Thank you, readers! That's all from CNBCTV18.com's live market coverage on November 10, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News
And on Facebook, LinkedIn, Instagram and Telegram
Download our mobile app for Android and iOS platforms
In defence sector, HAL has good growth: Vinay Jaising
“When we looked at the defence sector first we thought it could be a secular growth part of our business but that is when we realised that the Indian government is trying to make more and more of manufacturing coming to the country," says Vinay Jaising, MD-Portfolio Mgmt Svcs JM Financial Services. "So that would reduce our import bill. In the defence sector we like HAL as it has good growth, secondly Tejas is doing very well, third, governments mandate to manufacturing increase in the country would lead to higher ownership for the Indian manufacturers. So as the Indian pie of defence grows, HAL also grows.”
Sensex and Nifty50 end lower amid weak global cues ahead of US inflation data
-- Tata Motors is top Nifty loser after a weak September quarter, stock down five percent
-- Axis Bank slides three percent as government announces entire 1.5 percent SUUTI stake sale
-- M&M sees some profit booking ahead of earnings, falls three percent
-- Hero Moto, HDFC Bank and Kotak Bank lend support to Nifty
-- Aurobindo Pharma falls 12 percent as ED arrests company’s whole-time director
-- Piramal Enterprises, Deepak Nitrite and Ramco Cements slip 8-10 percent after disappointing quarterly numbers
-- PI Industries sees profit booking at record high levels, falls four percent
-- GNFC, Oberoi, Tata Chem, Chambal Fert, TVS Motor amongst top midcap losers
-- Godrej Prop rises six percent as company maintains FY24 booking value guidance
-- Lupin closes four percent higher but off highs after a turnaround September quarter
-- Samvardhana Motherson rises more than three percent on better-than-expected September quarter
-- Market breadth favours declines, advance-decline ratio at 1:3
PSU banks are coming out of 10 year sort of a bear market: Rishi Kohli
"PSU banks are coming out of 10 year sort of a bear market and have done well over the last year largely. So I think there's a lot of scope, it's sort of a secular move, a lot of the clean-up has happened from a fundamental perspective and from a technical and cycle perspective," says Rishi Kohli, CIO-Hedge Fund Strategies, InCred Alternatives. "And when that happens, then typically, the sectors will be in flavor for the next three to five years. So that's the very long term view. From a short term perspective, yes, in the very near term over the last month or two, some of the stocks have rallied hugely. So I think they're due for a halt now. But as they halt or as they retrace some of those gains, I think it would be a good time to enter again for that next three to five years story that I'm talking about," Kohli says.
Samvardhana Motherson reports September quarter earnings
-- Cons net profit up 13.4 percent at Rs 246 crore vs Rs 217 crore (YoY)
-- Cons revenue up 30 percent at Rs 18,261 crore vs Rs 14,077 crore (YoY)
-- Cons EBITDA up 48.7 percent at Rs 1,403 crore vs Rs 943 crore (YoY)
-- Margin at 7.7 percent vs 6.7 percent (YoY)
Zydus Wellness reports September quarter earnings
-- Net profit down 60.5 percent at Rs 8.5 crore vs Rs 21.5 crore (YoY)
-- Revenue up 11.9 percent at Rs 429.5 crore vs Rs 383.6 crore (YoY)
-- EBITDA down 46.8 percent at Rs 16.3 crore vs Rs 30.5 crore (YoY)
-- EBITDA margin at 3.8 percent vs eight percent (YoY)
Currency | Price | Change | %Change |
---|