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Benchmark equity indices closed higher, helped by gains in select heavyweights and renewed optimism that the rate hike cycle has reached its peak after data showed easing inflation and softening labour market in the US. The Sensex rose 0.41% and the Nifty jumped 0.45%.
In broader markets, the Nifty Midcap 100 inched up 0.06% and the BSE Smallcap rose 0.19%.
Top gainers in Nifty 50 index were SBI LIfe [2.77%], HDFC Life [2.38%], Adani Enterprise [2.18%], Hindalco [1.92%], and JSW Steel [1.83%]. Top losers were Coal India [-3.9%], ONGC [-3.36%], BPCL [-1.02%], LTIMindtree [-0.65%], and Tech Mahindra [-0.6%].
Top gainers among Nifty sectoral indices were Metal [1.22%], Realty [1.13%], Media [1.12%], Pharma [1.03%], and Auto [0.49%]. Top losers were PSU Bank [-0.35%], IT [-0.18%], and FMCG [-0.16%].
The Indian rupee ended flat at around 83.35 against the US dollar on Tuesday.
Stock in News Today
Bajaj Finance: The company has announced that the debenture allotment committee of the company has allotted 50,000 secured redeemable non-convertible debentures (NCD), at the face value of Rs 1 Lakh each, aggregating to Rs 503.17 crore. The said NCDs will have a coupon rate of 7.79% per annum, which is payable annually. The NCDs will have have a tenor of 3591 days and their redemption date is 20 September 2033.
Infosys: The IT service company said that it collaborated with Proximus to deliver an IT modernization and consolidation project. The project will see Infosys consolidating key components of the IT stack of a Proximus affiliate into the main IT stack, enabling them among others to offer fiber and new digital services to more of its customers.
KEC International: The global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs 1,005 crore across its various businesses. It has bagged Transmission & Distribution business and cabling projects in India, Middle East, Europe, Africa and America.
Laurus Labs: The company has completed the acquisition of balance 8,333 equity shares from the promoter group shareholders of Laurus Bio on November 20. With this acquisition, the company holds 87.59% shareholding (on fully diluted basis) in Laurus Bio.
TVS Motor: The two-wheeler company announced the launch of TVS NEO AMI 125 in Africa. “Designed for evolving commuting needs, this innovative Bebek is set to delight customers with 72 exciting new features”, the company said in a press release.
Mahindra & Mahindra: The company announced that its has received an order from the Office of the Joint Commissioner, CGST & Central Excise Ujjain Commissionerate, Madhya Pradesh imposing a penalty of Rs 33.95 lakh in relation to the two-wheeler business of Mahindra Two Wheelers Limited (‘MTWL’), which was demerged from MTWL and has since been merged with the company.
Strides Pharma Science: The company announced that its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Levetiracetam Oral Solution USP, from the United States Food & Drug Administration (USFDA). It is used in the treatment of seizures. The Levetiracetam Oral Solution has a market size of about USD 55 million as per IQVIA. The product will be manufactured at the company’s facility in Bengaluru.
Vascon Engineers: The company informed that it has received Letter of Intent from Municipal Secretary’s Department – Pimpri-Chinchwad Municipal Corporation, Pune, of Rs 356.78 crore (excluding GST) for construction of general hospital building for PCMC hospital in Moshi, Pimpri-Chinchwad, Pune (Maharashtra).
Datamatics Global Services: The company said that it has signed an agreement with a US-based firm for digital experiences business. The contract spans over a period of 5 years, and the total client target spend is projected at $36 million.