Week Financial News

REC Share Price Today: Shares of Rural Electrification Corporation (REC) were locked at 8 per cent upper circuit at ₹382.75 apiece on the BSE, hitting its 52-week high mark, after the state-owned firm's yearly disbursement crossed ₹1 lakh crore for the first time ever on Friday, December 1. In the corresponding period of eight months to the financial year, the disbursement was ₹47,035 crore. “For the first time, REC crossed disbursement of ₹1,00,000 crore in a year.

Hindustan Aeronautics Limited (HAL) surged to a new 52-week high on Friday, December 1. The HAL stock experienced a notable 5% increase, reaching a peak of ₹2499 per share on the BSE, against previous closing session at ₹2382.30 per share. The spike in stock value follows the recent approval from the Defence Acquisition Council (DAC) on Thursday, granting Acceptance of Necessity (AON) for the acquisition of the Light Combat Helicopter (LCH) for both the Indian Air Force (IAF) and Indian Army, as well as the Light Combat Aircraft (LCA) Mk 1A for the IAF.

Tata Power share price rose 4% to touch a 52-week high on Friday's trading session amid a bullish market and several news developments around the stock. Since last Friday's closing, the Tata Power share price has increased by more than 7% this week.

Further, last month, as many as 322 smallcap stocks hit fresh 52-week highs. All the midcap and smallcap indices of BSE outperformed the benchmark Sensex and gave about 9-11% returns in November. The easing of US bond yields and crude oil prices contributed to the recovery in the market last month. Bond yields eased following encouraging inflation data in the US, which strengthened the view that the interest rate hike cycle is closer to the peak.

Also Read- Flair share price hits 10% lower circuit after dream debut. Buy, wait or exit? Analysts at Motilal Oswal Financial Services said that moderate spot LNG prices are expected to have a positive effect GAIL's transmission business. GAIL’s performance during the September quarter already was robust with high earnings growth 70% sequentially led by super strong earnings from gas transmission and trading segments and narrowing down of loss in petchem segment.

«We wish to inform that, as per the Press Information Bureau, Defence Acquisition Council (DAC) accorded acceptance of necessity (AON) for procurement of Light Combat Helicopter (LCH) for Indian Air Force & Indian Army and Light Combat Aircraft (LCA) Mk 1A for Indian Air Force from HAL under buy (lndian-IDDM) category. The AONs have also been accorded for upgradation of Su-30 MKI Aircraft indigenously from HAL,» the company said in an exchange filing. While procurement of these equipment pieces will provide enormous strength to the IAF, acquisition from domestic defence industries will take the indigenous capability to a new height.

Avenue Supermarts Ltd (D-Mart), part of the diversified retail industry, has given a breakout from a Descending Triangle pattern on the weekly charts and has opened room for the stock to head towards 4000 levels. Short to medium-term traders can look to buy the stock now for a possible target of Rs 4500-4600 in the medium term, suggest experts. The stock hit a 52-week high of Rs 4225 on 15th December 2022, but it failed to hold on to the momentum and witnessed some profit taking. The retail giant gave a breakout from a 2-year Descending Triangle formation on the weekly charts formed since November 2021 last week. The momentum also helped the stock to climb above the 50-week Moving Average. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts. The daily Relative Strength Index (RSI) is at 61.1.

UltraTech Cement share price scaled all time high of ₹9152 on the BSE in the morning trades on Friday gaining almost 1.7% post Thursday's announcement on planned acquisition of Kesoram Industries Cement assets by UltraTech . Analyst see more upside looking at benefits the acquisition will accrue. UltraTech Cement Ltd planned acquisition of Kesoram Industries Cement capacities is intended to strengthen its presence and help gain market share in the South and Western region of the country.

The XRP price has dipped by 1% in the past 24 hours, dropping to $0.603258 as the wider crypto market suffers a 0.5% fall today.

Domestic benchmark index NSE Nifty ended 36.55 points up at 20133.15, while the BSE Sensex closed 86.53 points up at 66988.44. On the other hand, Navkar Corp, Gufic BioSci, New India Assurance, LGB Forge and Global Education stocks hit their fresh 52-week highs today.

