Indian stock markets are likely to open with limited movement on Thursday, November 12, following gains in the previous two trading sessions. Investors will track GIFT Nifty, retail inflation data, global market trends and updates from major companies, including Bajaj Finance and Tata Power.
The Sensex surged 772.75 points to close at 81,879.40 on November 11, while the Nifty gained 210.40 points to settle at 25,255.05. Buying by foreign investors and a moderation in crude oil prices supported the market.
At around 8 am on Thursday, GIFT Nifty was trading near 25,270, indicating the possibility of a modest opening rather than a sharp rally.
Foreign portfolio investors (FPIs) purchased shares worth approximately Rs 12,563 crore on Wednesday. Their total purchases in November have reached $6.43 billion so far.
US markets also ended higher on Wednesday. The Nasdaq advanced 1.6%, while the S&P 500 gained approximately 1.3%. The Dow Jones Industrial Average rose by around 255 points. However, Asian markets were showing mixed signals.
Tata Power is likely to remain in focus after reporting a 48.6% year-on-year increase in consolidated net profit to Rs 1,366.1 crore for the September quarter. Revenue increased 26.3% to Rs 19,635.9 crore.
The company's board has approved an investment of Rs 11,871 crore in a 1,800 MW pumped storage project in Maharashtra. Tata Power has also appointed Sanjay Banga as CEO Designate. He will assume the responsibilities of CEO and Managing Director from May 1, 2027.
Meanwhile, Bajaj Finance launched its Qualified Institutional Placement (QIP) on November 11, setting the floor price at Rs 992.25 per share. The company can offer a discount of up to 5% in accordance with applicable regulations. Investors will monitor the response to the fundraising exercise.
Government-owned Mishra Dhatu Nigam reported a 114.8% increase in second-quarter profit to Rs 27.8 crore. Revenue rose 41.1% to Rs 295.9 crore.
In contrast, Triveni Turbine's profit declined 41.6% to Rs 53.3 crore. DCX Systems reduced its loss to Rs 25 lakh, although its revenue fell 27.3% to Rs 140.2 crore.
In the pharmaceutical sector, Aurobindo Pharma will remain in focus after the US Food and Drug Administration (US FDA) placed the inspection of its subsidiary Lannett's Seymour facility under the Official Action Indicated (OAI) classification. Four observations were reported during the inspection.
ITC has increased the price of its Gold Flake RSFT cigarette pack from Rs 125 to Rs 135.
Meanwhile, Noel Tata has been appointed Chairman Emeritus of Tata Investment Corporation, effective November 12.
Dixon Technologies has sold a 1.14% stake in Aditya Infotech for approximately Rs 581.65 crore. Motilal Oswal and Kotak Mahindra Mutual Fund were the buyers in the transaction.
Several companies, including HAL, IRCTC, Ola Electric, Vodafone Idea, Oil India, NMDC, Manappuram Finance, Page Industries, Alkem Laboratories and Rail Vikas Nigam, are scheduled to announce their quarterly results on Thursday.
Shares of Hindustan Unilever, ONGC, IRB Infrastructure and Bayer CropScience will trade ex-dividend.
Kaynes Technology will remain under the Futures and Options (F&O) trading ban.
Investors will also track the release of India's October retail inflation data on Thursday. The figures could influence market expectations regarding future interest rate decisions.
