Latest Stock Market News

Data showed that MFs bought banking and financial stocks such as Kotak Mahindra Bank, ICICI Bank, HDFC, oil & gas scrips like ONGC, Reliance Industries and GAIL and cement counters such as UltraTech Cement and Ambuja Cements in the last month.

“In Q4, FPIs have increased their stake in ITC from 9.99% by 200 bps further. That clearly shows that ITC is seeing more demand from more well informed investors. This year, ITC has outperformed all kinds of indices. Nifty has given hardly 2.5% return and ITC has given almost 23% return.”

OfBusiness, a startup founded by entrepreneurs Ruchi Kalra and Asish Mohapatra to help Indian enterprises buy bulk raw materials, could file initial listing documents around October, people familiar with the matter said.

“We have 200 million doses of Covishield lying with us and it is available for boosters. It is available for exports and we are slowly moving that out but bringing the gap from nine months to six months will definitely help hospitals and other clinics to administer the doses faster for boosters as we have got new mutant variants coming.”

Revenue for the quarter rose 15.75 per cent YoY to Rs 50,591 crore from Rs 43,705 crore in the year-ago quarter.

Largest tokens such as Bitcoin and Ethereum have dropped about 5 per cent in the last 24 hours, extending their weekly slide to 15 per cent each. Altcoins among the 15 largest crypto tokens such as Solana, Terra, Avalanche, Polkadot and XRP have tumbled up to 9 per cent in the last 24 hours, registering a weekly fall of up to 30 per cent.

“It is time to book some profits in aluminum, but for steel, while the margins had dropped quite significantly, now probably they are a little bit on the mend. So steel is still well supported and valuations are not too expensive either. So, one can continue to hold steel but overall as a metal complex, the medium term outflow has deteriorated from what it was pre war.”

“The capital markets on the secondary side which is on the block and QIPs have started to pick up,” Amit Thawani, head of India coverage investment banking at Nomura, said in an interview with Bloomberg Television on Tuesday. “We expect a constructive environment especially in the second half of the year for IPOs.”

The newfound stability of the currency could be a sign of the economy getting stronger and more balanced. Our external sector is now much stronger than before and is able to take shock of sudden oil price increases much better.

“The aggregate market and Nifty earnings might not see massive downgrades because of the composition of the index. Banking and financial space, IT services, the oil and gas pack and telecom make up nearly two-thirds of the index. I do not see any significant downgrade there. Metals may see a little upgrade. So, significant downgrade in frontline Nifty earnings is unlikely.”