Stock Market Highlights: Sensex falls 106 points to 80,004 and Nifty 27 points to 24,195

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– Sensex falls 106 points to 80,004 & Nifty 27 points to 24,195
– Midcap index gains 14 points to 55,914 while Nifty Bank falls 16 points to 52,192
– All Adani Group stocks end lower following rating agencies’ actions
– Auto stocks amongst top Nifty losers ahead of monthly data, index falls 1%
– Shriram Finance moves higher with healthy volumes, stock rises 3% in the last hour
– BEL & HAL rise up to 2% each after JPMorgan gives positive note on defence companies
– FMCG companies (Britannia, Asian Paints, Bata & Berger Paints) move higher, rise up to 2%
– Zomato gains more than 2% as company’s ₹8,500 crore qualified institutional placement (QIP) opens
– Vodafone Idea rises 7% on reports of cabinet nod for bank guarantee waiver
– Hitachi Energy surges 5% after joint venture with BHEL gets letter of intent (LoI) for a project from Power Grid
– Emcure Pharma gains nearly 5% after Kotak upgrades the stock to ‘add’
– New India Assurance gets income tax refund of ₹1,945 crore for AY13-20, stock up 5%
– Swiggy rises more than 4% after UBS initiates coverage with a buy call
– Letter of award (LoA) for a project worth ₹1,391 crore from NHAI helps Ashoka Buildcon rise 3%
– LT Foods ventures into UAE, to invest approximately ₹415 crore, stock rises more than 2%
– Angel One surges 4% in the last hour after company gets SEBI nod to begin mutual fund business
– Market breadth favours advances, advance-decline ratio at 3:2

Ratings agency Moody’s has revised the outlook on seven Adani Group companies to negative following the indictment of Adani Group Chairman Gautam Adani and several other group executives by the US SEC and a District Court.

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Waaree Energies Ltd. on Tuesday, November 26, informed that the company has received an order for the supply of modules upto 600 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.

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Adani Enterprises Ltd. and Wilmar International Ltd. are considering delaying a proposed sale of at least 12% in their Indian food venture after a US bribery indictment against the billionaire-founder Gautam Adani, according to people familiar with the matter.

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Motilal Oswal Mutual Fund (MOMF) has announced the launch of its new fund offer, the Motilal Oswal Nifty Capital Market Index Fund. The NFO opens today, November 26, and will close on December 10, 2024.

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The Nifty Realty index is up another 1% in Monday’s trading session, extending its gain for the seventh day running. With today’s move, the index has rallied over 45% from its 52-week low of 717.30.

For today’s session, five out of the 10-pack index constituents are trading with gains.

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Here are a couple of stock recommendations by Shilpa Rout, Prabhudas Lilladher:

Buy BPCL for a target price of ₹320-340 with a stop loss of ₹280
Buy Godrej Consumer Products for a target price of ₹1,280-1,300 with a stop loss of ₹1,200

The Nifty 50 index is now trading 0.32% in the red at 24,144.25. As many as 28 index stocks are in the red, while 21 others advance. One stock is trading unchanged. Adani Enterprises (-4.80%), Adani Ports (-3.90%) and Ultratech Cement (-2.98%) are the top losers. On the other hand, Shriram Finance (2.52%), Britannia (2.21%) and Asian Paints (2.04%) are the top gainers.

Shares of Hitachi Energy India Ltd. are trading with gains of 6% on Tuesday after the company, in a consortium with BHEL won an order from Power Grid, a state-run company.

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Here are a couple of stock recommendations by Sneha Seth of Angel One:

Buy TVS Motor Company for a target price of ₹2,600 with a stop loss of ₹2,380
Buy Federal Bank for a target price of ₹224 with a stop loss of ₹205

Shares of Cochin Shipyard Ltd. are locked in the 5% upper circuit for the second consecutive day on Tuesday, November 26. Mazagon Dock Shipbuilders Ltd. and Garden Reach Shipbuilders Ltd. too are trading with gains of 3% and 8% each.

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Shares of Hitachi Energy India Ltd. are trading with gains of 6% on Tuesday after the company, in a consortium with BHEL won an order from Power Grid, a state-run company.

The order pertained to design and execute the 800kV, 6,000 MW and 1,200 km HVDC terminal stations to transmit renewable energy from Khavda in Gujarat to Nagpur in Maharashtra.

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The diagnostic chain has set a price band of ₹420 to ₹441 per share for its ₹846.25 crore issue. Investors can bid for 34 shares in one lot and in multiples thereafter.

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Here are a couple of stock recommendations by Sacchitanand Uttekar of Tradebulls:

Buy Interglobe Aviation for a target price of ₹4,380 with a stop loss of ₹4,210
Buy Oracle Financial Services Software for a target price of ₹12,630 with a stop loss of ₹ 11,820

Brokerage firm Kotak Institutional Equities has upgraded shares of Emcure Pharmaceuticals to “buy” from its earlier rating of “Add.”

The price target for the recently listed drugmaker has been left unchanged at ₹1,680, which implies a potential upside of around 20% from Monday’s closing levels.

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Adani Green Energy isued a clarification on Tuesday to the exchanges, stating that there will be no material impact on the company’s operations or its growth plans as there are no new financial commitments under consideration with TotalEnergies.

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Here are a few stock recommendations by Mitessh Thakkar of earningwaves.com:

Buy L&T Technology Services (LTTS) for a target price of ₹5,600 with a stop loss of ₹ 5,400
Buy Shree Cement for a target price of ₹26,400 with a stop loss of ₹25,000
Buy Indus Towers for a target price of ₹348 with a stop loss of ₹332
Sell MCX for a target price of ₹6,000 with a stop loss of ₹6,180

Adani Green says it has no new financial commitment under discussion with TotalEnergies

CNBC-TV18 accesses #USFDA observations for #Cipla’s Bengaluru Unit ???? pic.twitter.com/Q7LxlcOk18

— CNBC-TV18 (@CNBCTV18Live) November 26, 2024

The upmove in the stock price was seen after Union Cabinet approved a waiver of bank guarantees for telecom companies, marking a significant step toward easing the financial burden on the sector, with Vodafone Idea expected to be one of the key beneficiaries.

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Swiggy shares are up 5% after UBS initiated ‘buy’ call on company with a price target of ₹515.

The brokerage wrote in its note that Swiggy is well positioned for growth at 35% discount to Zomato.

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Mazagon Dock Shipbuilders is up over 3% after JPMorgan initiated ‘neutral’ call on company

Nifty HIT hit a record high of 44,240.55 today.

Infosys, Persistent Systems, LTIMindtree are the top Nifty IT gainers.

All 10 stocks in the index are trading with gains.

Brokerage firm JPMorgan has initiated coverage on three defence stocks – Bharat Electronics Ltd. (BEL) the latest entrant to the Nifty 50, along with Hindustan Aeronautics Ltd. (HAL) and Mazagon Dock Shipbuilders Ltd.

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