Stock Market today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16 July 2023.ALL UPDATESAugust 16, 2023 12:18Shares of Shriram Properties rises 2.05%
Shriram Properties stock rises 2.05% on the NSE, trading at ₹69.75. The company’s board had approved the appointment of Ashish Deora, Founder and CEO of Aurum PropTech Limited, focused on creating technology-driven revolution in the real estate sector in India.August 16, 2023 12:17SBFC Finance shares debut with nearly 44% premium
Shares of non-banking finance company SBFC Finance Ltd made a remarkable stock market debut on August 16, beginning the trade with a premium of nearly 44 per cent, against the issue price of ₹57.The stock listed at ₹81.99, up 43.84 per cent from the issue price on the BSE. It later jumped 59 per cent to ₹90.67.At the NSE, it began the trade at ₹82, recording a jump of 43.85 per cent.August 16, 2023 12:14Shares of Uno Min Ltd rises by 2.87%
Uno Minda Ltd has recently commissioned a new EV systems plant in Farukhnagar, Haryana under the joint venture with FRIWO AG Germany. In August 2023, the company commissioned its second new EV systems plant under subsidiary Uno Minda Buehler Motor Private Limited (UMBM) in Bawal, Haryana. The stock rises by 2.87% on the NSE, trading at ₹600.85.August 16, 2023 12:10Major gainers and losers on the NSE at 12 noon
Major gainers: Apollo Hospitals (1.93%); Infosys (1.56%); Tech Mahindra (1.33%); HCL Technologies (1.04%); Wipro (1%).Major losers: Tata Steel (-1.90%); Hindalco (-1.79%); HDFC Life (-1.71%); Hero Motocorp (-1.44%); Adani Ports (-1.42%).August 16, 2023 12:07Indian consumers are seeking aspirational, feature-rich SUVs, says Tata Motors HoM Vinay Pant
Over 70 per cent of Tata Motors’ customers in rural India, who are first-time car buyers, opt for an SUV. The automaker is curating its SUV vehicle offerings to cater to the changing demand in the domestic market.Vnay Pant, Head of Marketing at Tata Motors Passenger Vehicles Ltd spoke to Businessline on its increasing SUV market share, changing consumer demands, and an uptick in SUV sales in the hinterland.Read more.August 16, 2023 12:06Patanjali Foods shares up over 3% on Q1 revenue growth
Patanjali Foods’ shares were up 3.33 per cent after the company reported a 7.7 per cent increase in revenue for the quarter ended June 30, 2023, at ₹7767.10 crore. However, the company’s profit after tax was down by 63 per cent year-on-year to ₹87.75 crore. Sequentially, the company’s profits were lower by 66 per cent.The shares were up by 3.33 per cent to ₹1,310 at 11.33 am on the BSE.August 16, 2023 12:05Stocks advanced on BSE at 12 noon
Stocks advanced on BSE at 12 noon on August 16 were 1,761 against 1,704 stocks that declined. Total stocks traded were 3,607. The number of stocks that recorded a 52-week high 170, and those that hit a 52-week low was 36.August 16, 2023 12:00Shares of Ashok Leyland inchesupby 0.99%
Ashok Leyland stock inches up by 0.99% on the NSE, trading at ₹188.70. The company’s board had approved the acquisition of 100% of Ohm Global Mobility Private Ltd (OHM) from OHM International Mobility Ltd for a nominal consideration of ₹1 lakh.August 16, 2023 11:53Shares of Aurobindo Pharma inches up by 0.33%
Aurobindo Pharma said in a regulatory filing that its wholly owned subsidiary company, Eugia Pharma Specialities Limited, has received final approval from USFDA to manufacture and market Icatibant Injection, 30 mg/3 mL (10 mg/mL), single-dose prefilled syringe. The stock of Aurobindo Pharma inches up by 0.33% on the NSE, trading at ₹874.50.August 16, 2023 11:52TVS Motor Company and BMW Motorrad celebrates ten years of partnership
TVS Motor Company and BMW Motorrad celebrates ten years of their long and strategic partnership. The companies signed partnership in April 2013 to manufacture sub-500cc motorcycles for global markets. This collaboration has resulted in the devlopent of four products on the 310cc platform: BMW G 310 R, BMW 310 GS, BMW G310 RR and TVS Motor Company’s flagship motorcycle, TVS Apache RR 310. TVS Motor stock declines by 1.04% on the NSE, trading at ₹1,330.85.August 16, 2023 11:51Tejas Networks stock rises by 4.40% on the NSE, trading at ₹849.05. The company has bagged order worth ₹7,492 crore from TCS.
August 16, 2023 11:49SBFC Finance stock trades at ₹92.70 on the NSE after debuting at ₹82 today.
August 16, 2023 11:44Shares of Vodafone Idea stock declines by 2.48%
Vodafone Idea stock declines by 2.48% on the NSE, trading at ₹7.85. The company’s losses widened to ₹7,840 crore in the quarter ended June 2023, from ₹7,296 crore in the corresponding period last financial year.August 16, 2023 11:43NMDC informs exchange about prices of iron ore
NMDC has informed the exchange about the prices of Iron Ore as under;Lump Ore at ₹4,650 per tonne; andFines at ₹3,910 per tonne.NMDC stock declines by 1.52% on the NSE, trading at ₹116.90.Augut 16 2023 11:41Shares of Shoppers Stop up 1.6 per cent
Shoppers Stop has entered into a Master Rent agreement with M/s OPC Asset Solutions, for renting of Information Technology (IT) Assets, vide agreement executed by the Company on August 14, 2023. Master Rent Agreement for renting of IT Assets is within the overall facility amount of Rs 30 crore. The renting of IT Assets will be for 3 years from date of supply. Rentals are payable quarterly in advance. Refundable security deposit is 10% and IT Assets will be returned at the end of the 3 years.Shares up 1.6 per cent at Rs 828.25.August 16, 2023 11:38HOEC shares hammered due to poor results, falling crude
The share price of Hindustan Oil Exploration Company is being hammered by the market; not-so-good Q1 results and falling crude prices appear to be the reason. On the NSE on Wednesday morning, the share price of the Chennai-based oil exploration and production company was down Rs 43.95, or 18.48 per cent, from the previous close. At he tie of writing this report, the share price is quoting at Rs 193.85. August 16, 2023 11:37Bank Nifty prediction today–August 16, 2023: Likely to breach a support
Bank Nifty index opened today’s session lower at 43,726 versus Monday’s close of 44,091. It is down by 0.6 per cent so far and is trading at around 43,815.The index is showing a clear bearish bias as the advance/decline ratio stands at 2/10. State Bank of India, up by 0.5 per cent, is the top gainer whereas IndusInd Bank, down by 1.3 per cent, is the top loser.August 16, 2023 11:35ICRA expects the telecom services industry to report moderate revenue growth of around 7-9% in FY2024 amid high capex spends
