Domestic equity barometers ended near the flat line with tiny losses on Thursday, breaking a two-day gaining streak. The Nifty settled around the 19,800 level after hitting the day?s high of 19,875.15 in morning trade. Realty, oil & gas and metal stocks advanced while pharma, healthcare and IT shares were under pressure. Trading was volatile due to expiry of weekly index options on the NSE.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 5.43 points or 0.01% to 66,017.81. The Nifty 50 index lost 9.85 points or 0.05% to 19,802.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.44%.

The market breadth was positive. On the BSE, 2,066 shares rose and 1,638 shares fell. A total of 140 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 4.63% to 11.32.

IPO Updates:

The initial public offer (IPO) of Tata Technologies received bids for 60,12,02,820 shares as against 4,50,29,207 shares on offer, according to stock exchange data at 15:30 IST on Thursday (23 November 2023). The issue was subscribed 13.35 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 475-500 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.

The IPO of Flair Writing Industries received bids for 7,35,11,074 shares as against 1,44,13,188 shares on offer, according to stock exchange data at 15:30 IST on Thursday (23 November 2023). The issue was subscribed 5.10 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 288-304 per share. An investor can bid for a minimum of 49 equity shares and in multiples thereof.

The IPO of Gandhar Oil Refinery (India) received bids for 28,74,64,936 shares as against 2,12,43,940 shares on offer, according to stock exchange data at 15:30 IST on Thursday (23 November 2023). The issue was subscribed 13.53 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 160-169 per share. An investor can bid for a minimum of 88 equity shares and in multiples thereof.

The IPO of Fedbank Financial Services received bids for 4,36,16,089 shares as against 5,59,23,660 shares on offer, according to stock exchange data at 15:30 IST on Thursday (23 November 2023). The issue was subscribed 0.78 times.

The issue opened for bidding on Wednesday (22 November 2023) and it will close on Friday (24 November 2023). The price band of the IPO is fixed at Rs 133-140 per share. An investor can bid for a minimum of 107 equity shares and in multiples thereof.

The IPO of Indian Renewable Energy Development Agency (IREDA) received bids for 17,01,41,36,380 shares as against 47,09,21,451 shares on offer, according to stock exchange data at 15:30 IST on Thursday (23 November 2023). The issue was subscribed 36.13 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:

TVS Motor Company advanced 2.20% after the company announced its entry into Vietnam in collaboration with Minh Long Motors ? its distribution partner. TVS Motor Company will offer a range of scooters and underbone motorcycles, across multiple price points, in keeping with its commitment to responsible and sustainable mobility.

InterGlobe Aviation added 0.18%. The company has received orders from the Commissioner of Income Tax Appeals for the Assessment year 2016-17 and 2017-18. A demand of Rs 739.6 crore (AY 2016-17) and Rs 927 crore (AY 2017-18) was raised by the Assessing officer, against which the company had preferred appeal before Commissioner of Income Tax -Appeals.

C.E. Info Systems rose 0.62%. A meeting of the board of directors of the company is scheduled on 27 November 2023 to consider and approve the proposal of raising the funds by way of issuance of equity shares through permissible modes including but not limited to a private placement, a qualified institutions placement, preferential issue or any other method or combination of methods.

Honasa Consumer hit an upper circuit of 20%. The company announced Q2FY24 results. The company delivered Rs 496 crore revenue from operations with 21% YoY growth. EBITDA was at Rs 40 crore (+53% YoY growth) and PAT was at Rs 29 crore (+94% YoY growth).

Lupin declined 1.76%. The drug maker announced that it has launched fixed-dose triple combination drug (FDC) under the brand name ?Vilfuro-G? for the effective management of chronic obstructive pulmonary disease (COPD) in India.

Strides Pharma Science gained 1.39% after its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Singapore received approval from the US Food & Drug Administration (USFDA) for generic Suprep Bowel Prep Kit oral solution.

Welspun Corp fell 2.31%. The firm said that its wholly owned subsidiary, Sintex BAPL has got Odisha Government?s nod for its proposal to invest Rs 479.47 crore for establishing a manufacturing unit for CPVC, UPVC, SWR, Agri Pipes, PVC fittings and Plastic tanks with annual capacity of 37,520 MT in Sambalpur, Odisha.

Power Grid Corporation of India shed 0.21%. The power transmission company on Wednesday announced that its committee of directors on investment on projects has approved two investment proposals aggregating to Rs 367.1 crore.

Central Depository Services (CDSL) jumped 4.71%. The company said it crossed a milestone of registering over 10-crore demat accounts.

Global Markets:

Markets in Europe and Asia advanced on Thursday. Japan?s markets are closed due to a public holiday.

Investors in Europe will be keeping an eye on preliminary purchasing managers? index data from the euro zone for November for the latest indication of economic activity in the services and construction sectors.

Markets will also be keeping an eye on Dutch election results after an exit poll showed right-wing populist Geert Wilders to be on track for a dramatic victory with his Freedom Party, the PVV.

US stocks closed higher on Wednesday after yields briefly fell to their lowest level in two months. Trading was muted ahead of the Thanksgiving holiday on Thursday. U.S. markets will be open for half a day on Friday.

US crude prices fell about 5% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. OPEC said in a statement that the meeting of energy ministers is delayed until next Thursday.

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