Business Desk: There were signs of a strong start in the Indian stock market on Wednesday, November 11. In pre-opening trade, the Sensex jumped more than 1,100 points to 82,243.28. Nifty was seen trading above 25,500 by rising 528 points. GIFT Nifty was also at around 25,319, up about 275 points or 1.10% from the previous closing of Nifty futures.
The market closed with gains on Monday
On Tuesday, November 10, the domestic stock market was closed due to Diwali Balipratipada. Earlier on Monday, the Sensex had risen 107.25 points to close at 81,106.65. Nifty stood at 25,044.65 with a gain of 58.25 points. However, on that day the number of declining shares was more than the rising shares. 2,316 shares were closed in decline and 1,922 shares were closed in advance.
Mixed signals from global market
There was mixed trading in Asian markets on Wednesday. On Tuesday, American markets closed with a decline. Inflation figures in the US came in higher than expected and the tough statements by Federal Reserve officials strengthened the fear of increasing interest rates.
The Dow Jones fell 157.86 points, or 0.30%, to close at 52,231.89. The S&P 500 lost 0.38% and the Nasdaq lost 0.74%. The dollar index stood at 102.22, close to its highest level since October 28.
Investment of Rs 6,414 crore in IIFL Finance
The board of IIFL Finance has approved raising Rs 6,414 crore through preferential issue. Blackstone Private Equity will invest Rs 5,000 crore in this. The CCPS issued in return will be converted into equity shares at a price of Rs 602 per share within 18 months.
Company promoters Nirmal Jain and R. Venkataraman will invest Rs 1,264 crore. Whereas Anchorage Capital will invest Rs 150 crore.
Impact of quarterly results of companies
Kalyan Jewelers' consolidated profit increased by 63.9% to Rs 427.1 crore and revenue increased by 31.4% to Rs 10,322.6 crore. Avanti Feeds' profit fell 55% to Rs 68.95 crore, while revenue grew 8.9%.
Matrimony.com's profit increased by 167.1% to Rs 20.73 crore and revenue increased by 17.6% to Rs 134.76 crore. Cochin Shipyard's profit fell 50% to Rs 53.8 crore, while revenue rose 11.7%.
MRF's profit declined by 26.6% to Rs 387 crore, while revenue increased by 17.4% to Rs 8,660.2 crore. Whirlpool of India's profit fell 40% to Rs 25.1 crore while revenue grew 13.7%.
Olectra Greentech's profit increased by 6.8% to Rs 52.9 crore and revenue increased by 4.6% to Rs 687 crore. Suraksha Diagnostics' profit increased by 67% to Rs 15 crore and revenue increased by 25.8% to Rs 99.1 crore.
Rentomojo's profit fell 62.6% to Rs 18.2 crore, while revenue rose 52.8% to Rs 142.1 crore. In the same quarter last year, tax credit of Rs 32.8 crore was received, whereas this time the tax expenditure was Rs 6.2 crore.
Titagarh Rail Systems' profit increased by 49.2% to Rs 63.2 crore, but revenue declined by 0.8% to Rs 792.6 crore. Dredging Corporation of India swung to a profit of Rs 7.3 crore from a loss of Rs 34.2 crore on a standalone basis. Its revenue declined by 0.2% to Rs 211.3 crore.
These companies got big orders and relief
HLE Glascott subsidiary Kinnum Engineering Industries has received an order worth $42-48 million for energy storage projects in North America. It involves designing, engineering, manufacturing and supply of heat exchangers and related equipment. The order will be completed in phases by November 2028.
Ashoka Buildcon has received an EPC project worth Rs 865.9 crore from NHAI to complete the remaining work of the Karvad-Jujwa section of the Vadodara-Mumbai Expressway in Gujarat. IRB Infrastructure's October 2026 toll revenue increased by 25.9% year-on-year to Rs 835.6 crore.
GPT Infraprojects subsidiary Alcon Builders and Engineers has become the lowest bidder for the Rs 103.58 crore North Eastern Railway project. At the same time, BHEL's tax demand of Rs 207.26 crore related to the financial year 2022-23 has been canceled by the Commercial Tax Department of Telangana.
HCL Technologies has launched a semiconductor product lifecycle management solution based on the PTC Windchill PLM platform. On the other hand, Rahul Agarwal, CFO of Epack Prefab Technologies, has resigned with effect from November 9 due to personal reasons and new opportunities.
Keep an eye on these shares also
Goldman Sachs Bank Europe SE has sold 3.04 lakh shares in MK Sons Fine Jewels. This is 0.54% stake of the company. The deal was done at a price of Rs 153.51 per share for a total consideration of Rs 4.67 crore. At the end of September 2026, Goldman Sachs held 1.8% stake in the company i.e. 10.13 lakh shares. Shares of Antala Industries will be listed on BSE SME today.
Results of these companies will come today
Tata Power, Bajaj Hindustan Sugar, EAAA India Alternatives, Garden Reach Shipbuilders and Engineers, Hindustan Copper, Lalita Jewelery Mart, Lotus Eye Hospital, Mishra Dhatu Nigam, Power Make Projects, Talbros Automotive Components and Triveni Turbine will release their quarterly results today.