Stock Market Updates: Weakness in the initial market, today’s top 5 shares on which investors will be eyeing
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The Sensex was trading at 65,113.14, down 288.78 points, or 0.44 percent, while the Nifty was down 98.05 points, or 0.45 percent, at 19,346.30. Was doing business at the level of
The domestic stock market is showing a decline amid mixed global signals. Sensex and Nifty started weak in today’s trade. The Sensex was trading at 65,113.14, down 288.78 points, or 0.44 percent, while the Nifty was down 98.05 points, or 0.45 percent, at 19,346.30. Was doing business at the level of In today’s business, there is selling in most of the sectors. IT and media index on Nifty are in green mark. While most of the indices including Bank, Financial, Auto, Pharma, Metal are trading in red mark. The shares of ITC, TECHM, INFY, WIPRO, HCLTECH are in green color i.e. in growth, while the shares of HINDALCO, BRITANNIA, HEROMOTOCO, HDFCLIFE, DIVISLAB are visible in red color i.e. weak. Today i.e. 16 August 2023, some stocks are ready to show action in a volatile market. These stocks can remain in focus in the market today. If you are looking for better stocks in intraday then you can keep an eye on these.
Infosys
Video, broadband and communications company Liberty Global and information technology company Infosys announced a multi-year agreement worth 1.5 billion euros (about $1.63 billion) to expand Liberty Global’s digital entertainment and connectivity platforms. According to a statement, Infosys will provide services to Liberty Global for an estimated value of 1.5 billion euros over an initial 5-year period and a total deal of 2.3 billion euros by the end of 8 years.
M&M’s
Domestic vehicle manufacturer Mahindra & Mahindra has launched a new series of small tractors as part of its plan to achieve the target of doubling tractor exports in the next 3 years. Mahindra & Mahindra, the world’s largest tractor manufacturer, exported around 18,000 tractors in the last financial year. The company said it has invested Rs 1,200 crore on the development of the OJA platform for tractors. Products with 20-70 HP capacity can be made on this platform. With the new range the company aims to cater to the needs of smallholder farmers especially in India, USA and ASEAN region.
ITC
The profit of ITC Limited has increased by 16.08 percent on an annual basis to Rs 5180.12 crore in the first quarter (April-June) of the financial year 2023-24. The company’s profit in the same period of the last financial year was Rs 4,462.25 crore. ITC Ltd’s operating income declined by 6 per cent to Rs 18,639.48 crore as against Rs 19,831.27 crore in the first quarter of the previous fiscal. The total expenditure of ITC in the quarter under review stood at Rs 12,421.77 crore, which is 12.53 per cent lower than the first quarter of FY 2022-23.
SBI
State Bank of India (SBI) will open 300 branches across the country in the current financial year. SBI currently has 22,405 branches across the country. Apart from this, there are 235 branches and offices abroad. According to SBI Chairman Dinesh Khara, we are looking at expanding our digital operations. With this, we have plans to open around 300 branches in the current financial year. It will depend on where they are needed.
Vodafone Idea
Debt-ridden telecom company Vodafone Idea Limited (VIL) has widened its losses to Rs 7,840 crore in the June quarter. The company had incurred a loss of Rs 7,295.7 crore in the same quarter of the previous financial year. Operating income grew by 2.3 per cent to Rs 10,655.5 crore, as against Rs 10,406.8 crore in the same quarter last fiscal. Vodafone Idea’s average revenue per subscriber (ARPU) rose to Rs 139 in the June quarter from Rs 128 in the year-ago quarter.
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