The Indian stock market experienced robust, widespread buying on Monday, November 17, in spite of unfavorable global signals. Favorable Q2 outcomes and optimism surrounding a potential India-US trade agreement have enhanced investor confidence. The Sensex recorded its sixth consecutive day of increases, rising by 388 points, or 0.46%, to close at 84,950.95. Meanwhile, the Nifty 50 increased by 103 points, representing a 0.40% rise, closing at 26,013.45.
“The market has sustained its positive trajectory, remaining close to the crucial psychological threshold of 26,000, as investors look forward to a significant catalyst for additional upward progress.” A potential trade deal continues to be a key factor that stakeholders are attentively observing. “Currently, the risk-reward ratio is largely favorable, bolstered by stronger-than-expected Q2 earnings from Midcaps, which have reinforced confidence in growth revival and point to potential future earnings upgrades,” said Vinod Nair.
Stocks to Monitor :
- Reliance Industries has secured an exclusive distribution agreement with Germany’s cosnova Beauty to launch the essence brand in India.
- Paytm, SAIF III Mauritius, SAIF Partners, and Elevation Capital are anticipated to divest a total of 2% stake in the company via a block deal.
- Tata Power Renewable Energy Ltd, a subsidiary of Tata Power, announced on Monday the successful completion of the commissioning of NHPC’s 300 MW solar project under an EPC (Engineering, Procurement, and Construction) contract.
- Emcure Pharma is anticipated to divest up to 2% of its total equity through a block deal, with a suggested floor price of Rs 1,296.51 per share.
- HCL Tech has established an innovation lab in Santa Clara, California, in collaboration with Nvidia. The facility aims to assist enterprises in testing, developing, and expanding practical applications of physical AI and cognitive robotics.
- JSW Energy, Pritesh Vinay has tendered his resignation as Director and has declared his intention to depart from the Board to pursue career opportunities outside of the JSW Group.
- WPIL announced on Monday, November 17, that its South African subsidiary has secured a Rs 426 crore contract from Matla a Metsi Joint Venture, with the project expected to reach completion within four years.
- KEC International disclosed on Monday that it has secured new orders amounting to Rs 1,016 crore across various sectors. The civil division secured contracts within the Buildings & Factories (B&F) segment from its current clientele.
- KPI Green On Monday, disclosed that it has entered into contract agreements with state-run SJVN Ltd for a Rs 696.50 crore project aimed at constructing a 200 MW (AC) solar power plant at the GIPCL Renewable Energy Park in Khavda, Gujarat.
- AstraZeneca Pharma and Sun Pharma have announced the establishment of a second brand partnership concerning Sodium Zirconium Cyclosilicate (SZC) in India.
- SBI Shares are anticipated to attract attention. The bank is currently in discussions with the government regarding a credit guarantee scheme aimed at supporting risky, new-age sectors, as stated by its managing director, Ashwini Kumar Tewari, on Monday. SBI is advocating for the integration of green finance into the priority sector lending mandate; however, Tewari noted that both the RBI and the government are resistant to this proposal due to concerns about potential crowding-out effects on other sectors.
- Mphasis is anticipated to divest a 9.5% stake in Mphasis through block deals. Reports indicate that the deal’s size will amount to Rs 4,626 crore. The floor price has been established at Rs 2,570 per share, reflecting a 4.4% discount to the last traded price.
- Exide Industries announced on Monday that it plans to begin production at its lithium-ion cell facility by the end of FY’26, with equipment installation and commissioning currently in the final stages. The company has indicated that it is currently engaged in advanced discussions with major two-wheeler original equipment manufacturers (OEMs) regarding these batteries, with two of them expected to emerge as its initial customers. During its most recent post-earnings analysts’ call, the management indicated that the initial production will focus on a “NCM-based cylindrical cell line” specifically designed for two-wheeler applications. The upcoming launch will feature a prismatic LFP line aimed at stationary applications, it stated.
- PhysicsWallah’s shares are set to debut on the stock exchanges today. The initial public offering of edtech unicorn PhysicsWallah achieved full subscription on the final day of the initial share sale.
- Puravankara has leased approximately 1.2 lakh sq ft of retail space to Swedish furniture retailer IKEA in Bengaluru. In a regulatory filing on Monday, the company announced that it has entered into an Agreement to Lease (ATL) with IKEA India for the leasing of two floors of retail space at the Purva Zentech Park, situated on Kanakapura Road, Bengaluru. The project encompasses a mixed-use commercial development featuring approximately 9.6 lakh square feet of leasable and saleable space. The project is presently in the construction phase and is projected to reach completion by early 2026. IKEA India will utilize over 1.2 lakh square feet of leasable area across two floors, as stated.
- Blackbuck,a recent report indicates that three shareholders are poised to divest up to a 2% stake in the company, valued at Rs 240 crore, through block deals. The report indicated that the base price will be Rs 670 per share.