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Stocks to Buy: 2 Tata Group Stocks that can deliver up to 40% returns
Indian equity markets opened higher on Friday, bucking the mixed global cues. The Sensex jumped 406.11 points, or 0.68 per cent, at 60,338.35, whereas NSE's Nifty50 rallied 90.20 points, or 0.51 per cent, at 17,700.60. Two Tata Group companies— Titan and Tata Consumer Products had declared their results and they will be key stocks to [...]
Multibagger bank stock jumps 9.94% after net profit increases 105%; Do you own it?
Mangaluru-headquartered private sector lender Karnataka Bank’s shares appreciated to the tune of 9.94% to reach an intraday high of ₹ 152.00 apiece on the National Stock Exchange (NSE) after it registered a growth of 105% in its net profit. Its shares were trading at ₹ 147.00 apiece at 12:30 PM on Friday. Karnataka Bank reported [...]
Small-cap stock in green after it receives an order of ₹ 130 cr from GAIL India
Likhitha Infrastructure Limited has received an order worth Rs.129.63 Crores from GAIL (India) Limited, for the Laying of the Cross-Country Pipeline along with associated facilities. The project is said to be completed within the next 14 months. Likhitha Infrastructure is engaged in the business of Pipeline Laying providing comprehensive erection, testing, and commissioning of Oil [...]
Chemical stock with high promoter holding gets a BUY call for an upside of 44%
Specialty Chemical manufacturer Vinati Organics shares were trading at Rs. 1878.50 apiece at 11:20 AM on Friday. This gives the company a market capitalization of Rs. 19,552 crore. Furthermore, it is one of the few large companies having a promoter shareholding of as much as 74%. Vinati Organics Ltd. is a renowned producer of specialty [...]
3 Stocks jump and hit upper circuit of 20% today; Check the details
On Thursday’s trading session, NIFTY closed at 5.9 points (0.033 %) lower than its opening value of 17,517.10 points. This comes one day after the center’s announcement of the Union Budget. Sensex closed in green, gaining 224.16 points (0.38 %) amid volatility, at 59,932.24 points. Today, these stocks hit the upper circuit in the trading [...]
3 Multibagger Debt Free Stocks to add to your watchlist; Do you own any?
While performing a fundamental analysis of stocks, it is important to look at the borrowings of the company. A debt-free company is generally categorized as a less risky investment option for its investors as they are less likely to go bankrupt. Along with it, the earnings of the company should also be considered to learn [...]
Adani stocks continue their fall and drop as much as 59% in a month; Check the latest details
The shares of Adani Group stocks extended their bloodbath on Thursday as well with various stocks hitting their lower circuit limits again. The shares of the group’s flagship company Adani Enterprises fell as much as 30% to hit their 52-week low of Rs 1,494.75 per share. Similarly Adani Power (down 5% to Rs 202.05), Adani [...]
FMCG stock hits 52 week high after a jump of more than 150% in its net profit
The shares of Britannia Industries Limited shined on Thursday’s session after it zoomed by more than 4 percent to reach a 52-week high of Rs 4,595 in the early hours. It gained after the FMCG giant posted robust results. In Q3FY23, Britannia reported a total revenue of Rs 4,247.55 Crore, an increase of 17 percent [...]
EV stock jumps 5% on robust sales and Q3 results, Here’s what analyst have to tell
The monthly vehicle sales of Ashok Leyland Ltd. rose by 37% year-on-year (y-o-y) in January 2023 to 16,198 units from 12,709 units in January 2022. The company provided its monthly business update to the stock exchanges yesterday. Ashok Leyland is the flagship company of the Hinduja Group. It is a leading Indian manufacturer of commercial [...]
ITC jumps 5% hits all-time high despite higher duty on cigarettes; Check experts view
The shares of cigarettes maker ITC Ltd. surged 6.45% to hit their all-time high of Rs 384.70 during Thursday's first half of the trading session. The stock of Kolkata-based tobacco manufacturer has generated an impressive return of over 65% in the last twelve months. This is in sharp contrast to the previous trading session when [...]
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SC stays further proceedings before high courts on pleas involving challenge to IT Rules or Cable TV Networks (Amendment) Rules.PTI ABA ABA RKS RKS
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Cooking gas (LPG) price hiked by Rs 50 per cylinder; to cost Rs 999.50 in Delhi. PTI ANZ MR MR
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Reliance Industries reports 22.5 pc rise in Q4 net profit; becomes 1st Indian company to hit $100 bn revenue in a year. PTI ANZ ABM ABM ABM
IPO Alert
Landmark Cars shares debut nearly 7% lower
Shares of automobile dealership chain Landmark Cars made a weak market debut on Friday, listing nearly 7 per cent lower against the issue price of Rs 506. The stock listed at Rs 471.30, a discount of 6.85 per cent on the BSE. It further dipped 11.76 per cent to Rs 446.45. At the NSE, the [...]
Radiant Cash Management IPO to open on Friday; sets price band at Rs 94-99 per share
Radiant Cash Management Services on Tuesday said it has fixed a price band of Rs 94 to Rs 99 a share for its Rs 388-crore initial public offering. The initial share-sale will open for public subscription during December 23-27, the company said in a statement. The IPO comprises fresh issue of shares worth up to [...]
Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO
Fintech player Zaggle Prepaid Ocean Services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The IPO (initial public offering) comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other [...]
IRM Energy files draft papers with Sebi; eyes up to Rs 700-cr via IPO
City gas distribution company IRM Energy Ltd has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 700 crore through an initial public offering (IPO). The IPO is a fresh issue of up to 1.01 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The Ahmedabad-based [...]
