Booking Financial News

During the course of these 18 months, the markets have had to digest the volatility on accounts of the Ukraine-Russia war, over $40 billion of FII selling, the fastest interest rates hike by global central banks and concerns about India’s valuation amongst developed and emerging economies. After digesting all of the above, the markets have scaled new lifetime highs and are poised for some more in the coming few months.

Jaguar-Land Rover sales during the quarter ended June 2023. During the day, the shares of Tata Motors rallied as much as 3.96% to its record high of ₹624.65 apiece on the BSE.

Tata Motors on Friday said its arm JLR's (Jaguar Land Rover) wholesales (excluding China JV) rose 30% year-on-year (YoY) to 93,253 units for the first quarter ended June 2023. Meanwhile, retail sales increased by 29% YoY to 1.01 lakh units. The company said JLR's order book remains strong at 185,000 units, reflecting strong client demand.

Rahul Gandhi is fighting the battle for truth and people's interests against an «arrogant regime» which is adopting all tricks in the book to suppress the questions he is raising, Congress leader Priyanka Gandhi Vadra said on Friday after the Gujarat High Court dismissed her brother's plea seeking a stay on his conviction in a criminal defamation case. While dismissing the plea, Justice Hemant Prachchhak noted that Gandhi was already facing 10 criminal cases across India, adding that the order of the lower court was «just, proper and legal» in handing over a two year jail term to Gandhi for his «Modi surname» remark.

Namboothiri, the master illustrator known for his unique line sketches, died in the early hours of Friday, family sources said. He was 98. Popularly known as Artist Namboothiri among his admirers, he had been one of the most prolific literary illustrators in the country for decades. Besides line sketches, he was also known for his amusing paintings, sculptures and art direction in movies. Namboothiri's end came at a private hospital in nearby Kottakkal at 12.20 am while undergoing treatment for age-related ailments, his family said. During his several-decades-long career, Namboothiri illustrated many popular characters for literary publications in the state. The distinctive line sketches, which he drew for the characters of doyens of Malayalam literature like Jnanpith laureates M T Vasudevan Nair, Thakazhi Sivasankara Pillai and S K Pottakkad and legends like Vaikom Muhammad Basheer, were as popular as their literary works. On the illustration of the characters of his well-known work 'Randamoozham' which was based on the epic Mahabharata, an impressed MT even said that the readers saw in the book not his Bhima but that of Namboothiri's.

₹500 crore initial public offering (IPO) of the Varanasi-based Utkarsh Small Finance Bank will open for subscription on Wednesday, July 12 and end on Friday, July 14. On Tuesday, July 11, the anchor investors' auction will begin. On Wednesday, July 19, the allotment will take place and on Thursday, July 20, the shares will be credited to the allottees' demat accounts.

PI Industries Ltd. fell 2.42 per cent to Rs 3760.4 in Friday's session as of 02:04PM (IST) even as the equity benchmark Sensex traded 457.54 points lower at 65328.1. Earlier in the day, the stock witnessed a gap down start to the session.

leadership of private enterprises". The revised articles should set out staffing for the party branch, pledge funding for it and embed the party in the “corporate governance structure", says an account by Yingshang’s party authorities. Language used by the party to describe how it should operate in SOEs is now often applied to private firms.

Nifty has seen a classic fight between bulls and bears, with attempts to break the all-time high level seen in December 2022. While Sensex has touched an all time high, Nifty experienced consolidation at higher levels. Interestingly, the Bank Nifty index has shown more weakness compared to the Nifty.

B L Kashyap & Sons, one of the leading civil, engineering and construction company, expects a 24% growth in revenue to Rs1300 crore in FY25, led by commercial and government projects. The firm has secured new orders worth Rs 700 crore in the last six months, including the redevelopment of the railway in railway project at Bijwasan from the Railway land development authority, Embassy business hub phase II and Nzuri business park in Pune. “There has been robust growth in order intake during the year and a substantial jump in order book position at the end of the financial year, clearly giving strong visibility of earnings in the coming years.

United Spirits Ltd. fell 2.74 per cent to Rs 917.85 in Friday's session as of 01:18PM (IST) even as the equity benchmark Sensex traded 433.97 points lower at 65351.67. Earlier in the day, the stock witnessed a gap down start to the session.

