Markets managed to end with gains after initial hiccups and continued to remain 1% away from the all-time high in Sensex terms with 67,532 turning out to be an important hurdle. The Sensex carries high importance in terms of levels as changes were less frequent in Index components. In the past few days, markets have already rallied ahead of The sustained breakout in India VIX suggests aggressive hedging prevailing in market and it remains a major cause of concern as long India VIX trades above 11.90.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Reliance/ONGC – Windfall tax on Crude cut by 1pct to Rs. 5,000/t.
- Ultratech/Kesoram – Ultratech to issue 1 share for 52 kesoram shares.
- Hal – DAC approves procurement of its light combat helicopte.
- Airlines – Jet fuel (ATF) price cut to Rs 1.06 lk/kl from Rs. 1.11 lk/kl in Delhi.
- Sterling & Wilson – Will pay Rs. 3,428 mn claimed under indemnity agreement in next few biz days.
- Power Grid – Successful bidder for two inter-state transmission system projects.
- ITD Cementation – Gets new order worth Rs. 10 bn in Andhra Pradesh.
- Protean eGov – Q2 sales increased by 6.9 pct, profit up by 1.8 pct QoQ.
- SIS – Board approves buyback up to Rs. 900 mn at Rs. 550/sh via tender offer.
- LTI Mindtree – Partners with Metasphere to deliver smart sewers solution.
- Defence Companies – DAC approves Rs 2.23 lk cr capital acquisition proposals.
- Dixon – Padget Electronics subsidiary inaugurated a new state-of-the-art smartphone manufacturing plant in the Noida district, UP.
- Biocon – Announced completion of integration of the Viatris’ Biosimilars business in 31 European countries.
Negative Read through
- Moil – Prices of all Ferro grades cut by 5 pct effective December 1.
- SRF – Brokerage maintains ‘Avoid’ Call on mixed commentary in analyst meet.
- Whirlpool – Parent company to cut stake by 24 pct from 75 pct to repay its debt.
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