Market Beats

The broader market represented by BSE500 ended flat on Friday, and yet it ended up as the worst hit index, falling 1,083.33 points or 4.81 per cent for the week to 21,458.89. A total of 447 index stocks fell and only 53 could end higher.

“In the past, Indian markets have always underperformed EMs after big FII selling since they influenced the prices. However, this time India’s outperformance remains at historic high. This is also resulting in incremental foreign liquidity moving into other underperforming EMs (largely China).”

During the last week, the Indian rupee shed 53 paise to end at 77.44 per dollar on May 13 against its May 6 closing of 76.91.

During the last week, the Indian rupee shed 53 paise to end at 77.44 per dollar on May 13 against its May 6 closing of 76.91.

Loans to individuals rose 15% year on year led by a 11.49% growth in home loans. Retail loans crossed the ₹10 lakh crore mark for the bank during the quarter. Retail loans now make up the largest chunk of the ₹28.18-lakh-crore loan book at 23%.

Most retail investors, who have subscribed to the issue, received allotment as the category was subscribed two times. In the retail category, share allotment was done based on the draw of lots. This means 50% of the applicants got allotment of at least 15 shares.

The Nifty ended down 25.85 points, or 0.2%, at 15,782.15. The Sensex ended down 136.69 points, or 0.3%, at 52,793.62. Both indices had gained as much as 1.7% earlier in the day. Nifty Midcap 100 and Smallcap 100 indices ended 1% higher.

Some of the stocks that have been included in the smallcap index include Aptus Value HSG Finance, Bharat Dynamics, Easy Trip Planners, Go Fashions India, Greaves Cotton, Greenpanel Industries and Gujarat Alkalies, among others.

Motilal Oswal, Axis Capital, Nomura, Kotak Institutional Equities, YES Securities and ICICI Securities maintained a 'buy' rating on the stock; while Morgan Stanley and JP Morgan have maintained 'overweight' stance on the stock.

The Delhivery offer comprises a fresh issue of shares for Rs 4,000 crore and an offer for sale by some existing shareholders aggregating Rs 1,235 crore. The company cut the issue size to Rs 5,235 crore from the Rs 7,460 crore it had planned earlier due to challenging market conditions.

Total revenue from operations last quarter stood at an all-time high at Rs. 3,193 crores, which is an increase of 8.6% compared to Rs. 2,940 crores in the year-ago period. EBITDA (Earnings before interest, tax, depreciation and amortisation) went up 19.3% to Rs. 757 crores.

Both benchmark indices ended the week with losses. The Nifty50 lost about 3.83 per cent, while the 30-share Sensex declined 3.72 per cent. The broader market also saw selling.

Total revenue from operations during the quarter under review fell 15.8% at Rs 1,861.4 crore, on back of decline in sales of tractors and construction equipment.

Net profit was Rs 80 crore in the year-ago period. The bank set aside Rs 466 crore as the provision (other than taxes) and contingencies, which were 53% lower than Rs 982 crore in the comparative quarter last year.

Patel Engineering announced that it has bagged a Rs 2,461 crore contract for the works of “construction of diversion tunnel, concrete gravity dam, intake, pressure shafts, underground Power House & Tailrace Tunnel (Lot 1) for Kwar HE Projects in District Kishtwar, Jammu & Kashmir.

Growth stocks such as Apple Inc, Google-owner Alphabet Inc, Amazon.com and Nvidia Corp gained between 2.2% and 6.5% after falling for most of the week.

Total revenue from operations stood at Rs 3,193.32 crore, up 8.60 per cent against Rs 2,940.33 crore the firm reported in the year-ago quarter.

“The fear really is not of margin pressures. The fear really is that a lot of companies which have provisioned for or reduced provisions in the last two years could see a lot of their debt going bad if interest rates go up so aggressively as they are likely to. I do not see why anybody in their right mind would look to add banking and financial services stocks at this point.”

Avenue Supermarts, which runs D-Mart stores popular in Western India, will announce its quarterly numbers on Saturday.

Hindalco, JSW Steel, SBI, NTPC and ICICI Bank were among the top losers on NSE in today's trade.

