Last Updated: 28 Nov 2020 10:32 PM

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  • SGX Nifty Up 23 Points; Indicates Flat Opening for Indian Stock Markets


    The SGX Nifty opened on a positive note today.

    At 8:10 am, it�was trading up by 22 points, or 0.2% higher at 13,050 levels.

    Trends on SGX Nifty indicate a flat opening for Indian stock markets.

    Asian stock markets fell slightly today, pulling back from a record high hit earlier this week, amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic.

    As of the most recent prices, the�Nikkei is trading down by 0.3% and the Hang Seng is trading lower by 0.4%.

    US stock markets were closed on Thursday for the Thanksgiving holiday and will trade on a partial schedule later today.

    US stock markets ended mixed on Wednesday as jobless claims were a disappointment, rising more than expected. GDP for Q3 came out in line with expectations, while durable goods orders were stronger than expected.

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    India Rushes to Prepare for a 2-Front War

    A 2-front war is here.

    China and Pakistan seem to be acting in sync... when it comes to attacking India.

    Both countries have increased their military activity in the border region like never before.

    And that's exactly what India is rushing to prepare for.

    In fact, the Indian government has already allocated Rs 90,048 crores for 2020-21 itself.

    Plus, an additional Rs 4 lakh crore would be spent over next 5-7 years.

    This money will secure our borders.� And...it will potentially trigger a mega growth opportunity for a select few Indian defence companies.

    With this flood of money flowing their way... their stock prices could potentially shoot up to record highs in the coming years.

    You can learn everything about this massive opportunity on November 30 at our Explosive Profits Summit.

    At this summit, you will also get the details of what we believe is India #1 defence stock.

    It's a potential 10x opportunity in the long term.

    Click here to sign-up instantly here. It's free.
    ------------------------------

    As of Wednesday's closing prices, the Dow Jones Industrial Average ended down by 0.6% while the Nasdaq ended up by 0.5%, hitting an all-time high intraday.

    European share markets ended flat on Thursday as an extension of coronavirus restrictions in Germany and a grim growth forecast for the United Kingdom brought the focus back to the near-term economic damage caused by the pandemic.

    US stock futures are trading lower today as�AstraZeneca said it would likely need to conduct another study for its coronavirus vaccine.

    This comes after results from its first study raised some concerns. Initial readings from the first late-stage trials showed an average efficacy of 70%.

    Dow futures lost 79 points or 0.3%, while Nasdaq futures are trading down by 7 points.

    Crude oil prices are mixed today in quiet trade due to the US Thanksgiving holiday, with West Texas Intermediate (WTI) dropping more than 1% amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.

    Both benchmarks, WTI and Brent crude have risen about 6% this week, after AstraZeneca earlier announced that its Covid-19 vaccine could be up to 90% effective.

    Back home, Siemens and Laurus Labs will be among the top buzzing stocks today.

    To know the top cues in today's stock market session, check out the pre-open commentary here.

    Stay tuned for more updates on Indian stock markets in the upcoming commentary.



    This article (SGX Nifty Up 23 Points; Indicates Flat Opening for Indian Stock Markets) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • Sensex Ends 110 Points Lower; Smallcap & Midcap Stocks Outperform


    Indian share markets witnessed volatile trading activity throughout the day today and ended marginally lower, ahead of Q2 GDP data.

    Benchmark indices traded on a volatile note, swinging between gains and losses, following muted trends in Asian peers.

    Sentiment was weighed on renewed doubts about a highly-anticipated coronavirus vaccine.

    British drug maker AstraZeneca's coronavirus drug was touted as a "vaccine for the world" due to its inexpensive cost, but the efficacy of the vaccine is now facing more intense scrutiny, which experts say could delay its approval.

    --- Advertisement ---
    India Rushes to Prepare for a 2-Front War

    A 2-front war is here.

    China and Pakistan seem to be acting in sync... when it comes to attacking India.

    Both countries have increased their military activity in the border region like never before.

    And that's exactly what India is rushing to prepare for.

    In fact, the Indian government has already allocated Rs 90,048 crores for 2020-21 itself.

    Plus, an additional Rs 4 lakh crore would be spent over next 5-7 years.

    This money will secure our borders.� And...it will potentially trigger a mega growth opportunity for a select few Indian defence companies.

    With this flood of money flowing their way... their stock prices could potentially shoot up to record highs in the coming years.

    You can learn everything about this massive opportunity on November 30 at our Explosive Profits Summit.

    At this summit, you will also get the details of what we believe is India #1 defence stock.

    It's a potential 10x opportunity in the long term.

