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Business News/ Markets / Live Blog/  Sensex, Nifty extend losses, concede 60K, 18K marks; banking, realty drag
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Sensex, Nifty extend losses, concede 60K, 18K marks; banking, realty drag

Benchmark indices opened with gaps down and progressively added losses through the day with investors booking profits. Among Nifty sectoral indices, metals was the sole index in the positive and retained the marginal gains throughout. Individual stocks, including Pidilite, kept the indices from a nosedive amid positive earnings calls

Stock market Today: Sensex, Nifty extend losses. (REUTERS)Premium
Stock market Today: Sensex, Nifty extend losses. (REUTERS)

On the Sensex, consumer durables, metals and utilities were the only sectors in the green, although marginally. Some of the key quarterly results were to come in at the time the markets closed for trading. Sapphire foods' IPO was subscribed 5.43 times on its final day. The dollar rose to 20-month highs against the euro and other currencies on Thursday, and the yen fell back towards multi-year lows, after the hottest US inflation reading in a generation encouraged bets on interest rate hikes.

11 Nov 2021, 04:05:38 PM IST

Rupee slips 18 paise to close at 74.52 (provisional) against US dollar

11 Nov 2021, 04:04:51 PM IST

On markets closing: Gaurav Udani, CEO & founder, ThincRedBlu Securities

After a few days of sideways movement, Nifty made a bearish bar today. It closed at 17,880 , down by 135 points since yesterday's close. Nifty has support at 17,800 and 17,600 levels and resistance at 18,050 and 18,100 levels. Traders in long position need to be cautious and keep strict stoploss. Any daily closing below 17,600 may initiate a sharp bearish move in Nifty. 

11 Nov 2021, 04:01:47 PM IST

Axis Securities result update: Birla Corporation Ltd

Seasonality & cost headwinds impacts performance; new capacity to drive growth

CMP : 1,589 | Target: 1,760 | Upside : 11%

BUY

 

Outlook & valuation: Cement demand has been improving post-monsoon and the company has raised prices to partially pass on the increase in input costs. Taking advantage of an improved demand scenario, the company is optimizing a geographical mix of sales again. These measures are expected to improve net realization in H2FY22. The company is on track to expand its capacity by 25% which will reduce concerns over volume growth moving ahead. With a strong position in the demand-accretive central region, new capacity addition, higher sale of premium products, and strong demand, the outlook for the company appears robust. The stock is currently trading at 8x and 6x FY22E and FY23E EV/Ebitda and EV/tonne of $75 and $72 respectively. We maintain our BUY recommendation on the stock and value the company at 9x FY23E EV/Ebitda to arrive at a target price of ₹1,760/share. The TP implies an upside of 11% from the CMP.

11 Nov 2021, 03:59:26 PM IST

Axis Securities result update: CreditAccess Grameen Ltd

Inching Back Towards Normalcy

CMP : 597 | Target: 755 | Upside : 26%

BUY

 

Valuation & recommendation: The significant drop in the PAR0 signalling at lower incremental stress build-up, MoM pick-up in collections along with near normalized levels of disbursements are key positives. While stress remains elevated in the MMFL book, the management’s confidence in asset quality recovery by the end of FY22E is reassuring. The focus on rural markets in the MFI business along with a renewed focus on the retail finance book provides a large addressable market to grow over the medium term. With chances of Covid 3.0 appearing to be bleak, the recovery for CAG would be quicker and the company would be able to bounce back strongly and regain lost ground. We believe current valuations are attractive and provide a good entry point from a long-term perspective. We maintain our BUY recommendation on the stock and value CAG at 2.4x H1FY24E BV to arrive at a target price of ₹755/share, implying an upside of 26% from CMP. We believe that our target multiple reflects the superior return profile (~16% ROE by FY24E), large growth opportunity in the rural markets and the inherent risks in the MFI business.

