Top stocks to buy (AI image)

Stock market recommendations: According to Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities, the top stock picks for this week are City Union Bank, and Belrise Industries. Here’s his view on Nifty, Bank Nifty for the week starting November 17, 2025:Nifty View:The benchmark index Nifty staged a solid rebound after taking support in the 25300–25330 zone—an area marked by the confluence of the 50-day EMA and the 50% Fibonacci retracement of the prior upswing from 24587 to 26104. This technical alignment provided a strong platform for recovery, propelling the index nearly 700 points higher from the recent low of 25318 within just five sessions.Friday’s session began with a gap-down opening, followed by a largely sideways movement. However, a sharp surge in the final hour revived bullish sentiment, supported by market optimism as the NDA secured a notable lead in the Bihar elections. Nifty ended the week above 25900, posting a healthy 1.64% gain and forming a bullish candle, signaling continued strength. Additionally, Nifty Midcap 100 and Bank Nifty registered fresh all-time highs during the week, adding to the upbeat tone.Technically, the index is positioned well above its key moving averages, all of which are trending higher—indicating sustained positive momentum. Both daily and weekly RSI readings remain comfortably in bullish territory, suggesting the uptrend could extend further. Going ahead, we anticipate a move towards 26200 initially, followed by 26500 in the short term.On the lower side, the 20-day EMA zone around 25700–25650 remains a crucial support buffer. A decisive break below this area may invite profit-taking, but unless that happens, the near-term outlook stays positive. Sector-wise, leadership is expected from Private Banks, PSU Banks, Financial Services, Defence, Automobiles, Oil & Gas, Capital Markets, Infrastructure, and Pharma space.Bank Nifty ViewAfter three successive weeks of sideways consolidation, Bank Nifty has finally staged a decisive breakout, fueling a strong upward move and clocking a fresh all-time high. The index closed the week above 58500, forming a sizable bullish candle on the weekly chart—clearly signalling renewed strength in banking stocks.With the index now trading at record highs, all major moving averages remain aligned upward, reaffirming the prevailing bullish trend. Momentum indicators are also supportive: both daily and weekly RSI are positioned firmly in positive territory, while a rising weekly MACD histogram reflects increasing upside momentum, adding confidence to the breakout structure.Looking ahead, the 58700–58800 zone will serve as a crucial resistance area. A sustained close above 58800 may open the door for a sharp rally toward 59500, followed by 60200 in the near term. On the downside, the 20-day EMA range of 57800–57700 is expected to act as a strong demand zone, ensuring the broader bias remains constructive as long as this support holds.

Stock recommendations:

City Union BankCity Union Bank (CUB) has given a bullish Flag breakout on a daily scale, backed by rising volumes that validate the strength of the breakout. The MACD slope is trending upwards, signalling sustained bullish momentum and reinforcing the shift in favour of buyers. Price action remains firmly above key short and long-term moving averages, highlighting a strong underlying trend. The stock also closed near the upper Bollinger Band, indicating persistent buying pressure and suggesting that price may continue to push higher within the band. Overall, the setup remains firmly bullish, with potential for further upside. Hence, we recommend to accumulate the stock in the zone of 271-268 with a stoploss of 258. On the upside, it is likely to test the level of 290 in the short term.Belrise IndustriesBelrise has broken out of its tight 143–158 consolidation range, a structure that persisted through most of October. The breakout on 13th November, accompanied by strong volumes, confirms renewed buying interest. Price has now closed above the upper Bollinger Band for two consecutive sessions, highlighting strong upside momentum. RSI has surged and is now positioned at 69.27, reflecting firm bullish strength.The MACD histogram bars continue to rise, indicating accelerating momentum as bullish pressure builds, while the MACD line staying above both the signal line and the zero line reinforces a positive trend structure. Overall, Belrise appears set for continued upside. Hence, we recommend to accumulate the stock in the zone of 165-163 with a stoploss of 156. On the upside, it is likely to test the level of 175 in the short term.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

PM Narendra Modi (ANI image)

NEW DELHI: Prime Minister Narendra Modi on Monday expressed deep sorrow over the tragic accident in Medinah, Saudi Arabia in which more than 40 Indian Umrah pilgrims are feared dead. In a post on X, he wrote: “Deeply saddened by the accident in Medinah involving Indian nationals. My thoughts are with the families who have lost their loved ones. I pray for the swift recovery of all those injured. Our Embassy in Riyadh and Consulate in Jeddah are providing all possible assistance. Our officials are also in close contact with Saudi Arabian authorities.”

