The key equity indices traded with decent gains in mid-morning trade. The Nifty traded above the 24,500 level. Financial services shares extended gains for the fourth consecutive trading session. At 11:27 IST, the barometer index, the S&P BSE Sensex rose 346.98 points or 0.43% to 81,190.01. The Nifty 50 index added 84.70 points or 0.35% to 24,541.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 0.67% and the S&P BSE Small-Cap index rose 0.59%. The market breadth was strong. On the BSE, 2,403 shares rose and 1,351 shares fell. A total of 157 shares were unchanged. The three-day meeting of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) begins today, 4 December 2024 and will conclude on 6 December 2024. The outcome of the meeting will be announced by RBI Governor Shaktikanta Das on 6 December 2024. Economy: India posted a strong 58.4 services PMI in November 2024, down only a fraction from the prior month's 58.5. During November, services sector employment notably grew at the fastest pace ever recorded since this survey began in 2005. The hiring surge reflected the sector's improving business confidence, growing new orders, and vigorous international demand. At the same time, high food and labour costs drove up input and output prices to their fastest rates in 15 months and nearly 12 years respectively. Finally, service providers were more confident regarding the year-ahead outlook for business activity. Confidence reached its highest level since May, boosted by predictions of continued demand strength and expectations that marketing efforts will drive new business. Meanwhile, the HSBC India Composite Output Index posted 58.6 in November, down only marginally from 59.1 in October and therefore indicating a sharp rate of expansion. The goods producing sector recorded the larger slowdown in growth but still posted a faster increase than that see in the service economy. The same trend was evident for new orders. Service providers signaled sharper cost pressures than manufacturers and subsequently recorded the steeper increase in selling prices. Buzzing Index: The Nifty Financial Services index gained 1% to 24,540.70. The index rallied 2.59% in four consecutive trading sessions. HDFC Bank (up 2.03%), HDFC Asset Management Company (up 1.82%), ICICI Lombard General Insurance Company (up 1.82%), HDFC Life Insurance Company (up 1.79%), SBI Life Insurance Company (up 1.29%), Power Finance Corporation (up 1.12%), REC (up 1.01%), Bajaj Finserv (up 0.9%), Cholamandalam Investment & Finance Company (up 0.87%) and Kotak Mahindra Bank (up 0.83%) advanced. On the other hand, Multi Commodity Exchange of India (down 0.51%), ICICI Prudential Life Insurance Company (down 0.30%) and Muthoot Finance (down 0.23%) edged lower. Stocks in Spotlight: Rail Vikas Nigam added 1.15% after the company announced that it has received a letter of acceptance (LoA) worth Rs 186.76 crore from East Central Railway. Quess Corp shed 0.88%. The company's board approved to acquire food catering and facility management services business of Archer Integrated Services and Astrin Traders and Supplies as a going concern on a slump sale basis for a lump sum cash consideration of Rs 11 crore. Global Markets: The Dow Jones index futures were up 142 points, signaling a positive opening for U.S. stocks today. Most of the Asian stocks traded higher on Wednesday, except for South Korea, following a surprising decision by President Yoon Suk Yeol to impose martial law. The decision was reversed just hours later, but it still unsettled global markets. The benchmark Kospi Index dropped as much as 2% in early Wednesday trading, reflecting the sharp decline in South Korea-related assets during overnight sessions. Yoon Suk Yeol's attempt to impose martial law on Wednesday was short-lived and met with significant resistance. Lawmakers defied security forces and voted against the declaration, while thousands of protesters took to the streets, expressing opposition to the unprecedented move. In the US, indices reached record highs on Tuesday, driven by gains in major technology stocks, though the pace of the rally appeared to be slowing due to growing uncertainty about the economic outlook. The S&P 500 edged up 0.1% to close at 6,049.88, while the NASDAQ Composite rose 0.4% to finish at 19,478.89. In contrast, the Dow Jones Industrial Average dipped 0.2% to 44,705.53. Technology stocks continued to benefit from optimism surrounding artificial intelligence, a sector expected to maintain robust momentum in the months ahead. Additionally, the prospect of lower interest rates provided further support for the tech-heavy market. Meanwhile, investors are eyeing this week's critical jobs data and Federal Reserve Chair Jerome Powell's upcoming remarks for potential signals on whether the Fed will consider cutting rates in December. Powered by Capital Market - Live

The project involves the design, supply, erection, testing, and commissioning of traction substations with associated switching posts for the upgradation work of the electric traction system from 1X25 to 2X25 KV AT feeding system in the Gomoh-Pratu section of the Dhanbad Division of East Central Railway. The total project cost is estimated at Rs 186.76 crore and it will be executed within 540 days. Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc. Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