11 Nov 2021, 03:57:00 PM IST

On market performance: Narendra Solanki, head-equity research (fundamental), Anand Rathi Shares & Stock Brokers

Indian markets opened on a negative note following mixed Asian market cues and higher than expected inflation data reported in US raising concerns of an earlier-than-expected hike in interest rates in the world's largest economy. Also, continuous foreign fund outflows subdued traders’ sentiments. Foreign institutional investors (FIIs) were stood as net sellers in the capital market, as they offloaded shares worth ₹469.50 crore on Wednesday. They have sold equities worth ₹5,515 crore so far this month. On sectoral front, almost all the indices traded in red barring metals and consumer durables which were marginally positive.

11 Nov 2021, 03:55:32 PM IST

Markets close

Sensex settled at 59,919.69, down 433.13 points, or 0.72%, at the end of trade on Thursday. Nifty was at 17,873.60, down 143.60 points, or 0.80%. On Wednesday Sensex had ended trade at 60,352.82, down 80.63, or 0.13%, while Nifty closed at 18,017.20, down 27.05 points, or 0.15%. The benchmark indices opened in the red and remained in negative territory through the day, with three meek bouncebacks that finally pared some losses. Nifty hit a low of 17,798.20 intraday, while Sensex hit a low of 59,656.26 in the day. At close, only six stocks on the Sensex were in the green, with only one showing over 1% gains. 24 stocks were in the red with 12 showing losses of over 1%. Titan, M&M and Reliance were top gainers, while SBI, Bajaj Financial Services and Tech Mahindra were top losers. Among the 3,445 listed stocks, 1,434 advanced, 1,857 declined and 154 remained unchanged. The story was not very different on NSE. Nifty ended trade with 8 advances, 46 declines and 1 unchanged. Titan, Hindalco and JSW Steel were top gainers, while SBI, ONGC and SBI Life were top losers. On the broader markets midcap indices, which had supported the market in earlier sessions, came under pressure and closed well in red. 

Source: BSE
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Source: BSE
11 Nov 2021, 03:14:14 PM IST

ICICI Securities rating: Brookfield India REIT

ADD (Target Price: ₹317)

Rebound on the cards

 

The Brookfield India REIT (BREIT) delivered a resilient Q2FY22 performance inspite of a 400bps q-o-q same-store occupancy decline to 85% with over 99% of rental collections and flat operating lease rentals of ₹1.56 billion on y-o-y basis. In H2FY22, the REIT manager expects to renew 50% of scheduled expiries of 0.6msf with new LOIs of 0.16msf and ongoing discussions for 1.3msf of area, likely to result in portfolio occupancy remaining flat in H2FY22 before increasing from H1FY23 based on recovery in office leasing. We maintain our ADD rating on BREIT with a revised Mar’22 DCF based target price of ₹317/unit (earlier ₹293) factoring in improved leasing from FY23E. Key risks to our thesis are the large-scale adoption of Work-from-Home by occupiers over the long term and rising interest rates globally.

 

Investment rationale:

 

· Resilient Q2FY22 performance: The BREIT which listed on exchanges on February 16, 2021 achieved a resilient Q2FY22 performance in its operational portfolio with rental collections of over 99% and operating lease rentals remaining flat y-o-y at ₹1.56 billion while Net Operating Income (NOI) declined 8% y-o-y to ₹1.63 billion owing to reduction of ₹0.8 billion in CAM revenue owing to covid and mid-year termination of CIOP operating services with identified assets. The operating portfolio of 10.3msf is stabilized with 85% Same-Store Occupancy as of Sep’21 (89% as of Jun’21) and a Weighted Average Lease Expiry (WALE) of 6.6 years.

·Renewals of H2FY22E expiries a key monitorable: In H1FY22, of the 0.8msf of scheduled expiries, the REIT manager has renewed 0.2msf of area at a re-leasing spread of 3% while the balance 0.6msf has seen tenant exits resulting in same-store portfolio occupancy declining by 600bps to 85% as of Sep’21. For H2FY22, the REIT has 0.6msf of scheduled expiries (including 0.1msf of early expiries), of which the REIT manager expects to renew 0.3msf or 50% of the expiry. Additionally, the REIT has LOIs under execution for 0.16msf of area and ongoing discussions for 1.3msf of area which may result in the H2FY22 expected exits of 0.3msf being recouped. As per the REIT manager, there is a leasing pipeline opportunity of 3.2msf across its portfolio markets and it expects to see strong leasing traction heading into H1FY23 as more employees return to offices and relocation/expansion/consolidation plans fructify.

