Share Market Highlights 5 December 2024: Sensex, Nifty surge 1% as IT stocks rally on positive US economic outlook

Citi on Indus Tower: Maintain Buy on Company, target price at Rs 485/Sh (Positive) 

CLSA on Persistent: Maintain Outperform on Company, riase target price at Rs 8462/Sh (Positive) 

CLSA on Juniper: Maintain Buy on Company, target price at Rs 430/Sh (Positive) 

Yes on IOCL: Maintain Buy on Company, target price at Rs 154/Sh (Positive) 

Yes on BPCL: Maintain Buy on Company, target price at Rs 370/Sh (Positive) 

Yes on HPCL: Maintain Buy on Company, target price at Rs 475/Sh (Positive) 

GS on Consumer Durables: In FY26, expect real-estate driven demand for electricals and durables to accelerate. Havells has most diversified portfolio (Positive) 

Nomura on RBI Meet: Maintain out-of-consensus call for 25 bps repo rate cut to 6.25% on December 6 (Positive) 

Bank of America on IT Sector: Outlines 7 key trends in IT sector for 2025. (Neutral) 

Nomura Cement Sector: Price hike in East & North bumps pan-India trade prices by ₹5/bag MoM , concerns remain over demand pan-India (Neutral) 

UBS on Hero Motocorp: Maintain Sell on Company, target price at Rs 3430/Sh (Neutral) 

MS on Hero Motocorp: Maintain Underweight on Company, target price at Rs 4110/Sh (Neutral)

> Kunvarji News Room:

Kunvarji: India Daybook – Stocks in News 

Suraj Estate: Company has purchased through a Conveyance Deed a vacant parcel of land admeasuring ~ 1,464 square meters. (Positive) 

RPP Infra Projects: Company has agreed to develop the 96 Legends project in Sri Lanka with Wills Realtors Pvt Ltd. (Positive) 

Dynamic Services: Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive) 

Gallantt Ispat: Company receives ₹80.45-crore SGST reimbursement from Gujarat, Uttar Pradesh governments. (Positive) 

Indraprastha Gas: Company to consider bonus shares on December 10. (Positive) 

Infosys: Company partners with Kardex to transform its business operations using SAP S/4HANA and Infosys Cobalt. (Positive) 

Quick Heal Technologies: Company launched Seqrite Malware Analysis Platform (SMAP) and Threat Intel solution. (Positive) 

Torrent Pharma: Company acquires 3 anti-diabetes brands from Boehringer Ingelheim for an undisclosed sum. (Positive) 

Techno pack: Company approves bonus share in the ratio 1:1. (Positive) 

Hero MotoCorp: Company launched VIDA V2 electric scooters in 3 variants (Positive) 

E2E Networks: L&T invested ₹1079.28 Cr for 29,79,579 equity shares, increasing the paid-up equity share capital to ₹19.86 Cr. (Positive) 

Royal Orchid: Company opened Regenta Inn in Raipur, Chhattisgarh – its first property in the state. (Positive) 

Sonata Software: Company achieved AWS Generative AI Competency. (Positive) 

Cyient DLM: Company signs a MoU with Arcedo Systems to establish a 500 kWp solar power plant at its Mysore facility. (Positive) 

Swiggy: Company mulls increasing Instamart delivery charges to boost profit margins. (Positive) 

GOCL Corp: Company announces further monetization of 11 acres of land for ₹142.15 crore. (Positive) 

Kross: Approved acquisition of 6.56 acres for future expansion. (Positive) 

RailTel: Company secures Rs. 10.64 crore order from Gail. (Positive) 

Unicommerce: Hummel partners with Unicommerce for e-commerce operations. (Positive) 

Bondada Engineering: Company bags order worth ₹108.9 crore from Bihar Renewable Energy Development Agency. (Positive) 

Sikko Industries: Company board approved the Letter of Offer for its rights issue (Neutral) 

Rane (Madras) Ltd: Company’s credit rating remains unchanged. (Neutral) 

Adani Power: Company’s subsidiary, Mahan Energen Limited, has successfully amalgamated with Stratatech Mineral Resources Private Limited. (Neutral) 

Mastek: Company’s Global CFO, Mr. Arun Agarwal, resigned on Dec 3, 2024. (Neutral) 

Muthoot Microfin: Company reduces lending rates by 25 bps for IGL, by 125 bps for TPP. (Neutral) 

Bharat Forge: Company opens QIP, sets floor price at ₹1,323.54/sh. (Neutral) 

Indus Tower: Omega Telecom Holding and Usha Martin Telematics to sell stake in Indus Towers, offer size is at ₹2,716.9 cr to ₹2,835.8 cr: CNBC Sources (Neutral) 

Eicher Motors: Royal Enfield opens new assembly plant in Thailand (Neutral) 

Indian Bank: Received RBI approval to exercise the call option on ₹1500 crore of its Tier 2 Bonds. (Neutral) 

Mahindra Lifespace: Company received five GST tax orders totaling ₹10.7Cr from Tamil Nadu. (Neutral) 

EPACK Durable: Company announced the resignation of its Company Secretary and Compliance Officer, Mr. Arjit Gupta (Neutral) 

KPIT Technologies: Company completed the acquisition of Technica Group for €80 million and KPIT engineering SUARL for €5 million. (Neutral) 

Home First: Orange Clove Investments B.V. sold 9,442,236 equity shares (10.59%) of Home First Finance Company India Ltd. (Neutral) 

Force Motors: November Total Sales 1,885 Units Vs 1,884 Units YoY. (Neutral) 

PG Electroplast: Company opens QIP, sets floor price at ₹705.18/sh (Neutral) 

Kirloskar Pneumatic: Company acquired 55.26% equity shares of Systems and Components. (Neutral) 

ICICI Bank: Offices searched by Maharashtra GST authorities. (Neutral) 

Vodafone Idea: Board to meet on December 9 to discuss Rs 2,000 crore fund raise. (Neutral) 

Bharat Forge/RK Forge: North America Class 8 Truck Orders Down 9% YoY & Up 18% MoM. (Neutral) 

Genus Power: Company’s corporate office and chairman’s residence were searched by the Directorate of Enforcement (Negative)