Today’s top morning headlines - 24th November 2023

Good afternoon,

Markets are trading flat, with the NIFTY50 near 19,800 as of 1:00 pm. Here are the top stories for the day!

Top gainer: Cipla: 1,203 ▲33 (+2.8%)
Top loser: HCL Tech: 1,312 ▼ 16 (-1.2%)

:star: Gland Pharma surges on USFDA inspection closure
Shares of the pharma company are up 4.9% in the early trade. This comes after it received an Established Inspection Report from USFDA for its Hyderabad plant. This indicates closure of inspection.

:star: LIC surges on new products launch
Shares of India’s largest life insurance player are up 7% today. The management aims to launch three to four new products in coming months. New products to include features like guaranteed returns, loan facility and premature withdrawal.

:star: Mamaearth continues to rally
Shares of Honasa Consumer – the owner of beauty brand Mamaearth – are up 5.4% in the early trade. The stock has risen 34% this week. Additionally, the company’s brand Dr. Sheth has achieved the milestone of becoming the fourth brand to surpass ₹150 crore in annual recurring revenue.

:star: Day 3: Tata Technologies IPO subscribed 19 times
On the final day, the IPO was subscribed 18.9 times as of 11:15 am. The retail portion has been subscribed 12.9 times. The IPO is also receiving strong interest from non-institutional investors with this segment being subscribed 40.5 times.