Indices end at 9-wk lows ahead of CPI inflation data; Sensex drops 1,158pts

CLOSING BELL :: The S&P BSE Sensex opened gap-down and sunk 1,386 points intra-day to hit a low of 52,702 levels

11:20 AM

US shares drop, dollar remains firm as inflation stokes worries on economy

Apple shares fell 5% overnight, dragging the S&P 500 down 1.65% and the Nasdaq down 3.2%. READ MORE HERE

11:17 AM

Canara Bank to invest Rs 1,000 crore to build digital banking backbone

Public sector lender Canara Bank plans to invest about Rs 1,000 crore over the next three years for building a digital banking ecosystem including a super app. Read here

11:15 AM

Adani Group stocks battered in trade; Adani Total Gas slips over 6%

11:08 AM

Bank of Baroda Q4 result preview: Analysts see weak operational performance

Bank of Baroda Q4 result preview: Citi expects BoB's net profit to fall 5 per cent sequentially to Rs 2,098 crore. It also expects PPoP to decline 6 per cent QoQ to Rs 4,138.3 crore. READ MORE HERE

 

11:00 AM

SBI Q4 profit may rise over 60% YoY but NIM could contract mildly: Analysts

SBI Q4 Preview: The increase in net profit would be aided by up to 19 per cent YoY/5 per cent QoQ growth in net interest income (NII) at Rs 32,100 crore. READ MORE HERE

10:53 AM

PSU Banks bleed; UCO Bank, BoI, Central Bank hit 52-week low

10:46 AM

Mild upmove in IT stocks; L&T Infotech gains over 1%

10:42 AM

Saudi Aramco becomes world's most valuable stock as Apple shares drop

Aramco traded near its highest level on record on Wednesday, with a market capitalisation of about $2.43 trillion. READ MORE HERE

10:36 AM

BS SPECIAL :: Will the market volatility see companies trim IPO size?

10:35 AM

IOC gains as board plans to mull bonus issue on May 17

10:27 AM

Relaxo Footwears slips 10% on weak March quarter results

In Q4FY22, EBITDA margin was down 596 bps to 15.9% due to steep increase in raw material prices and extra support to trade towards GST rate differential on inventory. READ MORE HERE

10:21 AM

Tata Group making plan for battery company in India, abroad: Chandrasekaran

The group is making a transition towards sustainability across businesses which includes a clean mobility push at Tata Motors and its British luxury unit Jaguar Land Rover, N Chandrasekaran said. Read here

10:11 AM

AGI Greenpac hits 52-week low despite strong Q4

10:06 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> Inflation continues to be a major headwind for markets.

>> Consumer inflation in the US in April coming at 8.3% reinforces market's concern about aggressive rate hikes by the Fed and the possibility of a US recession in 2023.
 

>> With dollar index at 104 and expected to strengthen further FIIs are likely to continue selling till Indian valuation becomes attractive. Even though DII buying is more than FII selling now, that is not enough to lift sentiments in the market since the macro headwinds are strong.
 

>> Market's preference for value over growth is reflected in the strength of high quality banking stocks which are even now at buyable valuations.

10:00 AM

Punjab National Bank tanks 10%, hits 52-week low on weak Q4 results

In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud. READ MORE HERE