    Click here to sign-up instantly here. It's free.
    ------------------------------

    At the closing bell, the BSE Sensex stood lower by 110 points. The NSE Nifty ended down by 18 points.

    Asian Paints was among the top gainers today. Power Grid, on the other hand, was among the top losers today.

    SGX Nifty was trading at 13,069, up by 82 points, at the time of writing.

    The BSE Mid Cap index ended up by 1.9%. The BSE Small Cap index zoomed 2.4%.

    Sectoral indices ended on a mixed note with stocks in the realty sector and consumer durables sector witnessing buying interest. Energy and IT stocks, on the other hand, witnessed selling pressure.

    New: 5 Pandemic-Proof Smallcaps You Should Know About...

    Market participants were also tracking automobile stocks today ahead of the November month sales numbers, which release next week.

    Shares of Cummins India, Tata Motors and TVS Motor Company gained over 5% while Ashok Leyland, Motherson Sumi Systems, Bajaj Auto, Balkrishna Industries, Exide Industries and Amara Raja Batteries from the BSE auto index gained in the range of 3-5%.

    Asian stock markets ended on a positive note. Japan's Nikkei stock average ended at its highest since April 1991 as it rallied for the fourth session in a row, buoyed by hopes of economic recovery and strong corporate earnings, after progress in Covid-19 vaccine development.

    The rally was driven by progress in vaccine-related developments, with many investors expecting their delivery next year.

    Easing US political uncertainty after President-elect Joe Biden's transition to the White House and signs of pick-up in the Chinese economy also lifted sentiment.

    As of the most recent closing prices, the Shanghai Composite ended up by 1.1% and the Hang Seng ended up by 0.3%.

    US stock futures are trading in green. Nasdaq Futures are trading up by 46 points (up 0.4%), while Dow Futures are trading up by 69 points (up 0.2%).

    The rupee is trading at 74.01 against the US$.

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    ------------------------------

    Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster, Rahul Shah, discusses the hype around Adani Green Energy and analyses whether it is justified.

    Shares of Adani Green have seen a meteoric rise and are up almost 10x in the last one year. The company is now the 17th or the 18th largest company in India by market value.

    Rahul discusses whether the company will continue to rise or is it all a big, speculative bubble that can burst any time.

    Tune in to the video to find out more:

    In news from the commodity space, domestic gold and silver prices traded on a flat note today amid weak global trend.

    Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 48,618 per 10 grams.

    In the previous session, gold prices had slipped 0.1% while silver had ended flat.

    So far this week, gold rates in India have dropped nearly Rs 1,700 per 10 gram, in line with a similar fall in global rates.

    In global markets, gold prices edged 0.3% lower to US$ 1,810.44 an ounce.

    For the week, gold remains down over 3% as progress in Covid-19 vaccine development and US President-elect Joe Biden's transition to the White House bolstered risk sentiment.

    Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

    The chart below shows the annual returns on gold over the last 15 years...

    As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

    The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

    In his latest video, India's #1 trader, Vijay Bhambwani, talks about the investment case for gold, now that gold prices have started to fall.

    To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

    In latest developments from the IPO space, the initial public offering of quick service restaurant chain Burger King India will open on December 2.

    The price band for the IPO has been set at Rs 59-60 per share.

    The company is aiming to raise Rs 8.1 billion through the issue which comprises a fresh issue of shares worth Rs 4.5 billion, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte worth Rs 3.6 billion.

    Burger King intends to utilize the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.

    Burger King was the fastest growing international QSR chain in India during the first five years of their operations, based on the number of restaurants. Their master franchisee arrangement provides them with the ability to use Burger King's globally recognized brand name to grow their business in India.

    As per the company's red herring prospectus, the Burger King brand is the second largest fast food burger brand globally as measured by the total number of restaurants, with a global network of over 18,000 restaurants in more than 100 countries and US territories, as of June 30, 2019.

    So far this year, 12 companies have raised nearly Rs 250 billion through IPOs compared with Rs 123.6 billion raised by 16 companies in 2019.

    Some of the companies that had deferred their IPO plans, now want to tap the market again on robust investor appetite.

    How the above IPO sails through remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

    Moving on to stock specific news...

    Shares of gas transmission companies witnessed buying interest today after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure.

    Oil regulator PNGRB has simplified the country's gas pipeline tariff structure to make fuel more affordable for distant users and to attract investment for building gas infrastructure.

    As per reports, the PNGRB has notified regulations for a 'unified' tariff structure for over a dozen pipelines that form the National Gas Grid which will lead to a 20-30% rise in transportation charges paid by users near the source but a reduction for consumers in the hinterland.

    Currently, the tariff is levied in proportion to the distance transported - the longer the distance, the higher is the charge. This resulted in consumers away from the coast paying higher charges as compared to those near it.

