Markets ended on a flat note on Friday on back of lack of global triggers. The outcome of the state elections in five states will be closely watched. Voting which began on November 07 will end of November 30 while counting of votes will be held on December 03. These elections are crucial before the 2024 Lok Sabha elections.
As long as Nifty Bank trades convincingly below 50 DMA, the risk of selling spreading across other sectors are likely as financials hold 35% within Nifty 50 Index. In Nifty spot terms, crucial support to watch would be 19692 on closing basis.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Maruti – To hike prices across models in January 2024.
- TCS – Launches new generative AI practice in partnership with AWS.
- Fortis/Fortis Malar – Fortis to divest entire 62.7 pct stake in Fortis Malar for Rs. 1280 mn.
- Kesoram – Exploring fund raise for repayment of debt, according to reports.
- Jk Cement – Commences cement grinding capacity of 1.5 MTPA at Ujjain, MP unit.
- Paytm – Berkshire Hathaway sells entire stake via block.
- Kpi Green – Bags new order for 4.66 MW solar power plant under cpp segment.
- Newgen Soft – Board approves bonus issue in the ratio of 1:1.
- CE Info – Board approves fund raise of up to Rs. 5,000 mn via QIP.
- Syrma Sgs – Incorporates subsidiary ‘Syrma Semicon’ for memory storage products.
- Dynamatic Technologies – Completes 1st delivery of Airbus A220 Escape Hatch Door to Airbus Atlantic.
- ONGC – Company charges premium over Brent in oil deals with BPCL, HPCL.
- Lupin – Company has received approval from U.S. FDA for Bromfenac Ophthalmic Solution.
- LTI Mindtree – Company launched Quantum-Safe VPN link in London.
Negative Read through
- TCS – Company told to pay USD 210 mn to DXC Technology in another trade-secret case in US.
- Holdcos – Delisting regulations not approved by SEBI board.
- DLF – Ed conducted search ops at DLF head quarter in Supertech land purchase matter.
- STL – SC dismisses appeal filed in Shin-etsu case, liable to pay damages worth nearly USD 2.1 mn.
- Cello World – Profit, sales increased by 4 pct each, margin declines 60 bps QoQ.
- Stove Kraft – Manufacturing operations were disrupted from Nov 22-26 at B’luru, Baddi plants.
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