Thank you, readers! That's all from CNBCTV18.com's live market coverage on October 12, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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India will also correct if global markets keep falling on a daily basis: Helios Capital's Dinshaw Irani
Dinshaw Irani, CIO at Helios Capital India, is of the view that "the world has to even out for India to grow". Ultimately, the Indian market will also correct of global markets keep falling on a daily basis, he says in an interaction with CNBC-TV18.
"You can't have too much of a runaway gap in your valuation vis-a-vis global markets," he adds.
Market At Close | Sensex and Nifty50 surge in 2nd half of the day
Here are some highlights:
--Financial stocks lift market
--Most Nifty Bank constituents in the green
--Axis Bank, Reliance, HDFC, HDFC Bank and L&T top Nifty contributors
--PSU stocks continue to rise — CIL, NTPC and PowerGrid among top Nifty gainers
--HCL Tech and Wipro rise ahead of Q2 earnings
--Asian Paints and Adani Enterprises top Nifty losers
--L&T Financial jumps four percnet following SEBI nod for AMC business sale
--IDFC, City Union Bank, Manappuram, Indiabulls Hsg and IDFC First top midcap gainers
--Laurus, Syngene, Zee Entertainment, Whirlpool, Alkem and IndiGo top midcap losers
Cement makers may not see improved margins so soon — here's what analysts expect this quarter
Cement stocks have been at centrestage on Dalal Street when the sector is undergoing consolidation. Stocks from the likes of UltraTech, Ambuja, ACC and Shree have seen mixed moves over the past few weeks amid wild swings in the market.
Analysts are divided over the current quarterly earnings from the space but remain upbeat for the following quarters, banking on reducing operating costs and a pickup in demand. (Read more)
Asian Paints could see some bit of correction: Shahina Mukadam
"98 percent of Asian Paints' turnover comes from the paints business. And it is a very strong brand doing pretty well. Its first quarter numbers were very good despite the slowdown in consumer demand that we saw across other sectors," independent market expert Shahina Mukadam tells CNBC-TV18.
Asian Paints has an expensive valuation, about 65 times its FY24 earnings, but could see some bit of correction, she adds.
Prefer Indian Hotels over Lemon Tree: Dipan Mehta
"I would rather buy the Indian Hotels at this point of time than Lemon Tree but nonetheless, the prospects of both companies and the hotel industry as a whole are pretty interesting," Dipan Mehta, Director at Elixir Equities, tells CNBC-TV18.
"Certainly in the next 2-3 years, you could see these stocks come back into the reckoning and find their way into many portfolios," he adds.
Haryana shuts Maiden Pharma production
Haryana has shut production of drugs at Maiden Pharmaceuticals, and the state Food & Drugs Administration has issued a show cause notice for 12 violations found at its plants. This company has been under the scanner over cough syrup-linked deaths of more than 60 children in Gambia, West Africa. (Read more)
Banks see loan growth picking up with asset quality set to improve in July-Sept
The banking sector has seen a pickup in loan growth. Analysts expect the July-September period to be at a multi-year high on a year-on-year basis. (Read more)