After opening the day on a positive note, Indian share markets displayed volatility in trades amid subdued cues from global peers but ended the day higher.

Benchmark indices ended higher helped by buying in index major Reliance Industries. Gains were however restricted amid unabated foreign fund outflows from the equity markets and mixed trends in global markets.

At the closing bell, the BSE Sensex stood higher by 93 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 29 points (up 0.1%).

BPCL and NTPC were among the top gainers today.

Hindalco and Adani Ports were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,894, up by 65 points, at the time of writing.

Broader markets ended mixed. The BSE Midcap index ended 0.3% higher and the BSE SmallCap index ended 0.6% lower.

Sectoral indices ended mixed with stocks in the FMCG sector and auto sector witnessing buying. Meanwhile, the stocks in the realty sector and metal sector witnessed selling pressure.

Shares of Bajaj Auto and Bosch hit their 52-week highs today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended mixed. The Hang Seng ended flat while the Nikkei ended 0.3% higher. Meanwhile Shanghai Composite closed 0.8% lower.

The rupee is trading at 83.31 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 61,275 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading flat at Rs 73,330 per kg.
 

Aurobindo Pharma Receives USFDA Approval

In news from the pharma sector, Global pharmaceutical company Evive Biotech and Acrotech Biopharma received the US Food and Drug Administration (FDA)'s approval for Ryzeneuta.

Evive Biotech is a subsidiary of a New Jersey-based and wholly-owned subsidiary of Aurobindo Pharma USA.

The Ryzeneuta is used to decrease the incidence of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with a clinically significant incidence of febrile neutropenia.

It helps to enhance the immune function of cancer patients and prevent the side effects of neutropenia caused by chemotherapy.

From August 2022 to August 2023, the company's shares have experienced a remarkable increase of more than 50%.

Aurobindo Pharma has seen a consistent rise in promoter pledging.
 

Why GMR Power Share Price Is Rising

Moving on to news from the engineering sector, shares of GMR Power and Urban Infrastructure rallied 5% to Rs 42 per share on 22 November after the company acquired an additional 29.2% stake in subsidiary - GMR Energy.

The current acquisition consolidates the existing stake of GMR Power in GMR Energy from 57.7%, held by itself and its subsidiaries, to about 86.9%.

GMR Energy was incorporated on 10 October 1996 and is engaged in the business of development, operation, and maintenance of power projects, power generation, transmission, distribution, and trading of electricity through its subsidiaries.

Other than the direct and indirect shareholding of these entities in GMR Energy, there is no other interest the promoters or promoter group have in GMR Energy or in the transaction.

After a long time, the smart metering industry is witnessing renewed interest from foreign investors. And most stocks have already shot up in recent months. GMR Power is one among them.
 

Why IDBI Bank Share Price Is Falling.

Moving on to news from the banking sector, shares of IDBI Bank fell more than 3% on 22 November morning after the government canceled the bid invitation process to appoint an asset valuer for the lender's divestment.

The Centre will call for a fresh request for proposal (RFP) for appointing the asset valuer. This cancellation comes after the government extended the RFP four times.

The government, in conjunction with the Life Insurance Corporation (LIC), has been seeking to divest its holdings in IDBI Bank. The government holds a 45% stake in the lender and LIC 49.2%. The two have jointly decided to sell a 60.7% stake in the bank.

This January, the government received multiple preliminary bids for the strategic sale.

In this strategic divestment initiative, the asset valuer would be responsible for conducting a thorough evaluation of multiple facets of IDBI Bank.

This entails determining the fair value of the bank's investments, loans, and advances, with the aim of presenting a comprehensive overview of its financial portfolio.

The valuation process would include scrutiny of IDBI Bank's deposits, borrowings, and other liabilities to attain a comprehensive insight into the financial position of the institution.

Through the appointment of an asset valuer to evaluate the bank's financial well-being, the government seeks to promote transparency and fairness in the valuation proceedings.

IDBI Bank stands among the top banking companies in India that have low NPAs and a higher Return on Equity (ROE)...

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