Thank you, readers! That's all from CNBCTV18.com's live market coverage on August 5, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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Investors should look at banking space, credit growth beginning to improve: Anand Tandon
Market expert Anand Tandon suggests investors to look at the banking sector. "Credit growth is beginning to improve and balance sheets are much clearer. So it is better to look for normal banks that can participate in loan growth and show an increase in earnings," he tells CNBC-TV18.
"There are many low hanging fruits in the banking sector. SBI has done exceedingly well and Bank of Baroda is catching up. I would prefer to have companies that have diversified portfolios rather than just be focused on one particular sector,” Tandon adds.
Market At Close | Sensex and Nifty50 hold on to the green though off day's highs
Here are some highlights:
--SBI sees profit booking ahead of earnings on Saturday
--Titan rises after operational beat
--Bharti Airtel rises one percent ahead of results on Monday
--Shree Cement and UltraTech rise following in-line earnings by Dalmia Bharat
--Mnappuram jumps six percent after better-than-expected earnings
--NBCC, IndiGo, Tata Communications, NMDC, Muthoot Finance top midcap gainers
--Balkrishna Industries falls seven percent as earnings miss estimates
--GAIL falls five percent as brokerage downgrades stock to 'sell' after earnings
--Balrampur Chini extends losses to second day after earnings miss estimates
--Market breadth favours the bulls — advance-decline ratio at 5:4
Rolex Rings profit rises 64% to Rs 50 crore in April-June
Its revenue increased 26.2 percent on a year-on-year basis to Rs 286 crore, according to a regulatory filing.
The company's margin, however, slipped to 22.3 percent from 23.6 percent in the year-ago period.
The Rolex Rings stock slipped into the red after the earnings announcement. Rolex Rings shares fell as much as three percent to Rs 1,736.1 apiece on BSE, having climbed to as high as Rs 1,855 earlier in the day.
RBI may follow up with 35-50 bps hike in next policy review: Ajay Srivastava
Ajay Srivastava of Dimensions Corp Finance Services tells CNBC-TV18 that the latest RBI policy is great. "The RBI Governor is now really getting on to the task of getting inflation under control. He has not mentioned it but I think in the back of his mind, he knows that the next level after commodity inflation will come what's happening the West... wage push inflation. A follow up hike will be the ideal thing to do," he says.
RBI may not be very aggressive in subsequent policy meetings: Motilal Oswal
Motilal Oswal, MD and CEO at Motilal Oswal Financial Services, says that despite Friday's hike in the repo rate, the RBI expects inflation to remain above its comfort zone.
"We believe that commodity prices have cooled off including crude oil, and inflation may be peaking out," he adds.