Friday, November 22
Waaree Energies Ltd has received significant interest in its IPO, with 8.78 times subscriptions by the second day. Non-institutional investors showed strong demand, and anchor investors secured Rs 1,277 crore. The IPO will help fund a new 6 GW solar manufacturing facility in Odisha. The company's market valuation is set to exceed Rs 4,300 crore post-issue.
The Indian Army's plan to acquire Stryker armoured vehicles from Canada faces uncertainty due to strained India-Canada relations. Despite earlier discussions about co-production with the US and General Dynamics Land Systems Canada, no significant progress has been made.
Gold prices in India hit a record high of Rs 76,899 per 10 grams on the MCX due to dovish central banks, lower bond yields, US election uncertainty, and Middle Eastern conflict. US gold futures also surged amid safe-haven demand and geopolitical tensions.
Wipro reported a 21.2 per cent rise in consolidated net profit to Rs 3,208.8 crore for Q2 FY25, while revenue slightly declined by 0.95 per cent to Rs 22,301.6 crore. CEO Srini Pallia highlighted strong execution and growth in three out of four markets. The board approved a 1:1 bonus share issue.
Stock market today: The BSE Sensex closed at 81,006.61 points and the broader Nifty50 settled at 24,749.85 points.
The Central Government has approved a significant increase in the Minimum Support Prices for six Rabi crops for the 2025-26 marketing season to ensure farmers' profitability. Wheat's MSP is set at Rs 2,425 per quintal, with rapeseed & mustard seeing the highest increment of Rs 300 per quintal. The announcement was made by union minister Ashwini Vaishnaw.
LVMH, the world's largest luxury conglomerate, reported a 3% decline in third-quarter sales, falling short of estimates due to weakened demand in China and Japan. The fashion and leather goods division, including Louis Vuitton and Dior, saw a 5% sales drop. This outcome exacerbates existing market volatility and investor concerns, highlighting a broader slowdown in the luxury sector.
Stock market today: The BSE Sensex fell for the second consecutive day, settling at 81,501.36, a decrease of 318.76 points or 0.39 per cent. During the day, it slumped to 81,358.26, a drop of 461.86 points or 0.56 per cent.
Stock market today: Indian equity markets closed lower on Tuesday as Sensex fell 152.93 points and Nifty declined by 70.60 points. Major losses came from Bajaj Finance, Reliance Industries, and Tata Steel.
