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Shares of state-owned <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankmaharashtra/BM05">Bank of Maharashtra</a> fell 2 percent on Monday following a report that the Centre may offload about a 5 percent stake in the lender to meet minimum public shareholding norms.

According to CNBC-TV18, the proposed stake sale is aimed at moving the bank closer to the mandated 25 percent public shareholding requirement. The government held 79.60 percent in the bank as of September 2025. CNBC-TV18 said it has sought a response from the bank, which is awaited.

On the NSE, the stock was trading at Rs 57.38, down 2.02 percent at 1:35 p.m.

Bank of Maharashtra had completed a Rs 3,500-crore qualified institutional placement in October 2024 to strengthen its capital buffers and progress toward meeting public shareholding rules.

Public-sector banks have been in focus after Finance Minister Nirmala Sitharaman said last month that work had begun on the next phase of consolidation among state-run lenders.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

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Govt may sell nearly 5% stake in Bank of Maharashtra, reports CNBC-TV18; shares fall 2%

Shares of state-owned Bank of Maharashtra fell 2 percent on Monday following a report that the Centre may offload about a 5 percent stake in the lender to meet minimum public shareholding norms.

According to CNBC-TV18, the proposed stake sale is aimed at moving the bank closer to the mandated 25 percent public shareholding requirement. The government held 79.60 percent in the bank as of September 2025. CNBC-TV18 said it has sought a response from the bank, which is awaited.

On the NSE, the stock was trading at Rs 57.38, down 2.02 percent at 1:35 p.m.

Bank of Maharashtra had completed a Rs 3,500-crore qualified institutional placement in October 2024 to strengthen its capital buffers and progress toward meeting public shareholding rules.

Public-sector banks have been in focus after Finance Minister Nirmala Sitharaman said last month that work had begun on the next phase of consolidation among state-run lenders.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/hindustanunilever/HU">Hindustan Unilever</a> (HUL) are set to adjust to the demerger of its ice-cream business, Kwality Wall's (India), after a special pre-open session on December 5. The shareholders who own shares of HUL as on that day will be eligible to receive free shares of the demerged ice cream unit.

HUL shares rose nearly 1 percent on Monday to trade at Rs 2,488 apiece, the highest level seen by the stock in more than a month.

&nbsp;
<h3><strong>About HUL-Kwality Wall's demerger:</strong></h3>
Earlier in November 2024, HUL approved the demerger of the ice cream business, which operates popular brands including 'Kwality Wall's', 'Cornetto' and 'Magnum'. National Company Law Tribunal (NCLT) approved the demerger scheme on October 30.

The ice cream business forms 3 percent of HUL's total yearly turnover, contributing Rs 1,800 crore to the total revenue.

&nbsp;
<h3><strong>Demerger ratio:</strong></h3>
The share entitlement ratio has been set at 1:1. This means that every shareholder of HUL will receive one share of the ice cream business for every share of the FMCG major they own, as on the record date.

&nbsp;
<h3><strong>Record date:</strong></h3>
The allotment date has been fixed at December 29. The record date to determine the eligibility of the shareholders set to receive the free shares has been set on December 5. This means that those HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive free shares of KWIL as part of the demerger.

&nbsp;
<h3><strong>When will KWIL shares debut on stock exchanges?</strong></h3>
HUL said the process of allotment, credit and listing of the demerged Kwality Wall's India shares will be undertaken in due course of time. According to market regulator SEBI's rules, the shares of the demerged entity will need to be listed within 60 days from NCLT's approval of the demerger scheme.

&nbsp;
<h3><strong>Kwality Wall's shares to be added to Nifty 50:</strong></h3>
The National Stock Exchange (NSE) on November 28 had announced that Kwality Wall's India will be included in the Nifty 50 index from December 5. The stock exchange will conduct a special pre-open session for HUL on December 5, ahead of the FMCG major’s planned demerger of its ice-cream business into Kwality Wall’s India.

As part of the index adjustments, the demerged entity will be briefly added to 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'.

&nbsp;
<h3><strong>HUL share price history:</strong></h3>
HUL shares have now extended gains for the fourth consecutive session. The shares of the company have risen around 3 percent in the past five days, and around 5 percent in the past six months. The stock is so far up more than 7 percent in 2025.

