Latest Stock Market News

RBI’s economic research wing headed by deputy governor Michael Debabrata Patra argued that the sequential slowing down in successive quarters of 2022-23 is due to base effect. As for the data, India’s gross domestic product (GDP) for the October-December quarter moderated to a three-quarter low of 4.4%, according to data released by the ministry of statistics earlier in the month.

Franklin Templeton Fund picked up about 0.5% stake in Devyani International through a block deal on Tuesday, while Temasek offloaded nearly 3% stake in the company.

According to analysts, Vedanta Ltd, which has a 64.92% stake in Hindustan Zinc, will receive Rs 7,132 crore as its share of the latest dividend payout. If the entire amount is redistributed to shareholders of Vedanta Ltd, Vedanta Resources will get Rs 4,970 crore. These numbers exclude dividend taxes. Vedanta Resources has 69.68% in Vedanta Ltd.

The tenure of the loan is 25 months, in the first 13 months of which the company will pay a fixed 8.95% interest. For the rest of the 12 months the loan will be linked to the one-year overnight indexed swaps (OIS), but the interest rate option bought by the company will allow it to cap its interest beyond a level, which will be borne by the bank.

Another important element of this week’s meeting: Policymakers are set to issue updated rate projections for the first time since December, offering crucial guidance on whether they still expect any additional hikes this year.

The still brittle mood was evident in the latest BofA survey of global fund managers which found pessimism near its worst in the past 20 years amid fears of financial risk and a flight from bank stocks.

Catril said the Fed faces a difficult choice given a strong labour market alongside February inflation figures that were higher than many market watchers expected. Such circumstances would usually be ripe for a return to a 50 basis point hike were it not for worries over financial stability, he said.

While the market expects the Fed to raise rates by 25 basis points on Wednesday, some top central bank watchers say it could well pause further rate hikes or delay releasing new economic projections due to ructions in the global banking sector.

Sula Vineyards is well placed to benefit from the consumer shift to low-alcohol beverages — beer and wine. Expected to see highest revenue & EP) compounded growth over FY22-25 vs alcohol companies. Change in wine incentive schemes poses a key regulatory risk for the company.

Gold is traditionally considered a hedge against inflation, but higher rates increase the opportunity cost of holding the non-yielding asset. The dollar index was down slightly, making bullion less expensive for buyers holding other currencies.