Bulls fightback

Bulls fightback
**Nifty50: 18,244 ▲ **84 (+0.4%)Sensex: 61,418 ▲ **274 (+0.4%)
Greetings, people!
Who’s the #GOAT? While that debate will continue forever, football fans agree that this is the ‘** greatest photograph of all time**’. Snapped by famed portrait photographer Annie Leibovitz, this picture has gone viral. It already has 55 million likes and counting!
  • After a subdued opening, the benchmark indices snapped a three-day losing streak and closed higher.
  • In all, 36 of the Nifty50 stocks closed in the green.
  • The Rupee closed 9 paise higher at 81.67 against the dollar.
Among the Nifty sectoral indices, PSU Bank (+1.6%) and Metal (+0.8%) witnessed gains, while Realty (-1.2%) was the sole loser.
| Top gainers | Today's change |
| --
  • | --
  • |
    | IndusInd Bank | 1,172 ▲ 33 (+2.9%) |
    | JSW Steel | 709 ▲ 13 (+1.8%) |
    | NTPC | 167 ▲ 2.7 (+1.6%) |
| Top losers | Today's change |
| --
  • | --
  • |
    | BPCL | 306 ▼ 3.8 (-1.2%) |
    | Nestle India | 19,600 ▼ 161 (-0.8%) |
    | Bharti Airtel | 847 ▼ 4.2 (-0.4%) |
What’s trending⭐Crude oil prices recover
The US crude oil prices hit a 11-month low of $75.3 per barrel on Monday on the back of reports claiming that the OPEC+, a group of oil producers, could increase oil production. However, oil prices bounced back sharply later in the day and were trading around $81 as Saudi Arabia’s energy minister said that the country would stick to the output cuts and doesn’t see any potential for production cuts in the future.
⭐ JK Paper acquires two packaging firms
JKPAPER (NSE): 415▼ 5.0 (-1.1%)
JK Paper has acquired an 85% stake in corrugated packaging manufacturers Horizon Packs and Securipax Packaging for around ₹578 crore. It will acquire the remaining 15% stake, in each company, within the next three years. Together, these companies are India’s largest corrugated packing manufacturers and have a consolidated revenue of ₹832 crore. Corrugated packaging is a rapidly growing segment driven by growth in the food & beverage and FMCG industries.
⭐ Stamp duty revenue collection jumps
According to reports, revenue collection from stamp duty and registration charges from 27 states and one union territory (J&K) stood at ₹94,800 crore for the first six months of FY23. This is a 35% jump on a year-on-year basis. The growth was strong despite incentives such as stamp duty reduction and rising property prices. This implies a strong buying interest in the residential real estate sector. The Nifty Realty Index has risen nearly 10% in the last six months.
⭐ India’s growth forecast revised
The leading rating agency, CRISIL has slashed India’s growth forecast for the current fiscal. The ratings agency has downgraded its forecast from 7.3% to 7.0% for FY23, citing a slowdown in global growth. The slowdown is expected to impact India’s exports and industrial activity.
In FocusLock-in period curse
Investors of Nykaa and Paytm have been offloading their stakes in November following the end of one-year lock-in period. As a result, shares of these companies have declined in the range of 8% to 25% this month. So let’s take a look at what is a lock-in period and how it impacts stock prices?
To start with, a lock-in period is the length of time during which certain categories of investors are not allowed to sell their shares in a given company. For pre-IPO investors, the lock-in period is for six months (was one year earlier). The purpose of a lock-in period is to help in minimising volatility and stabilising the share price after the listing.
In the case of FSN E-commerce Ventures, which owns Nykaa brand, the 1-year lock-in period for its pre-IPO investors ended on 10 November this year. Following this, the pre-investors of Nykaa rushed to sell their shares and book profits.
In November so far, private equity firm TPG Growth has offloaded Nykaa shares worth over ₹1,000 crore. Consequently, the stock price of the beauty and fashion retailer is down by 8.8% this month.
Similarly, One97 Communications, the parent company of Paytm, also witnessed a sell-off. For the pre-IPO investors of the fintech player, the lock-in period ended on 18 November 2022. One of the early investors of the company, SoftBank Group, divested 4.5% stake in Paytm worth ₹1,631 crore. Due to this, shares of Paytm are down by over 25% this month to ₹475, which is significantly below its issue price of ₹2,150 per share.
In this month, the lock-in period of companies like Latent View Analytics, Tarsons Products, Go Fashion, Venus Pipes and Ethos are expected to conclude 23-30 November. So, would they also endure similar fate or buck the trend?
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Good to knowWhat is the debt-to-equity ratio?
The debt to equity (D/E) ratio is a financial metric that shows how much debt (or loans) and equity a company uses to run its business. It is calculated by dividing total debt by shareholders’ equity. While a preferable D/E ratio differs from industry to industry, a lower ratio is generally considered better. In general, investors avoid companies with very high D/E ratios because it would mean the company could go into a debt trap, especially during recessions.
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