Its P/E ratio currently stands at around 54, and the company has a market capitalisation of more than Rs 5.8 lakh crore.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-01-12-2025-liveblog-13703452.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

HUL-Kwality Wall's demerger record date fixed for December 5: What it means for shareholders

The shares of Hindustan Unilever (HUL) are set to adjust to the demerger of its ice-cream business, Kwality Wall's (India), after a special pre-open session on December 5. The shareholders who own shares of HUL as on that day will be eligible to receive free shares of the demerged ice cream unit.

HUL shares rose nearly 1 percent on Monday to trade at Rs 2,488 apiece, the highest level seen by the stock in more than a month.

&amp;nbsp;
About HUL-Kwality Wall's demerger:
Earlier in November 2024, HUL approved the demerger of the ice cream business, which operates popular brands including 'Kwality Wall's', 'Cornetto' and 'Magnum'. National Company Law Tribunal (NCLT) approved the demerger scheme on October 30.

The ice cream business forms 3 percent of HUL's total yearly turnover, contributing Rs 1,800 crore to the total revenue.

&amp;nbsp;
Demerger ratio:
The share entitlement ratio has been set at 1:1. This means that every shareholder of HUL will receive one share of the ice cream business for every share of the FMCG major they own, as on the record date.

&amp;nbsp;
Record date:
The allotment date has been fixed at December 29. The record date to determine the eligibility of the shareholders set to receive the free shares has been set on December 5. This means that those HUL shareholders whose names appear in the register of members as on the record date will be entitled to receive free shares of KWIL as part of the demerger.

&amp;nbsp;
When will KWIL shares debut on stock exchanges?
HUL said the process of allotment, credit and listing of the demerged Kwality Wall's India shares will be undertaken in due course of time. According to market regulator SEBI's rules, the shares of the demerged entity will need to be listed within 60 days from NCLT's approval of the demerger scheme.

&amp;nbsp;
Kwality Wall's shares to be added to Nifty 50:
The National Stock Exchange (NSE) on November 28 had announced that Kwality Wall's India will be included in the Nifty 50 index from December 5. The stock exchange will conduct a special pre-open session for HUL on December 5, ahead of the FMCG major’s planned demerger of its ice-cream business into Kwality Wall’s India.

As part of the index adjustments, the demerged entity will be briefly added to 35 Nifty indices at a zero price, using a dummy symbol 'DUMMYHDLVR'.

&amp;nbsp;
HUL share price history:
HUL shares have now extended gains for the fourth consecutive session. The shares of the company have risen around 3 percent in the past five days, and around 5 percent in the past six months. The stock is so far up more than 7 percent in 2025.

Its P/E ratio currently stands at around 54, and the company has a market capitalisation of more than Rs 5.8 lakh crore.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/wockhardt/W05">Wockhardt</a> sharply surged more than 19 percent on December 1 after the company announced that the US FDA has formally accepted the New Drug Application (NDA) for its antibiotic Zaynich.

The shares of the company rose to Rs 1,473.70 apiece on Monday, snapping a two-session losing streak. Zaynich targets complicated urinary tract infections (cUTIs) caused by multi-drug resistant (MDR) gram-negative bacteria.
<h3><strong>US FDA accepts Wockhardt's NDA for antibiotic Zaynich:</strong></h3>
Wockhardt in its exchange filing said that the <a href="https://www.moneycontrol.com/news/business/stocks/wockhardt-applies-to-seek-usfda-nod-for-miracle-antibiotic-zaynich-13595088.html">NDA was first filed</a> on September 30, and its acceptance marks a "transformative moment, not only for Wockhardt, but also for the entire Indian pharmaceutical industry". "This is the first time in history that an NDA for a New Chemical Entity (NCE) from an Indian pharmaceutical company has been filed and accepted by the US FDA," it added.

The pharma company said that the United States Food and Drug Administration (US FDA) has granted fast track designation to Zaynich NDA, recognizing its potential to address urgent and unmet medical needs. "As part of this pathway, the FDA has committed to assign priority to Zaynich NDA review," it added.

"A novel β-lactam enhancer mechanism based Zaynich has garnered international attention for its potent activity against highly resistant Gram-negative pathogens—microbes responsible for prolonged hospitalizations and significant mortality worldwide. Its life-saving impact has already been demonstrated through compassionate use in critically ill patients in both India and the United States," Wockhardt said.

The science-driven program to develop Zaynich was initiated by Wockhardt in 2011, and the pharma company said that it has successfully navigated a demanding non-clinical, clinical and regulatory pathway. "With Zaynich, Wockhardt continues to drive forward its mission of delivering path breaking anti-infective therapies that respond to some of the most serious threats in global healthcare," it added.

