Indian equities were under pressure again on Thursday owing to a confluence of factors led by billionaire Gautam Adani’s indictment in a bribery case by US Securities and Exchange Commission (SEC)
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Stock market update: Sugar stocks down as market falls (21-11-2024)
The 30-share BSE Sensex was down 507.08 points at 77071.3
United Spirits shares 0.72% as Nifty (21-11-2024)
A total of 2,452 shares changed hands on the counter till time (IST).
Jindal saw – Another beneficiary of India’s growth story (21-11-2024)
Promoters are showing conviction though. If you ignore the next 1-2 qtr, they have guided for volume and margin growth, which is already good. Debt reduction is in play, tactical capex as well which will unlock volumes. Further, promoter holding, FIIs and DIIs have all increased the stake, public has decreased. Its a matter of time before we a rerating as well. Management has also said they want 15-20% of their revenue from high value add products and not commoditized business and approvals are awaited, could take 1-1.5 years for them to hit it big.
Makes no sense for such a huge cash flow generating machine to trade at such discount, even lower than the intrinsic value. With the 2k crs from NTPC case, and the 1k crs from rights issue resolution, they have 3k crs for potential capex/expansion/acquisition plays, with very little long term debt. All in all, this is a massive ignored underdog being supported by all tailwinds. Budget in Feb will further focus more on water and oil/gas infra (as seen from exploration news)
Godawari Power rises 3% as co to acquire 51% stake in JPL for Rs 255 cr (21-11-2024)
The increase in the Godawari Power & Ispat stock price follows the announcement that its board of directors approved the acquisition of a 51 per cent stake in Jammu Pigments (JPL) for Rs 255 crore
EaseMyTrip.com partners with BNZ Green to promote green travel (21-11-2024)
Through this partnership, EaseMyTrip will integrate BNZ Green’s cutting-edge APIs into its booking platform. All of this will be provided through a seamless sync of a blockchain-based carbon offset program, enabling travellers to purchase carbon credits directly through the platform and receive verifiable certificates stored on a secure blockchain. The users will also have real-time access to carbon emission calculations which will make them aware of their flight’s carbon footprint. In the broader
sense, this initiative would create responsible travellers that are committed to doing their bit for the environment.
Stock market update: Stocks that hit 52-week lows on NSE (21-11-2024)
Adani Ent., Adani Ports SEZ, SBI, IndusInd Bank and NTPC were among the top losers on NSE.
Siemens shares 0.07% as Nifty (21-11-2024)
A total of 1,022 shares changed hands on the counter till time (IST).
Market volatility persists as Nifty dips amid global uncertainty (21-11-2024)
Sensex trades at 76,847.59 as of 9.40 AM, down by 730.79 points or 0.94% and Nifty opened lower at 23,488.45 and is currently at 23,275.30, losing 243.20 points or 1.03%