PVR Large Trade | 8.71 lakh shares (1.4% equity) worth Rs 160 crore change hands at Rs 1,842 per share.
PVR was quoting at Rs 1,851.00, up Rs 21.55, or 1.18 percent.
Dow Futures jumps more than 200 points
Market at 12 PMThe Sensex was up 274.78 points or 0.47% at 59360.21, and the Nifty was up 81.50 points or 0.46% at 17686.50. About 2119 shares have advanced, 958 shares declined, and 113 shares are unchanged.
Lupin and I’rom enter into an exclusive licensing agreementLupin has entered into an exclusive licensing agreement with I’rom Group Co. Ltd (I’rom), a leading pharmaceutical company in Japan. Under the terms of the agreement, I’rom will conduct clinical trials along with Lupin, register, distribute and market biosimilar Denosumab in Japan on an exclusive basis.
Dreamfolks Services IPO Subscription Updates
Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities:
NYMEX crude trades modestly higher near $95.5/bbl supported by weekly inventory report which noted a bigger than expected decline in US crude oil stocks while crude and product exports jumped to all-time high. Also supporting crude price is expectations of fuel switching amid rising gas prices in global market and Saudi’s willingness to consider production cuts to keep market well balanced.
Crude oil has witnessed a sharp recovery from recent lows and the momentum looks positive however with growth worries and shaky risk sentiment, a sharp upside is difficult.
Joseph Stiglitz says rate hikes that are too steep may worsen inflation
As activity restarts following pandemic lockdowns and countries like China struggle to restore normality, the global economy is enduring something “we’ve never done before,” the Columbia University…
Nifty Realty added over a percent led by Indiabulls Real Estate, Phoenix Mills and DLF
#OnCNBCTV18 | Fed message from Jackson Hole will be key for movement on Dollar Index, US 10-yr yield. Valuations in India are above peers, above historical average. Prefer large caps in India, says Fook Hien Yap of Standard Chartered pic.twitter.com/Ck99KSbiuC
— CNBC-TV18 (@CNBCTV18Live) August 25, 2022
Mid-caps appear to be expensive: Head-equity, HDFC AMC
Nifty 50 valuations are 19 times one-year forward price-to-earnings, compared to 17 times historical averages. This is a premium of roughly 10 percent. These are still reasonable valuations. We are constructive on equities in the medium term.
However, mid-caps are pretty expensive, trading at one-year forward price-to-earnings (P/E) multiple of 22 times, which is a 15 percent premium to the historical averages.
Small-cap valuations, like those of large-caps, are close to historical valuations, trading at a P/E multiple of 16 times, closer to the historical average of 14 times. Normally, small-caps trade at a discount of 15-16 percent to large-caps. It is more or less in line with the average discounts.
Market update at 11 AM: Sensex is up 283.26 points or 0.48% at 59368.69, and the Nifty added 84.50 points or 0.48% at 17689.50.
Lockstep markets primed for all-or-nothing Jerome Powell sweepstake
Stocks, bonds, commodities — everything is moving in lockstep, their unified swings turning almost exclusively on views as to whether the central bank will cause a recession.