Speaking about the development, Wockhardt said, "The FDA's acceptance of the Zaynich NDA is a historic and proud moment for the organization and for India. It reaffirms our commitment to developing advanced anti-infective solutions for the world and demonstrates what Indian science and innovation can achieve on the global stage."
<h3><strong>Wockhardt share price history:</strong></h3>
Wockhardt shares have gained nearly 14 percent in the past five days, and around 3 percent in the past one month. The stock has fallen marginally in the past six months.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-01-12-2025-liveblog-13703452.html">LIVE updates</a> from the stock markets here.

Wockhardt shares rise 19% as US FDA accepts firm's new drug application for antibiotic Zaynich

The shares of Wockhardt sharply surged more than 19 percent on December 1 after the company announced that the US FDA has formally accepted the New Drug Application (NDA) for its antibiotic Zaynich.

The shares of the company rose to Rs 1,473.70 apiece on Monday, snapping a two-session losing streak. Zaynich targets complicated urinary tract infections (cUTIs) caused by multi-drug resistant (MDR) gram-negative bacteria.
US FDA accepts Wockhardt's NDA for antibiotic Zaynich:
Wockhardt in its exchange filing said that the NDA was first filed on September 30, and its acceptance marks a &quot;transformative moment, not only for Wockhardt, but also for the entire Indian pharmaceutical industry&quot;. &quot;This is the first time in history that an NDA for a New Chemical Entity (NCE) from an Indian pharmaceutical company has been filed and accepted by the US FDA,&quot; it added.

The pharma company said that the United States Food and Drug Administration (US FDA) has granted fast track designation to Zaynich NDA, recognizing its potential to address urgent and unmet medical needs. &quot;As part of this pathway, the FDA has committed to assign priority to Zaynich NDA review,&quot; it added.

&quot;A novel β-lactam enhancer mechanism based Zaynich has garnered international attention for its potent activity against highly resistant Gram-negative pathogens—microbes responsible for prolonged hospitalizations and significant mortality worldwide. Its life-saving impact has already been demonstrated through compassionate use in critically ill patients in both India and the United States,&quot; Wockhardt said.

The science-driven program to develop Zaynich was initiated by Wockhardt in 2011, and the pharma company said that it has successfully navigated a demanding non-clinical, clinical and regulatory pathway. &quot;With Zaynich, Wockhardt continues to drive forward its mission of delivering path breaking anti-infective therapies that respond to some of the most serious threats in global healthcare,&quot; it added.

Speaking about the development, Wockhardt said, &quot;The FDA's acceptance of the Zaynich NDA is a historic and proud moment for the organization and for India. It reaffirms our commitment to developing advanced anti-infective solutions for the world and demonstrates what Indian science and innovation can achieve on the global stage.&quot;
Wockhardt share price history:
Wockhardt shares have gained nearly 14 percent in the past five days, and around 3 percent in the past one month. The stock has fallen marginally in the past six months.

Follow all LIVE updates from the stock markets here.

The shares of One97 Communications, the parent company of <a href="https://www.moneycontrol.com/india/stockpricequote/online-services/one97communicationspaytm/OC03">Paytm</a>, rose more than 3 percent to hit a fresh 52-week high of Rs 1,364.80 apiece on December 1. The stock has extended gains for the fourth consecutive session amid positive investor sentiment following bullish brokerage calls and RBI’s final approval for Payment Aggregator license.

The shares of the company rose to Rs 1,364.80 apiece, the highest level seen by the stock in nearly four years since December 29, 2021. The stock has now risen around 10 percent in four consecutive sessions so far.
<h3><strong>Paytm Payments Services gets RBI's final approval to operate as payment aggregator:</strong></h3>
In an exchange filing released in the post markets hours of November 26, Paytm announced that RBI granted the Certificate of Authorization (COA) to the firm's wholly-owned subsidiary Paytm Payments Services Limited (PPSL) to <a href="https://www.moneycontrol.com/news/business/markets/paytm-shares-rise-2-after-subsidiary-gets-rbi-s-final-approval-to-operate-as-payment-aggregator-13698503.html">operate as a payment aggregator</a> under the Payment and Settlement Systems Act, 2007.

