Stock Market LIVE: Record highs! Sensex soars 1,200 pts; Nifty tests 20,650

ALERT:: Apparel Group inks deal with Shoppers Stop for brand expansion; stock down 1%

Shoppers Stop in an exchange filing said that Apparel Group has inkex an exclusively partnered with Shoppers Stop to expand the presence of one of America’s top fragrance brands – Bath & Body Works into the Indian market.

Steel firms to hike quarterly contract prices after downward revision earlier

Steel companies are set to increase their quarterly automative contract prices after a downward revision July to September. READ MORE

ALERT:: Time Technoplast to sell land worth Rs 26 cr; stock marginally up

Time Technoplast has signed an MOU for selling the land & building located in Southern India for a total consideration of Rs 26.50 crore. The proceeds from these assets will be partly used for reduction of debt and partly towards expansion of existing established and Value-Added Products, the company said in an exchange filing.

ALERT:: SJVN announces commissioning of two units in Uttarakhand; stock up 2%

SJVN in an exchange filing said the company has commissioned both the units of 60 MW Naitwar Mori Hydro Power Station on River Tons, Uttarakhand. With this achievement, the installed generation capacity of the company now stands at 2152 MW.

Inox Wind soars 14% as promoter completes Rs 800 crore fund infusion

Shares of Inox Wind (IWL) hit over seven-year high at Rs 328.20, as they soared 14 per cent on the BSE in Monday’s intra-day trade after the company announced completion of infusion of around Rs. 800 crore (before taxes and fees) into the company by its promoter Inox Wind Energy Limited (IWEL). Read

Modi’s win in state polls seen as boosting case for equity inflow in India

Portfolio managers say the results will ensure policy continuity and lift prospects for the stock market as international investors become more confident in their India allocations ahead of national elections. Jefferies Financial Group Inc. sees cyclical stocks benefiting the most from the outcome of the polls while Nuvama Wealth Management says it has become more confident in the government’s capital expenditure. Read

The black card you need: Best luxury credit cards in India for 2023

Premium credit cards, often referred to as black or purple credit cards, charge a hefty annual fee but offer cardholders a range of exclusive benefits in return. Often viewed as a status symbol, premium cards are only offered to high-earning big spenders. Read

PFC enters club of 50 most valued firms; REC m-cap crosses Rs 1 trn

Shares of state-owend power finance companies were on a roll in Monday’s trade. Power Finance Corporation (PFC) (Rs 386.30) and REC (Rs 393.05) scaled new highs and rallied up to 6 per cent on the BSE on a healthy business outlook. Read

Stock of this OMC has zoomed 54% in 5 weeks; trades at over five-year high

Shares of Hindustan Petroleum Corporation (HPCL) hit over five-year high at Rs 378.90, as they surged 10 per cent on the BSE in Monday’s intra-day trade on the back of heavy volumes. As many as 13 million equity shares of HPCL, on a combined basis, had changed hands on the NSE and BSE till 10:38 AM. Read

L&T Finance Holdings completes merger of 3 of its subsidiaries with itself

L&T Finance Holdings Ltd on Monday announced that it has completed the merger of its three subsidiaries L&T Finance Limited (LTF), L&T Infra Credit Limited (LTICL) and L&T Mutual Fund Trustee Limited, with itself. The company said the merger is effective from December 4 and will create a single lending entity. Read

Chart check: Will Nifty top 25,000-mark before 2024 general elections?

The NSE Nifty has witnessed a strong breakout on the daily and weekly scale following the huge gap-up start of 335 points post a clear verdict in 3 out of 4 state elections in favour of the Bhartiya Janta Party (BJP). Read

Adani group shares rally; Adani Green, Enterprises, Power surge up to 15%

 Investors were enthused by the fact that there were no adverse reports against the Adani group. However, except Adani Power and Adani Port, the rest of the Adani Group stocks have underperformed the market in calendar year 2023 as an unsubstantiated report by the US-based short seller Hindenburg Research resulted in the group’s stock crashing in January. READ MORE

Wired for growth: Strong outlook fuels EMS players’ success circuit

While the outlook remains strong, the operational performance of the major players in the 2023–24 (FY24) July–September quarter (second quarter, or Q2) was subpar. Although revenue growth was robust, margins went south on account of higher costs. The companies in the sector posted 28 per cent revenue growth over the year-ago quarter and 17 per cent on a sequential basis. READ MORE

TCS, Tata Motors, Titan, IHCL: Track key levels for Tata Group stocks

TCS

Upside Potential: 10.3%

 

TCS seems to be placed favourable on the weekly chart, with select momentum oscillators on the verge of turning positive on the monthly scale as well. The weekly chart suggests that the trend is likely to remain positive as long as the stock holds above its 20-WMA (Weekly Moving Average) at Rs 3,436. READ MORE

Will markets extrapolate state poll outcomes to general elections in 2024?

“There is a lot of time between now and the general elections in 2024. The markets may see a short-term boost now, but will soon start focusing on fundamentals. Flows into equity markets – both foreign and domestic – are important and will dictate the market direction. The state poll outcome has already been fairly discounted by the markets post the exit polls last week,” said U R Bhat, co-founder & director at Alphaniti Fintech. READ MORE