Lowe's Financial News

Page Industries Ltd. traded 2.33 per cent lower in Wednesday's session at 01:34PM (IST).

Read here: India's retail inflation eases to 6.83% in August from 15-month high peak in July; remains above RBI's tolerance band Among states, the inflation rate in Delhi was the lowest of all, while that in Rajasthan was the highest, the data showed. The inflation rate in Delhi for the month of August 2023 was 3.09%, followed by Assam at 4.01% and West Bengal at 4.79%. Inflation rate in the Union Territories of Jammu & Kashmir and Ladakh combined was at 5.45%, while in Chhattisgarh it was 5.52%, data by Press Information Bureau showed.

Rohit Srivastava, Founder & Market Strategist, Indiacharts.com, says For the midcap index, the reading was at around 89 on the day before’s close. Yesterday's closing, it has come back to 63 and right now live, it is trading at 60. For the small cap index, the similar thing would be the day before, it would have been at 87.98. After yesterday's close, it is down to 59 and right now also it is at around 59. As mid and smallcap indices are coming very close to the 20-day moving average, we will expect them to get support and bounce back over the next couple of days.”Yesterday's fall and today's follow-up activity, how do you read it?This is part of a minor correction in what is a bigger trend in favour of mid and smallcaps. We have to view it from both the short term time horizon and the long term time horizon. In the short term, indicators like the RSI is hitting overbought but what that usually means is we get a one day knee-jerk reaction, maximum two days and then that is it, because then it takes only two days for the RSI to come off from something like 85-87 which is an extremely overbought state to something like a 65-66 or even 60 which we have already seen yesterday and are further seeing today. Both the mid and smallcap indices now are coming very close to the 20-day moving average and that is more significant because that is where we will expect them to get support and bounce back over the next couple of days.

Varun Beverages Ltd. dropped 0.51 per cent to Rs 914.25 at 01:39PM (IST) in Wednesday's trade.

Indian Hotels Company Ltd. traded 2.09 per cent down at Rs 411.75 at 12:58PM (IST) on Wednesday, even as BSE benchmark Sensex gained 253.79 points to 67474.92. The stock had closed at Rs 420.55 in the previous session.

IndusInd bank reached a settlement and have withdrawn insolvency litigations. "Coffee Day Global and IndusInd bank told the Chennai bench of National Company Law Appellate Tribunal (NCLAT) on September 13 that they have reached a settlement and that the two parties have withdrawn insolvency litigations. NCLAT took their submissions on record and set aside the order admitting Coffee Day Global to insolvency," Moneycontrol reported.

Bajaj Holdings & Investment Ltd. traded at Rs 7046.0 on BSE at 12:48PM (IST) on Wednesday, down 1.3 per cent.

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PI Industries Ltd. traded 0.06 per cent up in Wednesday's trade at 12:02PM (IST).

MphasiS Ltd. traded at Rs 2449.2 on BSE at 12:18PM (IST) on Wednesday, down 0.75 per cent from previous close. The scrip quoted a 52-week low price of Rs 1660.65 and a high of Rs 2550.95. Earlier, the stock saw a gap down opening in the morning. A total of 3,610 lakh shares changed hands on the counter till 12:18PM (IST). The stock of MphasiS Ltd.

Pidilite Industries Ltd. slipped 0.47 per cent to Rs 2476.6 in Wednesday's trade as of 12:08PM (IST). The stock hit a high price of Rs 2489.75 and low of Rs 2455.0 during the session. The return on equity (ROE) for the stock stood at 17.76 per cent.

Pankaj Murarka, CIO, Renaissance Investment Managers, says “The Nifty index trading at about 20 times current year earnings is reasonable in the context of the strong earnings growth that we are witnessing. From here on, much of the gains on the indexes are done and markets will be more stock specific in that sense. And some correction at this level is pretty healthy for the medium term health of the market.”Going by the exceedingly volatile moves that we have witnessed in the broader markets, from the March lows first we have seen a meteoric rise and then yesterday, things were clearly shaken up. Is that an instance of the direction that the broader markets are headed in?We have had a phenomenal rally in the last six months and so a correction was probably much warranted and it is a healthy correction for the market because there are pockets of markets where we have seen stock prices have clearly run ahead of fundamentals and there has been a fair degree of exuberance or froth in midcap smallcap space. So, correction is much warranted. Aggregate markets are still reasonably priced.

Voltas Ltd. gained 0.73 per cent to Rs 882.0 at 11:47AM (IST) in Wednesday's trade.

rupee witnessed a range-bound trading against the US dollar in early trade on Wednesday, as the support from positive macroeconomic data was negated by elevated crude oil prices and a firm American currency. Forex traders said domestic retail inflation data and industrial production figures were better than market expectations and supported investors' sentiments. However, investors are awaiting cues from the CPI data from the US to know the path the US FED will tread in its fight for lower inflation. At the interbank foreign exchange, the rupee was trading in a narrow range.

Jubilant Foodworks Ltd. slipped 1.78 per cent to Rs 518.4 in Wednesday's trade.

«There are actually no any big negative signs or any big negative triggers which can spiral into a problem as of now but I am saying that the world is in a very disorderly state,» says Vinit Sambre, DSP Mutual Fund.Enough and more has been discussed and debated that where and why midcap stocks are up. But after the sharp selloff yesterday, do you think we are nearing the end of the party for mid and the small cap stocks for an extended period of time? Is the party over so the Cinderella's of the world be worried now?I think it is extremely tough to really make out of these daily moves and the way current sentiments are around the midcap, small cap stocks, the kind of flows which we are seeing in these categories, I would say that these small corrections will be really bought into and people may not really give up till the time there are, let us say, bigger triggers. I mean, there are actually no any big negative signs or any big negative triggers which can spiral into a problem as of now but I am saying that the world is in a very disorderly state.

Nipah virus which has killed two and infected two others in Kozhikode. “Surveillance, contact tracing, categorizing them into low and high risk, setting up isolation facilities for them, demarcating containment zones, and procuring medicines from ICMR for those infected, were some of the numerous steps taken by the Health department to prevent spread of the brain-damaging virus," George told the House.

Ambuja Cements Ltd. dropped 0.8 per cent to Rs 441.5 at 11:11AM (IST) in Wednesday's trade.

ICICI Lombard General Insurance Company Ltd. slipped 0.08 per cent to Rs 1349.2 in Wednesday's trade as of 11:06AM (IST). The stock hit a high price of Rs 1362.35 and low of Rs 1338.9 during the session. The return on equity (ROE) for the stock stood at 16.55 per cent.

Vladimir Putin said on Wednesday that Russia would help North Korea build satellites and, when asked if he and Kim Jong Un would talk about weapons supplies, replied that the two leaders would discuss all issues. When asked by reporters if Russia would help Kim build satellites, Putin replied: «That's why we came here. The leader of the DPRK shows great interest in rocket engineering, they are also trying to develop space.» Putin showed Kim around Russia's most modern space rocket launch site, the Vostochny Cosmodrome, which is nestled among the forests of eastern Russia not far from the Chinese border. Kim arrived at Vostochny by train, after crossing into Russia early on Tuesday. «I am glad to see you,» Putin said as he shook Kim's hand for around 40 seconds at Vostochny. «This is our new cosmodrome.»

₹2,470 crore in Uttar Pradesh. GMR Power and Urban Infra share price opened at intraday's low of ₹34.01 apiece on BSE. At 10:16 IST, GMR Power and Urban Infra share was up 8.06% at ₹35.95 per share.