Analysis Financial News

SRF Ltd. 0.86 per cent to Rs 2251.00 at 10:43AM (IST) in Wednesday's trade. The stock hit a high of Rs 2275.00 and low of Rs 2224.70 so far during the session. The stock had closed at Rs 2231.80 in the previous session. The counter had a total traded volume of 10:43AM shares so far with a turnover of Rs 0.31 crore on BSE. The stock traded at a price-to-earnings multiple of 59.20 and a price-to-book ratio of 6.63.

Ashapura Minechem Ltd.(up 5.58%), Madhav Marbles & Granites Ltd.(up 2.43%), KIOCL Ltd.(up 2.33%), Oriental Trimex Ltd.(up 1.99%), Sandur Manganese & Iron Ores Ltd.(up 1.64%), MOIL Ltd.(up 1.47%), Gujarat Mineral Development Corporation Ltd.(up 1.37%), Coal India Ltd.(up 1.32%), Pokarna Ltd.(up 1.01%) and The Orissa Minerals Development Company Ltd.(up 0.71%) were among the top gainers.

Cholamandalam Investment & Finance Company Ltd. 1.37 per cent to Rs 1282.05 at 10:47AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 8,643 shares with a turnover of Rs 1.10 crore till 10:47AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 27.96, while the price-to-book value ratio stood at 4.96.

Hyundai Motor India shares rose by nearly 2% to the day's high of Rs 1,926 on the BSE after Morgan Stanley and JPMorgan initiated coverage. JPMorgan and Morgan Stanley have initiated coverage on the automaker with an overweight rating, citing its strong growth potential, strategic positioning in the SUV and electric vehicle (EV) segments, and promising valuation metrics.

Adani Energy Solutions Ltd.(up 5.11%), GMR Power and Urban Infra Ltd.(up 5.00%), Adani Power Ltd.(up 4.44%), Ravindra Energy Ltd.(up 4.39%), Gujarat Industries Power Company Ltd.(up 4.17%), Energy Development Company Ltd.(up 4.03%), Jyoti Structures Ltd.(up 3.59%), Indowind Energy Ltd.(up 3.31%), Reliance Power Ltd.(up 3.01%) and Jaiprakash Power Ventures Ltd.(up 2.71%) were among the top gainers.

HDFC Bank, M&M, and Infosys were offset by losses in Reliance Industries and Bharti Airtel. The BSE Sensex was trading 14 points, or 0.02%, lower at 79,992. The Nifty50 was down 18 points, or 0.08%, trading at 24,175 around 9:25 am.

Anand Rathi has a buy call on Astral with a target price of Rs 2,666. The current market price of Astral is Rs 1,805. Astral, incorporated in 1996, is a Mid Cap company with a market cap of Rs 48387.78 crore, operating in the Plastics sector. Astral's key products/revenue segments include Plastic Products and Other Operating Revenue for the year ending 31-Mar-2024.

Thanksgiving and Black Friday, widely regarded as indicators of consumer sentiment and economic vitality, the BSE Sensex — India's benchmark stock index — reflects a mixed reaction to these events over the years. While Thanksgiving Day has shown a tendency to uplift Indian equities, Black Friday often tells a different story, marked by heightened volatility and caution.

Vodafone Idea topped the list of India Inc's largest loss-making company in Q2 with a loss of Rs 7,176 crore. NBFC Sammaan Capital, which was earlier known as Indiabulls Housing Finance, reported the second largest loss pile of Rs 2,761 crore. PSU fuel retailer Indian Oil's Q2 loss was also more than Rs 1,100 crore.

It’s voting day in Nova Scotia as people head to the polls to cast their ballots.

Emerging markets are in for a tough and uncertain year due to policy shifts in the United States and uncertain growth in China, JPMorgan said in its annual outlook, predicting emerging markets bond funds were in line for sizeable outflows. «EM growth faces significant uncertainty in 2025, caught between two giants — China and the U.S. — with policy changes in the latter potentially delivering a large negative supply shock that will have spillovers across EM,» JPMorgan said on Tuesday.

Bitcoin hit a record high of $99,830 on Nov. 22, but it has since fallen more than 8% to a one-week low of 91,377.32 on Tuesday.

Federal Reserve officials appeared divided at their meeting earlier this month over how much farther they may need to cut interest rates, but as a group agreed to avoid giving much guidance from here on about how U.S. monetary policy is likely to evolve. There was uncertainty about the direction of the economy, Fed officials noted, according to the minutes of the Nov. 6-7 meeting, uncertainty about just how much the current level of interest rates was doing to restrict the economy — a key issue in deciding how much further rates should fall — and a developing case to step carefully.

Stocks in Asia saw a muted open after Donald Trump’s tariff plan roiled emerging markets in the previous session. Equities opened higher in Sydney, while dipping in Tokyo and Seoul. US equity futures were little changed after the S&P 500 rose for a seventh day to notch its 52nd record this year. A Bloomberg gauge of the dollar slipped 0.1%, paring some of its strength seen on Tuesday that pressured the Mexican peso and Chinese yuan, among others.

Federal Reserve rate cut next month.

The New Zealand dollar rose after the Reserve Bank of New Zealand cut benchmark rates by 50 basis points to 4.25% while noting that inflation had declined to near the mid-point of its targeted range.

Sebi on Tuesday modified its interim order prohibiting Axis Capital Ltd from engaging in any transactions in the debt segment that involve providing credit risk cover, guarantees and indemnities for the purchase of pledged shares until further notice. Sebi, in its interim order in September, prohibited Axis Capital from undertaking new assignments as a merchant banker, arranger, or underwriter for debt securities until further notice. The matter pertains to Axis Capital Limited (ACL) allegedly violating Merchant Bankers (MB) Regulations in connection with non-convertible debentures (NCDs) issued by Sojo Infotel Pvt. Ltd.

Revenue rose by 11 per cent to Rs 5,894 crore in the quarter from Rs 5,297 crore in the same period a year ago.

PSU stocks and D-Street experts see this momentum to continue in the run-up to next year's Union Budget. While valuations still remain a concern for many, the road ahead is likely to be stock specific, they say, arguing that the recent correction is offering pockets of opportunities to make entry in the state-run company stocks. An analysis of the 59-stock BSE PSU index reveals 39 stocks that have witnessed a decline since June 4, the day when the general election results were announced. In this, 30 have fallen in double digits. The worst losers are Bharat Dynamics, Cochin Shipyard, Ircon International, Mangalore Refinery And Petrochemicals (MRPL), falling between 39% and 20% as on November 22 (a day before the announcement of Maharashtra assembly election results).

The floor price is at a discount of 3.5% over the stock’s closing price on Monday.