Latest Stock Market News

We aim to achieve a 25% year-on-year rise in net profit every quarter this fiscal," managing director Partha Pratim Sengupta said."There is no negative impact on lending growth after the 40 basis points rise in repo rate," he said. RBI reversed its easy rate cycle in an off-cycle monetary policy meeting earlier this month reacting to the sharp rise in inflation.

In the previous trade, the precious metal finished at Rs 50,307 per 10 grams.Silver dipped by Rs 49 to Rs 60,920 per kg from Rs 60,969 per kg in the previous trade.

The 30-share pack Sensex fell 109.94 points or 0.20 per cent to close at 54,208.53. The index fell nearly 1 per cent from the day’s high. Its broader peer NSE Nifty also gave up gains to settle below the 16,250 mark.

Data shows that the profit of 27 of the Nifty 50 companies, which have announced their results so far, have risen 21.38 per cent in March 2022 from the same period a year ago. An analysis by domestic brokerage ICICI Securities said that the number of companies beating Street estimates in the ongoing March quarter earnings season from the NSE200 pack is higher than those who missed them.

“Typically about 4% to 5% of our revenue is spent in our capex items. It is more so on the engineering and technology front and increasing the capacity. Like last year, we would work on investing in new technology and products to become a system solutions provider in all the product lines that we are working on and making them smarter and more advanced and futuristic.”

"The pace of tightening and speed of normalization of supply chains will decide the future trajectory of inflation. However, for an economy like India with several organic growth levers and stable macroeconomic situation, we believe moderate increase in interest costs may not be a material headwind to the growth trajectory in the medium term."

After Tuesday’s strong move, said Mazhar Mohammad of Chartviewindia.in, such a minor weakness can be considered as an opportunity to create fresh long positions as near term trends may remain positively biased in favour of the bulls. This is as long as the index sustains above the 15,900 level, he said.

A 100% buyout allows all shareholders to exit at a price which is usually higher than the market price. The argument that a reverse book building ensures better price realisation for the public shareholders is not necessarily based on sound logic in this context.

Fortescue jumped 2% after saying billionaire Andrew Forest would takeover the role of executive chairman to oversee its iron ore business for an interim period when Chief Executive Elizabeth Gaines leaves in August.

Typically, a weaker rupee does not bode well for domestic equity or debt markets as foreign portfolio investors’ returns from Indian assets reduce, prompting them to exit such investments. Moreover, with Indians being heavily dependent on imports of certain dollar-denominated commodities such as crude oil, a weaker rupee widens the Current Account Deficit and presents the risk of imported inflation.