Oil India’s Profit Surge, Hindustan Zinc’s Stake Sale, Waaree Energies’ Rally, and IPO Updates

Market Snapshot

• The Indian equity market gained for the second session on November 6, boosted by Donald Trump’s US presidential victory, with the Nifty crossing 24,500.
• Key sectors such as IT, realty, oil & gas, and power led the gains, with all sectoral indices closing in the green.
• The BSE Midcap index rose over 2 percent, while the Smallcap index gained nearly 2 percent.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Oil India shares surged 6 percent after reporting a 464 percent rise in net profit to Rs 2,069 crore, despite an 8 percent drop in revenue to Rs 8,136 crore.
• Hindustan Zinc shares fell 8 percent after the government announced a 2.5 percent stake sale via an OFS at a 10 percent discount, with a floor price of Rs 505.
• Waaree Energies shares rose nearly 5 percent, hitting a new high. Since their October 28 debut at Rs 2,500 (a 66.33 percent premium over the Rs 1,503 issue price), the stock has surged 49.72 percent over 7 sessions.
• ACME Solar Holdings IPO subscribed 28% so far on first day
• Swiggy IPO subscribed 12% so far on first day of bidding process
• Reliance Jio IPO set for 2025
• Niva Bupa Healthcare to launch Rs 2,200 crore IPO on November 7

Trade Ideas Update

• Our trade ideas success rate has 64% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
• Profits booked on seven stocks today, Encourage your investors to explore the Fisdom Smart Trade segment to capitalize on similar opportunities.

Please visit www.fisdom.com for a standard disclaimer