Ola Electric Surges on Affordable EV Launch, Paytm Gains on UBS Upgrade, NBCC Rallies on ₹919 Crore Orders

Market Snapshot

• Indian markets closed lower on Thursday, November 28, following a brief pullback in the previous session.
• Selling pressure in IT stocks and heavyweight names like Reliance Industries and HDFC Bank weighed on the indices.
• While Adani Group stocks provided some support, it was insufficient to turn the markets positive.
• After trading range-bound for nearly three sessions, markets declined amid the absence of significant global cues, as the US stock market remained closed.
• Domestic Institutional Investors (DIIs) appeared cautious, adopting a wait-and-watch approach ahead of the Union Budget 2025.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Ola Electric shares rose 6% for the fifth consecutive session after the company launched its most affordable electric scooters, the S1 Z and Gig range, starting at ₹39,000, receiving positive responses from brokerages. 

• Paytm stock gained 2% as UBS raised its target price to ₹1,000, citing improved valuation prospects, with expectations of adjusted EBITDA breaking even by Q4FY25. 

• NBCC shares surged 5% following the announcement of ₹919 crore in new orders, including a ₹600 crore HUDCO project in Noida and a Government of Odisha contract to upgrade primary school hostels.

• Suraksha Diagnostic IPO opens tomorrow
• Kalpataru gets SEBI’s approval for Rs. 1590 crore IPO

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