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Markets settle lower for 7th day

Benchmark indices failed to hold on to early gains and ended lower for the seventh straight session on Thursday, with the BSE Sensex declining over 188 points amid mixed global market trends. Even after rallying in early trade, the 30-share BSE benchmark fell 188.32 points or 0.33 per cent to settle at 56,409.96. During the [...]

Rupee rises 13 paise to close at 81.80 against US dollar

The rupee consolidated in a narrow range and settled 13 paise higher at 81.80 against US dollar on Thursday, ahead of the RBI monetary policy decision scheduled to come out on Friday. At the interbank forex market, the local unit opened at 81.60 against the greenback. It witnessed an intra-day high of 81.58 and a [...]

4 Cement stocks recommended by analysts that have huge potential upside

Cement stocks have been on the roll for quite some time now. Many regions in India saw a surge in the cement price in early September which will have a positive impact on the margins of these companies. As the country is ready to transition from the monsoon season to the winters, Analysts remain optimistic [...]

Govt defers proposal to make 6 airbags mandatory in cars by one year to Oct 1, 2023: Gadkari

The government has deferred the implementation of the proposal to make six airbags mandatory in passenger cars by one year to October 1, 2023, Road Transport and Highways Minister Nitin Gadkari said on Thursday. The government had earlier planned to make six airbags mandatory in eight-seater vehicles for enhanced safety of occupants from October 1, [...]

5G penny stock in big trouble as Indus tower asks to Clear dues or lose tower access

India’s third largest telecom service provider, Vodafone Idea (Vi) may lose access to towers from November if it fails to repay dues to Indus Towers. In a big jolt to Vodafone Idea, the latter has issued a stern warning. Over 25 crore users could be affected if Vi fails to pay the dues.  Indus Towers [...]

Buy this EV stock for a potential upside of up to 45%; Chola Wealth

The shares of Amara Raja Batteries Limited have declined marginally and were trading at Rs 485 levels in the early hours on Thursday. In the past five days, the share has shed approximately 5 percent.  The company recently announced its plan for backward integration. It has brought forward a scheme of arrangement that will involve [...]

Markets rebound in early trade amid recovery in global equities

Benchmark indices rebounded in early trade on Thursday with the BSE Sensex climbing 567.86 points amid recovery in global equity markets. The 30-share BSE benchmark jumped 567.86 points to 57,166.14 after a firm beginning. Similarly, the broader NSE Nifty climbed 167.45 points to 17,026.05. Among the 30-share Sensex pack, Tata Steel, ITC, IndusInd Bank, NTPC, [...]

Stocks jumps 10% as Chairman of the company resigns

The shares of Dish TV India Ltd have been on an uptrend for the last two days. On Monday the shares rallied by approximately 10 percent after the company announced that its Chairman and Director, Jawahar Lal Goel tendered his resignation from the board of the company.  On Tuesday, the shares continued to rise and [...]

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NEWSALERT

Adani Power consolidated net profit jumps to Rs 4,645.47 crore in March quarter from Rs 13.13 crore in the year-ago period. PTI KKS RAM

NEWSALERT

Global steel giant ArcelorMittal reports over 80 pc jump in net income to USD 4,125 million in March quarter. PTI ABI ABI ANU ANU

NEWSALERT

Government sees no case for any control on wheat exports: Food Secretary. PTI LUX BAL

IPO Alert

Utkarsh Small Finance Bank files fresh draft papers; cuts IPO size

Utkarsh Small Finance Bank has refiled preliminary papers with capital market regulator Sebi and reduced its initial public offering (IPO) size to Rs 500 crore from Rs 1,350 crore planned earlier. The company filed the paper afresh as the regulator's one-year approval given to the Varanasi-headquartered small finance bank (SFB) to launch IPO expired last [...]

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 [...]

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 [...]

GSP Crop Science plans Rs 500 crore IPO next year

Agro-chemical firm GSP Crop Science Pvt Lt is looking to launch a Rs 500-crore IPO (Initial Public Offering) by next year, according to its managing director Bhavesh Shah. The company, which needs funds for expansion of its business operation, plans to soon file a draft red herring prospectus with capital markets regulator Sebi, he said. [...]