According to initial reports, the crash took place early Monday when a passenger bus travelling from Mecca to Medina collided with a diesel tanker. The pilgrims had completed their rituals in Mecca and were heading to Medina when the collision occurred around 1.30 am IST. Many of the victims are believed to be from Hyderabad. Local sources said more than 40 people died on the spot, while the Telangana Haj Committee stated that 42 pilgrims had lost their lives. The victims reportedly include women and children, and most passengers were asleep at the time of the crash.Telangana chief minister A Revanth Reddy said he was shocked to hear about the tragedy and instructed officials to urgently collect detailed information, including the number of passengers from Telangana. The state government has set up a control room to assist affected families, while authorities remain in contact with the Ministry of External Affairs and Saudi officials.The Indian Consulate in Jeddah has activated a 24×7 helpline to support families seeking information. Hyderabad MP Asaduddin Owaisi said he contacted travel agencies and MEA officials and shared passenger details with the Indian Embassy in Riyadh. External affairs minister S Jaishankar also expressed grief. In a post on X he wrote: “Deeply shocked at the accident involving Indian nationals in Medinah, Saudi Arabia. Our Embassy in Riyadh and Consulate in Jeddah are giving fullest support to Indian nationals and families affected by this accident. Sincere condolences to the bereaved families. Pray for the speedy recovery of those injured.”

CHENNAI: India’s state-run oil marketing companies are expected to withstand the impact of fresh US sanctions on Russian energy giants Rosneft and Lukoil, as well as the European Union’s ban on refined products derived from Russian crude, according to Fitch Ratings.The rating agency said the measures are unlikely to materially affect refining margins or the credit profiles of rated Indian OMCs, though the eventual impact will hinge on the duration and strictness of sanctions enforcement.

Russia supplied about 33% of India’s crude imports between January and August 2025, and its discounted price has supported Indian OMCs’ EBITDA and profitability. While OMCs are expected to adhere to the sanctions—consistent with their public positions—Fitch noted that some refiners may still process Russian crude sourced through non-sanctioned channels.Sanctions are likely to reduce global demand for refined products linked to affected Russian crude, widening product spreads. This could ease pressure on refiners’ profitability as they shift toward costlier alternatives and manage volatility in shipping and insurance. Refiners continuing to use Russian crude could also secure larger discounts, offering some margin protection.

Fitch added that ample spare global crude production capacity should help contain upward pressure on oil prices. It forecasts Brent crude at $65 per barrel in 2026, compared with $70 in 2025.However, private refiners with sizable EU export exposure may face higher compliance risks, as verifying crude origin becomes more complex when grades are blended before refining. Such refiners may need to diversify markets, adjust crude sourcing strategies, or strengthen traceability systems.Indian OMCs posted EBITDA broadly in line with or slightly above expectations in the first half of FY26, supported by lower crude costs and strong gasoil spreads. Gross refining margins averaged $6–7 per barrel, compared with $4.5–7 per barrel in FY25.Fitch expects mid-cycle refining margins of around $6 per barrel in FY27, helped by rising domestic demand, high refinery utilisation and lower crude prices, even as global growth moderates. Marketing margins should remain stable barring any government intervention on retail prices or excise duties.To cushion OMCs from regulated LPG sales at subsidised rates, the government has approved a Rs300 billion support package for Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) in the second quarter of FY26. This will help offset under-recoveries and strengthen liquidity, it said.

