Latest Stock Market News

If the Fed hikes the rate by 75 bps, we don’t expect a significant negative impact on the Indian market. In fact, after every 75 bps rate hike (as seen in June and July 2022), the Indian market rose. We expect a similar pattern to play out this time as well.

Triveni Turbine is a smallcap company with a market capitalization of Rs 7,612 crore. The company is a leading industrial steam turbine manufacturer, with a dominant market share of over 60 per cent in India. The company’s offerings include steam turbine solutions.

Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 7558.95 Crore) operating in Building Materials sector.

"The momentum is in favour of India as various macroeconomic parameters are stable while developed markets like the US and Europe have wide-ranging domestic issues on account of decades-high inflation, fast-paced rate increases, and eventually lower growth. We expect Indian equities to be range-bound and go through the time and some price correction. "

The stock quoted a 52-week high price of Rs 2379.0 and low of Rs 1513.3.

As of 31-Mar-2022, promoters held 46.74 per cent stake in the company, while FIIs held 16.44 per cent and domestic institutional investors had 14.84 per cent.

For the quarter ended June 30, 2022, the company has reported a standalone total income of Rs 7370.08 crore, up 10.39 per cent from last quarter total income of Rs 6676.20 crore and up 39.16 per cent from last year same quarter total income of Rs 5295.99 crore.

A total of 906,936 shares changed hands on the counter till 12:38PM (IST)

The stock traded at a P/E multiple of 40.99, while the price-to-book value ratio stood at 27.81.

The Nifty IT index closed 0.78 per cent up at 27020.6.