Startup funding declines 40% in April-June: PwC report

Geo-political instability appears to be taking a toll on the Indian startups with the total funding declining by 40 per cent to USD 6.8 billion in the April-June quarter, reveals a PwC India report. The early-stage deals comprised more than 60 per cent of the total with an average ticket size of USD 5 million, [...]

Concord Enviro Systems files IPO draft papers with Sebi

Concord Enviro Systems, an environmental engineering solutions firm, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 35,69,180 equity shares by promoters and an investor, according to the draft red herring [...]

Top Editor’s Pick

3 Fundamentally strong midcap stocks to add to your watchlist; Do you own any?

Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended in the red for the 7th straight session on the day on Thursday. The BSE Sensex fell 188 points or 0.3 per cent to end at 56,410, while NSE Nifty 50 slipped 40.50 points or 0.24 per cent to settle at 16818.  Here are [...]

Stock jumps 9% as company plans to allot shares to the President of India 

The shares of ITI Limited, a public sector undertaking zoomed more than 9% on the National Stock Exchange (NSE). At 11:57 AM it was trading at ₹ 111.70 apiece.  ITI Limited is a Government of India undertaking that is engaged in manufacturing, trading and servicing telecommunication equipment and rendering other associated and ancillary services. It [...]

BUY this Midcap maharatna stock for an upside of 80%; ICICI Securities

ICICI Securities is bullish on the shares of Bharat Heavy Electricals Limited (BHEL), a mid-cap Maharatna company.  The company’s shares were trading at ₹ 55.15 apiece at 11:35 AM on Tuesday. In its research report dated September 22, 2022, the brokerage has maintained a buy call on the shares, with a target price of ₹ [...]

TCS hits a 52 week low of ₹ 2,926. Should you buy, sell, or hold? 

IT stocks are reeling under selling pressure. The Nifty IT index hit a 52-week low of 26,186.70, falling below its previous low of 26,189.40 points, touched on July 15, 2022.  Homegrown technology major, Tata Consultancy Services (TCS), shares hit a 52-week low of ₹ 2,926.10, during morning trades on Monday amid heavy volumes. Later the [...]

Top Stock Picks: 8 Stocks to BUY for an upside of up to 75%

On Friday, the Sensex shed 1.73 per cent or 1020.80 points and closed at 58098.92 points. Similarly, the NSE Nifty 50 lost 1.72 per cent or 302.45 points and settled at 17,327.35 points. Stocks fell globally as central banks around the world hiked interest rates to fight inflation.  Amid volatility, here are some stocks recommended [...]
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Sep 25, 2022

Top Stock Picks: 8 Stocks to BUY for an upside of up to 75%

Editor's Pick, News

On Friday, the Sensex shed 1.73 per cent or 1020.80 points and closed at 58098.92 points. Similarly, the NSE Nifty 50 lost 1.72 per cent or 302.45 points and settled at 17,327.35 points. Stocks fell globally as central banks around the world hiked interest rates to fight inflation.  Amid volatility, here are some stocks recommended [...]

Sep 25, 2022
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Sep 24, 2022

4 Microcap Multibagger stocks locked in an upper circuit

Editor's Pick, News

Microcap companies have a market capitalization of less than 500 crores. These companies are less popular among conservative investors as they have high risks associated with them. However, it must also be noted that the return by investing in these companies can be huge:  Here are four microcap multibagger stocks that were locked in an [...]

Sep 24, 2022

Latest Market News

Midcap Pharma stock reaches 52 week low; Brokerage sees 34% upside

Sanofi India Ltd’s share price took a beating in response to litigation threats and a cancer drug development setback. The finance chief of the pharmaceutical company said on Wednesday that a decline was strongly exaggerated and posed a buying opportunity for savvy investors. Sanofi India is engaged in the business of manufacturing and sale of [...]

2 Fundamentally strong stocks to BUY for an upside of up to 65%

Headline gauges BSE Sensex and NSE Nifty 50 closed in the red on Friday amid a volatile session. The gains in the iT shares were offset by the losses in oil & gas and financial shares. Broder markets gave up initial gains during the day. Here are two shares that brokerages have recommended for an [...]