Key Highlights:Revenue growth of around 7-9% in FY2024 over FY2023 owing to muted average revenue per user (ARPU) expansion.Debt levels elevated at around Rs. 6.1-6.2 lakh crore as on March 2024 (Rs. 6.3 lakh crore as on March 31, 2023).The three telcos together have achieved almost 75-80% penetration of 4G subscribers (arond 800million 4G subscribers).August 16, 2023 11:33Agrochemicals sector 1QFY24 review by Kotak Institutional Equities
No quick recovery for global market; India may fare betterMost agrochemical companies—in India as well as overseas—reported very weak results for the recently-concluded June quarter amid continued pressure from channel destocking and generics oversupply. There were very few exceptions (BASF, Best Agro, Godrej and PI), all of which benefited from specific growth drivers. The upcoming September quarter will remain weak for the global industry, though India may fare better amid monsoon revival.August 16, 2023 11:31Shares of SP Apparels Ltd decliens by 2.21%
SP Apparels Limited has proposed to incorporate a subsidiary company in Srilanka. The stock decliens by 2.21% on the NSE, trading at ₹443.80.August 16, 2023 11:30Shares of Royal Orchid & Regenta Hotels inches up by 0.37%
Royal Orchid & Regenta Hotels has launched a property in Shimla – Regenta Resort MARS Valey ViewShoghi.The stock inches up by 0.37% on the NSE, trading at ₹299.65.August 16, 2023 11:29Shares of Coffee Day rises by 5.83%
Coffee Day Enterprises stock rises by 5.83% on the NSE, trading at ₹39. The company had reported a consolidated net profit of ₹22.51 crore for the first quarter ended June 2023 as against a loss of ₹18 crore in the April-June period a year ago.August 16, 2023 11:27Bulls check in to Sinclairs stock, up 3%
Shares of hotels operator Sinclairs are up nearly 3% at Rs 165 in early trades on the back of best-ever quarterly earnings and buyback of shares for upto Rs 200 apiece.August 16, 2023 11:27Shares of HCL Technologies rises 1.10%
HCL Technologies stock rises 1.10% on the NSE, trading at ₹1,183.90. The company had been selected by Cricket Australia (CA), the national governing body for the game in Australia, for the next phase of CA’s digital transformation.August 16, 2023 11:15Major Gainers and Losers on the BSE at 11:07 am
Major gainers: Garden Reach Shipbulders ≈ Engineer (18.41%); Johnson Controls-Hitachi Air Conditioning India (11.92%); Cochin Shipyard (9.52%); Religare (8.61%); RattanIndia (7.40%)Major losers: Hindustan Oil Exploration (-16.93%); Uflex (-6%); Hindustan Copper (-5.76%); TGV Sraac (-5.26%); Crompton Greaves (-5.10%)August 16, 2023 11:10Shares of Kaveri Seeds went up by 4.39 per cent
Kaveri Seeds Ltd.’s shares went up by 4.39 per cent after the company reported an 11.2 per cent increase in profit for the quarter ended June 30, 2023, at Rs 267.83 crore compared to Rs 240.67 crore during the corresponding quarter last year. The company’s revenues were up 4.8 per cent to Rs 767.29 crore compared to Rs 731.95 crore last year. Sequentially, the company’s profits were higher compared to Rs 13.88 crore in the previous quarter.The shares went up by 4.39 per cent to Rs 580 at 10.49 am on the BSE.August 16, 2023 11:07Shares of Sonata inches up by 0.46%
Sonata Software said in a regulatory filing that the company is witnessinga high leel of interest for its recently launched Harmoni.AI, a responsible-first AI offering. The company has partnered with CPL Aromas to foster its next phase of modernisation journey.“We are excited to take the next leap in our Modernization journey with Gen AI to drive our next phase of Transformation, enabled by the Responsible First approach leveraging Sonata’s Harmoni.AI offerings,” said Alfred Muthunathan, CIO, CPL Aromas. Sonata’s stock inches up by 0.46% on the NSE, trading at ₹1,035.60.August 16, 2023 11:05Shares of Caplin Point Laboratories rises 4%
Shares of Chennai-based drug maker Caplin Point Laboratories rises 4% to Rs 1,052 on NSE. The company has announced that it has embarked on ₹550-crore capex to expand its existing capacities and to build new facilities for export to regulated markets.August 16, 2023 10:59Shares of Infosys rises by 1.55%
Infosys stock rises by 1.55% on the NSE, trading at ₹1,415.10. The company had expanded its collaboration to evolve and scaleLiberty Glbal’s cutting-edge digital entertainment and connectivity platforms.August 16, 2023 10:56Post listing view on SBFC Finance from Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd.
SBFC Finance Limited debuted in the secondary market at a listing price of Rs. 82 versus its issue price of Rs. 57, making it another intriguing listing where investors would receive some decent returns in the IPO. That represents a premium of almost 43%, although it falls short of earlier projections, which is probably a result of broader market volatility.SBFC stands out as a rapidly expanding non-banking financial company (NBFC) with robust earnings growth and stable asset quality. However, it bears the vulnerability of being sensitive to interest rates and market cycles, so in this market, after listing at such a premium, one should book profit, however aggressive investors may hold it for the long term.August 16, 2023 10:49Hindustan Copper’s net profit for Q1 declines 17.54%
Hndustan Coper stock declines by 7.26% on the BSE, trading at ₹141.75. The State-owned company posted a 17.54% decline in net profit to ₹47.28 crore for the June quarter on account of higher expenses.It had clocked ₹57.08 crore as “net profit after tax share of profit of JV/associates”, in the year-ago period, Hindustan Copper said in a regulatory filing.August 16, 2023 10:42Shares of LatentView Analytics have surged 6% to touch an Intraday high of Rs 415.4 on NSE
August 16, 2023 10:37The stock of IIFL Securities surges 7.71% on the NSE, trading at ₹69.85.
August 16, 2023 10:37Indian Overseas Bank stock rises by 5.27% on the NSE, trading at ₹31.95.
August 16, 2023 10:37Shares of IndiGo declines by 3.71%
InterGlobe Aviation (IndiGo) stock declines by 3.71% on the NSE, trading at ₹2,454.65. Its co-founder Rakesh Gangwal is looking to raise over ₹3,730 crore by paring down his stake in the airline via block trade.August 16, 2023 10:35Garden Reach Shipbuilders reports 52% increase in Q1 prfit, shares p by 9%
Garden Reach Shipbuilders and Engineers Ltd.’s shares surged after the company reported a 52 percent increase in profit for the quarter ended June 30, 2023, at Rs 76.68 crore compared to Rs 50.17 crore during the corresponding quarter last year. The company’s revenues were up by 30 per cent to Rs 755.90 crore compared to Rs 579.77 crore last year. Sequentially, the company’s profits were higher by 38 per cent compared to Rs 55.29 crore in the previous quarter.The shares were up by 9 per cent to Rs 721 at 10.10 am on the BSE.August 16, 2023 10:30Dhanlaxmi Bank stock surges 6.77% on the NSE, trading at ₹24.45.
