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Infra stock jumps after company to raise ₹1000 Cr via QIP
In Friday’s trading session, the shares of one of the leading Infrastructure companies in India specialised in providing comprehensive solutions across the power, transportation, urban infrastructure sector and more jumped upto 2.15 percent following the approval to raise capital of Rs. 1,000 crores through QIP . Price action With a market capitalization of 20,873 Crores [...]
Infra stock hits upper circuit after receiving order worth ₹265 Cr from Western Railway
This Microcap stock which is engaged in the business of Infrastructure Development and Solar Power generation hit a 2 percent upper circuit after the company received an order from Western Railway worth Rs. 264.39 crore. Price Action With a market capitalization of Rs. 397.63 Crores, the shares of Madhav Infra Projects Limited were up by [...]
Stocks with net profit CAGR of up to 58% to hold for the next 3 years
We have identified a set of mid-cap stocks with strong growth potential that have recently experienced a correction, making them attractive buying opportunities for long-term investors. To compile this list, we analyzed the stocks' 5-year sales and profit compound annual growth rates (CAGR), providing a clear picture of consistent performance. Additionally, we considered key valuation [...]
Solar stock held by BlackRock in focus after company to set up solar module facility in Telangana
Solar energy stock held by BlackRock, engaged in manufacturing and supplying integrated solar cells and solar panels, along with providing EPC Solutions related to in focus following approval to set a 1GW TOPCon Module facility in Telangana. Price Action With a market capitalization of Rs. 58,634 Crores, the shares of Premier Energies Limited were trading [...]
Smallcap stock jumps 14% after receiving LOI from State Government for online examination
This Smallcap stock which is engaged in the business of non-formal education and business training in the country with a global presence is up 14% after the company received an LOI from a State Government Body to conduct a computer-based online examination. Price Action With a market capitalization of Rs. 1,151.29 Crores, the shares of [...]
Defence stock jumps 7% after receiving ₹255 Cr order from Min. of Defence
This Smallcap defence stock which is engaged in the business of design, development and manufacture of sub-systems for Radio Frequency and microwave systems up 7% after the company received an order worth Rs. 255.88 crores from the Ministry of Defence. Price Action With a market capitalization of Rs. 8,075 Crores, the shares of Astra Microwave [...]
2 Stocks jump after signing share purchase agreement worth up to ₹70 Mil
Indian benchmark indices midday session on December 13 with Nifty around 24,730.95. In the second trading session, the Sensex is up 699.44 points or 0.86 percent at 81,989.40, and the Nifty is up 194 points or 0.75 percent at 24,730.95. Here are the stocks that jumped after signing of shares purchase agreement:- Prime Securities Ltd [...]
Midcap bank stock to buy now for an upside of more than 50%
The banking sector in India is currently facing liquidity challenges, with higher interest rates, inflationary pressures, and tight liquidity impacting banks' ability to lend efficiently. Despite these challenges, the banking and financial system remains the backbone of India's economy, facilitating capital flow, supporting businesses, and driving growth across sectors. Both private and public sector banks [...]
Auto ancillary stock jumps after its subsidiary signed share purchase agreement worth €37 Mil.
The shares of the leading auto components manufacturer gained up to 1 percent after the company’s subsidiary has signed a Share Purchase Agreement worth € 37.74 million. With a market capitalization of Rs 32,161.86 crore, the shares of Endurance Technologies Ltd were trading at Rs 2,286.45 per share, decreasing around 0.14 percent as compared to [...]
IT stock jumps after acquiring 50% stake in Walnut AI Pte for expansion
In Friday’s trading session, the shares of one of the leading IT companies in India specialised in providing SCF technology and Digital Lending Solutions to their customers are in focus after acquiring 50 percent stake in Walnut AI Pte. Ltd to expand and strengthen its business. Price action With a market capitalization of 1,547.27 Crores [...]
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Sensex tumbles 323.34 points to end at 58,340.99; Nifty drops 88.30 points to 17,415.05. PTI MKJ ABM ABM
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Cabinet decides to extend additional free 5-kg foodgrains scheme by four months till March 2022: Union Minister Anurag Thakur. PTI LUX MJH NKD MKJ
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India to release about 5 mn barrels of crude oil from its emergency stocks in tandem with other major economies to cool prices: Official. PTI ANZ ANZ ANU ANU
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Kotak Bank Q1 Results: Net rises 26% on fall in bad loans, record margins
Private sector lender Kotak Mahindra Bank on Saturday reported a 26 per cent rise in net income at Rs 2,071.15 crore in the June quarter, buoyed by record margins and a decline in bad loans. On a consolidated basis, the city-headquartered financial services group, which is also into life and non-life insurance, share broking, asset [...]
ICICI Bank Q1 Results: Consolidated net profit jumps 55% on lower provisions, strong core income
ICICI Bank on Saturday reported a 55.04 per cent jump in its June quarter consolidated net profit to Rs 7,384.53 crore, helped by a sharp reduction in provisions and the core interest income continuing to be strong. On a standalone basis, the second-largest private sector lender reported a net profit of Rs 6,904.94 crore against [...]