Global trends, investment pattern of FIIs to direct market movement this week: Analysts

With no major domestic market moving triggers this week, equities would continue to look at global factors, foreign fund movement and trend in the rupee for further direction, analysts said. "This week we have the August month F&O expiry where bulls are looking for rest after a gain in the August series," said Santosh Meena, [...]

Ladakh rolls out EV policy with subsidies to encourage buyers

The Union Territory of Ladakh has announced a new electric vehicle policy with subsidies to encourage the citizens to procure e-vehicles in order to create a carbon-neutral future, an official spokesman said on Saturday. Ladakh’s Electric Vehicle and Allied Infrastructure Policy aims to transform the UT into a torch bearer in terms of the adoption [...]

Adani to launch open offer for ACC and Ambuja Cements on August 26

The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a [...]

2 Monopoly stocks to BUY with huge upside potential; Do you own any?

Companies do better and get good margins in the absence of competition in an industry. Very few companies have true monopolies, but most of them are almost monopolies. They have brand recognition or they have dominance in any particular geography.  Brokerages see an upside in these two companies that enjoy strong monopolies in their category: [...]

Is this Auto stock up for a turnaround? What should investors do?

The share of Hero Motocorp has given a negative return of more than 29% in the past 5 years. It was trading at ₹ 2,867 per share as of 11:30 IST on Friday. Back in August 2017, it used to trade near ₹ 4,000. During the same period, Bajaj Auto and TVS clocked a return [...]

RBL Bank cuts stake in Kilburn Engineering

RBL Bank has further brought down its shareholding in Kilburn Engineering by selling an additional 2.92 per cent stake through stock exchanges. The bank has further sold 10,00,000 equity shares representing 2.92 per cent of the paid-up share capital of Kilburn Engineering Ltd, RBL Bank said in a regulatory filing on Friday. The private sector [...]

CAMS promoter entity pares 3.79% stake for Rs 428 crore

Computer Age Management Services Ltd (CAMS) promoter entity on Friday divested a 3.79 per cent stake in the IT services company, garnering Rs 428 crore through an open market transaction. Great Terrain Investment Ltd offloaded a total of 18.55 lakh shares, amounting to a 3.79 per cent stake in the company, as per bulk deal [...]

Insured assets worth Rs 150 crore affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant [...]

Sensex, Nifty fall over 1% as bulls take a breather

Equity benchmarks fell on Friday after a continuous rally, with the Sensex and Nifty declining over 1 per cent each amid profit-taking and weak global market trends. The 30-share BSE Sensex, which had started the trade on a firm note, later gave up all the early gains and ended 651.85 points or 1.08 per cent [...]

Tata Group stock jumps 5% and reaches an all time high; Analysts expect more upside

The shares of Tata Chemicals surged 5.71% on Friday’s early trades to reach a fresh all-time high of ₹1182.40 apiece on the Bombay Stock Exchange (BSE). The company recently reported strong results for the June quarter.  Tata Chemicals posted overall revenue at ₹ 3995 crores in Q1FY23, up 34% year-on-year, led by strong performance across [...]

Future Enterprises defaults on Rs 12.68 crore interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on [...]

Paint Stocks to BUY with a potential upside of up to 20%; Are you holding any?

With crude oil prices falling, the shares of paint companies have been buzzing on Dalal Street. The price of Brent crude oil fell by more than 15% in the past month. Higher crude oil prices increase input costs for paint companies Paint companies use crude oil derivatives as raw materials and this accounts for about [...]

Gold imports up 6.4% to USD 13 billion in April-July this fiscal

India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 per cent to USD 12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at USD 12 billion during the same period a year ago. In July 2022, however, imports of the [...]

Govt hikes windfall profit tax on export of diesel; cuts tax on domestic crude oil

The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates. At the third fortnightly review, the government raised the windfall profit tax on [...]

