Latest Stock Market News

"M&M continues to maintain the first position in SUV revenue market share, while FES strengthened its leadership position with 42.7 per cent tractor market share. With 2,73,000 bookings, the demand for the automotive product portfolio remains strong. Following the blockbuster launch of Scorpio-N, we are excited about the next phase with the unveil of our Born Electric Vision later this month," Executive Director Rajesh Jejurikar said.

Promoters held 59.4 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 25.16 per cent and 2.75 per cent, respectively.

The Nikkei share average hit 28,190.04, its highest since June 9, before closing up 0.87% at 28,175. The index extended gains to a third day and rose 0.87% for the week.The broader Topix index gained 0.85%.

London Stock Exchange Group gained 1.4% on saying costs and savings targets for integrating its $27 billion acquisition of data company Refinitiv remain unchanged and it was launching a 750 million pound ($910.65 million) share buy-back.

“The stance has really become defined in terms of the availability and the price liquidity. If the overnight rates are above or at the repo rate for a sustained period of time, then you move from accommodative to neutral and then it is higher, then it is restrictive. So the notion of stance in this current dispensation has changed.”

"Most market participants had shifted to expectations of a 35 bps move, but 50 bps and hawkish commentary on inflation have led to sharp paying interest across the curve," a trader with a private bank said.On Thursday, the one-year swap dipped to its lowest in three months, while the five-year swap crashed to a four-month low.

​​The Tata Group firm said its quarterly revenues were the second-best, buoyed by a strong festive demand in a near normal Ql that came after a gap of two Covid disrupted periods.

On the technical charts, the RSI of the stock stood at 66.68.

“In the current uncertain environment, nobody will talk about neutral. The current stance gives them the flexibility of raising rates in the next policy or doing nothing in the next policy. But if you go neutral, you are saying you can raise rates and also cut rates. I do not think there is any thought of cutting rates at this juncture.”

A total of 25,400 shares changed hands on the counter till 02:01PM (IST).