KFin Technologies IPO to open on Dec 19; sets IPO price band at Rs 347-366/share
Financial services platform KFin Technologies on Wednesday said it has fixed a price band of Rs 347-366 a share for its Rs 1,500-crore initial share sale, which will open for public subscription on December 19. The three-day initial public offering will conclude on December 21, and the bidding for anchor investors will take place on [...]
Dharmaj Crop Guard shares debut with 12% premium
Dharmaj Crop Guard made its market debut with a 12 per cent premium on Thursday against the issue price of Rs 237. The stock made its debut at Rs 266.05, a jump of 12.26 per cent from the issue price on the NSE. Later it zoomed 17.11 per cent to Rs 277.55. On the BSE, [...]
Top Editor’s Pick
4 Fundamentally strong stocks trading at a discount of more than 40%; Are you holding any?
Indian equity indices ended the week’s first trading session in the red territory. The BSE Sensex fell 334.98 points or 0.55% at end at 60,506.90 levels and NSE Nifty 50 closed 89.45 points or 0.50%lower at 17,764.60 levels. As the market sentiment remain weak, here are 4 fundamentally sound stocks trading at a discount of [...]
Multibagger stock turns ₹ 1 lakh to ₹ 71 lakhs in 3 yrs; Delivers 7000% returns
The Shares of Bombay Super Hybrid Seeds Limited have delivered 7,024% in just 3 years, as the share price has risen from Rs 8.9 in October 2020 to the current level of Rs 634 on the NSE. Established in the year 1983, Bombay Super Hybrid Seeds is a leading agriculture Sowing Seeds Company in India [...]
Time to Accumulate: 2 Blue chip stocks to BUY now for an upside potential of more than 30%
It is the last day of January and for many, it's ‘Salary Day’. With a paycheck in hand, existing investors look to diversify their portfolios while new investors enter the market to benefit from the rapid growth and exponential returns on their investments. Out of the multiple categories of stocks, Blue-chip stocks are considered a [...]
Multibagger Stocks held by Dolly Khanna that are undervalued; Do you own any?
Dolly Khanna, a Chennai-based investor is known for investing in lesser-known stocks that tend to outperform the market. In fact, many of them have generated multibagger returns. Here are a few undervalued multibagger stocks held by the ace investor: The price to earnings ratio of these stocks is lower than their industry average, indicating that [...]
Weekly Recap: Allegations of fraud on Adani Group, GTL Bank Scam, Q3 Results and More
Indian equity benchmarks BSE Sensex and NSE Nifty 50 opened higher on the first trading day of the week amid positive cues from global markets. Gains in financial and IT shares led the headline indices higher. The BSE Sensex started the week at 60876.01 points, while the NSE Nifty 50 was at 8118.45 points. The [...]
Why are Adani Stocks Falling? Here are some of the claims made by Hindenburg Research
Ahead of the ₹ 20,000 crores follow-on-public offer, the share prices of Adani Group companies suffered deep cuts. They were trading in the red, following a negative report by Hindenburg Research, an American short-selling firm, saying that it held short positions in the Indian group through US-traded bonds and non-Indian-traded derivative instruments. The shares of [...]
Latest Market News

Ethos Q3 Results: PAT rises over 60% YoY to Rs 20 crore
Luxury watch retailer Ethos Ltd on Friday said its profit after tax jumped more than 60 per cent to Rs 20.7 crore during the quarter ended December 2022. The company had registered a profit after tax (PAT) of Rs 12.1 crore in the third quarter of the previous fiscal, according to a statement. Its revenue [...]
ITC Q3 Results: Consolidated net profit rises 23% YoY to Rs 5,070
ITC Ltd on Friday reported a 23.09 per cent increase in its consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 31, 2022. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue [...]
Indian drug firm recalls eye drop linked to vision loss in US
Global Pharma Healthcare is recalling entire lots of eye drop linked to vision loss in the US, according to the US Food and Drug Administration. The Chennai-based company is recalling all lots of artificial tears lubricant eye drops distributed by EzriCare, LLC and Delsam Pharma to the consumer level due to possible contamination, the US [...]
Tube Investments Q3 Results: Consolidated profit at Rs 324.87 crore
Tube Investments of India Ltd, a manufacturer of precision steel tubes, has reported a consolidated profit at Rs 324.87 crore for the quarter ending December 31, 2022, the company said on Friday. The company, a part of the diversified conglomerate Murugappa Group, registered a consolidated profit at Rs 390.04 crore during the corresponding quarter last [...]
Our loans to Adani Group are secure: JK Bank
Jammu and Kashmir Bank, which has an exposure of nearly Rs 250 crore in the Adani Group, on Friday said the bank investors have nothing to worry as its loans to the embattled business group are secured. "Our loans to Adani Group are secured against the assets of the projects that were financed by JK [...]
India Cements to embark on refurbishment of old cement plants costing Rs 1,600 crore: MD
Cement maker The India Cements Ltd has drawn up plans to refurbish its old manufacturing facilities at an estimated outlay of Rs 1,500 to Rs 1,600 crore, its Vice Chairman and Managing Director N Srinivasan said on Friday. The funds to undertake the refurbishment would be met through internal accruals and the firm has roped [...]
TV Today Network Q3 Results: Consolidated net profit drops 55% YoY to 27.62 cr
TV Today Network Ltd on Friday reported a decline of 55.08 per cent in its consolidated net profit at Rs 27.62 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 61.50 crore in the October-December period a year ago, TV Today Network said in a BSE [...]
SBI’s overall exposure to Adani Group at Rs 27,000 cr, says Chairman
The country's largest lender SBI on Friday said its overall exposure to the Adani Group is at 0.88 per cent of the book or around Rs 27,000 crore. SBI chairman Dinesh Khara said the bank does not envisage the embattled ports-to-mining group facing any challenge to service its debt obligations and stressed that SBI has [...]
