Himadri Chemicals price broke out of a major swing high
HDFC Bank has moved out of a long consolidation range
Positive futures data and breakouts in prices, RSI, and volume indicate upwards movement in Chambal Fertilizers
Stocks gave up some of a strong rally from last week that was driven by bets the Federal Reserve may not need to be as aggressive with interest rate hikes as some had feared.
Indoco Remedies has broken out from the consolidation with jump in volumes. It has also broken out from downward sloping trendline on the weekly charts.
Stocks that were in action included Rain Industries which jumped 8.6 percent to Rs 191.35, the highest closing level since April 11, continuing uptrend for fourth consecutive session. The stock has formed bullish candle on the daily charts with significantly higher volumes
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Based on the open interest future percentage, there were 59 stocks including Gujarat Gas, Punjab National Bank, Nippon Life India, Hindalco Industries, and Cholamandalam Investment, in which short-covering was seen.
With rates rising instead of falling and China’s economy maturing, the “great beta trade” of the past two decades won’t work as well, said CEO John Graham. “We believe it’s going to be an investors’ market going forward," Graham added.
Zomato says its food delivery segment has broken even in Q1. The company's net loss in the quarter has almost halved on a year-on-year basis. Zomato's revenue from operations grew 67.5 percent to Rs 1,414 crore. The company also commented on the impact of inflation and cleared the air on corporate governance concerns around the Blinkit acquisition. Watch this video for a complete break-down of what's making news from the Zomato earnings
The S&P 500 fell 0.2% as of 10:25 a.m. Eastern. The Dow Jones Industrial Average fell 63 points, or 0.2%, to 32,779 and the Nasdaq rose 0.1%.
Franklin Templeton Mutual Fund will be launching a balanced advantage fund – its first mutual fund scheme after a gap of two-and-a-half years. The fund house went through a difficult period after it shut its six debt schemes in April 2020 due to a lack of liquidity in debt markets. Watch the full video to get all the details of this new scheme.
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The 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to finish at 58,115.50 on August 1. The benchmark ended above the 58,000-level for the first time since April 13 this year.
SBI Life’s June quarter metrics show that it pays to be the largest in the industry segment. SBI Life has made its investors happy by exceeding their expectations on business growth and trumping competition on profitability metrics.
Revenue from operations stood at Rs 19,831.27 crore, up 39.25 percent from Rs 14,240.76 crore logged in the same quarter last year.
If the Nifty50 sustains above 17,150, the low of August 1, in the coming session, then 17,400 can be the next target, followed by 17,500, with 17,000-16,950 as a crucial support area, Mazhar Mohammad of Chartviewindia says
In today’s edition of Moneycontrol Pro Panorama: TVS rerating overhang, HDFC Q1 blip, India’s balancing act at SCO, Nestle India’s growth balm, Yes Bank has its task cut out and more
On the BSE , auto, power, and oil & gas indices gained 2-3 percent, while bank, capital goods and metal indices were up 1 percent each
The index has been making higher highs and higher lows since mid-May despite volatility in benchmark indices, rising more than 35 percent since March lows.
All the sectoral indices ended on a positive note with Auto, Power, and Oil & Gas indices gaining 2-3 percent. The BSE midcap and smallcap indices added over 1 percent each.
In the most recent earnings, even though the domestic business performed well, overall performance was poor due to losses at JLR.
UPL Q1 Result: UPL has revised FY23 guidance, expecting revenue growth of 12-15 percent against 10 percent earlier and EBITDA growth of 15-18 percent, up from 12-15 percent
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Yes Bank has finally found strategic investors who would be willing to invest in the bank. The new funding round will bring $1.1 billion into the lender and CJ believes it could push the bank closer to its rivals. Santo, meanwhile, prefers the certainty of Mahindra & Mahindra over the volatility of Yes Bank. Watch the duo share their thoughts on M&M, Yes Bank, JK Paper and Cipla.