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Piramal Ent's board approves buyback of up to 1,40,00,000 equity shares of face value of Rs. 2 each for an aggregate amount of Rs 1,750 crore.
Piramal Ent's board approves buyback of up to 1,40,00,000 equity shares of face value of Rs. 2 each for an aggregate amount of Rs 1,750 crore.
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Closing Bell: Sensex falls for 2nd day, ends 107 pts lower, Nifty below 19,650; NTPC gains 4%, Tata Power drops 6%
Closing Bell: Sensex falls for 2nd day, ends 107 pts lower, Nifty below 19,650; NTPC gains 4%, Tata Power drops 6%
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Advait Infratech bags order for supply of Optical Fiber Ground Wire (OPGW) worth Rs. 35.80 crore; stock surges 9%
Advait Infratech bags order for supply of Optical Fiber Ground Wire (OPGW) worth Rs. 35.80 crore; stock surges 9%
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Shyam Metalics and Energy Limited (SMEL) has posted a 43 per cent fall in consolidated net profit at Rs 235 crore in the April-June quarter of 2023-24, dragged by higher expenses. It had posted a net profit of Rs 414 crore in the corresponding period of 2022-23, the company said in a regulatory filing on Thursday.
Shyam Metalics and Energy Limited (SMEL) has posted a 43 per cent fall in consolidated net profit at Rs 235 crore in the April-June quarter of 2023-24, dragged by higher expenses. It had posted a net profit of Rs 414 crore in the corresponding period of 2022-23, the company said in a regulatory filing on Thursday.
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Karur Vysya Bank categorically denies that bank has not accorded any in-principle approval for sale of its stake in Canbank Computer Services
Karur Vysya Bank categorically denies that bank has not accorded any in-principle approval for sale of its stake in Canbank Computer Services
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Shares of Motilal Oswal Financial Services (MOFSL) jumped nearly 9% on the NSE to their 52-week high of Rs 889.95 on Friday, following the June quarter earnings announced by the company along with a proposal for internal restructuring in the company.
Shares of Motilal Oswal Financial Services (MOFSL) jumped nearly 9% on the NSE to their 52-week high of Rs 889.95 on Friday, following the June quarter earnings announced by the company along with a proposal for internal restructuring in the company.
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Despite a positive opening, inability to convincingly breach the upper boundary of the 19770-840 band, which we had marked down as pivotal region, led to a liquidation spree that stretched through the day, until 19620 stepped in to arrest further free fall. The swing thereof and a close near 19700 encourages us to go in today expecting positivity and get back to the 20160 trajectory. However, expect bears to dominate if unable to clear 19770 or float above 19670, but a free fall is less expected.
Despite a positive opening, inability to convincingly breach the upper boundary of the 19770-840 band, which we had marked down as pivotal region, led to a liquidation spree that stretched through the day, until 19620 stepped in to arrest further free fall. The swing thereof and a close near 19700 encourages us to go in today expecting positivity and get back to the 20160 trajectory. However, expect bears to dominate if unable to clear 19770 or float above 19670, but a free fall is less expected.
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GAIL (India) Ltd has issued a swap tender offering six liquefied natural gas (LNG) cargoes for loading in the United States in exchange for six other cargoes for delivery to India in 2024, two industry sources said on Friday.
GAIL (India) Ltd has issued a swap tender offering six liquefied natural gas (LNG) cargoes for loading in the United States in exchange for six other cargoes for delivery to India in 2024, two industry sources said on Friday.
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Opening Bell: Sensex falls 150 points, Nifty below 19,650; Motilal Oswal surges 8%, JK Lakshmi drops 4%
Opening Bell: Sensex falls 150 points, Nifty below 19,650; Motilal Oswal surges 8%, JK Lakshmi drops 4%
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Markets may edge higher in early trades Friday amid optimism in the Gift Nifty index even as US indices faltered overnight and Asian gauges displayed a mixed trend. Intra-day volatility will continue and investors would take cues from the European markets trend for further direction. Technically, the make-or-break support for Nifty is seen at the 19561 mark, while confirmation of strength only above the 19887 mark
Markets may edge higher in early trades Friday amid optimism in the Gift Nifty index even as US indices faltered overnight and Asian gauges displayed a mixed trend. Intra-day volatility will continue and investors would take cues from the European markets trend for further direction. Technically, the make-or-break support for Nifty is seen at the 19561 mark, while confirmation of strength only above the 19887 mark
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The FOMC's decision aligned with market expectations as they implemented a 25bps hike and expressed a data-centric approach for future rate actions. Positive global sentiment prevailed due to the reduced prospects of a US recession. Despite this, the domestic market witnessed sharp corrections led by banks and autos, while pharma stocks performed on a positive start to their earnings season.