Bank of Baroda says reduced exposure to Adani Group in two years, no concern on asset quality
Public sector lender Bank of Baroda on Friday said it has reduced exposure to the embattled Adani Group entities over the last two years, and has no concerns on asset quality issues with the conglomerate. The bank's managing director and chief executive Sanjiv Chadha told reporters that the bank's overall exposure to the ports-to-media conglomerate's [...]
Proposal to tax income distribution in form of debt repayment to impact REITs attractiveness for unitholders
Embassy Office Parks REIT on Friday said the proposal to tax income distributed by business trusts in the form of debt repayments at the hands of unitholders has created some uncertainties in the market, and the industry is considering making a presentation to the government on the success of this investment vehicle. The proposal impacts [...]
SBI Q3 Results: Net profit jumps 62% YoY to Rs 15,477 crore
Country's largest lender State Bank of India on Friday reported a 62 per cent growth in its net profit at Rs 15,477 crore during the quarter ended December 2022. On a standalone basis, the lender's net post-tax profit grew to Rs 14,205 crore during the October-December 2022 period, which was up from Rs 8,432 crore [...]
Tata Power Q3 Results: Consolidated net profit nearly doubles to Rs 1,052 crore YoY
Tata Power on Friday said its consolidated net profit almost doubled to Rs 1,052.14 crore in the quarter ended December 2022 compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 551.89 crore in the quarter ended on December 31, 2021, a BSE filing showed. Total [...]
IndiGo Q3 Results: Profit jumps nearly 1000% YoY to Rs 1,422.6 cr
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel. The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period a year [...]
Sensex, Nifty jump over 1% on heavy buying in banking stocks
Equity benchmarks rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets. The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During the day, it jumped 973.1 points or 1.62 per cent to 60,905.34. The [...]
Budget FY24 focuses on growth with inclusion: NITI CEO Parameswaran Iyer
NITI Aayog CEO Parameswaran Iyer on Friday described the Budget 2023-24 as 'very comprehensive and balanced' which will promote growth with inclusion. He also observed that the Budget continues all the reforms and other social welfare programmes undertaken by the government over the past few years. Iyer further said the Budget has something for all, [...]
Liquor, fuel to cost more in Kerala; Vehicle tax, land fair price value to go up
Petrol, diesel and liquor are to cost more and motor vehicle tax and fair price value of land to go up in Kerala as the state government acted tough to mobilise additional revenue to carry forward their social security schemes and development programmes in the budget presented here on Friday. Despite wide expectations, the social [...]
Kansai Nerolac Paints Q3 Results: Consolidated net profit falls 13% YoY to Rs 108.97 cr
Kansai Nerolac Paints Ltd on Friday reported a 13 per cent decline in consolidated net profit at Rs 108.97 crore in the December quarter, impacted by higher expenses. The company had posted a consolidated net profit of Rs 125.32 crore in the year-ago period, it said in a regulatory filing. Consolidated revenue from operations during [...]
Stocks to Buy: 2 Tata Group Stocks that can deliver up to 40% returns
Indian equity markets opened higher on Friday, bucking the mixed global cues. The Sensex jumped 406.11 points, or 0.68 per cent, at 60,338.35, whereas NSE's Nifty50 rallied 90.20 points, or 0.51 per cent, at 17,700.60. Two Tata Group companies— Titan and Tata Consumer Products had declared their results and they will be key stocks to [...]
Market turmoil due to fall in Adani group shares ‘storm in tea cup’ from macro eco view point: Fin Secy
The stock market turmoil created by rout in Adani group shares is a "storm in a tea cup" from a macroeconomic point of view, finance secretary T V Somanathan said on Friday, emphasing that India's public financial system is robust. The senior most bureaucrat in the finance ministry also said that movements in the stock [...]
India imports 152.7 lakh ton fertilisers till Dec this fiscal: Govt
India imported 152.7 lakh tonne of fertiliser, including urea and P&K, till December of the current fiscal, Parliament was informed on Friday. Sharing data in his written reply to the Lok Sabha, Minister of State for Chemicals and Fertilisers Bhagwant Khuba said: "The country imported 62.44 lakh tonne of urea and 90.26 lakh tonne of [...]
Multibagger bank stock jumps 9.94% after net profit increases 105%; Do you own it?
Mangaluru-headquartered private sector lender Karnataka Bank’s shares appreciated to the tune of 9.94% to reach an intraday high of ₹ 152.00 apiece on the National Stock Exchange (NSE) after it registered a growth of 105% in its net profit. Its shares were trading at ₹ 147.00 apiece at 12:30 PM on Friday. Karnataka Bank reported [...]
Pakistan’s forex exchange reserves hit 10-year low
Pakistan's central bank said on Friday that its foreign exchange reserves have dropped by 16.1 per cent to USD 3.09 billion at the end of the last fiscal week, the lowest in nearly 10 years. Financial analysts said that the foreign exchange reserves held by the State Bank of Pakistan would cover just around three [...]
Govt sets up task force to promote SSP fertiliser
The government has set up a task force under the aegis of Fertiliser Association of India to find out ways to improve the quality of Single Super Phosphate (SSP) fertiliser and promote its use as an alternative to Di-ammonium Phosphate (DAP), Parliament was informed on Friday. In a written reply to the Lok Sabha, Minister [...]
BoB Q3 Results: Standalone net profit jumps 75% YoY to Rs 3,853 cr
Bank of Baroda (BoB) on Friday reported 75 per cent surge in standalone net profit at Rs 3,853 crore for the third quarter ended December 31, 2022 as bad loans declined. The state-owned bank had earned a net profit of Rs 2,197 crore in the year-ago period. Total income during October-December 2022 increased to Rs [...]
