Stocks in News, November 22: Mindtree, Kyanes, Vedanta, ONGC, Nykaa, Nazara Technologies

Stocks in News Today, November 22: Stocks markets are likely to have a positive start today as SXG Nifty, an early indicator of sentiments on the NSE Nifty50, traded 40 points, or 0.22 per cent, higher at 18,245. However, Asian markets were mixed with Japan’s Nikkei 225 adding 214 points, or 0.75 per cent and Hong Kong’s Hang Seng index gaining 158 points, 0.90 per cent. South Korea’s Kospi fell over 10 points, or 0.40 per cent. 

Over in the US, S&P 500 shed 0.39 per cent, Nasdaq fell 1.09 per cent , and Dow Jones Industrial Average fell 0.13 per cent. 

Earlier on Monday, market benchmarks fell for the third day running and ended nearly 1 per cent lower amid weak trend in global equities. The 30-share BSE Sensex declined 518.64 points or 0.84 per cent to settle at 61,144.84. During the day, it tumbled 604.15 points or 0.97 per cent to 61,059.33. The broader NSE Nifty fell 147.70 points or 0.81 per cent to end at 18,159.95

Stocks in News Today, November 22

Kaynes Technology: Shares of Kaynes Technology India Limited (KTIL) will be making a market debut today. It will be listed for trading and dealing under the 'B' group of sercurities. The shares of Kyanes Technology will also be listed at the NSE. 

Mindtree: In one of the largest mergers in Indian information technology sector, L&T Infotech Ltd. and Mindtree Ltd. will begin to operate as a merged entity, LTIMindtree. It will become the 5th largest software company in the country in terms of market capitalisation. The board has fixed November 24 as the record date for determining the shareholders of Mindtree to whom equity shares of the combined company would be allotted. Mindtree will be suspended for trading from November 23, a day prior to the record date, and the last trading day will be today i.e. November 22. So all F&O contracts of Mindtree will expire today.

Vedanta: Metal major Vedanta Limited is scheduled to announce its third interim dividend for the financial year 2022-23 (FY23). “The Board of Directors of the Company (the “Board”) on Tuesday, November 22, 2022, will consider and approve Third Interim Dividend on equity shares, if any, for the Financial Year 2022-23,” Vedanta said in a filing available on the exchanges.

Oil Stocks: Stocks of ONGC and other companies will be in news today as oil prices have slumped to their lowest level since before the war in Ukraine after Saudi Arabia. Global benchmark Brent fell below $83 a barrel for the first time since January, a drop of 5.3 per cent.

Nazara Technologies: Nazara Technologies has posted a surge of 11 per cent in its profit after tax to Rs 169 crore for the quarter that ended September 2022, against Rs 153 crore in the year-ago period. The company said its revenues went up 104 per cent to Rs 2,638 in the reviewed quarter, against Rs 1,296 crore in the corresponding quarter the previous year, according to a statement shared with stock exchanges.

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