The FOMC's decision aligned with market expectations as they implemented a 25bps hike and expressed a data-centric approach for future rate actions. Positive global sentiment prevailed due to the reduced prospects of a US recession. Despite this, the domestic market witnessed sharp corrections led by banks and autos, while pharma stocks performed on a positive start to their earnings season.
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Closing Bell: Sensex plunges 440 points; Nifty slips below 19,700 on F&O expiry; Cipla rallies 9%, TechM falls 4%
Closing Bell: Sensex plunges 440 points; Nifty slips below 19,700 on F&O expiry; Cipla rallies 9%, TechM falls 4%
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Despite muted Q1 results in the IT sector, optimism is slowly arising after the FOMC's recent rate hike. The U.S. Fed hinted at a soft landing of the economy as against the earlier expectation of a recession. Moving forward, the Fed indicated a reduced likelihood of another rate hike this year due to expectations of easing inflation. Conversely, the diminished recession concerns are likely to boost client confidence, leading to the release of deferred IT projects and enhancing revenue visibility in the Indian IT firm. Moreover, higher deal wins and demand for cloud computing, digitalisation, AI, and cybersecurity will support growth in the future. Although industry valuations have corrected significantly, limiting downside risks, this presents a favourable opportunity for long-term investors to accumulate IT stocks.
Despite muted Q1 results in the IT sector, optimism is slowly arising after the FOMC's recent rate hike. The U.S. Fed hinted at a soft landing of the economy as against the earlier expectation of a recession. Moving forward, the Fed indicated a reduced likelihood of another rate hike this year due to expectations of easing inflation. Conversely, the diminished recession concerns are likely to boost client confidence, leading to the release of deferred IT projects and enhancing revenue visibility in the Indian IT firm. Moreover, higher deal wins and demand for cloud computing, digitalisation, AI, and cybersecurity will support growth in the future. Although industry valuations have corrected significantly, limiting downside risks, this presents a favourable opportunity for long-term investors to accumulate IT stocks.
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Birlasoft Q1 Results: Profit at Rs 138 crore vs Rs 121 crore YoY; Revenue at Rs 1263 crore vs Rs 1154 crore YoY
Birlasoft Q1 Results: Profit at Rs 138 crore vs Rs 121 crore YoY; Revenue at Rs 1263 crore vs Rs 1154 crore YoY
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Home-grown FMCG firm Marico will acquire a majority stake in Satiya Nutraceuticals, which owns plant-based nutrition brand Plix, for a consideration of Rs 369.01 crore.
Home-grown FMCG firm Marico will acquire a majority stake in Satiya Nutraceuticals, which owns plant-based nutrition brand Plix, for a consideration of Rs 369.01 crore.
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US Federal Reserve on expected lines raised Fed Funds rates by 25bps to 5.25-5.5% range, highest levels seen since 2001. This marks the 11th hike in the last 12 policy meetings. Another hike is on the cards and we will have to wait till the September policy meet before which the Fed will see how incoming data on inflation and labour market pans out. With crude prices inching up again due to supply cuts and expected optimism in China's recovery, it will be important to track the inflation prints for July and August. Indication is that the interest rates will remain higher for longer. It will be interesting to see the stance that RBI takes in the policy meet in August. Inflation print in June came in higher than street estimates. Increasing vegetable prices due to erratic monsoon and soaring crude will add to inflationary pressures going forward.
US Federal Reserve on expected lines raised Fed Funds rates by 25bps to 5.25-5.5% range, highest levels seen since 2001. This marks the 11th hike in the last 12 policy meetings. Another hike is on the cards and we will have to wait till the September policy meet before which the Fed will see how incoming data on inflation and labour market pans out. With crude prices inching up again due to supply cuts and expected optimism in China's recovery, it will be important to track the inflation prints for July and August. Indication is that the interest rates will remain higher for longer. It will be interesting to see the stance that RBI takes in the policy meet in August. Inflation print in June came in higher than street estimates. Increasing vegetable prices due to erratic monsoon and soaring crude will add to inflationary pressures going forward.
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Shares of cigarette maker Godfrey Phillips zoomed 15.4% to Rs 1,990 in Thursday's trade after the company reported an increase of 68.6% in its consolidated net profit to Rs 220.97 crore for the first quarter ended in June 2023. It had posted a net profit of Rs 131.05 crore during the same quarter of the previous fiscal.
Shares of cigarette maker Godfrey Phillips zoomed 15.4% to Rs 1,990 in Thursday's trade after the company reported an increase of 68.6% in its consolidated net profit to Rs 220.97 crore for the first quarter ended in June 2023. It had posted a net profit of Rs 131.05 crore during the same quarter of the previous fiscal.
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