Eight of the 10 most valued firms together added Rs 98,234.82 crore in market valuation last week, with IT majors Infosys and TCS emerging as the biggest gainers amid a positive momentum in equities. Last week, the BSE benchmark Sensex advanced 817.68 points or 1.42 per cent. The market valuation of Infosys jumped Rs 28,170.02 …
Strong profit of Rs 29 bn (c9% q-o-q) in Q1 driven by record marketing Ebitda of Rs 24 bn had little meaning as supply disruption in the current quarter puts future earnings at risk. Company indicated that its LNG cargoes from Gazprom Marketing and Trading Singapore (2.5mmtpa contract) have been disrupted since June and will …
Our cement coverage reported an 18% y-o-y fall in Q1FY23 Ebitda (4% beat) on cost pressures. The small beat was driven by better realisation. Petcoke, a key cost, is down >30% vs the Q1 avg. and will likely reduce cost pressure in Q3FY23. Soft cement prices should be reflected in weak Q2 profitability, but the …
BSE Sensex and NSE Nifty 50 likely to jump on Thursday, a day of weekly F&O expiry, following the better-than-expected US inflation data. SGX Nifty 50 Index Futures for August were trading at 17,747, up 200.50 points or 1.14 per cent up on Singaporean Exchange in early trade. Asian peers were also seen trading higher …
Adani Power share price soared 5 per cent to a new 52-week high of Rs 419 apiece on Friday, taking its rally so far in 2022 to 307 per cent. With today’s gain, Gautam Adani group firm has overtaken state-run NTPC in market capitalisation. Technical analysts say that Adani Power stock now remains steeply overextended …
Mandi prices of onion, garlic and tomato have witnessed a sharp decline compared to last year as supplies improved on the back of more than adequate monsoon rains in key producer states of Maharashtra, Karnataka, Andhra Pradesh and Madhya Pradesh. Traders say that prices of these key agricultural commodities are expected to remain depressed in …
At a time when rural consumption remains tepid, buoyancy in urban consumption primarily caused consumer durables production to spike to a 14-month high in August, say experts. As per the August Index of Industrial Production (IIP) data – consumer durables output rose 5.7% year-on-year. In the past 14 months, the sector’s output has contracted year-on-year …
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, …
By Ashley Coutinho The Securities and Exchange Board of India (Sebi) plans to allow brokers to extend the margin trading facility (MTF) to equity exchange traded funds (ETFs). At present, only select stocks that fall under Group 1 securities are offered the MTF facility by brokers. Globally, however, ETFs can be purchased on margin, even …
Rakesh Jhunjhunwala stock Star Health and Allied Insurance Company has rallied more than 50% in a month and analysts see more upside on the stock going forward. After Star Health’s fiscal first quarter results, brokerage firms have maintained their ‘Buy’ ratings, remaining optimistic on the overall prospects of the insurance company. Star Health shares were …