Among the Sensex firms, IndusInd Bank jumped 5.08 per cent. The other winners were Tata Motors, Bajaj Finance, Bajaj Finserv, NTPC, HCL Technologies, Mahindra and Mahindra, Axis Bank, Maruti and Kotak Mahindra Bank. Value buying in index heavyweights Reliance, HDFC Bank and ICICI Bank added to the momentum. Sun Pharma, Larsen and Toubro and Nestle were the laggards.
Posts tagged Rediff
IT mid-caps stick to steady growth (08-05-2023)
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
DGCA issues show cause notice to Go First (08-05-2023)
Aviation regulator DGCA on Monday directed crisis-hit Go First to immediately stop bookings and sale of tickets directly or indirectly till further orders, according to a source. Besides, the watchdog has issued a show cause notice to the budget carrier under the relevant provisions of the Aircraft Rules, 1937, for its failure to continue the operation of the service in a safe, efficient and reliable manner, the source said. Earlier, the airline had suspended the sale of tickets till May 15 and has cancelled flights till May 12.
Small- and mid-cap shares raced ahead of large caps (08-05-2023)
With markets getting back their mojo after four months, small- and mid-cap shares raced ahead of large caps in April. The Nifty Smallcap 100 index surged 7.5 per cent – its biggest monthly advance in 10 months – and outperformed the benchmark Nifty 50 index by 350 basis points. The Nifty Midcap 100 index soared 5.9 per cent, most since August.
Axis Bank: Most analysts hold ‘buy’ recommendations (08-05-2023)
Axis Bank’s results for the fourth quarter of the 2022-23 financial year (Q4FY23) were skewed due to large one-off charges related to its acquisition of Citi’s retail business. Axis reported a loss of Rs 5,730 crore on account of exceptional items of Rs 12,350 crore (net of tax) towards Citi’s acquisition, policy harmonisation etc. Excluding this one-off, the adjusted net profit or profit after tax (PAT) would be Rs 6,630 crore, up 61 per cent year-on-year (YoY).
Jet Airways Revival Hope Diminishes (08-05-2023)
Jet’s air operator certificate will lapse on May 19.
IFSC relaxation may boost trade in foreign stocks (08-05-2023)
The Reserve Bank of India’s (RBI’s) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
‘Markets have growth potential in medium to long term’ (08-05-2023)
‘Indian equity valuations, although not very expensive, are not cheap either.’
India’s imports from OPEC at all-time low (07-05-2023)
Oil producers cartel OPEC’s share in India’s oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. This share slid to 46 per cent in April 2023, according to energy cargo tracker Vortexa.
Is the tide turning for mid, small-cap segments? (06-05-2023)
The mid-and small-cap segments at the bourses have outperformed their larger peers thus far in fiscal 2023-24 (FY24). While the S and P BSE Small-cap index has surged around 5.7 per cent in FY24, the S and P BSE Midcap index has gained 4 per cent during this period. In comparison, the S and P BSE Sensex has moved up around 2.2 per cent.