August 16, 2023 10:29Shares of Vikas Lifecare jumps 10.14% on the NSE
Vikas Lifecare had acquired 98% equity of MSR Apparels Private Limited (a company engaged in manufacturing of all types of textile garments and clothing accessories) from its existing promoters and shareholders in an all-cash deal for a total consideration of ₹12.5 crore. The stock of Vikas Lfecare jumps 0.14% on the NSE, trading at ₹3.80.August 16, 2023 10:27IPO price settled in Pre-Matching
SBFC FINANCE LIMITEDISSUE PRICE: ₹ 57LOT SIZE:-260LISTING PRICEBSE: ₹ 81.99NSE: ₹ 82Listing GainBSE:-6497.40NSE:-6500August 16, 2023 10:14Sensex, Nifty fall in early trade on weak global trends, foreign fund outflows
Benchmark equity indices declined in early trade on Wednesday amid weak global market trends and continuous foreign fund outflows.The 30-share BSE Sensex fell 369.03 points to 65,032.89. The NSE Nifty declined 117.35 points to 19,317.20.From the Sensex pack, Bajaj Finance, HDFC Bank, IndusInd Bank, Tata Motors, Tata Steel, Bajaj Finserv, JSW Steel and ICICI Bank were the major laggards.ITC, Tech Mahindra, Infosys, State Bank of India, Wipro, HCL Technologies, Hindustan Unilever and NTPC were the gainers.August 16, 2023 10:13Tomato prices start declining
Tomato prices have begun declining across the country with arrivals increasing and the weather clearing up. In New Delh, tomatoes aresold at ₹50 a kg. In southern cities such as Bangalore and Chennai, tomato prices have declined to around ₹60 a kg. In Maharashtra, barring Mumbai, Thane and Kolhapur, tomato prices have dropped to around ₹50 a kg, per Agmarket data.August 16, 2023 10:08M&M showcases its Thar.e and Global Pik Up in Cape Town
Indian automaker Mahindra & Mahindra unveiled the Thar.e and its Global Pik Up in Cape Town, South Africa, on August 15. The Thar.e will be on the company’s INGLO electric platform with AWD electric powertrain and incorporate 50 per cent recycled PET and uncoated plastics. August 16, 2023 10:06Claims worth ₹45,286 crore against Bharti Airtel, subsidiaries under litigation
Bharti Airtel on Tuesday said claims worth ₹45,286.76 crore against the company and its subsidiaries are under litigation in various courts across the country.The pending litigations include a demand of ₹15,178 crore, the highest among all, for one-time spectrum charges that was raised by th Department of elecommunications (DoT) in January 2013.August 16, 2023 10:00Shares of Aditya Vision inches up by 0.47%
Aditya Vision has opened two showrooms at Godda, Jharkhand; and Prayagraj, Uttar Pradesh. The stock inches up by 0.47% on the BSE, trading at ₹2,386.75.August 16, 2023 09:59Turmeric gains while jeera and dhaniya declined on NCDEX
On NCDEX, turmeric gained in the spices complex, while jeera (cumin) and dhaniya (coriander) declined. Dhaniya September contracts dipped by ₹100 to ₹7,414 a quintal. Jeera September futures slipped by ₹530 to ₹61,510 a quintal. Turmeric December futures gained ₹180 at ₹18,098 a quintal.August 16, 2023 09:57Shares of AXISCADES rises by five per cent
AXISCADES Technologies Ltd has announced the appointment of Hrishi Mohan as the Group Chief Human Resources Officer. Before joining the company, Mohan led the HR function for companies like Wipro, Accenture, Godrej-GE Appliances Tenshi Life Sciences Ltd, the company said in its exchange filing. AXSCADES stock riss by 5% on the NSE, trading at ₹579.70.August 16, 2023 09:53On MCX, gold October contracts declined by ₹129 to ₹58,845 per 10 gm. Silver September futures slid ₹29 to ₹69,925 a kg.
August 16, 2023 09:53Gold declined towards $1,900 an ounce
In Asian trade, gold declined towards $1,900 an ounce. The yellow metal hovered near seven-week lows at $1,904.09 as stronger-than-expected US retail sales data supported the case for the Federal Reserve to keep interest rates higher for longer. Silver ruled steady at $22.52 an ounce.August 16, 2023 09:48IPO screener: SBFC Finance listing today
Shares of SBFC Finance will be listed at the bourses on Wednesday. The company has fixed the issue price at Rs 57, at the upper end of the price band rs 54-57. The Rs 1,025-crore initial public offering of SBFC Finance saw an overwhelming response from all category of investors by subscribing over 70 times.August 16, 2023 09:46Michael Burry exits Alibaba, JD.com stakes in portfolio overhaul
Mihael Burry’s Scio Asset Management exited its stakes in Alibaba Group Holding Ltd. and JD.com Inc. in the second quarter, ditching the stocks just months after doubling down on them. That’s a stark turnaround, considering the two Chinese tech giants comprised 20 per cent% of the firm’s portfolio and were its top two equity holdings at the end of March.August 16, 2023 09:42Major gainers and losers on the NSE at 9:30 am
Major gainers on the NSE: ITC (1.29%); Infosys (1.28%); BPCL (1.25%); Tech Mahindra (1.16%); LTI Mindtree (0.69%)Major losers: Hindalco (-1.90%); Hero Motocorp (-1.75%); Adani Ports (-1.59%); Divi’s Laboratories (-1.36%); Adani Enterprises (-1.34%)August 16, 2023 09:32Aptech MD and CEO Dr. Anil Pant passed away on August 15
Aptech MD and CEO Dr. Anil Pant passed away on August 15, 2023. The company disclosed in an exchange filing, and added, “Dr. Pant’s contribution and energy will be missed by the company. All the directors and employees of the company convey their deepst condolences to is family.”August 16, 2023 09:28Crude oil futures traded lower on Wednesday morning
Crude oil futures traded lower on Wednesday morning following the weak economic data from China. At 9.17 am on Wednesday, October Brent oil futures were at $84.67, down by 0.26 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $80.83, down by 0.20 per cent. August crude oil futures were trading at ₹6732 on Multi Commodity Exchange (MCX) in the initial trading hour of Wednesday morning against the previous close of ₹6868, down by 1.98 per cent; and September futures were trading at ₹6702 as against the previous close of ₹6829, down by 1.86 per cent.August 16, 2023 09:26Tejas receives an order from TCS worth ₹7,492 crore
Tejas Networks Limited, part of Tata Group, has received a purchase order from Tata Consultancy Services Limited (TCS) worth ₹7,492 crore for supply, support and annual maintenance services of its Radio Access Network (RAN) equipment forBSNL’s Pan-India 4G5G network.August 16, 2023 09:24Today is a settlement holiday on account of Parsi New Year
