Stocks to Watch: Tata Steel reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe
The Nifty Metal index seems to be eyeing a new historic peak at 6,900-level; Thus, select stocks from this space could rally up to 15 per cent on their respective breakouts.
Stocks to Watch Today: Shares of Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma are likely to see some action owing to Q2 results.
As per reports, Novelis has also lowered its capital expenditure (capex) outlook for FY23 to a range of $900 million- $1 billion from the previously guided $1.3-1.6 billion
Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses
Lockdowns in China, energy shortages in Europe and tightening interest rates may have an impact on production, leading to lower supply
Technically, probability of metal stocks entering a negative trend remains negligible. A resilient bullish trend seems clearly visible in Tata Steel and Vedanta.
Margin recovery expected in the second half of FY23
The company had posted net profit of Rs 2,787 crore in the year-ago period. On a sequential basis, net profit rose 7 per cent, from Rs 3,851 crore reported in the January-March quarter
The Reserve Bank of India (RBI) on Wednesday released its guidelines for digital lending, listing companies allowed in the business, the rules for loans and data collection, and how fee is charged
The company's net debt fell 19% from a year earlier to Rs 42,193 crore at the end of June, it said in the earnings presentation
Average stake down 40 bps from previous quarter at 22%
Aditya Birla Group's metals flagship Hindalco Industries and Aequs have entered into a strategic pact for long-term collaboration and joint business development in the commercial aerospace sector
Global growth is projected to slowdown from an estimated 6.1% in 2021 to 3.6% in 2022. Given this, Tata Steel, Hindalco Industries, and Vedanta have shed up to 35 per cent in the past one month
An economic slowdown or other factors may affect the economic health of the US, UK, the European Union, Australia or those industries where IT revenues are concentrated.
Stocks to Watch Today: The Aditya Birla Group has planned a massive Rs 77,000 crore capex; Meanwhile, this week the focus will be on rate sensitive sectors ahead of the RBI policy meet on Wednesday.
Stocks to Watch today: JSW Steel, FSN E-Commerce Ventures (Nykaa), Jubilant Pharma, GAIL, Glenmark Pharma, Godrej Industries, PB Fintech (Policy Bazaar) will be in focus ahead of their Q4 results.
Company shares closed trade on the BSE at Rs 407.75 apiece, up 2.75 per cent over the previous day's close.
CLOSING BELL: The S&P BSE Sensex traded in a broad range of 921 points on Thursday as it hit a high and low of 54,346 and 53,425, respectively
High input costs leading to margin pressure, lower-than-expected realisations are among downside risks