No immediate impact on Adani entities’ ratings following ‘short-seller’ report: Fitch Ratings
Fitch Ratings on Friday said there is no immediate impact on the ratings of Adani entities and their securities following a short-seller report alleging malpractices at Adani group. In a statement, the rating agency said it expects no material changes to its forecast cash flow. "There are also no near-term significant offshore bond maturities," it [...]
Moody’s says assessing financial flexibility of Adani Group
Moody's Investors Service on Friday said it is assessing overall financial flexibility, including liquidity position, of Adani Group firms given a significant and rapid decline in stock value post release of the Hindenburg Research report. "These adverse developments are likely to reduce the group's ability to raise capital to fund committed capex or refinance maturing [...]
Zydus Lifesciences Q3 Results: Consolidated net profit rises 24.48% YoY to Rs 622.9 cr
Zydus Lifesciences Ltd on Friday reported a 24.48 per cent rise in consolidated net profit at Rs 622.9 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 500.4 crore in the same period last fiscal, Zydus Lifesciences Ltd said in a regulatory filing. Consolidated total [...]
Multibagger stock with 252% returns in 6 mos announces a stock split
The board of Directors of Medico Remedies Ltd, a manufacturer & exporter of pharmaceutical Drugs, has approved a Stock Split of equity shares of the Company. In the meeting held on February 2nd, 2023 the board declared that it will split the shares in the ratio of 5:1. This means that One equity share of [...]
Small-cap stock in green after it receives an order of ₹ 130 cr from GAIL India
Likhitha Infrastructure Limited has received an order worth Rs.129.63 Crores from GAIL (India) Limited, for the Laying of the Cross-Country Pipeline along with associated facilities. The project is said to be completed within the next 14 months. Likhitha Infrastructure is engaged in the business of Pipeline Laying providing comprehensive erection, testing, and commissioning of Oil [...]
The India Cements Q3 Results: Consolidated profit of Rs 133 cr
The India Cements Ltd on Friday reported a consolidated net profit of Rs 133.29 crore for December quarter 2022-23, helped by gains from sales of its subsidiary Springway Mining Pvt Ltd (SMPL). The company had posted a net profit of Rs 16.24 crore in the year-ago period, it said in a regulatory filing. Revenue from [...]
Kamdhenu Q3 Results: Net profit grows 82% YoY to over Rs 12 cr
Steel maker Kamdhenu Ltd has posted an 82 per cent growth in its net profit during the December quarter at Rs 12.02 crore, on the back of increased revenues. The company had recorded Rs 6.6 crore net profit during October-December period of 2021-22 fiscal, Kamdhenu Ltd said in a statement on Friday. Its revenue from [...]
Midcap chemical logistics stock jumps 8.4% after reporting healthy Q3 results
LPG Importer and Handler Aegis Logistics’s shares zoomed 8.4% on Friday’s early trades to reach an intraday high of ₹ 388.80 apiece on the National Stock Exchange (NSE) after the company reported robust earnings. Its shares were trading at ₹ 338.55 apiece at 11:00 AM. The company reported a 71.88% increase in its consolidated revenue [...]
US Senator seeks removal of subsidies on wheat, rice in India
A powerful Republican Party Senator has urged the Biden administration to speak to the Indian government about the subsidies it gives to its wheat and rice growing farmers, which he claimed is against the norms of the World Trade Organization. “Rice and wheat farmers throughout the country are seriously impacted by India’s blatant WTO violations,” [...]
India among top three sources for active users growth on Facebook: Meta
India is among the top three nations contributing active users growth for Facebook as of December 31, 2022, social media major Meta said in a regulatory filing. The company has reported a 4 per cent increase in worldwide daily active users (DAUs) to 2 billion on average during December 2022 from 1.93 billion during December [...]
Adani Group firms fall for 7th day running; Adani Enterprises tumbles 20%
Shares of Adani Group firms continued to remain weak for the seventh day running on Friday amid a host of negative events surrounding the companies. The stock of Adani Enterprises tumbled 20 per cent to Rs 1,173.55 -- its one-year low -- on the BSE. Shares of Adani Ports tanked 10 per cent, Adani Transmission [...]
Chemical stock with high promoter holding gets a BUY call for an upside of 44%
Specialty Chemical manufacturer Vinati Organics shares were trading at Rs. 1878.50 apiece at 11:20 AM on Friday. This gives the company a market capitalization of Rs. 19,552 crore. Furthermore, it is one of the few large companies having a promoter shareholding of as much as 74%. Vinati Organics Ltd. is a renowned producer of specialty [...]
SIS Ltd Q3 Results: Net profit rises 3% YoY to Rs 103.4 cr
SIS Ltd on Thursday reported a 3 per cent increase in net profit to Rs 103.4 crore for the third quarter ended December 2022. The company -- which is into facility management, security and cash logistics -- had posted a net profit of Rs 100.6 crore in the corresponding quarter of 2021-22. On a sequential [...]
US body welcomes Indian budgetary proposal to reduce import tariffs on pecan
America’s National Pecan Federation has welcomed the annual budgetary proposal of Union Finance Minister Nirmala Sitharaman to reduce the import duty on pecan by 70 per cent, a move it said would benefit thousands of farmers in the country, especially in Georgia. “This is great news for the pecan industry,” Larry Don Womack, chairman of [...]
Very bullish on India: Apple CEO Tim Cook
Apple CEO Tim Cook has said he is “very bullish on India” and described the country as a major focus and "hugely exciting market” where the technology giant is putting a “significant amount of energy” through investments, retail and online presence. Apple on Thursday reported revenue of USD 117.2 billion for the December quarter and [...]
