Asian shares rose as US inflation figures showed a rise in line with expectations, raising hopes that the Fed's cycle of interest rate increases is coming to an end. The Labour Department's Consumer Price Index revealed a 4.9% increase in April year on year, compared with an expected 5%. However for the month-on-month increase in April, the CPI rose 0.4%, up from 0.1% in March. China's consumer price growth data was also scrutinised but the nation's factory gate deflation deepened, suggesting fresh stimulus may be needed to boost the coronavirus-hit economy.

The markets on Wednesday were still in a consolidation mode with the Nifty opening in positive territory, losing during the day, and ending with an increase of one-fourth of a percent.

The Nasdaq rose to its highest level in over eight months, boosted by April's less-than-expected increase in inflation and the rollout of Alphabet's latest AI services. The Consumer Price Index in April performed at a 4.9% YoY increase, lower than the 5% expected, indicating an end to the Federal Reserve's interest rate hiking cycle. Traders are pricing a pause in interest rate increases at the central bank's June meeting; less than 5% chance of another 25 basis point hike. However, concerns about the looming US debt ceiling caused choppy sessions on Wall Street.

Gautam Adani's flagship, Adani Enterprises, is considering tapping equity markets to raise cash. The Indian tycoon is hoping the equity sale will help re-establish investor confidence after allegations of fraud knocked $100 bn off the group's value earlier this year. While none of its main units have tapped the equity market since the Hindenburg Research report, Adani's family sold shares worth $1.9bn to US investment firm GQG Partners in March.

Engineering behemoth Larsen & Toubro reported a 10% year-on-year (YoY) growth in consolidated net profit for the March quarter to Rs 3,987 crore. Consolidated revenue from operations rose 10.4% YoY to Rs 58,335.15 crore.

Canara Bank is planning to create a new subsidiary to run its credit card business, said CEO K Satyanarayana Raju. He said the bank, which is the third most-valued state-run lender after State Bank of India and Bank of Baroda, will either use one of its existing subsidiaries or set up a new one to run the card business, which it believes can grow exponentially.

HDFC Bank is set to open 600 branches in semi-urban and rural areas over the course of fiscal year 2024, with more additions also planned in urban locales. ICICI Bank is also expected to open more than 500 new branches across geographies while Kotak Mahindra Bank will open 150 branches in the new fiscal year.

At present, an investor with an income or net worth below a certain threshold has to chip in at least ₹1 crore to invest in an AIF - the regulatory term for PE and VC funds. The entry level investment has remained unchanged since AIF rules were announced in 2012.

Undescording the contribution of the diaspora, Patra noted that over the years, India's perceptions about the diaspora have also transformed from ‘brain drain’ to ‘brain gain’, spurred by the contributions that Indians have made in various fields in the global arena.

NARCL has offered ₹45 crore against a claim of ₹1,173 crore that these two banks have filed with the resolution professional, according to a notice issued by lenders to other ARCs.

The proportion of the revenue generated through the sale of digital rights in total revenue of films increased to around 21% in 2022 from nearly 10% in 2019. On the other hand, the share of revenue through the sale of television broadcast rights fell to 5.8% in 2022 from over 11% in 2019.

In April, 67 lakh unique retail investors participated in the cash market on the NSE out of the total demat account base of 11.61 crore. This represents about 5.8% of the total demat accounts in the country. Unique retail investor participation is calculated on the basis of the PAN or Permanent Account Number. This is a more accurate indicator of investor participation as the total demat account base includes multiple account openings by investors.

Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion, creating a financial services titan.

Bajaj Finance has raised its fixed deposit rates up to 40 basis points, offering 8.35% for 44 months and 8.05% for 36 to 60 months. Fixed deposits are simple to understand, making them popular with conservative investors and senior citizens, many of whom rely on such incomes for monthly expenses.

"A quick read would indicate a tilt towards some potential further tightening of monetary policy," said Gregory Daco, chief economist at EY. "But if you lift the cover and look at the underlying details in this report, actually they mostly point towards the higher likelihood of a pause."

US April consumer inflation, which was announced on Wednesday after trading hours in Mumbai, increased 4.9% - the lowest since April 2021. This was in line with expectations, raising expectations of a pause in interest rate increases by the Fed.

Shares of Larsen & Toubro recovered by 10% in March 2023. Since then, the stock has formed a bullish Flag pattern with a neckline at Rs 2,410. L&T's stock price took support above the 50-day moving average on the daily charts before rising ahead, and L&T's Supertrend indicator became "buy" on April 6, 2023. The RSI is placed at 67.1, and MACD is above its signal line, positive signs for investors.

