Stocks to Watch: The domestic stocks are expected to open in the green on Friday, November 29. At 7:48 AM, the GIFT NIFTY futures were trading at 24,139.50 levels, down 9.50 points, or 0.04%. This suggests that the NIFTY50 index will open 24 points higher.
On the global front, Asian shares slipped on Friday while the yen was aiming for its best week in four months as strong local inflation data had traders favouring an imminent rate hike from the Bank of Japan.
Overnight, trading in US equities and Treasuries was closed due to the Thanksgiving holiday, leaving little lead for Asia.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%.
Here is a list of stocks that may remain in focus today.
ZEEL: The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, according to a regulatory filing by the company.
Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54% of the total number of votes cast, while 50.4% voted against the resolution.
Reliance Industries (RIL):
Reliance Industries Ltd has acquired a 21% stake in Wavetech Helium Inc. for $12 million, the company revealed in a regulatory filing dated November 28.
Wavetech Helium Inc. (WHI) is a US-based gas exploration and production company.
Enviro Infra Engineers: Shares of Enviro Infra Engineers are slated to list on the bourses today. The Enviro Infra Engineers IPO allotment status was finalised on Wednesday. The company's IPO was subscribed 89.90 times, as it received bids for 2,76,83,13,747 shares compared to the 3,07,93,600 shares on offer.
M&M:
Mahindra & Mahindra has denied that any penalty has been levied or is being considered on the company over emission levels and said that it does not see any material liability on the company.
SBI Life: Referring to regulatory concerns around the level of insurance business being channelled through bancassurance arrangements, the company added that it would like to mention that IRDAI adopts a consultative process and seeks feedback from all stakeholders, which is then used to prepare the regulatory guidelines/articulate any concerns that the IRDAI may have with the industry.
"We would like to put on record that as part of our regular interactions and consultations with the IRDAI, we have not been made aware of any such regulatory discussions around the level of insurance business being channelled through bancassurance arrangements," the exchange filing added.
Max Financial: Max Life Insurance Company Limited ("Max Life"), a material subsidiary of the company, said it has not received any such directive or communication by the Insurance Regulatory and Development Authority of India (IRDAI) on the capping for the business generation of the insurance companies through their bancassurance partners or any capping in Banca sale of the parent bank, thereby making the said media broadcast unsupported and with no ground.
HDFC Life: The company said that as an organisation, "we believe that detailed industry consultations typically precede regulatory changes of such significance. HDFC Life has a well‐diversified distribution network, which enables us to increase insurance penetration in our country and adapt to the evolving business environment."
Fine Organic Industries: The company intimated about the disruption of operations at the company’s plant situated at Plot No. W-124-A, Khervai MIDC, Badlapur (E), Maharashtra, caused by a fire incident that occurred at the adjacent plant and pursuant to Regulation 30 (read with Part A of Schedule III) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Regulations”).
It added that the company shall resume its manufacturing operations on November 28, 2024, and is actively working on fully restoring all other plant activities to normalcy.
Zomato, YES Bank, and others: On Thursday, the BSE announced revised circuit limits for 55 stocks effective November 29, 2024, as part of its ongoing risk management measures to control excessive market volatility. The new limits include a 10% price band for 46 stocks, such as Zomato, YES Bank, Adani Total Gas, Paytm, LIC, JSW Energy, Oil India, Nykaa, and Varun Beverages.
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PCBL: Carbon black major PCBL Ltd. on Thursday said that the second and final phase of its specialty chemical capacity expansion at the Mundra plant in Gujarat has been successfully commissioned.
This expansion adds 20,000 MTPA to the company's existing capacity, bringing the total specialty chemical capacity at Mundra to 40,000 MTPA.
Newgen Software: The company said it has received a purchase order from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS). The aggregate value of the aforesaid purchase order is ₹32.45 crore (inclusive of 18% GST).
PC Jeweller: The company has fixed December 16 as the record date for the 10:1 share split.
NCC: The company has received a letter of acceptance (LoA) dated November 28, 2024, from the Ken-Betwa Link Project Authority regarding the selection of the company as the successful bidder for the EPC execution of Daudhan Dam under the Ken-Betwa Link Project. The total price for the contract shall be ₹3,389.49 crore (excluding GST).
(With Reuters inputs)
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