Adani Enterprises to be dropped from Dow Jones sustainability indices
S&P Dow Jones has said it will remove Adani Group's flagship firm Adani Enterprises from sustainability indices with effect from February 7 following a media and stakeholder analysis triggered by allegations of accounting fraud. The move comes amid leading stock exchanges BSE and NSE putting three Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic [...]
Markets rise in initial trade amid rally in US markets
Equity benchmarks climbed in initial trade on Friday amid a strong rally in the US markets and buying in banking counters. The 30-share BSE benchmark Sensex rose by 481.94 points to 60,414.18. The broader NSE Nifty advanced 118.05 points to 17,728.45. From the Sensex pack, IndusInd Bank, Titan, Bajaj Finance, HDFC Bank, Bajaj Finserv, ICICI [...]
Hindustan Construction Company Q3 Results: Net profit falls 9% YoY to Rs 25.19 crore
Hindustan Construction Company (HCC) on Thursday reported a 9.22 per cent decline in its December quarter net profit at Rs 25.19 crore. The company had clocked a net profit of Rs 27.75 crore in the year-ago period, according to a BSE filing. Its total income during October-December 2022 marginally rose to Rs 1,167.13 crore, compared with Rs 1,169.63 [...]
Allcargo Logistics concludes deal to sell part of its logistics parks biz to PE Blackstone
Allcargo Logistics on Thursday said it has concluded the deal to sell a part of its logistics parks business to global private equity giant Blackstone, making the company cash positive. Allcargo Logistics said this is in line with the agreement signed earlier, which has now been consummated with the signing of the share purchase agreement [...]
3 Stocks jump and hit upper circuit of 20% today; Check the details
On Thursday’s trading session, NIFTY closed at 5.9 points (0.033 %) lower than its opening value of 17,517.10 points. This comes one day after the center’s announcement of the Union Budget. Sensex closed in green, gaining 224.16 points (0.38 %) amid volatility, at 59,932.24 points. Today, these stocks hit the upper circuit in the trading [...]
Apollo Tyres Q3 Results: Consolidated net rises 30% YoY to Rs 292 crore
Apollo Tyres on Thursday said its consolidated net profit increased 30 per cent to Rs 292 crore for the December quarter, aided by robust sales in the domestic market. The company had reported a net profit of Rs 224 crore in the year-ago period. Revenue from operations rose 13 per cent to Rs 6,423 crore, [...]
Govt paves way for IFSC units to issue P-notes to foreign investors
With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish [...]
Redington Q3 Results: Standalone net profit at Rs 141.38 cr
Information technology solutions provider Redington Ltd has registered standalone net profit at Rs 141.38 crore for the quarter ending December 31, 2022, the company said on Thursday. The city-based company had registered standalone net at Rs 137.45 crore during corresponding period of last year. For the nine month period ending December 31, 2022 the standalone [...]
Tata Consumer Products Q3 Results: Consolidated profit rises 25.6% YoY to Rs 364 crore
Tata Consumer Products Ltd (TCPL) on Thursday reported a 25.63 per cent increase in consolidated net profit at Rs 364.43 crore for the December quarter. The company had posted a net profit of Rs 290.07 crore for the October-September period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a regulatory [...]
Mahindra Electric Mobility merges with parent Mahindra & Mahindra
Mahindra and Mahindra on Thursday said its electric vehicle unit has merged with it. Mahindra Electric Mobility Ltd (MEML) is now officially merged into the parent company, Mahindra and Mahindra Ltd (M&M), the auto major said in a statement. The company's Board had undertaken that MEML would merge into M&M with effect from April 1, [...]
Man Infraconstruction Q3 Results: Consolidated net profit rises 126% YoY
Man Infraconstruction on Thursday reported a 126.3 per cent jump in consolidated profit at Rs 90.60 crore for the quarter ended December 31, 2022. The company had posted consolidated profit of Rs 40.02 crore in the year-ago period, Man Infraconstruction said in a filing to BSE. The consolidated revenue from operations in the October-December period [...]
Sundram Fasteners Q3 Results: Standalone net profit at Rs 106.13 cr
Auto components maker Sundram Fasteners Ltd has registered standalone profit for the October-December 2022 quarter at Rs 106.13 crore, the company said on Thursday. The city-based firm had registered standalone net at Rs 103.34 crore during the corresponding quarter of previous year. For the nine-month period ending December 31, 2022, the standalone net surged to [...]
Coromandel International Q3 Results: Standalone PAT up by 42% YoY at Rs 539 cr
Coromandel International Ltd has reported standalone profit after tax at Rs 539 crore upby 42 per cent during the quarter ending December 31, 2022, the company said on Thursday. The city-based diversified conglomerate Murugappa Group company had registered standalone profit after tax at Rs 379 crore last year. Total income during the quarter under review [...]
Equities end on mixed note; global markets shrug off Fed rate hike
Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the NSE Nifty dipped almost 6 points in a see-saw session. The 30-share BSE benchmark Sensex advanced 224.16 points or 0.38 per cent to settle at 59,932.24. During the day, it hit a high of 60,007.67 and a low of [...]
3 Multibagger Debt Free Stocks to add to your watchlist; Do you own any?
While performing a fundamental analysis of stocks, it is important to look at the borrowings of the company. A debt-free company is generally categorized as a less risky investment option for its investors as they are less likely to go bankrupt. Along with it, the earnings of the company should also be considered to learn [...]
Adani stocks continue their fall and drop as much as 59% in a month; Check the latest details
The shares of Adani Group stocks extended their bloodbath on Thursday as well with various stocks hitting their lower circuit limits again. The shares of the group’s flagship company Adani Enterprises fell as much as 30% to hit their 52-week low of Rs 1,494.75 per share. Similarly Adani Power (down 5% to Rs 202.05), Adani [...]