Your account balance today won’t include credits from equity intraday profits and credits & M2M profits from F&O positions on 14th August and will show from 17th August.Currency trading will also be closed today.August 16, 2023 09:23KPI enters into an agreement with MAHAPREIT
KPI Green Energy Limited has entered into an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a subsidiary of MPBCDC, a government undertaking of Maharashtra, aimed at the advancement of diverse projects, particularly those in the realm of renewable energy.August 16, 2023 09:14Fund Houses Recommendations
BofA on Auro Pharma: Maintain Buy on Company, target price at Rs 965/shCiti on SAIL: Maintain Buy on Company, target price at Rs 110/shGS on Divis Lab: Maintain Buy on Company, target price at Rs 3885/shareJefferies on Divis Lab: Maintain Buy on Company, trget price at Rs 430/shCiti on Crompton: Maintain Buy on Company, target price at Rs 350/shMS on IBul housing: Maintain Underweight on Company, target price at Rs 103/shHSBC on Auro Pharma: Maintain Hold on Company, target price at Rs 855/shHSBC on Divis Lab: Maintain Reduce on Company, target price at Rs 2890/shBofA on Divis Lab: Maintain Underperform on Company, target price at Rs 3150/shNomura on Crompton: Downgrade to Neutral on Company, target price at Rs 338/shAugust 16, 2023 09:02Brokerages on CPI shocker
CLSADo not expect RBI to react to CPI inflation jumping to 7.4% in JulyStill expect RBI to cut rates by 100bp from Dec if Fed pauses @5.5%If Fed raises to 5.75%, RBI will likely hike to 6.75% in Oct & cut 125bp from FebNomuraHigher headline, lower core dilemma beginsFurther liquidity tightening cannot be ruled out, but with core inflation drifting lower, expect an extended pause on repo rates for nowCITIVegetable Shocker in July CPI, Kneejerk Rate Action Might Still Not bea Preferred OptionIn ase case, expect no further rate hikes but push our first rate cut call to Jun-24 (vs Apr-24 earlier)Morgan StanleyNow expect inflation to rise in near term before moderating to below 6% from NovemberAs such do not expect rate easing to start until 2Q24 Liquidity management will likely remain focus in RBI’s inflation fightUBSMaintain our base case view that CPI inflation will average 5.4%YoY in FY24Continue to expect MPC to remain vigilant & keep repo rate on a prolonged pause in rest of FY24August 16, 2023 09:01Citi on SAIL
Citi on SAILBuy RatingTarget Rs 110Adj EBITDA Fell 9% YoY On Lower Realisations, Offset In Part By Strong Vol & Lower CostsSequentially EBITDA Fell 43% On Lower Volumes & Higher CostsQ1FY24 Adj EBITDA/t At Rs 4,245 Vs Rs 6,225 In Q4FY23 And Rs 5,745 In Q1FY23Excluding Profit On Sale Of Plant & Machinery, Co Reported Loss During The QtrDomestic Steel Prices Softened, Expect EBITDA/t To ExpandAugust 16, 2023 09:00Citi on CromptonCons
Citi on Crompton onsBuy RatingTarget Rs 350Reported Soft Q1 With Revenue & EBITDA At Rs 1,880 Cr & Rs 190 Cr, RespectivelyFans & Small Appliances Saw Rev Growth, Lighting & Residential Pumps DraggedEBITDA Margin Came In At 9.9%, Down 191 bps YoYLighting Margin Expands, Overall Margin Impacted By Increase In A&P SpendsGoing Forward, Crompton Will Prioritise Revenue GrowthAugust 16, 2023 09:00Citi on Crompton Cons
Citi on Crompton ConsBuy RatingTarget Rs 350Reported Soft Q1 With Revenue & EBITDA At Rs 1,880 Cr & Rs 190 Cr, RespectivelyFans & Small Appliances Saw Rev Growth, Lighting & Residential Pumps DraggedEBITDA Margin Came In At 9.9%, Down 191 bps YoYLighting Margin Expands, Overall Margin Impacted By Increase In A&P SpendsGoing Forward, Crompton Will Prioritise Revenue GrowthAugust 16, 2023 08:59MS on Indiabulls Hsg
MS on Indiabulls HsgUnderweight RatingTarget Rs 103PPoP Miss Of 21% On Lower Total Income & Higher Operating CostsPAT eat As Lower PPoP Was Ofset By Recoveries Led Credit Cost ReversalsRaise Forecasts By 5-6%, However, RoE Will Likely Take Longer To RecoverAugust 16, 2023 08:58Brokerages on Aurobindo Pharma
HSBC on Aurobindo PharmaHold RatingTarget Raised To Rs 855Q1 Helped By Sales In US & Europe Segments And Operating Leverage BenefitsOutlook Remains Robust For Key US Segment In Near-term On Vol Growth & LaunchesUS Sales Growth Benefits Largely Priced In, Sustainability Is KeyBoFA Sec on Aurobindo PharmaBuy RatingTarget Raised To Rs 965 From 770Strong Quarter With Both US & EU Sales BeatEBITDA Margin In-line On Moderation In Gross MarginUS Momentum To Continue On Stable Pricing, Launch PipelineAugust 16, 2023 08:57Brokerages on ITC
JPMorgan on ITCOverweight RatingTarget Rs 475In-line Q1 EBITDA, Cigarette & Other FMCG Performance Trending WellDD Revenue/EBIT Momentum Sustains In Cigarettes SegmentHealthy Revenue & Margin Delivery In Other FMCG SegmentsStay Overweight Amidst Relatve Earnings Security &am; Accommodative ValuationsCLSA on ITCOutperform RatingTarget Rs 480Cigarette & Other FMCG Make-Up For Challenges In Agriculture & PaperCigarettes Continue To Provide A Spark & Other FMCG Margin On TrackHotels Demerger To Sharpen Capital Allocation And Improve Return RatiosSeparation Of Hotel Biz Would Improve Overall Return Ratios By 200-250 bpsBofA Sec on ITCBuy RatingTarget Rs 500Strong Earnings Growth, Beats Estimates Again, 10% Rev Growth YoYCigarettes Remain Resilient With Stable Op Environment & Gain From Illicit TradeAnother Solid Show In Other FMCG & Better Agri Numbers Also HelpGS on ITCBuy RatingTarget Rs 500Q1 In-line With Est, EBITDA Grew 11% YoYCigarette Revenue Grew Double-digits Driven By VolumesFMCG Had An Exceptionally Strong QuarterHotels Growth Moderates, Paper Declines YoY, Agri Profits Grow StronglyJefferies on ITCBuy RatingTarget Rs 530Key Businesses Reported Strong MomentumCigarette Volumes Up 8% & FMCG Revenue Groth 16%Underlying Margin Epanded In Both, Other Segments Were Generally MixedThink Stock Continues To Offer Value & Provide High Earnings VisibilityMS on ITCOverweight RatingTarget Raised To Rs 493Q1 Ahead Of Estimates With Good Performance Across All DivisionsStrong Results & Improving Growth Outlook Augur Well For Continued OutperformanceExpect a Moderate Cigarette Tax Environment, +Ve Near-term Earnings & Attractive ValuationAugust 16, 2023 08:56Brokerage houses on Divi’s Labs
