Latest Stock Market News

The decision was given the nod at the meeting of the board of directors held on Wednesday, the company said. The interim dividend will be paid within stipulated timelines as prescribed under the law, the exchange filing further noted.

“For the quarter we are expecting pharma earnings to decelerate further with the third consecutive quarter of year-on-year decline. It is an under owned sector and because of the sector rotation that we are witnessing, some of the stocks might come into limelight. We are underweight on pharma at least for the next one year.”

On the technical charts, the RSI of the stock stood at 56.01.

The market opened with strong gains despite negative global cues. US stocks closed in the red as retail inflation in the US accelerated to 9.1% which is the highest in 41 years.

This strong performance is likely to be driven by a sharp shift in mix towards its high-margin tractor segment (44 per cent of the total in Q1 from 32 per cent QoQ). Even auto volumes have remained stable QoQ, given the strong order backlog and chip shortage impact gradually reducing,” it said in a report.

Gujarat Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2021.

“We might see a bit of a subdued movement for the IT stocks and they may remain there till we get a little bit of clarity about how the growth cycle is going to get better in terms of IT spend for the US. We are of the view that domestic-oriented companies, be it banks or consumer names and auto are relatively better placed. For IT,the timing has to be much better to create a positive alpha over the next 6 to 12 months.”

The Nifty Bank index was trading 0.27 per cent up at 34921.95.

The stock traded at a P/E multiple of 40.69, while the price-to-book value ratio stood at 3.4.

A total of 94 shares changed hands on the counter till 11:01AM (IST)