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Page 19 - Markets
Sensex zooms 910 pts as financials defy Adani rout; Nifty ends above 17,850
Closing Bell: On the Nifty, Adani Ports closed in green after two days with a firm gain of 6 per cent., while Adani Enterprises erased over 50 per cent of its day's losses to close 2 per cent down
 "Sensex zooms 910 pts as financials defy Adani rout; Nifty ends above 17,850")
Bank of Baroda reports highest-ever quarterly profit of Rs 3,853 cr in Q3
On the bourses, shares of the bank jumped over 5 per cent to an intra-day high of Rs 162.3 per share
 "Bank of Baroda reports highest-ever quarterly profit of Rs 3,853 cr in Q3")
TCS hits over 7-mth high; rises 4% in three days despite market volatility
Analysts at ICICI Securities expect TCS' margins to improve from FY23 onwards due to utilization improvement and moderation of sub-contractor costs
 "TCS hits over 7-mth high; rises 4% in three days despite market volatility")
IndusInd Bank gains 5% as Hinduja looks to raise stake to 26% in lender
Hinduja group is planning to raise its stake in the private sector lender from 15 per cent to 26 per cent with an investment of Rs 10,000 crore
 "IndusInd Bank gains 5% as Hinduja looks to raise stake to 26% in lender")
Stocks to Watch: Adani Group, SBI, Paytm, BoB, HDFC AMC, Auto, SBI Life
Stocks to watch today: The National Stock Exchange (NSE) on Thursday shifted Adani Enterprises, Adani Ports, and Ambuja Cements to a category of stocks that require up to 100 per cent trading margins
 "Stocks to Watch: Adani Group, SBI, Paytm, BoB, HDFC AMC, Auto, SBI Life")
Hindenburg report: NSE puts three Adani firms under ASM framework
The move is to shield investors against risky and speculative trades
 "Hindenburg report: NSE puts three Adani firms under ASM framework")
Budget 2023: 20% TCS may take sheen off investments in foreign stocks
The money can be adjusted later, but the blocking of 20 per cent capital till tax filing is likely to dissuade direct investment in foreign equities
 "Budget 2023: 20% TCS may take sheen off investments in foreign stocks")
Markets end on mixed note; Sensex climbs over 224 pts, Nifty dips 6 pts
The other major winners included IndusInd Bank, Hindustan Unilever, Infosys, Wipro, HCL Technologies, Tata Consultancy Services and ICICI Bank
 "Markets end on mixed note; Sensex climbs over 224 pts, Nifty dips 6 pts")
Dubious distinction: AEL first to cancel share sale after full subscription
As per data provided by Prime Database, these 29 companies were targeting to raise a cumulative of Rs 11,000 crore
 "Dubious distinction: AEL first to cancel share sale after full subscription")
Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023
Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs
 "Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023")
Sensex ends 224 pts higher in uneven trade, Nifty flat; Adani Ent skids 27%
CLOSING BELL: Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices surged up to 0.5 per cent
 "Sensex ends 224 pts higher in uneven trade, Nifty flat; Adani Ent skids 27%")
HDFC Life hits lowest level since May 2020; slumps 17% in two days
The government has lifted tax exemption on life insurance policies issued with aggregate premium of over Rs 5 lakh in a year (other than Ulips) with effect from April 1, 2023
 "HDFC Life hits lowest level since May 2020; slumps 17% in two days")
HDFC Q3 profit jumps 13% YoY to Rs 3,691 crore, AUM grows 13% to Rs 7 trn
HDFC's Q3 net profit beat Street estimates which had pegged PAT around Rs 3,730 crore
 "HDFC Q3 profit jumps 13% YoY to Rs 3,691 crore, AUM grows 13% to Rs 7 trn")
Jubilant Food dips 13% in 2 days, hits lowest level since Dec'20 on weak Q3
The stock hit 52-week low today after the historic high inflation in cheese and flour prices significantly impacted gross margins, which came in at 75.5%, lower by 213 bps year-on-year
 "Jubilant Food dips 13% in 2 days, hits lowest level since Dec'20 on weak Q3")
Rs 8.7 trn mcap loss for Adani cos in 6 days; Adani Ent tanks 35% since Tue
Given the unprecedented situation and the current market volatility, Adani Enterprises has cancelled its Rs 20,000 crore follow-on-offer (FPO)
 "Rs 8.7 trn mcap loss for Adani cos in 6 days; Adani Ent tanks 35% since Tue")
Gautam Adani in crisis as bonds hits distressed levels, stock sale axed
Banks either want more collateral for loans, or are scrutinizing the value of the company's debt to lend against
 "Gautam Adani in crisis as bonds hits distressed levels, stock sale axed")
Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance
Stocks to watch today: The Board of Adani Enterprises (AEL) has announced that it will not go-ahead with the fully subscribed Follow-on Public Offer (FPO)
 "Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance")
Eye on growth: Pain points & what's on offer in Union Budget 2023
New projects are up on a year-on-year basis
 "Eye on growth: Pain points & what's on offer in Union Budget 2023")
Life insurance stocks tumble as govt proposes to tax high premium policies
Govt aims to curb misuse of Section 10(10D) of I-T Act with this proposal; new rule applicable on policies issued on or after April 1, 2023
Budget 2023 a balancing act with focus on prosperity and inclusiveness
Budget 2023: Raising of tax slabs along with reduction in peak surcharge shall result in around Rs 35,000 crore being saved by tax payers and hopefully being spent to boost consumption
 "Budget 2023 a balancing act with focus on prosperity and inclusiveness")