Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
A sum of Rs 2,600.99 has been been allocated for the construction of non-residential office buildings, including the Parliament and Supreme Court of India. For residential purposes, the ministry has been given Rs 873.02 crore.
ITC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by Asian Paints, Hero MotoCorp, Maruti, Bajaj Auto, Sun Pharma, TCS and HCL Tech. On the other hand, IndusInd Bank, NTPC, Bajaj Finance, HDFC and L&T were among the laggards. NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25.
Bharti Airtel was the top gainer in the Sensex pack, rallying around 11 per cent, followed by ONGC, UltraTech Cement, ITC, PowerGrid and NTPC. On the other hand, IndusInd Bank, Reliance Industries, L&T and SBI were among the laggards.
Acquisitions are done to synergise with existing offerings of firms; to strengthen or enter new areas, platforms or geography; find new customers for its products; keep parts of the acquired organisation, perhaps the digital in the case of Mindtree, and to sell others to increase its own value. Never is it to grow the acquired organisation more than itself, says Pankaj Chandra.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
'Revival is happening slowly.' 'But that is, if the pandemic is controlled.'
After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 per cent, lower at 37,531.98. It hit an intra-day low of 37,480.53 and a high of 37,919.47.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers. On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.
He would not be part of the day-to-day activities of L&T in his non-executive role. He would, however, be there at important company events.
The Reserve Bank of India (RBI) clarification on the final norms for new bank licences has much to mull on for the many entities interested. It has clearly ruled out any benefit to the new entrants in terms of more time to meet the cash reserve ratio/statutory liquidity ratio (CRR/SLR) requirements.
The one-year returns for equity-oriented mutual fund (MFs) schemes have largely mirrored the gains made in the secondary market. However, schemes that invest in infrastructure (infra), small-cap, and public sector undertaking (PSU) banks have emerged standout performers, with gains in excess of 100 per cent in some cases. Of the total 484 equity schemes, 353 have managed to beat the Sensex, reveals the data provided by Value Research. Around 20 have delivered returns in excess of 90 per cent and six schemes have given returns of over 100 per cent in the past one year. The S&P BSE Sensex Total Return Index (TRI) has given returns of 51 per cent in the last one year, ended October 29.
HDFC Equity, the largest equity fund, also managed by Prashant Jain, with a corpus of Rs 10,445 crore, has 9.4 per cent of its assets in SBI.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
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ICICI Bank was the top gainer in the Sensex pack, rising around 4 per cent, followed by UltraTech Cement, Sun Pharma, Bharti Airtel, HUL, SBI, L&T, Axis Bank and IndusInd Bank. On the other hand, Reliance Industries, Bajaj Finserv, HCL Tech and HDFC were among the laggards.
Top gainers in the Sensex pack included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and L&T, which rose up to 2.97 per cent.
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Shares of the company were trading at Rs 1240.10 apiece on the BSE at 1350 hours, down 1.23 per cent from the previous close.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 per cent.
Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
Investments by private equity and venture capital funds into Indian entities fell by 69 per cent to $3 billion during July, a report said on Wednesday. The investments in July are the lowest for any month in a year, and lower than the $4.9 billion recorded across 118 deals in the preceding month of June, the report by industry lobby IVCA and consultancy firm EY said. Going by the number of deals, July 2022 recorded 74 deals, as against 134 deals in the year-ago period, the report said.
A person familiar with the matter said the deal could be finalised in a month.
Expert advice on what you should do with these stocks
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
MEIL has become one of the fastest growing and most successful infrastructure and engineering, procurement, and construction companies in the country in recent times.
Investors' wealth jumped Rs 2,93,054.25 crore on Thursday as markets returned to winning ways after falling for three straight sessions. The 30-share BSE benchmark Sensex zoomed 638.70 points or 1.22 per cent to close at 52,837.21. During the day, it gained 668.75 points to 52,867.26. Tracking the bullish trend, the market capitalisation of BSE-listed companies jumped Rs 2,93,054.25 crore to reach Rs 2,33,94,917.25 crore.
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
L&T was the top gainer in the Sensex pack, spurting over 6 per cent, followed by Hero MotoCorp, HDFC Bank, IndusInd Bank, Maruti, HDFC and HCL Tech. On the other hand, ITC, SBI and Bharti Airtel ended in the red.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
L&T was the top gainer in the Sensex pack, rallying 4.81 per cent, followed by M&M, Sun Pharma, Tech Mahindra, NTPC, SBI, ICICI Bank and Titan.
The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five's current P/E multiple of around 31x.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
Investor wealth on Wednesday tumbled over Rs 3.27 lakh crore as markets witnessed massive selling pressure amid rising coronavirus cases in the country. The BSE benchmark index plunged 871.13 points or 1.74 per cent to close at 49,180.31. During the day, it declined 931.1 points to 49,120.34. Following the weak trend, the market capitalisation of BSE-listed companies tumbled Rs 3,27,967.71 crore to reach Rs 2,02,48,094.19 crore at the close of trade.
The withdrawal of offer letters is an indication that the company might have overestimated its future business after giving offer letters.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Bajaj Finance was the top laggard in the Sensex pack, dropping over 9 per cent, followed by Axis Bank, IndusInd Bank, HDFC, ICICI Bank and M&M. Reliance Industries, however, capped the losses by rallying over 3 per cent. Sun Pharma, Hero MotoCorp, L&T, PowerGrid and Bajaj Auto were also among the gainers.
