HDFC Mutual Fund acquires 50,000 shares in Voltamp Transformers
HDFC Mutual Fund through its several funds acquired 50,000 equity shares in Voltamp Transformers via open market transactions on June 14.
With this, its shareholding in the company increased to 5.25 percent, up from 4.91 percent earlier.
Voltamp Transformers touched a 52-week high of Rs 2,544.95 and was quoting at Rs 2,364.95, up Rs 1.70, or 0.07 percent.
With Fed delivering a rate hike, it’s time to cherry pick quality stocks
The third stage of the market fall—a downturn in the economy and earnings downgrades–is yet to play out
Sensex breaches March intra-day low of 52,260.82. It is down 298.16 points or 0.57% at 52243.23.
Midcap Index down more than 20% from intra-day record high. The index touched a high of 27246.34 as on October 19, 2021 and currently trading at 21,754.19, down 201.09 point or 0.92 percent.
Today’s Stock Market Action
Market at 12 PMBenchmark indices extended the losses and trading at day’s low with Nifty below 15600.The Sensex was down 352.04 points or 0.67% at 52189.35, and the Nifty was down 121.70 points or 0.78% at 15570.50. About 956 shares have advanced, 2050 shares declined, and 118 shares are unchanged.
Supreme Court asked Haryana Discom to pay Rs 1,408 crore to Adani Power (Mundra) by June 28. Supreme Court issues notice to Uttar Haryana Bijli Vitran Nigam on Appeal by Adani Power (Mundra).
Gold prices inched lower on Thursday, as the dollar recovered slightly after a large but widely expected interest rate hike by the U.S. central bank sent the currency tumbling in the previous session.
Spot gold fell 0.1% to $1,831.29 per ounce, as of 0546 GMT, while U.S. gold futures rose 0.7% to $1,832.60.
Daily Voice | High inflation likely to persist for another two quarters, says Rahul Bhuskute of Bharti AXA Life
Some factors that give hope to investors are a normal monsoon and robust private sector capex in specific pockets, which may provide a fillip to the markets in the second half of 2022, according to…
Indian Overseas Bank to raise Rs 2,000 crore in FY23Indian Overseas Bank has approved the capital plan for FY23. The bank will raise up to Rs 1,000 crore by issuing equity shares and another Rs 1,000 crore by issuing bonds, in FY23.
Gainers and Losers on the BSE Sensex in the early trade:
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
More than the 75bp hike in Fed funds rate, which was expected, it was the Fed chief comments and guidance that have calmed the markets, temporarily. Jay Powel’s remark that “we have the tools and resolve to achieve price stability” reflects confidence in containing inflation.
His guidance of 3.4 percent rate by end of 2022 and 3.8 percent terminal rate in 2023 refect the determination to fight inflation. However, the presently unknown factor is whether the rising rates will tip the US economy into recession.