Wed, Feb 14, 2024 2:42 PM
Midday Mood | Markets at day's high, Nifty above 21,600
A Flip by Shubhangi Gupta
Silver prices fell 0.04% to ₹90,781 per kilogram on Thursday ahead of the US Federal Reserve's interest rate decision, with global prices down 0.21% at $31.27 per ounce. The Fed's expected rate cut could drop silver prices, but strong Indian demand could drive imports up to 6,500-7,000 tonnes and push prices to $40 per ounce by the end of the financial year.
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Emkay Global Financial downgrades Hindalco to SELL from Reduce, citing a disappointing outlook from Novelis, which has withdrawn its EBITDA/t guidance due to concerns over scrap spreads and China's liberalization of scrap imports. Emkay cuts Novelis's EBITDA/t estimate to USD477 from USD501 for FY25.
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About 13.7 lakh shares of Trent Ltd, representing a 0.4 percent equity stake in the company were traded in a block deal on Thursday for Rs 881.7 crore. The shares were exchanged at Rs 6,445 each. Trent stock was trading at Rs 6,484.95 per share on the NSE, down 6.76 percent at 3 pm. The shares of the company fell over 9 percent intraday on missing the September earnings estimates.
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