Stock market today: The Indian stock market saw strong, broad-based buying on Monday, November 17, despite weak global signals. Positive Q2 results and hopes of an India-US trade agreement boosted investor confidence.
Marking its sixth straight day of gains, the Sensex climbed 388 points, or 0.46%, to finish at 84,950.95. Meanwhile, the Nifty 50 advanced 103 points, or 0.40%, closing at 26,013.45.
“ The market has maintained its positive momentum, hovering near the key psychological level of 26,000, as investors anticipate a strong catalyst for further upward movement. A potential trade deal remains a crucial trigger that participants are closely monitoring. Currently, the risk-reward ratio is largely favorable, bolstered by stronger-than-expected Q2 earnings from Midcaps, which have reinforced confidence in growth revival and point to potential future earnings upgrades,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Stocks to Watch
Reliance Retail, a subsidiary of RIL, has entered into an exclusive distribution agreement with Germany’s cosnova Beauty to introduce the essence brand in India.
SAIF III Mauritius, SAIF Partners, and Elevation Capital are expected to sell a combined 2% stake in the company through a block deal, according to report.
Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, announced on Monday that it has completed the commissioning of NHPC’s 300 MW solar project under an EPC (Engineering, Procurement, and Construction) contract.
Global investment firm BC Investments (Bain Capital) is expected to offload up to 2% of the pharmaceutical company’s total equity via a block deal, with an indicative floor price of ₹1,296.51 per share, as per reports.
HCL Tech, in partnership with Nvidia, has opened an innovation lab in Santa Clara, California. The facility is designed to help enterprises test, develop, and expand real-world applications of physical AI and cognitive robotics.
Pritesh Vinay has submitted his resignation as Director and announced his decision to leave the Board in order to explore career opportunities beyond the JSW Group.
WPIL, an Indian company, announced on Monday, November 17, that its South African subsidiary has secured a ₹426 crore contract from Matla a Metsi Joint Venture, with the project set to be completed within four years.
KEC International announced on Monday that it has won new orders totaling ₹1,016 crore across multiple sectors. The civil division received contracts in the Buildings & Factories (B&F) segment from its existing customers.
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On Monday, KPI Green Energy announced that it has signed contract agreements with state-run SJVN Ltd for a ₹696.50 crore project to build a 200 MW (AC) solar power plant at the GIPCL Renewable Energy Park in Khavda, Gujarat.
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The pharmaceutical company announced that it has entered into a second brand partnership with Sun Pharmaceutical Industries Ltd for Sodium Zirconium Cyclosilicate (SZC) in India.
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