File photo: Economic secretary Anuradha Thakur

MUMBAI: The government has said that the financial sector should not fight disintermediation but “take the bull by its horns, work collectively, analyse trends deeply and see how to channelise these so that financial flows become smoother within the domestic economy to all segments that require finance.”Speaking at the CII Financing Summit | India’s Financial Sector: Building Growth in Mumbai, economic secretary Anuradha Thakur said there was a rising financialisation of savings, a shift from deposits to mutual funds and equities, falling CASA ratios and greater reliance on market-based funding. She said the share of banks in total credit has dropped from 77% to around 60%, IPO activity has increased sixfold, and corporates are relying more on internal resources. These shifts, she said, require industry and regulators to “collectively think” about how to ensure that finance reaches MSMEs and low-income households, describing the financial system as “a strategic driver not only of long-term growth but also of ensuring distributional equity.”According to Thakur the new trends “call into question the usual known ways of doing business” and urged industry to confront them directly rather than be unsettled by shifts in savings patterns, credit flows and market-based financing. She also expressed hole that the recent GST cuts “will ignite the much-needed animal spirits in the financial sector.”She added that MSMEs “face persistent credit constraints which are compounded by delayed payments from large buyers and limited access to formal debt markets,” arguing that cash-flow-based lending and technology-driven tools can ease pressures on the sector.Thakur said the financial sector had become “a catalyst and reflection of India’s economic transformation,” supported by reforms that strengthened bank balance sheets, improved NPA resolution and enforced stricter governance. She said regulators “have strictly enforced disclosure norms, protection of investors and improved governance,” while gradual liberalisation and stable macroeconomic management have “held us in good stead avoiding shocks and sudden capital flows.” According to her, inclusion measures and digital infrastructure—from Jandhan and Aadhaar to UPI—have created systems with “the potential to accelerate economic growth,” while direct benefit transfers now ensure that subsidies “reach the genuine beneficiaries.”Thakur said targeted schemes have “democratized access to collateral-free credit, empowered women and marginalized entrepreneurs,” citing the Credit Guarantee Scheme, Mudra and Stand Up India, along with tools like GST Sahai and account aggregator frameworks.She highlighted the need for deeper capital markets, noting that the corporate bond market “remains dominated by highly rated financial issuers and has a weak secondary market liquidity,” and said more companies must be encouraged to issue bonds through better disclosures and credit enhancement mechanisms. She also described REITs and InvITs as still “viewed as niche products,” even though a decade has passed since their introduction, and said “critical miles” remain before they become mainstream channels for long-term savings.The IFSC at Gift City, she said, is “emerging as a global hub for financial services,” supported by regulatory sandboxes that allow experimentation under “robust safeguards for investor protection.” On infrastructure, she cited the National Infrastructure Pipeline, National Monetisation Pipeline and NIIF, noting that NIIF has mobilised “more than 16,000 crores for investors.”She concluded by saying that sustaining 8% GDP growth will require significant investment, with the financial system playing “a pivotal role in channelling savings towards investments in productive segments of the economy.”

A tragic road accident in Saudi Arabia has claimed the lives of over 40 Indian Umrah pilgrims, all reportedly from Hyderabad

HYDERABAD: A tragic road accident in Saudi Arabia early Monday has left more than 40 Indian Umrah pilgrims feared dead, with all the victims from Hyderabad. At least 16 people from Mallepally’s Bazaar Ghat are among those who died when a passenger bus carrying pilgrims from Mecca to Medina collided with a diesel tanker around 1.30 am IST.

The deceased from Bazaar Ghat have been identified as Rahimunnisa, Rahmat Bi, Shehnaaz Begum, Ghausia Begum, Qadir Mohammad, Mohammad Maulana, Shoaib Mohammad, Sohail Mohammad, Mastan Mohammad, Parveen Mohammad, Zakia Mohammad, Shaukat Mohammad, Farheen Mohammad, Zaheen Mohammad, Mohammad Sanjeev and Mohammad Ali.Read more: Mecca pilgrims were asleep when bus crashed; several Indians feared dead- What we know so farInitial reports from local Saudi sources suggested “more than 40” fatalities, while the Telangana Haj Committee later said 42 pilgrims lost their lives.Many of them were reportedly asleep at the time of the collision. Early information also indicates that the victims include 20 women and 11 children from Hyderabad.Complete list of all 45 bus passengers:

