Morning Update for 26 November 2021

Indices at previous closing

Nifty50: 17,536 ▲+121 (+0.7%)
Sensex: 58,795 ▲+454 (+0.7%)
Nifty Bank: 37,364 ▼-77 (-0.2%)

For more updates on F&O, click here.

ITC starts nasal spray clinical trials

Diversified company ITC, which is developing a nasal spray for Covid-19 prevention, has reportedly started its clinical trials. As per reports, it plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals.

This nasal spray is designed to arrest the virus at the entry point in the nasal cavity itself. ITC’s shares rose about 2% yesterday, coupled with an increase in volumes.

JSW Energy reorganises businesses  

The power company has said that it will reorganise its renewable (green) and thermal energy (grey) businesses separately. All the existing and upcoming renewable energy businesses will be housed under its wholly owned subsidiary - JSW Energy Neo. 

According to the management, this will help the company efficiently raise funds and unlock value for its shareholders. It added that the company has chalked out a plan to reach 20 GW of power generation capacity by 2030. Of that, 85% capacity would be for renewable energy, up from 30% currently. Meanwhile, shares of the company were up around 2% yesterday.

Tarsons Products to debut today

The Kolkata-based labware equipment maker will list on the exchanges today. The public issue had received strong response from investors and was oversubscribed around 77 times last week. It had also raised ₹306 crore from its anchor investors. 

Meanwhile, the IPO rush will continue on D-Street next week. India’s largest private health insurer Star Health will launch its ₹7,249 crore IPO on 30 November 2021. Following which, Tega Industries will launch its ₹620 crore public issue on 1 December 2021. You can apply for IPOs on Upstox.

Sectoral indices (November 25)

Global markets (at 8:00 am today)

Fact of the day

WhatsApp wasn’t free initially. It would cost $1 to download and use the messaging platform. 

Source: Investopedia

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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.