Domestic equity barometers ended with decent gains on Tuesday. The Nifty traded above the 19,750 mark. Metal, media and realty shares were in demand. On the other hand, PSU bank, IT and FMCG stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 275.62 points or 0.42% to 65,930.77. The Nifty 50 index rose 89.40 points or 0.45% to 19,783.40.

In the broader market, the S&P BSE Mid-Cap index added 0.14% while the S&P BSE Small-Cap index gained 0.20%.

The market breadth was positive. On the BSE, 2,021 shares rose and 1,701 shares fell. A total of 132 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Indian Renewable Energy Development Agency (IREDA) received bids for 80,72,25,480 shares as against 47,09,21,451 shares on offer, according to stock exchange data at 15:51 IST on Tuesday (21 November 2023). The issue was subscribed 1.71 times.

The issue opened for bidding on Tuesday (21 November 2023) and it will close on Thursday (23 November 2023). The price band of the IPO is fixed at Rs 30-32 per share. An investor can bid for a minimum of 460 equity shares and in multiples thereof.

Stocks in Spotlight:

Bajaj Finance rose 0.45%. The company has announced that the debenture allotment committee of the company has allotted 50,000 secured redeemable non-convertible debentures (NCD), at the face value of Rs 1 Lakh each, aggregating to Rs 503.17 crore. The said NCDs have a tenor of 3591 days and their redemption date is 20 September 2033. The privately placed instruments bear a coupon rate of 7.79% per annum, which is payable annually.

Oberoi Realty rallied 3.87% after the company announced the launch of ?Forestville by Oberoi Realty?, the first luxury residential project in Kolshet, Thane. Spread across 18 acres; Forestville will consist of 5 residential towers. The company has launched the first phase of this development consisting of 3 towers.

Karnataka Bank added 0.09% while HDFC Life Insurance Company gained 2.30%. Karnataka Bank has entered into a strategic corporate tie-up with HDFC Life Insurance Company to offer life insurance products to its customers.

Tata Power Company gained 0.69%. Tata Power Renewable Energy (TPREL), a subsidiary of The Tata Power Company, has crossed the 1.4 GW capacity of group captive projects in last seven months. This achievement is the result of signing of Power Delivery Agreements (PDA) with various industries across segments.

KEC International declined 0.90%. The company announced that it has secured new orders of Rs 1,005 crore across its various businesses in India and overseas.

Vascon Engineers advanced 2.96%. The company has received Letter of Intent from Municipal Secretary?s Department - Pimpri-Chinchwad Municipal Corporation, Pune of Rs. 356.78 crore (excluding GST) for Construction of General Hospital Building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune (Maharashtra).

Kirloskar Electric Company rallied 3.09%. The management has withdrawn the lockout at the company's unit no. 15 with effect from 20 November 2023 and has requested all workmen through labour union to report to work.

RateGain Travel Technologies shed 0.37%. The company announced the completion of a capital raise of Rs 600 crore through a qualified institutional placement (QIP) of equity shares. The issue opened on 15 November 2023 and concluded on 20 November 2023, with a total of 93,31,259 equity shares being allotted. The shares were priced at Rs 643 per share, resulting in an issue size of approximately Rs 600 crore.

Datamatics Global Services rose 1.12% after the company said it inked a contract with a US-based firm for digital experiences business. The contract spans over a period of 5 years, and the total client target spend is projected at $36 million.

Global Markets:

Most of the European markets declined while Asian stocks traded mixed on Tuesday.

Investors will keep an eye out for the minutes from the Federal Reserve?s October 31 to November 1 policy meeting. Traders are hoping to glean some insight into policymakers? rate decision and learn what it might take for them to change tack.

Fed funds futures pricing data suggests a nearly 100% probability that the Federal Open Market Committee will hold steady on rates at its upcoming December meeting.

US stocks jumped Monday to start a holiday shortened week, boosted by strong tech gains led by Microsoft and Nvidia. Microsoft Corp. hit a new all-time high after CEO Satya Nadella said former OpenAI chief Sam Altman will be joining the tech giant to lead a new AI research team.

Oil prices rose more than 2% on Monday amid anticipation that the Organization of Petroleum Exporting Countries could implement another production cut this weekend.

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