Latest Stock Market News

Demand from corporate travel remains robust and it continues to be the highest contributor to room nights sold. The contribution of the retail segment has also grown significantly. Going ahead, the management sees a significant improvement in consumer sentiment and expects Leisure and corporate travel to continue gaining traction.

“We believe, there is a downside risk to FY24 consensus earnings and a very limited scope of valuation upside. This will keep the upside for the index capped and at the best, it will move in line with the earnings growth,” HDFC Securities said.

Grasim Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 119500.37 Crore) operating in Diversified sector.

Chinese billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical Group is the controlling shareholder of listed generic injectables maker Gland, with 57.86% stake. The buyout will trigger an open offer for an additional 26% of the company.

The U.S. dollar has been supported by high and rising interest rate expectations as the Fed has hiked its benchmark funds rate to counter inflation, leaving the currency vulnerable to selling if inflation seems to be cooling.

The S&P 500 has moved an average of around 3% in either direction over the past six CPI releases, including a 5.5% jump on Nov. 10, when inflation data came in weaker than expected. That compares with an average daily move of about 1.2% over the same period.

Keystone has remained shut since a 14,000-barrel leak in the U.S. state of Kansas reported on Dec. 7. TC Energy has not released a timeline for a restart of the line, which carries crude to refineries in the Midwest and Gulf Coast.

The homegrown auto major Tata Motors said it would explore the possibility of partial divestment of its holding in subsidiary Tata Technologies Ltd through an initial public offering route.

Consumer inflation data will be closely monitored on Tuesday, and is expected to show prices increased by 7.3% in November on an annual basis, slowing from the 7.7% rise in the previous month, while the "core" reading which excludes food and energy is expected to show a 6.1% increase from the 6.3% in the prior month.

The report pointed out that banks like IDFC First and Bandhan have strongly outpaced their larger peers in deposit growth year on year which has allowed them to improve their current and savings account (CASA) deposit ratio and competition for deposits could aggravate in case credit demand for long term capex picks up.