Latest Stock Market News

When asked whether the market is already factoring in all the bad news, Arora said he is 90% invested. "The thing is that in the long run, wars also do not matter. If you look at the World Wars, the Iraq war and others and look at it on a chart right now, the war does not matter

“FII selling is generally across the board. It is not coming and selling a specific sector. They are selling India and to that extent, we believe in good quality financial services banking stocks at reasonable valuations and that is what we are accumulating. Keep faith in equities because when the bounceback comes, it will help you with the gains.”

The Relative Strength Index of the stock stood at 38.72 on Wednesday.

“Being a good innovator in the generic world is one part of our business. It is the bulk of our business and needs to do that but we have opened up to the fact that MRNA is going to be a very significant part of how the world is going to innovate in future. We believe that some of the other therapies out there based on antibodies are equally important and we are focussing on those as well.”

The brokerage models revenue/EBITDA/PAT CAGR of 9%/24%/35% over FY22-24E. It initiates coverage on the stock with HOLD rating and SoTP-based TP of Rs 550.

​​Singapore GRM has been at a record high of USD22.6/bbl in May’22 from a loss of USD1.5/bbl in May’20 (during the COVID-19 pandemic). It stood atUSD2.1/USD18.6 per bbl in May’21/Apr’22. However, OMCs are estimated to be generating losses of INR8.8/INR12.9 per liter on petrol/diesel at prevailing benchmark prices.

​New sales bookings rose 158% YoY to INR27b (v/s our estimate ofINR23.5b) in 4QFY22, led by sustained momentum in the ultra-luxury Camellias project and strong response to its new product launches, including independent floors and luxury project – ‘One Midtown’.

​Revenue rose 17% YoY to INR14b (est. INR13.3b) in 4QFY22. Exports (CSM business) grew 11% YoY to INR11.1 b and the domestic business grew 47% YoY to INR2.8b in 4QFY22.

A total of 1,872,867 shares changed hands on the counter till 01:23PM (IST)

Overseas investors disposed a combined net total of $2.35 billion in South Korea, Thai, Indian, Indonesian and Malaysian bonds last month, data from regulatory authorities and bond market associations showed. It was the second consecutive monthly selling by foreigners in Asian bonds, according to the data.