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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Todays Market
- Indian Stock Market News November 22, 2023
Gift Nifty Up 35 Points | Tata Technologies IPO | KEC International Bags New Order | Top Buzzing Stocks Today Wed, 22 Nov Pre-Open
On Tuesday, Indian share markets continued the momentum as the session progressed and ended the day higher.
Benchmark indices snapped their 3-day losing run as gains in heavyweights like Titan, Reliance Industries, HDFC Bank, ICICI Bank, Airtel, and Tata Steel supported sentiment.
At the closing bell on Tuesday, the BSE Sensex stood higher by 276 points (up 0.4%).
Meanwhile, the NSE Nifty closed higher by 89 points (up 0.5%).
Adani Enterprises and Hindalco were among the top gainers.
Coal India and ONGC, on the other hand, were among the top losers.
Broader markets ended on a positive note. The BSE Midcap index ended marginally higher and the BSE SmallCap index ended 0.2% higher.
Sectoral indices ended mixed with stocks in the realty sector and auto sector witnessing buying. Meanwhile, the stocks in the oil and gas sector and energy sector witnessed selling pressure.
Shares of Bajaj Auto and Tata Investment hit their 52-week high on Tuesday.
The rupee was trading at 83.36 against the US$.
Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 60,917 per 10 grams at the time of Indian market closing hours on Tuesday.
At 7:55 AM today, the Gift Nifty was trading 35 points or 0.2% higher at 19,865 level.
Indian share markets are headed for a positive opening today following the trend on Gift Nifty.
Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah talks about taking more exposure to stocks right now or waiting for the markets to correct, in his latest video.
Tune in for more.
Top buzzing stocks today
Talbros Automotive share price will be in focus today.
Talbros Automotive extended its gains from the previous session on 21 November, jumping 16.4% after the company received Rs 5.8 bn worth of orders from international and domestic customers.
The orders received are across its business divisions, including export orders of Rs 4.2 bn and multiple EV orders for Rs 2.7 bn from leading original equipment manufacturers (OEMs).
Tech Mahindra will also be a top buzzing stock.
Shares of Tech Mahindra gained nearly 1% in early trade on 21 November, after the company entered into a collaboration deed with NEOM Tech and Digital Company, known as TONOMUS.
IT major Tech Mahindra announced a significant collaboration with NEOM Tech through its material subsidiary Tech Mahindra.
Tata Technologies IPO Opens Today
The Tata Group is launching the initial public offering (IPO) of Tata Technologies on 22 November. The bidding for the IPO will remain open till 24 November 2023, and thus, Tata Technologies IPO will open on Wednesday this week, and it will remain open for bidders till Friday.
The price band of the IPO has been fixed at Rs 475 to Rs 500 per share. This valuation places the Tata Group company at over Rs 202.8 bn, calculated based on the upper price band of the IPO.
The shares of Tata Technologies Ltd are available at a premium of Rs 352 in the grey market today, which is unchanged as it is Rs 17 lower from its weekend GMP of Rs 369 per share.
Tata Technologies IPO applicants will apply in lots, and one lot of the public issue would comprise 30 company shares. So, a retail investor would require at least Rs 15,000 ( Rs 500 x 30) to apply for this much-awaited public issue.
With its proven track-record and strong lineage, will Tata Technologies tread on a similar path like Tata Elxsi and KPIT Technologies? For more, check out our editorial Tata Technologies IPO: Should You Apply?
Why Adani Enterprises' Share Price Is Rising
The Adani Enterprises stock jumped around 3% yesterday after its step-down subsidiary, Mumbai Travel Retail Pvt, incorporated its wholly-owned subsidiary, MTRPL Macau.
The company has been incorporated for bidding for duty-free liquor and tobacco shops at Macau International Airport.
Mumbai Travel Retail holds 100% of the share capital of MTRPL Macau and has an authorised share capital of MOP 25,000 (Rs 250,000).
The registration process for MML was completed on 20 November. The new company adds to Adani Group's diverse portfolio.
India's two richest men, Mukesh Ambani and Gautam Adani, are locked in a race for the top spot. For more, check out Adani vs Ambani - All Your Questions Answered.
For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.
Dig deeper into Adani group stocks.
KEC International New Order Win
On 21 November, the company secured orders worth Rs 10.1 bn across its various businesses.
The railways business has secured an order for 25 kV Overhead Electrification (OHE) and associated works in the conventional segment in India.
The cable business has secured orders for the supply of various types of cables in India and overseas.
Our transmission and distribution (T&D) business has recently secured orders for various T&D and cabling projects across different regions including India, the Middle East, Europe, Africa and the Americas.
These projects include 220 and 400 kV overhead transmission lines in the Middle East, 110 kV transmission lines in Europe, and the supply of towers in the Middle East, Africa, and the Americas.
It also received the contract for the supply of hardware and poles in the Americas and 220kV cabling works in India from a global steel producer.
In October, the company secured orders worth Rs 13.2 bn across various businesses.
In September, it bagged a prestigious turnkey project of Rs 11.5 bn in its T&D business for the design, supply and installation of a 380 kV overhead transmission line in the Kingdom of Saudi Arabia (KSA).
India is home to many prominent engineering companies that cater to a wide range of sectors. From infrastructure to automobiles, these companies are known for their innovative solutions and quality services.
For more, check out top engineering companies in India that are driving the country's growth and development.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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