Sensex drops 440 pts on Thursday; Nifty ends July F&O series 3.6% higher

CLOSING BELL ON JULY 27, 2023: Sectorally, auto and energy shares bore brunt of the selling, while pharma and realty stocks ended with smart gains on Thursday.

10:59 AM

PF: How to reduce your EMI burden if you have opted for an education loan

When your savings are insufficient to cover your child's higher education expenses, an education loan emerges as a popular solution as they are readily accessible to eligible borrowers and encompass a wide range of expenses. By proactively managing your payments, you can ease the financial impact of the loan and potentially save on overall interest expenses. READ

10:49 AM

Netweb Technologies lists at 89% premium over issue price

Netweb Technologies India (Netweb) made a stellar market debut, with its shares listed at Rs 947, a 89 per cent premium over its issue price of Rs 500 per share on the National Stock Exchange (NSE) on Thursday. On the BSE, the stock listed at Rs 942.50 per share. READ

10:41 AM

Cipla surges 9% on strong Q1 results, raises FY24 margin guidance

For FY24, Cipla raised its EBITDA margin guidance to 23 per cent from 22 per cent earlier. The management guided capex is at 4- 5 per cent of revenue (Rs 1,000 - 1,050 crore). Further, management raised its North America (NA) base business quarterly run-rate guidance to $210 - 215 million from $195 million earlier. READ

10:29 AM

VIEW: Rate hike cycle has peaked; but its impact to be seen in coming quarters

The US Federal Reserve’s increase in interest rates by 25 bps was on expected lines, but more importantly, the commentary and press conference were largely neutral.

Considering the massive rate hike cycle in place and inflation challenges reducing, more rate hikes are not needed at this juncture. Further rate hikes could be detrimental to economic growth prospects raising the chances of a hard landing.

So, the interest rate cycle has largely peaked, but its impact will be seen in the forthcoming quarters. India is also placed in a similar manner, with rate hikes primarily done. There is a possibility of one more rate hike, but RBI’s stance is likely to be balanced.

Views by Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS

 

 

 

10:11 AM

Mahindra & Mahindra slips 6% on acquiring 3.5% stake in RBL Bank

The company said it may consider further investment, subject to pricing, regulatory approvals, and required procedures, however, in no circumstance will it exceed 9.9 per cent. READ

10:02 AM

ALERT: Netweb Tech sees bumper debut; lists at 88% premium on BSE

9:51 AM

RVNL slips 4% as govt launches OFS to sell 3.4% stake

9:50 AM

Kalpataru Projects surges 4% on winning Rs 2,261 crore

9:44 AM

Cipla rallies 8% on strong Q1 beat

Cipla posted a 45.1 per cent year-on-year (YoY) rise in profit after tax (PAT) for Q1 to Rs 996 crore, riding on a 17.7 per cent rise in income from operations at Rs 6,329 crore.

The domestic business grew by 12 per cent YoY. In the US, too it posted the highest-ever revenue of $222 million, up 43 per cent YoY. The US business also grew sequentially over the previous quarter when it posted revenues of $202 million.

9:42 AM

M&M drops 5% after picking up 3.5% stake in RBL Bank

M&M has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore.

9:40 AM

Tech Mahindra sinks 4% on poor Q1 earnings

The IT services provider's net profit fell 38.8 per cent YoY to Rs 692.5 crore in Q1.

9:36 AM

Pharma index leaps over 1%; Auto pocket in slow lane

9:31 AM

Smallcaps, Midcaps hold relative strength over benchmark

9:25 AM

M&M, Tech M, TCPL top Nifty drags

9:23 AM

Nifty winners: Cipla, Hindalco, SBI Life lead gains