Yes Bank Q1 Results: Net profit rises 50%
Yes Bank on Saturday reported 50 per cent increase in net profit at Rs 311 crore for June quarter 2022-23 on fall in provisions for bad loans, and healthy income growth. The bank had clocked a net profit of Rs 207 crore in the year-ago period, it said in a regulatory filing. Total income during [...]
Karnataka Bank Q1 Results: Net profit rises 8% to Rs 114 cr
Karnataka Bank on Saturday reported nearly 8 per cent increase in net profit at Rs 114 crore for June quarter 2022-23 helped by a growth in core income and fall in bad loans. The private sector lender had posted a net profit of Rs 105.91 crore in the year-ago period. Total income during April-June 2022-23 [...]
Banks likely to lose Rs 11,790 cr in Q1 on bond rally: Report
Banks are unlikely to take a big hit on profitability this quarter due to rising bond yields, which may eat up 5.3 per cent (Rs 11,790 crore) of their net income in the worst-case scenario, according to a report. In the worst-case scenario, banks may see a profit erosion of 2.6 per cent of their [...]
Persistent Systems Q1 Results: Net profit rises 40% to Rs 211 cr
Mid-size information technology company Persistent Systems on Friday reported a 40 per cent jump in its June quarter net profit to Rs 211.6 crore. The Pune-headquartered company reported a 52.7 per cent rise in its revenue to Rs 1,878 core. Its chief executive Sandeep Kalra said the company is not very worried about the macro [...]
Reliance Jio Q1 Results: Net profit rises 24% to Rs 4,335 cr as tariff hikes boost realisation
India's largest telecom operator Reliance Jio Infocomm on Friday reported a nearly 24 per cent rise in its June quarter net profit to Rs 4,335 crore as tariff hike and improved subscriber mix boosted revenues and realisation. Billionaire Mukesh Ambani-led Reliance Jio clocked revenue from operations of Rs 21,873 crore in the just-ended quarter, which [...]
Reliance Retail Q1 Results: Pre tax profit up over two fold to Rs 3,897 crore, revenue up 53.7%
Reliance Retail on Friday reported over two-fold jump in pre-tax profit at Rs 3,897 crore for June 2022 quarter, led by higher contribution from fashion & lifestyle and consumer electronics business. The retail arm of Reliance Industries Ltd (RIL) said it had posted a pre-tax profit or EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) [...]
Union Bank of India to mop up Rs 1,320 cr by issuing bonds
Union Bank of India on Friday said it will raise Rs 1,320 crore next week by issuing bonds on a private placement basis. The bank said it has accepted bids of Rs 1,320 crore in an issue of Rs 2,100 crore with a base issue size of Rs 600 crore and a green shoe option [...]
Dolly Khanna Portfolio: Ace investor buys stake in these multibagger stocks
Dolly Khanna, a Chennai-based investor is known for investing in small-cap stocks that tend to generate very good returns in the long term. A good number of retail investors stay updated about the changes in her portfolio. She has invested in the shares of Chennai Petroleum Corporation Ltd., Manali Petrochemicals Ltd. and National Oxygen Ltd. [...]
JSW Steel Q1 Results: Consolidated net profit falls 85%
JSW Steel on Friday posted over 85 per cent fall in its consolidated net profit at Rs 839 crore during the June 2022 quarter, mainly on account of higher expenses. The company's profit stood at Rs 5,900 crore during the April-June period of the preceding 2021-22 fiscal, JSW Steel said in a regulatory filing. However, [...]
HDFC AMC Q1 Results: Profit after tax declines 9% to Rs 314 cr
HDFC Asset Management Company (AMC) on Friday reported a 9 per cent decline in profit after tax at Rs 314.2 crore in the three months ended June 2022. In comparison, the asset management firm had posted a Profit After Tax (PAT) of Rs 345.4 crore in the year-ago period, HDFC AMC said in a regulatory [...]
Markets extend gains for 6th day; Sensex reclaims 56k mark
Benchmark indices rallied on Friday with the BSE Sensex climbing over 390 points to settle above the 56,000-mark amid fresh buying by foreign funds and largely positive global market trends. Intense buying in banking and finance counters also drove the indices higher. Rising for the sixth straight session, the 30-share BSE benchmark jumped 390.28 points [...]
3 Auto Stocks touch their 52-week high; Analysts targets suggest more upside left
Experts say that fresh buying in auto stocks, especially M&M, Tata Motors, Hero Motocorp and Maruti Suzuki led to a surge in the Nifty auto index. The index is at 12,649.10 points, very close to its lifetime high of 12,660 levels. The Nifty Auto Index has generated alpha returns as compared to the returns of [...]
UltraTech Q1 Results: Consolidated net profit falls 7%; Net sales rise 28%
Aditya Birla group firm UltraTech Cement on Friday reported a decline of 6.94 per cent in its consolidated net profit at Rs 1,582.02 crore in the June 2022 quarter, impacted by inflationary trends. The company had posted a net profit of Rs 1,700.03 crore in the April-June period a year ago, UltraTech Cement said in [...]
