Benchmark equity indices settled in green on Thursday to extend the winning streak for a third consecutive session in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets.
The BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains. The NSE Nifty50 of the National Stock Exchange edged up 36.55 points or 0.18 per cent to close at 20,133.15.
Benchmark equity indices settled in green on Thursday to extend the winning streak for a third consecutive session in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets.
The BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains. The NSE Nifty50 of the National Stock Exchange edged up 36.55 points or 0.18 per cent to close at 20,133.15.
"India’s GDP growth upgrade to 6.4% from 6.0% for FY24 by S&P Global Rating has bought optimism to the broad market. The Nifty50 could cross the psychological level of 20,000 and be able to sustain the gains providing long-term support. Bold performance of the global markets and IPOs listing are adding glitters to mid & small caps. State exit poll and the final result slated to be announced on Sunday may bring some cautiousness," said Vinod Nair, Head of Research at Geojit Financial Services.
Top Stocks To Watch On December 1:
JSW Steel
Sajjan Jindal-led JSW Group has entered into a joint venture with Chinese automotive giant SAIC Motor to acquire 35 per cent stake in MG Motor India. The partnership aims to create strategic synergies by bringing together sources in the field of automobiles and new technology. The Chinese automobile company will support the joint venture with advanced technology and products to deliver mobility solutions in the Indian market.
Ultratech Cement
The largest cement producer in India will acquire Kesoram Industries’ cement assets in a share-swap deal for an enterprise valuation of Rs 7.600 crore, a move that would help it maintaining the leadership position. The transaction is expected to be completed in 9-12 months subject to regulatory approvals. Ultratech board has approved to issue one share for every 53 shares of Kesoram. The deal value includes debt of around Rs 1,700 crore.
Biocon
Biocon Biologics has completed the integration of Viatris biosimilars business in 30 European countries. The Biocon subsidiary acquired the global biosimilar business of Viatris in November last year. Globally, the company has a robust pipeline of 20 assets of diabetology, oncology, immunology, ophthalmology, and bone health.
LTI Mindtree
The technology consulting and digital solutions firm has been picked as a strategic partner by Metasphere, a wastewater application specialist, to improve their smart sewer management platform. The company will transform Metasphere’s next-generation wastewater monitoring system and enable scalable delivery and platform to their customers.
PowerGrid
The state-owned power transmission company has been declared a successful bidder to set up two-interstate transmission system projects on a build, own, operate, and transfer (BOOT) basis in Rajasthan.