Latest Stock Market News

“ The market is now more inclined towards the revival of the economy and all of those things and this narrative about recession and inflation will probably ease out in the next few days. In any case, the base effect of inflation will start playing from next month onwards. We will stop listening to a lot of inflation numbers and all of that and I guess the market is building on that,”

"Many opening upside gaps remained unfilled in the recent past, signalling a continuation of upmove. Nifty50 is now placed at the edge of the significant overhead resistance of the down-sloping trend line around 17,850-17,900 levels. This is a positive indication and suggests that the hurdle could be taken out on the upside soon," Shetti said.

The Dow Jones Industrial Average rose 30 points, or 0.09%, while the S&P 500 slipped 0.15% and the Nasdaq Composite fell 0.29%.

"We are moving towards making a much more granular book in the financial services business. Today we have about 43-44% of our book as retail and the balance is wholesale. Earlier before DHFL, it was like 90:10. In the next few years, we want to make it two-thirds retail and one-third wholesale."

“We cannot expect the similar kind of returns which have happened in the last couple of weeks. We will have to curtail our return expectations. There can be a reduction in terms of the returns which are coming in in the subsequent period because we already have seen a significant amount of rally during the last couple of weeks.”

The Nifty Bank index closed 0.51 per cent up at 39239.65.

Promoters held 0.22 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 39.18 per cent and 21.42 per cent, respectively.

A total of 340,463 shares changed hands on the counter till 03:14PM (IST)

As per an F&S report, Concord Biotech commands a market share of over 20 per cent by volume in 2021 across identified fermentation-based API products including dactinomycin, sirolimus, tacrolimus, mycophenolate sodium, and cyclosporine. It supplies to over 70 countries including regulated markets such as the United States, Europe, Japan, and India.

“We are not very rich but when the global average is $10000-$12000-$13000, we are at $2,500 and India is supplying manpower to run the best and the biggest corporations in the world. Clearly we have a chance or most likely the way my last 40 years have gone, the next 40 is going to be like that only or may be even more exciting as the world is becoming prosperous.”