Wheels India reports Q3 Results: Net profit at Rs 14.54 cr
Wheels India Ltd, a manufacturer of wheels for automobiles, has reported a net profit of Rs 14.54 crore for the quarter ending December 31, 2022, said the company on Thursday. The city-based firm registered a net profit at Rs 20.60 crore during the corresponding quarter last year. For the nine-month period ending December 31 ,2022, [...]
Mahindra Holidays & Resorts India Q3 Results: Consolidated loss after tax Rs 13.71cr
Mahindra Holidays & Resorts India Ltd on Thursday reported a consolidated loss after tax of Rs 13.71 crore in the December quarter, impacted by higher expenses and taxes. The company had posted a consolidated net profit of Rs 13.4 crore in the year-ago period, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory [...]
Dabur Q3 Results: Consolidated net profit falls 5.5% YoY to Rs 476.55 cr
Homegrown FMCG major Dabur India Ltd on Thursday reported a decline of 5.51 per cent in its consolidated net profit to Rs 476.55 crore for the third quarter ended December 2022. The company had posted a net profit of Rs 504.35 crore in the October-December quarter a year ago, Dabur India said in a regulatory [...]
Dr Lal PathLabs Q3 Results: Consolidated net profit falls 7% YoY to Rs 54 crore
Dr Lal PathLabs on Thursday said its consolidated profit after tax declined 7 per cent to Rs 54 crore for the December quarter. The company had reported a net profit of Rs 58 crore in the October-December quarter of the previous fiscal. Revenue also declined to Rs 489 crore for the period under review as [...]
Stock gets 50% upside even after 87% drop in net profits; Here’s why
Indian Oil Corporation Limited had revenue from operations at Rs 2,32,303.20 crore in Q3FY23, rising 16.51 percent from Rs 1,99,371. 75 crore in the year-ago quarter. However, it reported an 87 percent decline in its consolidated net profit at Rs 773.23 crore as against Rs 6,143.08 crore in the same period last year. The company [...]
Increased capex to create talent pool for engineering services industry: Axiscades
The increased capex allocation of Rs 10 lakh crore announced in the Union Budget will lead to the creation of the right talent pool for the engineering services industry, Axiscades Technologies said on Thursday. Finance Minister Nirmala Sitharaman tabled the Union Budget for 2023-24 in Parliament on Wednesday. "Enhancement in capital investment outlay to Rs [...]
Kalpataru Power Transmission bags orders worth Rs 2,456 cr
Kalpataru Power Transmission and its international subsidiaries have bagged new orders worth Rs 2,456 crore. These orders include residential and commercial buildings construction projects in the country worth Rs 1,427 crore and T&D (Transmission and distribution) business orders worth Rs 498 crore in India and overseas markets, a company statement said. In the domestic market, [...]
Godrej Properties Q3 Results: Consolidated net profit rises 51% YoY to Rs 58.74 crore
Realty firm Godrej Properties Ltd on Thursday reported a 51 per cent increase in its consolidated net profit to Rs 58.74 crore for the third quarter ended December 2022. Its net profit stood at Rs 39.02 crore in the year-ago period. The total income declined to Rs 404.58 crore in the third quarter of this [...]
Power Min says 39 hydro projects under implementation; 9 stalled
As many as 39 hydro projects totalling 14,623.5 MW capacity are under implementation in the country while nine out of these are stalled, Parliament was informed on Thursday. In a written reply to the Lok Sabha, Power Minister R K Singh said steps are being taken by developers/government for revival of the stalled projects. "39 [...]
FMCG consumption continues to decline with negative volume growth in Dec quarter: Report
The country's Fast-moving consumer goods (FMCG) industry witnessed a consumption slowdown in the December quarter, with an overall "negative" volume growth, as consumers continue to reel under inflationary pressure, says a report. According to the report released by data analytics firm NielsenIQ on Thursday, in October-December, the FMCG industry grew 7.6 per cent in terms [...]
FMCG stock hits 52 week high after a jump of more than 150% in its net profit
The shares of Britannia Industries Limited shined on Thursday’s session after it zoomed by more than 4 percent to reach a 52-week high of Rs 4,595 in the early hours. It gained after the FMCG giant posted robust results. In Q3FY23, Britannia reported a total revenue of Rs 4,247.55 Crore, an increase of 17 percent [...]
EV stock jumps 5% on robust sales and Q3 results, Here’s what analyst have to tell
The monthly vehicle sales of Ashok Leyland Ltd. rose by 37% year-on-year (y-o-y) in January 2023 to 16,198 units from 12,709 units in January 2022. The company provided its monthly business update to the stock exchanges yesterday. Ashok Leyland is the flagship company of the Hinduja Group. It is a leading Indian manufacturer of commercial [...]
FCI sells 8.88 lakh tonne wheat to bulk consumers on first day of e-auction
State-owned Food Corporation of India (FCI) has sold 8.88 lakh tonne of wheat to bulk consumers like flour millers on the first day of e-auction conducted in 22 states, the food ministry said on Thursday. FCI commenced e-auction of wheat on February 1 under Open Market Sale Scheme (OMSS) for bulk users in order to [...]
Cut in customs duty, support to MSMEs in Budget to help boost mfg, exports: Exporters
The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday. Increase in capital investment outlay by 33 per cent to Rs 10 lakh crore, 50 years interest free loan to states to incentivise infrastructure investment, highest-ever [...]
