Lowe's Financial News

By Yoruk Bahceli

SVB situation, rates actually went down in the spring. And there’s been an unwitting easing of financial conditions, which is feeding into a stronger second half for the U.S. economy.

A rapid tourism recovery in Japan, bolstered by the return of Chinese visitors, and the highest level of inflation in four decades are fueling a boom in hotel investment in the island nation.

Shares of Godrej Properties(up 1.91 per cent), Prestige Estates Projects(up 1.15 per cent), SOBHA(up 0.76 per cent), Brigade Enterprises(up 0.55 per cent) and Oberoi Realty(up 0.39 per cent) ended the day as top gainers in the pack. On the other hand, Indiabulls Real Estate(down 1.42 per cent), Mahindra Lifespace Developers(down 0.45 per cent) and Macrotech Developers(down 0.23 per cent) finished as the top losers of the day. The Nifty Realty index closed 0.43 per cent up at 538.9. Benchmark NSE Nifty50 index ended up 47.55 points at 19444.0, while the BSE Sensex stood up 213.27 points at 65433.3. Among the 50 stocks in the Nifty index, 30 ended in the green, while 19 closed in the red. Shares of Suzlon Energy, YES Bank, Alok Industries, Reliance Power and Bank of Maharashtra were among the most traded shares on the NSE. Shares of VELS Film Internatio, Atul Auto, Sakar Healthcare, NGL Fine Chem and Centum Elec hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Penta Gold, Rachana Infrastructu, Hotel Rugby and Drone Destination hit their fresh 52-week lows.

Domestic benchmark index NSE Nifty ended 47.55 points up at 19444.0, while the BSE Sensex closed 213.27 points up at 65433.3. On the other hand, VELS Film Internatio, Atul Auto, Sakar Healthcare, NGL Fine Chem and Centum Elec stocks hit their fresh 52-week highs today. In the Nifty 50 index, Hindalco, Axis Bank, ICICI Bank, SBI and L&T were among the top gainers on the NSE in the today's trade. Meanwhile, Adani Ent., Adani Ports SEZ, Sun Pharma, Bharti Airtel and Tata Motors were among the top losers of the day.

Tata Communications, a global enabler of the digital ecosystem, announced the opening of its cloud-based, worldwide 5G Roaming Laboratory (Lab). This will allow Mobile Network Operators (MNOs) to test 5G standalone network use cases prior to rolling out the service to their customers, the company said in an exchange filing. In order to enable mobile network operators reinvent mobility experiences that benefit their consumers and enterprise customers, Tata Communications is utilising the potential of 5G in this way.

Madanagopal Ramu, Head of Equities, Sundaram Alternate Assets, says: “One theme is the India growth story and financial inclusiveness and one can look at NBFCs, which are lending for small ticket loans, operating on a regional basis where the banks find it very difficult to come through. There are many small ticket financiers in the NBFC space or even small even small financial banks you can pay attention to. We find good opportunities here where people can make money. The second sector is manufacturing. Third is the consumer discretionary. Consumer discretionaries got impacted last year due to the noise around inflation. But we did not really see too much impact in consumption. ”I would like to understand which side of the debate do you stand for? One side is saying midcaps and smallcaps are on steroids and it’s time to be careful. Others are saying that midcaps and small caps actually represent the India story and the numbers are supporting the up move. The valuations may have got a bit healthy but flows are also coming here, so it is not alarming yet.That is a very interesting question that you are asking.

Hindustan Aeronautics (HAL) share price rose 3.5% to hit a new 52-week high on Wednesday's session as HAL manufactured Vikram lander, part of Chandrayaan-3 spacecraft is expected to land on the moon today. Hindustan Aeronautics' stock has risen for the past three sessions in a row, gaining 6%. HAL share price today opened at ₹3,914.95 apiece on BSE, and touched intraday high at ₹4,034 and low at ₹3,899.

Suez Canal within hours, the head of the canal authority said on Wednesday, following the collision of two vessels. «Slight contact» was made after liquefied natural gas (LNG) carrier BW Lesmes made a sudden stop due to a technical failure that coincided with a strong current that drove oil tanker Burri towards it, authority chairman Osama Rabie said. The canal authority responded by sending tugboats to move both ships, he said. Singapore-flagged BW Lesmes was successfully towed outside of the waterway, Rabie said, while Cayman Islands-flagged Burri could be seen approaching the southern end of the canal as of 12:00 pm local time, according to ship tracker MarineTraffic. The canal's north convoy will resume once Burri is towed, Rabie said. BW LNG AS, operators of BW Lesmes, reported the vessel ran aground transiting southbound through the Suez Canal at approximately 21:35 (1835 GMT) on Tuesday, BW Group said in a statement. The low speed collision did not affect the vessel's operational capabilities and the vessel «remains structurally sound,» it added. BW Lesmes was successfully re-floated at 03:30 a.m. local time on Wednesday and would undergo further inspections at Suez anchorage. The Suez Canal chairman said there did not appear to be any significant damage or pollution but that Burri had a steering failure that would require repair. TMS Tankers, which manages Burri, did not respond to requests for comment. The Suez Canal is one of the world's busiest waterways and the shortest shipping route between Europe and Asia. About 12% of the world's trade moves through the canal.

Varun Beverages Ltd. traded 1.32 per cent down in Wednesday's trade at 02:12PM (IST).