 

· On track to meet FY22 NDCF DPU guidance: At the end of Q4FY21, the REIT manager had given a NDCF DPU guidance of ₹12.75/unit for H1FY22 and has delivered a H1FY22 NDCF DPU of ₹12.85/unit of which it has distributed ₹12.0/unit. For FY22 overall, the REIT manager has given a NDCF DPU guidance of ₹22.0/unit, which implies a distribution of ₹10.0/unit in H2FY22 which factors in lower occupancies and excludes any major fresh leasing transactions. We believe that the H2FY22 DPU guidance is achievable and is in line with our estimates.

 

· Key assumptions for Brookfield India REIT:

 

• 4% annual increase in rentals from FY23E onwards

• 3% increase in market rentals for FY22E

• 4.5% terminal growth rate from FY30E

• Cap rate of 8% on Net Operation Income (NOI) of each asset

• Maximum stabilised long-term occupancy of 95% across assets

• WACC of 10.0% assuming 0.3x debt/equity with cost of equity of 11% and cost of debt of 7.5%.

 

ICICI Securities maintains ADD rating on Brookfield India REIT (BREIT) with a revised March 2022 DCF based target price of ₹317/unit (earlier ₹293) owing to higher FY23E occupancies across assets. At CMP of ₹297, ICICI Securities expects the BREIT to deliver NDCF distribution yield of 6.7% in FY22E, 7.7% in FY23E and 8.0% in FY24E.

11 Nov 2021, 03:07:46 PM IST

Markets at 3 pm

Sensex was down over 500 points and Nifty over 168 points at 3 pm. Both are over 0.8% down. The indices have remained firmly in the red throughout the day. There were a couple of bounebacks, but the indices have progressively slipped further into red after each rise. In the final minutes of trading there is another rally which may pare some losses.

Source: BSE, NSE
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Source: BSE, NSE
11 Nov 2021, 02:58:08 PM IST

Page Industries posts good numbers

Page Industries Ltd has reported a 44.7% rise in its net profit in the September quarter from the year-ago period. It was ₹160.5 crore in Q2FY22 against ₹110.9 crore in Q2FY21. Revenue jumped 46.4% at ₹1,084 crore against ₹740.3 crore in the year-ago quarter. The manufacturer and retailer of innerwear, loungewear and socks saw its earnings before interest, tax, depreciation, and amortization (ebitda) rise 41.1% to ₹233.4 crore from ₹165.4 crore in the year-ago period. Ebitda margin stood at 21.5% against 22.3% in Q2FY21.

11 Nov 2021, 02:47:54 PM IST

Pidilite gains over 4%

Pidilite Industries shares were up 4.24% to ₹2,465.90 at 2:45 pm on the back of positive quarterly results of the company. The adhesives maker recorded 5% rise in consolidated net profit to ₹376 crore on a 41% increase in net sales to ₹2,613 crore in Q2FY22 over Q2 FY21.

11 Nov 2021, 02:43:33 PM IST

Engineers India reports Q2 net profit of ₹170 million

Engineers India Ltd has reported revenue of ₹6.57 billion in Q2FY22 compared with ₹6.9 billion in Q2FY21. The revenue is down quarter-on-quarter from ₹7.46 billion. The company's Q2 consolidated net profit is ₹170.4 million compared with ₹883 million year-on-year. The stock was down 2.72% as of 2:43 pm.

11 Nov 2021, 02:36:38 PM IST

Sectoral indices on Nifty

All sectors in the red, other than IT, have registered losses over 1%. Realty is down 2.71%

Source: NSE
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Source: NSE
11 Nov 2021, 02:18:54 PM IST

Sensex and Nifty at 02:12 pm

Nifty and Sensex saw bouncebacks towards noon and after 1 pm but since then have started going towards further losses, particularly in the case of Sensex.

