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Analysts bullish on ICICI Bank after strong Q4

Updated at : 2023-04-25 07:35:05

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Shares of ICICI Bank rose over 2.2% to close at ₹905.30 a piece on the NSE on Monday. The stock touched a four-month high of ₹906.50 intraday. The stock has gained nearly 7% in the last month.

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The development comes after the UK regulator was said to have shown flexibility regarding earlier hurdles posed by requirements for inspection and audit of the Indian clearing house.

Benchmark yield slips to 7-month low

Updated at : 2023-04-25 06:25:03

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On Monday, yield on the 10-year benchmark government bond eased 6 basis points to settle at 7.10%, the lowest closing level for the benchmark yield since September 13. The yield on the most liquid bond in the secondary market also slid to its lowest levels since September, registering a fall of five basis points.

Adani Ports starts $130-m buyback of debt securities

Updated at : 2023-04-25 06:25:03

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The Adani Group company said in an exchange filing that it has commenced a tender offer to purchase up to $130 million worth of outstanding 3.375% senior notes due 2024. The transaction will be funded from cash reserves.

Analysts hold mixed views on RIL after a record Q4

Updated at : 2023-04-25 06:25:03

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Shares of the oil-to-telecom conglomerate advanced for the second day in a row on Monday to settle at ₹2,360.5 apiece on the NSE, up 0.5% from the previous close.

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​​The anchor allocation was done at Rs 1,080 per share, under which Goldman Sachs, Canada Pension Plan, Government of Singapore, and Fidelity Investment Trust, among others, have participated.

FMCG sector revenue growth is expected to be in the mid-teens for FY23, mainly supported by price growth as the companies had taken price hikes to compensate for the elevated input prices while volumes were weak.Margins were impacted but started to showcase some improvement in the second half of FY23 due to a decline in input prices. However, analysts see margins improving in the coming quarters with inflation coming down

The fourth quarter net interest margin, a key profitability ratio, improved to 3.78% from 3.17% in the year ago period. Improvement in asset quality helped the margin.

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Additionally, the company may consider a further issue of specified securities through a private placement aggregating up to Rs 1200 crore. If such placement is completed, the fresh issue size will be reduced.

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