Latest Stock Market News

Hindustan Zinc, Sundaram Fasteners, MMTC, Tejas Networks, Tata Metaliks, Khaitan Chemicals, Wendt, Aditya Birla Money and Quest Capital are the companies that will announce their March quarter results today.

High-growth stocks, including those of Alphabet Inc and Amazon.com Inc, fell as investors fretted about how the higher rate environment would impact their future growth potential. Meta Platforms Inc declined 6.2%, taking its losses in the last two days to 13.5%.

China is easing monetary policy and Japan is pinning its government bond yields near zero, while overnight Federal Reserve Chairman Jerome Powell said a 50 basis-point rate hike was on the table at the next meeting in two weeks. The remark, though more or less in line with market expectations, sent five-year U.S. yields above 3% for the first time since 2018 and unwound a bounce in the euro.

Stocks which were in focus included RIL, India’s most valued company with a market capitalization of more than Rs 18.8 lakh crore, which hit a fresh 52-week high of Rs 2,788 before closing with gains of 2.3 per cent at Rs 2,782.

Earlier this month, the Enforcement Directorate (ED) had carried out searches at nearly dozen locations in connection with its money laundering probe into the NSE co-location scandal. Searches were carried out in Delhi, Gurugram, Mumbai, and Chennai.

If Future fails to obtain a majority vote from creditors and shareholders, the latter voted on Wednesday, the deal could fall through and it could result in lower recoveries for lenders.

Campus Activewear will be the first IPO to be launched after market regulator Sebi amended its ICDR (Issue of Capital and Disclosure Requirements) regulations on allotment under the non-institutional investor category and changed the lock-in period for anchor investors.

The yield on the 10-year benchmark government security had risen from an average of 6.83% in March to touch 7.25% earlier this month, reacting to the 17-month-high 6.95% retail inflation in India in March, the Russia-Ukraine conflict, concerns over runaway crude prices, and the rise in interest rates in the US. Yields have cooled to around 7.1% now.

The regulator has asked banks to ensure that the overdue interest is not adjusted to the principal of the loan causing negative amortization. Banks have also been asked to ensure that unpaid charges, levies and taxes are not capitalised for compounding of interest.

Canada Pension Plan Investment Board (CPPIB) has also increased its stake in Paytm from 1.57 to 1.71 per cent in the quarter ended March 2022, according to the regulatory filing.