Markets took a breather after the recent surge and ended marginally higher on Wednesday. Shares of Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank among others will be in focus due to various related developments or quarterly earnings. Read more.
Equity benchmark indices open positively with Sensex rising 250 points, driven by financial stocks. The BSE Sensex and Nifty climb, but HUL and Reliance Industries shares suffer from their December quarter results. Most financial stocks perform well, while global oil benchmark Brent crude declines. Domestic equity markets are predicted to have subdued activity, with normal trading sessions announced on Saturday.
Citigroup downgraded RIL post Q3 results, BofA Securities maintained a buy on UltraTech Cements, Morgan Stanley remained underweight on RBL Bank and Equal Weight on HUL. Here’s a list of recommendations from top brokerage firms.
Nifty formed a Doji candle on the daily chart, US stocks opened higher, FPIs emerged as net sellers for the third consecutive day, and Nifty Bank dropped over 4% in a week. Paytm announced its Q3 results with key highlights.
Hindustan Unilever (HUL), India’s largest consumer goods firm, is embarking on a global first by experimenting with innovative technology to produce essential raw materials for detergents. The company aims to drastically reduce greenhouse gas emissions by utilizing Green Ammonia and collaborating with suppliers and vendors. HUL’s recent Clean Future Summit highlighted its commitment to sustainability and introduced its new technology for manufacturing soda ash and silicate. HUL plans to scale up low GHG soda ash production and create near-zero soda ash and green silicate using carbon capture technology and biomass utilization.
