Latest Stock Market News

Fitch also expects OMCs to incur large marketing losses in FY23 with continuing negative marketing margins as we expect crude oil prices to remain elevated until geopolitical tensions ease while rising inflationary pressure would prevent the OMCs from increasing fuel prices in the near term.

The domestic brokerage listed 13 stocks to play the multi-year theme. Financials - ICICI Bank and Axis Bank, capital goods/infra - L&T, Siemens, Cummins, and GR Infra and capacity expansion-led volume growth - UltraTech, Dalmia Bharat, Navin Fluorine, Aarti Industries, NTPC, Phoenix Mills, and Havells India.

The stock traded at a P/E multiple of 3.56, while the price-to-book value ratio stood at 0.82.

“People think the central banks are going to calm down now. We have optimism and so we are probably going to have a rally for a while. I have not sold anything. I am waiting for this big rally. Now it looks like inflation and pessimism is breaking, but just remember, this is probably the last rally.”

As of 30-Jun-2022, promoters held 48.03 per cent stake in the company, while FIIs held 25.0 per cent and domestic institutional investors had 13.48 per cent.

"Well since then, the debt has skyrocketed everywhere. So the next bear market has to be the worst in my lifetime," the author of Street Smarts: Adventures on the Road and in the Markets told ET NOW in an interview.Rogers said he was stating a simple fact because gigantic debt has built up around the world and even China has debt now, which was not the case in 2008.

The stock quoted a 52-week high of Rs 2379.0 and a 52-week low of Rs 1513.3.

A total of 10,302 shares changed hands on the counter till 01:35PM (IST).

Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6724.10 Crore) operating in Real Estate sector.

“The stocks to own for next three years include SBI among the PSU banks. This quarter was soft, but going forward, it should be better off. Among midcap IT companies, the L&T twins could be second preference. The third stock to own would be from mid-sized cement players. In that space, Birla Corp is in top form.”