Deepak Korgaonkar
Deepak Korgaonkar
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ABB India hits new high on strong Q1 results; stock up 33% so far in 2023
ABB's order inflows came at Rs 3,125 crore, up 36.4 per cent year-on-year (YoY) with order backlog of Rs 7,170 crore, which was up by 37.1 per cent, YoY.
 "ABB India hits new high on strong Q1 results; stock up 33% so far in 2023")
PI Industries derisks biz with lucrative pharma buys; stock up 10.2%
Brokerages have upgraded estimates for firm, expect return ratios to improve
 "PI Industries derisks biz with lucrative pharma buys; stock up 10.2%")
ITC extends rally, hits new high; surges 25% so far in calendar year 2023
Thus far in calendar year 2023, ITC surpassed Infosys, HDFC, SBI, Bharti Airtel, Adani Enterprises and Life Insurance Corporation of India (LIC) in market-cap ranking.
 "ITC extends rally, hits new high; surges 25% so far in calendar year 2023")
New dividend, bonus share policy to create value for Gujarat PSUs: Analysts
Analysts believe the move will create shareholder value
 "New dividend, bonus share policy to create value for Gujarat PSUs: Analysts")
Ipca Labs dips 9%, hits 52-wk low on plan to buy 33.4% stake in Unichem Lab
Brokerages believe the acquisition is expensive, given increased competition in the US generics oral solids space, rising regulatory risks and strong efforts needed to turnaround Unichem Labs
 "Ipca Labs dips 9%, hits 52-wk low on plan to buy 33.4% stake in Unichem Lab")
RBI order insures gains for HDFC Life stock; analysts see up to 83% upside
RBI's permission to increase stake in subsidiaries puts an end to the overhang on the stock, said Motilal Oswal in a note
 "RBI order insures gains for HDFC Life stock; analysts see up to 83% upside")
Sun Pharma's Mohali facility to pause supplies to the US; stock dips 3%
Although the overall impact could be minimal (being an OSD facility), this may lead to stricter scrutiny for other plants, said ICICI Securities in a note.
 "Sun Pharma's Mohali facility to pause supplies to the US; stock dips 3%")
ITC surpasses HDFC's m-cap to become 7th most valued listed company
Thus far in calendar year 2023 (CY23), ITC has surged 22%, as compared to 3% decline in the S&P BSE Sensex, and 2.4% rise in HDFC Ltd
Voda Idea soars 10% as Kumar Mangalam Birla rejoins board after two years
Birla's re-appointment on the board signals the group's commitment to the company as it continues its efforts to find an investor.
 "Voda Idea soars 10% as Kumar Mangalam Birla rejoins board after two years")
ITC m-cap hits Rs 5-trn for the first time; stock surges 21% so far in CY23
ITC is expected to maintain its volume growth momentum in the cigarette business, given no price hikes in the near term and government curbing illicit cigarette sales
 "ITC m-cap hits Rs 5-trn for the first time; stock surges 21% so far in CY23")
ICICI Lombard dips 4% post March quarter results
The country's largest private sector general insurer reported a 39.6 per cent surge in net profit to Rs 436.96 crore in Q4FY23, aided by a lower loss ratio and a dip in underwriting losses.
 "ICICI Lombard dips 4% post March quarter results")
ITC hits new high, tops Rs 400-mark; stock doubles in less than two years
FPIs have increased their stake in ITC for the third straight quarter to 12.87 per cent at the end of March 2023 quarter.
 "ITC hits new high, tops Rs 400-mark; stock doubles in less than two years")
Infosys tanks 12%, hits 52-week low on disappointing March quarter results
The company's performance was subdued owing to unplanned project ramp-downs and delays in decision-making by the clients.
 "Infosys tanks 12%, hits 52-week low on disappointing March quarter results")
Tata Motors surges 8% on better than expected JLR wholesales in Q4
Tata Motors' wholesales of 107,386 units at JLR for Q4FY23, comes as a positive development as, during the last call, the company had guided for wholesales at over 80,000 units
 "Tata Motors surges 8% on better than expected JLR wholesales in Q4")
Rate sensitive shares gain up to 3% as RBI keeps repo rate unchanged
SBI, Indian Bank, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Canara Bank and Punjab National Bank from the PSU banks were up in the range of 1 - 3 per cent.
 "Rate sensitive shares gain up to 3% as RBI keeps repo rate unchanged")
Larsen & Toubro gains nearly 3% as hydrocarbon business wins mega contract
The engineering and construction company, however, did not provide the exact value of the contract, but specified that as per its classification, a mega project is of over Rs 7,000 crore.
 "Larsen & Toubro gains nearly 3% as hydrocarbon business wins mega contract")
CLSA upgrades Bajaj Finance as it logs record customer, loan growth in Q4
Loans booked by consumer financier Bajaj Finance jumped 20 per cent YoY to 7.6 million in Q4FY23, taking the total loans booked by the lender in FY23 to 29.6 million, its highest-ever in a year
 "CLSA upgrades Bajaj Finance as it logs record customer, loan growth in Q4")
ONGC, Oil India surge up to 6% as oil prices rise post OPEC+ output cut
Sustained higher crude oil prices and gas realisations can result in better profitability for upstream oil and gas companies, analysts said
 "ONGC, Oil India surge up to 6% as oil prices rise post OPEC+ output cut")
RIL up 4%; Lenders, shareholders to meet May 2 for financial arm's demerger
The move is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022.
 "RIL up 4%; Lenders, shareholders to meet May 2 for financial arm's demerger")
Inflation, rate hikes play market party poopers in FY23; smallcaps hit hard
The small-caps were hit on the chin with the S&P BSE Small-cap index slipping nearly 7 per cent thus far during in FY23, underperforming the S&P BSE Midcap and the BSE 500 indexes
 "Inflation, rate hikes play market party poopers in FY23; smallcaps hit hard")
