Market LIVE: Equity benchmark indices opened in the green on Thursday with Sensex up by 196.28 points and Nifty by 45.50 points. At 9:38 AM, the BSE Sensex was up by 196.28 points or 0.37 per cent at 53,945.54.
BSE Limited, also known as the Bombay Stock Exchange, is the oldest stock exchange in Asia, and also the 10th oldest in the world. The 50-scrip NSE Nifty was trading at 34,633.70, at 9:38 AM, up by 45.50 points or 0.08 per cent.
NIFTY 50 is a benchmark Indian stock market index, representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. It is one of the two main stock indices used in India. (
Sensex zoomed 503 points or 0.94% to settle at 54,252 while NSE Nifty 50 index closed 144 points or 0.99% higher at 16,170 — both near intraday highs. Bank Nifty outperformed and jumped 2.2%.
IPCA Lab’s (IPCA) Q4 performance was impacted by weak exports. However, API, UK and branded generics issues should normalize from H2FY23, in our view. Domestic business (45% of total sales) remained strong and it will continue to outperform IPM. Strong API capabilities and diversified model have benefited IPCA in the current environment. Our FY23E and FY24E EBIDTA stands reduced by 3% yet PAT cut is higher by 7-10%, as management indicated 25% tax rate vs 22-23% earlier. We recommend ‘Buy’ rating with revised target price of ₹1,085 based on 23x FY24E earnings.
Research firm Credit Suisse has maintained outperform call on InterGlobe Aviation and cut target price to Rs 2,200 from Rs 2,500 per share.
The strong yields & sustained traffic bode well, while lower supplementary rentals suggest lower maintenance costs.
Credit Suisse revises earnings by -39/-9 percent to Rs 18/101 from Rs 30/111 as build crude at USD 110 and at Rs 78 per dollar, reported CNBC-TV18.
Aether Industries IPO has entered its final day of subscription today after having been subscribed 0.49 times so far. The Rs 808 crore IPO of the specialty chemical manufacturer is a mix of fresh issue of equity shares and an Offer For Sale (OFS) by existing shareholders of the company. So far none of the investor categories have been fully subscribed. Aether Industries’ shares have also seen a tepid performance in the grey market, with stock quoting a weak premium in the unlisted space of just Rs 10 apiece, down from Rs 20 per share on Monday when the IPO opened.
A pullback to 16100 is expected today, followed by consolidation, which will be crucial for the rest of the day’s directional moves. A direct rise above 16160 will put the16500-700 move back in play. However, the inability to push much beyond 16100, would hint at further distribution, hastening slippages towards 15840 initially, and 15400 in the coming day
~ Anand James, Chief Market Strategist at Geojit Financial Services
JM Financial's net profit rose from Rs 590.14 crore in March 2021 to Rs 773.16 crore in March 2022, an increase of 31.01%. The company has also declared a dividend of Rs 1.15 per share.
Shares of JM Financial are down 4.49% on Thursday at Rs 58.45 per share.