Post Market Anlaysis: Sensex, Nifty end in green as RIL soars; RIL, Paytm, Airtel in news today

Sensex and Nifty closed higher, led by Reliance, energy stocks, pharma and IT stocks. The Sensex closed 0.78% higher at 58795.09 and Nifty closed 0.70% higher at 17536.25. Reliance Industries soared 6.02% to close at Rs 2492.95.

Top Nifty sectoral gainers were Energy (2.4%), Pharma (1.18%) and IT (0.96%). Top laggards were Auto (-0.54%), Financial Services (-0.22%), Bank (-0.21%).

Indian rupee was down by 12 paise to close at 74.51 against the US dollar on Thursday.

daily update nov25th

Stock in News Today

Reliance Industries Ltd: The energy company will implement a ‘Scheme of Arrangement’ to transfer the ‘Gasification’ undertaking into a wholly-owned subsidiary. The company said that the transfer will help “unlock the value of syngas” and will help the company to progressively transition to renewables as its primary source of energy.

Paytm (One 97 Communications): After the shares of the company fell by over 40%, some of the anchor investors in Paytm’s IPO added to their stakes in the fintech company, Bloomberg reported. BlackRock and Canada Pension Plan Investment Board were among anchor investors in the IPO that bought more Paytm shares on Tuesday and Wednesday, according to sources.

Airtel: The telecom company said it has conducted India’s first 5G trial in the 700 MHz spectrum band in partnership with Nokia. The trial was conducted on the outskirts of Kolkata and it also marked the first 5G trial in the eastern India.

Eicher Motors: The automaker said its Royal Enfield motorcycle unit commenced operations of its exclusive local assembly unit and CKD (Completely Knocked Down) facility in Thailand. In addition to catering to consumers in Thailand, this assembly unit will act as a distribution hub for all other countries in South East Asia, including Indonesia, Vietnam, etc.

ITC: The company has confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated clinical trials. It has been developed by ITC Life Sciences and Technology Centre (LSTC), Bengaluru. ITC is planning to market it under the Savlon brand.

HCL Technologies: The IT major has opened a new facility at Cinnamon Life complex in Colombo, according to a stock exchange filing. HCL said this new facility will be its largest in the country, accommodating 4,000 employees. The company will provide IT services to global clients in the areas of digital applications and system integration services, product development and support, and infrastructure management services including digital workplace solutions.