The certificate will allow PPSL to resume onboarding merchants — a process that had been under RBI freeze since November 2022. According to the filing, the license will enable PPSL to continue offering payment aggregation services, and growth in this business segment will reflect in the consolidated financials of One 97 Communications Limited.
<h3><strong>Goldman Sachs upgrades Paytm's rating to 'Buy':</strong></h3>
Goldman Sachs <a href="https://www.moneycontrol.com/news/business/markets/paytm-shares-jump-3-5-after-goldman-sachs-upgrades-rating-to-buy-sees-21-upside-13701580.html">upgraded the rating for Paytm shares</a> to 'Buy' from its earlier 'Neutral' rating, and hiked its target price by 100 percent to Rs 1,570 apiece from Rs 705 apiece earlier. The latest target price implies an upside potential of nearly 19 percent from the stock's previous closing price of Rs 1,320.6 apiece.

The international brokerage said that the regulatory environment, which was earlier a key drag on the stock, is incrementally getting better. This is translating into recovery for Paytm's payments market share, better earnings visibility and relaunch of products, it added.
<h3><strong>ICICI Securities hikes target price for Paytm:</strong></h3>
ICICI Securities <a href="https://www.moneycontrol.com/news/business/markets/paytm-shares-snap-three-day-losses-rise-nearly-4-as-icici-securities-hikes-price-target-13697891.html">hiked its target price</a> for Paytm shares to Rs 1,450 apiece from Rs 1,240 apiece, while maintained its ‘Buy’ call. The latest target price implies an upside potential of nearly 10 percent from the stock’s closing price.

The domestic brokerage said that it sees strong earnings growth potential driven by payment and loan distribution expansion, margin improvement through product upgrades and better UPI mix. "Paytm's plans for traction in postpaid, wallet and international segment complemented by its diverse presence across the payment ecosystem could support a net revenue of Rs 12,523 crore by FY28," said ICICI Securities.
<h3><strong>Paytm share price history:</strong></h3>
Paytm shares have gained nearly 8 percent in the past five days, and more than 6 percent in the past one month. The stock has rallied around 47 percent in the past six months, and is up around 37 percent in 2025 so far.

After hitting a 52-week low of Rs 651.50 on March 11 this year, the stock jumped a whopping 110 percent in less than nine months to hit a 52-week high of Rs 1,364.8 apiece today, December 1.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-01-12-2025-liveblog-13703452.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Paytm shares hit near four-year high on brokerage upgrades, RBI approval: What lies ahead?

Paytm share price hits near four-year high on brokerage upgrades, RBI approval: What lies ahead?

The shares of One97 Communications, the parent company of Paytm, rose more than 3 percent to hit a fresh 52-week high of Rs 1,364.80 apiece on December 1. The stock has extended gains for the fourth consecutive session amid positive investor sentiment following bullish brokerage calls and RBI’s final approval for Payment Aggregator license.

The shares of the company rose to Rs 1,364.80 apiece, the highest level seen by the stock in nearly four years since December 29, 2021. The stock has now risen around 10 percent in four consecutive sessions so far.
Paytm Payments Services gets RBI's final approval to operate as payment aggregator:
In an exchange filing released in the post markets hours of November 26, Paytm announced that RBI granted the Certificate of Authorization (COA) to the firm's wholly-owned subsidiary Paytm Payments Services Limited (PPSL) to operate as a payment aggregator under the Payment and Settlement Systems Act, 2007.

The certificate will allow PPSL to resume onboarding merchants — a process that had been under RBI freeze since November 2022. According to the filing, the license will enable PPSL to continue offering payment aggregation services, and growth in this business segment will reflect in the consolidated financials of One 97 Communications Limited.
Goldman Sachs upgrades Paytm's rating to 'Buy':
Goldman Sachs upgraded the rating for Paytm shares to 'Buy' from its earlier 'Neutral' rating, and hiked its target price by 100 percent to Rs 1,570 apiece from Rs 705 apiece earlier. The latest target price implies an upside potential of nearly 19 percent from the stock's previous closing price of Rs 1,320.6 apiece.

The international brokerage said that the regulatory environment, which was earlier a key drag on the stock, is incrementally getting better. This is translating into recovery for Paytm's payments market share, better earnings visibility and relaunch of products, it added.
ICICI Securities hikes target price for Paytm:
ICICI Securities hiked its target price for Paytm shares to Rs 1,450 apiece from Rs 1,240 apiece, while maintained its ‘Buy’ call. The latest target price implies an upside potential of nearly 10 percent from the stock’s closing price.