Can Zomato go down even more? Few more stocks that might be under sell-off risk
Zomato Limited was listed on the bourses on 23rd July 2021. This means that the one-year lock-in period for the employees and others will end on July 23, 2022. Analysts have cautioned investors that there is a sell-off risk in the stock in the short to medium term which can drive the share price southwards. [...]
Fertilizer and Chemical stock rallies more than 14%; Do you own?
The shares of Gujarat State Fertilizers&Chemicals Ltd (GSFC) opened at Rs 154 on the last trading session of the week. Till 12.30 pm the stock price has risen by more than 14% and was trading at Rs 162 levels. The spike is mainly because their consolidated net profit soared by more than 14.19% to Rs [...]
JSW Energy Q1 results: Net profit surges 179%
JSW Energy on Thursday said its net profit jumped 179 per cent to Rs 560 crore in the June quarter, mainly on the back of higher revenues. "Profit After Tax (PAT) stood at Rs 560 crore, which was 179 per cent higher YoY (year on year) compared to a PAT of Rs 201 crore in [...]
Emami acuires 30% stake in a pet care startup Cannis Lupus Services
Leading FMCG company Emami on Thursday announced to acquire a 30 per cent stake in a pet-care startup Cannis Lupus Services India for an undisclosed amount. Cannis Lupus Services India offers Ayurvedic remedies for pets under the brand "Fur Ball Story". It uses a wide range of plants and herbs to formulate its medicines, said [...]
Rupee rises 20 paise to close at 79.85 against US dollar
The rupee recovered from its all-time low of 80.06 to close 20 paise higher at 79.85 (provisional) against the US dollar on Thursday following overall weakness in crude oil prices and fresh foreign fund inflows. At the interbank forex market, the local unit opened lower at 80.03 against the greenback and fell further to an [...]
Hindustan Zinc Q1 Results: Consolidated net profit rises 56%
Hindustan Zinc Ltd (HZL) on Thursday reported a 55.9 per cent rise in consolidated net profit at Rs 3,092 in the June quarter, mainly on the back of higher metal prices. The company had posted consolidated net profit of Rs 1,983 crore in the first quarter of the previous fiscal, it said in a filing [...]
RBL Bank Q1 Results: Standalone net profit at Rs 201 cr as provisioning falls
RBL Bank on Thursday reported a net profit of Rs 201.16 crore on a standalone basis for the quarter ended June as a fall in bad assets helped slash the provisioning requirements. There was a net loss to the tune of Rs 459.47 crore in the same quarter a year ago. Compared sequentially, the net [...]
PCBL Q1 Results: Consolidated net profit up 21%
RP Sanjiv Goenka group's carbon black major PCBL Ltd on Thursday said it registered a 21 per cent jump in consolidated net profit to Rs 126 crore for the first quarter period ended June 2022, compared to corresponding period profit of Rs 104 crore posted in the previous year. The revenue for the quarter was [...]
Rakesh Jhunjhunwala invests more than Rs 300 cr in this Auto Stock
Big Bull of the Indian stock market Rakesh Jhunjhunwala has added a total of 18,30,388 shares of Escorts Kubota Ltd which represents a stake of 1.39% in the company with an investment value of Rs 316.5 Crores as per the latest filing for the June quarter. Last quarter i.e, March 2022, the ace investor had [...]
ITC crosses ₹300, does the stock have more upside? Check Analysts Targets
The shares of ITC Limited have crossed the ₹ 300 mark for the first time in three years! The FMCG major’s shares extended the rally to hit a fresh 52-week high of ₹ 302.20, after hitting a one-year high of ₹ 299.50 apiece on Wednesday. At the company’s AGM (annual general meeting), ITC Chairman & [...]
Syngene International Q1 Results: Profit after tax slips 4% to Rs 74 cr
Contract manufacturing services firm Syngene International on Wednesday reported a 4 per cent decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore in the April-June quarter of last fiscal. Its revenue from operations rose to Rs 644 crore [...]
Analysts give a BUY call to 3 Blue Chip stocks that hit their 52 week high
Indian stock markets rallied on Wednesday, tracking positive global cues. They extended the recent streak of gains to the fourth day. There were gains across sectors as strong earnings in the US helped investors take their minds off concerns about slowing growth due to steep hikes in COVID-era interest rates. Here are three blue-chip stocks [...]
Shriram Properties Q1 sales bookings rises 26% to Rs 313 crore
Shriram Properties Ltd on Wednesday reported a 26 per cent growth in its sales bookings at Rs 313 crore for the June quarter on better demand and low base effect. The Bengaluru-based company, in a statement, said that its sales bookings in volume terms rose 20 per cent to 0.66 million square feet in the [...]
Analysts give a BUY call to Reliance and ONGC; Check the targets
Following a decline in international rates, the government on Wednesday slashed the windfall tax on petrol diesel, jet fuel and crude oil. According to the notifications released by the finance ministry, the government has slashed a ₹6 per litre tax on the export of petrol. The tax on diesel has been reduced from ₹13 per [...]
