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Indian Indices

I) Nifty: opened at 23529 and touched a high of 23780 then a low of 23464 and closed at 23518 with a total of + 64 points in Positive

II) Bank Nifty: open 50580 and touched a high of 50983 then a low of 50440 and closed at 50626 With a total of + 262 points Positive

III) Fin Nifty: open 23361 and touched a high of 23466 then a low of 23289 and closed at 23403 With a total of + 145 points in Positive

IV) Nifty Mid Select: open 12112 and touched a high of 12321 then a low of 12121 and closed at 12171 With a total of + 80 points in Positive

NSE Advance and Decline

Nifty 500 Top Gainer

Nifty 500 TOP LOSER

Sectoral Performance

Outperforming stocks vs nifty 500 over 1 week

Underperforming Stock vs Nifty 500 over 1 week

Stock With Rising Volume

Headlines

Indian Stock Market Highlights for November 19, 2024

Corporate Developments and Announcements

1. Reliance Industries:
   • Completed a joint venture with Disney to unify leading entertainment brands in India, targeting an expanded market presence.
2. Ultratech Cement:
   • Plans to raise ₹30 billion through private placement of debentures, aimed at bolstering its financial base for growth initiatives.
3. Timken India:
   • Investing ₹7 billion in a new facility in Bharuch, Gujarat, enhancing manufacturing capabilities and operational scale.
4. Tata Motors:
   • Foresees sustained momentum in passenger vehicle sales in Q3FY25, driven by steady consumer demand.

Earnings Updates

1. Sobha Ltd:
   • Posted a YoY net profit growth of ₹26 crore, up from ₹15 crore. Revenue increased to ₹934 crore from ₹741 crore.
2. Grasim Industries:
   • Reported a significant drop in net profit to ₹1,108 crore from ₹2,024 crore YoY, despite higher revenue.
3. Balaji Telefilms:
   • Achieved a net profit of ₹5.65 crore, rising from ₹1.18 crore YoY, though revenue dropped from ₹200 crore to ₹140 crore.
4. Ratnamani Metals:
   • Net profit declined to ₹100 crore from ₹164 crore YoY, with revenue shrinking to ₹970 crore from ₹1,131 crore.

Regulatory and Legal Updates

1. Godrej Properties:
   • Refuted allegations of fraud and money laundering amidst an ongoing investigation by the Enforcement Directorate.
2. ABB India:
   • Received a regulatory warning for insider trading involving two senior officials.
3. Vodafone Idea:
   • Postponed a ₹25,000 crore fundraising initiative due to unresolved Adjusted Gross Revenue (AGR) issues.

Sectoral Highlights

1. Energy:
   • Adani Total Gas and Indraprastha Gas Limited faced reductions in APM gas allocations by GAIL, impacting their operational dynamics.
2. Banking:
   • Ujjivan Small Finance Bank approved the sale of non-performing assets worth ₹270 crore, aiming to streamline its financial position.
3. Real Estate:
   • Shriram Properties reported a reduced net loss of ₹0.79 crore compared to ₹20.1 crore YoY, signaling slight improvement.

Strategic Collaborations and Expansions

1. Tata Elxsi and Suzuki:
   • Collaborated on an Offshore Development Center to drive green mobility innovations, focusing on eco-friendly materials and advanced powertrains.
2. L&T Technology Services:
   • Partnered with a U.S. entity to implement smart city solutions, emphasizing mobility and sustainability advancements.

Production and Infrastructure Updates

1. Apar Industries:
   • Plans to triple Continuous Transposed Conductor (CTC) capacity by FY26, aligning with government power infrastructure priorities.
2. Meson Valves:
   • Acquired land near the Goa-Maharashtra border to expand its manufacturing operations.

Market Sentiments

The market exhibited mixed performance, with some companies reporting financial headwinds due to operational challenges and others announcing growth-oriented investments and strategic partnerships. While earnings were subdued in sectors like real estate and manufacturing, proactive measures in technology and energy hint at long-term growth potential.

See Our last market Recap Blog