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Market LIVE Updates: Indices extend gains, trade at day’s high; Zomato, Bajaj twins most active – Moneycontrol

August 17, 2022 / 03:09 PM IST

RBI faces a core challenge in its journey to drive inflation below 6%

Core inflation has climbed and remained above 6 percent for over a year now and it could make the RBI work harder to bring headline retail inflation into the 2-6 percent band even if other factors…

August 17, 2022 / 03:03 PM IST

Market at 3 PMBenchmark indices extended the gains and trading at day’s high with Nifty around 17950.The Sensex was up 460.86 points or 0.77% at 60303.07, and the Nifty was up 132.90 points or 0.75% at 17958.20. About 1907 shares have advanced, 1277 shares declined, and 106 shares are unchanged.

Market at 3 PM     Benchmark indices extended the gains and trading at day's high with Nifty around 17950.    The Sensex was up 460.86 points or 0.77% at 60303.07, and the Nifty was up 132.90 points or 0.75% at 17958.20. About 1907 shares have advanced, 1277 shares declined, and 106 shares are unchanged.

August 17, 2022 / 02:53 PM IST

Investec View On Railtel Corporation of India

Investec has maintained hold call on the Railtel Corporation of India and cut the target price to Rs 110 from Rs 144 per share.

The company has disappointed on growth & margin since its listing. The higher RoCE projects business expected to drive growth, has underperformed. 

The telecom business performed relatively better with 18% YoY growth in FY22.

Broking house cut its FY23/FY24 EPS estimates by 46.7%/25.6%, reported CNBC-TV18.

Railtel Corporation of India was quoting at Rs 97.75, down Rs 2.05, or 2.05 percent.

August 17, 2022 / 02:49 PM IST

India Inc banks on strong domestic demand to keep earnings momentum intact

India Inc banks on strong domestic demand to keep earnings momentum intact

Over the last year, demand trends in India have diverged as high inflation and unseasonal rain resulted in a compression in rural demand while reopening of urban areas led to a resurgence in urban…

August 17, 2022 / 02:42 PM IST

Jaideep Hansraj, MD & CEO Kotak securities:

Today’s rescaling of the 60000 peaks is a sign of the strength of retail investors in India. It shows the belief of the investors in the India growth story and is another reminder to all of us to be optimistic about India inc.

August 17, 2022 / 02:37 PM IST

August 17, 2022 / 02:30 PM IST

Tapan Patel, Senior Analyst (Commodities), HDFC Securities:

Crude oil prices traded lower with benchmark NYMEX WTI crude oil prices were trading 0.30% down near $86.25 per barrel on Wednesday. Crude oil prices fell to a six-month low after a brief respite as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower US crude and gasoline stocks. 

We expect crude oil prices to trade sideways to down with resistance at $89 per barrel with support at $85 per barrel. MCX Crude oil August contract has important support at Rs 6750 and resistance at Rs 6980 per barrel.

August 17, 2022 / 02:22 PM IST

European Markets Updates

European Markets Updates

August 17, 2022 / 02:14 PM IST

Devang Mehta, Head- Equity Advisory, Centrum Wealth on Sensex at 60,000:

Markets are just 3- 4 percent off their life time highs. I think, clearly the sentiment along with liquidity & macro plus micro fundamentals are supportive for a long term rally but yes it will have its share of speed breakers & volatility. Clearly the day when US inflation came in at 9.1 percent, a lot more than expectations, markets factored in an aggressive rate hike and moved forward. While inflation & interest rates can still come & haunt the economies & markets, but a confluence of factors including low valuations be it P/E, P/BV, Mcap to GDP, oversold markets, the fall in commodity prices etc helped markets to move northwards. Add to it, crude from130 to 93, is a huge tailwind for our own economy & hence markets. The return of Foreign institutional investors, credit growth in mid teens for the banking sector, decent monsoon, commentary on impending capex & above all the first quarter earnings season, which did not disappoint the street, were catalysts for this up move. With festive season in India for the next few months, revenge shopping, eating out & revenge travel, a lot of consumption oriented sectors would find favour t & with credit growth and capex coming back, BFSI would also be a beneficiary.

August 17, 2022 / 02:04 PM IST

Market update at 2 PM: Sensex is up 332.77 points or 0.56% at 60174.98, and the Nifty up 97.10 points or 0.54% at 17922.40.

Market update at 2 PM: Sensex is up 332.77 points or 0.56% at 60174.98, and the Nifty up 97.10 points or 0.54% at 17922.40.

August 17, 2022 / 01:54 PM IST

Singer up over 40% in 2 days after Jhunjhunwala’s RARE Investments picks up stake

Singer up over 40% in 2 days after Jhunjhunwala's RARE Investments picks up stake

RARE Investments, Rakesh Jhunjhunwala’s investment firm, has bought 4,250,000 shares of Singer India at Rs 53.50 apiece

August 17, 2022 / 01:51 PM IST

Energy Prices Update:

Energy Prices Update: