The Indian stock market is likely to open trading on Thursday, November 12, with limited volatility. After Wednesday's sharp rise, investors will keep an eye on GIFT Nifty, inflation data and updates from major companies including Bajaj Finance, Tata Power.
Business News: After two consecutive trading sessions of growth in the Indian stock market, investors may appear a little cautious on Thursday. On November 11, the Sensex rose 772.75 points to close at 81,879.40, while the Nifty rose 210.40 points to 25,255.05. Buying by foreign investors and softening of crude oil prices supported the market. Now the global market, quarterly results of companies and economic data will be important in deciding today's move.
GIFT Nifty gives indications of limited gains, buying by foreign investors continues
At around 8 am on Thursday, GIFT Nifty was trading around 25,270. Due to this, instead of a big rise in the market, a normal start is being predicted. However, the market environment has improved with the return of foreign investors in the last few trading sessions. On Wednesday, foreign portfolio investors bought shares worth about Rs 12,563 crore. Their total purchases so far in November have reached $6.43 billion.
Buying was also seen in American markets on Wednesday. The Nasdaq rose 1.6 percent and the S&P 500 rose about 1.3 percent. Dow Jones gained about 255 points. However, mixed signals are coming from Asian markets.
Why will there be movement between Tata Power and Bajaj Finance?
Today Tata Power may remain in the focus of investors. The company's consolidated net profit in the September quarter increased by 48.6 percent to Rs 1,366.1 crore. Revenue also increased by 26.3 percent to Rs 19,635.9 crore. The company's board has approved an investment of Rs 11,871 crore on a 1,800 MW pumped storage project in Maharashtra. Apart from this, Sanjay Banga has been appointed CEO Designate. He will take over the responsibility of CEO and Managing Director from May 1, 2027.
On the other hand, Bajaj Finance has started Qualified Institutional Placement i.e. QIP on 11th November. For this, the floor price of Rs 992.25 per share has been fixed. The company can give a maximum discount of 5 percent under the rules. Investors' response to this fund raising plan will be important.
The impact of the results and decisions of these companies can also be seen
Government company Mishra Dhatu Nigam's second quarter profit increased by 114.8 percent to Rs 27.8 crore. Revenue also increased by 41.1 percent to Rs 295.9 crore. In contrast, Triveni Turbine's profit declined by 41.6 percent to Rs 53.3 crore. DCX Systems' loss narrowed to Rs 25 lakh, but its revenue fell 27.3 per cent to Rs 140.2 crore.
Aurobindo Pharma will be monitored in the pharma sector. The US drug regulator US FDA has placed the inspection of its subsidiary Lannett's Seymour plant in the Official Action Indicated category. Four objections were raised during inspection. ITC has increased the price of Gold Flake RSFT cigarette pack from Rs 125 to Rs 135. Whereas in Tata Investment Corporation, Noel Tata has been made Chairman Emeritus with effect from November 12.
Dixon Technologies has sold 1.14 percent stake in Aditya Infotech for about Rs 581.65 crore. Motilal Oswal and Kotak Mahindra Mutual Fund were the buyers in this deal.
Will keep an eye on the results of HAL, IRCTC and Ola Electric
On Thursday, many companies including HAL, IRCTC, Ola Electric, Vodafone Idea, Oil India, NMDC, Manappuram Finance, Page Industries, Alkem Laboratories and Rail Vikas Nigam will release quarterly results. Apart from this, shares of Hindustan Unilever, ONGC, IRB Infrastructure and Bayer CropScience will trade ex-dividend.
Kaynes Technology shares will remain under F&O ban. Retail inflation figures for October are also to be released today. This may further impact market expectations regarding interest rates.