India Finance News

Market LIVE Updates: Nifty around 17,900, Sensex falls; metals under pressure, IT gains – Moneycontrol

January 16, 2023 / 03:16 PM IST

Bharat Agri Fert & Realty to consider stock split on February 1Bharat Agri Fert & Realty will consider sub-division of equity share from the face value of Rs 10 per share to Re 1 per share.

January 16, 2023 / 03:11 PM IST

Goldman Sachs View On L&T Finance Holdings-buy rating, target at Rs 108 per share
-strong operational beat; earnings quality improves across board
-reported a strong quarter driven by higher-than-expected NII
-believe earnings will provide confidence that company is on path of improving profits
-RoAs & RoEs likely to touch 2 percent/10.6 percent by FY24

January 16, 2023 / 03:07 PM IST

JPMorgan View On Reliance Industries

-Overweight call, target cut to Rs 3,015 from Rs 3,065 per share
-Assume no tariff hike in FY24, driving FY24-25 EBITDA estimates lower by 2.5 percent/4.2 percent
-Overall, still see a healthy earnings environment for RIL
-See O2C & E&P business benefitting from China reopening & higher volumes
-Company’s recent underperformance is more macro driven 
-FII moves from India to China kept company under pressure recently
-Company is trading at the lower end of its recent trading range

Reliance Industries was quoting at Rs 2,438.60, down Rs 28.75, or 1.17 percent on the BSE.

January 16, 2023 / 03:02 PM IST

All large-cap, blue-chip stocks to shift to T+1 settlement cycle from Jan 27

The T+1 settlement system will give investors the option to trade more by rolling the funds and shares faster. The settlement cycle is said to be completed only when the buyer receives the shares and the seller receives the money…. Read More

January 16, 2023 / 03:01 PM IST

Market at 3 PMThe Sensex was down 196.70 points or 0.33% at 60064.48, and the Nifty was down 69.90 points or 0.39% at 17886.70. About 1512 shares have advanced, 1823 shares declined, and 162 shares are unchanged.

January 16, 2023 / 02:55 PM IST

RattanIndia Enterprises completes 100% acquisition of Revolt MotorsRattanIndia Enterprises has completed acquisition of 100% shareholding in the electric motorcycles company Revolt Motors. Revolt Motors is the highest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. It has expanded its footprint pan-India with 30 dealerships spread across the country.

January 16, 2023 / 02:51 PM IST

Morgan Stanley keeps underweight rating on MCX India:

-Underweight rating, target at Rs 1,250 per share 
-SEBI allowing exchanges to launch multiple contracts on same commodity 
-Could drive upside in value traded via potential revival of mini contracts in base metals & crude

Multi Commodity Exchange of India was quoting at Rs 1,590.75, down Rs 13.40, or 0.84 percent on the BSE.

January 16, 2023 / 02:48 PM IST

Here are the stocks that are locked on the upper circuit or have only buyers; click to view more

January 16, 2023 / 02:43 PM IST

Jefferies view on Wipro

Broking firm Jefferies has kept the ‘underperform’ rating on the stock with a target at Rs 355 per share.

The Q3 was beat estimates due to a sharp rise in margin.

The broking house has lowered the revenue estimates by 1-2 percent but raise EPS estimates by 2-4 percent and expect company to deliver 11 percent EPS CAGR over FY23-25.

The slower than expected growth should drive further de-rating, reported CNBC-TV18.

Wipro was quoting at Rs 397.50, up Rs 3.85, or 0.98 percent.

January 16, 2023 / 02:37 PM IST

European Markets Updates

January 16, 2023 / 02:31 PM IST

December Trade Data: India December exports down 12.2 percent at $34.5 billion against $39.3 billion YoY. India December imports down 3.5 percent at $58.24 billion against $60.3 billion YoY. India December trade deficit up 12.8 percent at $23.76 billion against $21.10 billion YoY. Exports up 7.8 percent, imports up 4.2 percent and trade deficit down 0.5 percent MoM.

January 16, 2023 / 02:15 PM IST

KPI Green Energy signs long-term power purchase agreement for sale of 6.30 MW solar power to IPP companies:

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