Consolidated revenues from operations in the period under review rose 17.4% to Rs 2214.5 crore. Earnings before interest, depreciation, tax and amortisation (EBIDTA) last quarter stood at Rs 233.2 crore as against Rs 248.2 crore in corresponding period of the previous fiscal.

"Stocks from the capital goods segment have shown a good outperformance in last few months and have given decent returns. From this sector, L&T is in an uptrend and has formed a ‘Bullish Flag’ pattern on the daily chart which is a trend continuation pattern," Ruchit Jain, Lead Research, 5paisa.com, said.

Indian shares advanced on Wednesday as investors parsed through a slate of major corporate earnings and looked ahead to US inflation data.The Nifty 50 closed 0.27% higher at 18,315.10, while the S&P BSE Sensex gained 0.29% to 61,940.20. The benchmarks swung between gains of 0.3% and losses of 0.3% during the session.“Nifty formed a long-legged doji on May 10 but failed to make a new high compared to the previous session. Nifty continues to remain in an uptrend, but its pace has slowed dramatically. The outcome of exit polls for Karnataka state elections this evening could impact the opening of our markets on Thursday. A break of the 18180-18344 bands could determine the direction of the markets in the near term,” Deepak Jasani, Head of Retail Research, HDFC Securities, said.Here are stock recommendations for Thursday:

On Wednesday, Sensex gained 179 points to reach the 61,940-mark. As a result of this upswing, 5 stocks from the BSE midcap index achieved new 52-week highs — a crucial technical indicator for several traders and investors. This indicator determines a stock's present value and anticipates its future price movements. The highest price at which a stock has been trading during the previous year is represented by the term "52-week high."

The Dow Jones Industrial Average rose 145.39 points, or 0.43%, at the open to 33,707.20.

A balanced portfolio strategy and active search for GARP opportunities on a bottom-up basis are advised by experts for Indian investors to capitalise on the pockets of strong earnings recovery, according to a report by Tata Mutual Fund. An early cycle valuation of mid and small-sized banks offers strong earning momentum and returns for investors, whilst increasing exposure in capital goods/industrial sectors and stabilised sectors like IT and FMCG also present opportunities. Despite global uncertainties in IT spending, the report suggests investors should look for value with triggers and an earnings upgrade cycle.

Indian capital markets regulator Sebi has allowed exchanges to extend direct market access (DMA) to foreign portfolio investors (FPIs) to participate in exchange-traded commodity derivatives (ETCDs). Following discussions with its Commodity Derivatives Advisory Committee, Sebi said it had decided to allow stock exchanges to extend the DMA to FPIs in ETCDs based on representations received and subject to certain conditions. Sebi permitted FPIs to participate in cash-settled non-agricultural commodity derivative contracts in September 2022, while alternate investment funds, portfolio management services and mutual funds were given permission in 2017.

India’s regulator for capital markets, SEBI, has cancelled the registration of broker Skung Commxperts for allowing its clients to undertake illegal trading activity, involving “paired contracts”, on the now defunct National Spot Exchange (NSEL). Although clients had requested the trade, SEBI has said that this fact was not sufficient to absolve the proper duty of care expected of a brokerage. The platform allowed the buying and selling of the same commodity at different prices on the exchange platform, and this ultimately caused substantial losses.

Indian markets saw a muted session as investors focussed on individual stocks, with the Karnataka Assembly elections as a backdrop. The benchmark Nifty index settled 49.15 points higher at 18,315.10, following a day of gain and loss swings. A long-legged doji pattern emerged on the daily chart, suggesting investors should exercise caution at the highs. No reversal pattern has been spotted so far, yet a decisive move above the 18,300-18,400 range would unlock upside targets of 18,600-18,700 in the near term.

One of the biggest food delivery apps - Zomato's shares fell nearly 5% on Monday due the new disruptor in the market - ONDC. Zomato's stock price was Rs 62.45 and was down around 3.78% at closing. In fact, Zomato has even lost 5% in stock value terms in the past 3 trading sessions. So what is this ONDC and why is it being called a game changer? Neha Vashishth of ET Markets explains

The BSE benchmark Sensex advanced 179 points or 0.29% to settle at 61,940. The broader NSE Nifty50 rose 49 points or 0.27% to end at 18,315.​

Industry body PHDCCI has requested the Securities and Exchange Board of India (Sebi) to introduce an easy and early process for small firms looking to delist shares from the Calcutta Stock Exchange. The body has called for an “amnesty scheme” or “minimum penalty” or “waiver” that would alleviate some of the financial struggles smaller firms face to comply with regulatory requirements. This could encourage additional companies to ensure they are compliant with regulatory requirements. The Chamber has cited 32 companies recently suspended by CSE as evidence of companies’ desire to delist.

