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BSE Midcap index shed 2 percent dragged by the Cholamandalam Investment and Finance Company, Voltas, Info Edge
Market at 12 PMBenchmark indices were trading near the day’s low levels with Nifty below 16400.The Sensex was down 936.14 points or 1.68% at 54766.09, and the Nifty was down 292.30 points or 1.75% at 16390.40. About 481 shares have advanced, 2587 shares declined, and 76 shares are unchanged.
Goldman Sachs view on TVS Motor:
Research house Goldman Sachs has maintained a neutral rating on TVS Motor Company with a target at Rs 660 per share.
Goldman Sachs expects a new electric 2-wheeler launch in H1FY23 & more product portfolio expansion. However, company management does not expect to pass on the entire impact from higher metal prices.
It could see some margin pressure in H1FY23, reported CNBC-TV18.
BSE Smallcap index fell 2 percent dragged by Cupid, Angel One, Coforge:
Premier Explosives receives order:Premier Explosives has received an order on worth Rs 104.84 crore (excluding GSn from Singareni Collieries Company Limited (A Government Company) for supply of SME explosives, LDC Explosives and Accessories for blasting in OB removal at Open Cast Projects of SCCL for a period of 2 years.
Voltas Q3 net profit fall 23.5 percent at Rs 182.7 croreVoltas has posted 23.5 percent fall in its Q4 net profit at Rs 182.7 crore versus Rs 238.7 crore and revenue was up 4.1% at Rs 2,666.6 crore against Rs 2,561.7 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was up 8.4% at Rs 261 crore versus Rs 240.8 crore and margin was at 9.8% versus 9.4%, YoY.
Foreign brokerages raise target of these 10 stocks; do you own any?
Cholamandalam Investment and Finance, Reliance Industries, ICICI Bank, Adani Ports, Tata Steel, Godrej Properties, Mahindra & Mahindra Financial Services, Maruti Suzuki, SBI Cards & Payment Services…
LIC IPO Subscription Updates:
Nifty Financial Services shed over 2 percent
#OnCNBCTV18 | Have enough domestic coal with us; have 71 mt of domestic coal. Power shortage is not as much as it is being projected, says @CoalMinistry @JoshiPralhad
Here’s more#CoalShortage #PowerCrisis #PowerShortageInIndia pic.twitter.com/zBJDxnO3Qd— CNBC-TV18 (@CNBCTV18Live) May 6, 2022
Government orders all imported-coal plants to operate at full capacity as power demand surges:
To tackle the persisting power crisis across India, the Centre has invoked Section 11 of the Electricity Act, mandating all imported coal-based projects to generate power at full capacity, the Ministry of Power said in a statement on May 5.
“All imported coal-based power plants shall operate and generate power to their full capacity. Where the imported coal-based plant is under National Company Law Tribunal (NCLT), the Resolution Professional shall take steps to make it functional,” the government ordered.
The order will operationalise at least seven gigawatt worth of power plants of Essar Power and Coastal Energen in states such as Gujarat, Andhra Pradesh and Tamil Nadu and will also apply to plants under NCLT.
It will also help restart non-operational units of Adani Power and Tata Power.