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The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
CESC has secured a Rs 871 crore deal to acquire 100% shares in a distribution company for electricity supply in Chandigarh, following a favorable ruling from the Punjab and Haryana High Court that dismissed trade unions' objections to the privatization. The transaction, initiated in 2021, faced delays due to legal challenges but is now set to proceed.
Stocks in focus on Monday include Zomato, Alembic Pharma, RITES, Akzo Nobel, Rail Vikas Nigam, Cochin Shipyard, CESC, and HG Infra. Additionally, ACME Solar Holdings, Niva Bupa Health Insurance Company, Sagility India, and Jainex Aamcol are set to release their quarterly earnings on November 25.
CESC"s consolidated PAT rose 1.4% y-o-y to Rs. 353 crore, driven by strong performances in Haldia and Dhariwal, despite a 5% decline in standalone PAT due to higher interest expenses. The company plans a significant renewable energy expansion with a capex of Rs. 12-13k crore over the next 4-5 years and has implemented a 5.7% tariff hike. Sharekhan maintains a Buy rating with a revised target price of Rs. 217, highlighting growth potential from renewable energy investments and a turnaround in the distribution business.
CESC shares fell nearly 4% following mixed Q2FY25 earnings, with a modest 1% increase in consolidated net profit to Rs 353 crore, bolstered by strong performance from subsidiaries. However, standalone profit dropped 5% to Rs 220 crore due to rising interest costs. Revenue rose 8% year-on-year to Rs 4,700 crore, while EBITDA increased by 1.5% to Rs 1,085 crore.

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