Market Beats

The business of the company has inherent risks which have been managed well and the growth in numbers in the current financial year presents a positive outlook.

Hero Motocorp, country's largest two-wheeler maker Hero MotoCorp reported a 41 per cent drop in wholesales at 3,49,393 units in November.

Oil prices rose on Thursday, reversing the previous day's losses, on expectations OPEC+ may pause supply additions amid growing concern the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand.

As a practical matter, a company can't be referred to the National Company Law Tribunal (NCLT) within weeks and months of a first default. The promoters should be given a fair chance to revive the company.

Gold prices eased on Thursday hurt by a firmer dollar, as investors assessed how central banks are likely to respond to surging inflation and concerns over economic growth spurred by the new Omicron coronavirus variant. Spot gold XAU= fell 0.1% to $1,780.36 per ounce by 0050 GMT. U.S. gold futures GCv1 dropped 0.1% to $1,782.50.

The maker of the Alto and Wagon R intends to launch four new SUVs starting at ₹10 lakh, adding more options to the Vitara Brezza for customers who want to upgrade from a small car to a Maruti Suzuki SUV, people with knowledge of the plans said.

Regulators including the Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) have raised concerns before a parliamentary panel about how some individual investors are collecting money in small towns - with business models resembling those of chit funds - for investing in crypto assets.

“While the crypto exchanges have paused advertising and are awaiting clarity from the government, they are all making blueprints for fresh advertising which will show claims that are toned down,” said a person familiar with the matter.

The company's output in the April-November period also increased to 353.4 MT from over 334.5 MT in the year-ago period, the filing said. Coal India accounts for over 80 per cent of domestic coal output.

The overall negative chart set-up remains intact and further upside could encounter strong overhead resistance around 17,300-17,400 levels in the next 1-2 sessions, before showing another round of weakness from the highs, says Nagaraj Shetti of HDFC Securities.

The overall negative chart set-up remains intact and further upside could encounter strong overhead resistance around 17,300-17,400 levels in the next 1-2 sessions, before showing another round of weakness from the highs, says Nagaraj Shetti of HDFC Securities.

Private sector banks have been leading the way in reducing cost of funds in the past year of pandemic even as state-run banks are not far behind. While the overall lending rates have fallen as much as 100 basis points, for private banks it has been more.

Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and sale of financial products.

Gaurav Ratnaparkhi of Sharekhan said that the dip on Tuesday had taken support near the hourly lower Bollinger Band. Ratnaparkhi believes the positive momentum will pick up once the swing high of 17,324 is taken out.

In September this year, as many as 10.10 million subscribers submitted their MNP requests with their respective telecom carriers, increasing the cumulative porting requests to 638.25 million.

This year, November's gains were derailed in its final days, as concerns over how the new COVID-19 variant may impact global growth and Tuesday's hawkish shift by the Fed in the face of surging inflation left the index with a 0.8% loss for the month. The S&P 500 is up 21.6% so far this year and remains near record highs.

In a break-up, the companies raised as much as USD 1.32 billion by way of external commercial borrowings (ECBs) from the automatic route.

The shares were offloaded at Rs 300.04 apiece, valuing the transaction size at Rs 365 crore.

The proceeds could also be used to expand capacity and other business purposes. This would be a green bond with a likely tenor of five or seven years. The final contours are not yet fixed. The size of the deal will likely vary in the range of $500 million and $1 billion, market sources ET.

On the Put side, 17,000 shows the highest accumulation of Put OI, meaning that as long as Nifty keeps its head above this level, we can expect an extension of the current technical pullback on the upside.

The Dow Jones Industrial Average fell 461.68 points, or 1.34%, to 34,022.04, the S&P 500 lost 53.96 points, or 1.18%, to 4,513.04 and the Nasdaq Composite dropped 283.64 points, or 1.83%, to 15,254.05.

Papers filed in August with India's markets regulator seeking approval for its listing show the dealer plans to raise $20 million by issuing new shares.

Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.

The NFO will have a base issue size of Rs 1,000 crore with an open greenshoe option.