The domestic brokerage said that it sees strong earnings growth potential driven by payment and loan distribution expansion, margin improvement through product upgrades and better UPI mix. &quot;Paytm's plans for traction in postpaid, wallet and international segment complemented by its diverse presence across the payment ecosystem could support a net revenue of Rs 12,523 crore by FY28,&quot; said ICICI Securities.
Paytm share price history:
Paytm shares have gained nearly 8 percent in the past five days, and more than 6 percent in the past one month. The stock has rallied around 47 percent in the past six months, and is up around 37 percent in 2025 so far.

After hitting a 52-week low of Rs 651.50 on March 11 this year, the stock jumped a whopping 110 percent in less than nine months to hit a 52-week high of Rs 1,364.8 apiece today, December 1.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of metal companies rose in trade on December 1, as soaring commodity prices, rising expectations of a rate cut by the US Federal Reserve and strong manufacturing data boosted investor sentiment. The rise in the metal stocks pushed the <a href="https://www.moneycontrol.com/indian-indices/nifty-metal-51.html">Nifty Metal</a> index up nearly 1 percent in the morning trading hours.

The index rose to 10,374.30 on Monday, as seen at 10.26 am, extending gains for the second consecutive session.
<h3><strong>Strong manufacturing growth in Q2:</strong></h3>
Manufacturing output rose 9.1 percent during the July-September quarter of the ongoing financial year 2026 (Q2 FY26), according to the <a href="https://www.moneycontrol.com/news/business/economy/india-s-economy-grows-at-a-six-quarter-high-of-8-2-percent-in-q2-13701585.html">latest official data</a>. This marks a sharp rise from the 7.7 percent growth recorded in the preceding quarter (Q1 FY26), and 7.6 percent in the year-ago period (Q2 FY25).

The strong manufacturing data may have also boosted investor sentiment.
<h3><strong>Soaring copper prices:</strong></h3>
Copper prices soared to fresh record highs globally amid supply concerns. Top Chinese smelters agreed to a plan to cut output in 2026 and on record-high premium offers by Codelco, the world's biggest copper producing company.

Copper prices on the London Metal Exchange (LME) set a new all-time high of more than $11,290 per ton. Comex futures in the US also rose nearly 2 percent.

On the domestic front too, copper futures soared to lifetime highs. Copper futures on the Multi Commodity Exchange of India (MCX) with December expiry rose more than 1 percent to hit a lifetime high of Rs 1,048 per kilogram.

The sharp rise in the copper prices pushed the shares of <a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/hindustancopper/HC07">Hindustan Copper</a> nearly 4 percent higher to trade at around Rs 339 apiece.
<h3><strong>Silver prices jump:</strong></h3>
Silver prices accompanied the red metal, rising to fresh record highs. Silver futures with March expiry on MCX rose nearly 2 percent to hit a lifetime high of nearly Rs 1.79 lakh crore per kilogram.

"Industrial demand for electronics and renewables remains strong while silver also benefits from safe-haven sentiment that’s impacting gold. Silver can also attract flows from investors who are looking to take advantage of Silver’s higher reward potential," said Ross Maxwell, Global Strategy Lead at VT Markets.

Following the sharp rise in silver prices, <a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/hindustanzinc/HZ">Hindustan Zinc</a> shares rose more than 2 percent to trade at Rs 497 apiece. Notably, Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity.
<h3><strong>Fed rate cut hopes:</strong></h3>
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. Fed Governor Christopher Waller last week said that the American job market is weak enough to warrant another quarter-point rate cut in December.

Earlier, New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, said that interest rates can fall "in the near term".

"I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral," Williams said.

Traders now see an 87 percent chance of a rate cut in December, up from 50 percent last week, Reuters reported. A rate cut in the US could reduce borrowing costs for foreign investors, encouraging them to invest in higher growth markets in India. This boosts metal stocks.
<h3><strong>Other metal gainers today:</strong></h3>
While Hindustan Copper and Hindustan Zinc led gains on the metal index, National Aluminium Company (<a href="https://www.moneycontrol.com/india/stockpricequote/aluminium/nationalaluminiumcompany/NAC">NALCO</a>) shares followed, rising more than 2 percent. <a href="https://www.moneycontrol.com/india/stockpricequote/miningminerals/vedanta/SG">Vedanta</a> shares meanwhile gained around 2 percent.

