Latest Stock Market News

The Nifty Auto index closed 1.97 per cent up at 11583.25.

According to the analysts who attended the event, the new age company intends to give priority to driving growth in the Beauty and Personal Care (BPC) segment and developing the Fashion & Superstore verticals. Initiatives such as Nykaa Man have taken a back seat, analysts added.

The FTSE 100 was set to end the week largely flat, while the mid-cap index was on pace for a weekly loss of 1%. Data showed British retail sales volumes slid by 0.5% in May, showing that consumers cut back on shopping in the face of fast-rising inflation last month, and an increase in sales in April was revised down sharply.

Stock markets globally have been whipsawed in recent sessions as investors debate whether equity valuations have hit a bottom in the wake of a sharp selloff induced by fears of an economic slowdown.

Describing Delhivery as a scaled, sound and strong company, it said factors that could trigger an potential upside in the stock are continued market share gains in the express parcel business as well as better-than-expected performance in the PTL business.

A total of 160,565 shares changed hands on the counter till 02:10PM (IST)

“We have added some of the export-based companies like SRF. Second is Jubilant Ingrevia. The company is changing its profile and becoming more high margin business. It trades at about 11 times, earnings growth will be north of 20 times. Second, again in the auto pack, we have added Hero MotoCorp and TVS Motors as well as Tata Motors.”

Annapurna will use the funds to grow its loan book, invest in technology and expand geographically, the company said on Friday.With a pan India rural distribution network and a multi-product strategy, it offers micro-credit loans, home improvement, and MSME loans to individuals and small businesses.ET had highlighted in its report on June 15 that Annapurna was preparing to raise equity.

Promoters held 54.8 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 23.54 per cent and 12.8 per cent, respectively.

“Investors’ confidence is far higher than fund managers’ confidence. Normally in a market like this, we will go and tell investors not to worry and keep faith on the long term India growth story. Now investors are passing us this message, markets are volatile but overall we will be fine.”