Experts Financial News

Karma Energy(up 4.97%), NLC India(up 1.20%), Kalpataru Projects International(up 0.42%) and Power Grid Corporation of India(up 0.17%) were among the top gainers. Transformers and Rectifiers(India)(down 3.95%), Orient Green Power Company(down 3.89%), RTNPOWER(down 3.83%), Jaiprakash Power Ventures(down 3.80%), Adani Power(down 3.15%), KPI Green Energy(down 2.96%), Tata Power Company(down 2.72%), SJVN(down 2.61%), Adani Energy Solutions(down 2.56%) and ADANIGREEN(down 2.53%) were among the top losers.

Domestic benchmark index NSE Nifty fell 52.8 points to 20043.8, while the BSE Sensex traded 206.66 points down at 66695.25. On the other hand, Global Education, Shradha Infraproject, New India Assurance, Indian Renewable and Navkar Corp stocks hit their fresh 52-week highs today.

Trent Ltd. gained 1.59 per cent to Rs 2720.0 in Thursday's trade as of 10:05AM (IST). The stock hit a high price of Rs 2735.3 and low of Rs 2678.0 during the session.

ICICI Prudential Life Insurance Company Ltd. traded 1.83 per cent up at Rs 560.95 at 10:10AM (IST) on Thursday, even as BSE benchmark Sensex dropped 241.61 points to 66660.3.

Ashok Leyland while Jefferies recommended a buy on Eicher Motors. Also, Kotak Institutional Equities had a buy rating on Zomato and Shriram Finance. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Ashok Leyland: Buy| Target Rs 238 CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 238.

₹133.55, 4.61% lower than the issue price and 3.15% lower than the listing price. Fedbank Financial Services IPO had opened for subscription from Wednesday, November 22, and closed on Friday, November 24. Fedbank Financial Services IPO price band had been fixed in the range of ₹133 to ₹140 per equity share of face value of ₹10.

Planning for retirement is a crucial aspect of one's financial journey, and selecting the right investment instruments to build a solid retirement portfolio is no easy task. Amongst the various options available, Unit Linked Insurance Plans (ULIPs) have gained significant popularity in recent years. ULIPs offer the dual benefit of insurance coverage and investment opportunities, making them an intriguing proposition for retirees.

Flair IPO: Allotment status of the initial public offering (IPO) of Flair Writing Industries Ltd has been announced and now allottees are eagerly waiting for Flair IPO listing date, which is most likely on 1st December 2023 i.e. tomorrow. Meanwhile, in overcrowded primary market, grey market has gone further bullish on Flair IPO.

Day trading guide for today: Despite mixed global market cues, Indian stock market finished higher on Wednesday. Nifty 50 index ended above 20,000 levels for the first time since September 2023 and closed at 20,096 levels. BSE Sensex registered 727 points gain and closed at 66,901 mark whereas Bank Nifty index gained 685 points and finished at 44,566 levels.

The S&P BSE Sensex rose more than 700 points while Nifty50 reclaimed the 20,000 mark on Wednesday. The Nifty future closed positive with gains of 0.48% at 19889 levels. Positive setup was seen in stocks like Hindalco, IOC, Tata Motors, NMDC, Bharti Airtel, MCX, PNB, Hind Petro, Tata Power, India Cements, MFSL and Adani Port. India VIX was up by 7.46% from 11.33 to 12.17 levels in the previous trading session.

Gandhar Oil debuted at a premium of 76% (up Rs 129) on NSE in Thursday's trade. The stock listed at Rs 298 on NSE, while on BSE it debuted at Rs 295.4, up 75% over the issue price of Rs 169. Ahead of the debut, the stock fetched a premium of Rs 72 in the unlisted market. Gandhar Oil received a better-than-expected subscription demand at 64x for its IPO, mainly on the back of reasonable valuations. The net proceeds from fresh issuance worth Rs 357 crore will be used towards financing the repayment/pre-payment of a loan facility, purchase of equipment and civil work, expansion in capacity of automotive oil, petroleum jelly, white oils by installing blending tanks, funding working capital requirements and general corporate purposes. Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries.

Fedbank Financial on Thursday got listed with a discount of 1.6% on BSE on debut at the bourses on Thursday. The stock was listed at a premium of Rs 137.75. Meanwhile, on the NSE the stock was listed at Rs 158, down 1.4%. The IPO, which was priced in the range of 133-140, received subscription demand twice the shares on offer. «Despite the company's strong track record of growth and profitability, along with its diversified customer portfolio and focus on providing affordable financial solutions to underserved and unbanked segments, the lack of enthusiasm among investors is striking,» said Shivani Nayti of Swastika Investmart. Net proceeds from the fresh issue will be utilised towards augmenting Tier–I capital base to meet its future capital requirements, arising out of the growth of business and assets.

Consumption is a theme that has always been a play on India within the emerging market basket, given its enormous size of the population, favourable demographics, and changing preferences particularly among the lower- and middle-class segments. This is one theme that Arvind Kothari of Niveshaay Investment Advisory is extremely positive on, and within this, the smallcase manager prefers discretionary players. “The discretionary space looks interesting to us, and we are comfortable about investing in companies where valuations are more palatable,” Kothari, who is the founder of the investment advisory firm, said in an interview with ETMarkets. Besides consumption, Kothari is also betting on the manufacturing theme, and believes that a third term for the incumbent government in 2024 would back these two themes as it would signify political stability, and continuity of reforms. “If the Indian economy maintains the anticipated growth trajectory, these two themes are well-positioned to be influential in the journey,” he said. Edited excerpts: What’s your take on the current market trajectory as India seems to be outpacing most of its EM peers, notwithstanding the global risks.