This decision will open new gates for the India business and employees in a value-driven move to accelerate growth for both the pharmaceuticals business (SIL) and consumer healthcare business (SCHIL) in India, the drug maker said.

Closing Bell: Fag-end buying drives Sensex 179 points higher; Nifty above 18,300; TV18 surges 8%, Varun Beverages 7%.

Tata Motors may consider dividend payment for FY23 after seven years, which may narrow the discount in its DVR shares over its ordinary shares. Tata Motors' DVRs trade at a 44% discount to its ordinary shares, but offer a higher percentage of dividends for retail investors. The company's improving financial performance in the local market may enable it to pay dividends for the first time since FY16. Although Tata Motors may incur capital expenditure plans, dividend payouts could improve investors' confidence in the company's future cash flows.

ET Markets has identified 10 midcap stocks in which promoters have consistently reduced stakes over the past three quarters of FY23. However, the stock prices have not been affected and, in fact, the majority of them have shown positive returns over the last year. Five stocks have even gained between 20 and 60% during the period. (Data Source: ACE Equity).It's worth noting that when a promoter reduces stake, it can have various implications for the company and its shareholders, potentially impacting investor sentiment and leading to changes in ownership structure. There could be several reasons behind a promoter choosing to reduce stake in a company, including diversification, capital requirements, profit realization, and regulatory obligations.

Venky's India, one of the largest poultry firms in India, reported a 56% decline in consolidated profit after tax for Q1 2021 as a result of high costs of poultry feed ingredients and lower sales. Although revenue from its poultry segment fell by 3%, profit margins were severely affected due to steep increases in soya and maize costs, causing core profit margins to fall to 3.26% from 6.99%. Shareholders have been recommended a dividend of 6 rupees per share for the 2023 fiscal year. The Animal Health Products division in Maharashtra is on track, with construction ending in June.

Private equity firm Blackstone has launched an open offer to acquire 26% stake in R Systems International after its delisting offer failed. BCP Asia II Topco II Pte. Ltd and Blackstone Capital Partners Asia II L.P. have offered to acquire up to 57,173,476 fully paid-up equity shares, representing 48.33% of the voting share capital of R Systems International. Public shareholders who previously tendered their equity shares during the delisting offer between April 21 and May 8 can withdraw within five working days following the publication of the offer status public announcement.

Godrej Agrovet reported a 74% drop in its January-March quarter consolidated net profit. The company's profit after tax (PAT) for the quarter ended March 31, 2023, was INR 31 crore, down from INR 122 crore in Q4FY23. The total revenue from operations for the quarter was INR 2,095 crore versus INR 2,081 crore in the same period last year, up 0.67%. The stock has underperformed Nifty50, giving negative returns of 20% over the last one year. Godrej Agrovet stock was trading at INR 421.70 on the NSE.

Shares of Rail Vikas Nigam (RVNL) fell 14% in three trading days, and they are currently locked in a 5% lower circuit. Despite this recent decline, RVNL has delivered a return of 148% in the last six months and has surged 645% in the last five years. Aditya Gaggar, Director of Progressive Shares, said RVNL is performing well, backed by an order backlog and government initiatives in the infrastructure space. In Q3FY23, RVNL reported a 30.5% rise in consolidated net profit at Rs 382.42 crore.

Except for a pocket in which demand for covid drugs led to sharp surge in pharma stocks, the pharma sector had been under pressure for a long time. After a long phase of consolidation, in which some companies have implemented change in their business model, are pharma stocks close to breakout ? Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Latent View Analytics' shares dropped by 9% to reach Rs 340 after its profit after tax declined by 4% YoY to Rs 34.2 crore in Q4 FY23. Its EBITDA also decreased by 15.9% YoY to Rs 30.1 crore. However, the company's revenue from operations climbed up to Rs 141.1 crore, marking an increase of 20.1% YoY. During FY23, the firm's EBITDA saw a YoY increase of 19% to Ref 145.1 crore. It also recorded its all-time high revenue from operations of Rs 538.8 crore, a YoY increase of 32%.