    PNGRB has now notified a two-zone tariff structure - Zone-1 will be 300-km from the source of gas (gas field or LNG import terminal) and Zone-II will be beyond that.

    PNGRB said the tariff for the first tariff zone will be 40% of the tariff for the second zone.

    Stocks such as Gujarat Gas, Indraprastha Gas, Mahanagar Gas, Adani Gas and Gujarat State Petronet surged in the range of 9-20% on the back of above news.

    Moving on to news from the IT sector, Vakrangee was among the top buzzing stocks today.

    Shares of the company moved higher by 14% intraday today, surging 28% in the past two trading days, after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment".

    In March 2020, the company had filed Scheme Application with National Company Law Tribunal, Mumbai (NCLT) which is presently pending with NCLT to seek appropriate directions.

    "Since then, there have been substantial changes in business environment in the last few months and the management of the Company is of the opinion that, considering the present scenario, it would not be prudent to proceed with proposed amalgamation of Vakrangee Logistics Private Limited and Vakrangee Finserve Limited with Vakrangee Limited," Vakrangee said in a regulatory filing.

    Vakrangee share price ended the day up by 10.4%.

    To know what's moving the Indian stock markets today, check out the most recent share market updates here.



    This article (Sensex Ends 110 Points Lower; Smallcap & Midcap Stocks Outperform) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • TATA ELXSI Share Price Up by 6%; BSE IT Index Down 0.8%


    TATA ELXSI share price has zoomed 6% and is presently trading at Rs 1,610.

    Meanwhile, the BSE IT Index is at 21,929 (down 0.8%).

    Among the top Gainers in the BSE IT Index today are TATA ELXSI (up 6.3%) and L&T INFOTECH (up 5.4%).

    PERSISTENT SYSTEMS (down 0.6%) and MPHASIS (down 0.9%) are among the top losers today.

    Over the last one year, TATA ELXSI has moved up from Rs 799 to Rs 1,610, registering a gain of Rs 811 (up 100.8%).

    On the other hand, the BSE IT has moved up from 14,967 to 21,929, registering a gain of 6,962 points (up 44.8%) during the last 12 months.

    The top buzzing stocks among the BSE IT Index stocks during this same period were TATA ELXSI (up 100.8%), MINDTREE (up 98.6%) and FIRSTSOURCE SOL. (up 98.1%).

    Last 2 Days: Discover India's #1 Defence Stock

    What About the Benchmark Indices?

    The BSE Sensex is at 44,407 (down 0.3%).

    The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 3.2%), TITAN (up 2.7%) and BAJAJ FINANCE (up 2.4%). Other gainers include TATA STEEL (up 2.3%) and TECH MAHINDRA (up 2.3%). The most traded stocks in the BSE Sensex are TATA STEEL and KOTAK MAHINDRA BANK.

    In the meantime, NSE Nifty is at 13,035 (down 0.3%). The top gainers in the NSE Nifty include TATA MOTORS (up 2.9%), HERO MOTOCORP (up 2.0%) and DIVIS LABORATORIES (up 2.0%). Other gainers include ASIAN PAINTS (up 1.6%) and BAJAJ AUTO (up 1.3%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 40,889 to 44,407, registering a gain of 3,518 points (up 7.92%).

    TATA ELXSI Financial Update...

    TATA ELXSI net profit stood at Rs 789 million for the quarter ended September 2020, compared to a profit of Rs 754 million a year ago. Net Sales rose 1.6% to Rs 4.3 billion during the period as against Rs 4.2 billion in July-September 2019.

    For the year ended March 2018, TATA ELXSI reported 37.3% increase in net profit to Rs 2.4 billion compared to net profit of Rs 1.7 billion during FY17.

    Revenue of the company grew 12.0% to Rs 14 billion during FY18.

    The current Price to earnings ratio of TATA ELXSI, based on rolling 12 month earnings, stands at 32.7x.

    This article (TATA ELXSI Share Price Up by 6%; BSE IT Index Down 0.8%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • NESCO Share Price Up by 5%; BSE REALTY Index Up 2.5%


    NESCO share price has zoomed 5% and is presently trading at Rs 547.

    Meanwhile, the BSE REALTY Index is at 2,075 (up 2.5%).

    Among the top Gainers in the BSE REALTY Index today are NESCO (up 5.5%) and INDIABULLS REAL EST (up 6.5%).

    OMAXE (down 0.4%) and PRESTIGE ESTATES (down 3.2%) are among the top losers today.

    Over the last one year, NESCO has moved down from Rs 615 to Rs 547, registering a loss of Rs 68 (down 11.2%).

