Latest Stock Market News

This stock has broken out of its falling trend line placed at Rs 188 levels with a strong quarterly close above it. It can be seen on the quarterly charts that the stock post hitting the levels of 216 corrected back to its major support placed at Rs 80 levels in March 2020 quarter, Sujit Deodhar, Head - Technical Analyst, Wellworth Share & Stock Broking.

As of 30-Jun-2022, promoters held 46.82 per cent stake in the company, while FIIs held 14.27 per cent and domestic institutional investors had 15.86 per cent.

While the deal momentum is strong, concerns of an impending recession in the US and Europe – two major markets for the IT industry — has clouded the growth outlook for the sector.

A total of 383,982 shares changed hands on the counter till time (IST).

The stock traded at a P/E multiple of -2636.7, while the price-to-book value ratio stood at 4.71.

The management in the 4QFY22 earnings concall highlighted its intent to monetize some assets, mainly land in order to improve liquidity. "The company is not envisaging any expansion plans, given the low capacity utilization. Hence, the future growth plans of the company look uncertain," said Motilal Oswal.

According to the brokerage, all three businesses of the company are in recovery mode. “While the India CV business will see a cyclical recovery, the India PV business is in a structural recovery mode. JLR is also witnessing a cyclical recovery, supported by a favorable product mix. However, supply-side issues will defer the recovery process."

The rupee was last trading at 82.3850, down from 82.32 in the previous session after hitting a record low of 82.6825 on Monday. The rupee has traded in a narrow range of about 8 paisa so far in the session. In comparison, the Korean won is down 1.7% and the offshore Chinese yuan had declined 0.5% to the dollar.

Amid increasing financialisation of household savings, the number of retail investors have been increasing steadily in the last few years. In September month alone, over 20 lakh new demat accounts were added, taking the total number of accounts to more than 10 crore.

The three SPVs acquired by Adani Green Energy are Wind One Renergy Limited (WORL), Wind Three Renergy Limited (WTRL) and Wind Five Renergy Limited (SFRL).​They had a combined turnover of Rs 121 crore in FY22 (WORL Rs 42.3 cr, WTRL Rs 42.2 cr and WFRL Rs 36.5 cr), Adani Greens said in an exchange filing.