The domestic stock market is expected to open positively on Thursday, November 21. At 7:34 AM, the GIFT NIFTY futures were at 23,560.50, down by 93 points, or 0.39%. This suggests the NIFTY50 index will open 25 points higher.
Global stocks fell on Wednesday as markets focused on tensions between Russia and the West. At the same time, bitcoin reached a new record high, and the dollar gained after three days of losses.
Nvidia shares dropped by 0.4% in after-market trading after the company predicted fourth-quarter revenue in line with analyst expectations. The stock of the world’s most valuable company had fallen 0.8% during regular trading on Wednesday.
In the commodities market, oil prices increased on Thursday due to concerns over supply disruptions caused by the ongoing Russia-Ukraine war.
Brent crude for January rose by 28 cents (0.4%) to $73.09, while US West Texas Intermediate crude for January rose by 28 cents (0.4%) to $69.03.
The domestic stock market was closed on Wednesday, November 20, due to assembly elections in Maharashtra.
Here is a list of stocks to watch for today’s trading session.
Palantir Technologies (PLTR): Palantir’s market value has increased by over $23 billion recently, reflecting investors’ optimism about more federal spending on areas like national security, immigration, and space exploration. The company’s stock has nearly tripled in value, reaching $61 per share, putting it on par with major defense contractors such as Lockheed Martin.
Nvidia (NVDA): Nvidia reported earnings that exceeded expectations but provided only moderate sales guidance for the future. The company’s next-gen AI chip, Blackwell, has faced overheating issues, but this hasn’t significantly impacted its stock, which rose nearly 5%. Nvidia remains a key player in the AI sector.
Adani Group stocks: Investors will keep an eye on Adani Group companies on Thursday, November 21, as Gautam Adani, the chairman of the conglomerate, and seven others have been indicted in New York for an alleged multibillion-dollar bribery and fraud scheme. US prosecutors said that Adani and the others reportedly agreed to pay around $265 million in bribes to Indian government officials to secure contracts expected to yield $2 billion in profits over 20 years, including India’s largest solar power plant project.
Godrej Properties: Godrej Properties Ltd has acquired 53 acres of land in Kolkata to develop a residential project, which is expected to generate around ₹500 crore in revenue.
Dr Reddy’s: Dr Reddy’s Laboratories Ltd announced on Tuesday that the US Food and Drug Administration (USFDA) issued a Form 483 with seven observations after inspecting its active pharmaceutical ingredient (API) manufacturing facility in Bollaram, Hyderabad.
GRSE: Garden Reach Shipbuilders and Engineers (GRSE) Ltd, a defence PSU, signed a contract with the West Bengal government’s transport department on Tuesday to build 13 hybrid ferries. These ferries will be used on the River Hooghly by the West Bengal Transport Infrastructure Development Corporation Ltd (WBTIDCL).
NLC India: On November 20, NLC India announced it will invest ₹3,720 crore in its subsidiary, NLC India Renewables Ltd, to carry out green energy projects. The company will also transfer renewable assets to NIRL in exchange for a stake in the green energy firm as part of its asset monetization plan.
PSP Projects: Adani Infra, a unit of Adani Enterprises, will acquire a 30.07% stake in PSP Projects for ₹685.36 crore to strengthen its construction capabilities. The acquisition will be followed by an open offer.
UPL: UPL announced plans for a ₹3,377 crore rights issue by issuing 9.38 crore shares at ₹360 per share, a 34% discount to its current market price of ₹547. The company’s stock has fallen by 7% so far in 2024.
Bharti Airtel: Nokia has won a multi-billion-dollar, multi-year contract from Bharti Airtel to supply 4G and 5G equipment across key Indian cities. The deal includes deploying equipment powered by Nokia’s energy-efficient ‘ReefShark System-on-Chip technology.’
Tata Power: Tata Power has partnered with Bhutan’s Druk Green Power Corporation Ltd (DGPC) for the development of 5,000 MW of clean energy in Bhutan, marking the largest partnership in the clean energy sector between India and Bhutan.
JSW Steel: JSW Steel has been declared the preferred bidder for the Codli Mineral Block XII in Dharbandora, Goa, after receiving official communication from the Directorate of Mines & Geology, Government of Goa.