Syrma SGS Tech IPO subscribed 32.61 times on final day

The Initial Public Offer (IPO) of Syrma SGS Technology was subscribed 32.61 times on the final day on Thursday. The Rs 840 crore-IPO received bids for 93,14,84,536 shares against 2,85,63,816 shares on offer, according to NSE data. The category for Qualified Institutional Buyers (QIBs) received 87.56 times subscription, non institutional investors was subscribed 17.50 times [...]

Wipro holds back employees variable pay due to pressure on margins

IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources. According to the sources, the company has informed employees in an email about the cut in variable pay. Two sources aware of the development told PTI [...]

Elevated inflation warrants appropriate policy response, says RBI

Inflation is persistently at elevated levels that warrants appropriate policy responses to anchor expectations going forward, said an RBI article published on Thursday. Retail inflation based on the consumer price index (CPI) softened to 6.71 per cent in July, mainly on account of moderation in food prices. The Reserve Bank has increased the benchmark lending [...]

SpiceJet, Credit Suisse AG tell SC they resolved financial dispute

SpiceJet and Swiss firm Credit Suisse AG Thursday told the Supreme Court about the resolution of their financial dispute which led to the withdrawal of an appeal by the low-cost airline against a Madras High Court verdict which had ordered its winding up due to alleged non-payment of dues to the Swiss firm. "There is [...]

Sensex maintains momentum for fifth day; Nifty nears 18k

Equity benchmark Sensex ticked higher for the fifth straight session on Thursday, helped by fag-end buying in select blue-chip stocks amid a largely negative trend in global markets. A depreciating rupee and rising crude prices in the international market capped the gains in domestic equities, traders said. In a largely choppy session, the 30-share BSE [...]

Stocks to BUY: 2 Blue chip stocks with huge upside potential

Blue Chip companies are large and well-recognized companies with an excellent reputation. They are financially sound and have operated for many years. They have dependable earnings and often pay huge dividends to investors. Brokerages are bullish on these blue chip stocks and they see an upside of up to 27%: ICICI Bank The shares of [...]

Zomato shares surge 70.57%; Should you Buy, Sell or Hold?

The shares of food aggregator Zomato Limited have been on an uptrend after hitting their 52- week low of ₹ 40.60 in July this year. Its share price plummeted as market participants expected a huge sell-off after the expiry of the one-year lock-in period for its promoters and early investors.  Zomato’s shares have risen from [...]

DoT gets Rs 17,876 cr from telecom operators as upfront payment for 5G spectrum

The Department of Telecom has received upfront payment of around Rs 17,876 crore from Bharti Airtel, Reliance Jio, Adani Data Networks and Vodafone Idea for spectrum they won in a recent auction, according to sources. While all telecom operators have opted to make payments in 20 annual installments, Bharti Airtel has paid Rs 8,312.4 crore [...]

Vikram Solar gets Sebi nod to mop up funds via IPO

Vikram Solar has received capital markets regulator Sebi's go ahead to raise funds through an initial public offering (IPO). The IPO consists of a fresh issue of up to Rs 1,500 crore and an Offer-for-Sale (OFS) of up to 50 lakh equity shares by the selling shareholders. Vikram Solar, which filed preliminary IPO papers with [...]

Multibagger stock with 310% returns will start trading Ex-split tomorrow

The shares of Mangalam Global Enterprise Limited opened at Rs 206 on Wednesday as against its previous close of RS 203. Till 11.30 am the shares had climbed 2.7% and were trading at Rs 209. In the last five days, the stock has climbed by more than 13%. So far this year, the stock has [...]

Britain’s inflation hits 40 year high as food prices soar

Britain's rate of inflation has surged to a new 40-year high as the Consumer Prices Index (CPI) rose to 10.1 per cent on Wednesday, with increasing food costs the biggest driver of the latest hike. According to the Office for National Statistics (ONS), annual inflation for essential food items is now running at 12.7 per [...]

FPIs stock holding slips 14% to USD 523 bn in Jun qtr: Report

The value of the foreign portfolio investors (FPI) holdings in the domestic equities dropped 14 per cent to USD 523 billion in the three months ended June 2022 from the preceding quarter, according to a Morningstar report. This was the third consecutive quarterly decline in the value of FPIs' investments in Indian equities. Foreign investors [...]

