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Feb 8, 2023 4:06 PM

Share Market Updates | Neeraj Deewan on stocks

"IndusInd Bank, which we've been tracking, came to very attractive levels. So IndusInd Bank from the banking space is something which we added. And even the NBFC space among the housing finance companies, Home First Finance is the other one we added. And like I mentioned, from the rice companies, which we track, KRBL and Daawat are the ones which we picked up. In the cement space, companies like UltraTech Cement, which also created with the market correction, and in the infrastructure space, NCC, Larsen and Toubro (L&T) these are the companies which we've added and which we feel next six months to one year, with the market improving, we can see some returns coming from there," says Neeraj Deewan, Director, Quantum Securities.

Feb 8, 2023 4:06 PM

Market at Close | Sensex and Nifty 50 end Wednesday's session higher

-- 6 of 10 Adani group stocks post gains for the second straight session, Adani Ent up 23 percent.

-- Paytm ends over 15 percent higher on Macquarie rating upgrade and Jan business update

-- TCS rises over one percent as Phoenix group expands partnership with company valued at >£600 m

-- Intellect Design up over five percent as company announces collaboration with amazon web services.

-- Cement companies rally after FM says fitment panel to review GST rate on cement.

-- Hero MotoCorp ends 1.5 percent lower on weak December quarter results and despite positive management commentary.

-- Shree Cement ends flat after seeing a sharp fall post in-line quarterly results

-- Adani Wilmar ends five percent higher following strong December quarter earnings report

-- Market breadth favours advances, advance-decline ratio at 2:1

Feb 8, 2023 3:37 PM

Rupee Close | Rupee ends 21 paise higher at 82.49 vs the US dollar

Feb 8, 2023 3:35 PM

Stock Market News | Airtel announces strategic partnership with Vultr

The teleco in an exchange filing announced strategic partnership with privately-held cloud computing company Vultr to offer cloud solutions to enterprises in India. Airtel will offer Vultr’s extensive suite of cloud solutions to its enterprise customers, especially those in the digital space and help them gain unrivaled global reach and cost-performance advantage to build, test, and run demanding cloud workloads.

Feb 8, 2023 3:30 PM

Share Market Update | Julius Baer's Rupen Rajguru on earnings

"The third quarter earnings have been a mixed bag. I think the big shining star in the quarterly earnings are financials and we have seen record profits from both public sector banks as well as private sector bank. While we have financials and automobiles which have done exceedingly well in this quarterly earnings, but clearly we have seen the some of the consumer, consumer discretionary companies are facing a bit of headwinds. So, be it select QSR, retail have shown some signs of struggle in this quarter. So while on an aggregate basis, because of very strong numbers by financials, I don't see a significant cut in Nifty earnings estimate for this year," says Rupen Rajguru, Head of Equity Investment & Strategy, Julius Baer.

Feb 8, 2023 3:13 PM

Stock Market Update | Adani Wilmar reports December quarter earnings

The company reported a net profit fo Rs 246.2 crore, up 16.5 percent vs Rs 211.4 crore year-on-year. The company's revenue for the period under review rose 7.4 percent at Rs 15,438.1 crore vs Rs 14,370.9 crore in the year-ago period. EBITDA up 20.2 percent at Rs 605.3 crore vs Rs 503.6 crore year-on-year. Margin came at 3.9 percent vs 3.5 percent year-on-year.

Feb 8, 2023 3:06 PM

Nifty 50 Live Update | Adani Enterprises surges more than 17%, top Nifty 50 gainer

The Adani Group flagship company, which is up 17.8 percent, is the top Nifty 50 gainer at this hour, trading at Rs 2,123.6. The 20-day moving average of the stock now stands at 2,999.26. The current trading price is 49.58 percent off 52-week high.

Feb 8, 2023 2:55 PM

Share Market Update | Kush Bohra on Apollo Hospital

"Technically speaking, the stock has taken support at its 200 day moving average, it does bounce back, and when it does, it bounces back sharply. My suggestion would be hold on. What you could do is have a very tight trailing stop loss at around Rs 4,300 or 4,280 zones. Once the stock bounces back Rs 4,450 which is buying price is my first target, and Rs 4,600 is my second target. There is very clearly momentum building up in the stock in the last couple of sessions. So hold on to this one," says Kush Bohra, Founder, kushbohra.com.

Feb 8, 2023 2:46 PM

Stock Market News | Adani Ports catalyst trusteeship releases pledge on 7.79% Adani Ports shares on February 7

The shares of the Adani group company are up 7.5 percent at this hour.

Feb 8, 2023 2:44 PM

Share Market Update | Symphony reports December quarter earnings

The company reported a net profit of Rs 39 crore, up 85.7 percent year-on-year. The revenue rose 35.1 percent to Rs 277 crore vs Rs 205 crore year-on-year. EBITDA came 46.7 percent up at Rs 44 crore and margin at 15.9 percent vs 14.6 percent year-on-year.

Feb 8, 2023 2:24 PM

Here is why banking stocks declined after the RBI MPC announcements

Banking stocks trimmed early gains in morning trade on Wednesday with the Nifty Bank declining around 390 points from the day’s high after the RBI raised the key short-term lending rate by 25 basis points to a four-year high of 6.5 percent. Among major losers, Bank of Baroda declined by 0.53 percent to Rs 167.65, IDFC First Bank by 0.42 percent to Rs 59.65 and Axis Bank by 0.37 percent to Rs 875.85 on NSE. Read more

Feb 8, 2023 2:08 PM

Shree Cement reports Q3 results

Net profit for the October-December quarter declined down 44 percent at Rs 276 crore as compared to Rs 492 crore in the corresponding period a year ago.

Feb 8, 2023 1:49 PM

Paytm up nearly 9% after Macquarie upgrade

Shares of One 97 Communications the parent company of Paytm climbed nearly 9 percent in early morning trade after global brokerage firm Macquarie upgraded Paytm stocks to outperform, and raised the target price by 80 percent to Rs 800 from Rs 450. Read here

Feb 8, 2023 1:32 PM

Expect sequential revenue improvement backed by multiple product launches, Hero MotoCorp

Hero MotoCorp reported its financial earnings results for the October-December quarter on February 7, 2023. The two-wheeler reported a 6.3 percent year-on-year (YoY) increase in net profit at Rs 711.1 crore for the third quarter that ended December 31, 2022. Read more details here.

Feb 8, 2023 1:14 PM

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