ITC will continue to deliver robust growth: Puri
Diversified conglomerate ITC Limited on Wednesday said that the company will continue to deliver robust growth despite key concerns such as inflation. Speaking at the company's AGM virtually, CMD of ITC Sanjiv Puri said that in the FMCG space, the firm has nurtured 25 brands and the newer ones will garner an annual consumer spend [...]
Penny Stocks that gave multibagger returns of more than 100% in a month
A good number of stocks have given multibagger returns in the past two years. This happened mainly after the share prices of companies plunged during the pandemic and rose exorbitantly during the rally in 2021. However, here are a few stocks that have astonished many investors by giving multibagger returns in just one month: PC [...]
Govt cuts windfall tax on petrol, diesel, jet fuel, crude oil
The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It scrapped a Rs 6 a litre tax on export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4. Besides, the tax on diesel has been [...]
HDFC sells shares of Ansal Housing to recover dues
Mortgage lender HDFC Ltd on Tuesday said it has sold a portion of the shares of Ansal Housing which it had acquired by way of invocation after the housing construction company failed to pay its loan dues. Details about HDFC's loan exposure to Ansal were not provided. On June 16, Housing Development Finance Corporation (HDFC [...]
Canara Bank raises Rs 2,000 cr by issuing Basel III compliant bonds
Canara Bank on Tuesday said it has raised Rs 2,000 crore by issuing Basel III compliant additional tier I bonds this month. The bank came out with the issuance of Rs 2,000 crore of additional tier-I bonds on July 15, 2022. "The bank received total bid amount of Rs 5,719 crore, out of which full [...]
GST on daily use items: Sitharaman says decision taken with all states onboard
Facing criticism over GST on daily use items, Finance Minister Nirmala Sitharaman on Tuesday said the 5 per cent tax is being levied on wheat flour and other items after nod from all states, including non-BJP ruled states. Non-BJP ruled states of Punjab, Chhattisgarh, Rajasthan, Tamil Nadu, West Bengal, Andhra Pradesh, Telangana and Kerala had [...]
Manali Petro inks pact with UK-based Econic Tech to make eco-friendly polyols
Manali Petrochemicals Ltd, manufacturer of polyols and part of the AM International Group, Singapore has signed a commercial agreement with United Kingdom-based Econic Technologies to manufacture eco-friendly polyols, the company said on Tuesday. The agreement further strengthens the MPL-Econic partnership and the tie-up would offer significant upside across MPL's business value chain. The innovative technology [...]
TV18 Broadcast Q1 Results: Consolidated net profit down 63%, revenue up 9.5%
Media firm TV18 Broadcast Ltd on Tuesday reported a 63.05 per cent decline in its consolidated net profit to Rs 60.02 crore for the first quarter ended on June 30, 2022. The company had posted a net profit of Rs 162.44 crore for the April-June period of the previous fiscal, TV18 Broadcast said in a [...]
Polycab India Q1 Results: Profit after tax surges 202%
Wire and cable manufacturer Polycab India on Tuesday reported a surge of 201.91 per cent in its profit after tax to Rs 222.54 crore during the first quarter of FY23. In the corresponding quarter of FY22, the company's PAT (Profit After Tax) stood at Rs 73.71 crore, Polycab India said in a statement. Revenue from [...]
5 Stocks that will start trading ex dividend this week; Do you hold any of them?
Dividends have been a passive source of income for many people. Many investors make money from dividends even when stocks are trading sideways or are showing a downtrend. Here is a list of companies that are about to pay dividends this week: Hindustan Zinc Limited Ex-dividend date: 20-07-2022Dividend Type: InterimDividend per share: ₹ 21Face Value: [...]
Jio adds over 31 lakh mobile users in May: TRAI data
Reliance Jio cemented its lead in the Indian telecom market as it gained over 31 lakh mobile subscribers in May, as per data released by the sector regulator on Tuesday. Sunil Mittal-led Bharti Airtel added 10.27 lakh subscribers in May, taking its mobile user tally to 36.21 crore. According to monthly subscriber data by Telecom [...]
HDFC Life Q1 Results: Net profit jumps 21% to Rs 365 cr
HDFC Life on Tuesday reported 21 per cent increase in net profit at Rs 365 crore for the first quarter of current fiscal year. The company had reported Rs 302 crore profit in April-June 2021-22. The total premium rose 21 per cent to Rs 9,396 crore during the quarter as compared with Rs 7,656 crore [...]
DCM Shriram Q1 Results: Consolidated net profit up 61%
DCM Shriram Ltd on Tuesday reported a 61 per cent increase in its consolidated net profit at Rs 253.96 crore for the quarter ended June on higher income. Its net profit stood at Rs 157.87 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 2,999.90 crore in the first [...]
Multibagger stock with 680% returns to consider bonus issue on August 1st
The shares of G K P Printing & Packaging Ltd were trading at Rs 28 a piece a year ago. In the early trading session of Monday, the stock reached its 52-week high of Rs 226 thereby giving a multibagger return of more than 680% in a year. On Tuesday, till 11:30 am the stock [...]
