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Market LIVE Updates: Indices near day’s high, Nifty above 15,300; RIL, HDFC, Tata Steel most active – Moneycontrol

June 20, 2022 / 12:29 PM IST

Vadilal Industries arm buys ice creams parlour operator in USVadilal Industries through its subsidiary Vadilal Industries USA Inc has acquired KKC. The subsidiary has signed a Stock Purchase Agreement with ice creams parlour operator Krishna Krupa Corporation, USA (KKC) for subscription of shares, which would result in subsidiary holding up to 100 percent voting rights in KKC.The cost of acquisition is USD 0.25 million.

June 20, 2022 / 12:20 PM IST

Anup Engineering receives orders of Rs 102.9 crore

The Anup Engineering has received an orders of Rs 102.9 crore from Public Sector Refinery for Thermal & Mechanical Design, Detailed Engineering, Fabrication, Procurement, Testing, Inspection, Painting and Supply of Heat Exchanger. 

The Anup Engineering was quoting at Rs 658.75, down Rs 5.55, or 0.84 percent on the BSE.

June 20, 2022 / 12:15 PM IST

Hinduja Global Solutions to set-up new delivery center in KarnatakaHinduja Global Solutions announced today that it is setting up a new delivery center in Mysuru, Karnataka. Company expects to hire 400 employees locally by October 2022 and ramp up aggressively through the year, company said in its release.

Hinduja Global Solutions to set-up new delivery center in Karnataka     Hinduja Global Solutions announced today that it is setting up a new delivery center in Mysuru, Karnataka. Company expects to hire 400 employees locally by October 2022 and ramp up aggressively through the year, company said in its release.

June 20, 2022 / 12:12 PM IST

Steel exports to plunge 35-40% after duty revisions: CRISIL

India’s steel exports will drop 35-40% on-year to 10-12 million tonne this fiscal following the 15% export duty imposed on several finished steel products last month, a CRISIL Research analysis shows. 

June 20, 2022 / 12:09 PM IST

Market at 12 PMBenchmark indices were trading near day’s high amid volatility.The Sensex was up 215.41 points or 0.42% at 51575.83, and the Nifty was up 48.80 points or 0.32% at 15342.30. About 730 shares have advanced, 2353 shares declined, and 142 shares are unchanged.

Market at 12 PM     Benchmark indices were trading near day's high amid volatility.    The Sensex was up 215.41 points or 0.42% at 51575.83, and the Nifty was up 48.80 points or 0.32% at 15342.30. About 730 shares have advanced, 2353 shares declined, and 142 shares are unchanged.

June 20, 2022 / 11:49 AM IST

Nifty FMCG index gained 1 percent led by the HUL, Godrej Consumer Products, Britannia Industries

Nifty FMCG index gained 1 percent led by the HUL, Godrej Consumer Products, Britannia Industries

June 20, 2022 / 11:46 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

Events of the last few days have increased the risk of recession in the US. Synchronised rate hikes by most central banks will certainly hit global growth this year. High interest rates and lower growth will impact corporate earnings. 

Risky assets are reacting to this pessimistic scenario. The 72 percent crash in the price of bitcoin is a reflection of the fear and risk aversion among investors. The correction in the Indian market is not as steep as in the US mainly because of the sustained buying by DIIs and retail countering the relentless selling by FIIs which crossed  Rs 7000 crore last Friday. 

A bounce back from the steady decline is possible any time. An important factor favouring such a scenario is the 6 percent decline in crude. If this trend persists it can help tame inflation globally.

Investors can use weakness in the market to buy high quality large-caps across sectors.

June 20, 2022 / 11:43 AM IST

BSE Realty index fell 1 percent dragged by the Indiabulls Real Estate, Macrotech Developers, Prestige Estate

BSE Realty index fell 1 percent dragged by the Indiabulls Real Estate, Macrotech Developers, Prestige Estate

June 20, 2022 / 11:31 AM IST

Birlasoft enters in global partnership with Google CloudBirlasoft has entered in a global partnership with Google Cloud to enable enterprises accelerate their digital transformation journey. 

Birlasoft enters in global partnership with Google Cloud     Birlasoft has entered in a global partnership with Google Cloud to enable enterprises accelerate their digital transformation journey. 

June 20, 2022 / 11:25 AM IST

Kotak initiates coverage on PB Fintech with buy rating, raises target price to Rs 700

Kotak initiates coverage on PB Fintech with buy rating, raises target price to Rs 700

Brokerage firm Kotak Institutional Equities has initiated coverage on PB Fintech Ltd with buy rating and increased its target price to Rs 700 a share, signalling a potential upside of 20% from its…

June 20, 2022 / 11:19 AM IST

Indian economy should be one of the least affected by global slowdown said Neelkanth Mishra of Credit Suisse 
Indian economy should be one of the least affected by global goods demand slowdown said Neelkanth Mishra, Co-Head of Equity Strategy, Asia Pacific and India Equity Strategist, Credit Suisse. He added that a recession is yet to start and it is too early to call bottoms. Bottoming in US equities usually happens during a recession. The Indian earnings growth estimates at 12-14 percent are reasonable. Problem for India is global equities and PE multiple of world markets is coming off. Equity Risk Premium not particularly low and can stay elevated which means lower PE multiples  

June 20, 2022 / 11:04 AM IST

Market at 11.00 AM
Indices trade flat amid volatility, Sensex down by around 30 points, Nifty around 15,250
The Sensex was trading flat with a loss of 34.1 points or 0.07% at 51,326.28 and the Nifty was lower by 24.15 points or 0.16% at 15,269. About 764 shares have advanced, 2372 shares declined, and 141 shares are unchanged.

Market at 11.00 AM   Indices trade flat amid volatility, Sensex down by around 30 points, Nifty around 15,250  The Sensex was trading flat with a loss of 34.1 points or 0.07% at 51,326.28 and the Nifty was lower by 24.15 points or 0.16% at 15,269. About 764 shares have advanced, 2372 shares declined, and 141 shares are unchanged.