Some of the top Nifty gainers were Adani Enterprises, Adani Ports, Tata Motors, BPCL, and Hero MotoCorp. Eicher Motors, Apollo Hospitals and LTIMindtree were among the top losers
The benchmark indices swung between gains and losses in a lacklustre session in the afternoon on November 28, mirroring a subdued global trend. At 12.48 pm, the Sensex was up 6.78 points or 0.01 percent at 65,976.82, and the Nifty was up 39.20 points or 0.20 percent at 19,833.90. About 1,738 shares advanced, 1,512 declined and 126 remained unchanged.
Adani Enterprises: The Adani Group flagship entity soared 13 percent to Rs 2,512 a share on the NSE. The Supreme Court on November 24 reserved its verdict in the Adani-Hindenburg case. Experts say Adani stocks could be rising because the court said it didn’t find a reason to doubt SEBI’s probe into the case, while others advised booking profits .
Adani Ports & Special Economic Zone: The sharp upside seen across Adani Group stocks trickled gains into Adani Ports & SEZ as well. The stock jumped over 7 percent to Rs 854 a share.
Tata Motors: The auto major stock raced over 3 percent to Rs 694 a share 28 ahead of listing of its subsidiary Tata Technologies. Tata Tech’s IPO was subscribed by 69.2 times (x), led by aggressive demand from qualified institutional buyers (QIBs) and non-institutional investors (NIIs). Shares of Tata Tech were enjoying a premium of 82 percent in grey markets, suggested data from IPOwatch.in.
BPCL: Shares of this oil refinery firm surged over 3 percent to hit a 52-week high of Rs 426 after brokerage firm HSBC projected better earnings prospect for the company. HSBC upgraded its call to “buy” from “hold” on BPCL, upgrading target price to Rs 555 a share from Rs 340.
Hero MotoCorp: Shares of this two-wheeler major gained over 2 percent to hit a 52-week high of Rs 3,625 a share. The stock has surged 7 percent in the past five trading sessions.
Eicher Motors: Shares of this Royal Enfield maker slipped nearly 2 percent to the day’s low of Rs 3,777 a share despite the launch of new Himalayan bike at an introductory price of Rs 2.69 lakh.
LTI Mindtree: Shares of this IT major declined 0.9 percent to the day’s low of Rs 5,420 a share amid slowdown in global markets and other external challenges.
Apollo Hospitals and Enterprises: The hospital stock declined a percent to Rs 5,341. The stock has been declining after it hit a 52-week high of Rs 5,595 on NSE on November 20.
ICICI Bank: The private sector lender fell 0.7 percent to Rs 922 a share as investors turned bearish on the counter. Bank Nifty, on the other hand, was marginally up by 0.3 percent, as of 12:55 pm.
SBI Life Insurance Company: The insurer declined a percent to a low of Rs 1,393 a share after the stock hit a 52-week of 1,428 on November 22.
Lovisha Darad Lovisha is passionate about domestic and global equity market development. She writes stories exclusively on equities from a fundamental perspective, gathering insights from niche market gurus.
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