Nifty sneezes and small caps catch cold. But small investors love the cold. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from small cap space with high upside potential over the next 12 months, having an average recommendation rating of “Buy” or "Strong Buy" and also meeting some parameters like net margins and return on equity.

The metal sector has been underperforming significantly, with a negative 2% return from the BSE Metal index in the past year and earnings from listed companies being lacklustre, posting a 67% earnings decline for the quarter ending on March 31st. However, Motilal Oswal Financial Services' report suggests that the overall 4QFY23 aggregate earnings have gone up 8% YoY, with automobiles and BFSI leading at 9% and 28%, respectively. The report also suggests buying NMDC, Coal India, Hindalco and JSPL, with a neutral stance on the others.

HDFC is the Rahul Dravid of stock markets. Here's the reason why Saurabh Mukherjea of Marcellus Investment Managers believes so. Watch!

Indian IT companies have posted their worst results in 11 quarters, and stocks in tier-one tech firms have dropped up to 21% in the past three months. Weak demand for IT services is squeezing earnings, while there is little expectation of recovery in the first two quarters of the 2023 financial year, resulting in signs of a slowdown. As a result, BofA Securities, despite analysts being slightly overweight on the sector, has issued an underweight on Indian IT stocks with neutral ratings for Infosys and TCS, and predicting that Wipro and Tech Mahindra will underperform.

Motilal Oswal has reiterated a "Buy" rating on Zomato stock, claiming it has found "no evidence" of an adverse impact from the Open Network for Digital Commerce (ONDC) on the food delivery app. BofA Securities has taken a more cautious "Neutral" stance, setting a price target of INR72 ($0.96). Though warning ONDC could become a significant risk if it continues to scale up it may still "serve as a key platform in the food delivery space". In contrast, the high-end users who prefer speedy service on Zomato and Swiggy are not particularly price-sensitive.

Communication platform Tanla Platforms has seen its share price bounce back from a 52-week low of INR493 ($6.54) on 28 March 2023. Trading at a 53% discount from its 52-week high, the stock has underperformed the Nifty50, returning negative 52% over one year compared to the index's 11%. The largest communications platform as a service player in India, Tanla aims to reduce spam and fraud with its development of blockchain technology. While the stock had been performing poorly since January 2022, the technical charts show a likely upward movement on a short- to medium-term basis.

Shares of Mankind Pharma fell more than 6%, a day after its listing on the Indian stock exchanges at a premium. The company's IPO was the largest so far this year and one of the biggest ever by a domestic drug maker since Gland Pharma's offering in 2020. Mankind Pharma is India's fourth-largest pharmaceutical company in terms of domestic sales and operates 25 manufacturing facilities across the country. Antique and Macquarie have initiated coverage on Mankind Pharma with buy and outperform ratings, respectively and optimistic about the firm's future growth.

Despite global concerns, the domestic market structure remains positive on the back of healthy macro data, strong earnings and recent FII buying. Nifty also, after a weak run in the last four months, bounced back in April with a 4.1% MoM gain. According to Motilal Oswal, largecap stocks can rally up to 30%. Here are its top picks:

Shipping Corporation of India (SCI) shares surged over 8% on NSE after posting strong Q4FY23 results. The company's net profit rose by 156% YoY to INR 379.91 crore, while revenue rose nearly 7% to INR 1,452.42 crore for the quarter ended March 31, 2023. SCI also announced a dividend of Re 0.44 per share to the exchanges. Despite being an underperformer for the past year, the stock has rebounded from its 52-week low level of INR 79.20 on April 10, 2023, to trade at INR 100.15 on Wednesday.

Investors are increasing their holdings in emerging-market stocks through the iShares MSCI Emerging Markets ex China ETF, which received $148m of inflows in the past week. This comes as ETFs buying Chinese shares failed to get new inflows over the same period as China's patchy economic recovery, geopolitical tensions and regulatory risks continue to overshadow the region. Investors have poured $639m into the $3.8bn ex-China fund, buying in during emerging-market selloffs in February and April. The all-equity fund has allocated 21% of its resources to Taiwan and 20% to India.

Brokerages have initiated coverage and maintained ratings on several companies, according to top brokerages sources. Antique has initiated a buy on Mankind Pharma citing its diversified therapy mix as a positive, while Macquarie has given an outperform rating to Lupin due to its Q4 revenue and earnings beating estimates. Nomura has maintained buy on MGL, saying the company delivers the second-highest-ever gross margin. However, BofA Securities has preferred to remain neutral on Zomato, with Jefferies offering a buy rating for Godrej Consumer.