Latest Stock Market News

The margins of domestic steelmakers will remain under pressure in the second quarter despite a dip in input costs as they are carrying more expensive inventory that will now be liquidated, said TV Narendran, managing director, Tata Steel. While the imposition of a 15% export duty in May has hurt the steel industry, the impact on Tata Steel was not very significant as the company had low exposure to exports, he said.

​​​ Blue Dart said its net profit jumped close to four times to ₹119 crore in the April-June quarter on a robust operating performance. Revenue from operations rose nearly 50% to ₹1,293 crore. "Life in the pandemic has leap-frogged. We are out of the pandemic now. It is a mix - better realisation, yield improvement, digitisation, service quality and cost management," MD Balfour Manuel told ET.

5G auction on Wednesday was muted, though some circles saw intense bidding in the mid band or C-band (3.3-3.67 GHz), and high band (26 GHz) for the second successive day.

Fraser says financial markets would remain volatile over the next few months and that Quantitative Tightening (QT) would lead us to a very different world.

The lack of clear visibility into the future trajectory of the economy means the Federal Reserve can provide reliable guidance about where its policy is headed only on a "meeting by meeting" basis, Powell said.

Biocon Biologics share which constitutes 45% of revenues reported 29% YoY growth to Rs Rs 977 crore in Q1FY23, while the generic business rose 19% to Rs 580 crore.Biocon said that its net profit and margins would have been much higher, had it not been for higher R&D and other expenses.

"The Securities and Exchange Board of lndia (Sebi) has granted its in-principle approval for the change in control of HDFC Property Ventures Limited, a wholly-owned subsidiary of HDFC Ltd which is the investment manager of HDFC India Real Estate Fund III (HIREF III)," HDFC Ltd said in a regulatory filing on Wednesday.

Rajan Sethuraman, Chief Executive Officer, Latent View Analytics, said, “Our Q1FY23 performance was in-line with our expectations, and we are happy to report revenue growth of 37% on a YoY basis. I am pleased to share that our investments in the front-end sales team, building capabilities, assets and accelerators are showing results

Total revenue rose to Rs 2,217 crore in the first quarter as compared with Rs 1,808 crore in the year-ago period, Biocon said in a regulatory filing.Biocon Executive Chairperson Kiran Mazumdar-Shaw said revenues grew as a result of robust growth in both biosimilar and generics verticals.

>> For more such web stories click on the ET icon below