Stocks in Asia held in a narrow range on Thursday while bond yields slipped as traders took to the sidelines ahead of the US Thanksgiving holiday.Shares in Japan swung between gains and losses while those in Australia climbed alongside Hong Kong equity futures.US stock indices were mixed on Wednesday as investors assessed Personal Consumption Expenditure (PCE) inflation report.Here’s a table showing how US stocks performed on Wednesday:
Source: EquitymasterAt present, the BSE Sensex is trading 45 points lower and NSE Nifty is trading 4 points lower.HUL, ITC and Coal India among the top gainers today.Infosys, HCL Tech and TCS other hand are among the top losers today.The BSE Midcap index is trading 0.4% higher and the BSE Smallcap index is trading 0.9% higher.Sectoral indices are trading mixed today with stocks in power sector and realty sector witnessing most buying.Meanwhile stocks in media sector, auto sector and IT sector witnessing selling pressure.The rupee is trading at Rs 84.46 against the US dollar.In commodity markets, gold prices are trading 0.3% higher at Rs 76,279 per 10 grams today.
PCBL Chemical Bags LandCarbon black maker, Philips Carbon Black on 27 November said the Government of Andhra Pradesh has approved the allocation of 116.62 acres of land to the company at Naidupeta MPSEZ for establishing a rubber black and value-added chemicals manufacturing unit.The land is priced at Rs 1,948 per square metre, subject to the de-notification of the Naidupeta SEZ and adherence to specified conditions. PCBL plans to invest Rs 37.2 bn in the project, which is expected to generate direct employment for 200 individuals.The proposal received the green light during the State Investment Promotion Board (SIPB) meeting on 19 November 2024, following recommendations from the State Investment Promotion Committee (SIPC).The allocation is contingent on PCBL meeting outlined investment and employment commitments and adhering to project timelines as stipulated by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC).
HDFC Bank Unveils New Rural Savings Account
HDFC Bank, India’s largest private sector lender, launched the Pragati Savings Account on Wednesday, designed to address the banking needs of rural and semi-urban residents across India.HDFC Bank aims to create a comprehensive banking ecosystem for India’s agricultural sector, targeting farmers, self-employed individuals, rural residents, self-help groups, and cooperatives.The bank’s network of over 4,600 branches in semi-urban and rural locations will serve as touchpoints to leverage this product, covering nearly two-thirds of India’s population.The initiative includes a partnership with BigHaat, empowering over 17 million farmers by offering discounts on farming tools, seeds, and fertilisers through its online platform, along with competitive pricing and better-quality products.HDFC Bank also offers a range of curated propositions under this programme, including discounted asset financing for two-wheeler loans, tractor loans, gold loans, Kisan Gold Card (KGC) products, and cattle insurance in collaboration with HDFC Ergo General Insurance Company.
KEC International Shares in Focus on Order WinKEC International’s share price will remain in focus on 28 November after the company has secured turnkey orders of Rs 1,704 crore in its Transmission & Distribution (T&D) business for the design, supply and installation of 765 kV Transmission Lines and GIS Substations from Power Grid Corporation of India Limited (PGCIL).On 25 November, the company secured new orders of Rs 11.1 bn across its various businesses. Its Transmission & Distribution (T&D) business secured orders for T&D projects in the Middle East and the Americas including a 400 kV Transmission line in Oman and a supply of towers, hardware and poles in the Americas.The Civil business has secured orders in the industrial segment in India and the Railways business secured an order for Metro Overhead Electrification (OHE) works in the technologically enabled segment in India.
NBCC Signs MoU With HUDCOState-owned construction firm, NBCC, on Wednesday said it has entered into a memorandum of understanding (MoU) with Housing & Urban Development Corporation Ltd (HUDCO) for the development of a 10-acre institutional plot in Noida Sector 62.NBCC will act as the project management consultant. The project has an estimated cost of Rs 6 bn.NBCC reported its September quarter results on 13 November, with the numbers higher on some parameters on a year-on-year (YoY) basis. But its margins saw a contraction compared to last year.NBCC’s net profit for the quarter increased 52.8% YoY to Rs 1.2 bn from Rs 819 m. Revenue for the period increased to Rs 24.6 bn from Rs 20.9 m during the year-ago period, up 19.4%.The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs 1 bn, which was 4.6% higher than the same quarter last year.More By This Author:Sensex Today Ends 230 Points Higher; Nifty Above 24,250Sensex Today Trades Flat; Nifty Below 24,200Sensex Today Ends 105 Points Lower; Nifty Below 24,200
