All You Need To Know Going Into Trade On November 24

Asian stocks were steady Wednesday and Treasury yields held a climb as traders weighed the prospect of tighter monetary policy to curb inflation.

Shares fell in Japan and fluctuated in South Korea and Australia. U.S. futures wavered after energy and financials helped the S&P 500 eke out a gain, while the Nasdaq 100 extended a drop.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, rose 0.33% to 17,566 as of 7:25 a.m.

The Treasury yield curve steepened overnight and the dollar ticked higher. Bond market inflation expectations have retreated from mid-November highs on bets the Federal Reserve will speed up the withdrawal of monetary stimulus.

Curbing inflation is now center-stage for policy makers, building up a test for markets as ultra-loose, pandemic-era monetary stimulus is scaled back. A deluge of U.S. data and the latest Fed minutes, all due Wednesday, will give investors a read on price pressures and the economic recovery.

Elsewhere, oil pared a rally sparked by a smaller-than-expected move from consumer nations to tap strategic reserves. Gold is being pressured by higher yields.

Stocks To Watch

• Bharti Airtel: Moody's Investor Service has changed Bharti Airtel’s outlook to positive from stable. It affirmed Bharti Airtel’s long-term corporate family rating at Ba1. Positive outlook reflects Airtel’s improving operating performance and credit metrics, Moody’s said.

• Zomato: Zomato South Africa Proprietary (Pty), a step-down subsidiary of the company, has initiated the process of deregistration.

• Poonawalla Fincorp: Sanjay Chamria, Executive Vice Chairman of the company has stepped down from the board of directors of the company after serving as the co-founder since inception of the company.

• Forbes & Company: Shareholders approved the composite scheme of arrangement between Requisite Aquaignis Technologies, Euro Forbes Financial Services, Eureka Forbes, Forbes & Company and Forbes Enviro Solutions and their respective shareholders.

• Ujjivan Small Finance Bank: The RBI has approved the appointment of Banavar Prabhakar, Independent Director, as part-time Chairman of the bank for a period of 3 years w.e.f. November 23.

• Srikalahasthi Pipes: NCLT approved the Scheme of Amalgamation of the company with Electrosteel Castings with effect from the appointed date of October 1, 2020.

• Future Enterprises: The Brickwork Ratings India has downgraded the rating of company’s NCDs to D from C.

• KDDL: The company has increased its stake in Kamla Tesio Dials to 69.79% from 49.10%. The company has acquired 2.06 lakh shares of KTDL.

• Balaji Amines: Production in the DMF plant has started after carrying out all the rectifications. On October 6, the DMF plant was shutdown because of a minor incident.

Pledge Share Details

• Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 1.75 lakh shares on November 22.

  As reported on November 23.

Bulk Deals

• Vedanta: Vedanta Netherlands Investments B.V. bought 5 crore shares (1.35%) at Rs 349.7 per share. Promoter Twin Star Holdings bought 8.78 crore shares (2.36%) at Rs 349.7 per share.

• Kirloskar Pneumatic Co.: HDFC Mutual Fund sold 5.23 lakh shares (0.81%) at Rs 392 per share.

Block Deals

• HCL Technologies: Vama Sundari Investments (Delhi) bought 39.50 lakh shares (0.15%) at Rs 1,110 per share. Promoter HCL Avitas sold 39.50 lakh shares (0.15%) at Rs 1,110 per share.

Insider Trades

• Bajaj Holdings & Investment: Promoter Bachhraj & Company bought 51,500 shares between November 18-22.

• Mangalore Chemicals & Fertilizers: Promoter Akshay Poddar bought 1 lakh shares on November 18.

• Meghmani Finechem: Promoter Kalpanaben Patel bought 11,750 shares on November 22.

Who’s Meeting Whom

• UltraTech Cement: To meet Aditya Birla Sunlife Insurance and Point 72 Asset Management on November 24.

• ACC: To meet Franklin Templeton on November 24.

• Nuvoco Vistas Corporation: To meet BNP Paribas MF and Elara Securities on November 24.

• Gokaldas Exports: To meet SBI MF on November 24.

• Blue Star: To meet Hillfort Capital and IIFL Securities on November 25 and Capital Global on November 30.

• Crompton Greaves Consumer Electricals: To meet Fidelity Management Research on November 25, White Oak Advisors on November 30 and Invesco Mutual Fund on December 1.

• Butterfly Gandhimathi Appliances: To meet IDFC Mutual Fund on November 25.

• IIFL Finance: To meet Phillip Capital on November 26.

Trading Tweaks

• Ex-Date Interim Dividend: National Aluminium Co., Power Finance Corporation, Amara Raja Batteries, Crisil, Gujarat Pipavav Port, Granules India, Gujarat Themis Biosyn, Hinduja Global Solutions, Manappuram Finance, Polyplex Corporation, Rashtriya Chemicals & Fertilizers, RITES

• Ex-Date Special Dividend: Gujarat Themis Biosyn, Morganite Crucible (India)

• Record Date Interim Dividend: Computer Age Management Services, Natco Pharma, Cochin Shipyard, Hindustan Aeronautics, Likhitha Infrastructure, Oil India

• Move Into Short-Term ASM Framework: Fino Payments Bank

• Move Into ASM Framework: JBM Auto

Money Market Update

• The rupee ended at 74.42 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.40.

F&O Cues

• Nifty November futures ended at 17,489.60; a discount of 13.75 points.

• Nifty November futures shed 22.19% and 40,033 shares in Open Interest

• Nifty Bank November futures ended at 37,268.10; a discount of 4.7 points

• Nifty Bank November futures shed 8.45% and 6,651 shares in Open Interest

• Securities in the ban list: Escorts, Vodafone Idea

Top Research Reports

• Banking Sector Q2 Review - Credit Growth Improves: CARE Ratings

• Cement Sector Update - Higher Input Costs Dent Margins Sharply: Nirmal Bang

• Telecom Sector Update - Subscriber Base Consolidates; Reliance Jio Leads The Growth: Motilal Oswal

• Insurance Sector Update - Premium Up ~14% Year-On-Year In October 2021: Motilal Oswal