Latest Stock Market News

Cryptocurrencies have fallen sharply in recent weeks. Bitcoin has lost more than 20% of its price so far in May, following a 17% drop in April, highlighting the risks faced by holders of the highly volatile assets.

Motilal Oswal has initiated coverage on the stock with a target of Rs 1,420 that suggests a 44 per cent potential upside. The brokerage has assigned an FY24 EV/Ebitda multiple of 27 times to the KFC business on account of its robust metrics including average daily sales (ADS) and brand contribution margin, and 17 times to the PH business.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 123203.52 Crore) operating in Metals - Ferrous sector.

A total of 55,047 shares changed hands on the counter till 12:33PM (IST)

Zomato zoomed close to 20 per cent, its biggest rise in a day since its listing in July last year, whereas Delhivery spiked close to 17 per cent to Rs 568.90 over its issue price of Rs 487 on Monday.

The stock has retested Rs 1,660-1,675 levels at least three times so far in 2022 on the weekly charts. Technical indicators signal a bullish move that could take the stock towards Rs 2,144 levels in a month which is closer to its 52-week high of Rs 2,252, suggest experts.

Industrials accounted for almost half (46 per cent) of the aggregate profit pool at Rs 5.2 lakh crore, which is the highest share in the past decade. The highest profit share of industrials on a TTM basis stood at 57 per cent between FY05 and FY06, the brokerage said.

The Nikkei share average ended 0.26% lower at 26,677.80, while the broader Topix dipped 0.09% to 1,876.58.The S&P 500 and the Nasdaq finished in the red overnight on worries that aggressive moves to curb decades-high inflation might tip the U.S. economy into recession

Gold futures on MCX were edged lower slightly by 0.14 per cent or Rs 74 to Rs 51,083 per 10 grams. However, silver futures were trading flat, marginally lower by 0.02 per cent or Rs 12 at Rs 61,964 per kg.

On Tata Motors, CLSA has maintained an outperform rating with a target price of Rs 480 as it believes that pricing to remain strong on high demand and lower incentives.