Latest Stock Market News

ITC reported a 6% growth in its consolidated net profit at Rs 5,335 crore for the quarter ended December. The same stood at Rs 5,006 crore in the year-ago period. The profit beat the ET Now Poll expectation of Rs 5,072 crore.

The trend of smallcaps and midcaps outperforming largecaps continues into the new year. A screener reveals 9 smallcap stocks with consistent buying from mutual funds and FIIs in the last four quarters of 2023. Notably, Electronics Mart India, Ion Exchange (India), Bharat Bijlee, Prism Johnson, Procter & Gamble Health, Five-Star Business Finance, Carborundum Universal, BASF India, and Hindware Home Innovation have all seen increased institutional investor interest. These stocks have shown significant growth over the past year and are expected to benefit from various factors, including strong demand and industry tailwinds.

Daljeet Singh Kohli expresses bullishness towards the upstream part of the oil and gas sector, particularly in terms of new discoveries and production by ONGC. Additionally, he also highlights the potential in the mid-tier transformer space and the diversification strategy of Amber Enterprises into the railway system for air conditioning.

A total of 8,782 shares changed hands on the counter till 10:30AM (IST).

Deepak Shenoy says: "We have got very little in financials, very little in IT. I think those are the two areas and almost nothing in pharma in our fundamental driven strategies. And at this point, I will wait for results to finally come in. Things do not look as exciting as they were in the October news time when we saw the September quarter results come in."

RR Kabel is the fifth-largest player in the branded wires and cables market in India, representing approximately 7% market share by value as of FY23 (vs. 5% in FY15).

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 556911.17 Crore) operating in Tobacco sector.

The stock quoted a 52-week high of Rs 615.55 and a 52-week low of Rs 380.95.

The initial public offering (IPO) of Addictive Learning Technology was subscribed 177.27 at the end of the final day as the issue received consolidated share bids of over 76.17 crore versus the issue size of 42.97 lakh shares.

Among them, about 20 stocks, including Zee Entertainment, FSN E-commerce, Restaurant Brand, GMM Pfaudler, Karnataka Bank, Prince Pipes and others, could give minimum returns of 10% over the next 12 months, according to Bloomberg consensus estimates.