Shiprocket acquires Arvind’s omnichannel tech biz Omuni for Rs 200 cr
Tech-enabled logistics startup Shiprocket has acquired textile company Arvind's omnichannel technology business Omuni for about Rs 200 crore in a mix of cash and equity deal, the company said on Tuesday. The deal comes about a month after Shiprocket acquired a majority stake in logistics firm Pickrr for USD 200 million in a mix of [...]
Ashish Kacholia increases his stake in this smallcap multibagger stock; Do you own it?
A year ago, the shares of Faze Three Ltd were trading at Rs 153. Today, the stock is trading at Rs 320 levels, thereby giving a multi-bagger return of more than 108% to its shareholders. On Monday, however, the stock didn't show much momentum and closed at Rs 312. Over the past month, the stock [...]
Ola to invest USD 500 million to set up battery innovation centre in Bengaluru
Ola Electric on Monday announced the investment of USD 500 million for setting up its state-of-the-art Battery Innovation Centre (BIC) in Bengaluru. BIC will be one of the world's largest and most advanced cell R&D facilities with more than 165 "unique and cutting-edge" lab equipment to cover all aspects of cell related research and development, [...]
HeidelbergCement India Q1 Results: Net profit falls 25%
HeidelbergCement India on Monday reported 24.82 per cent decline in net profit at Rs 51.61 crore for June quarter 2022-23, impacted by an increase in operating cost. The company had reported a net profit of Rs 68.65 crore in April-June period a year ago, said HeidelbergCement in a BSE filing. However, revenue from operation increased [...]
Reliance Jio submits an earnest money deposit of Rs 14,000 crore ahead of 5G auction
India's largest telecom operator Reliance Jio Infocomm has submitted earnest money deposit (EMD) of Rs 14,000 crore ahead of its participation in 5G auction, while Bharti Airtel has put in Rs 5,500 crore. According to the list of pre-qualified bidders posted on the telecom department's website, the EMD amount of Adani Data Networks stands at [...]
Sensex, Nifty climb over 1% amid firm global market trends
Benchmark stock indices Sensex and Nifty spurted over 1 per cent at close on Monday following buying in IT, oil and gas and banking shares bolstered by firm global trends. Rising for a second straight session, the 30-share BSE Sensex rallied 760.37 points or 1.41 per cent to settle at 54,521.15. During the day, it [...]
EPFO likely to enhance investment limit in equities to 20%
Retirement fund body EPFO is likely to approve this month a proposal to enhance its investments in equites to up to 20 per cent of the investible deposits from the current limit of 15 per cent. The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on [...]
Is HDFC coming up with 2 IPOs? What are HDFC Bank’s plans after the merger?
Sashidhar Jagdishan, CEO and MD, HDFC Bank, said that they are considering initial public offering (IPO) plans for HDFC Securities and HDB Financial Services. However, the plans depend on the merger process of HDFC Bank with HDFC Limited. HDFC Bank and HDFC Limited announced a USD 40 billion merger in April, this year. This was [...]
Prestige Group sales bookings jump 4 fold to Rs 3,012 cr
Realty firm Prestige Estates on Monday reported over four-fold jump in its sales bookings at Rs 3,012 crore during the first quarter of this fiscal year on better demand and lower base effect. The sales bookings stood at Rs 733.9 crore in the year-ago period, which was badly hit by the second wave of the [...]
Yes Bank plans to invest Rs 350 cr in JC Flowers; raise USD 1 bn core capital in FY23
Yes Bank will invest up to Rs 350 crore for a potential 20 per cent stake in asset reconstruction company JC Flowers, which has emerged as the base bidder for the lender's bad loans worth Rs 48,000 crore. The private sector lender is planning to raise up to USD 1 billion in FY23 to bolster [...]
Porsche India sales up two folds at 378 units in first half of 2022
Luxury carmaker Porsche India on Monday reported an over two-fold jump in sales at 378 units in the first half of 2022. The company had posted sales of 173 units in January-June period last year. The arrival of Porsche's all-electric Taycan and a strong desire for SUVs carried the momentum through the first half of [...]
Adani Wilmar cuts prices of edible oil by up to Rs 30 per litre
Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon. On February 7, Mother Dairy, [...]
Tech Stock jumps 18% as board to consider buyback of shares
The shares of Quick Heal Technologies Ltd surged more than 18% till 12.30 pm and were trading at Rs 197 levels. The shares opened at Rs 189.55 as against their previous close of Rs 166. In the last month, the stock has added more than 36% as compared to the which has gained only 2.86%. [...]
Pre packed, labelled cereals, pulses, flour weighing more than 25kg exempt from 5% GST: FinMin
Single packages of unbranded pre-packed and labelled food items like cereals, pulses and flour weighing in excess of 25 kg are exempt from 5 per cent GST levy. The Central Board of Indirect Taxes and Customs on Sunday late night issued FAQs clarifying various doubts and said only pre-packed items up to 25 kg will [...]