GS on Divi’s LabsBuy RatingTarget Rs 3,885Revenue/EBITDA Grew -9%/+3% QoQ, Implying A Miss EstGeneric API & Custom Synthesis Biz Declined Double-digits On A Sequential BasisMargin Continued To Recover Mainly On Account Of Improvement In GMsJefferies on Divi’s LabsBuy RatingTarget Raised To Rs 4,300Q1 Missed Estimates On Both Revenue & PATMargin Recovery Continued As Both Gross & EBITDA Margin ImprovedNear-term Growth Driver Will Be Ramp Up Of Sacubitril Valsartan Proj & Base Biz PdtNew Contrast Media Project Will Be Online By the End Of FY25HSBC on Divi’s LabsReduce RatingTarget Rs 2,890Rev Below Est, Co Saw Gross & EBITDA Margin Recover On Softening Input CostsCurrent Price Reflects Perfect Execution & Full Benefits From Future OpportunitiesAssume Business Recovery To Be A Long Drawn OutBoFA Sec on Divi’s LabsUnderperform RatingTarget Rs 3,150Rev In-line Reflecting Weak Export Print, Margin Higher That Est On GM BeatEst Double-digit Rev Growth & 31-35% Margin Over FY24-26 Building Base MomentumMedium-term Momentum Leave Little Margin For ErrorAugust 16, 2023 08:55UBS on Voda Idea
UBS on Voda IdeaNeutral RatingTarget Rs 7.7Q1market Share Loss ContinuesQ1 In-line On Rev & Operating Metrics, But Costs Were Higher Than ExpectedRevenue In-line With Est With ARPUs Up 3% QoQ To Rs139EBITDA Was 7% Below Est Due To Higher Subscriber Acquisition & Servicing CostsNet Loss Came In At Rs7,800 CrCITI on Voda IdeaNeutral1Q rev at Rs106.5bn (+1% qoq) were sightly (1%) ahead of est., argely driven by better ARPUNet loss widened qoq to -Rs78bn mainly due to a rise in interest costsCompletion of much-delayed capital raise remains crucialAugust 16, 2023 08:54JPMorgan on Infosys
Underweight RatingTarget Rs 1,150Announced Large Deal With Liberty Global (LG) With A TCV Of $1.6 Bn Over 5 YrsCo Has The Option To Extend Deal By Another 3 Yrs, Taking Deal Size To $2.5 BnDeal Is Likely To Be Margin-dilutive, On Lines Of Past Verizon/Daimler ContractsAnnual Rev From This Deal Should Avg $330 m, But Not Entirely Net NewDon’t Expect A Material Contribution To FY24, Could Add 70-90 bps To FY25 GrowthAugust 16, 2023 08:53Indian currency, debt markets closed for public holiday
India’s currency and debt markets will be closed on Tuesday, August 15 and Wednesday, August 16, for holidays.The markets will resume trading on Thursday, August 17.August 16, 2023 08:44Government raises windfall tax on crude oil, diesel, and jet fuel
The government on Monday raise the windfall tax on domestially-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel.The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday.It has also increased the levy on diesel from Rs 1 to Rs 5.50 per litre and on jet fuel from nil to Rs 2 per litre.The new rates will be applicable from August 15 onwards, the notification said.August 16, 2023 08:43Adani subsidiary to acquire full control of Quintillion Media
AMG Media Networks Limited, a wholly owned subsidiary of Adani Enterprises Limited has approved to enter into binding Memorandum of Undertaking with Quintillion Media Limited for the acquisition of remaining 51 per cent stake in QBML. Post acquisition of 51 per cent stake, QBML will become a wholly-owned subsidiary of AMNL.Earlier, the company in March had acquired 49 per cent stakeAugust 16, 2023 08:36Tejas Networks secures ₹7,492 crore order from TCS for BSNL’s 4G/5G network
Tejas etworks Limited has executed ith Tata Consultancy Services Limited, a related party of the company, the Master Contract towards supply, support and annual maintenance services for Radio Access Network equipment for BSNL’s Pan-India 4G/5G network. As a part of this contract, the Company received a Purchase Order Rs. 7,492 crore (excluding GST) from TCS towards supply of 4G/5G RAN equipment for approximately 100,000 sites.August 16, 2023 08:33Shares of SBFC Finance will be listed today
Shares of SBFC Finance will be listed at the bourses today. The company has fixed the issue price at Rs 57, at the upper end of the price band rs 54-57. The Rs 1,025-crore initial public offering of SBFC Finance saw an overwhelming response from all category of investors by subscribing over 70 times.The category for Qualified Institutional Buyers (QIBs) was subscribed a whopping 192.90 times while non-institutional investors quota received 49.09 times subscription. The portion meant for Retail Individual nvestors (RIIs) got subscribed10.99 times and employee by 5.87 times.August 16, 2023 08:31Dividend Dates
Ex-Dividend 17 August 2023 (Tomorrow)Last date for Cum-Dividend TodayAction Construction Equipment Ltd.Dividend Per Share Rs.1Previous day Closing Price – Rs. 770.15Bharat Electronics Ltd.Dividend Per Share Rs.0.6Previous day Closing Price – Rs. 130.5Benares Hotels Ltd.Dividend Per Share Rs.20Previous day Closing Price – Rs. 5048.55Heranba Industries LtdDividend Per Share Rs.1.25Previous day Closing Price – Rs. 359.4I G Petrochemicals Ltd.Dividend Per Share Rs.10Previous day Closing Price – Rs. 457.2Industrial & Prudential Investments Co. Ltd.Dividend Per Share Rs.60Previous day Closing Price – Rs. 2914.2India Pesticides LtdDividend Per Share Rs.0.75Previous day Closing Price – Rs. 217.75IL&FS Investment Managers Ltd.Dividend Per Share Rs.0.8Previous day Closing Price – Rs. 8.81Jammu & Kashmir Bank Ltd.Dividend Per Share Rs.0.5Previous day Closing Price – Rs. 77.75J.B. hemicals & Pharmaceuticals td.Dividend Per Share Rs.9.25Previous day Closing Price – Rs. 2677.65Vedant Fashions LtdDividend Per Share Rs.9Previous day Closing Price – Rs. 1265.6Neelamalai Agro Industries Ltd.Dividend Per Share Rs.30Previous day Closing Price – Rs. 3372.85Relaxo Footwears Ltd.Dividend Per Share Rs.2.5Previous day Closing Price – Rs. 929.95Shilchar Technologies Ltd.Dividend Per Share Rs.10Previous day Closing Price – Rs. 2406.6South Indian Bank Ltd.Dividend Per Share Rs.0.3Previous day Closing Price – Rs. 21.22V-Guard Industries Ltd.Dividend Per Share Rs.1.3Previous day Closing Price – Rs. 307.4The Yamuna Syndicate LtdDividend Per Share Rs.325Previous day Closing Price – Rs. 17822August 16, 2023 08:29Suzlon share allotment to QIBs
