Share Market Live: Sensex, Nifty Off Day's Lows; Kotak Mahindra Bank Up 3%
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Analyst Calls: Rallis India, Alembic Pharma
Rallis India raised to 'buy' at IIFL; Price target: Rs 335
Alembic Pharma cut to 'hold' at KR Choksey; Price target: Rs 804
Source: Bloomberg
Future Group: Amazon Has Filed Interim Application In The Pending SLP Before Apex Court
Future Retail Ltd. said that Amazon has filed an interim application in the SLP that is pending before the Supreme Court, according to an exchange filing by the company.
Broader Indices Almost Mirror Their Larger Peers
Shoppers Stop Climbs Nearly 20% On Strong Q2; RSI Above 70
Shares of Shoppers Stop Ltd. rose nearly 20% in intraday trade to Rs 336 apiece after the company reported growth in revenue in the September quarter.
Shoppers Stop Q2FY22 (Consolidated, YoY)
Revenue up 1.16 times at Rs 642.07 crore Vs Rs 296.98 crore
Net loss at Rs 3.58 crore Vs Rs 97.70 crore
Ebitda gain of Rs 72.32 crore Vs Ebitda loss of Rs 38.15 crore
Of the 13 analysts tracking the company, eight maintained 'buy', four maintained 'hold' and one maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 11.2%.
The relative strength index on the stock was 80, suggesting it may be overbought. Trading volume on the stock was 28.7 times the 30-day average volume, for this time of the day.
India Yields Mostly Lower
Most yields along the India sovereign yield curve fell, with 10-year bonds moving the most in Thursday morning trading.
The 3-year yield fell 1.1bps to 5.071%
The 10-year yield fell 2.2bps to 6.351%
The 14-year yield fell 1.2bps to 6.848%
The 3-year-10-year yield spread was 128bps, vs previous close 129.1bps
Source: Bloomberg