Source: NSE, BSE 
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Source: NSE, BSE 
11 Nov 2021, 02:04:45 PM IST

Dollar rockets to 20-month highs after hot US inflation

The dollar rose to 20-month highs against the euro and other currencies on Thursday, and the yen fell back towards multi-year lows, after the hottest US inflation reading in a generation encouraged bets on interest rate hikes. US consumer prices grew last month at their fastest annual pace since 1990, data showed, and traders think the Federal Reserve could respond by lifting interest rates faster than peers in Europe and Japan. The euro was pummelled, as the European Central Bank is seen lagging on policy tightening. It slipped further to $1.1459 on Thursday, its lowest since July 2020. Sterling was also marginally down on Thursday at a new 11-month low of $1.3388, with better-than-expected GDP data in Britain doing little to support the pound. The yen extended a sharp reversal of recent gains to 114.15 per dollar—close to the Japanese currency's four-year low of 114.69 reached last month. The Australian and New Zealand dollars recorded one-month troughs. Against a basket of currencies, the dollar rose 0.2% to 95.02, its strongest since July 2020. Analysts said the sharp rise in U.S. government bond yields, including the 30-year Treasury passing 1.5%, was behind the dollar's jump.

11 Nov 2021, 01:56:01 PM IST

Morepen Laboratories reports rise in Q2 net profit

Morepen Laboratories has reported that its consolidated net profit in Q2FY22 has risen to ₹374 million compared with ₹272 million in the year-ago period. The net profit has also seen a quarter-on-quarter increase to ₹305 million. The results have beaten estimates in both year-on-year and quarter-on-quarter estimates.

11 Nov 2021, 01:47:53 PM IST

Most sectoral indices still in red

Nifty IT and pharma have pared losses from over 1% to now at 0.87% and 0.95% respectively.

Source: NSE
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Source: NSE
11 Nov 2021, 01:43:39 PM IST

Top gainers and losers on Nifty, Sensex

Source: NSE, BSE
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Source: NSE, BSE
11 Nov 2021, 01:28:09 PM IST

J Kumar Infraprojects has received letter of acceptance from Maharashtra Metro Rail Corporation Ltd

11 Nov 2021, 01:23:03 PM IST

TVS Srichakra reports net profit of ₹25.3 crore

TVS Srichakra has reported net profit of ₹25.3 crore in Q2FY22, which is 36.6% lower than the net profit of ₹39.9 crore reported in Q2FY21.  The company's revenue was up 38.2% at ₹687.5 crore compared with ₹497.6 crore year-on-year. Also, the firm's earnings before interest, tax, depreciation and amortization (ebitda) was up 98.4% at ₹63.3 crore compared with ₹31.9 crore, year-on-year. Ebitda margin meanwhile, was up at 9.2% compared with 6.4% year-on-year.

11 Nov 2021, 01:12:04 PM IST

Hindustan Oil Exploration Q2 consolidated profit rises

11 Nov 2021, 01:09:11 PM IST

Route Mobile completes Masivian acquisition

Route Mobile has announced successful completion of the acquisition of 100% equity stake of Masivian S.A.S., Columbia, South America.

11 Nov 2021, 01:05:28 PM IST

Top active stocks on BSE

Source: BSE
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Source: BSE
11 Nov 2021, 12:48:36 PM IST

Sensex heatmap

Source: BSE
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Source: BSE
11 Nov 2021, 12:45:31 PM IST

Titan, Tata Steel gain over 1%

Titan and Tata Steel have gained more than 1% on Thursday even as the markets are gradually widening losses.

Source: BSE
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Source: BSE
11 Nov 2021, 12:37:05 PM IST

SCI incorporates subsidiary

Shipping Corporation of India Ltd (SCI) has incorporated a wholly owned subsidiary, Shipping Corporation of India Land and Assets Ltd. The move is part of demerger under SCI's strategic disinvestment process undertaken by the government.

