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Shares of Shree Cement fell 3.38% on Wednesday to ₹29,925 after the company disclosed a tax demand of ₹588.65 crore for FY2021–22.
According to the company’s exchange filing, the demand has arisen from disallowances made by the tax authority. However, Shree Cement has flagged “prima facie errors” in the order and stated that the disputed amount is expected to reduce significantly upon rectification.
Markets have ended trading at 3:30 pm IST.
“The Indian market valuations are at an interesting point. From hereon the earnings outlook for next year becomes important. Obviously, the global liquidity environment has turned positive for emerging markets, including India. So, that’s good news, and that kind of puts some kind of a floor to valuations. But what kind of returns we can give from here is going to be totally dependent on the earnings outlook for the next financial year because we’ve not had a great performance from earnings in FY25. But the good news is that, all the things which were going wrong in FY25 in terms of liquidity, in terms of the government spending, I think are normalising very, very fast this year. So, I remain more optimistic about this year’s earnings growth rate for Nifty, more in maybe around the low teens number is looking like a possibility, compared to last year’s weaker base. I think consumption is also being pushed a lot through both monetary and fiscal policy. So, there are building blocks for earnings to look better, not supremely better than last year, but significantly different from how last year panned out. So, to that extent, I think markets are looking reasonably stable with not too much of downside risk at this point of time in my view.”
Coal India Ltd. informed the exchanges on Wednesday, May 28, that it has been declared as a “Preferred Bidder” by the Ministry of Mines for the Oranga-Revatipur Graphite and Vanadium Block in Chhattisgarh, auctioned for a mining lease under Tranche V.
Net profit down 58.7% at ₹71 cr vs ₹172.80 cr (YoY)
Revenue up 9.50% at ₹1,198.20 cr vs ₹1,095 cr (YoY)
EBITDA up 5.80% at ₹227 cr vs ₹214 cr (YoY)
Margin at 18.92% vs 19.57% (YoY)
Board recommends ₹160/sh as final dividend for FY25
IndiGo will be the first airline to commence commercial flight operations from Navi Mumbai International Airport with over 18 daily departures (36 ATMs) to over 15 cities from day one.
The shares of Interglobe Aviation, the parent company of IndiGo, stood at ₹5,330.00, due to a decline of ₹16.50 or 0.31%.
#4QWithCNBCTV18 | Granules India reports its Q4 results
????Net Profit Up 17.3% at ₹152 Cr Vs ₹129.6 Cr (YoY)
????Revenue Up 1.8% at ₹1,197.4 Cr Vs ₹1,176 Cr (YoY)
????EBITDA Down 1.2% at ₹252.2 Cr Vs ₹255.2 Cr (YoY)
????Margin at 21.06% Vs 21.73% (YoY) pic.twitter.com/Syxju8K5K6
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
The shares of Shree Cements tumbled by over 3%.
The company has been served with a tax demand notice of ₹589 crore for FY2021-22.
The current price of the company shares stands at ₹29,970.
Coal India has reported that it has been declared the preferred bidder for the Oranga-Revatipur Graphite & Vanadium block of Chhattisgarh.
Coal India shares are having a lukewarm day, trading with a decline of ₹1.65 or 0.41%, slumping to ₹398.30 per share.
Leela IPO
Schloss Bangalore Limited, or The Leela’s initial public offering (IPO) has been fully subscribed. The IPO was subscribed 1.60x.
In this, Qualified Institutional Buyers (QIBs) subscribed 2.61x.
Retail Individual Investors (RIIs) subscribed 0.55x.
The shares of GE Vernova T&D India continued to rise on Wednesday. The company’s stocks increased in value by 1.02% in the session. This marks the 6th straight session of gains for the company. In these past 6 sessions, the company’s stocks have surged by over 20%. The current price stands at ₹2,232.30.
Market Watch: Mitessh Thakkar, Technical Analyst
Buy GAIL for a target price of ₹202 with a stop loss of ₹193.50
Sell Avenue Supermarts for a target price of ₹3,960 with a stop loss of ₹4,100
#JustIn | #ZydusLife gets US FDA Nod ‘Fast Track Designation’ for Usnoflast, an oral #NLRP3 Inhibitor
????Alert: #Usnoflast is used for the treatment of Amyotrophic Lateral Sclerosis (ALS)
????Alert: ALS is a disease that affects brain & spinal cord nerve cells pic.twitter.com/QE9ez4a1ce
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
Brokerage firm UBS on Wednesday, May 28, projected a 30% upside on Aarti Industries shares, after double-upgrading the stock to “buy”, from its earlier rating of “sell.”
UBS has raised its price target on Aarti Industries to ₹625 per share from ₹615 earlier. The stock ended the previous session at ₹478 apiece.
The shares of Fortis Healthcare rose by over 1.5% after a judical restraint was lifted.
#JustIn | #FortisHealthcare: Judicial restraint placed on #ShrimannHosp for consummation of sale to co has been lifted pic.twitter.com/bDTvbsvrhG
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
As the day’s trade starts to heat up, here are some stock recommendations for you Mitessh Thakkar, Technical Analyst
#CNBCTV18Exclusive | While the world doubts America’s staying in power…#DrRaghuramRajan tells @_prashantnair that maybe the consensus on the end of U.S. exceptionalism is wrong#StockMarket #Nifty #banknifty #Trump #UBSConference pic.twitter.com/0Q6o0hF5cO
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
Belrise Industries rang the bell and entered the exchanges, listing at ₹100/sh Vs Issue Price Of ₹90/sh On NSE.
#CNBCTV18Market | #NMDC down over 2%, #TriveniEngg up nearly 9% after Q4 earnings pic.twitter.com/y9EdXvnekO
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
The shares of Triveni Engineering and Industries Ltd surged by over 9% on Wednesday. The company announced its Q4 results on Tuesday.
The company’s revenue grew 24.4% to ₹1,925.3 crore from ₹1,548 crore a year ago, reflecting strong performance across its diversified business segments. Operating profit also saw a sharp uptick, with EBITDA increasing 25.5% year-on-year to ₹308 crore, up from ₹245.6 crore in Q4FY24.
The shares of NMDC declined by ₹1.91 or 2.63% in the opening hours of the day’s trade on Wednesday.
The company, in its Q4 results, which were announced yesterday, saw its revenue jump to ₹7,004.6 crore in Q4 FY25, exceeding the market estimate of ₹6,684 crore and up from ₹6,489 crore in the same period last year. Net profit reached ₹1,483.4 crore, up from ₹1,416 crore in Q4 FY24, just shy of the CNBC-TV18 poll estimate of ₹1,552 crore.
#CNBCTV18Market | Market opens flat, #Nifty above 24,800, #ITC in focus pic.twitter.com/LuJ4ucuc3I
— CNBC-TV18 (@CNBCTV18Live) May 28, 2025
Market Watch: Sudarshan Sukhani, Technical Trends
Buy Poonawalla Fincorp with a stop loss of ₹391
Buy Syngene International with a stop loss of ₹640
Buy Aarti Industries with a stop loss of ₹471
Buy Laurus Labs with a stop loss of ₹591
Market Watch: Mitessh Thakkar, Technical Analyst
Buy Container Corporation of India for a target price of ₹810 with a stop loss of ₹748
Buy Housing and Urban Development Corp for a target price of ₹250 with a stop loss of ₹235
Buy Manappuram Finance for a target price of ₹240 with a stop loss of ₹226.50
Sell Glenmark Pharmaceuticals for a target price of ₹1335 with a stop loss of ₹1410
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