Suzlon has allotted 113,96,01,13 shares at the issue price of Rs 17.55 to QIBs. Shares allottees to:BNP PARIBAS 11.45%BANDHAN MF 10.50%GOLDMAN SACHS FUNDS 6.81%HDFC MF 5.00%INVESCO FUNDS 6.50%MAX LIFE INS 7.00%ICICI PRU FUNDS 7.50%August 1, 2023 08:27Realty stocks in Focs: New PM Scheme aims to help urban renters build own homes
Real estate stocks are likely to remain in focus as, the Prime Minister Narendra Modi, on Tuesday said the government would launch a new scheme to help those living in rented houses in cities to build their own homes.In his Independence Day speech from the ramparts of the Red Fort, PM Modi said: “The weaker sections living in the cities face a lot of problems. Middle-class families are dreaming of buying their own houses. We are coming up with a new scheme in the coming years that will benefit those families that live in cities but are living in rented houses, slums, chawls, and unauthorised colonies. If they want to build their own houses, we will assist them with relief in interest rates and loans from banks that will help them save lakhs of rupees.”August 16, 2023 08:26Caplin Point mulls ₹550-crore capex to expand its existing capacities
Caplin Point is working on ₹550-crore capex to expand ts existing capacities and to buid new facilities for export to regulated markets like the US.August 16, 2023 08:25Emkay Global Financial’s Q1 review on FMCG companies
FMCG companies put up a low-key show on the topline front in Q1FY24, where pricing growth anniversarized and volume growth was lackluster (sector volume growth stood at 7.5%, but only 0-4% for our coverage companies, except GCPL that saw 12% growth). However, from the margin perspective, there has been healthy recovery, driven by easing in raw-material costs. Earnings delivery was relatively better, with improvement in margins. Going ahead, companies would strive for growth in volume over margin. We believe rational competition would be key for structural recovery and earnings growth. We remain positive on GCPL, ITC and Britannia, while avoiding Colgate.August 16, 2023 08:24SEBI proposes changes to delisting mechanism, mulls fixed pricing
The Securities and Exchange Board of India has proposed changes to the voluntary dlisting mechanism on Monday, incluing alternatives to the reverse book building (RBB) framework. In a consultation paper SEBI mooted a fixed pricing concept for delisting of shares. Regulator also tweaked norms for the reverse book building process and counter-offer mechanim.August 16, 2023 08:22SEBI Bars Punit Goenka and Subhash Chandra from Key Roles at Zee
The Securities and Exchange Board of India has issued a confirmatory order on the case barring Punit Goenka and Subhash Chandra from key managerial and executive positions at Zee Entertainment Enterprises. As per the confirmatory order, SEBI has eight months to complete its investigation on the matter of misappropriation by the father-son duo. The order avers that Punit Goenka and Subhash Chandra will not hold position of a director or KMP in Zee Entertainment and other three other group companies until further directionAugust 16, 2023 08:20VIP Industries MD resigns; Neetu Kashiramka named MD designate and CFO
Anindya Dutta, Manaing Director of VIP Industries Limied has tendered his resignation on August 14, which will be effective from the close of business hours on November, 13, 2023. Further, the board on Tuesday has appointed Neetu Kashiramka as the Managing Director Designate and Chief Financial Officer, with effect from August 15. Ms. Neetu Kashiramka shall take over as the Managing Director and Chief Financial Officer of the Company with effect from November 14, subject to Shareholder’s approval.August 16, 2023 08:19Nagarjuna Fertilizers to sell urea and micro-irrigation units to Greenko Group
Hyderabad-headquartered Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has said that it has decided to sell its urea and micro-irrigation businesses to AM Green Ammonia (India) Pvt Ltd, a firm owned by one of India’s largest renewable energy players Greenko Group, for a gross consideration of Rs 1,700 crore (Rs 1365 crore and 19.7 per cent stake worth Rs 365 crore with a call option) on a slump sale basis. This cmes three months after Asset Care an Reconstruction Enterprise Ltd (ACRE), an asset reconstruction company, purchased NFCL’s debt from the lenders and issued a demand notice under the provisions of the SARFAESI Act.August 16, 2023 08:17JHS Svendgaard plans amalgamation with Vedic Cosmeceuticals
JHS Svendgaard Laboratories Limited has analysed and discussed the proposal for consolidation of business of the Company and Vedic Cosmeceuticals Private Limited. After due discussion on the proposed consolidation of business, the Board in-principally agreed to the Amalgamation of the Company and VCPL under the Scheme of Arrangement for amalgamation to be entered into between the Company and VCPL, their respective promoters/shareholders and creditors.August 16, 2023 08:16Himalya Food plans strategic shift and expansion amid financial challenges
Himalya Food International has informed the exchanges that it’s Chairman and Managing Director informed the Board about the strategy document to surmoun the acute financial stress after theFire last year. He further apprised the Board that the report has highlighted urgent steps to meet the cashflow required to pay balance OTS amount to banks and simultaneously supplement working capital to fulfil pending export and domestic orders; the company is proposing to shift the operation unit located at Shubhkhera, Paonta Sahib and sell the land of the unit as housing real estate and use the funds for operations, relocation and expansion of business due to concerns raised by local residents; and the lead bank SBI and the consortium of banks are willing to extend the period for payment of balance OTS amount of around Rs. 35 crores by the end of current financial year. Further, the Company’s funds are depleted due to force majeure issues of covid and fire in the Gujarat plant in May 2022.August 16, 2023 08:14Liberty Global and Infosys expand collaboration for digital innovation
