Latest Stock Market News

The average price realisation improved to Rs 9,650 per square feet, up 21.9 per cent from the corresponding quarter of last year.Achieved highest-ever quarterly sales volume of 1.47 million square feet, with an increase of 11.6 per cent compared to the previous year

For more such web stories click on the ET icon below

Sensex ends 452 points lower at 59,900, and Nifty slides 133 points to settle at 17,859

Operating margin for the three months ended December would shrink by 200 - 250 basis points, the fast-moving consumer goods company said, adding that its gross margin would improve sequentially due to a pick-up in demand in India towards the end of the quarter.

The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, data on Thursday showed.A separate report also revealed that private employment increased by 235,000 jobs last month, far exceeding expectations for a 150,000 increase.

"Wage hikes and income generation as such has been moderate, in the range of single digit hikes, which barely catches up with inflation. Now under this circumstance, onc cannot assume that consumers will have an unending availability of capital. Mid-6-7-8% growth rate for refrigerators, washing machines or even TVs would be my expectation for this year. "

"Allocation to duration, in a staggered fashion, would be ideal as the benchmark yield nears 7.45%. Also, duration exposure is best played through exposure to gilt," said Anand Nevatia, a fund manager with Trust Mutual Fund, which manages around 11 billion rupees of assets.

The likelihood that the U.S. Federal Reserve hikes rates more than what the market has priced in or rates remain higher for longer may also cause the rupee to depreciate significantly, said Siddharth Mathur, head of EM research, APAC at BNP Paribas.

Gold price fall was extended after stronger than expected US job market data allowed US Fed to continue with higher interest rate, said an analyst at HDFC Securities.

The stock traded at a P/E multiple of 8.65, while the price-to-book value ratio stood at 3.37.