C: Sensex and Nifty 50 fall to near day’s, Nifty FMCG index down 1.5%

Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and NSE Nifty 50 opened flat on Tuesday amid mixed cues from global markets. Financial, oil and gas shares traded with gains, while FMCG shares extended losses. Investors awaited more of financial results from India Inc for domestic cues, with Adani Ports and Bharti Airtel due to post their earnings later in the day.

Live Updates

Nifty 50 Live Update | Nifty 50 index is down 0.5%

— The headline index is trading at 17,670.2.

— Tata Steel, Hindalco, ITC, Hero MotoCorp and Sun Pharma are the top index losers, down 1.8 to 5.3 percent. 

— Adani Enterprises, Adani Ports, Dr Reddy’s, Kotak Mahindra Bank and TCS, up 0.5 to 17 percent, are the top gainers. 

— 34 constituents of the Nifty 50 basket are trading with losses.

Kalyan Jewellers share price | Stock down nearly 1% after reporting December quarter earnings
— Net profit up 10.6 percent at  Rs 148.7 crore vs Rs 134.5 crore year-on-year
— Revenue up 13.1 percent at Rs 3,884.1 crore vs Rs 3,435.4 crore year-on-year
— EBITDA up 9.3 percent at Rs 326.9 crore vs Rs 299.2 crore year-on-year
— Margin at 8.4 percent vs 8.7 percent year-on-year

Share Market Update | Ganesh Benzoplast reports December quarter earnings 

— Profit up 38.1 percent at Rs 14.5 crore vs Rs 10.5 crore year-on-year

— Revenue down 2.8 percent at Rs 99 crore vs Rs 101.9 crore year-on-year

— EBITDA up 33 percent at Rs 24.2 crore vs Rs 81.2 crore year-on-year

— Margin at 14.5 percent vs 10.5 percent year-on-year

Stock Market Update | Tata Steel is top Nifty 50 loser after large tax expense leads to over Rs 2,500 crore loss

Tata Steel shares slipped over four percent to become the top Nifty50 loser on Tuesday, a day after the steelmaker reported a quarterly loss of over Rs 2,502 crore loss due to higher expenses

Share Market Update | Buy Navin Fluorine, sell NMDC: Mitessh Thakkar

Here are two recomendations by Mitessh Thakkar of earningwaves.com:
— Buy Navin Fluorine for a target of Rs 4,260 with a stop loss at Rs 4,140.  
— Sell NMDC for a target of Rs 110 with a stop loss at Rs 119.

‘Not aware of any information which has not been disclosed to the stock exchanges’: Hind Zinc

CNBC-TV18 had earlier reported that the government is set to oppose Vedanta subsidiary Hind Zinc buyout of Vedanta’s global zinc assets. Vedanta’s decision against minority shareholder rights, violates corporate governance norms.

Share Market Update | Hindalco among top losers on Nifty 50 after weak Novelis results

— Shares of Hindalco are trading lower on Tuesday after the company’s subsidiary Novelis reported weak results for the December quarter.

— Novelis reported a three percent drop in overall sales for the quarter to $4.2 billion from $4.3 billion last year. 

— Adjusted EBITDA for the quarter declined 33 percent from last year to $341 million. 

Stock Market Update | Bharti Airtel to report December quarter numbers today

Telecom service provider Bharti Airtel is likely to report a steady quarter for the October-December period with low-single-digit growth in revenue and profits.

Share Market Update | HDFC Bank hikes lending rates by 5-10 bps across loan tenures

Stock Market Update | Elixir Equities’ Dipan Mehta on Adani Group stocks

“This kind of controversies are there surrounding the companies. I think from an investor’s perspective, it’s best to just wait and watch and let the dust settle down, and then perhaps take a call on investing in these companies. But I think they’re great trading opportunities because of the volatility, which is there, and that attracts a lot of traders. So one can certainly trade in them, depending upon the volumes and the charts and price movement. But from an investment perspective, I want to put a hold on all Adani Group companies,” Dipan Mehta, Director, Elixir Equities.

Share Market News | Delhivery and eSamudaay partner to enable rural businesses to take flight

— Partnered with software solution provider eSamudaay to enable rural businesses to scale by serving customers across India.
— Both are network partners of ONDC. 

Share Market Update | Buy Siemens, Tata Chemicals, Bajaj Finance: Chandan Taparia 

Here are some recommendations by Chandan Taparia, Derivative & Technical Analyst, Motilal Oswal Financial Services:
— Buy Siemens for an upside target towards Rs 3,200 level with a stop loss at Rs 3,030.
— Buy Tata Chemicals for a target towards Rs 1,050 with a stop loss at Rs 985.
— Buy Bajaj Finance with a support of Rs 6,000 for a target towards Rs 6,350-6,400 level.

About admin

Check Also

Budget 2023: I think 50% taxpayers will opt for the new income tax regime, says Nirmala Sitharaman

The finance minister is of the opinion that with more money in taxpayers hands under …

Leave a Reply

Your email address will not be published. Required fields are marked *