Battle for 5G spectrum auction heats up
All of the Nifty sectoral indices closed in the green with Pharma (+2.3%) and Media (+2.1%) seeing maximum gains. |
NIFTY50 |
16,641 ▲ 157 (+0.9%) |
SENSEX |
55,268 ▲ 547 (+0.9%) |
What's up ▲ |
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What's down ▼ |
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What’s trending? |
Piramal’s NBFC plan on track
The diversified conglomerate said it has received a nod from the Reserve Bank of India to launch a non-banking finance company (NBFC). It added that the NBFC won’t be accepting deposits. This comes after the company acquired the bankrupt Dewan Housing Finance Corporation in September last year. |
Inflation bites Colgate-Palmolive’s profits
The consumer products company’s net profit dropped 7% year-on-year to ₹216 crore (excluding the impact of exceptional items) in the June quarter. The management said that the current quarter results were impacted by an overall rural slowdown and inflationary pressures. However, the company’s net sales grew 2.5% YoY to ₹1,186 crore. |
Cash registers ringin’ at Shoppers Stop
Shares of Shoppers Stop surged on Wednesday, as the company reported healthy Q1 numbers. The retail firm posted a net profit of ₹23 crore in Q1 FY23, against a loss of ₹137 crore in the year-ago period. Meanwhile, revenues rose 383% year-on-year to ₹1,190 crore in Q1 on the back of easing Covid-related restrictions. |
IMF lowers India’s growth forecast
The International Monetary Fund (IMF) has cut India’s growth outlook for FY23 to 7.4%. In April, the IMF had pegged India’s growth at 8.2%, down from its earlier projection of 9%. This comes even as the Indian central bank has been hiking interest rates to combat inflation. |
Microsoft, Google fail to impress
Tech giants Microsoft and Alphabet (Google) failed to impress investors after both missed street estimates. Microsoft reported a profit of $16.7 billion, up a meagre 2%. Production shutdowns in China and a slow PC market in June led to a negative impact. Meanwhile, Google’s parent Alphabet’s net income fell 13% YoY to $16 billion. Google blamed the slow growth in online ads for the poor show. The growth in online advertising had been hit by inflation, geo-political tensions and macroeconomic factors. |
In focus |
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Game of (5G) Thrones
The 5G spectrum auctions have begun and bids have been pouring in. Although bids have already come in for a bulk of the critical airwaves, the tussle for spectrum continues. Dial in for more.
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Monday bullish pattern seeing
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ReplyDeleteDow Jones +300 but sgx -6 what rubbish...
ReplyDelete14/9/22 Indian nifty GAP DOWN
ReplyDeleteAll pe holders enjoy the day
ReplyDeleteExpiry day market kaisa rahega
ReplyDeleteNifty will close in RED on expiry day
ReplyDeleteNifty will close today Green
ReplyDeleteNifty down again and again
ReplyDeleteAaj bahot niche Jana hai
ReplyDeleteTomorrow market is rocket🚀🚀
ReplyDeleteMonday gap down
ReplyDeletegap down then recover
ReplyDeleteToday market will move upside
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ReplyDeleteTrend is friend, nifty inching higher
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ReplyDeleteTomorrow will start pre budget rally
ReplyDeleteAnd all metal sector will be the biggest beneficiary
thats vertical rise on charts, kolhi like century
ReplyDelete18336 soon before budget
ReplyDelete