Sensex ends volatile day 21 pts higher; PSB index surges 3%, Zomato 20%

CLOSING BELL: losses in HDFC twins, ICICI Bank, Infosys, L&T, and Bharti Airtel nearly balanced gains in Kotak Bank, State Bank of India, Hindustan Unilever (HUL), Asian Paints, and Bajaj Finance

12:39 PM

Bharti Airtel, Vodafone Idea: Key things to watch in telcos' Q1 results

"We forecast telecom operators to report Q1FY23 revenue growth of 1–5 per cent quarter-on-quarter (QoQ), largely led by average revenue per user (ARPU) improvement. We also anticipate the subscriber shift from weak to strong operators to continue. For Ebitda (earnings before interest, tax, depreciation, and amortization) margins, we are building in contraction of 45–145 basis points on account of inflationary pressure," noted Edelweiss Securities. READ MORE

12:27 PM

Akasa looks to undercut IndiGo as battle for cheapest airfares heats up

A week ahead of its maiden flight, airline is offering 10% lower fares on Mumbai-Ahmedabad route. READ MORE

12:15 PM

Adani Enterprises becomes 4th Group company to cross Rs 3 trillion m-cap

At 11:25 AM; with a market-cap of Rs 3.07 trillion Adani Enterprises stood at 18th position in the overall market-cap ranking among the BSE listed companies, the exchange data showed. READ MORE

12:06 PM

Broader markets outperform benchmark; India Vix spikes 3%

11:54 AM

Looking through supply-side inflation is a flawed approach: Viral Acharya

Financial market dominance over central banks is a huge problem and challenge, former RBI deputy governor Viral Acharya says. READ MORE

11:45 AM

IndiGo Q1 preview: Analysts expect loss to narrow despite high ATF prices

InterGlobe Aviation Q1FY23 results: Analysts expect IndiGo's net loss to narrow sharply due to increased air traffic. READ MORE

11:36 AM

Energy basket firm in a weak market: Adani Transmission hits 52-week high

11:32 AM

Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021. READ MORE

11:22 AM

PSU Banks defy weak market mood: BoB, SBI, PNB surge up to 5%

At 10:41 AM; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2.5 per cent, as compared to 0.43 per cent decline in the Nifty50 index. READ MORE

10:53 AM

ITC: Rising investor interest will lead to P/E rerating

ITC has posted strong results beating expectations and performing well on all fronts. Stability in taxes and deterrent actions by enforcement agencies has enabled the company to gain volumes from illicit channels in the cigarette business.

FMCG business has witnessed significant volume growth YoY and has been able to maintain margins despite the scorching inflationary environment.

The hotel business is finally in the black and ARR & Occupancy are ahead of the pre-pandemic levels.

The Paper and Agri-Business segments have been the dark horses and have led to significant growth in terms of revenue and profitability on both YOY and QOQ basis.

We believe that the company is expected to generate higher returns over its cost of capital in the next decade due to its strong growth prospects in segments other than the cigarette and its ability to generate robust cash flows.

Further, the rising investor interest will lead to a P/E rerating.

Views by Punit Patni, Equity Research Analyst, Swastika Investmart

10:45 AM

SpiceJet clears all dues with AAI, to revert to advance payment mechanism

SpiceJet Ltd said it had cleared all its outstanding principal dues with the Airports Authority of India, which owns and operates airports in the country. Read here

10:36 AM

Stock spurt fails to lift cash-market volumes in July, shows data

FPIs bought shares worth Rs 4,989 crore in July after being net-sellers since October. Read more

10:27 AM

Asian stocks slide with oil on recession jitters; dollar drops against yen

Asia stocks continued a decline from Wall Street, and US long-term Treasury yields sank to a four-month low, pulling dollar down against the yen. READ MORE

10:18 AM

Saudi to push OPEC+ to increase oil production at upcoming meeting: Report

Saudi King Salman bin Abdulaziz assured US President Joe Biden of the production increase when they met on July 16. READ MORE

10:13 AM

Strong Q1 earnings propel ITC to a fresh 3-year high, stock gains 3%

Analysts believe ITC would be able to continue to grow in high single digit in cigarettes & log a double-digit growth in all the other segments going forward. READ MORE