Indices at previous closing
Nifty50: 17,898 ▼-100 (-0.5%)
Sensex: 60,008 ▼-314 (-0.5%)
Nifty Bank: 38,041 ▼-265 (-0.6%)
For more updates on F&O, click here.
Vedanta plans corporate restructuring
To unlock value, Vedanta plans to undertake a complete review of its existing corporate structure. It intends to house Aluminium, Iron & Steel and Oil & Gas businesses into standalone listed entities.
The exercise could involve demergers, spin-offs, strategic partnerships, etc. resulting in simplification and streamlining of the overall corporate structure. The company said that it has, over the years, improved operational performance of the businesses, increased cash flows, and reduced debt. Its shares rose 1.6% yesterday and have gained 11% so far this month.
Rentals recover to pre-pandemic levels
According to the management of Embassy Office Parks REIT, rentals are back to pre-pandemic levels in key markets like Bengaluru. Also, it is witnessing an encouraging and positive uptick in new inquiries and leases.
The management added that companies are looking for new spaces with the demand coming from the technology sector and global captive centres. The rise in hiring in the IT space has translated into demand for office space. Shares of Embassy Office Parks REIT were flat yesterday.
Radico Khaitan plans to expand premium portfolio
According to reports, the Indian spirit maker is aiming to expand its premium spirits category over the next two years. It plans to introduce several new brands in both white and brown spirit categories.
The company said that its premium category has been witnessing good traction. It has expanded its malt distillation and maturation capacity and this increase in capex will lead to a rise in output capacity by 2023. Meanwhile, shares of Radico Khaitan were up 0.4% yesterday.
Sectoral indices (November 17)
| Top gainers | Top losers |
| Nifty Auto ▲ 0.7% | Nifty Realty ▼ 1.6% |
| Nifty Media ▲ 0.4% | Nifty Pharma ▼ 1.2% |
Global markets (at 8:30 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.0% |
| Nikkei 225 (Japan) | ▼ 0.8% |
| Hang Seng (Hong Kong) | ▼ 1.3% |
| SSE Composite (China) | ▼ 0.5% |
| Dow Jones (US) (November 17) | ▼ 0.5% |
| NYSE (US) (November 17) | ▼ 0.6% |
| Nasdaq (US) (November 17) | ▼ 0.3% |
| S&P 500 (US) (November 17) | ▼ 0.2% |
Fact of the day
In Egypt, there is a two-week holiday in August to celebrate the world's longest river Nile.
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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.