Airtel pays Rs 8,312.4 cr to DoT to clear 4 yr instalment in advance for 5G spectrum

Telecom operator Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecom towards dues for spectrum acquired in the recently concluded 5G auctions, the company said on Wednesday. With the payment, Airtel has paid four years of 2022 spectrum dues upfront. Airtel said it believes that this upfront payment, coupled with the moratorium [...]

KKR sells 27% stake in Max Healthcare Institute for over Rs 9,100 crore

The US private equity major KKR on Tuesday sold 27 per cent stake in hospital chain Max Healthcare Institute for Rs 9,185 crore through open market transactions. The shares were picked up by a host of entities, including the Government of Singapore, Monetary Authority of Singapore, Smaller Cap World Fund Inc, New World Fund Inc, WF Asian [...]

Tata Group stock jumps 81% this year and crosses Rs 10,000 mark

On Friday, Tata Exlsi limited became the first Tata group stock that crossed the 10k mark. In the early trading session on Friday, the stock opened at Rs 9,727 and spiked by 3% to reach its new levels of Rs 10,040.  The rally continued on Tuesday, as the shares opened at Rs 10,438 and zoomed [...]

Promoter BRDN Investment Management sells 5.6% stake in HDFC AMC for Rs 2,300 cr

Promoter BRDN Investment Management, formerly Standard Life Investments, on Tuesday divested its 5.58 per cent stake in HDFC Asset Management Company (AMC) for a little over Rs 2,300 crore through an open market transaction. According to bulk deal data available with the BSE, the promoter sold a total of 1.19 crore shares, representing a 5.58 [...]

Future Consumer defaults on Rs 51.85 cr payment

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 51.85 crore towards principal and interest due on non-convertible debentures, a regulatory filing said on Tuesday. The default which happened on August 15, 2022, includes an interest amount of Rs 10.73 crore and a principal Amount of Rs 41.12 crore, FCL said a regulatory [...]

Rare Enterprises backed Concord Biotech files IPO papers with Sebi

Rare Enterprises-backed Concord Biotech has filed draft papers with capital markets regulator Sebi to mop up funds through an initial public offering (IPO). The IPO is entirely an offer for sale of (OFS) of 2,09,25,652 equity shares by Helix Investment Holdings Pte Limited, which is backed by private equity firm Quadria Capital, according to the [...]

9 Stocks that will turn Ex-Dividend this week; Are you holding any?

The Indian benchmarks started the second week of August in green. As of 13:15 IST, the S&P BSE was up 234 points or 0.36%. The Nifty50, on the other hand, was trading at 17,881 points, up 0.41% or 73 points. Investing in dividend stocks exposes the investor to additional income in the form of dividends [...]

Largest gold NBFC stock drops 15% on subdued Q1 performance

The stock of the nation’s largest gold loan NBFC, Muthoot Finance declined almost 15% in the early hours of trading on Tuesday. As of 9:40 IST, the scrip hit its low of ₹1,009.30 per share, down 14.99% from its previous close of ₹ 1,187. Muthoot Finance is a large-cap financial services company with a market [...]

Balaji Solutions files draft papers with Sebi to raise funds via IPO

IT hardware and mobile accessories firm Balaji Solutions has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares worth up to Rs 120 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by [...]

Top Stock Picks: 10 Stocks to BUY for an upside of up to 65%

After a three-day holiday, the benchmark indices opened on a positive note on Tuesday. The BSE Sensex jumped nearly 400 points to open at 59,856, while NSE Nifty 50 reclaimed its 17800 level.  Here are some stocks that are recommended by analysts amid the ongoing bull market for an upside of up to 65%.  Vijaya [...]

Adani Logistics to acquire ICD Tumb from Navkar Corp for Rs 835 cr

Adani Logistics, a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd, on Tuesday said it has signed a definitive agreement to acquire ICD Tumb (Vapi) from Navkar Corporation for Rs 835 crore. Adani Logistics Ltd (ALL) in a statement said the deal comprises the acquisition of the operational ICD with a capacity to [...]

