Latest Stock Market News

A total of 270,700 shares changed hands on the counter till 10:50AM (IST)

The Relative Strength Index of the stock stood at 55.05 on Monday.

The yen fell to a two-decade low of 126.795 in early Asian trading, before both Bank of Japan Governor Haruhiko Kuroda and Finance Minister Shunichi Suzuki voiced concerns and caused it to bounce as far as 126.25. But the rally proved short-lived and it was soon back around 126.57.

Edelweiss has a target of Rs 450 on ITC as it expects the change in ESG-related investment philosophy and EPS CAGR of 12 per cent to lead multiple re-ratings for the stock from 16 times currently to 30 times for FY24E earnings.

From a fundamental perspective, Poonawalla Fincorp stock looks overvalued as the ROE is negative 20 per cent and no significant growth in revenue is visible in the last few quarters.

NTPC Ltd. key Products/Revenue Segments include Generation Of Electricity, Consultancy Income, Other Operating Revenue, Lease Rentals and Coal for the year ending 31-Mar-2021.

"Today, the general perception of investors is that equity as an asset class is less risky than debt without knowing the fundamentals properly...We believe generating returns in an interest rate upward movement and inflationary condition is not going to be easy. A fair bit of bottom-up research is needed to find the winners.

Barring Solana and USD Coin, all other crypto tokens were trading lower on Monday. XRP, Cardano, Terra, Dogecoin and Shiba Inu shed 2 per cent each, whereas Ethereum and Bitcoin retreated about a per cent each.

The Nifty50 was trading at 17,204.70, down 270.95 points or 1.55 per cent. Midcap and smallcap indices fared better, falling up to 1 per cent each.

Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 7150.99 Crore) operating in Financial Services sector.