Analysis Financial News

Gold prices fell on Tuesday to their lowest in more than a week, weighed down by a stronger dollar and reports of a potential Israel-Hezbollah ceasefire that dampened safe-haven demand.

small-cap Russell 2000 index hitting an all-time high after Scott Bessent's nomination as U.S. Treasury secretary helped push bond yields lower. Focus also turned to talks of a ceasefire deal between Israel and Lebanon, which pushed oil prices lower, dragging the Energy index 2% lower.

HUL, Zomato, Adani Enterprises, Wipro, LT Foods, Power Grid among others will be in focus due to various news developments. Zomato

Hinduja Group is in talks with investors to raise ₹4,300 crore — the second tranche — to fund the acquisition of Anil Ambani's financial services company Reliance Capital through the ongoing insolvency resolution process, according to people familiar with the matter. The first tranche amounting to ₹3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.

Subscribe to enjoy similar stories. Honasa Consumer Ltd, the parent company of the well-known D2C brand Mamaearth, crashed 60% in the last few weeks. Here’s the story of what could have happened.

equity indexes. This was the strongest one-day gain for the local currency since June 3, LSEG data showed. The rupee rose to 84.25 intraday, according to Reuters, but likely dollar absorption by the Reserve Bank of India put a cap on the appreciation, traders said.

Canada has committed to net-zero greenhouse gas emissions by 2050, and for many Canadians that will mean savings on their energy bills — but not all.

equity market has been on a remarkable run in 2024, with the S&P 500 posting gains of over 25% year-to-date, outpacing India's Nifty50, which has risen 11% during the same period. However, as highlighted by Gary Dugan, Chief Executive Officer of The Global CIO Office in a note, this rally warrants cautious optimism.

EQT AB is considering an initial public offering for Indira IVF that could raise about $400 million, according to people familiar with the matter. The Stockholm-based investment firm is working with arrangers to help prepare for an IPO in Mumbai as soon as next year, the people said, asking not to be identified because the matter is private. A share sale could value the IVF clinic operator at about $2.5 billion, they said.

capital market regulator the Securities and Exchange Board of India (SEBI) for its maiden equity share sale. The company’s initial public offering (IPO) comprises a fresh issue of up to Rs 1,590 crore. The developer proposes to utilize the net proceeds towards repayment and pre-payment, in full or in part, of certain borrowings availed by the company and its subsidiaries, and general corporate purposes.

Cummins India staged a recovery on Monday with over 6% gain after shedding nearly 7% since declaring the September quarter result on November 7. The company reported a strong double digit growth year-on-year in revenue and profit for the second quarter amid expansion in operating margin before depreciation and amortisation (EBITDA margin). However, uncertainty over the extent of demand, pricing of the diesel power generators under 800 Kilowatt-hour (kWh) capacity, which was buoyant in the first two quarters of the current fiscal year, and elevated valuation are some of the concerns for the stock. The Central Pollution Control Board made CPCB IV plus compliance mandatory for generators under 800 KVA range since July 01. These standards, in a bid to improve air quality, prescribe the permissible levels of pollutants emitted by diesel generators. This regulatory push was a key driver in sales of gensets under 800 kWh during the first half of FY25 for Cummins India. In addition, the company also reported traction from data centre sector for its generators, which are in the above 800 kWh range and follow CPCB II norms.

Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue

The price band for the Issue is Rs 10 lac to Rs 10..5 lac per unit, and it will open for subscription on 2nd December, 2024. The minimum bid size is 1 unit. “The IPO is a fresh issue of Platina units with no offer-for-sale component. The Offer Proceeds are proposed to be utilised primarily for acquiring the Prestige Tech Platina asset by the Platina SPVs, with the remaining utilised for other general corporate purposes,” the company said.

bribery scandal in the US will not have a material impact on billionaire Gautam Adani's businesses, Rajiv Jain's GQG Partners on Monday said there is no change in its investment thesis on Adani Group companies. Before the scandal broke out, GQG's total exposure to Adani Group companies stood at $9.7 billion which was about 6.1% of its total assets. «We believe this level of exposure is manageable, even given the volatility in Adani Group stocks,» GQG Partners said in a memo, adding that the fundamentals of the companies the boutique investment firm is invested in remain sound.

Shares of Prestige Estates Projects Ltd.(up 6.07 per cent), Mahindra Lifespace Developers Ltd.(up 4.88 per cent), Godrej Properties Ltd.(up 3.01 per cent), Brigade Enterprises Ltd.(up 2.81 per cent) and Phoenix Mills Ltd.(up 2.67 per cent) ended the day as top gainers in the pack.

Benchmark NSE Nifty closed 314.66 points up at 24221.9 amid buying in frontline bluechip counters.

equity indexes, alongside softness in the dollar and lower U.S. bond yields. The rupee closed at 84.2875 against the U.S. dollar, up 0.2% from its previous close, its biggest single-day gain since June 3.

Subscribe to enjoy similar stories. The thumping victory of the Bharatiya Janata Party and its allies (Mahayuti) in Maharashtra assembly election means political stability with more synchronization of economic policies between the Centre and the state. The Mahayuti coalition’s promise of increased focus on planned urban development in Mumbai bodes well for real estate developers, construction, and infrastructure stocks.

Solarworld Energy Solutions has raised around Rs 110 crore in a pre-IPO placement round from a clutch of investors including ValueQuest Investment Advisors. With this, the fresh issue component of the company's planned IPO (initial public offering) has been reduced to Rs 440 crore, from Rs 550 crore projected earlier. In a public announcement last week, the solar energy solutions provider said it has allotted 31.24 lakh shares to investors at Rs 352.05 apiece, aggregating the transaction size to Rs 109.99 crore on November 21.

Au Small Finance Bank Ltd. 0.24 per cent to Rs 597.25 in Monday's trade as of 12:52PM (IST). The stock hit a high price of Rs 604.85 and low of Rs 596.50 during the session. The return on equity (ROE) for the stock stood at 12.28 per cent. Traded volume on the counter stood at 12:52PM shares and turnover at Rs 1.42 crore around that time. The stock of Au Small Finance Bank Ltd. quoted a 52-week high price of Rs 813.00 and 52-week low prices of Rs 554.00, respectively.

Tata Power Company Ltd. 1.07 per cent to Rs 418.00 at 12:46PM (IST) in Monday's trade. The scrip hit a high of Rs 423.90 and low of Rs 417.25 so far during the session. The stock had closed at Rs 413.55 in the previous session. The counter had a total traded volume of 12:46PM shares so far with a turnover of Rs 10.86 crore on BSE. The stock traded at a price-to-earnings multiple of 35.64 and a price-to-book ratio of 3.89.