Stock to Buy: This Oil Stock can deliver upto 72% upside says ICICI Securities

The nation's second-largest state explorer, Oil India Limited’s shares gained almost 4% during the day and quoted 1.17% higher at ₹190.15 on Friday’s closing bell. This happened after the company reported robust earnings for Q1FY23.  The company’s net profit tripled to ₹ 1555.46 crores in the April to June quarter of 2022 from ₹ 507.94 [...]

Weekly Recap: Rakesh Jhunjhunwala passes away, Markets reach 4 month high and more!

Indian shares were trading lower on Monday, weighed down by a fall in the country's top lender State Bank of India by nearly 3% after weak quarterly earnings. The benchmark gauges, NSE Nifty and BSE Sensex edged higher on Friday, amid choppy trade, tracking mixed moves across global equities. Gains were observed in banking and [...]

Stocks to Watch: 4 Smallcap debt free stocks to add to your watchlist

Small cap stocks are generally preferred by investors who want to generate higher returns from their investments. However, with high reward comes high risk. Small cap stocks generally tend to fluctuate more as the markets move. Therefore it is imperative to check the financials of the company before investing in them.  Here are four debt-free [...]

Rakesh Jhunjhunwala: Here are a few of the Big Bull’s achievements

Veteran Stock market investor, Rakesh Jhunjhunwala, also referred to as the ‘Big Bull of Indian markets’ passed away at the age of 62 in Mumbai. The ace investor passed away early in the morning on Sunday, due to a cardiac arrest. According to Forbes, the market mogul was India’s 36th richest person in 2021 and [...]

Big Bull: Rakesh Jhunjhunwala passes away at 62

Veteran stock market investor Rakesh Jhunjhunwala, often referred to as India's Warren Buffett and whose net worth was USD 5.8 billion, died here on Sunday morning. He was 62. Jhunjhunwala died early in the morning due to a cardiac arrest, a source in his newly set up airline said. Often referred to as 'India's Warren [...]

Hindustan Copper Q1 Results: Consolidated net profit rises 25%

State-owned Hindustan Copper Ltd on Saturday posted a 25 per cent rise in consolidated net profit to Rs 57.08 crore for the quarter ended on June 30, 2022 on the back of higher income. The company had posted a consolidated net profit of Rs 45.63 crore in the year-ago period, Hindustan Copper said in a [...]

Reliance Infra Q1 Results: Consolidated net loss narrows to Rs 66.11 cr

Reliance Infrastructure (RInfra) on Saturday reported a narrowing of its consolidated net loss to Rs 66.11 crore for the quarter ended on June 30, 2022. The company had clocked a consolidated net loss of Rs 95.15 crore in the corresponding period of the previous fiscal, it said in a regulatory filing to the BSE. Its total [...]

No timeline from govt for selling IDBI stake, says LIC chairman

Life Insurance Corporation has said it has not received any timeline from the government for the stake sale in its subsidiary IDBI Bank. LIC owns 49.2 per cent of the lender and the government and public own the remaining shareholdings in the bank which was on the verge of collapse before it was forced into [...]

LIC Q1 Results: Net profit jumps to Rs 683 crore on record policy sales

Driven by a record premium income, Life Insurance Corporation in its maiden earnings after going public has reported a multi-fold jump in net profit at Rs 682.89 crore from the paltry Rs 2.94 crore a year ago. The nation's largest financial powerhouse that manages assets in excess of Rs 41 lakh crore had gone public [...]

Godrej Industries Q1 Results: Consolidated net profit up 38%

Godrej Industries on Friday reported 38 per cent rise in consolidated net profit at Rs 257.60 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs 185.99 crore for April-June period a year ago, Godrej Industries said in a BSE filing. Revenue from operations was Rs 4,024.55 crore [...]

Paytm loan distribution touches annual run rate of around Rs 25,000 cr

Digital financial services firm One97 Communications, which operates under the Paytm brand, on Friday said its loan distribution business reached an annual run rate of Rs 25,000 crore in July. The company had reported an annual run rate of around Rs 24,000 crore for the loan distribution business in June. Annual run rate gives an [...]

