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Market extends rally, Himadri Speciality forays into lithium-ion batteries & more

NIFTY50: 20,937 ▲ 82 (+0.4%)
SENSEX: 69,653 ▲ 357 (+0.5%)


Among the NIFTY sectoral indices, Media (+2.1%) and IT (+1.6%) are the top gainers, while Bank (-0.3%) and Pharma (-0.3%) are the top losers.

What's Up

Top gainers Today's change
Wipro
420 ▲ 15 (+3.9%)
LTI Mindtree 5,644 ▲ 156 (+2.8%)
ITC
463 ▲ 11 (+2.5%)

What's Down

Top losers Today's change
Adani Enterprises
2,893 ▼ 66 (-2.2%)
Eicher Motors 4,049 ▼ 86 (-2.1%)
Cipla
1,207 ▼ 17 (-1.4%)

Market Sentiment

USD-INR 83.35 ▼ 0.001 (-0.02%)
NIFTY MIDCAP 100 44,232 ▲ 109 (+0.2%)
NIFTY SMALLCAP 100 14,507 ▲ 54 (+0.3%)
India VIX 13.74 ▲ 0.28 (+2.1%)

Stock Buzz


⭐ Lupin gets USFDA nod for anti-smoking drug

The pharma major has received the USFDA approval for its anti-smoking drug Varenicline tablets. This drug will be manufactured at the company's Pithampur facility. Varenicline tablets had estimated annual sales of $430 million in the US, as of October 2023, according to IQVIA. Meanwhile, shares of Lupin closed 1.1% lower amid profit booking.

⭐ Himadri Speciality to foray into lithium-ion batteries

Shares of the chemical manufacturer rose 3.3%, touching a fresh 52-week high of 307 per share. This comes after the company announced plans to set up a manufacturing facility in Odisha to produce cathode materials, which are critical components of Lithium-ion cells. The first phase of the facility will be operational in 27 to 36 months, with estimated investment of 1,125 crore and capacity of 40,000 MTPA. This will be funded through internal accruals and debt. The company expects to generate a revenue of 4x the capex with strong profitability.

⭐ Oberoi Realty gains on land acquisition

Oberoi Realty has completed the acquisition of 6.4 acre land for ₹196 crore. The land is located in Thane, Maharashtra. The company had earlier signed an MoU with NRB Bearings for acquiring this land parcel, which is contiguous to the existing 68-acre property owned by the company. The acquisition has now consolidated both land parcels. Meanwhile, shares of the real estate developer closed 1.7% higher today.

⭐ Force Motors falls on lower production and sales

The automobile company hit a 5% lower circuit today after its production and sales declined in November. Its total production stood at 2,216 units, down 22% sequentially. Similarly, total domestic sales slipped by 23.2% month-on-month (MoM) to 1,732 units.

⭐ Jindal Drilling gets a new order from ONGC

The offshore drilling and allied service provider received an order worth ₹72 crore from Oil & Natural Gas Corporation (ONGC). The order involves the deployment of rig Jindal Supreme for a period of three years. Rig Jindal Supreme is an exploration platform designed to extract and process petroleum and natural gas that lie in rock formations beneath the seabed. Jindal Drilling closed 1.5% lower despite the order win.


In other news

⭐ Wipro Consumer Care, a FMCG arm of Wipro, has acquired three soap brands – JO, Doy, and Bacter Shield – from VVF. This is the third acquisition by the company in the last one year, which will help deepen its presence in the Indian soap market.


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Categories: Market Recap