Latest Stock Market News

​Tata Starbucks has reported a net loss of Rs 24.97 crore from its operations in India for the financial year ended March 31, 2023, according to financial data accessed through business intelligence platform Tofler.

The stock traded at a P/E multiple of 47.75, while the price-to-book value ratio stood at 7.01.

Saurabh Mukherjea-run Marcellus Investment’s “Consistent Compounders” is another largecap strategy that gave positive returns last month, but underperformed its benchmark. The strategy gave nearly 6% returns.

Brokerage firm Prabhudas Lilladher has listed 8 largecap stocks, including HDFC Bank, ICICI Bank, and Reliance Industries that could rally up to 31%.

Sundararaman Ramamurthy says: “If you look at the profile of these people who have got registered in the last three-four years, while Maharashtra and Delhi may be a bigger state contributing to the pie, the growth is not contributed by these states. It is being contributed by Uttar Pradesh, Chhattisgarh, Bihar, Punjab, MP and Rajasthan. Cities like Agra, Varanasi and Indore that are contributing more.”

The issue is entirely a fresh equity issue of up to 52 lakh equity shares, aggregating to Rs 28.08 crore and the company is offering its shares at Rs 51-54 apiece, investors can bid for 2,000 shares in a single lot.

HDFC AMC Q3 Results: The consolidated revenue from operations stood at Rs 671 crore, up 20% from Rs 560 crore reported in the year-ago period. On a sequential basis, the profit after tax was nearly 12% higher compared to Rs 436 crore in Q2FY24.

Osho Krishna says: Reliance has formed a drastic breakout, hovering at its 52-week high. A V-shape recovery on the weekly chart led to a fresh breakout in the yesterday trading session. Hold positions with a strong support at Rs 2,580 and a short-term stop loss of Rs 2580. Investors should accumulate for medium to long-term, with an immediate target of Rs 2,720. Polycab has seen a breakdown below the 200-day SMA, stay on the sidelines until consolidation or accumulate at Rs 3,600 or around Rs 4,200.

Paving the way for inflow of billions of dollars in cryptocurrency, the US has approved 11 Bitcoin spot ETFs. For Indian investors, the Bitcoin ETF will provide an opportunity to include crypto in their portfolio via the LRS route.