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HUL reported a 13.85 per cent rise in its net profit to Rs 2,391 crore for the first quarter ended June 30, mainly driven by higher product prices. The FMCG major had posted a net profit of Rs 2,100 crore in the year-ago period.

“SBI in the last 15 years has not reported a ROE of 16%. But post this quarterly numbers, we would be able to see a 16% ROE reported by SBI which would be a very landmark event. That means that traditional valuation parameters that we were looking at valuing a PSU bank at 1 to 1.25 times price to book might change big time if the bank is able to report this kind of number.”

On the technical charts, the RSI of the stock stood at 58.71.

After hitting a 52-week high of Rs 298 on 17 November 2021, the stock failed to hold on to the momentum. It closed at Rs 228 on 18 July 2022 which translates into a downside of over 23 per cent.

Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 73243.02 Crore) operating in Cement sector.

Gold futures on MCX were trading merely higher by about 0.05 per cent or Rs 23 at Rs 50,343 per 10 grams. However, silver futures traded higher by 0.18 per cent or Rs 102 at Rs 55,829 per kg.

The BSE market capitalisation jumped Rs 2.29 lakh crore to Rs 258.84 lakh crore from Rs 256.54 lakh crore in the previous session, as seven of every 10 BSE stocks rose and some 150-odd stocks hit their upper circuit limits.

"Our Vision-2025 will play a crucial role in charting the next phase of growth for the company, with the current revenue mix ratio of approximately 35:65 between non-South and South markets, the aggressive expansion strategy will supplement in fueling the revenue contribution from non-South markets. The launch of 10 new showrooms backed by the newly-launched franchise arm will be critical in boosting further growth."

The Relative Strength Index of the stock stood at 57.61 on Wednesday.

US inflation is at a 41-year high and has been rising steadily: 8.3 per cent in April, 8.6 per cent May and 9.1 per cent in June. Inflation in the UK is 9.1 per cent in June and in Euro Zone inflation is at 8.6 %. A severe US recession, along with the ongoing slowdown in China and Europe, can severely impact global growth and corporate earnings, which is not yet reflected in global equity prices.