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Market LIVE Updates: Sensex, Nifty trade flat; IT stocks under pressure, RIL most active – Moneycontrol

July 22, 2022 / 08:32 AM IST

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!

July 22, 2022 / 11:31 AM IST

Fitch downgrades Jubilant Pharma

Fitch Ratings has downgraded Singapore-based Jubilant Pharma Limited’s (JPL) Long-Term Issuer Default Rating (IDR) to ‘BB-‘, from ‘BB’. The Outlook is Stable. 

Fitch has also downgraded the company’s senior unsecured rating and the rating on its USD200 million 6.00% senior unsecured notes due 2024 to ‘BB-‘, from ‘BB’, with a Recovery Rating of ‘RR4’. All ratings have subsequently been withdrawn.

July 22, 2022 / 11:28 AM IST

Today’s Stock Market Action

Today’s Stock Market Action

July 22, 2022 / 11:23 AM IST

Shaktikanta Das on Rupee Movement 

Rupee is holding up well with forex reserves are adequate. Will ensure Rupee finds level in line with fundamentals with no particular level of Rupee in mind. 

July 22, 2022 / 11:14 AM IST

July 22, 2022 / 11:04 AM IST

Indian economy better placed despite global headwinds, affirms RBI governor:

Reserve Bank of India (RBI) Governor Shaktikanta Das on July 22 said the Indian economy is relatively better placed amid a turbulent global economic scenario, drawing strength from its strong macroeconomic fundamentals.

Addressing a banking event in Mumbai, Das noted that the Indian banking system is well capitalised, asset quality has improved and banks have returned to profitability, Das said the RBI remains watchful to ensure price stability.

The rate-setting panel hiked interest rates by a cumulative 90 basis points in recent months to fight a high inflation that has stayed above the 6 percent mark for six months in a row.

July 22, 2022 / 11:00 AM IST

Market update at 11 AM: Sensex is up 70 points or 0.13% at 55751.95, and the Nifty added 27.20 points or 0.16% at 16632.50.

Market update at 11 AM: Sensex is up 70 points or 0.13% at 55751.95, and the Nifty added 27.20 points or 0.16% at 16632.50.

July 22, 2022 / 10:44 AM IST

Welspun Corp arm commissions blast furnace and sinter plant in Gujarat

Welspun Corp announced the commissioning of its blast furnace and sinter plant, and TMT bars manufacturing facility at Anjar, Gujarat through its wholly owned subsidiaries. The blast furnace can produce approximately 5 lakh MT of hot metal per annum and TMT bar facility has a capacity of 3.5 lakh MT per annum.

Welspun Corp was quoting at Rs 209.35, down Rs 1.85, or 0.88 percent.

July 22, 2022 / 10:44 AM IST

India’s largest equity mutual fund manager Prashant Jain calls it quits

One of India’s longest-serving mutual-fund managers and the only one to have managed a mutual fund scheme since inception for 28 years has decided to move on. Prashant Jain, chief investment officer of HDFC AMC is understood to be leaving the company, it is reliably learnt.

As the CIO of the mutual fund, he was responsible for overseeing total assets under management of Rs 4.12 lakh crore as on June 30, 2022, and directly managing over Rs 1 lakh crore under four predominantly equity schemes.

July 22, 2022 / 10:43 AM IST

Buzzing

Yes Bank shares continued to see buyer interest for a fifth straight day on July 22 amid reports that Carlyle and Advent were close to acquiring a large stake in the firm.

This comes after the private lender tied up with JC Flowers Asset Reconstruction Co for the sale of its bad loans.

Media reports have said Carlyle’s and Advant’s top brass have held a series of meetings this week with the senior management of Yes Bank and the State Bank of India, the largest shareholder in the private lender, as well as Reserve Bank of India (RBI) officials to fine-tune the contours of the deal.

July 22, 2022 / 10:30 AM IST

Results Today

Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital, and Zenotech Laboratories will be in focus ahead of June 2022 quarter earnings on July 22.

July 22, 2022 / 10:21 AM IST

RBL Bank reports Q1 profit at Rs 201 croreRBL Bank has reported a profit at Rs 201 crore for the quarter ended June 2022, against loss of Rs 459 crore in same period last year, aided by 82% decline in provisions. Net interest income grew by 6% YoY to Rs 1,028 crore, but other income fell 6% to Rs 614 crore for the quarter. Advances grew by 7% and deposits registered a 6% growth YoY.

RBL Bank reports Q1 profit at Rs 201 crore     RBL Bank has reported a profit at Rs 201 crore for the quarter ended June 2022, against loss of Rs 459 crore in same period last year, aided by 82% decline in provisions.     Net interest income grew by 6% YoY to Rs 1,028 crore, but other income fell 6% to Rs 614 crore for the quarter. Advances grew by 7% and deposits registered a 6% growth YoY.