Page 463 - Markets
RBI renews statement of commitment to global code on best market practices
The FX Global Code, developed under Bank for International Settlements, Basel, compiles the practices formulated by central banks worldwide
 "RBI renews statement of commitment to global code on best market practices")
Oil stocks surge as govt cuts windfall tax on fuel exports, RIL up 4%
Petrol and diesel prices are down by $40-50 per barrel from month-ago levels
 "Oil stocks surge as govt cuts windfall tax on fuel exports, RIL up 4%")
Crypto markets rebound but assets future in India uncertain: Experts
From April 1, a 30 per cent tax was applied on income from the sale of cryptocurrency. From July 1, an additional 1 per cent tax was applied in the form of tax deducted at source (TDS)
 "Crypto markets rebound but assets future in India uncertain: Experts")
Subsidy withdrawal risk rings warning bell for fertilisers
Notwithstanding soaring input costs and supply snags, market has been bullish on fertiliser companies, thanks to the govt's subsidy support. But why are analysts cautious on fertiliser companies?
 "Subsidy withdrawal risk rings warning bell for fertilisers")
HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves
VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%
 "HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves")
Stock of this consulting services company has zoomed 594% thus far in 2022
Gensol Engineering was locked at 5 per cent upper circuit band for a third straight day
 "Stock of this consulting services company has zoomed 594% thus far in 2022")
Biggest market jump in a month adds Rs 3.4 trillion to investor wealth
1.4% jump comes on the back of easing recession fears, China policy support
 "Biggest market jump in a month adds Rs 3.4 trillion to investor wealth")
Valuations not comfortable in context of interest rates: Janakiraman R
Valuations have definitely come off over the past three quarters, said Janakiraman
 "Valuations not comfortable in context of interest rates: Janakiraman R")
HDFC Bk: Merger with HDFC, NIM compression near-term concerns, say analysts
HDFC Bank Q1 review: Issues with management's bandwidth in managing the balance sheet post merger remains key risks for upside, said Nomura
 "HDFC Bk: Merger with HDFC, NIM compression near-term concerns, say analysts")
Crypto m-cap tops $1 trillion; Bitcoin breaches $22,000-mark after a month
Bitcoin, the largest cryptocurrency by market cap, regained the $22,000 level and was trading at $22,241.17, over 4 per cent higher than the last close
 "Crypto m-cap tops $1 trillion; Bitcoin breaches $22,000-mark after a month")
Textile shares rally; VTL, Himatsingka, Nitin Spinners surge up to 19%
According to media reports, cotton price is expected to dip to Rs 60,000 per candy by December 2022 because of the slump in demand and the wait-and-watch strategy of the market players
 "Textile shares rally; VTL, Himatsingka, Nitin Spinners surge up to 19%")
L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR
L&T Realty has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet.
 "L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR")
Six of top-10 firms lose Rs 1.68 trillion in m-cap; TCS biggest laggard
Six of the 10 most valued firms suffered a combined erosion of Rs 1,68,260 crore from their market valuation last week, mainly dragged down by TCS amid an overall weak trend in the equity market
 "Six of top-10 firms lose Rs 1.68 trillion in m-cap; TCS biggest laggard")
This beaten down stock of a jewellery company has zoomed over 100% in July
PC Jeweller was locked at the 10 per cent upper circuit band, at Rs 47.35, on Friday. The stock has zoomed 106 per cent from a level of Rs 23 touched on June 30, 2022
 "This beaten down stock of a jewellery company has zoomed over 100% in July")
Birlasoft dips 11% in 2 days after stk turns ex-date for buyback, dividend
The board of Birlasoft, on May 23, 2022, had approved buyback of up to 7.8 million equity shares of Rs 2 each of the company at a price of Rs 500 per share through the tender offer
 "Birlasoft dips 11% in 2 days after stk turns ex-date for buyback, dividend")
Lumax Auto Technologies surges 10%, hits record high on improved outlook
In FY23, the company expects domestic sales and exports to rebound as the global economy (including India) is experiencing a strong recovery
HDFC Bank Q1 profit seen rising up to 33% YoY on low provisions: Analysts
Motilal Oswal Financial Services expects provisions to decline to Rs 3,730 crore in Q1FY23 from Rs 4,830 crore in Q1FY22
 "HDFC Bank Q1 profit seen rising up to 33% YoY on low provisions: Analysts")
Adani Enterprises hits record high on healthy outlook; rallies 11% in July
In the past six months, it has surged 28 per cent as against 12 per cent decline in the S&P BSE Sensex
 "Adani Enterprises hits record high on healthy outlook; rallies 11% in July")
Explained: What happens if the rupee hits 80 against the US dollar
When the value of a currency falls, imports become dearer and prices of raw materials rise
 "Explained: What happens if the rupee hits 80 against the US dollar")
TCS hits 52-week low; slips 9% in one week on Q1 margin disappointment
HSBC Securities believe relative premium to the market and likely slowdown in revenue growth will continue to restrict upside for IT stocks in the near term