Liberty Global plc, one of the world’s leading converged video, bradband and communications companies, ad Infosys have expanded their collaboration to evolve and scale Liberty Global’s cutting-edge digital entertainment and connectivity platforms. The parties have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond. Infosys will provide services to Liberty Global estimated at €1.5 billion over the initial 5-year term and at €2.3 billion if the contract is extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings in excess of €100 million per annum, inclusive of other savings and technology investments.August 16, 2023 08:12HCLTech chosen for Cricket Australia’s digital transformation
HCLTechnologies, a global technology company, announced that it has been selected by Cricket Australia (CA), the national governing body for the game in Australia, for the next phase of CA’s digital transformation. HCLTech has been a digital transformation partner to Cricket Australia since 2019. As partof the latest agreement, HCLTech will eable Cricket Australia to deliver immersive digital experiences to fans, players, partners, employees and volunteers across the world.August 16, 2023 08:11Stocks in F&O Ban: 16.08.2023
BALRAMCHIN CHAMBLFERTDELTACORPGNFCGRANULESIBULHSGFININDIACEMMANAPPURAMZEELAugust 16, 2023 08:05Sensex, Nifty to open weak amid global cues and inflation worries
Domestic markets are likely to open on weak note on Wednesday. Negative global cues and unfavourable macro-economic numbers such as inflation and trade deficit figures will keep market under pressure, said analysts. They also advise traders to take note of aggressive selling by foreign portfolio investors in the last few days.Gift Nifty at 19,380 indicates a gap down opening of about 100 points, as Nifty August futures on Monday closed at 19,478. According to analysts, banking stocks will come under pressure on inflation worries and downgrade warning by Fitch Ratings.August 16, 2023 07:58Buzzing stocks:Stocks that will see action today: Augus 16, 2023
Interglobe Aviation, Infosys, HCL Technologies, M&M, Vodafone Idea, Shriram Properties, GSS Infotech, Zee Enterprises, VIP Industries, Himalya Food International, JHS Svendgaard , Ashok Leyland, Nagarjuna FertilizersAugust 16, 2023 07:51Conference call: Researchbytes Events Update
Researchbytes Events UpdateAs of 06:59 AM Wednesday 16 August 2023Can set alert for them at www.researchbytes.com8:30 AM Patanjali FoodsDial: +91 22 6280 1342Weblink: https://shorturl.at/ehjlM10:30 AM KNR ConstructDial: +91 22 6280 1309Weblink: https://tinyurl.com/4y4wzynb11:00 AM Marathon RealtyDial: +91 22 6280 1107Weblink: https://tinyurl.com/3px8fazf11:00 AM Vinati OrgDial: +91 22 6280 1222Weblink: https://tinyurl.com/yujt2pkv11:30 AM Capacite InfraDial: +91 22 6280 1545Weblink: https://tinyurl.com/sp33tc3212:00 PM S P ApparelsDial: +91 22 6280 1146Weblink: https://tinyurl.com/bp894vbs12:00 PM Satia IndDial: +91 22 6280 153512:30 PM SiyaramDial: +91 2 6280 1550Weblink: https://tinyurl.com/5nrsrks1:00 PM Hindustan FoodsDial: +91 22 6280 1309Weblink: https://tinyurl.com/3j3y2ey71:30 PM Borosil .Dial: +91 22 6280 1455Weblink: https://tinyurl.com/hfak6fbw2:00 PM AhluwaliaDial: +91 22 6280 1148Weblink: https://tinyurl.com/4npr35jm2:30 PM Techno ElectricDial: 91 22 6280 1317(Hosted by Amsec)4:00 PM Everest Kanto(Results, Investor/Analyst Presentation, Press Release )Dial: +91 22 6280 11414:00 PM PPAP AutomotiveDial: +91 22 6280 1309Weblink: https://tinyurl.com/bdhv5tv4*4:00 PM Salasar Techno *Dial: +91 22 6280 1395Weblink: https://tinyurl.com/3sds2vf44:00 PM Advanced EnzymeDial: +91 22 7195 00004:00 PM J. K. CementDial: +91226280 11434:00 PM Rico AutoDial: 91 22 6280 1268Weblink: https://tinyurl.com/58ahsu7d5:00 PM Gabriel IndiaDial: +91 22 6280 1309Weblink: https://tinyurl.com/yc2huf4p5:00 PM Elgi EquipmentsDial: +91 22 6280 1317(Hosted by Amsec)Indiabulls Hsg :(replay)https://www.researchbytes.com/webcast.aspx?WID=282253Jash Engineeri :(replay)https://www.researchbytes.com/wecast.aspx?WID=282257Easy Trip Plann :(replay)https://www.researchbytes.com/webcast.aspx?WID=282252Astra Micro :(replay)https://www.researchbytes.com/webcast.aspx?WID=282251Saksoft :(replay)https://www.researchbytes.com/webcast.aspx?WID=282240Meghmani Org :(replay)https://www.researchbytes.com/webcast.aspx?WID=282249Eveready :(replay)https://www.researchbytes.com/webcast.aspx?WID=282244Shriram Properties :(replay)https://www.researchbytes.com/webcast.aspx?WID=282230Orchid Chem :(replay)https://www.researchbytes.com/webcast.aspx?WID=282225Styrenix Performance Materials :(replay)https://www.researchbytes.com/webcast.aspx?WID=282233Results today…https://www.researchbytes.com/Default.aspx?cc=resultRecent interviews…https://www.researchbytes.com/Default.aspx?cc=interviewReplays available at www.researchbytes.comAugust 16, 2023 07:49Repco Home Finance aims ₹14,000 crore in AUM by FY24
Riding on the growth momentum in the home loan segment, Repco HomeFinance has set a target of 20 per cent yea-on-year (y-o-y) growth in loan disbursements and 12 per cent growth in total assets in the current fiscal. August 16, 2023 07:48Instant coffees drive India’s coffee exports in April-July
Indian coffee exports have increased by 6 per during April-July at $451.94 million on higher prices and increased demand for instant coffee from countries such as Russia and Turkey. This is despite the decline in the purchases of Indian green coffee by traditional buyers in Europe.August 16, 2023 07:45NHPC’s capital expenditure to rise by 38% in FY24, aiming for top 10 global hydropower ranking
State-run hydropower majorNHPC’s capital expenditure (capex) will go up by 38 per cent Y-o-Y to ₹10,800 crore in the current financial year, its CMD R K Vishnoi said on Tuesday.August 16, 2023 07:44Food price trends: Vegetable prices decrease, but inflation concerns persist for cereals and pulses
Vegetable prices may have slowly started decreasing, but other food prodcts, including cereals, pulses, spices and mlk may only give comfort for a while. The expectation is that August inflation could be in the range of 6.5 to 7.2 per cent.August 16, 2023 07:42 ‘No plans to reconsider rice export ban as food inflation spikes’
With food inflation hitting a 39-month high in July 2023, the Centre is not in a position to reconsider the recent export ban on non-basmati rice as ensuring food security within the country remains top priority, top officials have said.August 16, 2023 07:41M&M showcases its Thar.e and Global Pik Up in Cape Town
