Closing Bell : On expiry day, the Sensex rises and the Nifty rises above 20,100; pharma and real estate sparkle. Nov-30

Closing Bell:– UltraTech Cement, HDFC Life, Sun Pharma, SBI Life Insurance, and Eicher Motors were among the top Nifty gainers, while IndusInd Bank, Adani Enterprises, Adani Ports, LTIMindtree, and Power Grid Corporation were among the top losers.

Closing Bell: Sensex gains 86 points, closed at 66,988 level: While Nifty closed at 20,133 level.

 Indian Market 

FII AND DII 

Stock Market News

1. The BSE Auto index rose 0.5 percent, led by Eicher Motors, Hero MotoCorp, and M&M:
2. The Nifty Pharma index rose 1%, driven by Alkem Laboratories, Divis Laboratories, and Lupin:
3. The BSE Capital Goods index increased by 0.6 percent, driven by BHEL, Thermax, and Praj Industries:
4. Vascon Engineers’ board of directors has approved a fund raising of up to Rs 125 crore via QIP.
5. Motherson Sumi climbs 1.8% after a massive block sale; around 1.19 million shares changed hands in a wave of deals.
6. The Enforcement Directorate (ED) conducts raids at J&K Bank in connection with a Rs 250 crore money laundering case.
7. Thomas Cook India is down 5% on the announcement of a stake sale by Prem Watsa’s Fairbridge Capital.
8. Morgan Stanley Asia selects a 5% investment in Zomato. Alipay Singapore Holding is no longer in business.
9. Tata Tech more than doubles investors’ wealth by listing at a 140% premium to the IPO price.
10. Gandhar Oil Refinery goes public at a 75% premium to its IPO price.
11. Truecaller and Tata Tele Business Services collaborate:
12. The Man Infraconstruction Board of Directors has approved a Rs 550 crore preferential issuance to raise funds.
13. The RBI has approved SBI MF’s acquisition of up to 9.99% of Karur Vysya Bank.
14. Fairbridge Capital will sell an 8.5% stake in Thomas Cook through OFS on November 30th and December 1st.
15. Confidence Petroleum has approved the issuance of 2 crore preferential shares at Rs 88.6 per share.
16. The government is seeking new proposals from IDBI Bank asset valuers.
17. The NSE and BSE approve ICICI Bank’s request to delist ICICI Securities shares.
18. On November 30, Bank of Baroda will issue bonds worth up to Rs 5,000 crore.

     INDIAN MARKET MOVERS 

News Updates

• Equities gain while Treasury yields fall on data, talk of Fed rate cuts

  MSCI’s global equities index gained slightly on November 29 as third quarter data showed a 5.2% annualized GDP growth, marking the fastest pace of expansion since the fourth quarter of 2021. The Commerce Department data also confirmed inflation was trending lower, with slight downward revisions to measures watched by the Fed for monetary policy, suggesting a Goldilocks scenario. Talk of Fed rate cuts is also circulating.

   

• India’s female unemployment fell to 8.6% in Q2, but quality of jobs a concern

  The female unemployment rate in urban India decreased by 50 basis points to 8.6% in July-September, while their Labour Force Participation Rate rose by 80 basis points to 24.0%. However, concerns remain about the quality of jobs they are getting into. The government’s latest Periodic Labour Force Survey showed that the percentage of females employed in casual labour increased to 6.9% from 6.8% in Q1 2023-24, while the proportion of females with salaried jobs fell to 52.8%.

   

• Byju’s says ED notice flags delay in filing annual reports, queries technical in nature

  Byju’s, an edtech company, has claimed that the Enforcement Directorate’s notice to the company is restricted to technical issues like late filing of annual reports and does not relate to any financial wrongdoing, such as foreign exchange violations. The company has clarified that the probe agency has not claimed any penalties for the technical queries in its notice, and any fines that arise could be as little as a few thousand rupees. Byju’s anticipates that the fines, if any, will be nominal, as the Late Submission Fee for such reporting delays can be imposed under RBI regulations. The company’s parent entity, Think and Learn Private Limited, and founder Byju Raveendran have been confirmed to have received a show cause notice in the FEMA violation case.

   

• Blockbuster listing | IREDA locked in upper circuit at Rs 60 on robust demand

  The Indian Renewable Energy Development Agency (IREDA) experienced a significant 87% surge in its market debut on November 29, thanks to strong market conditions, healthy IPO subscription figures, and expected growth in the renewable energy sector. The government-owned firm’s market capital nearly doubled to Rs 16,124 crore. The stock listed at a higher-than-expected price of Rs 50 on the National Stock Exchange, up 56% from the issue price of Rs 32. As the day progressed, the stock gained strength to hit Rs 60, 20% higher than the listing price and its upper circuit limit.

   

• Bank of Baroda to issue bonds up to Rs 5,000 cr on November 30

  Bank of Baroda is set to issue bonds worth Rs 5,000 crore on November 30, with a base size of Rs 1,000 crore and an over subscription of Rs 4,000 crore. The bonds will mature in 10 years or on December 1, 2033. Bidding for these bonds will take place on the National Stock Exchange of India’s electronic platform between 11 am and 12 pm, with the pay-in date being December 1, marking the exchange of bonds and funds between the issuer and investors.

   

• US-based Foot Locker signs licensing agreement with Metro Brands, Nykaa Fashion

  Foot Locker, a New York-based athletic retailer, has signed a long-term licensing agreement with Metro Brands Limited (MBL) and Nykaa Fashion. MBL will have exclusive rights to own and operate Foot Locker stores in India and sell authorized merchandise. Nykaa Fashion will operate Foot Locker’s India website and retail authorized merchandise on Nykaa’s existing e-commerce platforms. The sneaker segment in India is projected to reach 66 million pairs by 2028, aiming to capitalize on the growing demand and fashion industry in the country.

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Read more Checkingell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell latest news  fClosing Bell tyClosing Bell above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks

Force Motors announces August production of 3,032 automobiles. 

Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.

Hitachi Energy India rises nearly 4% after receiving an order.

Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.

Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.

Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.

Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.

Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e

Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.

Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.

CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.

PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.

L&T rises on rumours of a possible order from Saudi Aramco for a gas project.

Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit

Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.

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