Latest Stock Market News

Indian Hotels’ shares rose by over 3% after the firm reported better-than-expected Q4 results. The hotel chain operator posted a net profit of INR3.28bn ($44m), up 343% YoY, with revenue growing 86% YoY to INR16.25bn. The company’s year-on-year revenue was a record INR59.49bn, with Motilal Oswal raising its FY24/FY25 EBITDA estimates by 5%/3% as a result of better-than-expected ARR and addition of new leased hotels. Jefferies and Motilal Oswal maintained their respective Buy ratings on the stock.

Sebi found that Future Corporate Resources Pvt Ltd (FCRL) along with 14 entities failed to make a public announcement of an open offer following the increase in the shareholding of FCRL in Praxis.

Semiconductor shortage led to Maruti Suzuki India losing about 170,000 units last year, with Q4 bearing the brunt of the losses at 38,000, followed by Q3 with 46,000. While the problem persisted in April, the firm is hopeful of the situation improving from Q2, although it has limited visibility on chip component availability. Small car sales, although down due to affordability in recent years, grew by 20% in 2020, representing 34% of the overall market segment. Demand-supply gap will determine car discount levels in the face of limited chip availabilities.

The stock traded at a P/E multiple of 51.47, while the price-to-book value ratio stood at 19.41.

The state-run banks have been consistently on the bid since morning and it is "difficult to put it down to anything" other than the RBI, another trader said.

Any large inorganic deal focusing on enhancing shareholders’ value will be a key trigger for valuations to improve in the near term.

A total of 76,399 shares changed hands on the counter till time (IST).

On the technical charts, the RSI of the stock stood at 64.21.

Bajaj Finance, incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 380215.61 Crore) operating in NBFC sector.

​Before kickstarting your investment journey, here are four key differences that you must know.