The company said the growth in the tiles market will continue to be driven by growth in real estate and housing sector, rise in disposable income, growth in renovation & remodelling activities.
As of 10:09 am, the S&P BSE Private Bank and Nifty Private Bank index were down 1 per cent each, as compared to 0.6 per cent decline on the benchmarks, S&P BSE Sensex and Nifty50 index.
Stocks to watch today: Akash M Ambani will take over as non-executive director and chairman of the board of directors of Reliance Jio; Tata Motors will hike prices of CVs by 1.5 to 2.5 per cent.
CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index
In the past five days, the stock price of Chennai-based auto-maker soared over 10 per cent, as against 1.6 per cent rise in the S&P BSE Sensex.
MRPL, Chennai Petroleum and Hindustan Oil Exploration soared around 8 per cent each. Oil explorers - Oil India and ONGC also logged smart gains in an otherwise weak market.
The company intends to buy back 5.43 million shares, aggregating up to 1.88 per cent of its paid-up share capital via the open market at Rs 4,600 per share.
Stocks to watch today: Bajaj Auto approved buyback of shares worth up to Rs 2,500 crore; Moody's upgraded Tata Steel's outlook to 'positive' from 'stable'
CLOSING BELL: Sectorally, the broad-based rally saw the Nifty Auto index ending with 2-per cent gain, and the Nifty Metal index with 1.6-per cent rally
While the food prices continue to remain high, the company believes that a better compensation for farmers would create a positive sentiment and lift demand for tractors and agri-implements
The technology-heavy Nasdaq Composite surged 3.3 per cent on Friday, as investors reassessed the expected path of Federal Reserve interest-rate hikes.
Hero MotoCorp, Bajaj Auto and Eicher Motors need to cross their significant hurdles with aggressive volume for further gains to emerge.
ITC, Varun Beverages, TVS Motor Company, Coromandel International and Hindustan Aeronautics can rally up to 25 per cent, technical charts suggest
Company says is seeing high interest for new launched Scorpio-N; In the last three months, the stock has outperformed the market, by gaining 38 per cent as against a 9 per cent decline on the Sensex.
The company said the price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices
According to the technical analyst from Anand Rathi, ITC can rally to Rs 285.
The technical analyst from HDFC Securities recommends buying Indian Hotel June future for a target of Rs 232.
The company's EBITDA margins contracted from 14.2 per cent in Q4FY21 and 13.7 per cent in Q3FY22 to 11.1 per cent in Q4FY22.
Among other real-estate stocks, Indiabulls Real Estate remains in the bear trap, while Sobha and Godrej Properties were seen struggling to make a come back.
The company informed BSE, that its board and the founder and ex-MD Ms. Padmaja Reddy have resolved their differences and agreed to part ways on amicable terms.