Market Bizzz

Adani Ports and Special Economic Zone (APSEZ) bonds, which fell from 96 cents to 92 cents Thursday, were trading at 90-91 cents Friday evening. Adani Green Energy’s 6.7% March-issued bonds, which traded at 84/85 cents Thursday, held steady at the same levels Friday evening.

So far in November, foreign investors sold shares worth ₹25,254.6 crore. This comes after foreign outflows hit a record high of ₹1.04 lakh crore in October following a rebound in Chinese markets and a disappointing corporate earnings season

Adani Group stocks plummeted after Kenyan President William Ruto canceled deals involving the conglomerate, citing new information from investigative agencies. This follows U.S. prosecutors indicting Gautam Adani and others for an alleged $265 million bribery scheme, accusations Adani Group denies.

Afcons Infrastructure has secured a significant contract worth Rs 1,274 crore from the Uttarakhand government for the construction of a dam. Despite a muted market debut earlier this month, the company’s shares saw a 2% rise following the announcement. Major investors like Goldman Sachs and Nomura have recently acquired stakes in the company.

Large private sector banks in India are trading like utility stocks, presenting a good investment opportunity. The rural economy is improving, and consumption is expected to recover. Investors can find opportunities in discretionary consumption, industrials, and IT services. Deep tech is a promising sector in India, with potential for new listings and growth.

Motilal Oswal Financial Services has given Swiggy a neutral rating with a target price of Rs 475. They believe that Swiggy’s food delivery business is stable and will continue to grow. However, they are concerned about the gap between Instamart and Blinkit in the quick commerce space. On mid-mile and last mile variable costs, Instamart is, however, strikingly, better than Blinkit.

Shares of Anil Agarwal-led Vedanta are expected to remain in focus on Thursday following news that the company’s subsidiary, Vedanta Aluminium, has partnered with GAIL Gas to secure natural gas supplies for its Jharsuguda smelter.

CIEL HR Services has filed for an IPO to raise funds through a fresh issue and an offer for sale. The company plans to use the proceeds for acquisitions, investments, and working capital. CIEL HR, promoted by Pandiarajan Karuppasamy, offers a range of HR services and technology platforms to various sectors.

Billionaire Gautam Adani’s conglomerate launched a dollar bond sale on Wednesday, following a delay last month due to investor concerns over pricing. Adani Green Energy Ltd., part of the group’s clean-energy business, is marketing a 20-year $600 million note with a yield of around 7.75%, higher than the initial 7% guidance for the postponed October deal.

Major Chinese fund companies slashed fees for equity exchange-traded funds (ETFs), aiming to attract investors and boost the burgeoning $400 billion sector. This move follows a pledge by China’s top securities regulator to promote index investment and fee reform.