Latest Stock Market News

NXT Digital and Thaicom Public Company made a joint announcement of having signed a binding Memorandum of Understanding (MOU) to form a strategic partnership to enter the Broadband-over-satellite (BoS) market and related services in India.

The quarterly profit was on account of a rise in the recovery of loans which helped total income to grow and a sharp fall in expenditure. Total income stood at Rs 795 crore against Rs 595 crore while expenses fell to Rs 482 crore from Rs 3986 crore.

The price action for the last couple of sessions is developing as a Flag pattern on the hourly chart, said Gaurav Ratnaparkhi of Sharekhan, who believes the sideways action can continue in the range of 16,500-16,700, before the index prepares for the next leg up.

“The operating leverage is kicking in and as we get larger, the margin will only expand. It has no implication on capex whatsoever. We have very low capex and along with the IPO, we have Rs 2,600 crore odd from the last year plus the proceeds of the IPO. We are by far the best capitalised company in the space.”

The crypto industry and players cheered the update from the central official and are hopeful of some positive news from the government. Many expect that the government will ensure steps to support the ecosystem.

“The EBITDA per ton will definitely be maintained because of the input costs. The iron ore prices have come down, coking coal prices have come down, some of the other consumables prices have come down and all this will definitely add to overall EBITDA.”

“One of our favourite themes is domestic travel and tourism. What the last two year-three years’ trend has done is especially led by Covid, we are seeing people spending more rather than saving the entire upfront. Whether one looks at hotels, flights or other ancillary to travel and tourism, the outlook is very positive. The third is the auto sector. After three-five years, they are making new highs when the market is nowhere closer to new highs.”

Last hour-selling, lacklustre trend among Asian peers, surge in crude oil prices and inflation worries reigniting pace of monetary tightening also dented sentiments.

Ebitda margins improved to minus 47.2 per cent (minus 14.8 per cent excluding ESOP expenses) in the March quarter, a sequential improvement over minus 86.4 per cent (down 24.8 per cent excluding ESOP expenses) in the December quarter.

“If the government is taking steps to cool down inflation which affects their fiscal position and that leads to additional market borrowing, then unless RBI comes out with open market operations from the demand side to support the bond markets, the 300 bps premium gap will not come off. For RBI, the challenge is that on the one hand they are doing the CRR hike to control liquidity surplus and on the other hand they will do OMO purchases to increase liquidity.”