Page 1092 - Markets News
Mid, SmallCap indices slip up to 3% on May 7; analysts cite rich valuations
Among midcaps Lupin fell 6.58 per cent at Rs 1569 as the pharma major missed street expectations in its January-March quarter earnings
 "Mid, SmallCap indices slip up to 3% on May 7; analysts cite rich valuations")
Zee Entertainment hits over four-year low; tanks 52% thus far in CY 2024
Analysts at Emkay Global Financial Services said Zee's near-term performance is likely to further deteriorate from current levels
 "Zee Entertainment hits over four-year low; tanks 52% thus far in CY 2024")
14 hours a day: Global stock exchanges with trading time more than BSE, NSE
By definition, 'trading hour' is defined as the time span during which a stock exchange is open. During this period, shares and derivative contracts are bought and sold
 "14 hours a day: Global stock exchanges with trading time more than BSE, NSE")
Arvind shares jump over 6%, hits record high after Q4 results
Arvind's topline grew 8.7 per cent year-on-year (Y-o-Y) to Rs 2,074.5 crore in Q4FY24, compared to Rs 1,880.7 crore in the corresponding period of the previous fiscal year
 "Arvind shares jump over 6%, hits record high after Q4 results")
This SME stock has surged 100% in 1 month; zoomed 330% against IPO price
Shares of KP Green Energy (KPGE) locked in upper circuit for the fourth straight day, up 5 per cent at Rs 619.85 on the BSE on Tuesday at 12:50 pm; in otherwise a weak market.
 "This SME stock has surged 100% in 1 month; zoomed 330% against IPO price")
India VIX jumps 72% from April lows; up 5% today. What's behind the surge?
Analysts attribute this rise to nervousness ahead of the outcome of Lok Sabha elections on June 4, and expect India VIX to continue its journey north as the election outcome day nears.
 "India VIX jumps 72% from April lows; up 5% today. What's behind the surge?")
DCM Shriram falls over 7% after weak March quarter results
DCM Shriram's operating margin squeezed 180 basis points (bps) to 13.1 per cent in the March quarter
 "DCM Shriram falls over 7% after weak March quarter results")
Pharma major Lupin slides 5% as Q4 earnings miss street expectations
Mumbai-based Lupin posted a 52 percent year-on-year increase in consolidated net profit, reaching Rs 359.43 crore for the January-March quarter of FY24
 "Pharma major Lupin slides 5% as Q4 earnings miss street expectations")
HPCL, BPCL gain up to 4% on bonus issue plan; IOCL down 2%
The boards of directors of HPCL, and BPCL are scheduled to meet on Thursday, May 9, 2024 to consider bonus issue plan
 "HPCL, BPCL gain up to 4% on bonus issue plan; IOCL down 2%")
Yen eases despite intervention threat, as RBA keeps interest rates steady
At the RBA's last meeting in mid-March, policymakers watered down their tightening bias, although Bullock declined to say whether policy has shifted to neutral
 "Yen eases despite intervention threat, as RBA keeps interest rates steady")
CG Power zooms 6%, hits 52-week high on decent rise in Q4 revenues
The company registered standalone profit after tax (PAT) of Rs 240.59 crore for Q4FY24, slightly higher than Rs 240.23 crore from the corresponding period last year
 "CG Power zooms 6%, hits 52-week high on decent rise in Q4 revenues")
L&T Q4 preview: Company may see 22% YoY jump in PAT; check key monitorables
On a quarter on quarter (Q-o-Q) basis, the company may see a sequential surge of 15-20 per cent in revenue in the January-March of FY24
 "L&T Q4 preview: Company may see 22% YoY jump in PAT; check key monitorables")
FMCG shares in demand; Marico, Godrej, Dabur, HUL rally up to 10%
The rural demand has seen gradual improvement and management of the companies expects visibility on green shoots on the back of better monsoons and higher infra spend by the Government of India.
 "FMCG shares in demand; Marico, Godrej, Dabur, HUL rally up to 10%")
These 5 stocks have slipped over 10% in a month, but there's room for more
Adani Enterprises, Titan, Paytm and HCL Technologies and 24 others among the NSE 500 have declined over 10% in the last one month. Here are five stocks that look weaker on charts for now.
 "These 5 stocks have slipped over 10% in a month, but there's room for more")
Marico surges 10%, hits over 7-month high on promising FY25 outlook
The management is optimistic about growth revival in FY25 and expects double-digit revenue growth, driven by healthy volume growth
 "Marico surges 10%, hits over 7-month high on promising FY25 outlook")
Asian shares at 15-mth high on rate cut bets; RBA seen turning hawkish
Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1 per cent rise overnight
 "Asian shares at 15-mth high on rate cut bets; RBA seen turning hawkish")
Govt bond yields likely to consolidate with benchmark yield at 7.10%
Bond yields declined at the start of the week, as the government announced a surprise buyback of bonds worth Rs 40,000 crore ($4.79 billion)
 "Govt bond yields likely to consolidate with benchmark yield at 7.10%")
Stocks to watch, May 7: Wipro, Bajaj Finserv, Zee Media, Muthoot Microfin
Stocks to Watch on May 7, 2024: Wipro partnered with Microsoft to introduce a suite of Generative AI-powered virtual assistants for financial services
 "Stocks to watch, May 7: Wipro, Bajaj Finserv, Zee Media, Muthoot Microfin")
IndiGo, Lupin, DCM Shriram and Gujarat Gas among six stocks to watch today
Stocks to Watch on May 7: Lupin Limited posted a 52 per cent year-on-year (Y-o-Y) surge in its consolidated net profit, reaching Rs 359.43 crore
 "IndiGo, Lupin, DCM Shriram and Gujarat Gas among six stocks to watch today")
This Tata group company is among Sharekhan's top stock picks for today
TCS has witnessed buying interest from the 50 per cent Fibonacci retracement level (3780) of the previous rise from 3,311 - 4255. Positive divergence is also witnessed on the daily charts