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Market Opening - An Overview
GIFT Nifty Futures on the NSE IX was trading 0.01% lower at 19,805.5, signalling that Dalal Street was headed for a muted start on Tuesday.
Asian shares were mixed as investors awaited for fresh clues on the US Federal Reserve’s interest rate path. The Hang Seng rose 1.09% and the CSI 300 index jumped 0.67%. Meanwhile, Japan’s Nikkei 225 index fell 0.15% and the Topix fell 0.35%.
The Indian rupee fell 6 paise to 83.34 against the US dollar on Monday.
FII/DII Trading Data
Foreign institutional investors were net seller of shares worth Rs 645.72 crore, while domestic institutional investors bought Rs 77.77 crore worth of stocks on November 20, according to provisional data from the National Stock Exchange.
Stocks in News Today
State Bank Of India (SBI): The central government has appointed Vinay M Tonse as the Managing Director of the State Bank of India till November 30, 2025, reported CNBC-TV18. Earlier, Tonse was serving as the Deputy Managing Director at the PSU bank.
Tata Power: The compnay’s subsidiary, Tata Power Renewable Energy (TPREL), has crossed the 1.4 GW capacity of group captive projects in the last seven months. With these developments, TPREL’s overall renewables capacity as of October 2023 has touched 7,961 MW.
Adani Enterprises: The company said Mumbai Travel Retail, a subsidiary of Adani Enterprises, has incorporated a wholly-owned subsidiary, MTRPL Macau Ltd., for the purpose of bidding of the tender of Duty-Free Liquor & Tobacco Shops at Macau International Airport.
ABB India, Titagarh Rail Systems: ABB India has formed a strategic partnership with Titagarh Rail Systems for the supply of propulsion systems for metro rolling stock projects in India. Under the partnership, Titagarh will purchase ABB propulsion systems including traction converters, auxiliary converters, traction motors and TCMS software. It also includes securing the manufacturing rights and production license for traction motors along with the complete transfer of technology of the GoA 4 (Driverless metro) TCMS software from ABB to Titagarh.
Tech Mahindra: The company said that Tech Mahindra Americas signed a collaboration deed with NEOM Tech and Digital Company for providing digital services that support the cognitive foundation of cities and communities. It will incorporate a new subsidiary (JVCo) for providing product and platform development services, platform and product engineering services and solutions, network services, metaverse services and solutions, intellectual property development services, and cognitive solutions and services.
ICICI Lombard General Insurance: The company appointed Sanjeev Mantri as the MD and CEO for a period of five years effective December 1, 2023 to November 30, 2028.
Karnataka Bank: The bank has entered into a strategic corporate tie-up with HDFC Life Insurance Co. to offer life insurance products to its customers. Through the partnership, it plans to provide quality life insurance products to customer who wants financial security and life protection.
IRCTC: The company said that Ministry of Railways has permitted the company to go for long term tenders for the period of 7 years (5+2 years) subject to satisfactory performance on completion of initial 5 years term, through clustering of trains. Separately, the company’s Rail Neer plant has commenced commercial production, and the production capacity of the plant is 72,000 litres per day.
RateGain Travel Technologies: The company announced the closure of the qualified institutions’ placement (QIP) issue and approved the issue of 93.31 lakh equity shares at a price of Rs 643 per share, which is at a discount of 4.97% to the floor price.
Container Corp.: The company and Indraprastha Gas Limited (IGL) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up LNG/LCNG infrastructure within the premise of CONCOR terminals. This strategic partnership aims to revolutionize the logistics sector replacing diesel with natural gas.
Manappuram Finance: The Reserve Bank of India imposed a monetary penalty on Manappuram Finance of Rs 42.78 lakh for non-compliance with certain provisions of the ‘NBFCs – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’
Satin Creditcare Network: The company’s board of directors has approved the issuance of 5,000 non-convertible debentures having a face value of Rs 1 Lakh each with a green shoe option of 2,500 non-convertible debenture.
Vascon Engineering: The company has received a letter of intent from Pimpri Chinchwad, Municipal Corporation, Pune to construct a general hospital building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune for Rs 356.78 crores.
Oberoi Realty: The real estate firm has launched Forestville by Oberoi Realty, the first luxury residential project in Kolshet, Thane. The company has launched the first phase of this development consisting of 3 towers.
Kirloskar Electric: The company said the management has withdrawn the lockout at the company’s unit No. 15 situated at Bhudihal, Nelamangala taluk, Bengaluru Rural District with effect from November 20. Further, the management has requested all workmen through labour union to report to work.
HCKK Ventures: The software and services provider has announced the merger of Softlink Global, a global leader in logistics technology solutions, with HCKK, subject to the market regulator’s approval. HCKK Ventures will acquire Softlink at an approximate valuation of Rs 430 crore with an aim of maximizing the potential of both businesses and enhancing value for shareholders, customers, and employees.