Wipro, HUL, Maruti Suzuki, HDFC Life, BHEL, Lupin, LT Foods, ACME Solar, Hitachi Energy, other stocks to track on November 26
Share Market News, Stocks to Track: Domestic equity benchmarks Nifty 50 and Sensex rallied for a second straight session on Monday, driven by broad-based gains amid strong buying interest in financial, energy, FMCG and auto shares. Here are a few stocks worth tracking during the next session on Dalal Street.
Share Market News, Nifty 50/Sensex/BSE 500 Stocks to Track: Domestic equity benchmarks staged a spectacular rally for a second straight session on Monday, driven by broad-based gains amid strong buying interest in financial, energy, FMCG and auto stocks. Both headline indices gained 1.3 per cent for the day, with the Sensex surging 992.7 points to end at 80,109.9 and the Nifty50 adding g314.7 points to settle at 24,221.9.
Investors have grown richer by Rs 14 lakh crore in the 2 sessions
Investors grew wealthier by Rs 14 lakh crore in the two sessions, as the market capitalisation—or market value—of BSE-listed stocks rose to Rs 439.6 lakh crore from Rs 425.4 lakh crore, according to provisional exchange data.
With the earnings season now behind, the market is set to take cues from FII activity and global cues at least until a quarterly official GDP reading due on Friday.
Companies in News | Here are more than a dozen stocks worth tracking on Dalal Street during the November 26 session:
Wipro names Omkar Nisal as CEO for Europe SMU
Wipro has appointed Omkar Nisal as Chief Executive Officer for its Europe strategic market unit (SMU) with immediate effect.
Nisal will also become a part of the Wipro executive board, reporting directly to CEO and MD Srini Pallia.
Hitachi-BHEL consortium bags PowerGrid project
Hitachi Energy India's consortium with BHEL has been awarded a project by Power Grid Corporation to design and execute a high-voltage direct current (HVDC) link from Khavda to Nagpur. The scope of the project includes converter transformers, AC/DC control and protection, gas-insulated high-voltage switchgear, thyristor valves, 765kV/400kV substation and auxiliary systems to be delivered by the consortium, according to a statement.
Lupin, Dr Reddy's in focus
Lupin is learned to be recalling more than six lakh bottles of a medication indicated for high blood pressure in the US due to deviation from current good manufacturing practices (CGMP), according to the American health regulator, the US Food and Drug Administration (FDA).
As per its latest Enforcement Report, Dr Reddy's Laboratoties is also recalling a product in the US due to a manufacturing issue.
Maruti Suzuki India plans to take annual exports to 8 lakh by FY31 from current 3 lakh
Maruti Suzuki India aims to export about 8 lakh vehicles annually by FY31 from the current 3 lakh units. "Four years ago, we were exporting about one lakh cars per year, which has now risen to three lakh cars annually. By the end of this decade, we are targeting exports of 7.5 to 8 lakh vehicles per year, bringing us close to the one million mark," Maruti Suzuki India Executive Director-Corporate Affairs Rahul Bharti told news agency ANI.
HUL board gives nod to ice cream business demerger into independent listed entity
HUL's board has approved the demerger of the ice cream business, which owns brands such as Kwality Wall's, Cornetto and Magnum, into an independent listed entity. According to the arrangement, the existing HUL shareholders will receive shares in the new entity in proportion to their shareholding in HUL, according to a company statement.
Data leak at HDFC Life?
HDFC Life Insurance has reported some instances of data leaks and is assessing the potential impact of this breach. "We have received communication from an unknown source, who has shared certain data fields of our customers with us, with mala fide intent," according to a regulatory filing by the life insurance major.
HDFC Life has initiated an information security assessment and data log analysis.
Recently-listed ACME Solar Holdings in the spotlight
ACME Solar Holdings has reported a more than 60 per cent fall in its consolidated net profit to Rs 15.3 crore for the September quarter mainly on account of lower revenue.
Its quarterly total income has declined to Rs 295.1 crore from Rs 357 crore a year ago, according to a regulatory filing.
Microfinanciers in focus
After repeated strictures from the RBI, the Microfinance Institutions Network (MFIN) has announced a slew of changes to make lending to the bottom of the pyramid more "responsible". From January 1, the self-regulatory organisation's members will ensure that a single MFI client's borrowings are limited to three MFIs as against four at present and the total indebtedness of a borrower including MFI and unsecured retail loans is capped at Rs 2 lakh, according to a statement.
LT Foods enters Saudi Arabia
basmati and speciality rice company LT Foods has entered Saudi Arabia with the aim to tap its $2-billion rice and rice-based food market.
With Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic shareholder, LT Foods is also gearing up to set up local manufacturing facilities in the Kingdom, according to a company statement.