Sunday, December 4, 2022
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Record-tod Thursday – Upstox

Handy50: 18,484 216 (+1.1%)
Sensex: 62,272 762 (+1.2%)

Hello people!

You all have probably been looking up all day today with the Sensex and Nifty hitting new highs. But in South Korea, the government is redesigning street furniture so that people can continue to do what they do today: look down (into their phone screens) as they walk. South Korea is concerned about the increase in accidents and has installed traffic lights on the roads. Crossing the street in South Korea? Look down.

  • Benchmark indices reached 52-week highs during the last trading session date of the Nov F&O series.
  • In total, 44 of the Nifty50 shares closed in the green.
  • The rupee closed 22 paise higher at 81.63 against the dollar.

All Nifty sector indices closed higher, with IT (+2.6%) and oil & gas (+1.1%) making the biggest gains.

Toppers Today’s change
Apollo Hospitals 4,815 ▲ 209 (+4.5%)
HDFC life 572 ▲ 24 (+4.4%)
BPCL 320 ▲ 10 (+3.3%)
Top losers Today’s change
Cipla 1,097 ▼ 10 (-0.9%)
Coal India 229 ▼ 1.6 (-0.6%)
Bajaj Finserv 1,632 ▼ 4.1 (-0.2%)

What’s trending

⭐Sensex Superstar


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Sensex was the star of the day, scoring 900 points to hit a new high of 62,412 in intraday trading. It ended the day 762 points higher at 62,272, also the first close above 62,000. The highlight came on the day when the monthly derivative contracts (M&O) expired. The rally was driven by a rise in IT companies. The Sensex had reached its last all-time high of 62,245 on October 19, 2021. Meanwhile, the Nifty50 index also hit a 52-week high.

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⭐ New assignment for L&T construction

LT (NSE): 2,05631 (+1.5%)

Larsen & Toubro (L&T) has just won an order to build what could become one of the largest clean energy projects of its kind in India. The order of the The Greenko group is calling for the construction of an off-stream pumped storage project in Madhya Pradesh. An L&T-led consortium will complete the project’s civil and hydro-mechanical works in 30 months.

⭐Now on view: PVR’s Kerala superplex

PVR (NSE): 1,82335 (+1.9%)

PVR put in a strong showing at the box office (for stocks) today, up more than 2% intraday. The increase came after the company announced that it is opening a 12-screen superplex at Lulu Mall in Thiruvananthapuram. With this, the company now operates 876 screens in 76 cities in India and Sri Lanka.

⭐ Sugar fever

BALRAMCHIN (NSE): 368 13 (+3.9%), RENUKA (NSE): 56 0.9 (+1.7%)

Sugar stocks were up 2-4% intraday today. This after the Indian Sugar Mills Association (ISMA) said the government is likely to allow an additional export of 2-4 million tonnes (MT) of sugar in the second tranche this year. With this extension, sugar exports can reach 8-10 tons this year. In the first tranche, the government had approved 6 tons of exports. Recently, sugar prices hit a seven-month high in the international market, making its export a lucrative option for sugar companies.


November IPOs – Blow hot, blow cold


Nine companies went public in November and raised nearly ₹10,000 crore from investors. How did these IPOs perform? Here’s a quick summary.

DCX Systems kicked off the November IPO rush, debuting on November 11. The company was trading at a 39% premium to its issue price of ₹207 per share. The IPO offering was 69.7 times oversubscribed.

Meanwhile, IPOs from Kaynes Technology, Global Health and Archean Chemical also received positive investor response and were quoted at premiums ranging from 12-32% respectively. Shares of Bikaji Foods also got off to a good start, trading at an 8% premium to ₹332 per share.

But not all companies were so lucky. IPOs from Keystone Realtors, Five Star Business and Fusion Micro Finance received a lukewarm response from investors. The retail portion of these issues was undersubscribed. These IPOs had to rely on the institutional investor class (QIB) to make the cut.

Shares of Five Star Business and Fusion Micro Finance traded at a discount of 2 to 5% below the issue price, while Keystone Realtors made a modest debut at a 3% premium over the issue price. while that of Inox Green is listed at a 7% discount on the issue price.

In short, investor reaction to IPOs in November was like the weather – hit and miss. Will Santa in December cheer companies going public? Check out this space!

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Good to know

What is return on equity (RoE)?

Return on equity (RoE) is a measure of a company’s financial performance. It is calculated by dividing the company’s net income by its shareholders’ equity. Follow RoE to understand how effectively the company manages shareholder funds. The ideal level of RoE differs per sector. Before investing, compare a particular company’s RoE to the industry average for the company or its peers.

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