.69. The Nifty 50 index rose 128.75 points or 0.53% to 24,323.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index added 0.91%.
The market breadth was strong. On the BSE, 2,447 shares rose and 1,326 shares fell. A total of 161 shares were unchanged.
Gainers & Losers:
Adani Enterprises (up 10%), Adani Ports and Special Economic Zone (SEZ) (up 7.77%), Trent (up 2.94%), Bharat Electronics (BEL) (up2.84%) and NTPC (up 2.56%) were the major Nifty gainers.
Apollo Hospital Enterprise (up 1.37%), Shriram Finance (up 0.37%), Titan Company (up 0.68%), Asian Paints (up 0.64%), Britannia Industries (up 0.60%) were major Nifty losers.
NTPC added 2.56% after the company announced the incorporation of a joint venture company between NTPC Green Energy (NGEL) and Maharashtra State Power Generation Company (MAHAGENCO).
MAHAGENCO NTPC Green Energy (MNGEPL) has been incorporated as 50:50 joint venture between NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, and Maharashtra State Power Generation Company (MAHAGENCO), a Government of Maharashtra (GOM) owned company.
Stocks in Spotlight:
Bajaj Steel Industries shed 0.05%. The company said that it has successfully commenced commercial operation at its new plant at Nagpur for pre-engineered/pre-fabricated steel buildings (infrastructure division).
Sky Gold locked lower circuit of 5%. The company informed that its board approved the issuance of bonus equity shares in the proportion of 9:1 i.e., 9 bonus equity shares for every 1 existing equity share held.
Rail Vikas Nigam (RVNL) advanced 1.24% after the company received a letter of acceptance (LoA) for an Engineering, Procurement and Construction (EPC) contract worth Rs 625.08 crore from South Central Railway.
Zaggle Prepaid Ocean Services hit an upper circuit of 5% after the company has entered into an agreement with Mastercard Technology (MasterCard) for 7 years.
CG Power and Industrial Solutions rallied 3.63% after the company’s subsidiary G.G.Tronics India (GGT) secured a KAVACH order from Chittaranjan Locomotive Works, West Bengal, Government of India
Talbros Automotive Components zoomed 11.98% after the company, along with its JV’s, received orders worth Rs 475 crore for both domestic and exports market from the leading OEM’s. These orders are to be executed over the period of next 5 years. These orders include orders from all the company’s product lines like gaskets, heat shields, forging components, chassis and hoses.
Global Market:
Most of the European market decline while Asian stocks traded mixed on Wednesday amid lingering concerns over Donald Trump’s tariff plans, which had rattled emerging markets in the previous session. Speculation about the role tariffs would play in the president-elect's economic agenda intensified as reports surfaced that Jamieson Greer, a protégé of Robert Lighthizer, was being considered for US Trade Representative. This selection underscores the administration’s focus on protectionist trade policies.
In Australia, the consumer price index (CPI) inflation grew by 2.1% year-on-year in October, falling short of expectations due to government subsidies that helped reduce energy costs. However, core inflation, represented by the annual trimmed mean inflation, rose to 3.5% in October from 3.2% the previous month, pushing further above the Reserve Bank’s target range.
US stocks advanced on Tuesday, as strength in technology shares counterbalanced worries about potential tariff escalations under Donald Trump’s administration. The S&P 500 climbed 0.57%, the Dow Jones Industrial Average rose 0.28%, and the NASDAQ Composite gained 0.63%.
Among the Magnificent Seven tech stocks, five closed higher, led by Amazon.com Inc., which surged over 3%. The rally followed reports from Bloomberg that Amazon plans to reduce its reliance on NVIDIA Corporation by developing its own custom artificial intelligence chips.
Investors also weighed mixed signals on U.S. interest rates. Minutes from the Federal Reserve’s November meeting revealed a split among policymakers regarding the path of future rate cuts. They highlighted uncertainty about the 'neutral rate,' a level that neither stimulates nor restricts economic growth, as a key factor for their cautious stance.
At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 201.92 points or 0.26% to 79,900.44. The Nifty 50 index lost 52.75 points or 0.22% to 24,169.15.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index gained 0.35% and the S&P BSE Small-Cap index added 0.50%.