Read more: Mecca-Medina bus crash: Control room set up in Jeddah – here are the helpline numbersBus was travelling from Mecca to MedinaAccording to preliminary information, the bus was carrying pilgrims who had completed rituals in Mecca and were on their way to Medina. Local residents were the first to reach the crash site and assist rescue teams. Saudi authorities are expected to share a formal toll after completing identification procedures.Control rooms activated in India and Saudi ArabiaTo assist families, the Telangana government and Indian missions have set up helplines.Consulate General of India, Jeddah (24×7): 8002440003Telangana CM seeks full reportTelangana chief minister Revanth Reddy expressed shock over the deaths, directing chief secretary A. Santhi Kumari and the DGP to immediately gather complete details regarding the pilgrims from the state.The CMO said the CM asked officials to coordinate with the Ministry of External Affairs and the Saudi Embassy, and, if required, dispatch teams on the ground for assistance. A control room has been set up at the state Secretariat, and Resident Commissioner Gaurav Uppal has been tasked with collecting verified information on all Telangana residents involved.External affairs minister S. Jaishankar said he was “deeply shocked” by the loss of Indian lives, adding that the Embassy in Riyadh and Consulate in Jeddah were extending full support.

Screen grab (Source: X/@Andrew_WilsonUK)

Around 2,000 people joined the protest that took place on Sunday in Crowborough, East Sussex, against government plans to accommodate 540 single male asylum seekers at a disused army camp on the edge of the town.During the protests, mothers led chants of “Starmer out” as marchers carried Union Jacks, St George’s crosses, and handwritten placards with slogans including “Protect Us. Protect our children” and “Our children’s freedom gone, so they can have theirs,” The Times reported.

This comes after a heated public meeting on Thursday, where private security guards intervened when local politicians were chased out of the community centre hall. Some residents said they were installing panic alarms in their homes and raised concerns about access to local GP services, which are already in high demand, the BBC reported.The government announced in October that the asylum seekers would be accommodated at the disused army camp, as part of efforts to end the use of hotels for migrant accommodation. A Home Office spokesperson told the BBC that the move aims to provide “more suitable accommodation” while public safety remains the first priority.Kim Bailey, chairwoman of Crowborough Shield, a grassroots organisation formed to challenge home secretary Shabana Mahmood, claimed that the plans were “absurd” Highlighting potential risks for asylum seekers with PTSD living near a police firearms training centre and public shooting range, she said “It’s absurd what they are doing. Vulnerable men from war-torn countries, to Crowborough?She added that the men are “unvetted” and that the rural location could make it difficult for authorities to respond if crime occurs. The campaign has raised more than £12,000 to fund legal action against the Home Office.Wealden District Council, controlled by an alliance of Labour, Liberal Democrat, and Green councillors, criticised the Home Office for an “information vacuum” around the plans, which it said fuelled community tension and threats against local politicians. Crowborough, along with Cameron Barracks in Inverness, were the first military sites identified to accommodate a total of 900 asylum seekers, The Times reported.The Home Office said all residents will undergo mandatory security checks and that “as part of their induction process, clear expectations are set out to asylum seekers staying at the site about their expected behaviour while on and off the site.” Kerrie Knight, an organiser of the Pink Ladies campaign, told The Times the protests were “not about race or religion” but about “risk and safety” and “common sense.”

NEW DELHI: The Indian government, following the tragic bus accident near Medina in Saudi Arabia that reportedly killed 42 passengers, has released emergency helpline numbers to assist families. The Consulate General of India in Jeddah has activated a 24×7 control room, with the following contact details: 8002440003 (toll free), 0122614093, 0126614276, 0556122301 (WhatsApp).The crash occurred around 1.30 am IST on Monday when the bus, travelling from Mecca to Medina, collided with a diesel tanker. Many of the victims are believed to be from Hyderabad, including 20 women and 11 children. Most passengers were asleep at the time of the collision. Local residents rushed to help rescue teams, while Saudi authorities have yet to issue an official casualty count.

