Stock Market Highlights | Nifty 50 posts fourth straight weekly gain, Adani, Cipla top gainers

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– Market Ends Flat, Tech Stocks Remains A Major Drag, Nifty Below 19,800
– Broader Mkt Outperforms, HDFC Bk, ICICI Bk Top Contributors To Nifty Bks’ Gains
– Sensex Falls 48 Points To 65,970 & Nifty 7 Points To 19,795
– Nifty Bank Gains 192 Pts To 43,769 & Midcap Index Rises 23 Points To 42,050
– Cipla Top Nifty Gainer On Positive Brokerage Reports, Up More Than 2%
– Most Adani Group Stks End In The Green, Adani-Hindenburg Case Hearing Underway
– PSU Insurance Stocks Rally, New India Insurance Up 20%, LIC Up Nearly 10%
– Paytm Falls More Than 3% After 1.6 Cr Shares (2.56% Equity) Change Hands Via Block
– Gland Pharma Up Nearly 3% After US FDA Clears Pashamylaram Facility
– Nifty Pharma Resumes Uptrend, Ends In The Green For 7 Out Of Last 8 Sessions
– Market Breadth Favours Advances, Advance-Decline Ratio At 1:1

Market This Week
– Market Ends Higher This Week, Sensex & Nifty Rise 0.3% Each
– Midcap Index Rise For 4th Straight Week, Up 0.6%, Nifty Bank 0.5% Higher
– Realty, Metal & Pharma Top Gaining Sectors While PSU Bks, IT Falls The Most
– Hero MotoCorp, Bajaj Auto, BPCL, Divi’s Lab, Bharti Airtel Top Nifty Gainers
– Cipla, ONGC, Coal India, Bajaj Fin Ultratech Cement Are Top Nifty Losers
– SPARC, AB Fashion, Castrol, Bharat Forge, JSW Energy Top Midcap Gainers

Shares of Suzlon Energy are in the green for the second day today, up 3.2%

The stock has gained 312.76% in the last six months.

Ganesha Ecosphere Ltd shares gained more than 4% on Friday after the company announced that its board had approved multiple proposals including raising funds up to ₹350 crore via Qualified Institutions Placement (QIP).

In a stock exchange filing, the company said its board of directors, at the meeting held on November 24, approved the decision to raise funds worth not over ₹350 crore via a Qualified Institutions Placement (QIP) route. This will be done by issuing equity shares having a face value of ₹10 per piece.

Read more here

Public sector undertaking (PSU) insurance companies have seen a very strong rally in the last 15 days. Stocks like New India Assurance and General Insurance Corporation of India (GIC Re) are trading at their highest levels in 52 weeks. Life Insurance Corporation of India (LIC) stock has also gained 10% in the last one week.

New India Assurance has moved up 17% on Friday (November 24), 38% in the last 7 days and as much as 53% in the last 15 days.

Read more here

SPARC shares are inthe green for the second day today, up 7.39%.

The stock has gained 52.88% in the last six months.

V-Mart Retail shares are in the green for the seventh day today, up 4.4%.

The stock has fallen 34.3% this year, so far.

Blue Dart shares are in the green for the second day today, up 3.6%

The stock has gained 14.1% in the last six months, but is down 11.4% this year, so far.

LIC shares are up nearly 10% and in the green for the second day.

The stock has gained 14.2% in the last six months, but is down 4.6% this year, so far.

Gland Pharma has received the Establishment Inspection Report (EIR) from the US drug regulator indicating the closure of the inspection of its Hyderabad facility, the company stated in an exchange filing.

In this residential complex spanning 4.5 acres, the company is offering apartments ranging from two to four bedrooms under the project.

Read more details here

You can track minute-by-minute updates on the Adani-Hindenburg case on our live blog here

Granules India shares are in the green for the second day today, up 3.9%. The stock has gained 20.2% this year, so far.

Brokerage firm Jefferies has made changes to its model portfolio by deploying the cash that it had tactically increased in early September.

Maruti, Power Grid and Marico have been removed from the portfolio and replaced by Eicher, NTPC and Honasa Consumer, the parent company of Mamaearth.

Read more here

Shares of Lupin are trading near their 52-week high of Rs 1,241, which they hit earlier today.

The stock has gained 69.1% this year, so far.

Shares of BHEL are in the green for the third day today, up 7.8%

The stock has gained 91.39% this year, so far.

Shares of Vedant Fashions are in the green for the fourth day today, up nearly 3.1%.

Thes tock has gained 6% in the last six months.

Here are a couple of stock recommendations by technical analyst Mitessh Thakkar:

– Buy Bharat Forge at a target of Rs 1,160 with a stop loss of Rs 1,095
– Buy Ashok Leyland at a target of Rs 186 with a stop loss of Rs 174.5

RailTel Corporation of India Ltd on Friday, November 24, said it has bagged an order worth ₹53 crore from Gujarat Informatics Ltd for the installation and maintenance of ‘state wide Surveillance’ and ITMS project in the state.

The scope of the work involves supply, installation operations, and maintenance of state wide surveillance and ITMS Projects across Gujarat under the flagship programme — Video Integration and State Wide Advance Security-VISHWAS- Phase-II, the railway PSU said in a stock exchange filing.

Read more here

The Initial Public Offering (IPO) of Tata Technologies Ltd., the first IPO from the Tata Group in two decades has now been subscribed 18.33 times as of 11 AM.

Today is the final day to apply for the IPO.

Read more here

Here are a few stock recommendations by Manas Jaiswal of manasjaiswal.com:

– Buy Tata Communications at a target of Rs 1,800 with a stop loss of Rs 1,725
– Buy HAL at a target of Rs 2,225 with a stop loss of Rs 2,140

Shares of Honasa Consumer, parent company of Mamaearth have seen a stellar upmove since the stock announced its quarterly earnings after market hours on Wednesday. But fundamentals are not the only reason that is driving the stock rally.

The stock is up another 13% on Friday after ending in an upper circuit of 20% in Thursday’s trading session.

Read more here

Recommendations by Mitessh Thakkar of earningwaves.com
Buy Glenmark for a target of ₹830 with a stop loss at ₹777
Buy Macrotech Developers for a target of ₹930 with a stop loss at ₹875