Asian share markets struggled to find traction today while US and European equity futures slumped as a downbeat revenue forecast from Microsoft Corp. added to risk aversion in global markets.

The Nikkei is trading up by 0.5% while the Hang Seng is trading higher by 1.8%. The Shanghai Composite is up 0.8%.

The S&P 500 ended nominally lower on Tuesday at the close of a rocky session, marked by a raft of mixed earnings and a technical malfunction at the opening bell.

The Dow Jones ended higher by 0.3% while the tech-heavy Nasdaq Composite ended lower by 0.3%.

Here's a table showing how US stocks performed yesterday:

Source: Equitymaster

Back home, Indian share markets are trading on a weak note, following the trend on SGX Nifty and tracking weak global cues.

At present, the BSE Sensex is trading lower by 558 points. Meanwhile, the NSE Nifty is trading lower by 172 points.

Maruti Suzuki and Asian Paints are among the top gainers today.

SBI and IndusInd Bank are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading lower by 1.2% and the BSE Small Cap index is trading lower by 0.9%.

Sectoral indices are trading on a negative note. Stocks in the banking sector, energy sector, and telecom sector witness selling.

Shares of Jindal Stainless hit their 52-week high today.

The rupee is trading at Rs 81.53 against the US dollar.

In the commodity markets, gold prices trade lower by Rs 100 at Rs 56,869 per 10 grams.

Meanwhile, silver prices are trading lower by 0.2% at Rs 68,378 per 1 kg.

Speaking of stock markets, Andrew Holland's unique approach to investing helped his firm avoid losses in the great financial crisis, and then later during the peak pandemic scare in March 2020.??

The key behind these big calls? Get a global perspective...and when you don't know, you exit. He does not like to lose money. This is called active investing.?
 

Relaxo Footwears share price under pressure

In the past few years, the stock market has seen the emergence of a lot of multi-baggers. There have been stocks that have gone up 5x, 10x, and even 20x in some cases in recent years.

One of the most popular of these has of course been the footwear brand, Relaxo Footwears.

The growth in the company's share price over the last couple of decades is nothing less than extraordinary.

But are the valuations running ahead of fundamentals now? More importantly, is the 2x premium in valuations over HUL justified?

Also, it appears Relaxo Footwear's golden period is over. The company's share price has seen a steep downfall.

Recently, Relaxo Footwears was in the headlines after ace investor Saurabh Mukherjea dumped Relaxo Footwear and bought a stake in a Tata group stock.
 

Why Adani group shares are falling today

Adani group stocks are the biggest movers in the stock market today. Most Adani group shares are falling.

The selloff comes after Bloomberg reported a US activist firm Hindenburg Research LLC taking a short position on the group stocks.

Reportedly, Hindenburg has accused the Adani group of market manipulation and accounting fraud. At the time of posting this, the Adani Group had yet to respond to these allegations.
 

Triveni Engineering and Industries Q3 results

Yesterday, Triveni Engineering and Industries declared its consolidated quarterly figures for the quarter that ended 31 December 2022.

The company's net sales stood at Rs 16.6 billion (bn) (about Rs 1,658.7 crore) in December 2022 up 48.7% from Rs. 11.2 bn in December 2021.

It reported a quarterly net profit of Rs. 1,472.7 m in December 2022 up 13.2% from Rs. 1,301.2 m in December 2021.

Its earnings before interest, tax, depreciation, and amortization (EBITDA) stand at Rs. 2.3 bn in December 2022 up 9.9% from Rs. 2.1 bn in December 2021.

The company's earnings per share (EPS) has increased to Rs. 6.1 in December 2022 from Rs. 5.4 in December 2021.

In the board meeting held yesterday, the board members approved further capex of Rs 900 m for sugar business group and Rs 100 m capex for power transmission operations.

Did you know that Triveni Engineering and Industries is one of the top 5 sugar companies in India by growth?
 

Rail Vikas Nigam bags a new order

Rail Vikas Nigam bags order worth Rs 384 m from Southern Railway.

The company has received a letter of award for the provision of automatic block signaling with dual MSDAC, EI/OC interface, and block optimization in Arakkonam Junction-Nagari section of Chennai division in Southern Railway

Apart from this, the company also had recently entered into two memoranda of understanding (MoU) with two private companies namely Bengaluru MMLP and Chennai MMLP.

The two joint venture companies are formed after the MoU signed with the National Highways Authority of India (NHAI) in September 2021 for the construction of multi-modal logistics parks (MMLP) across the country under the Bharatmala Pariyojana.

Rail Vikas Nigam is one of the 5 penny stocks with a good dividend yield.
 

Pidilite Industries quarterly update

Pidilite Industries, parent of adhesive brand Fevicol, on Tuesday, reported a surprise 15% fall in quarterly profit, hit by higher input costs and weak demand.

Rising inflation has forced cash-strapped consumers in rural markets and smaller towns and cities to tighten budgets as they struggled to recover from the economic impact of COVID-19.

The Mumbai-based company's consolidated net profit fell to Rs 30.4 bn rupees in the quarter that ended 31 December 2022.

The construction chemicals maker's consolidated revenue from operations rose 5.2% to Rs 29.9 bn, its slowest growth in nine quarters. Revenue in the year-ago quarter was inflated by price hikes.

Pidilite, known for its synthetic resin adhesive Fevicol and waterproofing product Dr. Fixit, reported a 4.7% rise in the cost of raw materials. Meanwhile, demand in rural and semi-urban areas remains under strain.

Revenue from the consumer and bazaar segment, which sells adhesives, craft materials, and construction and paint chemicals to retail users, grew 6.9%. This segment accounts for 80% of the company's revenue.

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