Steel Authority of India (<a href="https://www.moneycontrol.com/india/stockpricequote/steel-large/steelauthorityindia/SAI">SAIL</a>), APL Apollo Tubes, <a href="https://www.moneycontrol.com/india/stockpricequote/trading/adanienterprises/AE13">Adani Enterprises</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/steel-large/jswsteel/JSW01">JSW Steel</a> shares rose around 1 percent each, while Hindalco Industries, <a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/tatasteel/TIS">Tata Steel</a> and Welspun Corporation shares were up nearly 0.5 percent.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-01-12-2025-liveblog-13703452.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Metal stocks rise for second day; Hind Copper, NALCO rise up to 3%: Here are four reasons behind rally

The shares of metal companies rose in trade on December 1, as soaring commodity prices, rising expectations of a rate cut by the US Federal Reserve and strong manufacturing data boosted investor sentiment. The rise in the metal stocks pushed the Nifty Metal index up nearly 1 percent in the morning trading hours.

The index rose to 10,374.30 on Monday, as seen at 10.26 am, extending gains for the second consecutive session.
Strong manufacturing growth in Q2:
Manufacturing output rose 9.1 percent during the July-September quarter of the ongoing financial year 2026 (Q2 FY26), according to the latest official data. This marks a sharp rise from the 7.7 percent growth recorded in the preceding quarter (Q1 FY26), and 7.6 percent in the year-ago period (Q2 FY25).

The strong manufacturing data may have also boosted investor sentiment.
Soaring copper prices:
Copper prices soared to fresh record highs globally amid supply concerns. Top Chinese smelters agreed to a plan to cut output in 2026 and on record-high premium offers by Codelco, the world's biggest copper producing company.

Copper prices on the London Metal Exchange (LME) set a new all-time high of more than $11,290 per ton. Comex futures in the US also rose nearly 2 percent.

On the domestic front too, copper futures soared to lifetime highs. Copper futures on the Multi Commodity Exchange of India (MCX) with December expiry rose more than 1 percent to hit a lifetime high of Rs 1,048 per kilogram.

The sharp rise in the copper prices pushed the shares of Hindustan Copper nearly 4 percent higher to trade at around Rs 339 apiece.
Silver prices jump:
Silver prices accompanied the red metal, rising to fresh record highs. Silver futures with March expiry on MCX rose nearly 2 percent to hit a lifetime high of nearly Rs 1.79 lakh crore per kilogram.

&quot;Industrial demand for electronics and renewables remains strong while silver also benefits from safe-haven sentiment that’s impacting gold. Silver can also attract flows from investors who are looking to take advantage of Silver’s higher reward potential,&quot; said Ross Maxwell, Global Strategy Lead at VT Markets.

Following the sharp rise in silver prices, Hindustan Zinc shares rose more than 2 percent to trade at Rs 497 apiece. Notably, Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity.
Fed rate cut hopes:
Despite initial expectations of a no rate cut, a higher probability of a December rate cut by the US Federal Reserve has been boosting global markets. Fed Governor Christopher Waller last week said that the American job market is weak enough to warrant another quarter-point rate cut in December.

Earlier, New York Fed President John Williams, a permanent voter on rate policy and vice chair of the rate-setting Federal Open Market Committee, said that interest rates can fall &quot;in the near term&quot;.

&quot;I view monetary policy as being modestly restrictive...Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral,&quot; Williams said.

Traders now see an 87 percent chance of a rate cut in December, up from 50 percent last week, Reuters reported. A rate cut in the US could reduce borrowing costs for foreign investors, encouraging them to invest in higher growth markets in India. This boosts metal stocks.
Other metal gainers today:
While Hindustan Copper and Hindustan Zinc led gains on the metal index, National Aluminium Company (NALCO) shares followed, rising more than 2 percent. Vedanta shares meanwhile gained around 2 percent.

Steel Authority of India (SAIL), APL Apollo Tubes, Adani Enterprises and JSW Steel shares rose around 1 percent each, while Hindalco Industries, Tata Steel and Welspun Corporation shares were up nearly 0.5 percent.

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(With inputs from Reuters)

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Auto Ancillaries - Shock absorbers Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Shock absorbers industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

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Auto Ancillaries - Shock absorbers Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Shock absorbers industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q2 FY25-26

Stock News

Govt may sell nearly 5% stake in Bank of Maharashtra, reports CNBC-TV18; shares fall 2%

HUL-Kwality Wall's demerger record date fixed for December 5: What it means for shareholders

Wockhardt shares rise 19% as US FDA accepts firm's new drug application for antibiotic Zaynich

Paytm shares hit near four-year high on brokerage upgrades, RBI approval: What lies ahead?

Metal stocks rise for second day; Hind Copper, NALCO rise up to 3%: Here are four reasons behind rally

Auto Ancillaries - Shock absorbers Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillaries - Shock absorbers industry stocks.