Sensex drops 208 pts, Nifty below 18,300; metal, financial stocks weak

CLOSING BELL: Adani Enterprises fell over 6 per cent, while Adani Ports, Tata Motors, HDFC, HDFC Bank, ICICI Bank, Reliance Industries, HUL, and Asian Paints declined up to 2 per cent

2:05 PM

UK inflation falls to lowest in over a year but food prices remain elevated

The Office for National Statistics said Wednesday that the consumer price index dropped to 8.7 per cent in the year to April from 10.1 per cent in March, largely because last year's energy spike in the wake of the invasion dropped out of the annual comparison. The fall took inflation to its lowest level since March 2022, a month after the war began. READ MORE

1:54 PM

DGCA to conduct audit of Go First's preparedness before allowing flight

In a communication to the staff on Tuesday, the airline said, "DGCA will be conducting an audit to check our preparedness in the coming days. Once approved by the regulator, we would be soon commencing operations" READ MORE

1:43 PM

Buzzing stock :: SMS Pharma soars 9% as Q4 net zooms 51% YoY to Rs 8 crore

>> Revenue steady at Rs 149.4 crore

>> Ebitda up 24.5% YoY at  Rs 23.4 crore

>> Margin at 15.7% vs 12.6% YoY
 

1:38 PM

Solid order book, indigenisation to keep defence stocks in demand: Analysts

Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex. READ MORE

1:27 PM

Safe-bet BAFs take the back seat as investors turn to riskier funds

Monthly inflows into the riskiest mutual fund (MF) products—small-caps and thematic funds—have surged. The two fund categories have consistently beaten others in terms of monthly net inflows since October 2022. Between October and April, small-cap and sectoral funds have drawn a net investment of over Rs 12,000 crore each. At the same time, flexicap and large-cap funds received net investments of Rs 3,900 crore and Rs 1,100 crore. READ MORE

1:16 PM

Stock of this industrial products company has zoomed over 170% in 4 months

The stock of the industrial products company surpassed its previous high of Rs 3,000, touched on May 15, 2023. In the past four months, the stock has skyrocketed 171 per cent from a level of Rs 1,178 on January 24. Thus far in the month of May, it has rallied 15 per cent. In the month of February, it had zoomed 66 per cent, followed by a 27-per cent rally in March and 11 per cent in April. READ MORE

1:06 PM

India's forex reserves at comfortable position to meet requirements: Goyal

On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements." READ MORE

12:55 PM

Earnings Alert :: Avanti Feeds' Q4 net rises to Rs 101.45 crore vs Rs 91.74 crore YoY

>> Revenue slips 18% YoY to Rs 1,093 crore

12:47 PM

Deepak Nitrite soars 6% as subsidiary plans Rs 5,000-cr capex in Gujarat

The company's wholly owned subsidiary, Deepak Chem Tech (formerly known as Deepak Clean Tech) signed a Memorandum of Understanding (MoU) with the government of Gujarat on May 23, 2023 with an intent to invest around Rs 5,000 crore in the next four years for setting up projects to manufacture speciality chemicals, phenol / acetone and bisphenol at Dahej / Nandesari. READ MORE

12:36 PM

MARKET CHECK :: Sensex back in the red

12:25 PM

Earnings Alert :: India Cements reports Q4 net loss at Rs 217.8 crore vs loss of Rs 23.7 cr YoY

>> One-time loss at Rs 114 crore

 

>> Revenue up 5% YoY at Rs 1,460.5 crore

 

>> Ebitda loss at Rs 44.5 crore vs Ebitda gain of Rs 61.4 cr YoY

 

12:12 PM

Strategies for 5 stocks that are defying current market mood

Few selective stocks, like Gland Pharma, PVR INOX, Siemens, UPL and JK Paper may continue to slide lower demonstrating a bearish engulfing sentiment, show technical charts. READ MORE

12:02 PM

Earnings Alert :: Antony Waste's net profit sinks 55% YoY to Rs 9 crore

>> Revenue up 7.9% YoY to Rs 203.1 crore

>> Ebitda down 21.7% YoY at Rs 32.5 crore

>> Ebitda Margin at 16% vs 22% YoY
 

11:50 AM

ALERT :: Affle International Pte enters into Share Purchase Agreement to acquire 100% ownership in YouAppi Inc

11:40 AM

War on inflation not over, we have to remain alert: RBI Guv Shaktikanta Das

Although inflation has moderated of late, India's fight against it is not over yet, and there is no room for complacency, Shaktikanta Das, governor of the Reserve Bank of India (RBI), said at an event on Wednesday. READ