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PRE-MARKET REPORT
The domestic market benchmark indices are anticipated to open positively on Monday, with GIFT Nifty up more than 433.3 points from Friday’s close on Nifty Futures amid positive global cues.
The domestic market benchmark indices are expected to open positively during Monday’s trading, with the GIFT Nifty rising over 433.3 points from Friday’s close on Nifty Futures, supported by encouraging global signals
Wall Street closed higher on Friday, with all three major indexes achieving significant weekly gains. Investors confidently responded to data demonstrating strong economic activity in the world’s largest economy.
In November, a key measure of business activity skyrocketed to a 31-month high, fueled by expectations of lower interest rates and more business-friendly policies from President-elect Donald Trump’s administration in the coming year.
Asian stocks experienced a notable rally alongside U.S. equity futures on Monday, marking a positive turn for the markets.
MSCI’s broadest index of Asia-Pacific shares increased by 1.6%. U.S. S&P 500 futures rose by 0.5%, approaching a record high after a 0.3% gain in the cash index at the end of last week. Japan’s Nikkei index saw an impressive rise of 1.6%, and South Korea’s Kospi climbed by 1.5%. Australia’s share market also performed well, gaining 0.7% and reaching a new record high. This overall positive sentiment in the markets reflects an encouraging outlook for investors.
STOCKS TODAY
Adani Group: The Adani Group continues to face scrutiny as its Founder and Chairman, Gautam Adani, along with his nephew Sagar Adani, has been summoned to clarify their position on allegations made by the U.S. Securities and Exchange Commission (SEC). The SEC claims that the Adani leadership facilitated bribes amounting to USD 265 million (approximately ₹2,200 crores) to secure high-value solar power contracts.
Zomato: Zomato’s shareholders have approved a significant capital-raising initiative, with plans to generate ₹8,500 crore through a Qualified Institutions Placement (QIP). This move was sanctioned through a special resolution passed via a postal ballot with remote e-voting. Zomato stated in a regulatory filing that the funds are intended to bolster its balance sheet during a pivotal phase of its business.
CESC: Eminent Electricity Distribution, a wholly-owned subsidiary of CESC, has received a Letter of Intent (LOI) for acquiring a 100 percent stake in an electricity distribution company operating in the Union Territory of Chandigarh. The deal, valued at ₹871 crore, is expected to be finalized within the next 30 days, marking a strategic expansion for CESC in electricity distribution and retail supply.
Rail Vikas Nigam Limited (RVNL): RVNL has secured a Letter of Acceptance (LoA) from Eastern Railway for a major infrastructure project involving earthwork, bridge construction, and railway track laying. This project is valued at ₹837.67 crore. RVNL, which leads the project with a 74 percent stake through its joint venture with SCPL, is expected to execute the work efficiently in line with its robust project management standards.
HDFC Life Insurance Company: Private general insurer ICICI Lombard General Insurance has acquired a 0.19 percent equity stake in HDFC Life Insurance Company. The stake, purchased for ₹233 crore, was transacted in cash during market hours on November 22, 2024, highlighting ICICI Lombard’s strategic interest in HDFC Life’s long-term growth potential.
RITES Limited: RITES Limited has announced revised cost estimates for its ongoing railway electrification project in the Lumding-Badarpur (LMG-BPB) section under the Northeast Frontier Railway (NFR). The revised project cost is now estimated at ₹531.77 crore, excluding GST, reflecting a significant increase from the original ₹288.44 crore. This revision underscores the scale and importance of the project in enhancing railway connectivity in the region.