Latest Stock Market News

Dow rises 161 points, S&P opens higher by 28.34 points and Nasdaq Composite gains 150 points at the opening bell

Satin Creditcare Network, a microfinance lender, has reported a 43% year-on-year surge in standalone net profit of INR 86 crore ($11.5m) for the quarter ending in June this year. Its performance was the best it had recorded in the first quarter over the past five years. Its on-book gross non-performing

The 52-week high is a crucial technical indicator for some traders and investors.

​ Stocks including Reliance Industries, SBI, JSW Steel and HDFC Life Insurance Company reported the highest short coverings within their sectors​

The Nifty index formed an indecisive Doji candle after finishing the week with a small loss of 14 points, reflecting a downward trend in the short-term. HDFC Securities suggested any potential upside may encounter strong resistance at the 19,750-19,800 range, the next crucial lower supports level is expected around 19,500-19,450.

The latest developments at Gift City have been around the regulations for the formation and functioning of Family Investment Funds (FIFs). While UHNI families have been setting up family office structures in countries like Dubai, London, and Singapore, the FIF structure at Gift City helps set up a self-managed fund that can pool monies

LT Foods, the consumer food company, witnessed a 44% rise in consolidated net profit to INR 137.44 crore ($18.5m) in Q1 FY2022 due to better margins. The total income in the June quarter reached INR 1,778.07 crore, up from INR 1,611.10 crore in the year-ago period, while expenses increased to INR 1,621.91 crore from INR 1,490.52 crore.

HT Media Ltd reported a consolidated net loss of INR 18.98 crore during Q1 FY2023-24, a decrease from INR 41.80 crore loss in the same period a year earlier. However, its revenue from operations declined by 6.34% to INR 393.42 crore in Q1 year-over-year. The company’s expenses, however, decreased by 6.16%.

Infosys revised its FY24 revenue guidance from its earlier estimate of 4-7% constant currency growth to 1-3.5%. A key driver for the lower revenue guidance has been the slowdown in the global BFSI sector​

Consumer goods company, Colgate-Palmolive, has raised its annual forecast for organic sales and profits, citing resilient demand for its pet products and self-care. The company increased its prices to tackle wage pressures and steep costs of raw materials and packaging.