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May 3, 2023 3:58 PM

Share Market Updates | Credit Suisse Wealth Mgmt's Jitendra Gohil on market

"Relative to other markets, and relative to our own past fundamentals, I think India has done pretty good, the macro numbers are very strong. If you look at the power sector growth, electricity growth that is also reasonably very strong airline sector is picking up, the tourist or the tourism sector is doing pretty good. So we think that market is going to see some kind of upside in terms of the GDP growth numbers," says Jitendra Gohil, Head-India Eq Research, Credit Suisse Wealth Mgmt.

May 3, 2023 3:45 PM

Stock Market Update | Market expert Prakash Diwan on PSUs

“Most of the players, who sit on huge capabilities and not just capacities like BHEL, Rail Vikas Nigam (RVNL), Railtel Corporation of India – they will start getting rerated. So, most PSUs will be able to reward shareholders much more amply and clearly and that is likely to happen sooner than later,” says Diwan.

May 3, 2023 3:44 PM

Market at Close | Nifty, Sensex snaps six-day winning streak as global cues remain weak ahead of US Fed meet

Broader markets outperform benchmarks with Midcap index ending in the green

Sensex falls 161 points to 61,193 and Nifty 58 points to 18,090

Nifty Bank falls 39 points to 43,313 while Midcap index rises 84 points to 32,186

Sharp fall in crude lifts OMCs and paint stocks while upstream companies (ONGC, OIL) slip

FMCG companies continue their gaining run, ITC at record high, Nestle, HUL up one percent each

MRF surges up to seven percent as March quarter earnings come in better than estimates

BoB and Central Bank fall 2-5 percent as companies have exposure to go first airlines

IndiGo rises up to seven percent as Go First’s eight percent market share is up for grabs

All Adani group stocks close lower with stocks falling 1-4 percent

ED search at the office leads to a fall of more than 11 percent for Manappuram

Rail stocks continue their winning streak, IFCI, RVNL up 10 percent each

Market breadth neutral with advance-decline ratio at 1:1

BSE companies continue to gain market capitalisation, up Rs 26,000 crore on Wednesday

May 3, 2023 3:35 PM

Stock Market News | Strides Pharma, Orbicular join hands to develop four nasal sprays with $400 million market size

The partnership will commercialise four nasal sprays with a combined global IQVIA market size of over $400 million, Strides Pharma said in a filing to the stock exchanges. The products will be manufactured at Strides Pharma’s Chestnut Ridge, New York facility, which has comprehensive capabilities for nasal spray manufacturing in the unit dose and multi-dose format, including for controlled substances. (Read more)

May 3, 2023 3:16 PM

Stock Market News | MRF declares dividend of Rs 169 post March quarter earnings, net profit doubles from last year

MRF Ltd. declared a final dividend of Rs 169 per share after its March quarter results. Based on the dividends declared earlier, the total for financial year 2023 stands at Rs 175. (Read more)

May 3, 2023 3:11 PM

Market Update | Nifty Metal index is down 1%

The Nifty Metal index is down 1.1 percent, with nine index stocks trading in the red, and six trading in the green. Adani Enterprises, Hindalco and NALCO, down 3.9 to 1.3 percent, are the top index losers. On the other hand, Ratnamani, JSL and Welspun Corp are the top index gainers, up 1.1 to 1.9 percent.

May 3, 2023 3:00 PM

Nifty 50 Update | Adani twins top index losers

Adani Enterprises and Adani Ports are down 4.2 percent and 1.9 percent, respectively. The Nifty 50 index is trading at 18,084.4, down 63.3 points or 0.4 percent.

May 3, 2023 2:56 PM

Havells Q4 Earnings | Here's how the numbers fared vs the year ago period

May 3, 2023 2:20 PM

Havells Q4 Earnings | Here's how the numbers fared vs CNBC-TV18 Poll

May 3, 2023 2:18 PM

Share Market News | Havells reports March quarter numbers

Havells reports a net profit of Rs 358 crore for the quarter ended March 2023. A CNBC-TV18 poll had estimated a net profit of Rs 353 crore.

May 3, 2023 2:13 PM

Market Update | Sensex down 200 points, Nifty nears 18,050

The Sensex is down 223.6 points or 0.4 percent at 61,131.1, while Nifty at 18,067.5, down 80.2 points or 0.4 percent from its previous close.

May 3, 2023 1:55 PM

Nifty 50 Update | Tata Steel expects benefits of low coking coal costs to reflect only two quarters later

Tata Steel MD & CEO TV Narendran believes that the benefits of low coking costs will reflect only in the second quarter of financial year 2024. He further said that coal consumption costs in the June quarter will be higher by $10 per ton on a sequential basis. (Read more)

May 3, 2023 1:43 PM

Stock Market Update | Spandana Sphoorty shares rise 4%

The shares of the company are trading four percent higher at Rs 660. The microlender on Tuesday reported a 268 percent jump in its consolidated March quarter net profit to Rs 105.55 crore. The Hyderabad-based company, specialising in rural loans, had posted a post-tax profit of Rs 71.36 crore in the preceding December quarter. For FY23, its post-tax net profit declined to Rs 12.31 crore against Rs 69.8 crore in the year-ago period.

May 3, 2023 1:40 PM

Share Market Update | Ambuja Cements shares fall 3.5%

The shares of the cement company are down 3.5 percent. The company on Tuesday reported a standalone net profit of Rs 502 crore for the March quarter. The company's board has also recommended a final dividend of Rs 2.50 per equity share for fiscal FY23. Revenue from operations surged 8 percent to Rs 4,256 crore for the reporting quarter. (Read more on Ambuja Cements Q4)

May 3, 2023 1:38 PM

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