Indian automaker Mahindra & Mahindra unveiled the Thar.e and its Global Pik Up in Cape Town, South Africa, on August 15. The Thar.e will be on the company’s INGLO electric platform with AWD electric powertrain and incorporate 50 per cent recycled PET and uncoated plastics. August 16, 2023 07:38SME IPOs gain momentum with massive subscriptions and listing gains
Even while the south-west monsoon has been playing truant,it has been raining money at the primary issunces counter on the Small and Medium Enterprises-dedicated exchanges of NSE Emerge and BSE SME platforms, with issues getting massively oversubscribed and good listing gains. August 16, 2023 07:37Investment Revival. IPO market gears up with ₹70,000 crore in waiting, says Kotak’s S Ramesh
After a tepid start in 2023, the IPO market looks to perk up with over ₹70,000 crore worth of IPOs in the pipeline and 70 companies waiting to raise funds. “We do see a renewed opportunity to launch IPOs and hence we believe a lot of the pipeline will be cleared,” S Ramesh, MD & CEO of Kotak Mahindra Capital Company told businessline in a recent interaction. August 16, 2023 07:33Block deal: IndiGo co-founder looks to sell 4% stake
IndiGo co-founder Rakesh Gangwal is looking to raise over ₹3,730 crore by paring down his stake in the airline via block trade scheduled for Wednesday.Gangwal has offered around 15.6 million shares for sale equal to 4 per centstake in the airline at a floor price of ₹2,40 per share.August 16, 2023 07:31Day Trading Guide for August 16, 2023: Intraday supports, resistances for Nifty50 stocks
Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC August 16, 2023 07:27Stock to buy today: Bank of India (₹89.69)
The short-term outlook is bullish for Bank of India. The stock rose 2.8 per cent on Monday, breaking above the key resistance level of ₹87. The moving average cross-overs on the daily chart also strengthens the bullish case.August 16, 2023 07:26Wall St ends lower; strong retail sales stoke interest rate worries
Wall Street’s main stock indexes closed sharply lower on Tuesday after stronger-than-expected retail sales data stoked worries interest rates could stay higher for longer, while U.S. big banks dropped on a report that Fitch could downgrade some lenders.August 16, 2023 07:25Fitch warns it may be forced to downgrade multipl banks, including JPMorgan – CNBC
An analyst atFitch Ratings warned that U.S. banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday.August 16, 2023 07:15China’s economic worries deepen Asian investor sentiment; US banks face downgrade threat
Amid US downturns driven by inflation and growth worries, Asian markets declined, dampening risk sentiment. Benchmark indexes slipped in Japan, South Korea, and Australia. Hong Kong equity futures also fell, while US futures remained stable. China’s economic concerns deepen, affecting Wednesday’s Asian investor sentiment. Wall Street’s main indices dropped S&P 500 -1.16%, Nasdaq -1.14%, Dow -1.02% due to robust retail sales sparking prolonged interest rate concerns and Fitch’s potential US bank downgrades, paralleling Moody’s recent downgrades’ impact on lenders. – Agencies
Comments
SHARE
Copy linkEmailFacebookTwiterTelegramLinkedInWhatsAppRedditPublished on Augst 16, 2023 Related Topics
stock market
stocks and shares
stocks and bonds
financial markets
COMMENT NOW
Comments will be moderated by The Hindu BusinessLine editorial team.
Comments that are abusive, personal, incendiary or irrelevant cannot be published.
Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters,
or using abbreviated text. (example: u cannot substitute for you, d is not ‘the’, n is not ‘and’).
We may remove hyperlinks within comments.
Please use a genuine email ID and provide your name, to avoid rejection.
userIdentify.then(function() {
if(isDeviceEnabled(“small”) && isNonSubcribedUser()) {var slotName = ‘div-gpt-ad-1683025170203-0’;
try {
const parent = document.querySelector(“#ControlPara”).firstElementChild
const filtered_divs = […document.querySelectorAll(“#ControlPara p”)].filter(el => el.parentNode == parent)
if (filtered_divs[1]) {
var newElement = document.createElement(‘div’);
newElement.id = slotName;
newElement.setAttribute(“class”, “dfp-ad text-center element no-border hide-system”);
newElement.style.minHeight= “280px”;
filtered_divs[1].parentNode.insertBefore(newElement, filtered_divs[1].nextSibling)
}
} catch (err) {
console.log(“ad error”)
} googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1683025170203-0’); });
}});
userIdentify.then(function() {
if(isDeviceEnabled(“large”) && isNonSubcribedUser()) {var slotName = ‘div-gpt-ad-1683024245694-0’;
try {
const parent = document.querySelector(“#ControlPara”).firstElementChild
const filtered_divs = […document.querySelectorAll(“#ControlPara p”)].filter(el => el.parentNode == parent)
if (filtered_divs[4]) {
var newElement = document.createElement(‘div’);
newElement.id = slotName;
newElement.setAttribute(“class”, “dfp-ad text-center d-lg-block d-none element bill-board-ad no-border py-2 mb-3 hide-mobiletext-center”);
newElement.style.minHeight= “286px”;
filtered_div[4].parentNode.insertBefore(newElement, filtered_divs[4].nextSibling)
}
} catch (err) {
console.log(“ad error”)
} googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1683024245694-0’); });
}});
userIdentify.then(function() {
if(isDeviceEnabled(“small”) && isNonSubcribedUser()) {var slotName = ‘div-gpt-ad-1683025224654-0’;
try {
const parent = document.querySelector(“#ControlPara”).firstElementChild
const filtered_divs = […document.querySelectorAll(“#ControlPara p”)].filter(el => el.parentNode == parent)
if (filtered_divs[4]) {
var newElement = document.createElement(‘div’);
newElement.id = slotName;
newElement.setAttribute(“class”, “dfp-ad element no-border hide-system text-center”);
newElement.style.minHeight= “280px”;
filtered_divs[4].parentNode.insertBefore(newElement, filtered_divs[4].nextSibling)
}
} catch (err) {
console.log(“ad error”)
} googletag.cmd.ush(function() { googletag.display(‘div-gpt-ad-1683025224654-0’); });
}});
userIdentfy.then(function() {
if(isDeviceEnabled(“small”) && isNonSubcribedUser()) { googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1683025254683-0’); });
}});