11 Nov 2021, 12:32:23 PM IST

Shares hitting 52-week lows on NSE

Source: NSE
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Source: NSE
11 Nov 2021, 12:22:49 PM IST

Sensex, Nifty at 12:15 pm

Sensex was down over 500 points and Nifty shed 165 points as both indices teased near 1% losses amid selling pressure. Sectoral and broad market indices continue to trade in red. On Nifty, metal remained the only index to trade in green. BFIS, FMCG, IT, pharma, and auto showed more than 1% losses. 

Source: BSE, NSE
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Source: BSE, NSE
11 Nov 2021, 12:15:37 PM IST

Narayana Hrudayalaya up over 10%

Shares of Narayana Hrudayalaya have touched a new 52-week high of ₹623 intraday in the wake of healthy operational performance in the September quarter. The shares were trading up 10.62% at 12:12 pm. The company's consolidated net profit for Q2FY22 was ₹99.4 crore. It had posted a consolidated net loss of ₹3.4 crore in Q2FY21. Narayana Hrudayalaya's operations staged a decent recovery during the September quarter,  after significant impact on operations in Q1FY22 due to covid-19.

Source: BSE
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Source: BSE
11 Nov 2021, 12:01:51 PM IST

Groupwise breakup of advances and declines

Advances and declines on BSE in terms of top cluster of groups. More stocks have declined in Groups A and B than the number that has seen advances.

Source: BSE
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Source: BSE
11 Nov 2021, 11:55:47 AM IST

Maruti Suzuki to launch EV by 2025; new SUV models in the works: report

11 Nov 2021, 11:51:51 AM IST

Commodity update: Prathamesh Mallya, AVP-research, non-agri commodities and currencies, Angel One Ltd

Gold

On Wednesday, Spot gold prices gained about 1% to close at $1,849.6 per ounce reflecting the solid US inflation figures. Mounting inflation worries has been a prime reason behind the recent rise in gold prices.

In October, US consumer prices surged following the increase in energy and food prices which boosted appeal for gold which is widely considered as a hedge against inflation and currency debasement.

The US Federal Reserve keeping interest rates near zero in the policy meet conducted last week hinted towards a dovish approach which kept gold prices afloat earlier in the week.

Inflation woes and an accommodative approach by global central banks has created a supportive environment for the safe haven asset, gold.

Supportive monetary approach and a weaker US dollar is expected to push gold higher in today’s session.

 

Crude oil

On Wednesday, WTI Crude slipped lower by 3.34% to close at $81.3 per barrel as buildup in US crude inventories outpaced optimism over boost in global demand.

As per reports from the Energy Information Administration, US Crude stocks increased by 1 million barrels in the week ending on 5 November 2021.

Bets over revival in global demand amid a tight supply market kept oil prices elevated earlier this week. US withdrawing the travel restrictions coupled with resumption in global economic activities is expected to boost demand for crude further pressuring the already tight supply chain.

Bets over increasing demand amid a tight supply market is expected to keep oil prices elevated.

 

Base metals

Industrial metals on MCX remained under pressure in line with the international markets as escalating concerns over the ongoing property crisis in China undermined the demand prospects for the base metals complex.

The ongoing property crisis, stern energy usage limitations and the recent spike in power prices around the globe has hampered the economic recovery in China, the largest metal consuming economy.

Boost in demand for Industrial metals given the resumption in global economic activities and the massive US infrastructure bill has created a supportive environment for the entire pack in the recent months. Industrial metal prices also found some strength as limited supply from China and depleting inventories across exchanges continued to hint towards a tight supply.

However, dismal demand from China remains a major setback for the industrial metals complex.

 

Copper

On Wednesday, MCX Copper prices ended lower by 0.91% extending the fall from the previous session as uncertainties arising from China’s economy clouded the outlook for Copper and other industrial metals.

The ongoing property crisis in China might overshadow worries over tightening supplies and push prices lower.

