On Thursday, the domestic equity indices concluded the day with minor gains, mirroring mixed global indications. After hitting a high of 16,945.70 in the early session, Nifty ended below 16,700. Banks, FMCG, and real estate stocks fell while IT & metal stocks rose.  

It was a disappointing day as Nifty lost nearly all its gains in the last couple of hours. In the end, Nifty closed flat at 16,682. Moreover, Nifty Midcap and Nifty Smallcap closed on a mixed note.   

The shares of Laxmi Organic Industries Ltd plunged 6.29 per cent to Rs 397.60 despite posting good Q4FY22 numbers. Besides, the 52-week high value of the company’s share is Rs 628.05. 

Larsen and Toubro Ltd, Hind Rectifiers Ltd and State Bank of India are today’s mid-day movers.

At 11.45 am on Thursday, the core equity indices i.e., Sensex and Nifty 50 were trading higher by 1.30 per cent each after reaching their day’s high of 1.57 per cent. This surge in their levels comes after Federal Reserve Chairman finally hiked the funds' rates by 50 basis points on Wednesday.   

Fed Chairman also made clear that it is not planning to hike the rates by 75 basis points in the upcoming meeting in June.   

The RBI surprised the market yesterday by raising key policy rates by 40 basis points. What effect would this have on debt fund investors? Let us investigate.

After Reserve Bank of India (RBI) lifted the repo rate by 40 basis points (bps) to 4.40 per cent at an off-cycle meeting on Wednesday, the Indian markets opened on a positive note on Thursday. The domestic equities saw widespread buying with the bank, auto, and IT sectors leading the market. The sole laggard in the early session was the consumer durables sector.

In FY22, the company has achieved a consolidated turnover of Rs 284.4 crore with a profit before tax of Rs 28 crore, exhibiting growth of 97 per cent on a YoY basis.

The company’s reliance on NBFC funding is a mere 5 per cent of the total borrowings and has significantly reduced its reliance on the higher cost of funding. Around 63 per cent of its borrowings are from banks. 

In a surprise move on Wednesday, RBI Governor announced a 40 bps hike in the repo rate to 4.4 per cent, which sent shockwaves across the stock and bond markets.