Page 1412 - Markets News
Ashok Leyand shares climb 5% after firm reports jump in Q3 profits
Shares of Ashok Leyand on Thursday climbed 5 per cent after the firm reported a multi-fold jump in its profit after tax for the third quarter ended December
 "Ashok Leyand shares climb 5% after firm reports jump in Q3 profits")
Britannia soars 5% to hit record high on strong Q3 operational performance
The management said that the go-to-market strategy and investments in brands & innovation helped the company register a robust topline growth of 16 per cent YoY
 "Britannia soars 5% to hit record high on strong Q3 operational performance")
LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
 "LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends")
ITC jumps 6% to scale new lifetime high ahead of Q3FY23 results
Brokerages believe that the proposed tax hike on cigarette in the Union Budget 2023 is not very high and would be easily passed on through small price increases
 "ITC jumps 6% to scale new lifetime high ahead of Q3FY23 results")
Jubilant Food dips 13% in 2 days, hits lowest level since Dec'20 on weak Q3
The stock hit 52-week low today after the historic high inflation in cheese and flour prices significantly impacted gross margins, which came in at 75.5%, lower by 213 bps year-on-year
 "Jubilant Food dips 13% in 2 days, hits lowest level since Dec'20 on weak Q3")
Rs 8.7 trn mcap loss for Adani cos in 6 days; Adani Ent tanks 35% since Tue
Given the unprecedented situation and the current market volatility, Adani Enterprises has cancelled its Rs 20,000 crore follow-on-offer (FPO)
 "Rs 8.7 trn mcap loss for Adani cos in 6 days; Adani Ent tanks 35% since Tue")
Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone
Natural Gas futures have tumbled over 74 per cent their record highs. The commodity is now seen trading below major monthly moving averages after two years.
 "Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone")
Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
 "Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?")
Ravi Nathani recommends to wait for correction to complete in these sectors
According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.
 "Ravi Nathani recommends to wait for correction to complete in these sectors")
Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance
Stocks to watch today: The Board of Adani Enterprises (AEL) has announced that it will not go-ahead with the fully subscribed Follow-on Public Offer (FPO)
Bond yield hits 6-week low as Budget sticks to path of fiscal consolidation
Govt move to tax high-value insurance policies may hit demand for long-term bonds: Analysts
 "Bond yield hits 6-week low as Budget sticks to path of fiscal consolidation")
Life insurance stocks tumble as govt proposes to tax high premium policies
Govt aims to curb misuse of Section 10(10D) of I-T Act with this proposal; new rule applicable on policies issued on or after April 1, 2023
 "Life insurance stocks tumble as govt proposes to tax high premium policies")
On a day of 'no negative surprises': Adani stock rout spoils party
Nifty falls over 2% from day's high to end in the red...
 "On a day of 'no negative surprises': Adani stock rout spoils party")
Budget ends tax advantage in MLDs, move to impact wealthy investors
Products that invest in fixed-income and derivative instruments enjoyed taxation for bonds
 "Budget ends tax advantage in MLDs, move to impact wealthy investors")
Budget 2023 a balancing act with focus on prosperity and inclusiveness
Budget 2023: Raising of tax slabs along with reduction in peak surcharge shall result in around Rs 35,000 crore being saved by tax payers and hopefully being spent to boost consumption
 "Budget 2023 a balancing act with focus on prosperity and inclusiveness")
OFCD case: Sebi orders attachment of Subrata Roy's bank, demat accounts
In its notice, Sebi has directed all banks to attach all accounts, including lockers, of these four persons
 "OFCD case: Sebi orders attachment of Subrata Roy's bank, demat accounts")
Sensex ends 158 pts up on Budget day after 2000 pts-swing, Nifty near 17600
CLOSING BELL: Broader markets were unable to recover from the intra-day lows with BSE Midcap and Smallcap indices dropping up to 1 per cent
 "Sensex ends 158 pts up on Budget day after 2000 pts-swing, Nifty near 17600")
Rupee falls by 2 paise to close at 81.90 against US dollar on Budget day
The rupee pared initial gains and settled 2 paise lower at 81.90 (provisional) against the US dollar on Wednesday after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24
 "Rupee falls by 2 paise to close at 81.90 against US dollar on Budget day")
Rout in Adani Group stocks triggers panic sell-off in PSU banks
A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans
 "Rout in Adani Group stocks triggers panic sell-off in PSU banks")
Aquaculture stocks soar after govt slashes customs duty on shrimp feed
Shares of Avanti Feeds, Coastal Corporation, and Waterbase soared up to 20 per cent in trade, as against a 2.05 per cent climb in the S&P BSE Sensex
 "Aquaculture stocks soar after govt slashes customs duty on shrimp feed")