Latest Stock Market News

On the technical charts, the RSI of the stock stood at 43.22.

The Nifty Bank index was trading 1.01 per cent at 50115.85.

CIEL HR Services has filed for an IPO to raise funds through a fresh issue and an offer for sale. The company plans to use the proceeds for acquisitions, investments, and working capital. CIEL HR, promoted by Pandiarajan Karuppasamy, offers a range of HR services and technology platforms to various sectors.

Adani Energy Solutions has acquired a 100% stake in Pune-III Transmission Limited (PTL) through a Share Purchase Agreement with PFC Consulting. The acquisition aligns with Adani Energy’s strategy to boost shareholder value and supports renewable energy evacuation from Khavda RE Park. PTL’s projects include establishing high-voltage substations and a 322 km transmission line.

The Indian market is expected to consolidate on November 21, 2024, due to muted global cues. Nifty futures closed with a slight loss on Tuesday, and the market was shut on Wednesday. Experts recommend stocks like Varun Beverages, Coromandel International, Tech Mahindra, and Indigo as top trading ideas, with specific targets and stop-loss levels for short-term traders.

The earnings print in the recently reported quarter were not exciting. Input cost moderation led to strong earnings growth in FY24. Considering the high base, a meaningful improvement in volume is required to sustain the earnings momentum.

JSW Steel shares are expected to be in focus on Thursday after the company announced that it has been declared the preferred bidder for Codli Mineral Block XII in Dharbandora, Goa. The company submitted the highest final offer, valued at 92.60% of the mineral dispatched.

Oil prices saw a slight increase on Thursday due to escalating tensions between Russia and Ukraine, raising supply concerns. Despite increased U.S. crude stocks and restored output at a North Sea oilfield, the potential for OPEC+ to delay planned production increases due to weak global demand further fueled market uncertainty.

Bitcoin hit a record Thursday, topping $95,000 for the first time as it benefits from expectations that president-elect Donald Trump will push through measures to ease regulation of the unit. The digital currency hit $95,004.50 in early Asian trade, with observers expecting it to soon reach $100,000. dan/cwl