Sensex Today | Share Market Live Updates: Markets in the green; Adani Enterprises leads gainers

At 1 pm the Sensex was up 345.42 points or 0.53% at 66,000.57, and the Nifty was up 114.20 points or 0.58% at 19,808.20.

India is closing in on an agreement with Tesla Inc that would allow the US automaker to ship its electric cars to the country from next year and set up a factory within two years, Bloomberg reports, citing people familiar with the Indian government’s thinking.

Suzlon Energy’s stock fell around 5% to hit the lower circuit ahead of an investor meet later today. The stock hit a 52-week high of ₹44 on 17 November.

Som Distilleries has received permission from the Excise Department to expand beer capacity at its Hassan plant.

Suzlon Energy’s stock is in the red for the second day, down 4.2% today. The stock has been red-hot in the past six months, gaining 329.2%.

Shares of Talbros Automotive Components have rallied another 16.7% today to ₹328.60 after gaining 20% in the previous session. The remarkable uptick could be attributed to the company’s string of order wins. On Monday it announced that it received new multi-year orders worth ₹580 crore from both domestic and overseas customers across its businesses and joint ventures. Read more.

“The range-bound movement of the market is likely to be broken with an upward move soon. The global cues are supportive [of this]. Softening US bond yields (the 10-year yield is at 4.41%) will provide the macro backdrop for a market rally. The market is likely to wait till the state elections outcome is known. Weakening Chinese growth prospects will weigh on commodities. Financials, particularly NBFCs, beaten down by the RBI decision to hike the risk weightage on unsecured loans, present a long-term buying opportunity.”

CNBC-TV18 is reporting that the government has appointed Vinay M Tonse as managing director o f the State Bank of India. He is currently the deputy managing director of SBI.

Tata Technologies will conduct its initial public offering (IPO) from Wednesday to Friday. The price band of the IPO has been fixed at ₹475 to ₹500 a share, valuing the Tata Group company at more than ₹20,283 crore based on the upper price band. Shares of Tata Technologies Ltd are available at a premium of ₹352 on the grey market today.

At noon the Sensex was up 276.35 points or 0.42% at 65,931.50, and the Nifty was up 91.80 points or 0.47% at 19,785.80.

The US Department of Justice is seeking more than $4 billion from Binance Holdings, the world’s largest cryptocurrency exchange, as part of a proposed resolution of a years-long investigation into the company.

CRISIL Ratings has revised its outlook on the long-term debt instruments and bank facilities of IIFL Finance from ‘stable’ to ‘positive’, and has reaffirmed the long-term rating at ‘AA’ and short-term rating at ‘A1+’.

Tata Steel’s stock rose over 1% on Tuesday after Jefferies maintained a positive outlook on the company. Jefferies analysts expect Tata Steel’s India margins to expand in the December quarter and Tata Steel Europe’s losses to narrow by the March quarter. The brokerage sees an upside of up to 40% in a bullish scenario.

Indian government bond yields fell in early trading on Monday as investors took comfort from easing US peers, with focus turning to a weekly sale of state debt. The 10-year benchmark bond yield was at 7.2415% at 10.05 am after ending the previous session at 7.2575%.

At 11 am the Sensex was up 249.31 points or 0.38% at 65,904.46, and the Nifty was up 80.50 points or 0.41% at 19,774.50.

The rupee recovered from its record closing low levels and appreciated 2 paise to 83.32 against the US dollar in morning trade on Tuesday, tracking the weakness of the American currency in the overseas market and positive domestic equities. The rupee opened 1 paise higher at 83.33 a dollar from its previous close of 83.34.

KPIT Technologies’ stock fell over 5% in early trade on Tuesday after a stellar rally this month. The stock fell as much as 5.50% to ₹1,533.00 on the BSE. KPIT Technologies shares have jumped more than 31% in a month and are up over 12% year-to-date. The stock hit a 52-week high of ₹1,639.60 on Monday. Read more.

Laurus Labs on Monday completed the acquisition of the balance 8,333 equity shares from the promoter group of Laurus Bio, bringing its stake to 87.59%.

Jio Financial Services stock rose 3% as 10.6 lakh shares changed hands in block deal.

Coal India shares dropped 4% in the early hours as the company traded ex-dividend on Tuesday. The board of directors declared the first interim dividend for the FY24 at ₹15.25 per equity share with a face value of ₹10. The dividend will be paid on 9 Dec.

Mumbai Travel Retail Pvt, a part of Adani Enterprises, has incorporated its wholly owned subsidiary MTRPL Macau Ltd to set up tobacco shops at Macau International Airport, the company wrote in a filing on Monday. 

Adani Enterprises’ stock is up around 3% on the news. 

Oberoi Realty has launched Forestville, its first luxury residential project in Kolshet, Thane. Spread across 18 acres, it will consist of give residential towers. The company has launched the first phase of construction, which comprises three towers.

