sensex today: Stock Market Live Updates: Sensex, Nifty trade lower

On Nov 17, 2021

Pressured by inflationary woes and weak global cues, domestic markets traded on a tepid note. Auto stocks remained in vogue as reports suggested ease in chip and semi-conductor shortages. That said, primary market action remained strong as Go Fashion IPO kicked off.

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Go Fashion IPO sails through within 2 hours

NEWS ALERT: Alembic Pharmaceuticals JV Aleor Dermaceuticals receives USFDA final approval for Mupirocin Cream USP

Price as on 17 Nov, 2021 11:55 AM, Click on company names for their live prices.

Nykaa shares may rally another 25%: UBS

In the first initiation of coverage on FSN Ecommerce Ventures, which owns the popular Nykaa brand, brokerage house UBS said the stock could surge over 25 per cent from current levels. The broker sees a long runway of profitable growth for the company. It forecasts a nearly 2.5 times jump in Ebitda margins in the next five years, thanks to growth in private labels, scaling up of the fashion segment, influencer-led growth and operating leverage benefits.

NEWS ALERT: Intellect Design Arena wins order from Fifth Third Bank

Price as on 17 Nov, 2021 11:33 AM, Click on company names for their live prices.

Top Sensex contributors at this hour

NEWS ALERT: IndusInd Bank introduces one-stop mobile app for merchants

Price as on 17 Nov, 2021 11:05 AM, Click on company names for their live prices.

Tourism Finance Corp jumps 4% as firm to consider issuance on NCDs

Shares of Tourism Finance Corporation of India gained as much as 4 per cent in early trade Wednesday as the company said it will consider the issuance of non-convertible debentures to be issued on a private placement basis on November 22. The scrip rose to a high of Rs 69.15 as against the previous close of Rs 66.75 on the BSE. In the July-September quarter, Tourism Finance Corporation had posted a 1.32 per cent on-year decline in net profit to Rs 21.65 crore versus Rs 21.94 crore a year ago. The tourism company’s sales had shown a decline of 5.53 per cent to Rs 61.20 crore in the previous quarter.

Rupee slips 14 paise to 74.51 against US dollar in early trade

Go Fashion IPO: What are brokerages saying?

Brokerages have mostly said they have a positive view on Go Fashion in the long run, despite the company having reported a negative bottom line in 2020-21. However, the Covid-19 pandemic has had a significant impact on the company’s business and operations. Marwadi Shares and Finance says considering a TTM as of June 2021 sales of Rs 271.4 crore on a post-issue basis, the company is going to list at a market cap/sales of 13.73 with a market cap of Rs 3,726.6 crore.

MARKET CHECK: Sensex wipes off opening losses

GRASIM: Co to invest 860 crore chemical plant in Andhra Pradesh (Source: Informist)

Price as on 17 Nov, 2021 10:31 AM, Click on company names for their live prices.

IPO UPDATE: Go Fashion subscribed nearly 30% in 10 mins; retail portion fully booked

PSU Bank index best sectoral gainer; most constituents in the green

‘Sharp…