The Indian equity markets saw a significant rebound on November 19, 2024, with both the Sensex and Nifty snapping a seven-day losing streak and ending the day higher. However, the indices surrendered most of the intraday gains as market sentiment was hit by escalating geopolitical tensions following Ukraine's missile strike within Russian territory.

Despite this, several stocks saw significant movements, both up and down, with a few catching investor attention due to strategic announcements and deal updates.

Top Gainers

1. PG Electroplast

   • CMP: Rs 668
   • Shares surged by 7% after the company's subsidiary, PG Technoplast, signed an exclusive partnership agreement with Spiro Mobility to manufacture electric vehicles (EVs) in India. This partnership sparked optimism among investors about the company's future growth in the EV sector.

2. Shilpa Medicare

   • CMP: Rs 879
   • Shares rose by 2% following the announcement that Shilpa Pharma Lifesciences, a subsidiary of Shilpa Medicare, received two Certificates of Suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM). This regulatory milestone further strengthens the company’s position in the global pharmaceutical market.

3. Zee Entertainment Enterprises

   • CMP: Rs 122
   • Shares surged by 6% after Punit Goenka stepped down as Managing Director, though he continues as the company's Chief Executive Officer (CEO). The change in leadership raised investor curiosity, driving a spike in stock prices.

4. GMR Airports Infrastructure

   • CMP: Rs 80
   • Shares gained nearly 3% after the company reported handling over 1 crore passengers in October 2024, marking a 9.2% year-on-year (YoY) increase. The growth in both domestic and international traffic contributed to investor optimism.

5. PSP Projects

   • CMP: Rs 667
   • Shares surged by nearly 4% following reports that the Adani Group is in advanced discussions to acquire a majority stake in the Gujarat-based construction company. This acquisition news sparked investor interest, pushing the stock higher.

6. Akums Drugs & Pharmaceuticals

   • CMP: Rs 581
   • Shares were locked in a 5% upper circuit, snapping a 10-day losing streak after the company announced a strategic partnership with Caregen Co. Ltd., a South Korean nutraceuticals company. The exclusive sales agreement to sell Caregen’s products in India was seen as a positive development by investors.

7. Indian Hotels Company

   • CMP: Rs 752
   • Shares gained 2%, hitting a record high of Rs 760.95 after the company unveiled its 2030 strategy aimed at expanding its presence and reinforcing its position in the hospitality sector.

Top Losers

1. Waaree Energies

   • CMP: Rs 2,883
   • Shares plunged by over 7%, ending a four-day winning streak, after the company’s Q2 earnings fell short of market expectations. This disappointment led to a sell-off in the stock.

2. Life Insurance Companies

   • Stocks of SBI Life, HDFC Life, ICICI Prudential, and Max Financial saw declines between 1-3% following a statement from Finance Minister Nirmala Sitharaman advising banks to focus on core banking operations instead of selling insurance products. The news raised concerns about the regulatory impact on the life insurance sector.

3. Honasa Consumer

   • CMP: Rs 262
   • Shares lost nearly 12% after falling 20% in the previous session. Several brokerages flagged challenges to the company's growth trajectory after it posted a quarterly loss, which dampened investor sentiment and led to the steep drop in stock prices.

Conclusion

The market showed a mix of gains and losses as the day progressed. While several stocks, especially those tied to strategic partnerships and positive corporate news, surged, others faced pressure, particularly in the energy and insurance sectors. The geopolitical uncertainty and corporate earnings reports will continue to shape investor sentiment in the coming sessions.

The Upcoming IPOs in this week and coming weeks are Lomosaic India, C2C Advanced System, Enviro Infra, Rajesh Power Services, Rajputana Biodiesel, Rosmerta Digital, Avanse Financial and Nisus Finance.

The Current active IPO is NTPC Green Energy.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.