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Granules Receive ANDA Approval for Bupropion Hydrochloride Tablets
Price as of February 03, 2022 12:10 p.m.Click on company names for their live prices.
Varun Beverage returns to black in the third quarter
T3 BENEFITS: KALYAN JEWELRY
- PAT: Rs 135 crore vs Rs 115 crore YoY
- Turnover: Rs 3435 crore vs Rs 2936 crore YoY
- Stock up 1% after third quarter results
MARKET WATCH: Sensex extends decline, down more than 400 points
Apollo Tires partners with Tata Power to deploy electric vehicle charging stations in its commercial and passenger vehicle zones across India
Price as of February 03, 2022 11:53Click on company names for their live prices.
Choince Brokerage on Vedant Fashions: Subscribe with Caution
At the upper price range of Rs866, the requested valuation of Rs21,017 cr is derived at a P/S of 37.2x on FY21E and 29.2x on FY22E annualized sales. There are no peers listed with the same business profile. Based on our early guesses, the issue is rated at a P/S of 21.2x and a P/E of 44.7x on FY24E. Therefore, we consider the issue to be aggressively priced, leaving no margin of safety for investors. This therefore justifies caution on the valuation front. In addition, a high level of receivables (average of around 50% of sales in fiscal years 19 to 21) may erode the OCF margin in the future. Considering all of the above parameters, we are assigning the issue a “Subscribe with caution” rating.
Discover the top winners and losers in the tourism and hospitality space
Price as of February 03, 2022 11:31 a.m.Click on company names for their live prices.
ITC Q3 preview: Cigarette maker could post up to 53% profit growth
Fast-paced consumer goods company (FMCG) ITC is expected to report strong revenue and profit growth for the December quarter when it reports results on Thursday. Analysts estimate that net profits should increase up to 53% year-over-year, while sales should climb up to 46% year-over-year (YoY). Ebitda margins are likely to jump, they said.
JUST IN: TCS to expand STEM education programs in New Jersey and add 1,000 new employees by 2023
Price as of February 03, 2022 11:05 a.m.Click on company names for their live prices.
India could cut record 2022/23 market borrowing plan by up to Rs 60,000 cr
The Indian government could cut its projected record market borrowing of 14.95 trillion rupees ($200 billion) for the next fiscal year by up to 600 billion rupees, two government sources said. The sources said the government’s latest bond swap with the central bank in late January was not factored into the fiscal estimates released on Tuesday. The cut could be announced before the end of March, the sources said on condition of anonymity due to the sensitivity of the matter. (Source: Reuters)
JUST IN: IHS Markit India Jan Services PMI at 51.55 vs. 55.5 in December
MapmyIndia shares rise as company acquires 9.9% stake in Pupilmesh
Price as of February 03, 2022 10:30 a.m.Click on company names for their live prices.
Most active stocks on NSE at this time
Price as of February 03, 2022 10:18 a.m.Click on company names for their live prices.
Nifty Auto best sector performer; here are the winners of the pack
Sensex extends its decline, down 350 points
Globally, markets are in very volatile territory and this is likely to continue until some clarity emerges on the Fed’s rate hike decision in March. If the Fed opts for a 50 basis point rate hike in March, as some pundits fear, there will be a selloff in equity markets globally. But now it is a low probability event. The Fed would prefer gradual rate hikes without disrupting the markets. In India, the RBI is expected to raise the reverse repo rate at the February 9 meeting, indicating policy normalization. Technically, the market is strong, helped by the steady decline in FII sales, and DIIs and retail investors are consistently buying dips. Finances are strong and IT is making a comeback after the recent correction. This trend should continue.
– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Vedanta denies reports of Vedanta Resources merger talks; the company said no such proposal was under consideration
Price as of February 03, 2022 09:38Click on company names for their live prices.
Tire stocks fall as CCI imposes sanction
Price as of February 03, 2022 09:23Click on company names for their live prices.
Sector watch: The IT and Media indices are the ones that have fallen the most
Sensex Heatmap: 12 out of 30 stocks in the green
OPENING BELL: Sensex down 150 points, Nifty at 17,770; M&M Financial down 5%, EEZ down 3%
Pre-open session: Sensex gains 45 points, Nifty drops below 17,750
Meta plunges 23%, Nasdaq futures down 2%
Shares of Facebook owner Meta plunged 22.6% in after-hours trading as earnings and outlook fell short of expectations. Shares on Twitter and Spotify also fell, and Nasdaq 100 futures fell 2%. If the decline continues until the U.S. market opens on Thursday, the company’s overall value, known as market capitalization, is on course to fall by a figure larger than the size of the entire company. the Greek economy, based on World Bank data.
The dollar pauses after the recent fall
The dollar found a foothold in Asia on Thursday, halting the week’s decline as a slump in tech and social media stocks soured appetite for riskier currencies, and traders awaited bank meetings power stations in Great Britain and Europe. The risk-sensitive Australian and New Zealand dollars fell slightly in morning trading. The British Pound and Euro did not extend recent gains, and the common currency was slightly lower at $1.1297. The yen held steady at 114.41 to the dollar.
ITC Q3 results today
Analysts estimate that net profits should increase up to 53% year-over-year, while sales should climb up to 46% year-over-year (YoY). Ebitda margins are likely to jump, they said. During the September quarter, the company recorded a 13.67% year-on-year increase in standalone net profit to Rs 3,697.18 crore. Operating revenue increased by 11.97% year-on-year.
SGX Nifty reports a negative start
Nifty futures on the Singapore Stock Exchange traded 22 points, or 0.12%, at 17,786.50, signaling that Dalal Street was heading for a negative start on Thursday.
Tech View: Nifty50 forms a small bullish candle
Nifty50 rose Wednesday for the third day in a row and in doing so broke above its 20-day moving day on a closing basis. The index traded in a narrow range during the session after beginning to break apart and eventually formed a small bullish candle on the daily chart. The index needs to stay above the bullish range range of 17,674 to 622 to continue rising.
Nikkei opens lower as Ukraine crisis worries investors
Shares in Tokyo opened lower on Thursday as investor concerns grew over the escalating crisis in Ukraine. The benchmark Nikkei 225 fell 0.88% or 242.42 points to 27,291.18, while the broader Topix index fell 0.47% or 9.19 points to 1,927.37 . The dollar reached 114.37 yen, against 114.42 yen on Wednesday in New York.
The rupee cuts its initial gains to settle flat against the dollar
The rupee pared its initial gains to settle at 74.83 against the US currency on Wednesday on demand for dollars from foreign banks. Currency traders said higher-than-expected borrowing over the next fiscal year and weak government budget deficit projections weighed on investor sentiment. On the interbank exchange, the rupee opened at 74.76 against the US dollar, and then saw an intraday high of 74.71 and a low of 75.02 against the greenback.
Wall St posts 4th straight win
All three Wall Street benchmarks ended higher on Wednesday, rising for a fourth consecutive session after a rocky start to the year, helped by upbeat earnings from Google parent Alphabet and chipmaker Advanced Micro. Devices. The Dow Jones Industrial Average rose 224.09 points, or 0.63%, to 35,629.33, the S&P 500 gained 42.84 points, or 0.94%, to 4,589.38 and the Nasdaq Composite added 71.54 points, or 0.5%, to 14,417.55.
Sensex, Nifty on Wednesday
BSE’s benchmark 30-stock index climbed 695.76 points or 1.18% to end at 59,558.33 – its third straight session of gains. Similarly, the broader NSE Nifty jumped 203.15 points or 1.16% to end at 17,780.00. IndusInd Bank was the top winner in the Sensex pack, growing 5.57%, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank.