The Reserve Bank of India (RBI) should pause interest rate hikes, despite unacceptably high inflation, to avoid stalling a recovery in economic growth, monetary policy committee member Jayant Varma told Reuters in an interview on Monday.
Varma’s comments came as the RBI, in its monthly bulletin on Monday, said the country’s retail inflation was set to ease from the five-month high of 7.41% hit in September, while economic activity is poised to expand.
In broader Asia, equities rose as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week.
In domestic trading, Nifty’s automobile, IT , energy and public sector bank indexes climbed more than 1% each.
Inflow of funds from domestic investors in equities were strong even as foreign institutional investors sold shares.
Foreign investors sold a net of 3.72 billion Indian rupees ($45.3 million) worth of equities on Monday, while domestic investors bought 15.82 billion rupees worth of shares, the National Stock Exchange’s provisional data showed.
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Q2 EARNINGS | TATA COMMUNICATIONS
- PAT at Rs 532 crore; revenue at Rs 4430 crore
EARNINGS WATCH | PRAJ INDS
#EarningsWithETNOW | Praj Industries Q2 – Cons PAT at Rs 48.1 cr vs Rs 33.3 cr YoY – Cons revenue from ops at Rs… https://t.co/FKMFqUQ4o8
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Market live updates: FMCG stocks rise up to 3%
Price as on 18 Oct, 2022 02:08 PM, Click on company names for their live prices.
BUZZING STOCK: BHEL
#StocksInFocus | BHEL Biggest single-day gain since Apr 1, 2022 Volumes at 2.5x 20-day avg Trades above all key… https://t.co/D8ezTLKS8r
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Capacite Infraprojects gets order worth Rs 151 crore
Board Meeting of Canara Bank is scheduled to be held on Thursday, 20th October 2022 to consider and approve the financial results for the second quarter (Q2)
Price as on 18 Oct, 2022 12:38 PM, Click on company names for their live prices.
Market live updates: Star Housing Finance Ltd said the company’s board approved the sub-division of shares in ratio of 1:1; stock rallies 8%
Price as on 18 Oct, 2022 12:35 PM, Click on company names for their live prices.
Zee’s 99.99% of shareholders have given their approval for the Zee Sony merger. That has led to almost an end to the speculations over the deal and crossed the major hurdles. This would make the merged entity the largest media house with a market share above 26%. Outlook is positive. Ad revenues should increase from here considering pick up in the economy, good monsoons driving rural sales thus in turn elevating the FMCG and Auto verticals, which are their main advertisers. Market share growth happening in Hindi and Marathi GECs should help the cause ultimately. Sony merger gives an altogether different fillip to the business. Subscription business should get a good lift from the final implementation of the NTO2.0 in Q3 post which the linear business along with OTT Zee5 should togetherly provide the required push. We remain BUY on the stock. Shall revisit our numbers post Q2 results.
– Ashwin Patil, Senior Research Analyst at LKP Securities
Nestle to announce second interim dividend on Wednesday
Nestle’s board is all set to meet on Wednesday for its quarterly results as well as interim dividend announcement. For the second interim dividend that will be considered and announced by the company on Wednesday, the ex-date is October 31. This means that if you are considering buying the stock of Nestle for its dividend then you need to buy the same before its ex-date. On the ex-date, the stock adjusts in price in respect of the corporate announcement made. The board earlier intimated the record date for the said dividend as November 1, 2022.
Raamdeo’s investment mantra for young investors are
#DhamakaDiwaliWithETNOW | @Raamdeo's investment mantra for young investors are Use common sense Do your researc… https://t.co/wei4sZpeUi
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Morgan Stanley initiated coverage on Gland Pharma with an overweight rating and a target price of Rs 2,748. The company has a strong balance sheet, and it has already gone through a sharp 45% year-to-date (YTD) stock price correction, said Morgan Stanley. Shares are trading at a respective 30.1x and 23.6x as per FY23 and FY24 estimates. IP visibility for its complex pipeline is improving, said the note.
Price as on 18 Oct, 2022 11:50 AM, Click on company names for their live prices.
