RIL hits fresh 52-week high as Jefferies projects 14% upside on earnings momentum
Reliance Industries hit a fresh 52-week high after Jefferies reaffirmed its ‘Buy’ rating and projected a 14% upside. The brokerage cited strong earnings momentum across retail, O2C, telecom, and FMCG, along with favourable valuations. Upcoming triggers include robust festive demand, JioMart expansion, elevated refining margins, and Jio’s expected 2026 IPO.
4 years of fraud: Mumbai elderly couple lost Rs 35 crore in trading scam
A 72-year-old Mumbai resident, Bharat Harakchand Shah, has filed a police complaint after discovering that his inherited equity portfolio—long believed to be growing—had allegedly been mismanaged, leading to a sudden demand for ₹35 crore. The case is now under investigation by Mumbai Police’s Economic Offences Wing, with an FIR filed against Globe Capital.
Market Wrap: Sensex and Nifty end flat as profit-taking caps D-St rally near record highs
Indian stock markets closed with a slight dip on Friday. The Sensex and Nifty saw minor fluctuations throughout the day. Investors took profits near record highs. They considered potential interest rate cuts in the US and India. Domestic growth figures also influenced trading. Both major indices ended marginally lower after reaching new peaks previously.
GMDC shares snap 3-day rally, fall 2% as traders opt to book profits
GMDC shares fell after a three-day surge as traders booked profits, following strong gains driven by a government incentive to boost rare earth magnet production. The stock faced short-term technical resistance, though long-term trends remain positive. Profit taking set in after optimism around GMDC’s role in India’s strategic minerals push.
Patel Engineering shares fall 5% as investors book profits after two-day rally
Patel Engineering shares fell nearly 5% to Rs 35.58 on Friday after a sharp two-day rally. The stock had surged nearly 20% earlier in the week following the award of coal excavation and transportation contracts worth Rs 798.19 crore for the Jhiria West OCP in Chhattisgarh by SECL, with a nine-year execution period.
Vidya Wires IPO: Price band set at Rs 48–Rs 52, public issue opens on December 3
Vidya Wires is launching its Rs 300-crore IPO on December 3 with a price band of Rs 48–52. The issue includes fresh shares and an OFS, valuing the firm at a discount to industry peers. With strong FY25 revenues and solid profitability, the IPO offers attractive sector-linked growth potential.
M&M shares rise 2% as Nomura gives thumbs up to new 7-seater launch. Check target price
Mahindra & Mahindra shares surged following Nomura’s Buy rating and a Rs 4,335 price target, driven by the launch of the feature-rich XEV 9S at a disruptive price. The brokerage anticipates strong SUV growth and sees the new vehicle as a catalyst for Mahindra’s electric era, with bookings opening in January 2026.
Paytm shares rise 3% as Goldman Sachs doubles price target, upgrades to Buy
Why Thyrocare Technologies’ shares are down 67% today, but why investors shouldn’t worry?
Thyrocare Technologies’ shares slumped 66.7% to ₹492 on Friday as they began trading ex-bonus for the recently announced 2:1 bonus issue. The sharp drop is a normal adjustment due to the bonus issue and doesn’t indicate any deterioration in fundamentals.
Vedanta back in debt market, seeks Rs 2k cr via metals arm
Vedanta’s ESL Steel is set to raise ₹2,000 crore via non-convertible debentures. This fundraising follows a previous ₹5,000 crore raise earlier this year. Vedanta’s leverage remains a focus due to dividend outflows to its parent, Vedanta Resources. The company’s net leverage has seen a reduction. Vedanta Resources has also reduced its debt significantly.