Sensex ends choppy day 130pts up ahead of inflation data; Nifty below 17700

CLOSING BELL: Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent

1:14 PM

Passenger vehicle dispatches rise 11 pc in July as chip situation improves

The passenger vehicle dispatches to dealers increased by 11 in July as improvement in semiconductor supplies helped the companies to ramp up production ahead of the festive season, SIAM said. Read here

1:04 PM

Kolte-Patil buys land in Pune; eyes Rs 1,400 cr sales from housing project

Realty firm Kolte-Patil Developers Ltd has acquired 25 acres of land in Pune to develop a housing project with an estimated sales revenue of Rs 1,400 crore. READ MORE

12:54 PM

Page Industries shares hit 52-week high on strong Q1 earnings

Shares of Page Industries hit a 52-week high in morning trade on Friday after the apparel manufacturer reported a multi-fold jump in the first quarter net profit. READ MORE

12:40 PM

Adani Enterprises, Cummins among stocks that hit 52-week high

12:31 PM

IT stocks battered in trade; Mindtree at bottom of the heap

12:13 PM

GVK Power & Infra resumes trading after a year, stock locked at lower limit

Till 11:27 am, a combined 1.8 mn equity shares changed hands and there were pending sell orders for around 9 mn shares on the NSE and BSE, exchanges data show. The stock last traded on August 2, 2021. Read here

12:03 PM

Inflation trajectory may be benign going forward, says SBI report

The Reserve Bank of India has raised the repo rate by 140 basis points to 5.40 per cent since May to tackle high inflation. Read more

11:52 AM

Masayoshi Son now down $4 bn on SoftBank side deals due to market downturn

Masayoshi Son holds 17.25% of a vehicle set up under SoftBank's Vision Fund 2 for its unlisted holdings, as well as 17.25% of a unit within its Latin America fund. Read here

11:42 AM

MARKET CHECK | Small-caps firmly outshine peers, frontine indices

 

11:32 AM

After a dip, oil prices on track for weekly gain as recession fears ease

Oil prices dipped in early trade on Friday amid uncertainty on demand outlook based on contrasting views from OPEC and IEA, but benchmark contracts headed for weekly gains as recession fears eased. Read more

11:19 AM

This Tata Group stock inches towards Rs 10,000-mark; zooms 133% in one year

Tata Elxsi hit a new high of Rs 9,999 on rallying 5 per cent on the BSE in Friday's intra-day trade, in an otherwise range-bound market, on the back of strong growth outlook. Read here

11:07 AM

Japanese yen fell the most against a resurgent US dollar on Friday

The Japanese yen fell the most against a resurgent U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation. Read more

10:54 AM

Bharat Forge rallies 8% on stable business outlook post Q1 results

Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds. Read here

10:45 AM

COMMENT | Swastika Investmart gives subscribe call to Syrma SGS Technology IPO

The company is an electronics system design and manufacturer (ESDM).

With a huge focus on R&D-based innovation and an experienced management team, the company has managed to enter into various growing segments like PCBA, Radio Frequency Identification (RFID), Electromagnetic and electromechanical parts, and other information technology-related products, including motherboards, DRAM modules, SSD and USB drives.

The company’s business model starts from product concept design and focuses on every segment of the overall industry value chain; this gives them a competitive advantage over traditional OEM or ODM-based companies that focus on a single process or certain stages of production, thus creating lasting relationships with its marquee clients.

Further, the geographically diversified manufacturing locations enable them to efficiently cater to the requirements of their customers in north and south India. Additionally, the business has had success using inorganic means to add new product lines and expand its geographic reach.

The issue has been priced at a premium valuation, which is acceptable given its growth potential and competitive advantages. And therefore, we recommend investors to subscribe the issue.

Views by Santosh Meena, Head of Research, Swastika Investmart

10:37 AM

EARLY MARKET CHECK | Sensex sits flat with fractional gains