Latest Stock Market News

The Nifty Realty index closed 0.98 per cent down at 434.25.

For more such web stories click on the ET icon below

"We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of Rs 8 per equity share of Re 1 each of the company," TCS said in an exchange filing while announcing its quarterly results.

"Paper companies will show very good earnings and we believe FY23 will be a great year for them. We should see record earnings in most of the names, which we have not seen earlier."

The overall structure shows that the index is likely to witness consolidation in the range of 17,000-17,500 in the coming sessions. Indicators such as RSI and MACD are indicating neutral views as of now in the daily chart.Options data suggests a broader trading range between 16,800 to 17,700 zones while an immediate trading range is between 17,000 to 17,500 zones, said Chandan Taparia of Motilal Oswal.

Also, the company plans to use Rs 149.30 crore towards investment in its arm Kaynes Electronics Manufacturing Pvt Ltd for setting up a new facility at Chamarajanagar in Karnataka. It will use up to Rs 114.74 crore for funding working capital requirement and general corporate proposes.

Rupee has weakened over 11% so far this year, with the central bank defending the rupee via dollar sales that have depleted its forex reserves to the lowest level in over two years.

The Nifty Realty index was trading 0.8 per cent down at 435.05.

On the technical charts, the 200-day moving average of the stock stood at Rs 1221.33.

The company continued a strong share of 4G net ads in the market as the customer base grew by 4.5 million QoQ to reach 195.5 million (This forms 63% of the overall customer base now). In the Homes Business, the company witnessed strong customer addition of 1.4 million in Q1FY23, the brokerage said.