Top Stock Picks: 5 stocks to BUY for an upside of more than 40%
Benchmark indices opened on a positive note today. The Sensex was up 446.07 points or 0.83% at 54206.85, and the Nifty was up 139.70 points or 0.87% at 16188.90. The broader markets also opened in green. Amid the rising markets, here are some of the stocks recommended by brokers for an upside of up to [...]
Weekly Recap: Tata planning 2 new IPOs, Tesla has new challengers and more!
Benchmark indices ended flat with a negative bias on Monday. The BSE Sensex fell 87 points or 0.16% and settled at 54,395 and the NSE Nifty 50 settled at 16,216 points, down 4 points. However, they settled in the green on Friday. The BSE Sensex ended 345 points higher and the Nifty 50 reclaimed the [...]
Upcoming Q1 results this week; Ambuja Cements, ICICI bank, Wipro and more!
The earnings season is here. Indian companies are coming up with their quarterly results. The first quarter is the period between April to June of the Financial year 2022-23. Here is the list of companies that are set to publish their quarterly earnings in the coming week. 18th July On Monday watch out for the [...]
ICICI Prudential Life Q1 Results: Net Profit at Rs 156 cr on moderating trend in pandemic related claims
ICICI Prudential Life on Saturday reported Rs 156 crore net profit in the April-June quarter of this financial year amid a moderating trend in the pandemic-related claims and provisions. The company had reported a net loss of Rs 186 crore in the year-ago quarter. Assets under management grew 3.1 per cent to Rs 2,30,072 crore. [...]
Will think on IPOs of HDFC Sec, HDB Fin Services after merger with HDFC: HDFC MD
HDFC Bank will be looking at the public listing of its brokerage and non-bank finance company subsidiaries only after its merger with parent HDFC Ltd goes through, a top official said on Saturday. Answering shareholder queries at the 28th annual general meeting of the largest private sector lender, its chief executive and managing director Sashidhar [...]
Bank of Baroda to raise Rs 1,000 cr debt capital
Bank of Baroda will raise Rs 1,000 crore debt capital by issuing long-term bonds to cater to the financing requirement in the infrastructure sector. The lender has received approval from its Investment Committee in a meeting held on Saturday. "The Investment Committee of the Bank of Baroda in its meeting held on July 16, 2022 [...]
Sebi files FIR in cyber security incident; no sensitive data lost
Capital markets regulator Sebi on Saturday said it has lodged a complaint against a cyber security incident noticed on its e-mail system but maintained that no sensitive data was lost. Recently, a cyber security incident has been noticed on the e-mail system of the Securities and Exchange Board of India (Sebi) which was undergoing a [...]
HDFC Bank Q1 Results: Net profit jumps 21% to Rs 9,579 crores
Largest private sector lender HDFC Bank on Saturday reported a 20.91 per cent jump in its June quarter net profit at Rs 9,579.11 crore on the back of overall growth. On a standalone basis, its net profit increased to Rs 9,195.99 crore from Rs 7,729.64 crore in the year-ago period, but was down from Rs [...]
HDFC Securities sees a 90% upside in this stock that Rakesh Jhunjhunwala sold
HDFC Securities has a buy call on the shares of NCC Limited, a company in which Rakesh Jhunjhunwala recently sold a portion of his stake. The big bull had a 12.8% stake in NCC Limited in the quarter ending March 2022. However, he sold about 0.4% of his stake and he currently owns a 12.5% [...]
Torrent Power to seek shareholders nod for raising Rs 2,000 cr
Torrent Power on Friday said it will seek shareholders' approval for raising up to Rs 2,000 crore through issuance of non-convertible debentures ( NCDs). The company is holding its annual general meeting on August 8. "The company seeks the Members’ approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall [...]
Just Dial Q1 Results: Consolidated loss widens to Rs 48.36 crore
Local search platform Just Dial on Friday recorded widening of consolidated loss to Rs 48.36 crore in the first quarter ended June 30, 2022. The company had posted a loss of Rs 3.52 crore in the same period a year ago. "Net loss stood at Rs 48.3 crore. This was driven by other income which [...]
Sri Lanka’s spiralling economic crisis dents its lucrative tourism industry
Sri Lanka, a popular destination for holidaymakers, should be teeming with tourists at this time of year. Instead, an unprecedented economic crisis and political turmoil have all but wreaked its tourism with about 40 per cent of the pre-bookings being cancelled recently. Tourism accounts for about 5 per cent of Sri Lanka's Gross Domestic Product [...]
FinMin seeks industry views on changes in monthly GST payment form
The finance ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15. The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs and suggestions of the stakeholders. [...]
Multibagger Stock: This Jewellery stock has surged more than 100% in a month!
Multibagger Stock: The shares of PC Jeweller Limited zoomed 9.97% on Friday’s early trades and got locked at an upper circuit. Moreover, they have reached a fresh 52-week high of ₹ 47.45 apiece. The shares have rallied by a whopping 56.86% in the past week. This means that if investors would have invested ₹ 1,00,000 [...]