11 Nov 2021, 11:48:06 AM IST

Currency Update: Heena Naik, research analyst-currency, Angel One Ltd

Both EURUSD and EURINR plunged by 1% and 0.67% respectively touching the lower levels of 1.1463 and 85.27. Reason for the same could be attributed to the sharp surge in the US Dollar Index that reached a year-to-date high while the 10-year Treasury yields rose around 12 basis points after consumer prices in the US quickened at the fastest clip in three decades on an annual basis. The consumer price index rose 6.2% year-on-year last month, surpassing all estimates. The US inflation data has increased the odds that the Fed would increase interest rates immediately after the taper wraps up. In fact, the data has led to more risks around the already high uncertainty around the Fed outlook for next year.

11 Nov 2021, 11:46:56 AM IST

Technical and derivatives report: Sameet Chavan, chief analyst-technical and derivatives, Angel One Ltd

Market started yesterday’s session on a sluggish note, but still it was certainly not as bad as the SGX Nifty was indicating . Nifty retested 17,900 in the early morning trades which was then followed by some consolidation. Post the mid-session, we witnessed a decent recovery in some of the heavyweights which pulled the index beyond 18,000 to mark a flat close one day ahead of the weekly expiry. Although we had a decent recovery post the nervous start, overall there was no major action seen in the benchmark index. We once gain had a neutral close around 18,000 which keeps the chart structure unchanged. Hence the view and the levels remained the same as mentioned in the previous commentary. On an immediate basis 18,100–18,200 should be seen as crucial resistances; whereas with a broader view, 18,350 stands to be a crucial level which if gets surpassed, Nifty could see new highs thereafter. But till then one should continue with a ‘Sell on rise’ strategy. On the flipside, 17,950–17,850 are to be considered as key supports. Traders are still advised to stay light and even if one wants to focus on individual stocks, a proper money management is must to follow.

11 Nov 2021, 11:44:30 AM IST

Industrial metals update: Yash Sawant, Research Associate, Angel One Ltd

The ongoing property crisis, stern energy usage limitations and the recent spike in power prices around the globe have hampered the economic recovery in China, the largest metal consuming economy. Boost in demand for industrial metals given the resumption in global economic activities and the massive US infrastructure bill has created a supportive environment for the entire pack in the recent months. Prices also found some strength as limited supply from China and depleting inventories across exchanges continued to hint towards a tight supply. However, dismal demand from China remains a major setback for the Industrial metals complex. 

11 Nov 2021, 11:42:28 AM IST

Top stock picks: Agel One Ltd

Source: Angel One Ltd.
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Source: Angel One Ltd.
11 Nov 2021, 11:34:09 AM IST

S&P Bankex is down over 420 points

Federal bank was the only stock in green on the S&P Bankex. SBI, City Union Bank and ICICI Bank were top drags, and were down over 1%.

Source: BSE
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Source: BSE
11 Nov 2021, 11:27:48 AM IST

Nykaa shares trading down 3%

Nykaa, which made a stellar debut on the bourses with 79% premium and clocked market capitalization of over ₹1 trillion, has seen drop in interest for the shares and was trading down over 3% as of 11:23 am. Earlier in the day the stock had dipped over 5%.

Source: BSE
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Source: BSE
11 Nov 2021, 11:22:42 AM IST

Sapphire IPO subscribed 1.54 times

Sapphire Foods India Ltd's IPO has been subscribed 1.54 times as of 11:14 am largely on account of 6.22 times bidding by retail individual investor category. The category, which has been allotted 1,756,994 shares has received bids for 10,925,292.

Source: NSE
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Source: NSE
11 Nov 2021, 11:11:56 AM IST

SC to hear Future Group's plea: report

The Supreme Court, CNBC TV18 has reported, has agreed to hear a plea by Future Group against the Delhi high court's refusal to stay the emergency arbitrator’s order. Also, the apex court has agreed to hear Amazon’s plea, seeking to restrain regulators from granting clearing to Future Retail deal. The plea will be heard on 23 November, the report says.

11 Nov 2021, 11:08:42 AM IST

Markets at 11 am

Sensex was down 508 points, and Nifty by 155 points at 11 am. Both indices have ceded the 60,000 and 17,900 marks and have been widening losses amid selling pressure. Among sectoral indices on Nifty, metals were the sole index marginally in green. All other sectors dragged, led by realty down over 2% and followed by IT, pharma, media, FMCG and financial services, which were all down over 1%. 

