Sensex rises 96 pts after range-bound trade; Pvt banks weak, IT strong

CLOSING BELL: Meanwhile, the rupee will fall further against the US dollar over the rest of the year, a Reuters poll showed. It slipped to a record low of 83.21 today, and ended at 82.75/$

1:21 PM

BSE 500:: Top gainers so far

Deepak Fertilizers up nearly 6 per cent was the top gainer among the BSE 500 stocks so far on Thursday. It was followed by Rallis India, Alok Industries, MRPL and ITI.

1:07 PM

Glenmark Pharma launches drug for diabetic patients with comorbidities

Glenmark Pharmaceuticals on Thursday said it has launched a fixed-dose combination for the treatment of diabetes for patients with comorbidities. READ MORE

12:57 PM

ALERT :: Suzlon Rights Issue oversubscribed on last day, say reports

12:48 PM

Axis Bank Q2 preview: Profit may rise over 40% YoY on low provisions

Key monitorables

 

Analysts said progress of the Citi portfolio, direction of operating profit growth, guidance/outlook on restructured loans and BB & below asset pool, and credit growth amid slowdown concerns will be tracked by the investors. READ MORE

12:38 PM

Here's why TVS, Eicher Motors are best trading bets among two-wheelers

TVS Motor Company Ltd (TVSMOTOR)

 

Likely target: Rs 1,350

 

Upside potential: 17%

 

After surpassing the 2017 barrier of Rs 724 in late 2021, the stock encountered a sudden sell-off. After this selling pressure was overpowered in mid-2022, as the stock rejigged on the positive side, and broke out resolutely. READ MORE

12:29 PM

ALERT :: US 10-year yield rises to 4.15%; India 10-year at 7.5%

⚠️BREAKING:

*U.S. 2YR YIELD JUMPS TO 4.57%
*U.S. 10YR YIELD RISES TO 4.15%
*U.S. 30YR YIELD CLIMBS TO 4.14%

12:18 PM

We won't make an acquisition just because we have to: Piramal Pharma chief

We are not worried about demand. Volatility in the form of exchange rates is a challenge in the short term, but eventually, it will ease out.

 

During Covid-19, everyone was focusing on the pandemic and nothing else. The hospital beds were full of Covid-19 patients. But Covid hospitalisations are coming down. I am quite confident about that business. READ INTERVIEW HERE
 

12:09 PM

Valuation concerns limit upsides for L&T Tech and Tata Elxsi stocks

Although HDFC Securities expects the company to log an earnings per share growth of 19 per cent over 2021-22 through 2024-25, it believes the upside potential for the stock is limited.

 

Other stocks in the ER&D space also came under pressure due to weak operational performance. While revenue growth for Cyient came in below Street estimates, Tata Elxsi disappointed due to muted margin performance. Tata Elxsi is down about 13 per cent from its results, while Cyient is down about 2.4 per cent. READ MORE

11:57 AM

Delhivery shares crash 11% post Q2 business update

11:48 AM

Sept Quarter Result :: Canara Bank posts profit of Rs 2,525 crore, up 89.5% YoY

>> NII up 18.55% YoY at Rs 7,434 crore

> GNPA ratio 6.37% vs 6.98% QoQ

11:43 AM

Companies see slowdown in growth of temporary, contract and casual jobs

The absolute number of such jobs is up 30 per cent between financial year 2017-18 and 2021-22 (FY18-22), shows an analysis of data collated from the annual reports of S&P BSE 100 companies. Forty-eight firms were considered for the final analysis based on the availability of uniform data across the last five years. In comparison, the total workforce numbers are up 36 per cent in the same period. READ MORE

11:33 AM

Days of delivering sub-par returns may soon come to an end for debt funds

The spate of rate hikes has pushed the yield-to-maturity (YTMs) of debt funds to 6-7 per cent for shorter duration funds like liquid funds and 7-8 per cent for longer-duration funds like corporate bond funds. Even if fund management expenses are taken into account, the YTMs of longer duration instruments remain above 6.5 per cent, which is significantly higher than the interest rates being offered by FDs of top banks. At present, the State Bank of India is offering 5.6 per cent interest for 1-2 year deposits and 5.65 per cent for 2-3 year FDs. READ MORE

11:21 AM

Adani Enterprises to raise Rs 1,000 cr via public issue of debentures

Adani Enterprises Ltd (AEL) plans to raise up to Rs 1,000 crore through public issue of non-convertible debentures to support business operations. READ MORE

11:15 AM

IndusInd Bank, Titan, NTPC top Nifty50 laggards at this hour

11:05 AM

Nifty PSU Bank slips 1%, led by losses in Canara Bank