At 10 am the Sensex was up 238.18 points or 0.36% at 65,893.33, while the Nifty was up 78.30 points or 0.40% at 19,772.30.

InCred downgraded SBI Card from to add to reduce and slashed the target price from ₹1,000 to ₹600. The Reserve Bank of India (RBI) recently increased the risk weight on credit card receivables and SBI Card is the worst-hit.

Jio Financial Services opened 1% higher on Tuesday on the back of a report that the company is planning its maiden bond issue. Jio Financial Services is in early talks with merchant bankers for the issue, Reuters reported.

ABB and Titagarh Rail Systems have teamed up to supply propulsion systems for metro rolling stock projects in India. Under the agreement, Titagarh will buy ABB propulsion systems including traction converters, auxiliary converters, traction motors, and TCMS software.

“We believe the IREDA IPO gives an investor an opportunity to invest in Mini Ratna CPSE, which is the largest pure play in green financing Systemically Important Non-Deposit-taking Non-Banking Finance Company (NBFC-ND-SI). We think given India’s ambitious renewable energy goals and IREDA’s position as the largest green financing NBFC, the company stands as a trusted brand in a rapidly expanding sector. We also believe IREDA plays a pivotal role in shaping and implementing policies for the renewable energy sector, aligning with the Government of India’s objectives.”

The Sensex was up 233.13 points or 0.36% at 65,888.28, and the Nifty was up 70.50 points or 0.36% at 19,764.50 as markets opened on Tuesday. Gainers on the Nifty included Hindalco, Adani Enterprises, Tata Steel, JSW Steel and HDFC Bank, while losers included Tata Consumer Products, Cipla, Coal India, ONGC and Divis Labs.

The Indian rupee opened flat at 83.33 a dollar from the previous close of 83.34.

At pre-open the Sensex was up 6.94 points or 0.01% at 65,662.09, and the Nifty was up 61.40 points or 0.31% at 19,755.40.

A total of 11 stocks have been banned for trading under the futures and options (F&O) segment by the National Stock Exchange (NSE) on Tuesday. They are: BHEL, Chambal Fertilisers and Chemicals, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, MCX, NMDC, RBL Bank, and ZEEL.

The Indian rupee is likely to inch higher at open on Tuesday thanks to a broad rally in Asian currencies that pushed the Chinese yuan to its highest level in nearly four months. Non-deliverable forwards indicate rupee will open at around 83.30 to the US dollar, from 83.34 in the previous session.

Foreign institutional investors net sold shares worth ₹645.72 crore, while domestic institutional investors bought stocks worth ₹77.77 crore on Monday, according to provisional data from the NSE.

ABB India: ABB and Titagarh Rail Systems have formed a strategic partnership to supply propulsion systems for metro rolling stock projects in India.

HDFC Life Insurance Company: Karnataka Bank has formed a strategic partnership with HDFC Life Insurance to offer life insurance products to its customers.

RateGain Travel Technologies: The company said on November 20 that it has raised over ₹600 crore from qualified institutional buyers (QIBs). According to an exchange filing, the board of directors approved an allotment of 93,31,259 shares to QIBs at ₹643 a share. Read more.

Gold prices rose on Tuesday, supported by a weaker US dollar and Treasury yields as investors look forward to minutes from the Federal Reserve’s latest meeting for more guidance on its interest rate outlook.

Indian Renewable Energy Development Agency’s IPO opens for subscription today and closes on Thursday. The band has been fixed in the range of ₹30 to ₹32 per equity share with a face value of ₹10. The lot size is 460 equity shares and multiples of 460. The allocation to anchor investors took place on Monday, November 20. 

The IPO will comprise a fresh issue of up to 40.32 crore shares and an offer for sale (OFS) of up to 26.88 crore equity shares by the President of India, acting through the ministry of new and renewable energy. The offer includes a reservation for subscription by employees. The IPO size is ₹2,150.21 crore.

The rupee declined by 12 paise to settle at an all-time low of 83.38 against the US dollar on Monday, tracking the negative trend in Indian equities. Meanwhile, the dollar was trading at multi-month lows against the euro and a handful of other major currencies on Tuesday, as investors expect US interest rates to fall next year.

Tokyo’s Nikkei index opened slightly higher on Tuesday after rallies on Wall Street, with investors awaiting news of the US Federal Reserve’s interest rate plans. The benchmark Nikkei 225 index was up 0.05%, or 17.37 points, at 33,405.40 in early trade, while the broader Topix index dropped 0.09% or 2.22 points to 2,370.38.

Oil futures eased on Tuesday, reversing the previous day’s rally, as concerns over weaker demand amid a slowing global economy outweighed the prospect of deepening supply cuts by OPEC and its allies such as Russia.

The GIFT Nifty traded higher by 8 points or 0.04% at 19,815, signaling that Dalal Street was headed for muted start on Tuesday.