Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a choppy session barely in the green on Thursday, even as the Fed’s move to hike the key interest rate by an expected 50 bps soothed the nerves of global investors.
However, there are obvious supply-side issues and given their size, I think the supply-side constraints are hitting the bigger guys more than the smaller- and medium-sized companies who don’t really nee 10s of 1,000s of people,” he says.
We are already seeing some sort of de-rating in technology and we perhaps may not see the kind of earnings growth or the kind of price performance we have seen last year…
HCL Tech, Tata Steel, Wipro and ONGC are also among the top gainers.
Amit Sajeja, VP-Technical Commodities and Currencies Analyst, Commodities, Motilal Oswal Financial Services, recommends buying MCX futures for a target of Rs 8,400 with a stop loss below Rs 7,600.
Unmesh Sharma, Head-Institutional Equities at HDFC Securities, believes that to a large extent, 60 percent of corporate profits are quite ring fenced and solid despite all the challenges in the environment, including spaces like oil & gas, metal and BFSI.
On the other hand, he is of the view that spaces such as cement, pharma, chemicals and FMCG continue to see some pressure.
Dabur’s revenue comes in at Rs 2,517.8 crore for the quarter ended March and volume growth at two percent, according to a regulatory filing.
Firstsource Solutions has posted 2.3 percent fall in its Q4 consolidated net profit at Rs 132.3 crore versus Rs 135.46 crore and revenue was up 5.4 percent at Rs 1,543.5 crore versus Rs 1,464 crore, QoQ.
The blockbuster initial public offering was subscribed by around 84 percent till 1 pm on the second day.
The shares of TVS Motor Company Ltd, on Thursday, gained over 3 percent in early trade as the Street expects a positive set of numbers from the company for the quarter ended March 2022.
To a large extent, what we see is 60 percent of corporate profits are quite ring fenced and solid, despite all the challenges that you see in the environment, which includes things like oil and gas, metals and BFSI, these are spaces that we are constructive on at this point in time.
ABB India on Wednesday posted over a two-fold jump in net profit at Rs 370 crore for the March quarter compared to the year-ago period mainly on the back of higher revenue.
Gold prices climbed more than 1 percent on Thursday after the US Federal Reserve Chair Jerome Powell ruled out large, aggressive interest rate hikes for the year as the central bank seeks to contain inflation without triggering an economic recession.
LIC is offering over 22 crore shares for a 3.5 percent stake, as it aims to raise over Rs 21,000 crore.