Latest Stock Market News

Sectorally, buying was seen in telecom, realty, FMCG, metal and autos while some selling was visible in IT, consumer durables, and banking stocks.

"I see a lot of excitement around SBI. I have been recommending buying into SBI and ICICI. SBI in particular because we believe that there is a lot of value there. Also, in FMCG, for about the last one-and-a-half, two months, we have been recommending HUL. These are the two stocks which we had been recommending."

"It is not only a lot of small deals that we have won, we have also won 18 large deals and it is across markets, across industries. It is really comforting for us. The quality of the pipeline in term of the type of deals we have, size and being broad-based across sectors makes us confident that we will have a strong performance in Q2."

The stock quoted a 52-week high price of Rs 1696.15 and a 52-week low of Rs 1002.5.

As of 31-Mar-2022, promoters held 63.99 per cent stake in the company, while FIIs held 15.83 per cent and domestic institutional investors had 1.79 per cent.

Although gold is seen as a hedge against inflation, rising interest rates increase the opportunity cost of holding bullion, which pays no interest. Market participants are also keeping a close watch on the resumption of gas flow along the biggest pipeline from Russia to Germany.

Hindustan Unilever Ltd., incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 614335.88 Crore) operating in FMCG sector.

"Prices are in a firm up trend in line with the sector. ITC has seen an outperformance when compared to Nifty50 as relative strength remains at an elevated levels. But the price is now approaching the resistance zone of Rs 315-320. RSI shows slowdown in momentum. A short term correction to Rs 280-285 could be a buying opportunity," Shah said.

On the technical charts, the RSI of the stock stood at 71.67.

“We might end up with a single digit earnings growth in FY23 and for FY24 we are currently building in 13-14% earnings growth. FY23 is more like a consolidation year for earnings. After a very strong run up in the last two years, from next year we should be back to a double digit earnings growth. ”