Bajaj Finance fell as much as 5.2%, the most intraday since April 19, after the company said B2B and auto finance businesses were the worst hit by lockdowns in different states.
tocks For Today: Bajaj Finance, NHPC, PNB, REC, Welspun Corp — Indian equity benchmarks go into the new week after a decline on Friday as the central bank kept borrowing costs at a record low level and lowered its economic growth projection. The S&P BSE Sensex slid 0.2% to 52,100.05, paring gains of as much as 0.3%, but closed the week 1.3% higher. The NSE Nifty 50 fell 0.13% at 15,670.25, capping its weekly advance to 1.5%.
APL Apollo Tubes Ltd. recorded better than expected Q4 FY21 Ebitda of Rs 2.07 billion (our estimate: Rs 1.8 billion) on account of higher premium/lower discounts.
ICICI Direct Report: In this report, we have focused on the auto ancillary pack, where most quality stocks have undergone significant price/time correction and yet many of them are available at favourable risk-reward profile.
Nifty This Week: Technical Charts: So, the new high on the Nifty 50 was finally in. It was, as we had been discussing over the past few weeks, more a question of when rather than if. This is why we had asked readers to just stick with it and ride over the noise of the short term.
Asian stocks were broadly steady Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets.