Today’s Market News :
Indian equities expected to open with flat note while market expected to remain focused on domestic cues.
*Global Peers Update: * Asian stocks opened with the flat note while mixed trend has seen in opening trade. U.S. stock index futures are trading with marginal cuts as markets digested a mixed showing from Nvidia, which clocked strong earnings but presented mixed guidance.
Indian markets are expected to trade cautiously, with Nifty 50 range-bound between 23,350-23,815. Auto sector, led by Mahindra & Mahindra and Tata Motors, may see buying interest. IT stocks face volatility due to global cues, while Banking and Financials are under scrutiny.
* NTPC Green Energy’s IPO has garnered a 33% subscription, with retail investors showing strong interest by subscribing 1.33 times the allotted quota.
* Analysts are optimistic about NTPC Green’s growth potential in the renewable energy sector, recommending investors to subscribe to the issue due to its prudent business model and strong earnings growth.
* The IPO, which aims to raise Rs 10,000 crore, is open for subscription until November 22, with a price band set between Rs 102-108 per share.
* Godrej Properties has acquired a 53-acre land parcel in Joka, Kolkata, with a projected revenue potential of Rs 500 crore and a development potential of 1.3 million square feet.
* The acquisition aligns with the company’s strategy to enhance its presence in major Indian cities, aiming to create long-term value for residents in the developing micro-market of Joka.
* Zinka Logistics is set to debut on the stock market with a flat premium, indicating a cautious investor sentiment despite a decent IPO response with nearly 2 times subscription.
* The company’s BlackBuck app aims to revolutionize India’s trucking industry by providing comprehensive services for truck operators, including payments and load management.