Ambuja Cements allotted 477.5 million warrants to Harmonia Trade and Investment on preferential issue basis, priced at Rs 418.87
Price as on 18 Oct, 2022 11:45 AM, Click on company names for their live prices.
Market live updates: PSU Bank stocks rally; PNB top performer
Price as on 18 Oct, 2022 11:35 AM, Click on company names for their live prices.
Alembic Pharma gets 4 procedural observations from USFDA
- USFDA conducted an inspection at Alembic Pharmaceuticals’ Oncology Injectable Formulation Facility located at Panelav from 4th October, 2022 to 14th October, 2022.
- The USFDA issued a Form 483 with 4 procedural observations.
- None of the observations are related to data integrity and management believes that they are addressable, it said.
- The company is preparing the response to the observations, which will be submitted to the USFDA within stipulated period, it said.
- Stock trades 1% lower on BSE
- Source: BSE filing
Market live updates: Pharma stocks fragile in a firm market; check out the top losers from the pack
Price as on 18 Oct, 2022 11:01 AM, Click on company names for their live prices.
The recovery and push beyond 17430, that we anticipated yesterday, is probably gathering steam for a run up to18100, with initial stop at 17580. Given the sharp decline that ensued a few days back while attempting a breach of 17430, the downside marker needs to be placed near 17240/180.
– Anand James – Chief Market Strategist at Geojit Financial Services
Oil and Natural Gas Corp plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east as it seeks to retain a 20% share in the asset, three sources familiar with the matter told Reuters.
Price as on 18 Oct, 2022 10:34 AM, Click on company names for their live prices.
Market live updates: Mahindra & Mahindra Financial Services & India Post Payments Bank join hands to boost credit access to customers
Price as on 18 Oct, 2022 10:22 AM, Click on company names for their live prices.
Bond yields dip as RBI comments on inflation aid sentiment
The benchmark Indian 10-year government bond yield was at 7.3664% as of 0440 GMT. The yield ended at 7.4075% on Monday, posting its biggest single session fall since Oct. 4. “Globally, there is not much (of a) change in fundamentals. Hence, local bullish bias after dovish minutes and inflation comments from the central bank should persist at least in the initial part,” a trader said.
Suzlon Energy gets order of 48.3 MW from Adani Green Energy
Price as on 18 Oct, 2022 09:55 AM, Click on company names for their live prices.
Market live updates: Check out the most active stocks on NSE in opening deals
Price as on 18 Oct, 2022 09:40 AM, Click on company names for their live prices.
The whipsaw movement in the mother market of the US is a reflection of the fast changing perception about the US inflation expectations, terminal Fed rate and direction of the US economy. A section of market participants now feel more optimistic about a soft landing of the US economy and have now turned bullish about the market. It remains to be seen whether this view gathers wider acceptance and sustains.In India bulls are gaining strength aided by India’s growth outperformance, good early Q2 results, declining FII selling, steadily rising DII buying and the optimism ushered in by the festive season. Bank Nifty is resilient with the potential to take banking stocks as well as Nifty higher.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Market live updates: Sea of green… all indices trade higher
BLOCK DEAL: 2.1% equity of Samvardhana Motherson International changes hands; stock down 6%
Price as on 18 Oct, 2022 09:20 AM, Click on company names for their live prices.
BLOCK DEAL IN ZEE SHARES
#MarketAlert | 5.25 cr Zee Ent shares change hands in a block trade #ZeeEnt #MarketsWithETNOW https://t.co/a8gjHxOPqN
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Opening Bell: Sensex jumps 500 points, Nifty above 17,450; Zee surges 5%, Aster DM 4%
Pre-open session: Sensex gains over 300 points; Nifty above 17,400
Asia stocks rise as relief rally builds after UK U-turn
Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the U.S. dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal.
Oil prices steady on U.S. dollar weakness; recession fears weigh
Oil prices steadied in early Asian trade on Tuesday as a weaker U.S. dollar lent support, although rising shale production and fears that stubbornly high inflation could lead the world economy into a recession limited gains.
Quarterly earnings today
ICICI Lombard,Schaeffler India, Gujarat Fluorochemicals, Polycab India, Tata Communications, KPIT Technologies, Mahindra CIE,…
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