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POST MARKET
Indian equity indices ended on a positive note on November 27, following rising expectations of a rate cut by the Federal Reserve and the Reserve Bank of India in their December policy meetings and a possible Russia-Ukraine peace deal.
At close, the Sensex was up 110.87 points or 0.13 percent at 85,720.38, and the Nifty was up 10.25 points or 0.04 percent at 26,215.55. About 1900 shares advanced, 2073 shares declined, and 167 shares were unchanged.
On the sectoral front, except media, IT, and Private Bank, all other indices ended in the red with oil & gas, realty, consumer durables, and energy down 0.5% each.
Bajaj Finance, HUL, Bajaj Finserv, ICICI Bank, and Shriram Finance were among the major gainers on the Nifty, while losers were Eicher Motors, ONGC, Eternal, Maruti Suzuki, and Bajaj Auto.
Among the broader market indices, the BSE Midcap index ended flat, while the smallcap index fell 0.4%.
STOCKS TODAY
Cartrade Tech
The shares of CarTrade Tech dropped more than 3.5 percent after the firm announced that its proposed acquisition of its rival CarDekho would not materialise as both sides agreed to call off talks. The disclosure ends months of talks around what would have been one of India’s largest consolidation moves in the auto-tech space.
Ashok Leyland
Ashok Leyland shares went up, rising as much as 6.67 percent after its subsidiary Hinduja Leyland Finance Ltd (HLFL) approved a merger with real estate firm NDL Ventures. The stock has now gained 43.23 percent year-to-date. According to an exchange filing, shareholders of NDL Ventures will receive 25 shares for every 10 shares of Hinduja Leyland Finance under the proposed scheme.
GMDC
Shares of Gujarat Mineral Development Corporation (GMDC) jumped over 4.83 percent, extending the strong momentum seen this week following the approval for a large rare earth incentive scheme. The stock has now risen 14 percent over the past two sessions and is up about 71 percent so far this year.
Patel Engineering
Shares of Patel Engineering jumped 12.66 percent after the company got orders worth Rs 798 crore from Hyderabad-based Saidax Engineers and Infrastructures. The company received two Letters of Intent for excavation and transportation of coal at a project located at Jhiria West OCP of Hasdeo Area, Bilaspur, in Chhattisgarh and for South Eastern Coalfields Ltd.
Source – Money Control