Source: BSE, NSE
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Source: BSE, NSE
11 Nov 2021, 11:00:26 AM IST

Volatility index over 3%

Nifty Vix has seen 3.90% gains as of 10:59 am with all other broad market indices in red. Nifty and Sensex have widened losses following global cues.

Source: NSE
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Source: NSE
11 Nov 2021, 10:46:53 AM IST

Crisil up 7.19%

Crisil has seen a 7.19% gain in the wake of its Q2 results announced on Wednesday. CRISIL Ltd's consolidated income from operations for the quarter ended 30 September 2021, rose 17.7% to ₹571.0 crore, compared with ₹485 crore in the corresponding quarter of the previous year. Consolidated total income for the quarter was up 15.7% at ₹603.8 crore, compared with ₹522 crore in the year-ago period.

Source: NSE
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Source: NSE
11 Nov 2021, 10:40:37 AM IST

Monte Carlo Fashions Ltd sees 20% gain 

Monte Carlo Fashions has seen 20% gains in the wake of Q2 results announced Wednesday.  The stock has touched its intraday and 52-week high. Net profit of Monte Carlo Fashions rose 665.46% to ₹33.91 crore in the quarter ended 30 September 2021 as against ₹4.43 crore in the year-ago period. Sales rose 142.53% to ₹238.29 crore in Q2FY22 as against ₹98.25 crore in Q2FY21. The company is holding analyst call on earnings today.

Source; NSE.
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Source; NSE.
11 Nov 2021, 10:34:26 AM IST

Zomato up over 2%

Zomato stock was up by 2.94% on Thursday a day after it announced September quarter results. The company reported that its revenue from operations jumped to ₹1,024.2 crore in the quarter ended September compared with ₹426 crore during in the year-ago period. Zomato’s losses went up to ₹434.9 crore against ₹229 crore year-on-year. The company also announced plans to deploy $1 billion in startups  Shiprocket (logistics aggregator), Magicpin (local shopping and savings platform) and Cultfit (fitness startup).

Source: NSE
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Source: NSE
11 Nov 2021, 10:17:00 AM IST

IPOs watch

Latent View Analytics Ltd's IPO, which closes on 12 Nov has been subscribed 3.83 times, while Sapphire Foods India Ltd's IPO, which closes today, has been subscribed 0.67 times.

Source: NSE
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Source: NSE
11 Nov 2021, 10:10:03 AM IST

NTPC unit to begin commercial operation

NTPC has informed in an exchange filing that Unit-1 (660 MW) of Barh Super Thermal Power Station Stage-I (3x660 MW) will start commercial operation with effect from midnight of 12 November. The new unit will take the capacity of NTPC and NTPC group to 54,232.5 MW and 67,657.5 MW respectively.

11 Nov 2021, 10:06:52 AM IST

Finolex Cables enters room heater segment

Finolex Cables has announced its entry into the room heater segment with a new range of high-performance room heaters. The company said in a exchange filing that the room heaters come in six variations, supported by extensive engineering to provide reliable and flawless service for years. The heaters have multiple options such as oil filled, quartz tube, fan blower, convector and halogen with a wattage ranging from 400W to 2500W, the company said. 

11 Nov 2021, 10:01:44 AM IST

Sensex, Nifty deepen losses

Source: BSE, NSE
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Source: BSE, NSE
11 Nov 2021, 09:50:59 AM IST

Most sectoral indices in red

Metal index is being powered by Welspun, Hindustan Zinc, and Adani Enterprises, with Welspun alone gaining over 3%.

Metal and realty are the only indices in green on Nifty
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Metal and realty are the only indices in green on Nifty
11 Nov 2021, 09:43:25 AM IST

On market opening: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The markets are unable to decide the way forward. While the overall trend is positive, the short term vision seems undecided. Above 18,100 the outlook is positive while below 17,700-17,800 seems bearish. We are caught in a range and would require to break out or break down in order to witness a meaningful direction.

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