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Market Recap 19-11-2024

Sebencapital

Published
19/11/24
Market Recap 19-11-2024



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.

  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.


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Written by devesh gupta

I am Devesh Gupta, a Junior Analyst at Seben Capital, where I specialize in finance with a focus on market research and data analysis. I support investment decisions by translating complex financial data into actionable insights. My role at Seben Capital allows me to contribute significantly to our investment strategies, leveraging my analytical skills to drive success.

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