Wockhardt Ltd Q1 Results: Consolidated net loss at Rs 75 crore

Pharmaceutical firm Wockhardt Ltd on Friday reported a widening of consolidated net loss at Rs 75 crore in the first quarter ended June as revenue from key markets of the UK and the US declined. The company had posted a consolidated net loss of Rs 7 crore in the same quarter last fiscal, Wockhardt Ltd [...]

GMDC Q1 Results: Consolidated PAT jumps to Rs 345 crore

Gujarat Mineral Development Corporation (GMDC) on Friday posted a steep rise in consolidated profit after tax to Rs 344.94 crore in the June quarter, mainly on account of higher income from operations. The consolidated profit after tax was at Rs 37.71 crore in the year-ago period, it said in a filing to BSE. The company's [...]

Muthoot Finance Q1 Results: Consolidated net profit drops 16%

Muthoot Finance reported a 16 per cent decline in consolidated net profit to Rs 825 crore in the June quarter due to lower yields on low-interest rate teaser loans. Total income during the April-June quarter of 2022-23 fell by 5 per cent to Rs 2,804 crore as against Rs 2,963 crore in the same period [...]

NLC India Q1 Results: Consolidated profit rises 59%

NLC India Ltd on Friday reported a 59 per cent rise in consolidated profit at Rs 568.83 crore for the quarter ended June on the back of higher income. The company had posted consolidated profit of Rs 357.59 crore in the year-ago period, NLC India said in a regulatory filing. The consolidated revenue from operations [...]

ONGC Q1 Results: Net profit triples to Rs 15k cr on bumper oil, gas prices

India's top oil and gas producer ONGC on Friday reported a tripling of net profit in the June quarter as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates. Oil and Natural Gas Corporation's (ONGC) standalone net profit at Rs 15,205.85 crore, or [...]

Zee Entertainment Q1 Results: Consolidated net profit down 49%

Zee Entertainment Enterprises Ltd on Friday reported 48.94 per cent fall in consolidated net profit at Rs 106.60 crore for June quarter 2022-23 on account of challenging macroeconomic conditions. The company had reported a net profit of Rs 208.78 crore in April-June period a year ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a BSE [...]

The India Cements Q1 Results: Consolidated net profit rises to 79.98 crore

The India Cements Ltd on Friday reported an 86 per cent increase in consolidated net profit to Rs 79.98 crore for the first quarter ended June. The company had posted a net profit of Rs 43.05 crore during the April-June quarter of the previous fiscal, The India Cements said in a regulatory filing. Its revenue [...]

Apollo Tyres Q1 Results: Consolidated net profit rises 49%

Apollo Tyres Ltd on Friday reported 49.21 per cent increase in consolidated net profit at Rs 190.68 crore for June quarter 2022-23 riding on higher sales. The company, which had posted a net profit of Rs 127.78 crore for the year-ago period, said its board has approved raising Rs 1,000 crore through issuance of non-convertible [...]

Multibagger stock slips 20% after Lok Sabha passed Energy Conservation Bill

The shares of EKI Energy plunged almost 20% in the past three days after the Lok Sabha passed the Energy Conservation (Amendment) Bill to establish the carbon credit market in India, on August 08, 2022. Its shares are currently trading at ₹1,706.95 apiece. Prime Minister Narendra Modi’s Government is seeking changes to the energy conservation [...]

Bharat Forge and IGL Lead Intra day Gains on Friday on strong Q1 results

It is raining profits on Dalal Street as the companies roll out strong Q1FY23 results. So far the June quarter results of most the companies are positive with some giving excellent figures. This has uplifted the market sentiment and translated into good returns for shareholders of the companies. Bharat Forge The shares of Bharat Forge [...]

Grasim Industries Q1 Results: Consolidated net profit up 13%

Aditya Birla Group firm Grasim Industries Ltd on Friday reported 12.7 per cent increase in consolidated net profit at Rs 2,758.75 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs 2,447.97 crore for April-June 2021-22, Grasim Industries said in a regulatory filing. Revenue from operations was up [...]

