IT index under pressure in today’s session as it sheds more than 0.5% and all stocks are trading lower
ADIA Nears Buying $500 Million Stake in India’s Lenskart
Gladiator stock: Near its 52-week high, HAL may gain up to 14%
Kotak Mahindra Bank has ‘small exposure’ to Adani Group
Inflation pressure and future rate hike fears to keep investors cautious (iStock)
Share Market LIVE Updates: Indian stock markets are trading in red as Sensex is down 400 pts and Nifty is trading below 17,700. Tata Steel, Cipla and NTPC jump, while Adani stocks lag. Auto, FMCG, Consumer Durable and IT indices shed; Metal remains in green.
Fed Chair on Wednesday said that the Fed hasn’t made a decision yet on the size of its future hikes. That gave some solace to the market, which shuddered a day earlier on fears the Fed was set to increase the size of its rate hikes. Meanwhile, more shares belonging to some Adani Group companies have been encumbered, a trustee said Wednesday.
Gladiator stock: Near its 52-week high, HAL may gain up to 14%
Currently, Hindustan Aeronautics (HAL) shares are near their 52-week high, after the aerospace and defence company sealed a deal worth ₹6,800 crore with the defence ministry. The stock has the potential to rally further, analysts suggest an estimate of a 14% upside from the current levels.
The defence sector has regained upward momentum after forming a higher base over the past three-four months. Within the space, domestic brokerage house ICICI Direct says HAL has been the resilient candidate which has logged a resolute breakout from three months consolidation (2800-2300), indicating the resumption of primary up trend.
IT index under pressure in today’s session as it sheds more than 0.5% and all stocks are trading lower
ADIA Nears Buying $500 Million Stake in India’s Lenskart
Abu Dhabi Investment Authority is nearing a deal to acquire a stake in Indian eyewear startup Lenskart Solutions Pvt. for about $500 million, according to people familiar with the matter.
The Middle Eastern sovereign wealth fund is finalizing an agreement to buy a mix of existing Lenskart shares and new equity, the people said, asking not to be identified as the information is not public. The deal, which would value Lenskart at more than $4 billion, may be announced as early as this week, the people said.
Kotak Mahindra Bank has ‘small exposure’ to Adani Group
Private sector lender Kotak Mahindra Bank has a “small exposure” to the embattled Adani Group which has been made in line with its credit philosophy, a senior official has said.
Paritosh Kashyap, president and head for wholesale banking at Kotak Mahindra Bank, said the issues surrounding Adani Group are more of a “capital market and valuations issue and not a credit issue.” “We have a small exposure to the group. We do business with every corporate in the country, and our exposures are in line with our credit philosophy and size of our balance sheet,” Kashyap told PTI in an interaction.
Click to open an Account : https://ekyc.gwcindia.in/client/
For all your investment needs feel free to reach us.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999