2 Adani Group stocks shine as they hit their 52 week high today
Till the afternoon of Friday's trading session, the Nifty 50 was trading higher by 14.5 points or 0.09% at 15,953. The BSE Sensex gained 37.06 points or 0.06% and was at 53,455.53. With markets trading in the green, here are two Adani group stocks that have reached a fresh 52-week high today. Adani Enterprises Ltd [...]
Yes Bank to form ARC with JC Flowers to sell Rs 48,000 cr of bad loans
Yes Bank has selected JC Flowers ARC as partner to form an asset reconstruction company to sell bad loans of the bank valuing Rs 48,000 crore. The lender said it has signed a binding term sheet with JCF ARC LLC and JC Flowers Asset Reconstruction Pvt Ltd (JF Flowers ARC) for strategic partnership in relation [...]
Corporate funding in global solar sector falls 11% to USD 12 bn: Mercom Capital
The corporate funding in the global solar sector has declined by 11 per cent year-on-year to USD 12 billion in January-June 2022, a Mercom Capital report released on Friday said. Corporate funding includes venture capital and private equity (VC), debt financing, and public market financing. "Total corporate funding (including venture capital funding, public market, and [...]
Federal Bank Q1 Results: Net profit jumps 64%
Federal Bank on Friday posted about 64 per cent jump in net profit at Rs 600.66 crore for June quarter of financial year 2022-23. The private sector lender had logged a net profit of Rs 367.29 crore in year-ago period. In the previous March quarter, the bank's net profit was Rs 540.54 crore. Total income [...]
4 Tata Group stocks that are trading at a discount from their 52 week high
The border indices opened in green on the last trading session of the week. The Sensex was up 280.27 points or 0.52% at 53696.42, and the Nifty was up 84.30 points or 0.53% at 16023. Amid the volatility in the market, here are some of the Tata group stocks that have fallen the most and [...]
India ad market to expand by 16% in 2022, become fastest growing: Report
The Indian advertising market is forecast to grow by 16 per cent in 2022 to reach USD 11.1 billion (Rs 88,639 crore), becoming the fastest growing market globally, a report said on Thursday. This would lead to over 14.5 per cent growth by TV and 31.6 per cent on the digital side, said Dentsu Global [...]
Adani group, partner win tender for privatization of Israeli port
Adani group Chairman Gautam Adani on Thursday said the group has won the tender for privatization of a port in Israel in partnership with Gadot. "Delighted to win the tender for privatisation of Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations,” Adani said in a tweet. [...]
Bank credit grows by 13.29%, deposits by 9.77%
Bank credit grew by 13.29 per cent to Rs 123.81 lakh crore and deposits by 9.77 per cent to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed. In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, [...]
ACC Q1 Results: Consolidated net profit down 60%, sales up 15%
Cement maker ACC Ltd on Thursday reported a 60.07 per cent decline in consolidated net profit at Rs 227.35 crore in June 2022 quarter, due to rise in fuel costs and related inflationary impacts. The company, which follows January-December financial year, posted a profit of Rs 569.45 crore in April-June 2021, ACC said in a [...]
Bharti Airtel allots 1.2% equity shares to Google for Rs 5,224 crore
Telecom operator Bharti Airtel on Thursday said it has allotted over 7.1 crore equity shares to internet major Google for Rs 734 apiece. The allotment is part of Google's commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs 5,224 crore, Airtel said in [...]
Nippon India Mutual Fund invests ₹144 crores in this wellness stock
The shares of Zydus Wellness Limited quoted 2.94% higher on Thursday’s deals. According to the bulk data available with the National Stock Exchange, Nippon India Mutual Fund A/C, Nippon India Small Cap Fund bought 9,36,218 shares of the company at a price of ₹ 1540.00 apiece on Wednesday. The value of the transaction was ₹ [...]
Domestic coal prices to remain high in current quarter as well: Icra
Rating agency Icra on Thursday said it expects prices of domestic coal to remain high in the ongoing quarter as well given the supply challenges of the dry fuel during monsoon. The domestic e-auction premium on coal increased by over 400 per cent in May, thereby adversely impacting the cost structure of the base metal [...]
L&T Infotech Q1 Results: Consolidated net profit rises 27.6%
IT company Larsen and Toubro Infotech on Thursday posted a 27.6 per cent increase in consolidated net profit at Rs 633.5 crore in the first quarter ended June 30, 2022. It had registered a profit of Rs 496.3 crore in the same period a year ago, the company said in a regulatory filing. "We are [...]
Sensex, Nifty slide for 4th day; IT, banking shares drop
Benchmark indices Sensex and Nifty gave up early gains to close lower for a fourth straight session on Thursday due to selling in IT and banking shares amid weak global equities. The 30-share BSE benchmark settled 98 points or 0.18 per cent lower at 53,416.15. During the day, it hit a high of 53,861.28 and [...]
Liquidity stress eases for Vedanta Resources: S&P
S&P Global Ratings on Thursday said liquidity stress has reduced for Vedanta Resources Ltd as the company has addressed a large part of its debt maturities for the ongoing financial year. The rating agency also said that while Vedanta Resources still has some funds to raise, it has sufficient cash at its cash-rich India operating [...]
