Pre-Market Analysis 
12-Nov-2024

Support Level : 23900
Resistance Level : 24350

Bank Nifty ended the day in green and outperformed the broader market. Our view is neutral for today. It has support at 51500.

Result Corner

1. Britannia Industries Ltd. Q2FY25 consolidated revenues rise by 5% YoY to ₹4,668 cr and net profits fall 10% YoY to ₹531 cr 2. Hindalco Ltd. Q2FY25 consolidated revenues rise by 7% YoY to ₹58,203 cr and net profits rise by 18.6% YoY to ₹3,909 cr

Stock In News

– CELLO  Company started production at glassware manufacturing unit in Rajasthan.– RVNL  Company emerges as the Lowest Bidder (L1) from South Central Railway for project worth Rs 294 cr.– AUSOMENT  Company receives letter of intent from Gujarat Urja Vikas Nigam; order for supply of solar photovoltaic power project, project capacity of 50 MW– BALMLAWRIE  Company forays into rail logistics, Company signs agreement with Gatx India for rail logistics.– LTTS  Company to acquire Intelliswift for $110 Million, boosting AI and software capabilities– WELCORP  Company sold 5% equity stake in East Pipes Integrated Company (EPIC) in Saudi Arabia for SAR 218.9 million.– KFINTECH  CAMS and Kfintech announce joint venture for MF central, new entity to handle technology, sales, and marketing for MF central.– VEDL   Vedanta group plans $500 million investment in Avanstrate inc. to drive innovation in high-tech display glass products– IOC  Gujarat refinery ops normal after benzene tank fire.– APLLTD  Company gets USFDA nod for generic hypertension treatment capsules.

Quick Takeaways

-Asian equities opened with mixed note as Chinese and Japanese indices are trading with marginal gains while weakness persisted in Taiwanese and Korean equity indices. -China’s BYD closing in on Ford deliveries after besting Tesla on revenue-Indian pharmaceutical market registers over 6% growth in October 2024F&O Stocks in Ban : Aarti Industries Ltd., Aditya Birla Fashion and Retail Ltd., Granules India Ltd., Hindustan Copper Ltd., Manappuram Finance Ltd.