    On the other hand, the BSE REALTY has moved down from 2,158 to 2,075, loss of 83 points (down 4.7%) during the last 12 months.

    The top buzzing stocks among the BSE REALTY Index stocks during this same period were GODREJ PROPERTIES (up 29.3%).

    Last 2 Days: Discover India's #1 Defence Stock

    What About the Benchmark Indices?

    The BSE Sensex is at 44,407 (down 0.3%).

    The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 3.2%), TITAN (up 2.7%) and BAJAJ FINANCE (up 2.4%). Other gainers include TATA STEEL (up 2.3%) and TECH MAHINDRA (up 2.3%). The most traded stocks in the BSE Sensex are TATA STEEL and KOTAK MAHINDRA BANK.

    In the meantime, NSE Nifty is at 13,035 (down 0.3%). The top gainers in the NSE Nifty include TATA MOTORS (up 2.9%), HERO MOTOCORP (up 2.0%) and DIVIS LABORATORIES (up 2.0%). Other gainers include ASIAN PAINTS (up 1.6%) and BAJAJ AUTO (up 1.3%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 40,889 to 44,407, registering a gain of 3,518 points (up 7.92%).

    NESCO Financial Update...

    NESCO net profit down at Rs 514 million for the quarter ended June 2020, compared to a loss of Rs 691 million a year ago. Net Sales declined 39.7% to Rs 693.0 million during the period as against Rs 1.2 billion in April-June 2019.

    For the year ended March 2019, NESCO reported 1.0% increase in net profit to Rs 1.8 billion compared to net profit of Rs 1.8 billion during FY18.

    Revenue of the company grew 11.7% to Rs 4 billion during FY19.

    The current Price to earnings ratio of NESCO, based on rolling 12 month earnings, stands at 15.6x.

    This article (NESCO Share Price Up by 5%; BSE REALTY Index Up 2.5%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • J.B.CHEMICALS Share Price Up by 6%; BSE HEALTHCARE Index Up 1.0%


    J.B.CHEMICALS share price has zoomed 6% and is presently trading at Rs 1,006.

    Meanwhile, the BSE HEALTHCARE Index is at 20,425 (up 1.0%).

    Among the top Gainers in the BSE HEALTHCARE Index today are J.B.CHEMICALS (up 5.6%) and PROCTER & GAMBLE HEALTH (up 8.8%).

    SUN PHARMA (down 0.1%) and PFIZER (down 0.3%) are among the top losers today.

    Over the last one year, J.B.CHEMICALS has moved up from Rs 389 to Rs 1,006, registering a gain of Rs 616 (up 158.4%).

    On the other hand, the BSE HEALTHCARE has moved up from 13,591 to 20,425, registering a gain of 6,834 points (up 49.5%) during the last 12 months.

    The top buzzing stocks among the BSE HEALTHCARE Index stocks during this same period were LAURUS LABS (up 372.3%), GRANULES INDIA (up 213.5%) and J.B.CHEMICALS (up 158.4%).

    Last 2 Days: Discover India's #1 Defence Stock

    What About the Benchmark Indices?

    The BSE Sensex is at 44,407 (down 0.3%).

    The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 3.2%), TITAN (up 2.7%) and BAJAJ FINANCE (up 2.4%). Other gainers include TATA STEEL (up 2.3%) and TECH MAHINDRA (up 2.3%). The most traded stocks in the BSE Sensex are TATA STEEL and KOTAK MAHINDRA BANK.

    In the meantime, NSE Nifty is at 13,035 (down 0.3%). The top gainers in the NSE Nifty include TATA MOTORS (up 2.9%), HERO MOTOCORP (up 2.0%) and DIVIS LABORATORIES (up 2.0%). Other gainers include ASIAN PAINTS (up 1.6%) and BAJAJ AUTO (up 1.3%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 40,889 to 44,407, registering a gain of 3,518 points (up 7.92%).

    J.B.CHEMICALS Financial Update...

    J.B.CHEMICALS net profit down at Rs 509 million for the quarter ended March 2020, compared to a loss of Rs 622 million a year ago. Net Sales rose 8.3% to Rs 4.2 billion during the period as against Rs 3.9 billion in January-March 2019.

    For the year ended March 2018, J.B.CHEMICALS reported 24.8% decrease in net profit to Rs 1.4 billion compared to net profit of Rs 1.8 billion during FY17.

    Revenue of the company grew 3.3% to Rs 14 billion during FY18.

    The current Price to earnings ratio of J.B.CHEMICALS, based on rolling 12 month earnings, stands at 31.3x.

    This article (J.B.CHEMICALS Share Price Up by 6%; BSE HEALTHCARE Index Up 1.0%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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