Latest Stock Market News

BofA said annualised returns so far in 2022 on portfolios like these are the worst in the past 100 years, while those on "25/25/25/25" portfolios that hold equal portions of cash, commodities, stocks and bonds have dropped 11.9%, the worst sinced 2008.

“Among largecaps, Bhanushali has 5 top bets. These are ICICI Bank, SBI, Cipla, Reliance Industries and Ashok Leyland. Among midcaps, there are 3 chemical stocks – Deepak Fertiliser, Deepak Nitrite and JB Chemicals. Aptus Home Value is the smallcap in the portfolio where the brokerage is seeing a 32% CAGR growth in their loan books.”

Brokerage maintained ‘neutral’ rating on Mindtree due to its fair valuations , softness in retail and constraints on management bandwidth because of its impending merger with L&T Infotech

Globally, the focus remained firmly on how high and how fast U.S. interest rates are likely to go. The higher-than-expected U.S. inflation data on Thursday makes it almost certain that the U.S. central bank will raise rates by 75 bps again next month.

Majority of brokerages expect the company to report a revenue close to Rs 10,400 crore, rising on both yearly and sequential basis

For more such web stories click on the ET icon below

In afternoon deals, the scrip was trading 5 per cent higher at Rs 131 over its previous day’s closing price of Rs 125 apiece

“The margin story is not one quarter story. If you look at our margin story this is the eighth consecutive quarter where we have done a 20% plus EBITDA and it is a discipline that you bring in and fortunately for us, we had set the discipline right upfront where this entire management change happened and that is what has helped us in terms of retaining the margin.”

The Nifty Bank index closed 1.76 per cent up at 39305.6.

The company board has approved to issue 1,01,00,070 warrants at a price of Rs 183.30 aggregating up to Rs 185.13 crore to its various shareholders.