Balrampur Chini Mills share prices that have gained more than 15% in November also scaled 52-week highs on Thursday. Stocks of sugar companies remain in limelight with rising sugar prices amidst favorable demand supply dynamics and rising ethanol production. Triveni Engineering and Industries and Bajaj Hindusthan Sugar Ltd shares are also trading close to 52-week highs seen in October and November respectively.

Metro Brands share price jumped nearly 9% to touch a 52-week high on Thursday's trade following the company's announcement on Wednesday of a strategic partnership with New York-based specialty athletic retailer Foot Locker, Inc. Metro Brands share price opened at ₹1,371.50 apiece on BSE.

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.

FOX Business correspondent Madison Alworth shares why for many first-time homebuyers, the American dream is delayed as a result of high mortgage rates and home prices on 'Varney and Co.'

Amitabh Bachchan hosted quiz show Kaun Banega Crorepati is its 15th season now. The mass favourite show for decades now, is running its Juniors week, which saw a 12-year-old Mayank become the youngest winner of ₹1 crore. ‘KBC Juniors Week! started with rollover contestant Mayank, from Mahendragarh, Haryana.

Hero MotoCorp Ltd, TVS Motor Company Ltd, Bajaj Auto Ltd with gains of 1-4.5% scaled 52-week highs on Wednesday. The sentiments on two-wheeler manufacturers have improved led by strong festive season sales. The S&P BSE Auto Index is up almost 10% in November as all automobile sales are likely to have caught pace during the festival season For the two-wheeler manufacturers the retails are expected to grow 9-11% year-on-year in November’2023, led by strong demand in the first half of the month, wherein volumes grew 14-16% year-on-year, said analysts at Motilal Oswal Financial Services.

Aster DM Healthcare rallied nearly 15% to Rs 382 in Wednesday's trade on BSE after the firm announced that it would sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion as it looks to separate its businesses in India and the Middle East. The sale is anticipated to be completed in quarter 4 of the financial year ending 2024. “The board of directors of Affinity approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited and the execution of definitive agreements in connection with the Transaction,” said Aster in a filing. The buyer, owned by Aster India's promoters and funds managed by Fajr Capital Advisors Limited, will have a shareholding ratio of 35:65, respectively.

Bitcoin, as it traded within the range of US$37,000 to US$37,600. The market's equilibrium during this period can be attributed to the prevailing regulatory uncertainty in the United States. Investors are digesting the fallout from regulatory actions taken against some players in the industry. Amidst this, optimism lies in the anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF). However, recent indications suggest that the U.S. Securities and Exchange Commission (SEC) might defer this decision until 2024. Currently, Bitcoin is trading at the US$37,400 level, reflecting a 3% increase on the weekly chart, a 7% gain month-to-date, and an impressive 125% surge year-to-date. The cryptocurrency is consolidating its position and may initiate another rally if it successfully surpasses the US$38,000 resistance zone. If not, it could trigger a fresh decline, with immediate support situated at the US$37,200 level. Meanwhile, Ethereum is currently positioned above the US$2,000 level, consolidating gains and eyeing potential advancement toward the US$2,150 level.

Aster DM Healthcare share price rallied over 14% to hit a fresh 52-week high on Wednesday after the company approved to sell its GCC (Gulf Cooperation Council) business for over $1 billion. Aster DM shares jumped as much as 14.83% to a new high of ₹382.00 apiece on the BSE. Hospital chain Aster DM Healthcare on Tuesday announced to separate its Gulf business and sell it to its Indian promoters (Moopen family) and a Dubai consortium for $1.001 billion.

Netflix ushers in the holiday spirit with a slew of exciting releases. While the allure of festive cheer beckons, for those craving a spine-tingling experience, here's a roundup of some chilling classics waiting to be explored on Netflix this week. This month, Netflix treated horror enthusiasts to a fresh serving of fear with the latest addition to the Insidious franchise, «Insidious: The Red Door,» helmed by Patrick Wilson in his directorial debut.

Benchmark NSE Nifty closed 95.0 points up at 19889.7 amid buying in frontline bluechip counters. However, stocks such as Bohra Industries, Karda Const, SS Infrastructure, Penta Gold and Bannari Amman, touched their fresh 52-week lows.