✅Indian benchmark indices closed on a bullish note today as the Nifty ended near 24,000. 📢 At 3:30 PM, the Sensex improved by 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25. 📊All the sectoral indices closed on a positive note with IT (⬆️3.29%), Realty (⬆️3.17%), and PSU Bank (⬆️3.00%) experiencing robust buying.

Reported Standalone quarterly numbers for Sumuka Agro Industries are: Net Sales at Rs 14.89 crore in September 2024 up 29.14% from Rs. 11.53 crore in September 2023. Quarterly Net Profit at Rs. 0.64 crore in September 2024 down 37.9% from Rs. 1.04 crore in September 2023. EBITDA stands at Rs. 0.67 crore in September 2024 down 37.38% from Rs. 1.07 crore in September 2023.

Reported Standalone quarterly numbers for Chadha Paper are: Net Sales at Rs 82.37 crore in September 2024 down 22.51% from Rs. 106.29 crore in September 2023. Quarterly Net Profit at Rs. 1.28 crore in September 2024 up 180.21% from Rs. 1.59 crore in September 2023. EBITDA stands at Rs. 6.84 crore in September 2024 up 75.84% from Rs. 3.89 crore in September 2023.

Reported Consolidated quarterly numbers for Joindre Capital are: Net Sales at Rs 14.60 crore in September 2024 up 42.28% from Rs. 10.26 crore in September 2023. Quarterly Net Profit at Rs. 3.26 crore in September 2024 up 78.78% from Rs. 1.82 crore in September 2023. EBITDA stands at Rs. 4.82 crore in September 2024 up 81.89% from Rs. 2.65 crore in September 2023.

Early Friday trading saw Bitcoin, the biggest cryptocurrency in the world by market value, soar to a new all-time high of $99,314.95, approaching the historic $100,000 milestone. The rally comes after Republican Donald Trump won the election, raising hopes that his government could create a regulatory climate that is favourable to cryptocurrency.

Luxury carmaker BMW India on Friday said it will increase prices of its entire model range by up to 3 per cent from January next year. The new prices will be effective from January 1, 2025 onwards, the German automaker said in a statement. This is due to rising input costs and inflationary pressures, following a similar move by Mercedes-Benz last week.

HB Portfolio's consolidated quarterly numbers for September 2024 show a 13.92% decline in net sales to Rs 5.06 crore, an 84.06% drop in quarterly net profit to Rs 0.40 crore, and an 86.12% decrease in EBITDA to Rs 0.39 crore, compared to the same period in 2023. HB Portfolio shares have given 41.66% returns over the last 6 months and 77.14% over the last 12 months.

SEBI is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, according to people with knowledge of the matter. On Wednesday, US prosecutors charged Gautam Adani with helping drive a $250 mn bribery scheme to win solar energy contracts in India, and alleged that the conglomerate concealed the plan as it sought to raise money from US investors.

Vedanta has postponed its planned dollar bond issuance due to concerns over rising borrowing costs for Indian companies following the indictment of Adani Group Chairperson Gautam Adani by a U.S. court. Vedanta intended to secure funding through dollar-denominated bonds, but will now monitor the situation until volatility stabilizes.

Three senior dealmakers from Bank of America's India operation have left the company amid an internal investigation into allegations of wrongdoing involving stock offerings, including a $178 million share sale in Aditya Birla Sun Life Asset Management. The US lender is still reviewing possible replacements.

Marksans Pharma Ltd's shares rose 3.2% after receiving USFDA final approval for its Loratadine Tablets, a generic version of Claritin, for treating allergic rhinitis. Shares rallied up to 3.23% intraday, hitting ₹319 on the BSE, with the company recently reporting strong Q2FY25 financials, including a 37.7% YoY surge in gross profit.

Refinancing for Adani Group’s green energy business is the biggest concern in the near term after the indictment of the conglomerate’s founder Gautam Adani by US prosecutors, according to research firm CreditSights. The analysts pointed to short-term debt of about $2 billion, largely in the form of project loans, at Adani’s green energy unit.

Emkay Global Financial's research report on Britannia Industries: Britannia Industries' near-term outlook has turned weak due to demand slowdown and inflationary pressures, prompting a 4-5% price hike to address inflation; earnings are cut by 9-13% ahead, and the stock is downgraded to "REDUCE" with a target price of Rs5,200 from Rs6,750.

The Indian central bank, in a rare move, instructed some banks to cut long positions on the dollar-rupee pair on Friday, seeking to reduce speculative positions with the currency at a record low, four bankers directly familiar with the development told Reuters. The Reserve Bank of India's financial market regulations department informally communicated the instructions to banks, the bankers said.

Indian banks' loan exposure to the embattled Adani Group seems "manageable" and any credit risk in the aftermath of its billionaire founder-chairman's indictment in the US looks "contained", JPMorgan said on November 22. They added that Indian banks' exposure to Adani Green, which is at the centre of the allegations, is "materially lower" at just 6 bps of banking system credit as of September.