Latest Stock Market News

Promoters held 0.0 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 12.81 per cent and 7.04 per cent, respectively.

During the month, mutual funds bought Zomato 3.47 crore shares of the food delivery company. ICICI Prudential AMC doubled its holding in the stock. For Baroda BNP Paribas Mutual Fund, it was among the top new additions as the AMC bought Zomato stocks worth Rs 9.45 crore.

Price breakdown below last two months trading range and sustaining below 200 days EMA signalling continuation of the corrective bias in coming sessions.

The overall market sentiment remains that of caution to negative as rising inflation levels once again raises fears of more rate hikes going ahead, which could further deteriorate the economic health, said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities.

The brokerage retains BUY rating on the stock amid Royal Enfield (RE) driving premiumisation play in 2-W space with healthy double digit volume growth on anvil driven by new launches including affordable Hunter 350 & ongoing CV cyclical upswing.

The brokerage likes the growth story of Lumax Ind based on: its strong relationship with the majority of auto OEMs; healthy demand in the PV segment; recovery in 2W sales; upcycle in the CV segment; localization of electronic facility levers for margin expansion; addition of new clients and models; and strong order book with front loaded capex.

“The companies that deliver the numbers in the last leg of this season, are typically not that great. It is good that in a way the earnings season is getting over and without much of an issue. We would definitely be looking to buy into the names where the upgrades are there or the earnings have been good.”

SBI Mutual Fund: FSN E-Commerce, Steel Authority of India, GlaxosmithKline Pharmaceuticals, National Aluminium Co, Hindustan Aeronautics, Trent, L&T Finance Holdings, Bank of India, Motherson Sumi Wiring India Ltd, and United Spirits

Morgan Stanley maintained an equal-weight stance on the stock. “The company has gained market share post launch of Hunter. Margins and market share are likely to peak in 2023. Full benefits of commodity price decline and price hikes

The new energy ecosystem business revenue more than doubled to Rs 1,427.40 crore. The airports business also saw revenue doubling to Rs 1,733 crore. In the new energy vertical, the company saw solar modules volume increase by 63% to 430 MW. In the mining business, production volume stood at 6.2 million tonne.