Market Research Report

Top News 01.12.2023

1 Indian banks set a decadal record with 123,000 hirings in 2 Tata Tech's m-cap tops that of sister co Elxsi, L&T Tech & KPIT
FY23 on Day 1
Indian banks witnessed their highest hiring numbers in a decade in
The first-day pop of Tata Technologies - the strongest debut in two
FY23, and the trend is expected to continue in FY24, with top banking
years - has resulted in the company's market value crossing ₹53,000
sector officials expecting a surge in headcount growth. This growth is
crore on Thursday, higher than that of some of its listed mid-cap peers
likely to surpass the previous year's record and potentially set an all-
such as KPIT Technologies and L&T Technology Services.
time high.
Analysts said the 163% surge on the opening day has made Tata
Net headcount addition in FY23 surged 61% over FY22 and is
Technologies a more expensive bet than some of these rivals with a
expected to beat the record high of FY11. The record additions are
more diversified client base. But the bet could pay off if investors have
being driven by aggressive hiring by private banks across functions
the patience to hold the stock for a longer period, they said.
such as customer interface, lending, assurance, and technology to
drive their branch expansion into tier 3 and rural areas.
 Market Research Report
Top News
3 JSW, China's SAIC form new India venture for green
mobility
Indian conglomerate JSW Group and China's SAIC Motor have
formed a joint venture in India with a focus on green mobility and
to develop the electric vehicle ecosystem, the two companies said
in a statement on Thursday.
JSW will take a 35% stake in the new Indian joint venture, the
companies said.
SAIC already has a presence in India through its fully owned unit
MG Motor India but has struggled to grow its presence in the
country after Chinese investments faced increased scrutiny from
New Delhi.
4 India's Q2 GDP growth slows to 7.6%, yet trumps
analyst expectations
Surpassing the analysts' expectations, India's Gross Domestic Product
(GDP) witnessed a growth of 7.6% on an annual basis in the second
quarter (July-September) as against a four-year high of 7.8% in the
previous quarter, data released by the National Statistical Office (NSO)
showed Thursday. A median poll of 10 economists by ET had showed
the economy clocking growth figures of 6.7%.
"Real GDP or GDP at Constant (2011-12) Prices in Q2 2023-24 is
estimated to attain a level of ₹41.74 lakh crore, as against ₹38.78 lakh
crore in Q2 2022-23, showing a growth of 7.6 percent as compared to
6.2 percent in Q2 2022-23," the release stated.
 Market Research Report
PRE - MARKET REPORT

Local time on November 30, the U.S. stock market continued to

soar, the Dow Jones industrial is up 1.58%, a new high for the year,
risky assets are favored by investors.
The peripheral environment turned good, superimposed on the
second quarter GDP growth rate exceeded expectations, the
market bullish atmosphere, today does not rule out the
continuation of the shock rise, the first trading day of the last
month of the third quarter, may perform brightly.
NIFTY, which closed yesterday under the pressure of 20135,
may challenge new all-time highs today, led by the surge in US
stocks and there is no risk of a pullback in the near term.
 Market Research Report
PRE - MARKET REPORT

BANKNIFTY, yesterday closed below the pressure level we

judged, if it breaks up today, the short-term pressure above
is at 45350.
 Market Research Report
Option strategy

Analysis: The 30-day intraday retracement, 15-minute trend oscillator constructing a box, is
expected to challenge 44800, the big cycle short trend has not changed.
Action: Buy Call Option
Stop Loss: 44300
Target: 44800

By,
Dhananjay Sinha
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