Market LIVE Updates: Indices trade in the red, Nifty around 16,100; financials, metals shine – Moneycontrol

May 11, 2022 / 02:29 PM IST

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Prudent Corporate Advisory Services IPO updates:

The public issue of Prudent Corporate Advisory Services has received bids for 29.29 lakh equity shares against an offer size of 60.18 lakh equity shares, subscribing 49 percent so far on May 11, the second day of bidding.

Retail investors have bought 95 percent of the allotted quota and employees bid for 55 percent shares of the reserved portion. The part set aside for non-institutional investors has been booked 4 percent, while qualified institutional buyers are yet to show their interest in the issue.

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Prudent Corporate Advisory Services IPO updates:

The public issue of Prudent Corporate Advisory Services has received bids for 29.29 lakh equity shares against an offer size of 60.18 lakh equity shares, subscribing 49 percent so far on May 11, the second day of bidding.

Retail investors have bought 95 percent of the allotted quota and employees bid for 55 percent shares of the reserved portion. The part set aside for non-institutional investors has been booked 4 percent, while qualified institutional buyers are yet to show their interest in the issue.

May 11, 2022 / 02:28 PM IST

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Balaji Amines Q4: Consolidated net profit was up 28.7% at Rs 108.7 crore against Rs 84.5 crore (YoY). Consolidated revenue jumped 88.2% at Rs 779 crore against Rs 414 crore (YoY). Consolidated EBITDA rose 52.9% at Rs 197 crore against Rs 129 crore (YoY). Consolidated EBITDA margin at 25.3% against 31.1% (YoY).

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Balaji Amines Q4: Consolidated net profit was up 28.7% at Rs 108.7 crore against Rs 84.5 crore (YoY). Consolidated revenue jumped 88.2% at Rs 779 crore against Rs 414 crore (YoY). Consolidated EBITDA rose 52.9% at Rs 197 crore against Rs 129 crore (YoY). Consolidated EBITDA margin at 25.3% against 31.1% (YoY).

May 11, 2022 / 02:25 PM IST

Dishman Carbogen Q4: Net loss of Rs 44.62 crore against loss of Rs 135.02 crore (YoY). Revenue was up 7.5% at Rs 569 crore against Rs 529.3 crore (YoY). EBITDA went down 75.2% to Rs 21.9 crore against Rs 88.20 crore (YoY). EBITDA margin at 3.85% against 16.66% (YoY).

 Dishman Carbogen Q4: Net loss of Rs 44.62 crore against loss of Rs 135.02 crore (YoY). Revenue was up 7.5% at Rs 569 crore against Rs 529.3 crore (YoY). EBITDA went down 75.2% to Rs 21.9 crore against Rs 88.20 crore (YoY). EBITDA margin at 3.85% against 16.66% (YoY).

May 11, 2022 / 02:12 PM IST

May 11, 2022 / 02:08 PM IST

Market Update at 2 PM: Sensex is down 315 points or 0.58 percent at 54,049.69 while the Nifty shed 69 points or 0.43 percent and is trading at 16,170 level.

 Market Update at 2 PM: Sensex is down 315 points or 0.58 percent at 54,049.69 while the Nifty shed 69 points or 0.43 percent and is trading at 16,170 level.

May 11, 2022 / 01:51 PM IST

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Nifty slipped below 16,000 and recovers, Sensex falls over 500 points; Factors To Watch

Indian markets set for fourth day losses as earnings of firms show surging inflation dragging growth.

According to a Bloomberg poll, of the 28 Nifty50 firms so far reported earnings 11 has missed while 17 has matched estimates.

Investors are also awaiting US inflation to solidify expectations for the Federal Reserve's rate hike trajectory.

Domestically, Investors awaited Consumer price inflation and factory output numbers for April and March respectively, on Thursday.

According to a Bloomberg poll, CPI inflation for April is likely to be at 7.42% from 6.95% a month ago. IIP will be at 1.3% for March against 1.7% previous month.

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Nifty slipped below 16,000 and recovers, Sensex falls over 500 points; Factors To Watch

Indian markets set for fourth day losses as earnings of firms show surging inflation dragging growth.

According to a Bloomberg poll, of the 28 Nifty50 firms so far reported earnings 11 has missed while 17 has matched estimates.

Investors are also awaiting US inflation to solidify expectations for the Federal Reserve’s rate hike trajectory.

Domestically, Investors awaited Consumer price inflation and factory output numbers for April and March respectively, on Thursday.

