Latest Stock Market News

The crypto market has entered a more mature and stable phase since the beginning of this month with Bitcoin finding strong support at the $19,000 level, said Tarusha Mittal, COO, and Cofounder, UniFarm. Bitcoin is being deployed as a reserve currency around the globe amidst falling global fiat currencies and has emerged as a preferred choice of investors to beat inflation and safeguard the purchasing power of the money.

Promoters held 41.94 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 29.8 per cent and 12.6 per cent, respectively.

A total of 1,725 shares changed hands on the counter till 10:56AM (IST).

Emami Ltd., incorporated in the year 1983, is a Mid Cap company (having a market cap of Rs 20231.14 Crore) operating in FMCG sector.

"We expect the market to be volatile in the short run as it keeps reacting to the global news flows but creates substantial wealth over the next 2-5 years. While India might not be fully insulated from the pandemonium globally, but we believe that structurally, India is in a sweet spot. It is all set to deliver multi-year growth. In our opinion, one should look at short-term volatility and corrections as an opportunity to build positions in strong companies."

“I feel in terms of time, the pain may be there in the economy for a long time, but I do not think the pain in the market will last more than three, four months because we are in a digital era everything gets discounted so fast – whatever you are worried about.”

Bata India Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.

“UPL is a Nifty name and it has been down partly because of fears that their performance in Europe will be weak. However, the other geographies in which it operates look very strong including India. The stock trades at a very low valuation of about 9 times for a business of its size and a company of its size. The stock clearly offers sufficient upside over the next six to 12 months. ”

The stock has witnessed a sharp breakout from its 200-Day average with strong volumes after a double bottom formation near 195 levels. It should face some resistance at 270 and a crossover of the same would extend the up move to 310-320 levels over the next few months. RSI has pierced upwards on the weekly candle indicating the positive momentum to continue from current levels.

Apart from this, Anant Raj, Schaeffler India, GMDC, Heritage Foods, HFCL, JSW Ispat Special, Network18 Media, Praj, Sonata Software, Take Solutions, LKP Finance, Lloyds Metals & Energy, L&T Technology Services, PSP Projects, ICICI Lombard General Insurance, Shalby, Newgen Software, KPI Green Energy, Polycab India, KPIT Technologies and Gujarat Fluorochemicals are some of the companies that will announce their quarterly results today.