NIFTY in rush before year ending , Is this a gift before Christmas

 

NIFTY UPDATE

Nifty 50 closed at 21,456.65 with gain of  273.95  BANKNIFTY  closed at 48143 with gain of 411 points while the broader Nifty 500 closed at 19,145.05 (171.2, 0.9%). Market breadth is horizontal. Of the 1,983 stocks traded today, 982 showed gains, and 966 showed losses. Indian indices extended the gains from the afternoon session and closed in the green, with the Nifty 50 closing at 21,449. Nifty VIX, rose by 6.6 % and closed at 13.13 points with gain of  0.81

INSTITUTIONAL SUDA

Foreign institutional investors made inflow of 9239 crore in the equity market for the day , Index options witness the highest outflow of Rs 1.2 lakh crore from foreign investors. Meanwhile, mutual funds invest Rs 1,490.2 crore in the equity market over the same period.

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IN-THE-NEWS

Bharat Electronics rises to an all-time high of Rs 170.2 as it receives orders worth Rs 4,878 crore from the Indian Army. The orders involve the supply of fuses for various calibres and electronic warfare systems.

 Titan is rising as its wholly owned subsidiary, Titan North America, announces a strategic investment by acquiring a 10% stake in US-based CueZen for $ 3.5 million (Rs 29 crore) in an all-cash deal.

 Sunflag Iron rises more than 11% as it receives a letter of intent from the Government of Maharashtra for licensing six iron ore blocks. These blocks, spanning 658 hectares, are located in the Gadchiroli district of the state.

Samvardhana Motherson International's board of directors approves the acquisition of a 100% stake in Lumen Group for $93 million by its subsidiary, Samvardhana Motherson Automotive Systems Group BV.

KEI Industries , says there is robust demand in the cables segment compared to wires. He adds that the company’s revenue will grow by 18% in FY24, with margins of around 11%.

Cipla announces an investment of Rs 42 crore in GoAppitiv, a digital tech company, in exchange for equity and convertible preference shares. This will increase Cipla’s stake to 22.9% in GoAppitiv.

 J Kumar Infraprojects  surges more than 6% to touch its all-time high of Rs 482.9 per share as it bags an order worth Rs 582.7 crore. The order is for the construction and maintenance of a four-lane elevated corridor in Chennai.

Infibeam Avenues rises to an all-time high of Rs 24.2 as it acquires a 49% stake in Pirimid Fintech for Rs 25 crore. With this acquisition, the company plans to enter the capital and digital lending market.

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Adani Enterprises rises as Israel's Elbit Systems buys a 44% stake in Adani Defence Systems and Technologies' unit Atharva Advanced Systems and Technologies. The subsidiary will assist Elbit Systems in developing and manufacturing various autonomous aerial technologies.

 Hero MotoCorp is rising as its board approves the acquisition of a 3% stake in Ather Energy for Rs 140 crore from existing shareholders. This increases Hero MotoCorp’s stake from 36.7% to 39.7%.

Sterling and Wilson Renewable Energy surges to its 52-week high of Rs 445.3 per share as it receives a $30.5 million (approximately Rs 254.2 crore) settlement from Jinko Solar.

Jupiter Wagons rises as it bags an order worth Rs 1,617 crore from the Ministry of Railways. The order involves manufacturing and supplying 4,000 railway wagons.

Texmaco Rail and Engineering rises to an all-time high of Rs 179.9 as it bags an order worth Rs 1,374.4 crore from the Ministry of Railways. The order involves manufacturing and supplying 3,400 railway wagons.

Genus Power Infrastructures surges more than 4% as its subsidiary receives a letter of intent (LoI) worth Rs 1,026.3 crore for becoming an advanced metering infrastructure service provider (AMISP). As an AMISP, the company will design an AMI system, including the supply, installation and commissioning of 5 lakh smart prepaid meters.

GAINER  

HCL Technologies Ltd. (1,491.30, 5.42%),

 Persistent Systems Ltd. (7,224.85, 5.33%)

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Tata Consultancy Services Ltd. (3.861.00, 5.28%).

LOSSER  : Max Financial Services Ltd. (973.90, -4.36%),

 Bajaj Holdings & Investment Ltd. (7,969.80, -4.27%)

JSW Energy Ltd. (434.75, -3.60%).

MOVER  WITH VOLUME

JM Financial Ltd. (101.15, 13.52%),

 Zensar Technologies Ltd. (593.60, 10.96%)

Jubilant Pharmova Ltd. (509.95, 10.75%).

 LOSSER WITH VOLUME

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Wam Ltd. (669.95, -5.31%),

Max Financial Services Ltd. (973.90, -4.36%)  

Finolex Industries Ltd. (211.25, -1.05%).

 

IPO ARENA

DOMS Industries' Rs 1,200 crore IPO gets bids for 51.3X the available 87.6 lakh shares on offer on the third day of bidding. The retail investor quota gets bids for 62.8X the available 15.9 lakh shares on offer.

 India Shelter Finance Corp's Rs 1,200 crore IPO gets bids for 16.4X the available 1.8 crore shares on offer on the third day of bidding. The retail investor quota gets bids for 8.4X the available 89.6 lakh shares on offer.

INOX CVA  Rs 1,459.3 crore IPO gets bids for 5.6X the available 1.6 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 6.8X the available 77.4 lakh shares on offer.

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