Hamblin Watsa Investment Counsel sold 12.2 million shares of IIFL Finance at Rs 300 per share through a bulk deal on the BSE.

A strong fiscal position of local bodies could help them tackle future crisis successfully and also manage higher vaccinations, RBI said in its latest report titled "State Finances: A study of Budgets". " As MCs with higher per capita receipts could achieve a higher vaccination rate, strengthening local government finances is key to augment India’s capacity to tackle future health crises successfully" RBI said in its report.

"Spot gold prices for 24-carat gold at Delhi fell by Rs 302 reflecting an overnight decline in COMEX gold prices along with rupee appreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Banks have faced the brunt of the selling pressure from foreign portfolio investors throughout November. The high exposure that FPIs have to the sector makes it first at the firing line.

A two-member NCLAT bench upheld the orders of the Kolkata bench of the National Company Law Tribunal (NCLT), which had on February 11, 2021, admitted a plea by ICICI Bank and directed to initiate insolvency proceedings against MSEL.

The CJI read over the letter written by one of the former judges, who was appointed by an arbitrator while recusing from the case. Despite the apex court's direction that the arbitrators themselves fix their fees, to be borne by both the parties, the ONGC insisted on paying the fees as enumerated under the clause of the contract.

"Nifty Bank, which had been underperforming of late, witnessed some short-covering as the index managed to take support around its 200-DMA. Looking at the data, we expect Nifty50 to head towards 17,250-17,300 on the weekly expiry day. From a positional perspective, the index needs to close above 17,300 for broader market participation," said Ruchit Jain, Trading Strategist at 5paisa.com.

“Financial and FMCG stocks have been the darling of markets and fund managers. That entire pack has been a total disaster in the last 15-18 months.”

The NSE Nifty index closed 183.7 points up at 17166.9

"Markets managed to settle with the gain of over a per cent amid volatility, tracking favourable local cues. Participants reacted positively to the GDP numbers in early trade but the mixed trend across sectors and feeble global cues capped the movement thereafter," said Ajit Mishra, VP - Research, Religare Broking.

The Nifty Realty index closed 1.45 per cent up at 494.65.

The 30-share BSE Sensex closed up 619.92 points at 57684.79

The NSE Nifty index closed 183.7 points up at 17166.9

In the Nifty 50 index, 33 stocks ended in the green, while 17 stocks closed in the red in today's trade.

Cipla, Divis Labs, UltraTech Cem., Dr. Reddys and Sun Pharma were among the top losers on NSE in today's trade.

The 30-share BSE Sensex closed up 619.92 points at 57684.79

The foreign brokerage forecast doubling of revenues every 2-3 years in the coming decade, which it said would be the chief catalyst for the stock. This is even as it believes marketing costs are likely to remain high for the next 2-3 years, which could put pressure on margins. If the fashion business turns profitable, this will be another major catalyst for the stock price, the brokerage said.

The Nifty IT index closed 1.1 per cent up at 35429.0.

De Nora India, KDDL Ltd, Mirza Intnl, Sirca Paints and Bhagyanagar Properti, hit their fresh 52-week highs during the day.

The Nifty Pharma index closed 1.62 per cent down at 13442.1.

The 10 underwriters will reach out to as many as 40 global firms about two weeks later than planned, the people said, asking not to be identified discussing private details. That’s because several of these firms were key investors in the IPO of fintech giant Paytm, which roiled sentiment when it tumbled on debut last month, one person added.

The country's largest carmaker Maruti Suzuki India reported 9 per cent decline in total sales at 1,39,184 units in November with electronic components shortage impacting production. The company had sold a total of 1,53,223 units in the same month last year, Maruti Suzuki India Ltd (MSIL) said in a statement.

The 30-share BSE Sensex closed up 619.92 points at 57684.79

Snapping its four-session losing streak, Bank Nifty rallied 1.8 per cent though it failed to move beyond Tuesday's peak.

In the domestic market, passenger vehicle sales were up 7 per cent to 19,458 units last month, compared to 18,212 units in November 2020.