· Previous Day Market Summary – The equity benchmark Sensex dropped sharply by over 1500 points from its intra-day high, closing below the 80,000 mark, while the Nifty fell nearly 500 points to end below the 24,000 level, driven by profit booking in large-cap sectors such as IT, NBFCs, insurance, and autos. Key stocks like M&M, Infosys, HDFC Life, SBI Life, Bajaj Finance, TCS, Bajaj Auto and other large cap stocks contributed to a 360-point drop in the Nifty, which closed 1.5% lower at 23,914 after reaching an intra-day high of 24,345. The Sensex fell by 1,192 points, or 1.50%, to close at 79,255, from its peak of 80,447. Traders were taking profits due to weakness in global markets and a strong rally in domestic markets in the first half of the week. FIIs were net sellers Rs11756cr while DIIs were net buyers Rs8718cr
· Brokers Radar – Zomato TGT by Jefferies at 335. BPCL TGT by Morgan Stanley at 419. Macquaire TGT on HCL Tech at 2020. PB Fintech TGT by Brenston at 1720. HSBC on Real Estate - Buy on GPL, DLF, PEPL, SOBHA. Hold on OBEROI Hotel. UBS TGT on PAYTM at 1000. Goldman Sachs TGT on Amber Enterprises at 6300. Goldman Sachs TGT on Marico at 720. CITI TGT on Colgate at 3000.
· New IPO - Suraksha Diagnostics price band Rs420-Rs421
· Actionable BUY – Reliance Industries, Pidilite Industries, Zaggle, IOB, Ola Electric, Ircon, BEML,
· IPO listing Today – Enviro Infra Engineers - The IPO of Enviro Infra Engineers will be listing on Friday or 29th Nov – price between Rs140- Rs148 (subscribed 90 times) . Lamosaic India – Stock will be listing today at Rs200 a share. C2C Advanced Systems – stock will be listing today.
· Events Today – GDP, Fiscal Deficit, Foreign Exchange Reserves
· Corporate Action – Dynamatic Technologies Ltd. Interim Dividend Rs 2, Godfrey Phillips India Ltd. Interim Dividend Rs 35, National Aluminium Ltd. Interim Dividend Rs 4, Raghav Productivity Enhancers Ltd. Bonus Issue 1:1, Spright Agro Ltd. Bonus Issue 1:1, Surya Roshni Ltd. Interim Dividend Rs 2.5, Taparia Tools Ltd. Interim Dividend Rs 25, VRL Logistics Ltd. Interim Dividend Rs 5.
· Global Data Today – Consumer Spending, CPI, PPI, Payroll GDP(France). Unemployment Claims Rate(Germany), Net Consumer Credit(, Mortgage Approvals, Money Supply(UK), Japan – Industrial Production, Consumer Confidence, Housing Starts, Retail Sales, CPI, Jobless Rate, India - GDP, Fiscal Deficit, Foreign Exchange Reserves
· Market Summary on Stocks News – FinMin proposes to raise insurance FDI to 100%, composite licence provision, Narayana Healthcare - Devi Shetty sets his heart on UK’s Spire Healthcare. Tilaknagar Industries launches luxury brandy Monarch Legacy Edition, GAIL re-engages with INEOS for revival of PTA manufacturing plant at Mangalore, Adani, Kerala Govt Extend Vizhinjam Port pact for 5 Years. Vardhman Textiles approves capex of Rs 350 crore to increase processed fabric capacity.
· Narayana Healthcare , led by Devi Shetty, is in advanced talks to acquire a controlling stake in UK based Spire Healthcare Group amid a surge in the UK’s private healthcare demand. The Indian medical group aims to secure a 51-75% stake and UK’s largest private hospital by revenue $1.12bn potentially taking the company private, leveraging positive shareholder sentiments and global financing.
· Insurance stocks - The finance ministry has proposed to amend various provisions of the Insurance Act, 1938, including raising foreign direct investment (FDI) in insurance sector to 100 per cent from 74%, reduction in paid-up capital, and provision for composite licence. – positive for insurance stocks – LIC India.
· BSE - The futures and options contracts for 45 stocks will be available for trading with effect from TODAY. Prominent among these names are LIC, Jio Financial Services, BSE, Avenue Supermarts, Adani Energy Solutions, Adani Green Energy, Nykaa, Paytm, YES Bank and Zomato.