Vinay Sharma, Equity Fund Manager, Nippon India MF, says that “when the economy reaches a certain size, the sophistication of products increases and a similar experience should happen in India and people would buy different sorts of financial products, payment mechanisms and wealth management products. Purely from a growth perspective, we would be more excited on the NBFC side if one is taking a long-term view.”You have been very bullish on the banking sector. Is this as good as it gets now? From a stock market standpoint, is consensus pricing getting built in?If we were to put it, we would say that we are somewhere in the middle of a good cycle.

Colgate-Palmolive (India) Ltd. fell 0.22 per cent to Rs 1776.4 in Friday's trade as of 01:08PM (IST) even as the benchmark Nifty ruled at 19363.6, down 133.7 points. The scrip had closed at Rs 1780.35 in the previous session.

Reuters.  Efforts by Indian airlines to keep pace with the world's fastest-growing aviation market, serving the largest population, have sent industry records tumbling even though manufacturers are struggling to meet output goals due to supply chain snags. A Reuters report confirmed that Airbus gross orders before cancellations stood at 1,080 aircraft in the first half and said that had delivered 316 jets during the period.  Following the cancellation in the first half of 2022, Airbus won 442 orders or a net total of 259 and delivered an unadjusted total of 297 jets.

Multibagger IPO: The initial public offer (IPO) of ideaForge Technology Limited listed on BSE and NSE at a whopping 93 per cent premium against the ideaForge IPO price band of ₹638 to ₹672. ideaForge share price opened on BSE at ₹1305.10 apiece levels and went on to hit an intraday high of ₹1344.00 per share levels within few minutes of ideaForge IPO listing.

«I think if we look at valuations of individual companies, etc, in the last three months we have seen many of these company prices have moved up by say 20%, 30%, etc, so I think the valuation comfort is no longer there,» says Krishna Kumar Karwa, MD, Emkay Global.It has been a heck of a bull market. Do you think this summer rally of 2023 has still some more steam left?Yes, because macro were playing out in terms of inflation, interest rates, etc, all those positives were playing out and we also saw massive inflows from overseas post the China trade did not play out the way it should have.

₹130 per share, 85.7 percent higher than the issue price of ₹70 on the NSE SME exchange. However, the stock failed to sustain the gains and hit 5% lower circuit post listing. The company set the price band in the range of ₹65 and ₹70 per share.

IPO listing: Shares of IdeaForge Technology Ltd listed on the bourses at a premium on Friday. On the NSE, the stock was listed at ₹1,300 per share, 93.5 percent higher than the issue price, and on the BSE, the stock was listed at ₹1,305.10 per share. The drone manufacturer set the price band for the IdeaForge IPO at ₹638 to ₹672 per equity share.

Drone Destination IPO: The initial public offering (IPO) has opened for subscription today and it will remain open for bidding till 13th July 2023. The book build issue is proposed for listing on NSE SME exchange and the company has announced Drone Destination IPO price band at ₹62 to ₹65 per equity share. India's leading drone service company aims to raise ₹44.20 crore from its public offer.

Stocks that were in focus include names like Hindustan Zinc, which gained 8.22%, Marico, which was down 2% and JSW Steel, whose shares rose 0.3% on Thursday.Here's what Amol Athawale, Vice President-Technical Research at Kotak Securities, recommends investors should do with these stocks when the market resumes trading today: JSW Steel — Buy After a sharp uptrend rally currently, the stock is witnessing rangebound activity at higher levels. However, the short-term trend is still on the positive side. Technically, on daily charts, the stock is holding a higher bottom series formation and comfortably trading above 20-day SMA (Simple Moving Average) which is broadly positive.

" The quarter one results should be the first quarter post-Covid where we do not have any base effect to really look at and measure the growth rates and the trends thereof from various companies," says Mahantesh Sabarad, Independent Market Expert.Soon we will be counting down to earnings as well. What is the expectation, especially looking at what we have heard from Q1 updates from banks? The quarter one results should be the first quarter post-Covid where we do not have any base effect to really look at and measure the growth rates and the trends thereof from various companies.