Page 1568 - Markets News
Nomura cuts 2023 India GDP forecast to 4.7% amid recession fears
Despite the government's recent fiscal steps to counter inflation, Nomura believes, there are upside risks to inflation from the continued pass-through of higher input costs
 "Nomura cuts 2023 India GDP forecast to 4.7% amid recession fears")
SAT directs Shivinder Singh to deposit 50% of Sebi's penalty in Fortis case
If the amount is deposited, then the markets regulator will not make further recovery, the Securities Appellate Tribunal (SAT) said in its order passed on July 8.
 "SAT directs Shivinder Singh to deposit 50% of Sebi's penalty in Fortis case")
NSE IFSC-SGX Connect launch postponed due to flood situation in Gujarat
The launch, which was to bring SGX Nifty trading at Gift City IFSC, was due to get operationalised on Friday by Prime Minister Narendra Modi
 "NSE IFSC-SGX Connect launch postponed due to flood situation in Gujarat")
Strong season, new markets to drive gains for Varun Beverages' stock
Operating leverage, product mix to offset raw material pressures, say brokerages
 "Strong season, new markets to drive gains for Varun Beverages' stock")
CARE Ratings surges 10% as board to consider share buyback plan on July 20
In the past six months, CARE Ratings has underperformed the market by falling 27 per cent, as compared to a 12 per cent decline in the S&P BSE Sensex.
 "CARE Ratings surges 10% as board to consider share buyback plan on July 20")
Looking at domestic flows, peak pessimism hasn't reached yet: ICICI Sec CIO
'Foreign institutional investment (FII) is expected to reverse when these macro headwinds stabilise for a few months'
 "Looking at domestic flows, peak pessimism hasn't reached yet: ICICI Sec CIO")
Sensex, Nifty reverse early gains amid weak trends in European markets
The 30-share BSE Sensex declined by 372.46 points or 0.69 per cent to close at 53,514.15, extending its falling streak to a third day
 "Sensex, Nifty reverse early gains amid weak trends in European markets")
Led by new-gen investors, mobile trading accounts for a fifth of trades
Higher smartphone penetration and lower data charges are powering this trend, say industry players
 "Led by new-gen investors, mobile trading accounts for a fifth of trades")
Hindustan Zinc to pay Rs 21 per share dividend, outflow at Rs 8,873 cr
July 21 set as record date for payout; stock up 1.44% on BSE
 "Hindustan Zinc to pay Rs 21 per share dividend, outflow at Rs 8,873 cr")
Sensex slips 372 points, Nifty below 16K; Reliance, HDFC twins sink 2%
The BSE Sensex fell 372 points at close to 53,514. The index had previously risen 325 points to the day's high.
 "Sensex slips 372 points, Nifty below 16K; Reliance, HDFC twins sink 2%")
Insecticides India up 3% in weak market; hits 52-wk high on healthy outlook
For FY23, the management expects the top line to grow by a double digit, mainly driven by expansion of facilities, addition of new generation products and significant number of product registrations.
 "Insecticides India up 3% in weak market; hits 52-wk high on healthy outlook")
KEC Intl, Macrotech: 5 Nifty 500 stocks that are on the verge of a breakout
KEC International and Shriram Transport Finance can soar up to 22 per cent, while Macrotech Developers, Gujarat Fluorochemicals and Godrej Consumer can rally up to 15 per cent, show charts.
 "KEC Intl, Macrotech: 5 Nifty 500 stocks that are on the verge of a breakout")
Varun Beverages hits new high on strong earnings hope; rises 16% in a month
The management remains confident of delivering healthy volume growth in the medium to long-term on the back of strong demand momentum.
 "Varun Beverages hits new high on strong earnings hope; rises 16% in a month")
Gokaldas Exports slips 7%, stock hits over 6-month low
According to a report, global garment retailers are asking Indian exporters to reduce apparel prices as cotton prices have dropped 16 per cent and the Indian rupee has devalued against the US dollar.
 "Gokaldas Exports slips 7%, stock hits over 6-month low")
Front-running scandal at Axis Mutual Fund set to rock $465-bn MF industry
Axis Asset Management Co, India's seventh largest mutual fund manager and partly owned by Schroders, in May sacked two employees, including its chief dealer, amid an ongoing internal probe
 "Front-running scandal at Axis Mutual Fund set to rock $465-bn MF industry")
Stocks to watch: HCL Tech, Mindtree, Tata Metaliks, SBI, ICICI Bank, NMDC
Stocks to watch today: Mindtree, Tata Metaliks will report their June quarter 2022 (Q1FY23) results on Wednesday, July 13; NMDC will be removed from the Nifty CPSE index post hive off of NMDC Steel.
 "Stocks to watch: HCL Tech, Mindtree, Tata Metaliks, SBI, ICICI Bank, NMDC")
Nifty can target 16,650 in the short-term, says Vinay Rajani
The technical analyst from HDFC Securities also recommends buying CCL Products and Torrent Pharma.
 "Nifty can target 16,650 in the short-term, says Vinay Rajani")
Global squeeze on energy supply may get worse, warns IEA's Fatih Birol
"The world has never witnessed such a major energy crisis in terms of its depth and its complexity," IEA Executive Director Fatih Birol said Tuesday at a global energy forum in Sydney
 "Global squeeze on energy supply may get worse, warns IEA's Fatih Birol")
Rupee falls to a fresh low, just 40 paise away from 80 per dollar
The rupee settled at 79.60 per US dollar, as against 79.44 per US dollar at its previous close
 "Rupee falls to a fresh low, just 40 paise away from 80 per dollar")
Demand outlook remains robust for Blue Dart Express, say brokerages
Blue Dart Express posted 34 per cent revenue growth in 2021-22, assisted by 30 per cent growth in volumes; the rest came from higher realisations
 "Demand outlook remains robust for Blue Dart Express, say brokerages")