Latest Stock Market News

“One large sector continues to be banks and the entire BFSI space. Second, the entire industrial and capital goods basket, which is facing tailwinds from China plus one, Europe plus one stories and at the same time, kickstarting of government as well as private capex cycle. Third would be the entire construction space and fourth Pharma.”

“We are at that inflection point and we are here to stay and the growth is going to continue to play out and one of the stellar reasons is that during the unwinding of the trades when the markets were collapsing, a large part of the Indian corporates went light on leverage, repaid debt and cut costs. They have become lean and mean.”

“We believe Torrent Pharma is amongst the best in class with margin at the current level and business would continue to grow in terms of double digit revenue growth and that itself would generate a momentum which would improve the margin further. On the other hand, our last seven-eight years’ growth has been substantially driven through the acquisitions that we made.”

According to NSE data, on September 19, Nalanda India Equity Fund purchased 29.1 lakh equity shares of Advanced Enzyme Technologies for Rs 78.62 crore. The foreign portfolio investor purchased shares at Rs 270.03 each.

The fund owns a portfolio of 10 to 14 quality financial companies (banks, NBFCs, life insurers, general insurers, asset managers, brokers) that have good corporate governance, prudent capital allocation skills and high barriers to entry.

Foreign investors withdrew from emerging Asian equities excluding China for a fourth straight week, pulling $858 million in the period through Sept. 16, according to the latest exchange data compiled by Bloomberg. The longest run of outflows since July has pushed regional currencies to historical lows, further dampening the outlook for stocks.

The board of directors of the company will be held on Thursday, September 22, 2022, to consider, inter alia, the proposal of raising of funds by issue of equity shares by way of a rights issue to the eligible equity shareholders of the company,” Bombay Dyeing said in a BSE filing.

“I am positive on the IT sector but I think we need to differentiate between IT companies doing well in terms of their top line, profit growth versus what is the outlook for the IT sector in the stock market, what are the returns from the stock market and that is where I have a concern. ”

The shares of Butterfly Gandhimathi were trading 1.31 per cent higher at Rs 1,520 over the previous day’s closing price of Rs 1,500.40. The scrip has zoomed nearly 850 per cent in the last three years, while it has risen about 40 per cent in the last three months.

Gold prices traded lower with spot gold prices at COMEX trading 0.43 per cent down at USD 1,669 per ounce. Gold prices traded lower ahead of US FOMC meet," Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said