Mankind Pharma hits all-time high, Zen Tech bags export order & more
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Benchmark indices ended lower for the second straight day
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In all, 27 of the NIFTY50 stocks closed in the red
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Brent crude futures rose 1.7% to trade at $81.9 per barrel amid fears of more supply cuts by OPEC
Among the NIFTY sectoral indices, IT (+0.6%) and PSU Bank (+0.1%) were the top gainers, while Auto (-0.7%) and Media (-0.6%) were the top losers.
What's Up
| Top gainers | Today's change |
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| Divi’s Labs | 3,672 ▲ 71 (+1.9%) |
| Bharti Airtel | 963 ▲ 16 (+1.7%) |
| Wipro | 400 ▲ 4.7 (+1.2%) |
What's Down
| Top losers | Today's change |
| --
| --
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| Adani Enterprises | 2,151 ▼ 57 (-2.6%) |
| Bajaj Finance | 7,065 ▼ 155 (-2.1%) |
| M&M | 1,553 ▼ 31 (-1.9%) |
Market Sentiment
| USD-INR | 83.37 ▲ 0.08 (+0.10%) |
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| NIFTY MIDCAP 100 | 41,856 ▲ 45 (+0.11%) |
| NIFTY SMALLCAP 100 | 13,872 ▼ 9.0 (-0.07%) |
| India VIX | 12.15 ▲ 0.32 (+2.7%) |
Stock Buzz
⭐ Nifty Pharma hits record high
The Nifty Pharma index set a new all-time high, backed by solid earnings by pharma companies in the September quarter. The index has climbed nearly 9% since 26 October, beating the benchmark indices Sensex and Nifty, which advanced 4.5% each. Alkem Laboratories led the rally with a 23% gain in the last month, followed by Aurobindo Pharma with 18%, IPCA Labs with 15%, and Zydus Life and Torrent Pharma with 11% each.
⭐ Zen Technologies zooms on order win
Shares of the defence training and anti-drone solutions provider were locked in the upper circuit at 5%. This was after the company received an export order worth ₹42 crore from a friendly nation. The order consists of state-of-the-art simulators, aligning with the national objective of becoming a net defence exporter.
⭐ Tata Investment gains ahead of Tata Technologies IPO
Tata Investment Corporation gained over 15% to hit a fresh 52-week high today. The Tata Group company witnessed a sharp rally ahead of the Tata Technologies IPO, which will open for subscription on 22 November. Tata Technologies is a subsidiary of Tata Motors, and Tata Investment Corporation is a promoter of the auto major. As per experts, this IPO will allow Tata Investment Corporation to unlock value. As a result, its shares are witnessing strong investor traction.
⭐ Mankind Pharma scales new high
Shares of the pharmaceutical company closed 4.8% higher, touching a new all-time high today, after the company became part of the Financial Times Stock Exchange (FTSE) All-World, Large-Cap, Total-Cap, and All-Cap indices, which measure the performance of global stocks of various market sizes by their market capitalisation.
IPO Corner
⭐ The ₹2,150 crore IPO of Indian Renewable Energy Development Agency (IREDA) will open for subscription between 21 to 23 November. ** Click here** to pre-apply for the IPO.
⭐ Tata Group company, Tata Technologies will launch its ₹3,042 crore IPO on 22 November. This will be the first IPO from Tata Group in nearly two decades. This IPO will remain open till 24 November. ** Click here** to pre-apply for the IPO.
⭐ The IPO of Gandhar Oil Refinery India, a prominent manufacturer of white oils will be open for subscription between 22 to 24 November. The company plans to raise ₹500 crore through this public issue. ** Click here** to pre-apply for the IPO.
⭐ Fedbank Financial Services—a subsidiary of Federal Bank—which primarily offers gold and MSME loans, will launch its IPO on 22 November. ₹1,092 crore IPO will remain open till 24 November. ** Click here** to pre-apply for the IPO.
⭐ Flair Writing IPO opens for subscription on 22 November. The writing instruments company plans to raise ₹593 crore through this IPO. ** Click here** to pre-apply for the IPO.
Learn with UpstoxWhat is a circuit breaker?
Circuit breakers temporarily halt trading on an exchange when a stock or broad index moves in excess of a pre-set threshold amount. A circuit breaker is a mechanism used to prevent panic and speculation in the market. SEBI decides the limits and stop time for Indian markets. It sets the circuits at 2%, 5%, 10% or 20% of the previous price. There are two kinds of circuits, viz. lower and upper circuits, which are the minimum and maximum threshold prices.
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