Latest Stock Market News

Ebitda is seen at Rs 5,089 crore, up 27.5 per cent over Rs 3,991 crore in the corresponding quarter last year. Cigarette volume growth is seen at 21 per cent, aided by improved mobility levels. Ebitda margin is seen expanding owing to an improved sales mix.

At the 3-day-long Traders Carnival 2022 held in Bengaluru last week, the newbies got to learn some of the tricks of the trade from the masters of the game like Sivakumar Jayachandran, Super Trader Lakshya, Rajesh Sriwastava, Santosh Pasi, Jegathesan Durairaj, Nayan Pokharkar, Harshubh Shah and others.

Shriram Transport Finance Company Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 37234.33 Crore) operating in NBFC sector.

A total of 345,614 shares changed hands on the counter till 01:14PM (IST).

"The company is looking forward to sell-off its China JV stake in the future by restructuring the business and increasing focus on India, other than getting extra funding to acquire growth or technological capabilities. Also, going ahead, it is open to selling its Italy oil and gas forging business to realign focus on EBU and polymer parts businesses," it added.

“It would be too early to conclude that markets have climbed the wall of worry. Over the short term, over the last one month or a few weeks may be yes, but if we are looking at the rest of the year over the next two quarters or so, we still have to hold our horses as far as reaching that conclusion is concerned.”

On the technical charts, the 200-day moving average of the stock stood at Rs 544.13.

Promoters held 54.9 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 18.21 per cent and 11.55 per cent, respectively.

The footwear stock with a market capitalization of more than Rs 25,000 crore rose from Rs 1,678 on 29 June 2022 to Rs 1,964 on 29 July, which translates into an upside of about 17 per cent.Short-term traders can look to buy the stock now or on dips for a possible target of Rs 2,262 in the next 1-3 months which will surpass its 16 November 2021 high of Rs 2261.65 on the BSE, suggest experts.

The stock quoted a 52-week high of Rs 1696.15 and a 52-week low of Rs 1002.5.