Latest Stock Market News

Nearly 53% of NRI investors surveyed claimed that India provides better returns on investments than other countries in which they have invested, found a study by NRI-focused fintech platform SBNRI. The report also revealed 35% of Singapore-based and UK-based NRIs prefer to exclusively invest in India compared to other countries. However, challenges such as regulatory approvals, restrictive foreign investment regulations, repatriation of funds, and currency risks are prevalent while investing in India. To mitigate these risks, 30% of UK-based NRIs invest in Indian stocks or funds denominated in home currency, while 27% hedge through forward contracts or currency options.

The stock traded at a P/E multiple of 63.16, while the price-to-book value ratio stood at 3.37.

Our focus has been in FY23 to complete our commitments as much as we have scheduled to, so that the conversations around what compensations to be made to the contractor can happen at the backend of the contract.

A bulk of companies are scheduled to announce their Q4 earnings on Friday, May 12, including Tata Motors, Vedanta and Cipla.

A total of 33,832 shares changed hands on the counter till time (IST).

​Looking forward or more on a medium term basis, our estimation is that average industrial capex per annum will rise to around 5.7 lakh crores over the next five years, this itself will be around 1.5 times the increase on an annual basis.

Emirates airline, which along with airport services business dnata makes up Emirates Group, made a $2.9 billion profit. The state-owned carrier had posted an annual loss of $1.1 billion for 2021-22, following a $5.5 billion loss the year before that.

Foreign investors have been buying Indian stocks since April 26, with net flows totaling around $3.3bn. The average buying in the last nine trading sessions has amounted to $462m, and foreign direct investment (FDI) has been boosted by Indian rupee strength against the dollar and in-line March quarter earnings.

Railtel has shown improvement in trend by surpassing the significant 200DMA and 50EMA levels, with a positive bullish candle pattern in the daily chart. The RSI is also on the rise, indicating further upside potential. Railtel reported a consolidated total income of Rs 462.17 crore in the quarter ended 31-12-2022.

The Relative Strength Index of the stock stood at 72.68 on Thursday.