By Nagaraj Shetti The range-bound action continued in the market on Wednesday and the Nifty 50 closed the day lower by 27 points amidst a range-bound movement. After opening lower on Wednesday, the market slipped into further weakness soon after the opening. It later shifted into a gradual upside recovery for the better part of […]
By Nagaraj Shetti After witnessing a massive sell-off during the later part of Tuesday’s trade, Nifty showed a sustainable upside bounce on Wednesday and closed the day higher by 177 points. After opening with an upside gap of 87 points (body gap, not a western gap), the market showed range movement with a positive bias […]
Pune-based leading forging firm, Bharat Forge Q3FY23 standalone revenue of Rs 1,950 crore +22% y-y was 1-3% was above our forecast and the Bloomberg consensus estimate. Ebitda margin at 25.3% was impacted by -40 bp q-q decline in raw material (RM)/sales at 44.1%. Overseas subs Ebitda margin remained weak at -5.8%. Management commentary: Our view: […]
Domestic indices were trading broadly in green in the opening trade on Wednesday as investors waited for the Budget announcement which is scheduled to be presented today by Finance Minister Nirmala Sitharaman. The BSE Sensex rose 539.99 points or 0.91% to 60,089.89 and the Nifty 50 gained 143.70 pts or 0.81% to 17,805.85. The top […]
Sebi has imposed a penalty totalling Rs 20 lakh on Future Corporate Resources, Kishore Biyani and 13 others for failing to make a public announcement of an open offer to the shareholders of Praxis Home Retail. They have been asked to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) […]
Stocks eased on Wednesday, while the dollar was under a little pressure, as traders shifted focus from U.S. banking stress to expectations for an imminent peak in the Federal Reserve‘s interest rate cycle. MSCI’s index of Asia shares outside Japan dropped 0.5% to retreat further from Monday’s two-month high, and in morning trade Japan’s Nikkei […]
Indian equity indices ended Wednesday’s session in the red territory. The Sensex closed below 60,700 while the Nifty settled below 18,100. The top gainers of the BSE Sensex were Maruti (up 0.22%) and TCS (up 0.10%) while Tata Steel (down 2.32%), Tata Motors (down 2.09%), Power Grid (down 1.99%), Wipro (down 1.83%) and Infosys (down […]
Russian President Vladimir Putin extended an invitation to Indian Prime Minister Narendra Modi during his meeting with External Affairs Minister S Jaishankar in Moscow on December 27. In the meeting, President Putin expressed his eagerness to welcome Prime Minister Modi to Russia, highlighting the opportunity to discuss current issues and explore the prospects for the […]
If 2022 was the year when US equities suffered multiple contractions from monetary tightening, the year 2023 would be the one when earnings downgrades will hit the stock markets if the US recession forecast proves to be accurate. This is now the key issue in world financial markets, said Christopher Wood, global head of equity […]
More than a dozen Israeli soldiers were killed in combat in the Gaza Strip over the weekend, the Israeli military said Sunday, in some of the bloodiest days of battle since the start of Israel’s ground offensive in late October and a sign that Hamas is still putting up a fight despite weeks of brutal […]
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