Latest Stock Market News

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 438073.46 Crore) operating in NBFC sector.

In the spot market, the highest purity gold was sold at Rs 51,668 per 10 grams while silver was priced at Rs 58,379 per kg on Monday, according to the Indian Bullion and Jewellers Association.

BofA Securities maintained its buy rating on the stock with a target price of Rs 82. It said that Zomato had a stable quarter despite headwinds but the overhang from the lock-up expiry remains. "Q1FY23 revenue/EBITDA was better than expectations and adjusted EBITDA was breakeven in the food delivery segment with the focus on cost control clearly visible. The Zomato-Blinkit deal remains on track," it said.

Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 271630.39 Crore) operating in Auto sector.

The company reported a 36.51 per cent increase in its consolidated net profit to Rs 152.05 crore for the first quarter ended June 30, 2022. It had posted a net profit of Rs 111.38 crore in the April-June period a year ago.

The stock traded at a P/E multiple of 22.03, while the price-to-book value ratio stood at 1.47.

A total of 100,088 shares changed hands on the counter till 12:33PM (IST).

The dollar continued its decline, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.

After the steep rally, the stock is now trading near the overbought zone and a pullback could be in the offing. It is trading above all the crucial short and long-term moving averages of 5,10,20,30,50,100 and 200-DMA. The Relative Strength Index (RSI) is at 75.7. RSI above 70 is considered overbought. This implies that stock may show pullback, Trendlyne data showed. MACD is above its centre and signal Line, which is a bullish indicator.

However, road transporters will be required for first and last-mile operations. The impact will be visible in bulk commodities like steel, cement, and coal. Segments like FMCG, Consumer, and Pharma may not see a very large shift towards rail.