The total income during January-March period of 2021-22, was down at Rs 20,695.90 crore, as against Rs 21,501.94 crore in the same period of 2020-21, Bank of Baroda (BoB) said in a regulatory filing.

The 30-share BSE Sensex closed down 136.69 points at 52793.62

The 30-share BSE Sensex closed down 136.69 points at 52793.62

Total income during the quarter came down to Rs 1,032.75 crore from Rs 1,343.26 crore in the same period a year ago.

The company said owing to the recognition of the MAT credit entitlement of the earlier years, tax liability was lower and net profit higher by Rs 230.33 crore.

Nifty50 gave up around 300 points from the intraday high of 16,083, which hints at a lack of conviction on the part of bulls about the sustainability of upmove at higher levels, said Mazhar Mohammad of Chartviewindia.in.

The 30-share BSE Sensex closed down 136.69 points at 52793.62

Avro India, Silver Touch Tech, Penta Gold, Impex Ferro Tech and Lexus Granito(India), hit their fresh 52-week highs during the day.

“There has been an aging of some of the loans. In the last quarter also, loan loss provision was higher and this time around I guess the same thing must have happened because the slippages have been managed quite well by the bank and the NPA figures have also come down.”

Cryptocurrency prices reached a peak late last year and have since slid as fears over the economy grew.

The 30-share BSE Sensex closed down 136.69 points at 52793.62

The NSE Nifty index closed 25.85 points down at 15782.15

At current premarket levels, Twitter is trading at a ~35% discount to Musk's $54.20 per share offer price. Also, it is trading below where the stock was prior to Musk revealing an over 9% stake in early April.

The NSE Nifty index closed 25.85 points down at 15782.15

The 30-share BSE Sensex closed down 136.69 points at 52793.62

The company said its revenue was at Rs 12,116 crore, up 24.5 per cent against Rs 9,730 crore in the year ago quarter. Ebitda of the company advanced 7.2 per cent to Rs 20,88 crore.

The BSE benchmark Sensex fell nearly 1,000 points from the day's high, ending 136.69 points or 0.26 per cent lower at 52,793.62. Its broader peer, the Nifty 50, settled 40 points lower, below the 15,800 mark.

LUNA has tanked to merely a few decimal cents from its peak of $118, wiping out 100 per cent wealth of the investors. Overall, the token has wiped out $40 billion from their pockets.

The brokerage in its coverage initiation report late last month said in a highly fragmented market, we believe RateGain Tech is well placed to increase its wallet share versus peers, as well as, in-house technology teams of enterprise customers, given its relationships with marquee clients, cross-selling opportunities, and innovative products.

“We are looking at how to co-create innovation through ecosystem partners. We are looking at automation. We are looking at solution accelerators. Of course, we have been doing these things over a period of time but we continue to focus on them and enhance them so that the products and services remain differentiated and we end up creating more and more value for our clients.”

"Fear and loathing suggest stocks prone to imminent bear market rally but we do not think ultimate lows have been reached", the team led by Chief Investment Strategist Michael Hartnett argued.

The trades, executed on the CME by crypto asset trading firm Cumberland DRW this week, were the Japanese investment bank's first digital asset trades, said Nomura's head of markets, Asia ex-Japan, Rig Karkhanis in a statement.

"We are aware that some customers are having issues trading and accessing accounts on Coinbase and Coinbase Pro. Your funds are safe, and we are actively working on the issue. We'll provide an update here soon," said Coinbase.

Bitcoin, the largest cryptocurrency by total market value, managed to bounce in the Asia session and traded at $30,300 at 0623 GMT, up 5%. It has staged something of a recovery from a 16-month low of around $25,400 reached on Thursday.

Total income of the bank in Q4FY22 rose by 43 per cent to Rs 3,504.2 crore, as against Rs 2,457.4 crore in the same period of FY21, Bandhan Bank said in a regulatory filing.

“The EPC business will continue to grow in the 11-13% range. From Rs 110,000 crore, it will go to Rs 1,90,000-2,00,000 crore by 2026. The manufacturing and hi-tech precision manufacturing business will continue to grow between 12% and 15%. crore. The service businesses are LTI, Mindtree and LTTS, which are in the region of $4.2 billion and will double to nearly $8-9 billion. ”