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India's Third Giant Leap

This Leap Could Potentially Generate Gains
Far Bigger than Anything We Have Seen in Our Lifetimes

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Sensex Today Ends Above 63,200 Mark | Nifty Today Ends Above 18,800 | IT and Metal Stocks Shine
Thu, 1 Dec Closing

Sensex Today Ends Above 63,200 Mark | Nifty Today Ends Above 18,800 | IT and Metal Stocks Shine

After opening the day on the positive note, Indian share markets continued its momentum and ended the day with  a new record closing high.

Today's rally was led by IT and Media indices which gained more than 2% followed by Metal and Realty, each of which added more than a per cent.

At the closing bell, the BSE Sensex stood higher by 185 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 54 points (up 0.3%).

Tata Steel, Hindalco, and UltraTech Cement were among the top gainers today.

UPL, Eicher Motors, and ICICI Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,975, up by 60 points, at the time of writing.

Broader markets settled on a firm note. The BSE MidCap gained 1.1% while the BSE SmallCap index ended 0.6% higher.

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The sectoral indices ended on a mixed note with stocks in the metal sector, IT sector and realty sector witnessing heavy buying.

While the stocks in energy sector and power sector witnessed maximum selling pressure.

Shares of L&T and Cummins India hit their 52-week highs today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian share markets ended on positive note.

The Hang Seng rose 0.8% extending sharp gains from the previous session while the Shanghai Composite index rallied by 0.5%. The Nikkei edged higher by 0.9%.

US stock futures rose as investors awaited Powell's speech. Dow futures are trading down by 0.2% while Nasdaq futures are down by 0.2%.

The rupee is trading at 81.2 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.9% at Rs 53,4333 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 1.6% at Rs 63,461 per kg.

Speaking of stock markets, Brijesh Bhatia talks about energy stocks and why they should be on your radar, in his latest video for Fast Profits Daily.

Brijesh discusses why he's bullish on energy stocks and talks about specific stocks within the sector in the video below.

Tune in to the below video to know more:

In news from the engineering sector, Larsen & Toubro hit a 52-week high today.

L&T Closes US$ 107 m Sustainability linked loan.

Larsen & Toubro closed a USD 107 m sustainability-linked loans with Sumitomo Mitsui Banking Corporation.

Sustainability-linked loans seek to promote and support ecologically and socially sustainable economic activity and growth.

The facility includes interest rate reductions tied to the accomplishment of two of L&T's preset environmental goals: a decrease in the intensity of greenhouse gas emissions and a rise in the intensity of water use.

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Commenting on the successful closure of the SLL, Group CFO and Whole Time Director of L&T, R Shankar Raman, said,

  • L&T continues to focus on achieving Water Neutrality by 2035 and Carbon Neutrality by 2040. Our long-term strategic plan also clearly outlines the ESG roadmap towards this goal. This SLL transaction with SMBC is an important step in that journey and underlines our intent on the ESG front.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The company has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

Further in the news from the engineering sector, Gensol Engineering was in focus today.

Gensol Engineering Rs 2.3 bn Solar Project win

The Gensol engineering won the bid for the development of 30 MWac (and a minimum of 40 MWdc) floating solar projects by bidding Rs 2.3 bn.

This 30 MWac capacity is spread over three thermal power stations in Jharkhand (6 MWac at Koderma) and West Bengal.

The scope of work includes design, engineering, supply, construction, testing, and commissioning of these projects along with comprehensive operation and maintenance services for 10 years after successfully commissioning the plan.

Moving on to news from the power sector, Adani Green Energy was also in focus today.

Adani Green raises US$200 m to refinance debt

Adani Green Energy received over $200 m today to restructure existing debt through its subsidiary, Adani Solar Energy AP Six.

The money will be utilized to refinance Andhra Pradesh's 350 MW solar plant.

The facility consists of project loans totaling 27,954 m Japanese yen that amortise over 16 years, with an average loan term of more than 8 years and a door-to-door tenor of 10 years.

MUFG Bank and Sumitomo Mitsui Banking Corporation both contributed equally to the project lending facility. Latham & Watkins LLP and Cyril Amarchand Mangaldas served as the transaction's legal counsel.

The facility is connected to the Tokyo Overnight Average Rate (TONA), a Japanese benchmark rate indicator that returns almost zero and emphasizes the appeal of extending the use of alternative funding sources that offer relatively low interest rates.

The refinancing arrangement is consistent with AGEL's goal to construct the debt structure in compliance with underlying asset life for its operational assets and secure long-term financing.

It is currently among the best power stocks in India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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