Most Asian markets were higher ahead of the release of key economic data from various regions. At 7:18 a.m., Japan’s Nikkei was the only index that fell by 0.4%. Australia’s ASX 200 rose 0.3%, China’s CSI 300 was up 0.5%, and South Korea’s Kospi added 0.2%.

US stock indices ended higher in a short Black Friday session as technology stocks rose. The Dow Jones Industrial Average and S&P 500 ended 0.42% and 0.52% higher, respectively. The Nasdaq Composite ended 0.52% higher.

At 7:21 a.m., GIFT Nifty was at 24,362.00, down by 37.5 points or 0.15%.

India’s benchmark equity indices gained for a second consecutive week, adding nearly 3% in two weeks. Share prices of Adani Enterprises Ltd. and Bharat Electronics Ltd. added over 10% this week.

On Friday, both the indices recovered from their steep falls in the previous session as Bharti Airtel Ltd. and Reliance Industries Ltd. shares contributed the most.

The Nifty ended 0.91% or 216.95 points higher at 24,131.10 and Sensex closed 0.96%, or 759.05 points up at 79,802.79.

Overseas investors remained net sellers of Indian equities for the second consecutive day on Friday, while the domestic institutional investors remained net buyers for the third consecutive session.

The FPIs offloaded stocks worth approximately Rs 4,383.6 crore, and the DIIs bought shares worth approximately Rs 5,723.3 crore, according to provisional data by the National Stock Exchange.

The Indian rupee closed flat at 84.49 against the US dollar.

Stocks To Watch

  • Cipla: The promoters aim to raise Rs 2,000 crore through share sales. Samana and Rumana Hamied plan to sell approximately 1.4 crore shares on Monday, with the floor price set at Rs 1,442 per share.

  • Aster DM Healthcare: The company and Blackstone- and TPG-backed Quality Care India Ltd. will merge through a share-swap agreement to become India’s number 3 hospital operator. Based on the agreed swap ratio, Aster shareholders will hold 57.3%, and QCIL shareholders will hold 42.7% in the merged entity, which will be named Aster DM Quality Care Ltd. and led by the Moopen family.

  • Rail Vikas Nigam: The company has emerged as the lowest bidder from PSCL for infra projects worth Rs 643 crore in Punjab.

  • Niva Bupa Health Insurance Co.: The company received a communication from an unidentified source claiming to have access to customer data. In response, the company has launched an investigation into the threat and is conducting an information security and impact assessment with the help of independent experts.

  • KEC International: The company has secured Rs 1,040 crore order in its transmission and distribution business in the international markets.

  • RBL Bank: The bank and Bajaj Finance have mutually agreed to discontinue the issuance of new co-branded cards. However, the existing co-branded cards issued to date will continue to function as usual without any changes.

  • Restaurant Brands Asia: Sameer Patel, the chief financial officer and KMP, has stepped down from his position.

  • Adani Green Energy: Adani Saur Urja has incorporated a wholly owned subsidiary, Adani Hydro Energy Four.

  • Oil & Natural Gas Corp.: The company has successfully acquired a 0.615% participating interest in the Offshore Azeri Chirag Gunashli field in Azerbaijan from Equinor. This acquisition also includes a 0.737% stake in the Baku-Tbilisi-Ceyhan pipeline company through its wholly owned subsidiary, ONGC BTC. The total investment for this acquisition amounts to approximately $60 million.

  • Inox Green Energy Services: The company divested an entire stake in arm Nani Virani Wind Energy to IGREL Renewables.

  • Reliance Infrastructure: The company’s arm, Reliance Velocity, has incorporated two subsidiaries: Reliance Perfect EV and Reliance Pure EV.

  • RailTel Corp.: The company has received a work order worth Rs 10 crore from Northern Railway for cloud service for railway board.

  • Indian Bank: The company hiked its MCLR across tenures by 5 basis points.

  • Inox Wind: The board has approved the re-appointment of Kallol Chakraborty as the whole-time director effective from Dec 3.

  • Ashok Leyland: Hinduja Tech, a subsidiary of the company, has completed the acquisition of the Tecosim group.

  • UltraTech Cement: The company has completed debottlenecking at its integrated unit in Chhattisgarh, increasing its capacity by 0.6 MTPA to 3.3 MTPA. With this addition, the company’s total cement capacity, including overseas capacity, now stands at 156.66 MTPA.