Also read| Medina-bound bus collides with diesel tanker; majority of pilgrims from HyderabadMany of the victims are believed to be from Hyderabad, including 20 women and 11 children. Most passengers were asleep when the collision occurred. Local residents reportedly rushed to help rescue teams, while Saudi authorities have yet to issue an official casualty count.Following the tragedy, the Telangana government set up a control room at the state Secretariat. Chief minister Revanth Reddy directed top officials to gather full details, coordinate with the Ministry of External Affairs and the Saudi Embassy, and extend immediate support to affected families. The CMO said chief secretary Ramakrishna Rao also alerted the Resident Commissioner in Delhi to collect information about passengers from Telangana.Also read|Mecca-Medina bus crash: What we know so farExternal affairs minister S Jaishankar said on X that he was “deeply shocked” by the incident and added that the Embassy in Riyadh and the Consulate in Jeddah were extending “fullest support” to affected Indian nationals. He offered condolences to the families of the deceased and wished a swift recovery to the injured.Hyderabad MP Asaduddin Owaisi was quoted by news agency ANI as saying that he had contacted two local travel agencies and forwarded passenger lists to the Indian Embassy in Riyadh. He also spoke with deputy chief of mission Abu Mathen George, who informed him that Saudi authorities were collecting further details.

MUMBAI: Deputy Chief Minister Ajit Pawar’s family-run trust has expressed interest in taking over operations of the 580-bed medical college at Govandi’s newly built Shatabdi Hospital, according to tender documents. The move comes even after opposition to public-private partnership projects from unions, residents, and health activists in the area.The hospital, constructed by the Brihanmumbai Municipal Corporation at an estimated cost of Rs 500 crore over five years in one of Mumbai’s poorest areas, received three expressions of interest. One of the parties was rejected for failing to meet technical requirements.

Terna Public Charitable Trust, headed by Padmasinh Patil, half-brother of Sunetra Pawar (wife of Ajit Pawar), and whose trustee is Pawar’s nephew and BJP Tuljapur MLA Ranajagjitsinha Patil, is one of the two parties that will now participate in the bidding process. A Telangana-based group, Surabhi Educational Society, which runs the Surabhi Institute of Medical Sciences in Siddipet, has also expressed interest in operating the Shatabdi Hospital campus. Of its 580 proposed beds, only 264 would be reserved for BMC patients, defined in the expression-of-interest documents as only those who are residents of Mumbai and MMR who hold yellow or orange ration cards issued by the Maharashtra govt, effectively excluding everyone else.The second facility, which incidentally falls in the same M-East Ward as Shatabdi and is also set for privatisation, is the 480-bed Lallubhai Compound Hospital. The hospital is surrounded by rehabilitated slum dwellers, and only about 150 beds would be set aside for BMC patients.Dr Abhay Shukla, part of Jan Swasthya Abhiyan, the health advocacy group which has been opposing PPP, said, “There is a clear conflict of interest. When such decisions are taken, abuse of power cannot be ruled out. Operating a medical college is profitable; it also helps increase political influence. There is no way to ensure accountability if they (Terna) are selected to run the hospital.”BMC Commissioner Bhushan Gagrani said, “Same rules and regulations will apply to Terna as other parties. It is open to all and they qualify to participate in the process.”The trust already operates a medical college in Navi Mumbai. “We tried a lot to find more private partners to run (Shatabdi Hospital) medical college, but there is very little interest shown. It is possible that up-front capital expenditure investment is one reason; medical colleges break even only after seven to eight years.”But many, like Dr Shukla, view such PPP models as the death knell to affordable healthcare in the first place. It is not an unreasonable fear. A study published in the Journal of Community System For Health in June mapped out 40 already existing public-private partnership projects between 2017 and 2023 in Pune and Mumbai. The data showed high disparity between PPP facilities rates versus the same rates at other public facilities, like the angioplasty rate in the PPP project was noted to be Rs 67,450 as opposed to the public hospital rate of Rs 3,500.“There is no denying there are issues with the current condition of public hospitals all across, but the solution is to address severe manpower problems,” said Dr Shukla.There have been several protests by locals in Govandi and Lallubhaui Compound, where these hospitals are based, but all have reached a dead end so far. “We are trying to make privatisation in health an issue based on which people will cast their vote in the upcoming elections. But political parties have shown little interest in taking it up,” said Shubham Kothari, with Aspatal Bachao, Nijikaran Hatao Andolan.Meanwhile, BMC has also received a sea of bids for their other hospital-based PPP projects for services like cardiology, blood banks, and radiology services. Some of the bidders have already worked with the BMC in the past; others have even had bad experiences. “This time around, there is no financial transaction with BMC. It is like they will provide the facility to us on rent, and we will provide concessional services to their patients,” said one of the bidders who runs one of the top hospitals in the city.

