Latest Stock Market News

Motilal Oswal in its report also stated that almost all the relevant OEMs and auto component players indicated that chip supplies are improving, with full normalcy by mid-CY23. However, the major concern is the continued increase in working capital (due to inventory) which led to an increase in net debt in 2QFY23 for auto companies.

“We hereby inform that a meeting of the board of directors of the company is scheduled to be held on Wednesday, November 23, 2022, at 11:00 A.M through video conferencing, inter alia, to consider and approve the allotment of bonus equity shares,” the company said in a BSE filing.

"Financial markets are trying to find the balance between the room for further rate hikes versus the extent to which the U.S. and global economy will slow," said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management.

Market participants believe that new highs are on the cards. Analysts suggest that positions in select stocks can reward investors.

“If you look at the valuation of India, price to earnings or price to book terms is trading possibly at about 10% premium to its long-term average and still slightly lower than one standard deviation. So,it is expensive but not egregiously so compared to its own history. But compared to Asia ex Japan, the valuation premium of India looks relatively egregious.”

The majority of the analysts remain positive on the counter in the longer run suggesting investors to stay put as they see more steam left in the shares. However, a few suggested booking profits after the listing pop.

Short-term traders who missed the rally can look to buy the stock now or on dips for a possible target above Rs 500 in the next 3-4 weeks, suggest experts.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 266262.45 Crore).

HDFC Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

“Coming back to the new age tech story, it is a pretty long play. Near term, the challenges will remain. If we are looking at one or two quarters, then things look a little difficult. But if you look at a three-four year story, then it is a unique listed player, one we can look at and if we have a deep pockets, allocate it. We should look at Zomato for a four-five year play from here.”