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DailyBubble News

Sensex today: Stock Market Crash LIVE Updates: Sensex down over 650 pts, Nifty

Sensex Today: Indian stocks hit an over-one-week low in volatile trading on Wednesday, ahead of the monthly expiry of derivatives and the federal budget.

“We are seeing a lot of volatility, especially in the light of the Adani report, and with monthly expiry for futures and options today and before the budget,” said Samrat Dasgupta, chief executive officer of Esquire Capital Investment Advisors.

Nifty’s volatility index climbed as much as 8.5% to 14.815 after hovering around the 14 mark for over a month.

Stocks of Adani group companies fell between 2% and 7% after short-seller Hindenburg Research said it holds short positions in those firms through U.S.-traded bonds and non-Indian-traded derivative instruments.

The Nifty is still in the 17,800 to 18,200 range, so it may be a good opportunity to pick up stocks when it reaches the 17,800 level as it is a good support as of now, Dasgupta said.

Markets will likely see further consolidation ahead of the Union budget due next week, which could entail a higher allocation for social sector programmes, analysts have said.

All the major sectoral indexes declined, with the high-weightage financials and IT losing 1.5% and 0.8%, respectively.

Nifty 50 members Tata Motors, Bajaj Auto , Cipla Ltd and Dr Reddy’s Labs are scheduled to report their quarterly results later in the day.

Auto stocks shed early gains to trade 0.2% lower, with Maruti Suzuki and Bajaj Auto the only gainers on the index.

Maruti was up 0.8% on strong third-quarter earnings, while Bajaj Auto rose 0.3%.

Indian markets will be closed on Thursday for a public holiday.

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TeamLease Q3 Results

  • Net profit down 9.1% QoQ to ₹29 cr vs ₹31.9 cr
  • Revenue up 2.7% QoQ to ₹2,008.3 cr vs ₹1,955.1 cr
  • EBITDA flat at ₹31.7 cr vs ₹31.7 cr QoQ
  • EBITDA margin flat QoQ at 1.6% vs 1.6%

TeamLease Q3FY23

Sun Pharma launches Sezaby Phenobarbital Sodium in the US. The company launches Sezaby for the treatment of Neonatal Seizures

Price as on 25 Jan, 2023 02:27 PM, Click on company names for their live prices.

Cipla earnings at a glance


  • Cons PAT: Rs 800 cr vs ET NOW poll of Rs 880 cr
  • Cons Revenue: Rs 5810 cr vs ET NOW poll of Rs 5478 cr

Hindenburg report timed to damage Adani Enterprises FPO: Adani Group

After a negative report by American short-seller Hindenburg Research led to widespread selling in Adani Group stocks, the conglomerate said it is timed with a mala fide intention to damaging Adani Enterprises FPO.

In a statement, the Adani Group said Hindenburg Research’s report is a malicious combination of selective misinformation and was published without making any attempt to contact them.

The timing of the report publication betrays a brazen, mala fide intention to undermine Adani Group’s reputation with objective of damaging the upcoming FPO, it said.

Arvind Q3 profit slumps on low sales of denim

India’s textile manufacturer Arvind Ltd reported a 9.3% drop in quarterly profit on Wednesday, hurt by weak demand for denim garments. The Ahmedabad-based firm posted a net profit of 841.2 million rupees ($10.30 million) for the three months ended Dec. 31, from 927.7 million rupees a year earlier. The company, which supplies cloth to brands such as Calvin Klein, Ed Hardy, and Tommy Hilfiger, said its quarterly revenue from operations fell 12.8% to 19.80 billion rupees from last year.

Kirloskar Electric Company Q3 Results

  • PAT at Rs 3.38 crore vs loss of Rs 10.87 crore
  • Revenue at Rs 116 crore vs Rs 82.1 crore


Asahi India Glass names Sanjay Labroo as MD, CEO

Price as on 25 Jan, 2023 01:12 PM, Click on company names for their live prices.

Indian markets experienced a sharp fall on January F&O expiry day. There is no trigger, but the market is looking nervous ahead of the Union budget. The market is following last year’s pattern because, in 2022, the Nifty saw a doji candle (which indicates a range-bound move) in the second and third weeks of January, followed by a sharp fall in the final week of January. However, that sell-off was a buying opportunity because then we saw a sharp post-budget rally. So, as per the template, we can expect a post-budget rally in the market. Technically, Nifty is near the critical support level of 17800, and if it…

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