2 Jindal group stocks jump to reach a new 52-week high; Are you holding any?
After a volatile session on Wednesday on account of the Budget announcement, the Indian benchmark indices opened lower on Thursday. The NSE Nifty 50 Nifty fell 162.95 points or 0.92% to open at 17,517.10 levels and BSE Sensex slipped 408.92 points or 0.68% to 59,459.87. Despite weak market sentiments, here are 2 Jindal group stocks [...]
Religare Finvest case: Sebi orders attachment of bank, demat accounts of Shivi Holdings
Sebi on Wednesday ordered the attachment of bank and demat accounts of Shivi Holdings to recover Rs 5.35 crore in a matter related to fund diversion case of Religare Finvest. Religare Finvest Ltd (RFL) is a subsidiary of Religare Enterprises Ltd (REL). The recovery proceedings against Shivi Holdings have been initiated to recover Rs 5.35 [...]
ITC jumps 5% hits all-time high despite higher duty on cigarettes; Check experts view
The shares of cigarettes maker ITC Ltd. surged 6.45% to hit their all-time high of Rs 384.70 during Thursday's first half of the trading session. The stock of Kolkata-based tobacco manufacturer has generated an impressive return of over 65% in the last twelve months. This is in sharp contrast to the previous trading session when [...]
3-day G-20 Employment Working Group meet to begin in Jodhpur Thursday
The first G-20 Employment Working Group meeting will begin in Jodhpur Thursday afternoon to address priority labour, employment and social issues for sustainable, inclusive and job-rich growth. The first day of the three-day meeting will explore strategies for global skills, qualification harmonization, and developing a framework for common skill taxonomies. The panel discussion will be [...]
Budget 2023 to give lot of support to India’s startup ecosystem: Goyal
Measures announced in the Budget such as extending the period of incorporation of eligible budding entrepreneurs for providing tax incentives, would provide a lot of support to further strengthen the country's startup ecosystem, Commerce and Industry Minister Piyush Goyal has said. The government on Wednesday proposed to extend the period of incorporation of eligible startups [...]
Adani Enterprises shares tank 15%; most group firms also fall
Shares of Adani Enterprises tumbled 15 per cent in morning trade on Thursday, a day after the firm said it has decided not to go ahead with its Rs 20,000-crore Follow-on Public Offer (FPO) and will return the proceeds to investors. The stock tanked 15 per cent to Rs 1,809.40 on the BSE. Other group [...]
Kalyani Group’s promoter pays Rs 3 lakh to settle case with Sebi
Baba Kalyani, promoter of Kalyani Group, has settled a case of an alleged violation of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of BF Utilities Ltd with market regulator Sebi on payment of Rs 3 lakh. BF Utilities is a subsidiary of the Kalyani Group. The settlement came after Babasaheb Neelkanth [...]
Adani Enterprises calls off fully subscribed FPO, to return money to investors
Adani Enterprises on Wednesday said it has decided not to go ahead with its Rs 20,000-crore Follow-on Public Offer (FPO) and will return the proceeds to investors. The announcement comes a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday. "The Board of Adani Enterprises Ltd., (AEL) [...]
Markets fall in early trade; bounce back later
Equity benchmarks fell in initial trade on Thursday, but later bounced back to trade in the positive territory, amid firm global market trends and foreign fund inflows. The 30-share BSE benchmark Sensex had fallen 492.46 points to 59,215.62 in early trade. The broader NSE Nifty declined 170.35 points to 17,445.95 in initial trade. However, later [...]
Removal of customs duty on import of camera lens, some inputs right steps but no major impact on phone prices: ICEA
Industry body ICEA on Wednesday said removal of duty on imports of camera lens and some other inputs as proposed in the Budget are steps in the right direction but will have no significant impact on the final price of phones. The cost impact on mobile phone's Bill of Material (BoM) will be 0.16 per [...]
Budget provisions will boost country’s industrial development: MP industry bodies
Industry bodies in Madhya Pradesh on Wednesday said the Budget 2023-24 provisions will boost the country's industrial development. Finance minister Nirmala Sitharaman tabled the Union Budget in Parliament on Wednesday. "The government has proposed a capital fund of Rs 10 lakh crore for infrastructure development and Rs 2.40 lakh crore for railways, which will give [...]
Mukesh Ambani is richest Asian as Adani tumbles out on Hindenburg row
Ports-to-energy tycoon Gautam Adani has tumbled on the world's top billionaire ranking and is no longer the richest Asian or Indian. Rival business magnate Mukesh Ambani, who was richest Indian before Adani's eye popping gains in company stock prices catapulted him to top spot in April last year, has regained that position. Adani, who ranked [...]
Insurance stocks lose up to 10% after budget, check out why?
Insurance stocks nose-dived after the budget session on Wednesday on the back of demand concerns. The shares of HDFC Life Insurance closed 10.79% lower on the bourses. Similarly, the shares of SBI Life Insurance Co. dropped by 8.61% to close at Rs 1,114.50. The stock of the nation’s largest life insurer Life Insurance Corp. of [...]
Civil aviation ministry gets Rs 3,113.36 cr allocation in Union Budget
The allocation for the civil aviation ministry in the Union Budget has more than halved to Rs 3,113.36 crore for next financial year, especially due to a sharp reduction in the amount set aside for Air India Asset Holding Ltd. For 2022-23, the revised allocation is Rs 9,363.70 crore which is lower than Rs 10,667 [...]
Markets end on mixed note on Budget day; Sensex climbs 158 points, Nifty slips 46 pts
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday after Finance Minister Nirmala Sitharaman raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade in Budget 2023-24. Investors also awaited the US Federal Reserve's interest [...]
Industry welcomes duty cut for lab-grown diamonds raw material
The budget proposals aimed at encouraging the production of lab-grown diamonds (LGD) including an import duty cut for the raw material will help create a self-reliant diamond industry, industry representatives said on Wednesday. The budget presented by Finance Minister Nirmala Sitharaman addressed a major concern of the LGD industry regarding the 5 per cent import [...]