Read all the LIVE updates on Chandrayaan-3 here - Soft-landing: It entails controlled descent, ensuring the safe landing of the spacecraft. On reaching an altitude of about 150-100 metres, the lander using its sensors and cameras, would scan the surface to check whether there are any obstacles and then start descending to make a soft landing.

Cholamandalam Investment & Finance Company Ltd. traded 0.44 per cent up in Wednesday's trade at 11:17AM (IST).

₹58648 per 10 grams around 10:40 am. As per a Reuters report, the dollar index was below the two-month highs, while a rally that took US Treasury yields to nearly 16-year highs took a pause, giving some respite to gold. Gold prices settled higher in the international and domestic markets in the previous session after downbeat US existing home sales data and perceived buying at lower levels after the yellow metal hit five-month lows.

Benchmark NSE Nifty index rose 31.4 points to 19427.85 amid buying in frontline bluechip stocks. However, stocks such as Jio Financial Servic, Penta Gold, Allcargo Terminals, Rachana Infrastructu and Yasons Chemex Care, touched their fresh 52-week low. Overall, 28 shares traded in the green in Nifty50 index, while 21 traded in the red. In the Nifty 50 index, Hindalco, Divis Labs, Axis Bank, L&T and Tata Steel were among top gainers, while Sun Pharma, Adani Ent., ITC, Adani Ports SEZ and Tata Motors traded in the red. The BSE Sensex was trading 98.78 points up at 65318.81 at 11:26AM(IST). Traders were seen piling up positions in Telecommunications, Trading, Infrastructure, Paper and Aquaculture sectors, while selling was visible in Banks, Petrochemicals, Building Materials, Irrigation & Allied Services and Agriculture/Horticulture/Livestock sectors.

Trent Ltd. gained 1.13 per cent to Rs 2051.95 at 11:22AM (IST) in Wednesday's trade.

On the BSE, Relicab Cable Manufa(down 15.94 per cent), Adeshwar Meditex(down 10.78 per cent), Captain Technocast(down 10.00 per cent), Jet Infraventure(down 10.00 per cent) and Panacea Biotec(down 9.90 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 22 stocks traded in the green, while 27 stocks traded in the red. The Nifty index was trading 12.6 points down at 19383.85. On the BSE, Shelter Pharma, Jio Financial Servic, Triveni Glass, Decorous Investme and A F Enterprises hit their fresh 52-week lows, while SilverpointInfra, NCL Research, Neil Industries, Meenakshi Enterprise and AccelerateBS India touched their fresh 52-week highs.

PI Industries Ltd. gained 0.58 per cent to Rs 3700.0 at 10:51AM (IST) in Wednesday's trade.

Rakuten, the Japanese technology conglomerate has been scaling up its presence in India with bets across fintech, content streaming, analytics, healthcare and telecom, CEO Sunil Gopinath says, in a freewheeling chat with ET’s Subhrojit Mallick.How has your business in India scaled up over time? We started off primarily building a technology business from here that will support or cater to Rakuten’s businesses globally. We started with 100 employees and have scaled to 2000 now. First, we started with 24/7 support, then we did ecommerce, then we did ID management, which is similar to Aadhaar.

Bharat Forge(up 2.77 per cent), Sona BLW Precision Forgings(up 1.2 per cent), Eicher Motors(up 0.35 per cent), TVS Motor Company(up 0.31 per cent) and Bosch(up 0.26 per cent) were among the top gainers. Tata Motors(down 0.92 per cent), TIINDIA(down 0.67 per cent), Mahindra & Mahindra(down 0.61 per cent), Hero MotoCorp(down 0.37 per cent) and Ashok Leyland(down 0.32 per cent) were the top losers on the index. The Nifty Auto index was down 0.13 per cent at 15487.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 12.4 points at 19384.05, while the BSE Sensex was down 49.31 points at 65170.72. Among the 50 stocks in the Nifty index, 21 were trading in the green, while 28 were in the red. Shares of Suzlon Energy, YES Bank, Reliance Power, Easy Trip Planners and Alok Industries were among the most traded shares on the NSE. Shares of AB Cotspin India, Country Club Hospit, Birla Cable, Baheti Recycling Ind and ABB Power hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Allcargo Terminals, Rachana Infrastructu, Yasons Chemex Care and AKG Exim Ltd.

Godrej Properties(up 1.25 per cent), Prestige Estates Projects(up 1.01 per cent), Phoenix Mills(up 0.89 per cent), Macrotech Developers(up 0.83 per cent) and SOBHA(up 0.72 per cent) were among the top gainers. Indiabulls Real Estate(down 0.47 per cent), DLF(down 0.14 per cent), Brigade Enterprises(down 0.11 per cent) and Mahindra Lifespace Developers(down 0.05 per cent) were the top losers on the index. The Nifty Realty index was up 0.47 per cent at 539.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 9.5 points at 19386.95, while the BSE Sensex was down 41.08 points at 65178.95. Among the 50 stocks in the Nifty index, 22 were trading in the green, while 28 were in the red. Shares of Suzlon Energy, YES Bank, Reliance Power, Easy Trip Planners and Alok Industries were among the most traded shares on the NSE. Shares of AB Cotspin India, Baheti Recycling Ind, Birla Cable, DB Realty and VELS Film Internatio hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Yasons Chemex Care, Allcargo Terminals, Rachana Infrastructu and AKG Exim Ltd.

Havells India Ltd. traded 1.99 per cent up at Rs 1344.75 at 10:41AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 42.38 points to 65177.65.