Latest Stock Market News

Risk traders continue to tout India — the fastest-growing major economy — as a bright spot amid the volatility that has engulfed developing nations this year. As China’s growth-engine status weakens, investors are favoring places where growth is strong or the capacity to provide stimulus is high.

The stock quoted a 52-week high price of Rs 152.55 and a 52-week low of Rs 120.9.

Business cycles and markets are not linear - but like a wave - a bit like the sine curve! As Howard Marks says, “Cycles’ clout is heightened by the inability of the investors to remember the past.”

A total of 9,539 shares changed hands on the counter till 11:01AM (IST)

As of 30-Jun-2023, promoters held 38.05 per cent stake in the company, while FIIs held 31.54 per cent and domestic institutional investors had 10.34 per cent.

ICICI Securities said the board has also accepted the resignation of Ankit Sharma, Head – Compliance and Legal (within the category of senior management in the Company). The resignation will take effect from December 7, 2023.

“We have an internal rule that a single stock does not exceed 10% of the portfolio. Wherever stock holding has gone below 8% or 9%, we have booked profits. We are cautious on chemicals because we feel that in the next one, two quarters, there will still be some margin pressure which is very selective on the chemicals front. We are neutral on IT.”

The dollar index was little changed at 106.32, while Asian currencies were trading mixed.

The Nifty Pharma index was trading 0.7 per cent up at 15271.65.

The stock traded at a P/E multiple of 30.75, while the price-to-book value ratio stood at 0.0.