  • Dixon Technologies (India): The company’s arm, Padget Electronics, has entered into a contract manufacturing agreement with Compal Smart Device India for the production of mobile phones. Under this agreement, Padget Electronics and Compal will begin mass production of Google Pixel.

  • Sterlite Technologies: The arbitral tribunal has awarded Rs 15.9 crore in favour of the company in its dispute with MTNL.

  • Narayana Hrudayalaya: The board has approved a scheme for the amalgamation of its subsidiary, Meridian Medical Research, into the company.

  • Greaves Cotton: The company has announced the appointment of Neeraj Sharan as its new executive director and chief executive officer.

  • The Phoenix Mills: Phoenix Logistics and Industrial Parks has entered into an agreement with Macrotech Developers to sell its ownership of Janus to Macrotech Developers for Rs 47.9 crore.

  • Adani Enterprises: The company’s arm Adani Airport Holdings acquired 99% of the stake in Aviserve Facilities and Aviground Facilities.

  • Coal India: The board has approved an increase in the add-on price of coal for the Rajmahal area of Eastern Coalfields, raising it to Rs 700 per tonne from Rs 450 per tonne, effective from Nov. 30. As a result, the company’s arm, Eastern Coalfields, is expected to generate approximately Rs 300 crore in additional annual revenue.

  • GRP: The company has signed a loan agreement with France-based Proparco for a secured senior credit facility of up to €15 million.

  • Adani Green Energy: The company has decided to defer dollar bond sales until the April-June period. Adani Group companies may conduct three-four local public bond sales within the next nine to 12 months.

  • DLF: The company’s aim is to sell Kolkata IT Park for Rs 637 crore to RDB Primarc Techno Park LLP.

  • GP Petroleums: The company has signed a supply agreement with Hindustan Petroleum Corp. for the provision of Bulk Bitumen-VG30, meeting IS 73-2013 standards, at various locations as needed by HPCL.

  • Coromandel International: The Raigad customs department has raised a demand of Rs 7.3 crore for the IGST exemption claimed by the company and imposed a fine of Rs 3.9 crore, along with interest on the IGST amount.

  • Patel Engineering: A wholly owned subsidiary, Pel Nirmana, has been incorporated in Nepal.

  • Macrotech Developers: The company has acquired 100% stake in Janus Logistics and Industrial Parks for Rs 48 crore.

IPO Offering

  • Suraksha Diagnostic: The public issue was subscribed to 0.11 times on day 1. There were no bids were led by qualified institutional investors, non-institutional investors (0.04 times), retail investors (0.2 times).

Bulk deals

  • Tourism Finance Corp: Aditya Kumar Halwasiya bought 5 lakh shares (0.53%) at Rs 179.41 apiece.

Pledge share details

  • Wardwizard Innovations & Mobility: Promoter Yatin Sanjay Gupte created a pledge for 37.5 lakh shares on Nov. 26.

Trading Tweaks

  • Price Band revised 10% to 5%: Sagility India.

  • Moved into short term ASM: Adani Total Gas, Ola Electric Mobility,

  • Moved out short term ASM: Honasa Consumer, Kalyani Forge.

Who’s Meeting Whom?

  • HDFC Bank: To meet Investors and analysts on Dec. 4.

  • KIMS: To meet Investors and analysts on Dec. 5.

  • ACE: To meet Investors and analysts on Dec. 6.

  • Afcons Infra: To meet Investors and analysts on Dec. 4, 5.

  • Indian Energy Exchange: To meet Investors and analysts on Dec. 2, 4 and 5.

  • GMR Airports Infra: To meet Investors and analysts on Dec. 5.

F&O Cues

  • Nifty November futures up 0.84% to 24,318 at a premium of 187 points.

  • Nifty November futures open interest down 2%.

  • Nifty Options Dec. 5 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 23,500. 

  • Securities in ban period:  Nil

Money Market

The Indian rupee closed flat against the US dollar on Friday, trading at 84.49. The domestic currency had hit a fresh low of 84.5038 during the day on Thursday, reflecting ongoing volatility in the foreign exchange market.

The rupee had opened weak by 5 paise on Wednesday at 84.39 against the US dollar and remained under pressure, primarily due to persistent dollar demand.

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