Rail Vikas Nigam has received Letter of Acceptance from East Central Railway for Design, Supply, Erection, Testing & Commissioning of Traction Sub Stations with associated Switching Posts for upgradation work of electric traction system from 1X25 to 2 X 25 KV AT feeding system in Gomoh - Patratu Section of Dhanbad Division of East Central Railway. The value of the project is Rs 186.76 crore. Powered by Capital Market - Live

The domestic equity benchmarks reversed all early losses and traded with minor gains in morning trade. The Nifty traded above the 24,150 mark. Private bank shares declined after advancing in the past trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex rose 31.29 points or 0.04% to 79,834.08. The Nifty 50 index lost 31.95 points or 0.13% to 24,163.05. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.37% and the S&P BSE Small-Cap index added 0.49%. The market breadth was positive. On the BSE, 2,279 shares rose and 1,428 shares fell. A total of 207 shares were unchanged. Buzzing Index: The Nifty Private Bank index slipped 0.40% to 25,225.80. The index rose 0.37% in the past trading session. RBL Bank (down 2.06%), Federal Bank (down 1.56%), IndusInd Bank (down 1.38%), City Union Bank (down 1.17%), HDFC Bank (down 0.88%), Bandhan Bank (down 0.59%), Axis Bank (down 0.32%) and Kotak Mahindra Bank (down 0.26%) declined. Stocks in Spotlight: Rail Vikas Nigam (RVNL) added 1.56% after the company announced that it has emerged as the lowest bidder for a distribution infrastructure development project worth Rs 642.56 crore from Punjab State Power Corporation (PSPCL). KEC International rose 1.07% after the company announced that it has secured multiple orders worth Rs 1,040 crore in its Transmission and Distribution (T&D) business in international markets. Cochin Shipyard was locked in upper circuit of 5% after the company announced that it has signed a contract worth Rs 1,000 crore with the Ministry of Defence (MoD), Government of India.Powered by Capital Market - Live

The project involves the development of distribution infrastructure for Package-3 in the central zone for execution of HT/LT infrastructure loss reduction works under the reforms-based and results-linked revamped distribution sector scheme (RDSS) in Punjab. The total project cost is estimated at Rs 642.56 crore and it will be executed within 24 months. Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc. Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24.   Powered by Capital Market - Live

The project involves the development of distribution infrastructure for Package-3 in the central zone for execution of HT/LT infrastructure loss reduction works under the reforms-based and results-linked revamped distribution sector scheme (RDSS) in Punjab. The total project cost is estimated at Rs 642.56 crore and it will be executed within 24 months. Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc. Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24. Shares of Rail Vikas Nigam (RVNL) slipped 1.71% to settle at Rs 435.80 on Friday, 29 November 2024. Powered by Capital Market - Live

Rail Vikas Nigam emerges as the Lowest Bidder (L1) from PSPCL for 'Development of distribution Infrastructure work for Package-3 Central Zone for execution of HT/LT Infrastructure loss reduction works under reforms-based and results-linked, revamped distribution sector scheme (RDSS) in the state of Punjab.' The project is valued at Rs 642.56 crore. Powered by Capital Market - Live

The order includes doubling of track between Parbhani and Parli stations (excluding Gangakhed yard) including electrification & signaling works in connection with the Parbhaoi-Parli doubling project of South Central Railway in Maharashtra. The said project cost is Rs 625.08 crore and is to be executed in 30 months. Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc. Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

The order includes earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work, and other ancillary works between Kalipahari and Pradhankhuta in connection with the construction of a multi-track tracking railway BG line. In the RVNL-SCPL JV, RVNL holds a 74% stake and a remaining 26% stake is held by SCPL. The said project is worth Rs 837.67 crore and it will be completed in 36 months. Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc. Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

Rail Vikas Nigam Ltd rose 7.92% today to trade at Rs 453.7. The BSE India Infrastructure Index index is up 2.98% to quote at 621.37. The index is down 0.2 % over last one month. Among the other constituents of the index, Ircon International Ltd increased 6.03% and IRB Infrastructure Developers Ltd added 5.57% on the day. The BSE India Infrastructure Index index went up 56.03 % over last one year compared to the 21.71% surge in benchmark SENSEX. Rail Vikas Nigam Ltd has added 8.13% over last one month compared to 0.2% fall in BSE India Infrastructure Index index and 1.12% rise in the SENSEX. On the BSE, 1.75 lakh shares were traded in the counter so far compared with average daily volumes of 5.35 lakh shares in the past one month. The stock hit a record high of Rs 647 on 15 Jul 2024. The stock hit a 52-week low of Rs 162.1 on 30 Nov 2023.Powered by Capital Market - Live