The market breadth was positive. On the BSE, 2,213 shares rose and 1,595 shares fell. A total of 152 shares were unchanged.
Britannia Industries (up 2.14%), Shriram Finance (up 1.93%), Asian Paints (up 1.90%), Infosys (up 1.86%), Bharat Electronics Limited (BEL) (up 1.83%) were major Nifty gainers.
Adani Enterprises (down 4.41%), Adani Ports (down 3.59%), Ultratech Cement (down 2.86%), Bajaj Auto (down 2.68%), Mahindra & Mahindra (down 2.45%) were were top Nifty losers.
Power Grid Corporation of India fell 0.90%. The company said it has been selected as the successful bidder for the transmission project to evacuate 3.5 GW of power from Rajasthan Renewable Energy Zones (REZ).
Hindustan Unilever rose 0.41%. The company’s board approved the demerger of its ice-cream business into an independent listed entity and incorporation of a wholly owned subsidiary for the proposal. The firm proposed that the shareholders of HUL will receive shares in the new entity in proportion to their shareholding in HUL, subject to necessary approvals and procedures.
Zomato added 1.43% after the company’s board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 265.91 per share.
Further, the food delivery company informed that it has received communication regarding liquidation of Zomato Internet LLC (ZIL), a step down subsidiary of Zomato effective from 20 November 2024.
Vodafone Idea spurts 11.17% after the Union Cabinet reportedly approved the waiver of bank guarantees (BGs) for spectrum purchased before 2022.
Acme Solar Holdings declined 2.13% after the company’s consolidated net profit declined 60.4% to Rs 15.30 crore on 19.7% fall in revenue from operations to Rs 259.59 crore in Q2 FY25 over Q2 FY24.
Akums Drugs and Pharmaceuticals declined 1.84%. The company said that its wholly owned subsidiary Maxcure Nutravedics has entered into a collaboration agreement with Jagdale Industries for marketing of ready-to-drink nutritional beverages.
L&T Finance (LTF) shed 0.82%. The company announced a multi-year strategic partnership with Amazon Finance India to develop innovative credit solutions aimed at enhancing affordability for Amazon's eligible customers and merchants
The New India Assurance Company jumped 4.46% after the firm informed that it will receive refund of Rs 1,945.08 crore including interest from the Income Tax Department for assessment years 2013–14 to 2019-20.
LT Foods rose 1.84% after the FMCG company announced an expansion into Saudi Arabia with new office in Riyadh, aiming to tap $2 billion rice and rice-based food markets in Kingdom of Saudi Arabia (KSA).
Bharat Global Developers (BGDL) was locked in upper circuit of 5% after the company announced that it has secured a significant order worth Rs 156 crore from UPL Agro, a leading player in the agricultural sector.
Kwality Pharmaceuticals advanced 1.53% after the company announced that it has successfully received domestic and export product approvals for the manufacturing and sale of its biological product, PEGylated-Asparaginase.
Global market:
European market and Asian stocks declined on Tuesday following U.S. President-elect Donald Trump's announcement of proposed tariffs on China, Mexico, and Canada.
Trump stated on his Truth Social platform that he plans to implement a 10% tariff on goods from China and a 25% tariff on imports from Mexico and Canada. He cited the need to address issues of illegal migration and drug trafficking across U.S. borders.
Key U.S. economic data is due this week, with the Federal Reserve releasing the minutes from its latest FOMC meeting on Tuesday and U.S. GDP data expected on Wednesday.
On Monday, U.S. stock benchmarks hit record highs. The Dow Jones Industrial Average rose 1%, the S&P 500 gained 0.3% to close at 5,987.40, and the NASDAQ Composite advanced 0.27% to 19,054.84. Markets were buoyed by the nomination of Scott Bessent as Treasury Secretary, continued flows into cyclical sectors, and reports of a potential ceasefire between Israel and Lebanon, which drove oil prices lower.
Investors are also awaiting the PCE Price Index, the Federal Reserve's preferred inflation measure, later this week. Trading volumes are expected to remain light due to the Thanksgiving holiday.