Latest Stock Market News

"Natural gas and electricity prices have soared to new records, incentivising gas-to-oil https://www.reuters.com/article/iea-oil-idAFL8N2ZN2J8 switching in some countries," the Paris-based agency said in its monthly oil report, in which it raised its outlook for 2022 demand by 380,000 barrels per day (bpd).

The consolidated revenue from operations grew by 66.5 per cent to Rs 547.26 crore during the reported quarter from Rs 328.6 crore in the June 2021 quarter.Info Edge standalone revenue from recruitment solutions, including from acquired businesses Zwayam and DoSelect, grew by 73.3 per cent on a year-on-year basis to Rs 400.5 crore, the company said in a statement.

​The S&P 500 is up 2% on the week, and is on track for its longest weekly winning streak since November 2021. The Dow is up 2% for the week, while the Nasdaq Composite is 1.5% higher. For the Nasdaq, it is also the fourth positive week in a row.

Revenue from operations during the period under review stood at Rs 5,942 crore as against Rs 4,584.47 crore in the year-ago quarter, Apollo Tyres said in a regulatory filing.Total expenses were higher at Rs 5,714.17 crore as against Rs 4,462.63 crore in the corresponding quarter last fiscal year. Cost of materials consumed was higher at Rs 3,405.46 crore

The Nifty IT index was trading 0.81 per cent down at 29989.15.

"We have delivered a stable performance in this quarter on all parameters despite the pressures of commodity inflation and demand slowdown in the latter part of the quarter. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables," Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said.

“We have been adding names in the financial sector, domestic retail sector as well as the QSR story in the last six months or so. The only place where we are leveraged to global demand is perhaps on the chemical side. Some of the stocks are doing well on that front.”

The PBT was Rs 38.2 crore, up 31% over the same quarter, last fiscal. Despite inflationary pressures and ongoing geopolitical tensions resulting in surging commodity prices and supply chain constraints, the company continued its growth across the Hard Metals and Machine Tools segments.

“We are experimenting with a new model in matrimony business. The chat on the side is now free which was not the case earlier. This is helping us differentiate from the other players in the market. As a result, we are likely to sacrifice revenue for some time. In fact, the revenue billing growth this time in Jeevansathi was minus 30%. But that is part of the plan.”

"We believe that the group earnings may have peaked out for the near term, with our FY23E-FY24E estimates factoring in 1) moderation in NRL GRMs, 2) moderation in Brent crude price to US$90-95/bbl vs >US$110/bbl currently, and 3) net realisations capped at US$75/bbl thanks to the new additional duties imposed by the government," it said..