Stock Market Highlights: Nifty 50 holds 20,100, Bharti Airtel, Axis Bank, top contributors to its upside

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Market Recovers To End Largely In The Green, Nifty Ends Above 20,100

Nifty Bk Snaps 4-day Gaining Streak, HDFC Bk, ICICI Bk Top Contributors To Losses

Nifty Midcap Rally Continues, Hits Record High, Ends Higher For 20th Straight Session

Sensex Rises 87 Points To 66,988 & Nifty 37 Points To 20,133

Nifty Bank Falls 85 Pts To 44,482 & Midcap Index Rises 290 Points To 42,909

Newly Listed Tata Tech Ends More Than 10% Higher, Best Listing Since 2021

Cement Cos Rise, UltraTech Hits Record High, Top Nifty Gainer, Ambuja Up 1%

Eicher Motors Hits Record Highs, Hero Over 6-yr High Intra-day Ahead Of Auto Sales

Def Cos Gain, HAL Up Over 1% On Rpts Of DAC Nod For Domestic Def Equipment Procurement

PSU Insurance Extend Gains, New India Assurance Up 10%, GIC Up More Than 4%%

Nykaa Up 1%, Metro Brands Up More Than 3% On Tie-up With Foot Locker

Market Breadth Favours Advances, Advance-Decline Ratio At 1:1

The shares of GAIL hit a 52-week high of ₹134.20 apiece in the session today. The stock is now trading over 4.5% higher near ₹132-mark. 

The bumper Dalal Street debut of Tata Technologies boosted the Tata Group’s overall market capitalisation to a new high of ₹26.20 lakh crore on Thursday. The stock of engineering unit of Tata Motors rallied as much as 180% on debut and delivered one of the best ever gains for a public offering of its size.

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The board of Vascon Engineers Ltd on Thursday (November 30) gave its approval to the proposal for raising funds up to ₹125 crore via qualified institutional placement (QIP) route.

The company, in a BSE filing, said, “The board has inter-alia approved raising of funds by way of issuance of such number of equity shares having face value of ₹10 each, for an aggregate amount not exceeding ₹125 crores or an equivalent amount thereof by way of qualified institutions placement (QIP) or other permissible mode in accordance with the applicable laws, subject to the receipt of necessary approvals.”

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Trent shares are in the green for the third day today, up 4.27%.

The stock has been in the grene for five out of the last six trade sessions.

The stock has gained 108.29% this year, so far.

Shares of state-run Indian Renewable Energy Development Agency (IREDA) extended gains for the second consecutive session on Thursday (November 30) post listing. The stock gained 15% to hit an intra-day high of ₹68.91 apiece against the previous close of ₹59.99 on BSE.

Investors who got shares of IREDA in its recently concluded maiden offering more than doubled their money as the total gains in the two sessions stood at 115% over the IPO issue price of ₹32. Market cap of IREDA rose to ₹18,010.71 crore today.

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Shares of Varun Beverages are in the green for the second day today, up 3%.

The stock has been in the green for four out of the last five trade sessions.

It has gained 20.2% in the past month and 63.93% this year, so far.

Nuvoco Vistas shares are in the green after a day’s lapse, up 2.4%

The stock has gained 7.7% in the last six months, and is down 1.2% this year, so far.

Route Mobile shares are in the green for the second day, up 1.1%

The stock has gained 28.1% this year, so far.

Tata Motors Shares are in the red today after two days, down nearly 1%.

The stock has gained 78.5% this year, so far.

Here are a couple of stock recommendations by Jay Thakkar of Sharekhan:

– Buy Granules India at a target of Rs 425 with a stop loss of Rs 385
– Buy Eicher Motors at a target of Rs 4,100 with a stop loss of Rs 3,850

 

Aurobindo Pharma Ltd shares gained more than 2% on Thursday after the company announced that its wholly-owned subsidiary Eugia Pharma Specialities Ltd received final approval from the United States Food & Drug Administration (USFDA) to manufacture and market Budesonide Inhalation suspension, 0.5 mg/2 mL Single-Dose Ampule.

Budesonide Inhalation Suspension is indicated for maintenance treatment of asthma and as a prophylactic therapy in children of age 12 months to 8 years.

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SMCP, the parent company of the brands Sandro, Maje, Claudie Pierlot and Fursac, announced its entrance into Indian market in partnership with Reliance Brands Limited (RBL). With this, Reliance Brands will become the exclusive distributor for Sandro and Maje in the market.

Sandro and Maje will open their first stores in the country in 2024. “This new partnership illustrates the pursuit of SMCP expansion, currently in 47 countries, in key markets with high potential of growth,” according to an official release.

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Bajaj Auto shares are in the red after 10 days, down 0.33%.

The stock has 13.85% in the past month, 32.5% in the last six months and 69.35% this year, so far.

India Cements shares are in the green for the fourth day today, up 7.5%.

The stock has gained 20% this month and 12.8% this year, so far.

IREDA shares are in the green again today and up 12% a day after their listing.

SBI Life Insurance shares are trading near their 52-week high of Rs 1,443.50, which it hit earlier today.

The stock has gained 16.36% this year, so far.

Shares of online food delivery giant Zomato Ltd will be in focus in Thursday’s trade as global brokerage firm Citi remains bullish on the counter with a ‘Buy’ rating and a target price of ₹145, implying about 25% upside from the current market levels. At 11:55 am, the scrip was trading 1.46% higher at ₹118.30 apiece on the NSE.

The Zomato stock has corrected approximately 7% since the conclusion of the World Cup. According to Citi, the stock correction could be due to media reports about non-payment of GST on the delivery fee collected by the platform from consumers. The new GST would add ₹5 per order to non-Zomato Gold orders and may further support the adoption of Gold programme loyalty, the foreign brokerage said.

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Poonawalla Fincorp shares are in the green for the third day today, up 5.4%

The stock has 33.23% this year, so far.

Tata Chemicals has cut prices of domestic soda ash for all grades by up to ₹1,500 per tonne due to oversupply in the domestic market.

The Tata Group company reduced the prices of soda ash light by ₹1,000 per tonne. Similarly, the prices of soda ash dense and GRANPLUS were lowered by ₹1,500 per tonne, the company said in a stock exchange filing.

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HDFC Bank shares are trading 1% lower today. The stock is the top contributor towards Nifty 50’s downside, contributing 27.9 points.