According to a Bloomberg poll, CPI inflation for April is likely to be at 7.42% from 6.95% a month ago. IIP will be at 1.3% for March against 1.7% previous month.

May 11, 2022 / 01:49 PM IST

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Morgan Stanley has trimmed India's gross domestic product (GDP) growth forecasts to 7.6% for F2023 and to 6.7% for F2024, reported Mint.

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Morgan Stanley has trimmed India’s gross domestic product (GDP) growth forecasts to 7.6% for F2023 and to 6.7% for F2024, reported Mint.

May 11, 2022 / 01:45 PM IST

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Morgan Stanley View on Sun Pharma:

Morgan Stanley has maintained overweight rating on Sun Pharma with a target at Rs 1,002 per share.

Research firm expect momentum in earnings and scale-up in global specialty business. However, delay in Halol remediation is a damper.

Halol observations will delay approval of key filings from this site¸ reported CNBC-TV18.

Sun Pharmaceutical Industries was quoting at Rs 856.40, down Rs 5.20, or 0.60 percent on the BSE.

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Morgan Stanley View on Sun Pharma:

Morgan Stanley has maintained overweight rating on Sun Pharma with a target at Rs 1,002 per share.

Research firm expect momentum in earnings and scale-up in global specialty business. However, delay in Halol remediation is a damper.

Halol observations will delay approval of key filings from this site¸ reported CNBC-TV18.

Sun Pharmaceutical Industries was quoting at Rs 856.40, down Rs 5.20, or 0.60 percent on the BSE.

May 11, 2022 / 01:41 PM IST

Jubilant FoodWorks completes acquisition of 49% stake in Jubilant Golden Harvest

Jubilant FoodWorks has completed the acquisition of 49% stake from Golden Harvest QSR in Jubilant Golden Harvest on May 10, 2022 at an aggregate consideration amounting to BDT 389,015,160 (Bangladeshi Taka Three Hundred and Eighty Nine Million Fifteen Thousand One Hundred and Sixty Only)(equivalent to Rs 34.02 crore) and certain post-closing intimations and registrations with the regulatory authorities are being undertaken. 

Post-acquisition, company’s stake in JGHL increased from 51% to 100% (with 1 share of JGHL being held by a nominee of the in order to comply with local law requirements in Bangladesh).

 Jubilant FoodWorks completes acquisition of 49% stake in Jubilant Golden Harvest Jubilant FoodWorks has completed the acquisition of 49% stake from Golden Harvest QSR in Jubilant Golden Harvest on May 10, 2022 at an aggregate consideration amounting to BDT 389,015,160 (Bangladeshi Taka Three Hundred and Eighty Nine Million Fifteen Thousand One Hundred and Sixty Only)(equivalent to Rs 34.02 crore) and certain post-closing intimations and registrations with the regulatory authorities are being undertaken.  Post-acquisition, company’s stake in JGHL increased from 51% to 100% (with 1 share of JGHL being held by a nominee of the in order to comply with local law requirements in Bangladesh).

May 11, 2022 / 01:34 PM IST

BSE Realty index plunged 2 percent dragged by Indiabulls Real Estate, Sunteck Realty, Brigade Enterprises:

 BSE Realty index plunged 2 percent dragged by Indiabulls Real Estate, Sunteck Realty, Brigade Enterprises:

May 11, 2022 / 01:30 PM IST

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Credit Suisse keeps outperform rating on Cipla

The brokerage house Credit Suisse has kept an outperform rating on Cipla and cut the target price to Rs 1,100 from Rs 1,150 per share.

The FY23 margin guidance is a tad lower as Advair approval is still expected.

The FY22-24 EPS compound annual rate is strong at 17%, CNBC-TV18 reported.

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Credit Suisse keeps outperform rating on Cipla

The brokerage house Credit Suisse has kept an outperform rating on Cipla and cut the target price to Rs 1,100 from Rs 1,150 per share.

The FY23 margin guidance is a tad lower as Advair approval is still expected.

The FY22-24 EPS compound annual rate is strong at 17%, CNBC-TV18 reported.

May 11, 2022 / 01:23 PM IST

Nearly 200 stocks hit 52-week low on BSE including Ajanta Pharma, Aarti Industries, Sanofi India. Click to get Complete List

 Nearly 200 stocks hit 52-week low on BSE including Ajanta Pharma, Aarti Industries, Sanofi India. Click to get Complete List

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