Latest Stock Market News

Hindalco said its results were driven by better macros, robust performance of aluminium downstream and copper businesses along with better operating efficiencies.

However, Yes Securities also expects the power cost to remain elevated in H1FY23 and will continue to pose challenges, but gradual moderation is expected from H2FY23 onwards. Most of the new capacities for the sector will be commissioned in the Eastern region, hence cement prices & demand sustenance will be the key monitorable.

Credit Suisse has downgraded Delhivery to neutral post June quarter results with a target price of Rs 675. ICICI Securities has also downgraded the stock to sell from hold rating with a target price of Rs 484.

"As softer than expected US inflation data suggested a slower pace of rate hike, the global market encouraged optimism. US CPI inflation smoothened to 8.5% in July as lower energy prices offset increase in food and shelter cost. Domestic investors await the release of India’s inflation data due today, which is expected to show a decline in inflation trend on a MoM basis,” said Vinod Nair, Head of Research at Geojit Financial Services.

The recent fundraise provides for the management to vigorously focus on projects only without diverting attention to financial planning. The Bain Capital transaction is one of the largest investments received in a real estate company in North India in recent times.

The European insurance sector index was up 0.8% in early trading, and was among the top gainers. Zurich Insurance Group also added 1.3% as it reported a better-than-expected rise in operating profit in the first half.

The stock quoted a 52-week high price of Rs 442.95 and low of Rs 274.0.

“Any time I get ONGC below the Rs 125-130 mark, I look at it this way. The company has never really reduced its dividend. At that price, the dividend yield for the company is about 8%. So irrespective of whether the stock price appreciates or not, I am appreciating 8% every year on this. So any appreciation in stock price comes as a bonus to me. ”

A total of 1,028,148 shares changed hands on the counter till 02:11PM (IST)

Bharat Forge said the consolidated results are not comparable with those of the last fiscal due to its alignment of accounting periods of all the subsidiaries, associates and joint ventures for a better presentation of the operating performance of the group.