Moneycontrol launches Analysts’ Call Tracker. A monthly special page that tells you which way analysts are leaning; the stock they are most bullish or bearish on, what they are upgrading or downgrades, and where they are betting against the market. Ignore this at your own risk!
Ahluwalia Contracts bags multiple construction orders worth Rs 140 crore:
Market update at 2 PM: Sensex is up 598.51 points or 1.11% at 54359.29, and the Nifty jumped 184.70 points or 1.15% at 16233.90.
Adani Wilmar cuts prices of edible oil
Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices.
The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon.
Adani Wilmar was quoting at Rs 624, up Rs 4.15, or 0.67 percent on the BSE.
Kotak Institutional Equities View on JSPL
Research firm Kotak Institutional Equities has retained “reduce” rating on JSPL with a target price of Rs 360 per share.
The higher EBITDA led by higher realisations from contracted volumes, however, with a sharp increase in working capital, strong earnings failed to reduce debt much.
Kotak Institutional Equities estimates a sharp contraction in margin in remaining 9MFY23, reported CNBC-TV18.
Jindal Steel & Power was quoting at Rs 350, up Rs 4.60, or 1.33 percent on the BSE.
Smallcap, midcap stocks find takers as global commodity prices soften
With commodity prices easing and rural sentiment turning positive, the Nifty Midcap and Nifty Smallcap indices have seen a rally. The indices have risen nearly 7 percent and 4 percent, respectively,…
Bank of Maharashtra Q1 Earnings: Bank of Maharashtra has reported Q1 FY23 net profit at Rs 451.9 crore against Rs 208 crore and net interest income (NII) was up 19.9% at Rs 1,686 crore versus Rs 1,406 crore, YoY.Gross NPA was at 3.74% versus 3.94% and net NPA at 0.88% versus 0.97%, QoQ.
Bhansali Engineering Polymers Q1 results:Bhansali Engineering Polymers has posted 38.2 percent fall in its Q1 net profit at Rs 47.7 crore versus Rs 77.4 crore and revenue was up 45.5% at Rs 337.4 crore versus Rs 232 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was down 40.2% at Rs 60.3 crore versus Rs 100.8 crore and margin at 17.9% against 43.5%, YoY.
Sensex, Nifty rally to one-week high: Factors that are driving the markets up
The immediate upside targets for the Nifty are at 16,321 mark and then at 16,500 mark. The index would go south only if it drops below its biggest support at 15851, says Prashanth Tapse, Vice…
Kotak Institutional Equities View on HDFC Bank
The research firm Kotak Institutional Equities has kept a buy rating on HDFC Bank with a target of Rs 1,650 per share.
The company posted 19 percent YoY earnings growth on the back of two percent operating profit growth. The high treasury losses were offset by healthy NII growth and solid fee income growth.
Asset quality metrics were stable while near-term overhang would be the merger.
HDFC Bank was quoting at Rs 1,345.85, down Rs 18.00, or 1.32 percent on the BSE.
BSE Smallcap index rose 1 percent supported by the Quick Heal Technologies, Vardhman Textiles, Max Ventures and Industries
Market at 1 PMIndian benchmark indices were trading at day’s high level with Nifty above 16200.The Sensex was up 585.33 points or 1.09% at 54346.11, and the Nifty was up 176.70 points or 1.10% at 16225.90. About 2161 shares have advanced, 1008 shares declined, and 131 shares are unchanged.
