Page 13 - Stocks

SpiceJet stock recovers most of early lost ground; settles over 3% lower

Shares of SpiceJet recovered most of their early lost ground and settled over 3 per cent lower on Thursday. Earlier in the day, it tumbled nearly 15 per cent after the company reported widening of net loss at Rs 789 crore during the April-June quarter of FY23. The company's stock tanked 14.65 per cent to Rs 39.60 during the early trade on the BSE. Later, it recovered most of the lost ground and settled at Rs 44.95, lower by 3.13 per cent. On the BSE, 15.66 lakh shares of the company were traded during the day. The BSE Sensex fell 770.48 points or 1.29 per cent to settle at 58,766.59. SpiceJet on Wednesday reported widening of net loss to Rs 789 crore in June quarter 2022-23 as high fuel prices and rupee depreciation adversely impacted the budget carrier. Apart from facing financial turbulence, SpiceJet aircraft have been involved in a series of incidents in the past, following which the Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline. T

Adani group stocks fall; Adani Power, Adani Wilmar decline nearly 5%

Most of the Adani group stocks ended lower on Tuesday following a report that the conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses. Shares of Adani Power fell 4.99 per cent, Adani Wilmar went lower by 4.73 per cent and Adani Green Energy declined 4.15 per cent on the BSE. Adani Power and Adani Wilmar hit their lower circuit limits during the day. Also, Adani Enterprises fell 0.93 per cent and Adani Ports and Special Economic Zone dipped 0.32 per cent. However, Adani Transmission jumped 3.23 per cent and Adani Total Gas climbed 1.73 per cent. In the broader market, the 30-share BSE benchmark climbed 257.43 points or 0.44 per cent to settle at 59,031.30. Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said

US: Companies facing first tax on stock buybacks in Joe Biden's bill

Democrats have pulled off a quiet first in their just-passed legislation: the creation of a tax on stock buybacks, a cherished tool of Corporate America that had long seemed untouchable.

Rakesh Jhunjhunwala's near $4-bn stock holdings in focus after death

Jhunjhunwala was among the most influential market voices in Asia's third-biggest economy, with an intense following among the nation's growing horde of retail investors.

This Rakha Bandhan, gift your sister financial security: here are some tips

Here are some of the financial products a brother can gift to his sister on the occasion of Raksha Bandhan

Tata Communications: Ongoing supply-side headwinds to hurt near term

Original equipment manufacturer (OEM) lead time issues, which had worsened during the April-June quarter, rose four times as compared to the earlier 12-16 weeks.

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

Match limited exposure with long investment horizon for small-caps' safety

Hold only a couple of funds and diversify across growth and value style

Muted Q1 may cap upsides in Marico stock as leading brands underperform

The underperformance for the owner of Parachute and Saffola brands could continue as the June quarter operational performance for the India market was below expectations

ICICI Securities falls 1% as CLSA downgrades rating, earnings view

Shares of the largest listed brokerage have nearly halved this year

Market correction is a good opportunity to pick up quality stocks

It is difficult to purchase such stocks during bull runs when their valuations turn exorbitant

No let-up in market sell-off as recession fears build for world economies

Experts said risk aversion among investors is due to scepticism over whether policymakers will be able to achieve aggressive monetary tightening to tame inflation without triggering recession

Amfi stock reclassification review period nears end, lifting these stocks

Twelve stocks are moving from mid-cap to small-cap, reveals an analysis by analyst Brian Freitas of Periscope Analytics

Jain Irrigation to merge international biz with Temasek-backed Rivulis

The cash proceeds will be used to pay off Rs 2,700 crore of overseas debt

Higher prices of natural gas take the steam out of gas utility stocks

However, despite the likely pressure on volumes and margins, and having cut earnings estimates, most analysts are positive on the natural gas sector

Here are five new stock market entrants that will see $105 mn in FPI flows

Move follows addition to the FTSE index; adjustment to take place on Friday

LIC shares face renewed selling pressure as anchor lock-in ends; fall 4.5%

Analysts said this week is likely to be a litmus test for LIC on whether the stock finds buying support from institutional investors like mutual funds at these lower valuations

Advance-decline ratio remains below 1 for second month in a row

The advance decline ratio (ADR) for May was 0.84, with 1,718 stocks advancing and 2,037 declining

The worst may be over for China stocks with tech probe's end in sight

The CSI 300 Index of onshore stocks is up 10% since a two-year low in late April, outperforming almost every national benchmark tracked by Bloomberg

Inflation: How bad for stocks?

If monetary tightening affects discretionary spending (of the middle class and the poor) and non-essential assets mainly, how will demand for the essential items shrink?