Latest Stock Market News

FANGMAN includes seven of the biggest tech companies or tech mega-caps of the world -- Meta (Facebook), Amazon, Netflix, Alphabet (Google), Microsoft, Apple and Nvidia.

The rate for this was close to the repo rate against lower levels of reverse repo rate - where the bulk of parking was done. The interest burden was borne by the RBI, and the use of the instrument by banks was discretionary. Impact on the yield curve was more measured as the VRRR increased the overall cost of liquidity gradually.

The bank had posted a net profit of Rs 1,023.46 crore in the year-ago period. In the March quarter, the same stood at Rs 201.57 crore.Total income in the first quarter of the current fiscal fell to Rs 21,294 crore. In the year-ago period, it was at Rs 22,515 crore, according to a regulatory filing.

"Nifty50 witnessed an upside breakout of the crucial overhead resistance of 16,800 level, which was resistance as per the concept of change in polarity. Previously, the area of 16,800 saw a strong reversal on either side. Unfilled opening gaps and the positive chart formation like higher top-bottom are all indicating more upside," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

The Dow Jones Industrial Average added 83 points, or 0.3%. The S&P 500 climbed 0.3% and the Nasdaq Composite rose 0.2%. All of the major averages are on pace for a winning week and their best month of 2022.

The stock of Vedanta Ltd closed 0.8% higher on the BSE on Thursday at Rs 245.5. Benchmark Sensex ended the day higher by 1.87%.“It was a good quarter for us. We did well despite the headwinds from various reasons globally,” Sunil Duggal, the chief executive of Vedanta, told ET. “The volumes in most of our operations went up.”

The company reported a consolidated top line of Rs 4,415 crore, up 22% year-on-year. However, consolidated profit declined by 56% to Rs 280 crore.Earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 22% to Rs 801 crore. EBITDA margin narrowed by 10 percentage points to 18.1%.

The stock crashed 20 per cent for straight two sessions after the company posted a massive 81 per cent year-on-year (YoY) fall in consolidated net profit to Rs 100.4 crore in the June 2022 quarter. It had registered a net profit of Rs 539.2 crore in the corresponding period last fiscal.

Its loan assets portfolio shrank to Rs 56,301 crore at the end of June from Rs 60,438 crore a year back and from Rs 56,889 crore at the end of last fiscal, on account of sell down and accelerated payments in relation to corporate book. Its retail loan assets also saw a mere 1.7% year-on-year rise to Rs 50,295 crore.

"Our relentless efforts have resulted in favourable output. As we ramped up e-bus manufacturing, the deliveries increased to a record level of 169," said K.V.Pradeep, Chairman and Managing Director, adding that the company has increased the deliveries to various state transport units and will honour the delivery schedules.