Maha govt cuts VAT on petrol & diesel; state exchequer to incur burden of Rs 6,000 cr: CM Shinde
Maharashtra government has decided to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday. The decision, to be implemented from Thursday midnight, would entail a burden of Rs 6,000 crore on the state exchequer. It will benefit [...]
Bank fraud: ED arrests 4 in money laundering case against Surana Group
The Enforcement Directorate on Thursday said it has arrested four people, including two promoters of Chennai-based Surana group, in a money laundering case linked to a reported Rs 3,986 crore worth bank loan fraud. Dinesh Chand Surana and Vijay Raj Surana, both managing directors cum promoters of Surana Industries Limited, Surana Power Ltd and Surana [...]
Top Stock Pick: BUY this steel stock for an upside of more than 80%
ICICI Securities in its research report dated July 12, 2022, has upgraded the shares of Jindal Stainless Limited (JSL) from ‘hold’ to ‘buy’. Further, it has given a target price of ₹ 200 apiece on the share, implying an 83.07% upside as compared to the current market price of ₹ 109.25. Jindal stainless steel is [...]
PE inflows into proptech firms rise to USD 741 mn in 2021: Report
Private equity investments in proptech firms rose 35 per cent to USD 741 million last year as investors sought to tap huge opportunities amid rising use of technology in the realty sector, Housing.com said. Proptech firms that are providing solution in sales and marketing, and construction management got 69 per cent of the total funds. [...]
Stocks to watch: 4 Stocks in which Dolly Khanna has increased her stake
Chennai-based investor Dolly Khanna has entered two new stocks and has increased her stake in two stocks. Her portfolio is mostly managed by her husband Rajiv Khanna, who usually stays tilted toward traditional stocks in the manufacturing, textile, chemicals and sugar sectors. Chennai Petroleum Corporation Ltd. (CPCL) The ace investor has bought a 3.3% stake [...]
Infosys to acquire Denmark based BASE life science for Rs 875 crore
Infosys on Wednesday said it will acquire Denmark-based BASE life science for about 110 million euros (Rs 875 crore) in an all-cash deal. The acquisition will deepen Infosys' expertise in life sciences domain as well as strengthen its footprint across Europe. "This acquisition augments Infosys' deep life sciences expertise, and expands our footprint further in [...]
Ace Investor Mukul Agarwal reduces stake in these 3 companies
Mukul Agrawal is an ace investor in the Indian stock market. He entered the market in the late 1990s. He is popularly known to have invested in many small-cap and penny stocks which have become multibagger. As per the latest corporate shareholdings filed, The ave investor Mukul Agrawal publicly holds 52 stocks with a net [...]
Cigarette sales set to rise 5-6 % to surpass pre Covid level this fiscal: Report
Domestic cigarette manufacturers are on course to record higher volume growth than the pre-pandemic levels at 5-6 per cent this fiscal, despite smuggled in cigarettes chipping away a good volume, a report said on Wednesday. Rating agency Crisil said it expects the volume to go past 93 billion sticks this year on the back of [...]
India slaps notice on Oppo for Rs 4,389 cr import duty evasion
Chinese phone maker Oppo's India unit has been slapped with a notice for alleged Rs 4,389 crore import duty evasion, the Finance Ministry said on Wednesday. A show-cause notice has been slapped on Oppo India on July 8 after recovery of documents during searches on its premises that indicated wilful misdeclaration in the description of [...]
Sensex, Nifty fall for 3rd day on selling in oil, banking & IT shares
Benchmark equity indices Sensex and Nifty reversed their early gains to close lower on Wednesday due to selling in oil & gas, banking and IT stocks amid weak trends in European markets. The 30-share BSE Sensex declined by 372.46 points or 0.69 per cent to close at 53,514.15, extending its falling streak to a third [...]
Passenger vehicle dispatches rise 19% in Jun as chip supply improves
Passenger vehicle wholesales in India rose by 19 per cent year-on-year in June on the back of improvement in semiconductor supplies, according to industry body SIAM. As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) dispatches to dealers stood at 2,75,788 units last month against 2,31,633 units [...]
Realty firm Signature Global files Rs 1,000 cr IPO papers with Sebi
Realty firm Signature Global (India) Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO). The IPO will comprise a fresh issue of equity shares worth up to Rs 750 crore and an Offer for Sale (OFS) of up to Rs 250 crore, according [...]
India textile, handicraft exports at record USD 44 billion in FY22: Official
India exported textiles and handicrafts worth more than USD 44 billion -- an all-time high -- last financial year, Textiles Secretary U P Singh said on Tuesday. He was speaking at an industry event in Greater Noida which was inaugurated by Union Minister of State for Textiles and Railways Darshana Vikram Jardosh. Jardosh, while inaugurating [...]
Retail inflation eases to 7.01% in Jun; above RBI comfort level for 6th straight month
Retail inflation dropped marginally to 7.01 per cent in June mainly due to slight easing in prices of vegetables and pulses, though it remained above the Reserve Bank's comfort level for the sixth month in a row. The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May [...]
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