India’s skilling ecosystem to be expanded; stipend support to 47 lakh youth in next 3 yrs: Sitharaman
India's digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform, Finance Minister Nirmala Sitharaman announced on Wednesday, with the Budget laying the roadmap to train lakhs of youth in the next three years. Presenting the Union Budget for 2023-24, Sitharaman said stipend support will be provided [...]
Adani Stocks in trouble after they crash upto 30% in single day
Amid the broad news around Union Budget 2023, the shares of Adani Group firms extended their blood bath falling up to 30% on Wednesday. This is despite the fact that Adani Enterprises cleared the hard test of FPO by receiving a 100% subscription. As of 15:00 IST, the flagship Adani Enterprises was down a whopping [...]
Stock ends in green after announcing Q3 and corporate action
The shares of Shree Ganesh Remedies Ltd ended the volatile session on Tuesday and ended marginally higher at Rs 254.50 levels. The shares remained in focus after the company announced its Q3 results and corporate action. The company reported a 6 percent jump in its total revenue which stood at Rs 23.39 Crore in Q3FY23, [...]
Budget: Rs 1,258.68 crore earmarked for Union cabinet, ministers’ salaries, travel, sumptuary
The Union budget for 2023-24 has allocated Rs 1,258.68 crore for various heads of expenditure of the Union cabinet, including salaries, sumptuary and travel by ministers and entertainment of foreign state guests. The amount includes the expenditure for the Prime Minister's Office (PMO), the National Security Council Secretariat, the office of the Principal Scientific Advisor [...]
Kerala FM slams Union Budget for ignoring state’s demands
Kerala Finance Minister K N Balagopal on Wednesday criticised the Union Budget 2023-24 saying the long-pending demands of the southern state were completely ignored and that the proposals were not beneficial for people at the grassroots level. Addressing a press conference here, he pointed out that allocations in major schemes including Mahatma Gandhi National Rural [...]
Total investment by IREDA, SECI pegged 37% higher at Rs 37,828 cr for FY24
Total investment by two public sector enterprises under Ministry of New & Renewable Energy is pegged 37 per cent higher at Rs 37,828.15 crore for 2023-24. This is compared with revised estimate (RE) of Rs 27,547.47 crore total investment by the two firms -- IREDA and SECI -- for 2022-23. The budget estimate was Rs [...]
Sitharaman announces Urban Infra Development Fund with annual Rs 10k-cr allocation
A Urban Infrastructure Development Fund (UIDF) will be set up to ramp up infrastructure in tier-2 and tier-3 cities with an annual allocation of Rs 10,000 crore, Union Finance Minister Nirmala Sitharaman announced Wednesday. Presenting the Union Budget 2023-24, Sitharaman said states will be encouraged to leverage resources from the grants of the 15th Finance [...]
Bank stocks down upto 8% after rising before budget session
NIFTY Bank index closed 0.35% down or around 142 points to 40,513 points on Wednesday. The finance minister Nirmala Sitharaman presented the Union Budget 2023 in the parliament today. This comes as a surprise because the banking majors had surged during the early hours of trading. In early morning trades, the benchmark bank index jumped [...]
Budget announces host of measures to enhance business in IFSC
To enhance business activities in GIFT IFSC, Finance Minister Nirmala Sitharaman on Wednesday announced a host of measures, including establishing a subsidiary of EXIM Bank for trade re-financing and allowing acquisition financing by IFSC Banking Units of foreign banks. Besides, she proposed an amendment to International Financial Services Centres Authority (IFSCA) Act for statutory provisions [...]
Govt expects dividend of Rs 48,000 cr from RBI, PSU banks in FY24
The government expects 17 per cent higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks and financial institutions in 2023-24. In current financial year ending March, it aims to garner Rs 40,953 crore from RBI and public sector financial institutions. This is much lower compared to Budget Estimate [...]
Govt raises non-tax revenue collection target from telecom by 30% to Rs 89,469 cr
The government has raised non-tax revenue collection estimate from the telecom sector by 30 per cent to Rs 89,469.17 crore in 2023-24, according to the Union budget document. The government has revised the revenue estimate to Rs 68,784 crore for the current fiscal from earlier projection of Rs 52,806 crore in the previous budget. The [...]
Infrastructure development capex hiked by 33% to Rs 10 lakh crore for 2023-24: FM
Finance Minister Nirmala Sitharaman on Wednesday announced hiking the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP. Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment. [...]
Tata Motors total vehicle sales rise to 81,069 units in January
Tata Motors on Wednesday reported a 6.4 per cent growth in total vehicle sales at 81,069 units in January. In the year-ago period, the company's total vehicle sales stood at 76,210 units. Domestic vehicle sales were up 10 per cent at 79,681 units in the previous month over 72,485 units in 2022, Tata Motors said [...]
Mahindra & Mahindra total sales grow 37% to 64,335 units in January
Auto major Mahindra & Mahindra (M&M) Ltd on Wednesday posted a 37 per cent growth in total vehicle sales at 64,335 units in January. It had registered a total sales of 46,808 units in January 2022. The total passenger vehicles sale was up 65 per cent at 33,040 units compared to 19,646 units sold in [...]
Multibagger stock jumps 13% to reach a new 52-week high after posting a 209% jump in profits
The shares of Apar Industries Limited opened at Rs 1,770 levels and zoomed by 13 percent to reach a new 52-week high of Rs 1,999.90 in the early hours of the Budget day. In the past three sessions, the stock has gained more than 35 percent. In Q3FY23, the company reported consolidated total revenue from [...]
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