Latest Stock Market News

On Thursday, the Pakistani rupee fell 9.6% against the dollar in the inter-bank market, the biggest one-day drop in over two decades, a day after foreign exchange companies removed a cap on the exchange rate.

“The trend is firmly down and the nearest important level for me is 17,428 on the Nifty spot. So, if the market sprints to 17,428 not even a close just a print, it will confirm and extinguish all remaining hopes for the bulls that the market is headed for below the June 2022 low.”

Public sector undertaking firm NTPC is among a range of domestic companies that will announce earnings on Saturday. Here are some of the key corporate earnings to watch out for.

The Nifty IT index closed 0.92 per cent down at 29766.45.

"We continue to drive execution-led growth to build scale. This will deliver value for all the stakeholders. Consistent market share gains build a stronger operating environment which further drives future growth opportunities," Jyothy Labs Ltd Managing Director M R Jyothy said.

“The other business which is a surprise to us is a degree apprenticeship business. On January 3, we received a notification that the government is withdrawing the NEEM Programme under which we have 26,000 trainees. We may have to release these apprentices in the coming quarters. As of December, we already released 20,000 trainees and so that has also impacted our quarterly performance both in terms of growth as well as profitability.”

Commenting on the performance, Anupam Rasayan Managing Director Anand Desai said: "...despite unavailability of the certain capacities during the quarter, we were able to deliver growth on YoY basis. If you adjust the deferred revenue due to capacity constrain then our growth would have been around 25 per cent during the quarter."

“There will always be uncertainty when a group has made its market cap past Rs 20 lakh crore in the last five years but it is on the back of businesses which are there. It all seems concerted. It tells us how insider trading is very open right now. SEBI and stock exchanges should look to who had initiated this and where was the call writing and put and hence the option market.”

A total of 2,250,353 shares changed hands on the counter till 01:58PM (IST).

As of 31-Dec-2022, promoters held 46.64 per cent stake in the company, while FIIs held 12.53 per cent and domestic institutional investors had 0.0 per cent.