Benchmarks indices traded lower in early deals on Wednesday, taking cues from the global markets. Sensex slipped 306 points or 0.49% to 62,663 and Nifty lost 88 points to 18,546
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Improving economic fundamentals along with sustained FPI buying will help the market to slowly reach new record highs. The GDP data expected today is likely to show FY 24 growth rate to be around 7%. If it comes slightly above 7%, that can further aid the market momentum. FY 24 average CPI inflation is expected at 5.2% and if the monsoon is normal and food inflation under control, the MPC will have the elbow room to cut rates by end 2023. These are emerging positives for the market."
Shares of SBI are trading ex-dividend today with a dividend of Rs 11.30 per share for FY23. SBI stock fell 2.33% to Rs 579.05 in early trade. Market cap of the bank fell to Rs 5.19 lakh crore
Shares of Suzlon Energy rose nearly 7% in early deals after the renewable energy solutions provider firm reported stellar earnings for the quarter ended March 2023. Share price of Suzlon Energy gained 6.84% to Rs 11.40 against the previous close of Rs 10.67 on BSE
Shares of Patanjali Foods fell over a percent in early deals after the Baba Ramdev-led firm reported a 13% rise in standalone net profit at Rs 264 crore for the quarter ended March 2023 against a net profit of Rs 234 crore in the year-ago period. Patanjali Foods shares lost 1.14% to Rs 1,010 compared to the previous close of Rs 1,021.70 on BSE. Shares of Patanjali Foods opened lower at Rs 1005 on BSE
Shares of the Adani Group firm are trading lower today. The stock slipped 3.68% to Rs 774.30 against the previous close of Rs 803.85 on BSE. Market cap of the firm fell to Rs 8,7170 crore
Shares of basmati rice exporter KRBL slipped 10.12% to Rs 362.9 against the previous close of Rs 403.75 on BSE. It opened lower at Rs 394.85 on BSE. The firm reported a 180% rise in Q4 net profit to Rs 205.45 crore against Rs 73.36 crore profit in the year-ago quarter
Adani Ports shares were trading flat today after the firm reported a 5% rise in net profit to Rs 1,159 crore for the quarter ending March 31, 2023. It reported net profit of Rs 1,103 crore in the year-ago period. The stock fell 0.33% to Rs 731.85 on BSE today
Shares of Brightcom Group were stuck in the upper circuit of 5% today. Shares of Brightcom Group gained 5% to Rs 18.70 against the previous close of Rs 17.81 on BSE. It opened higher at Rs 18.70
Shares of DB Realty slipped 6.97% to Rs 82.46 today after the firm's Q4 loss widened to Rs 619.44 crore from Rs 34.49 crore in the year-ago quarter. They opened lower at Rs 86.67 on BSE. Market cap of the firm fell to Rs 2902 crore
Shares of Reliance Industries (RIL) slipped 1.39% to Rs 2,484 amid correction in the broader market. The stock saw 0.33 lakh shares changing hands within the first hour of Wednesday's trade, amounting to a turnover of Rs 8.14 crore
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position