NEW DELHI: More than 40 Indian Umrah pilgrims are feared dead after a passenger bus collided with a diesel tanker in Saudi Arabia early Monday, according to initial reports from local sources. Many of the victims are believed to be from Hyderabad.

Meanwhile, Telangana Haj Committee said that, “42 pilgrims, lost their lives.”24×7 helpline number:8002440003 (Toll free), 0122614093, 0126614276, 0556122301 (WhatsApp)Also read |Indian pilgrims killed in Saudi bus crash: Owaisi requests govt to bring back bodies – What we know so far

Telangana chief minister Revanth Reddy said he was shocked to learn about the accident involving pilgrims from the state, with early information indicating that 42 people were on board the bus. He directed the chief secretary and director general of police to immediately gather complete details, including the number of passengers from Telangana.“He asked how many people lived in Telangana. He advised them to speak with officials from the Central Ministry of External Affairs and the Saudi Embassy. He ordered that, if necessary, they should immediately enter the field to provide appropriate relief efforts. With the CM’s orders, CS Ramakrishna Rao alerted the Resident Commissioner Gaurav Uppal, who is in Delhi. He ordered to collect details on how many people belonging to our state are in the accident and provide them immediately. A control room was set up in the Secretariat,” the CMO said.Also read | Mecca-Medina bus crash: Control room set up in Jeddah – here are the helpline numbers

The crash occurred around 1.30 am IST while the bus was travelling from Mecca to Medina. The pilgrims had completed their rituals in Mecca and were heading to Medina when the collision happened. Most passengers were reportedly asleep at the time. Preliminary information suggests the victims include 20 women and 11 children from Hyderabad.Local residents rushed to the spot to assist rescue teams. While Saudi authorities have yet to issue an official toll, on-ground sources said more than 40 people died on the spot. The bus is believed to have been carrying pilgrims from Hyderabad and other parts of Telangana.

The Telangana government has set up a control room at the state Secretariat to coordinate information and assist affected families. Officials have been instructed to remain in constant touch with the Ministry of External Affairs and Saudi authorities as the situation unfolds.Indian consulate in Jeddah opens 24×7 helplineIn view of the tragedy, the Consulate General of India in Jeddah has activated a 24×7 control room for assistance.Helpline number (toll free): 8002440003Asaduddin Owaisi says he contacted travel agencies, MEA officialsHyderabad MP Asaduddin Owaisi expressed grief over the incident. He told ANI that he had contacted two Hyderabad-based travel agencies and shared the list of passengers with the Indian Embassy in Riyadh. He also spoke to Abu Mathen George, deputy chief of Mission, who informed him that local authorities were gathering details and would update him soon.Meanwhile, EAM Jaishankar in a post on X said, “Deeply shocked at the accident involving Indian nationals in Medinah, Saudi Arabia. Our Embassy in Riyadh and Consulate in Jeddah are giving fullest support to Indian nationals and families affected by this accident. Sincere condolences to the bereaved families. Pray for the speedy recovery of those injured.”