Future Consumer(up 6.25%), Dodla Dairy(up 1.20%), TATA CONSUMER PRODUCTS(up 0.61%), Godrej Consumer Products(up 0.58%), Varun Beverages(up 0.47%), Marico(up 0.45%), Bikaji Foods International(up 0.42%), Hindustan Unilever(up 0.35%), Zydus Wellness(up 0.24%) and Gillette India(up 0.17%) were among the top gainers. Adani Wilmar(down 2.56%), P & G Hygiene(down 1.72%), Mrs Bectors Food Specialities(down 1.61%), Heritage Foods(down 1.45%), Patanjali Foods(down 1.11%), ADF Foods(down 0.86%), Umang Dairies(down 0.83%), Parag Milk(down 0.75%), Bajaj Consumer(down 0.67%) and Hindustan Foods(down 0.55%) were among the top losers.

Tata Technologies listed at a premium of 140% (up Rs 700) on the exchanges on Thursday. The stock debuted at Rs 1200 on NSE and BSE as against an issue price of Rs 500. Ahead of the listing, the shares commanded a premium of Rs 406 in the unlisted market. Listing gains aside, analysts are quite bullish on the company even from a long-term perspective. «The company's global presence and expertise in engineering solutions have positioned it as a preferred partner for multinational corporations across diverse industries.

“India, with its relatively superior economic and corporate earnings growth, could attract higher global flows than what we have seen historically," Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India. In an interview with ETMarkets, Rajguru who has over has over 19 years of experience in the Indian Capital Markets said: “While India remains an expensive market vs the EM peers, we believe that stronger earnings growth, macro stability and better visibility will help the country to enjoy the premium valuations,” Edited excerpts: We are approaching the last month of the year 2023. Where are markets headed? The Indian markets seem to be on a good wicket at the current juncture, albeit some near-term intermittent volatility which again could be driven more by global factors.

Hindustan Copper and Manappuram Finance while Balrampur Chini, Bharat Heavy Electricals (BHEL), Granules India, and Indiabulls Housing Finance have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. MWPL for Hindustan Copper stood at 96.5% on Wednesday with OI reported by Trendlyne at 9.2 million.

Tata Technologies Ltd., the first company from the salt-to-software conglomerate to list since 2004, begin trading on Thursday. Tata Technologies’ IPO raised Rs 30.4 billion ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled into the engineering unit of luxury carmaker Jaguar Land Rover’s owner Tata Motors Ltd. The sale comes as India logs a record number of listings in 2023, fueled by a booming stock market and optimism about the country’s economic growth. The frenzy reached a fever pitch last week when first-time share sales from five issuers, including Tata Technologies, garnered a combined 2.5 trillion rupees in application amount. “Strong optimism in the domestic market has fueled the surge in IPO listings in the last two years,” Jahnavi Prabhakar, an economist at Bank of Baroda wrote in a note on Wednesday. “A large number of IPOs have been listed at a premium, making this a win-win situation for investors.” While the 205 IPOs in India so far in 2023 have mostly been small — only two raised more than $500 million — about 80% of the newcomers are trading above their offer prices versus 62% in Asia. Indian Renewable Energy Development Agency Ltd., a state-run lender to renewable energy projects, surged 88% in its trading debut Wednesday.

Gautam Trivedi, Co-Founder & Managing Partner, Napean Capital, says “the market is now starting to accept that there is a certain different valuation metric we should be applying to the new age tech companies. These companies are changing the way we live and behave, whether it is Zomato, whether it is insurance online or Paytm. Going forward, these are companies you want to keep owning from a longer term perspective.” Let us look at something which is in the public domain, something which we have discussed in the past, your top holdings, Varun Beverages, Landmark, Inox Wind, Sampada. Have your top five holdings changed or are they still intact? These are the top five holdings on a mark to market basis. So these are actually companies that we are a bit more of a special sits (situations) fund. We look for steady compounders as well. Varun Beverages, interestingly, was a special sits which became a steady compounder. Landmark Cars, is the other sector which is compounding – the auto space. Inox Wind, is a special sits investment because the government policy has changed favourably towards wind power because there was too much focus on solar given the fact that solar energy is only available from eight o'clock in the morning to about 4.30 or 5.00 p.m. in the afternoon.

Gold prices consolidated in a tight range and hovered close to a near seven-month high on Thursday, as investors awaited key inflation print to gauge whether interest rate cuts in the U.S. would come sooner than previously expected. FUNDAMENTALS * Spot gold was flat at $2,043.69 per ounce by 0225 GMT, after hitting its highest since May 5 on Wednesday, and was poised for its second straight monthly gain. * U.S.

rate hikes ahead of a crucial inflation report later in the day. The dollar index, which measures U.S. currency against six rivals, eased 0.058% to 102.74, not far from 102.46 — its lowest since Aug. 10 it touched on Wednesday. The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. The dollar clawed back some of its losses on Wednesday after data showed the U.S.