The technical analyst from HDFC Securities expects near-term support for the Nifty at 16,300, below which it can slide to 16,000-mark.
CLOSING BELL: The NSE Nifty50, held the crucial 16,400-mark to shut shop at 16,416, down 153 points
The management is optimistic to deliver a stronger performance in FY23
Muted business growth in two years coupled with higher claims led by covid-19 resulted in the recent underperformance.
Analysts at ICICI Securities believe the next two quarters will remain challenging for the cement industry as it will battle both weak demand (owing to monsoon) & heightened costs.
The rise in the Singapore gross refining margin (GRM) to a record high of $25.2 a barrel bodes well for Indian refiners as they process raw crude into refined products.
Yashish Dahiya intends to offload partial stake via bulks deals on the exchanges. He currently holds 24.52 million shares in the company.
Stocks to Watch today: Tata Motors signed the biggest-ever EV fleet order in India with the largest fully-electric ride-hailing service firm - BluSmart Mobility for delivering 10,000 Xpres-T EVs.
According to the technical analyst from Anand Rathi, Maruti is witnessing a formation of double bottom near Rs 7,600 mark, while NOCIL has seen a breakout above Rs 265 level.
Since listing, LIC has lost Rs 56,000 crore of market-cap from Rs 5.54 trillion to Rs 4.98 trillion
As of 1:44 PM, the trading volumes on the counter more-than-doubled as 6.05 million equity shares representing 5.4 per cent of the company's total equity changed hands on the NSE and BSE.
In the past one month, the stock of specialty chemicals fell 25 per cent, as compared to 1.3 per cent rise in the S&P BSE Sensex.
Thyrocare, Dr Lal Path Labs and Metropolis are trading almost 50 per cent below their respective all-time highs, the reversal may see breakout if the key respective levels are sustained
In current times of weak demand, high fuel costs and entry of a new player (Adani group), any significant capacity announcement may be viewed negatively by the market, according to analysts
Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for is crude sales in July
Stocks to Watch Today: The Aditya Birla Group has planned a massive Rs 77,000 crore capex; Meanwhile, this week the focus will be on rate sensitive sectors ahead of the RBI policy meet on Wednesday.
The inflationary pressures and a sharp rise in input costs of raw material, energy and solvents, the management expects industry growth to be tapered and margins to be contract in the current fiscal.
The Company said it has kept all concerned authorities informed and the plant operations are expected to resume in a day or two upon clearance of damaged warehouse.
Long term prospects and dominant standing of RIL in each of its product & service portfolio provides comfort for long term value creation, analysts said.
Shares of cement companies like UltraTech Cement, Dalmia Bharat, JK Cement, The Ramco Cements and Shree Cement were down in the range of 2 per cent to 6 per cent.