Page 1201 - Markets News
US sales momentum, upward revision in margin guidance to support Cipla
The company's market share in Lanreotide (growth hormone disorder drug) improved from 18 per cent in Q1FY24 to 20 per cent now
 "US sales momentum, upward revision in margin guidance to support Cipla")
Stocks to Watch: TVS Motor, RIL, Tata Motors, Marico, DLF, Triveni Eng, P&G
Stocks to watch on October 31, 2023: Reliance Jio has made a contrarian call vis-a-vis competitors by deciding not to raise the 5G tariff, which is currently at the same level as 4G
 "Stocks to Watch: TVS Motor, RIL, Tata Motors, Marico, DLF, Triveni Eng, P&G")
Trading strategies for Nifty PSU Bank, Pvt Bank, Financial Services indices
According to Ravi Nathani, an independent technical analyst, the Nifty Pvt Bank and Financial Services indices can be bought on dips, while the Nifty PSU Bank index seems range-bound on the charts.
 "Trading strategies for Nifty PSU Bank, Pvt Bank, Financial Services indices")
Muthoot Microfin, Flair Writing, Happy Forgings get Sebi's nod for IPOs
In Sebi's parlance, obtaining an observation letter means it is the go-ahead to launch the public issue
 "Muthoot Microfin, Flair Writing, Happy Forgings get Sebi's nod for IPOs")
Foreign investors cut holdings of Indian stocks at fastest pace in months
India's benchmark NSE Nifty 50 Index has slipped 3.3% so far this month, faring a little better than the 3.8% decline seen in the broader MSCI Asia Pacific Index
 "Foreign investors cut holdings of Indian stocks at fastest pace in months")
Textile stocks rally up to 9%; Welspun, Indo Count hit fresh 52-week highs
Despite a slowdown in demand for various sectors, including textiles, Indian exporters are optimistic about a strong performance in 2023-24
 "Textile stocks rally up to 9%; Welspun, Indo Count hit fresh 52-week highs")
Analysts slash SBI Card's earnings estimates post Q2 result; shares tank 7%
SBI Card Q2 result: Analysts at Motilal Oswal Financial Services slashed SBI Card earnings by 8 per cent/10 per cent for FY24/FY25 as they expect the company to face margin pressure
 "Analysts slash SBI Card's earnings estimates post Q2 result; shares tank 7%")
Reliance gains 2% post September quarter results; brokerages remain upbeat
EBITDA increased by 30.2 per cent YoY to Rs 44,867 crore, on account of strong net subscriber addition and sharp increase in data traffic supported 80 bps margin improvements in Jio Platforms (JPL).
 "Reliance gains 2% post September quarter results; brokerages remain upbeat")
BS BFSI Summit: India is world's best growth story, says Christopher Wood
Markets may correct 25% if BJP loses in 2024: Chris Wood at BS BFSI Summit
 "BS BFSI Summit: India is world's best growth story, says Christopher Wood")
ETF debuts in US set to break 2021 record as active-fund issues jump
Last month, ETF debuts set a monthly record of 69. So far in October, the total stands at 47, according to Morningstar Direct data
 "ETF debuts in US set to break 2021 record as active-fund issues jump")
17% households invest in stocks, i-bankers should get good cos to mkts: NSE
There are 8 crore unique investors from 5 crore households who are invested, says Ashish Chauhan
 "17% households invest in stocks, i-bankers should get good cos to mkts: NSE")
Sensex zooms 330 pts, Nifty tops 19,100; RIL gains 2%, ICICI, HDFC Bank 1%
BS BFSI Summit 2023: The economists' panel sees growth risks growing for India amid global gloom and doom. Soumya Kanti Ghosh of SBI sees first rate cut bymid-2024
 "Sensex zooms 330 pts, Nifty tops 19,100; RIL gains 2%, ICICI, HDFC Bank 1%")
Stock of this iron & steel products company has zoomed 103% in 4 months
Thus far in the calendar year 2023, the stock price of Goodluck India has skyrocketed nearly 130 per cent, as compared to 4.6 per cent rise in the S&P BSE Sensex
 "Stock of this iron & steel products company has zoomed 103% in 4 months")
RateGain hits new high on strong Q2 results; zooms over 100% in 7 months
Despite recent macro uncertainty, the management sees growth holding steady across the travel space but will maintain a cautiously optimistic approach keeping an eye on developments across key regions
 "RateGain hits new high on strong Q2 results; zooms over 100% in 7 months")
M&M Finance slides to 6-month low, down 11% on disappointing Q2 margins
The company said the margins were impacted by higher borrowing rates coupled with change in portfolio mix in favour of better credit quality customers.
 "M&M Finance slides to 6-month low, down 11% on disappointing Q2 margins")
Mahanagar Gas soars 7% as PAT more-than-doubles in Q2, margins expand
Ebitda margin stood at 30.5 per cent in the Q2FY24 as compared to 16.2 per cent in Q2FY23
 "Mahanagar Gas soars 7% as PAT more-than-doubles in Q2, margins expand")
Stocks to Watch: Reliance, Ultratech Cement, AU SFB, NTPC, Gujarat Gas, MGL
Stocks to watch on October 30, 2023: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal; Gujarat Gas has hiked industrial gas price to Rs 45.6 per scm
 "Stocks to Watch: Reliance, Ultratech Cement, AU SFB, NTPC, Gujarat Gas, MGL")
Cipla surges 4% on beating Q2 estimates; profit jumps 43%, revenue up 15%
The positive growth was aided by strength in domestic as well as US sales. Its overall Q2 revenue was its highest ever in a quarter, Cipla said.
Nifty expected to consolidate; Look to buy Bank Nifty on dips
According to Ravi Nathani, an independent technical analyst, the NSE Nifty 50 is likely to trade in the 19,350 - 18,800 range.
 "Nifty expected to consolidate; Look to buy Bank Nifty on dips")
Statsguru: Analysing impact of rising US bond yields on Indian stock market
Foreign exchange reserves have declined by around $25 billion from the highest point in 2023
 "Statsguru: Analysing impact of rising US bond yields on Indian stock market")