Latest Stock Market News

Britannia Industries reported a 47% YoY rise in consolidated net profit for Q4FY23, resulting in several brokerages being positive on the stock. Foreign brokerage JP Morgan has maintained a neutral rating while Morgan Stanley remained a buyer with a target of Rs 5,300. Domestic brokerage houses PhillipCapital and Sharekhan have retained a buy on the counter. However, HDFC Securities has given a reduce on the stock. Challenges of low volume growth and volatility in raw materials are likely to continue, it said.

Vishal Khandelwal says people who can think well, independently without the help of artificial intelligence, are set to perform well over the long term. He urged individuals to invest wisely outside the stock market and then hold onto those good investments for an extended period of time in order to create adequate wealth for themselves over the next two decades. Khandelwal said investing would become tougher going forward as people become smarter and wiser, with luck playing an increasingly important role.

​So I would just like to wait for more consistent numbers, industry outperformance before I look at Tech Mahindra again. As I said, right now, the focus is on a lot of the midcap IT stocks.

Promoters held 51.46 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 12.35 per cent and 3.68 per cent, respectively.

The Relative Strength Index of the stock stood at 53.21 on Monday.

The Nifty Auto index was trading 1.56 per cent up at 13554.0.

A total of 7,232 shares changed hands on the counter till 11:43AM (IST).

Earnings rating is calculated based on three factors - earnings surprises, estimate revisions and recommendation changes.

Weekly charts have formed an inverted hammerformation after five weeks of bullish closing.

VIX has been near a record low, silently boosting traders’ confidence, and has risen over 17% over the week, but it is not yet at a level that points to an outright collapse.