Latest Stock Market News

Varun Beverages, one of the largest franchisees of PepsiCo, on Tuesday reported a 69% year-on-year (YoY) increase in consolidated profit after tax at Rs 429 crore for the quarter ended March 31, 2023.

The stock quoted a 52-week high of Rs 1028.75 and a 52-week low of Rs 656.1.

Speaking to news channels, Go First CEO Kaushik Khona clarified that the company has filed for a voluntary insolvency resolution process with the National Company Law Tribunal, and not for bankruptcy.

A total of 19,778 shares changed hands on the counter till time (IST).

Bajaj Finserv, incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 213978.83 Crore) operating in NBFC sector.

The Reserve Bank of India (RBI) "was at it again", a trader at a private sector bank said.Its difficult to figure out the logic on why RBI is present at current levels, "other than the usual of adding (fx) reserves and dampening volatility", the trader said.

NACL is well placed and the stock trades at 4.1x FY24E EV/EBITDA and appears to be fully priced in.

Cryptocurrencies saw a rise in trading ahead of the scheduled Federal Reserve interest rate decision. Bitcoin rose by almost 2% to $28,526 and Ethereum was above $1,850, while the global cryptocurrency market cap rose by 1% to $1.17tn. The volume of all stablecoins now represents 92.45% of the total cryptocurrency market over the last 24 hours. Speculators may be anticipating an announcement on interest rate hikes by the Federal Reserve, leading some experts to predict that ongoing banking crises and the US economic outlook may affect short-term price movements in Bitcoin.

The stock quoted a 52-week high price of Rs 1369.0 and a 52-week low of Rs 1049.1.

The Relative Strength Index of the stock stood at 53.57 on Wednesday.