SJVN Q1 results: Consolidated net profit jumps over 78%

State-owned power producer SJVN Ltd on Friday posted an over 78 per cent jump in consolidated net profit to Rs 609.23 crore in the June quarter, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 342.13 crore in the year-ago period, according to a BSE filing. The company's [...]

Bajaj Electricals Q1 Results: Consolidated net profit at Rs 41.19 cr

Bajaj Electricals Ltd on Friday reported a consolidated net profit of Rs 41.19 crore for the first quarter ended June 30. The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing. Its net sales rose 42.25 per cent to [...]

Aster DM Healthcare Q1 Results: Consolidated net profit rises 34%

Aster DM Healthcare on Friday reported a 33.84 per cent rise in consolidated net profit at Rs 79.77 crore for the first quarter ended June 30, on the back of higher revenue from the hospitals and retail pharmacies segment. The company had posted a consolidated net profit of Rs 59.6 crore in the same period [...]

Apparel Stock crosses ₹50,000 mark after MRF on robust Q1; Brokerages see more upside

Apparel manufacturer Page Industries Ltd on Friday became the second stock on the Indian bourses to cross the share price of ₹ 50,000 apiece on Friday’s early deals after it reported a multi-fold jump in the first quarter net profit. Its shares reached an all-time high of ₹ 50,350. Apart from Page Industries, MRF has [...]

Adani Group Stock to replace Shree Cement in upcoming NIFTY 50 rebalance

The Nifty 50 index is generally rebalanced every quarter and semi-annually. As a part of its periodic review, the next rebalancing of Nifty is about to take place in August 2022 which will be effective from September 30th, 2022.  These changes will take into account the average Free Float (FF) market capitalisation for the period [...]

Amusement park operator stock jumps 25% in 2 days on robust Q1 Results

The shares of Wonderla Holidays, a small-cap amusement parks operator hit the upper circuit of 20% on Thursday. The stock advanced Rs. 55.80 or 19.99% to touch hits 52-week high of Rs. 334.95 per share. The company declared its results at 1:30 PM IST after which the stock surged to hit its upper circuit limit. [...]

Tata Elxsi brings new age solutions for driverless cars, connected vehicles and more: Tata Elxsi CMO Nitin Pai

Equipped with new-age technology, design and tech service provider Tata Elxsi is helping customers reimagine products and services in the three key verticals of transportation, media and telecom and healthcare, says the company’s Chief Marketing Officer Nitin Pai. The result is product engineering services to help customers transform their products, and our own platforms such [...]

Shares of Oil India gain 3.56% on strong June qtr numbers

Shares of Oil India Ltd (OIL) gained 3.56 per cent in morning trade on Friday after the nation's second-largest state explorer reported strong June quarter results. On BSE, shares of OIL opened on a strong note at Rs 190, then gained more ground to touch Rs 194.65, registering a jump of 3.56 per cent over [...]

Page Industries shares hit 52 week high on strong Q1 earnings

Shares of Page Industries hit a 52-week high in morning trade on Friday after the apparel manufacturer reported a multi-fold jump in the first quarter net profit. Shares of Page Industries opened on a strong note on BSE at Rs 49,799.95, then gained momentum to touch its 52-week high of Rs 50,338.05, registering a jump [...]

Apollo Hospitals Q1 Results: Consolidated net profit falls 35%

Healthcare chain Apollo Hospitals Enterprise on Thursday reported a 35.33 per cent decline in consolidated net profit at Rs 323.78 crore in the first quarter of FY23 amid higher expenses and marginal revenue growth. The company had posted a consolidated net profit of Rs 500.68 crore in the same period last fiscal, Apollo Hospitals Enterprise [...]

Adani to invest Rs 57,575 crore in alumina mill in Odisha

Adani group will invest Rs 57,575 crore in setting up an alumina refinery in Odisha as the conglomerate run by richest Indian Gautam Adani adds one more business. In a press statement, the group said it will set up a 4-million tonnes a year alumina refinery near bauxite mines as well as an iron ore [...]

Aurobindo Pharma Q1 Results: Consolidated net profit down by 32%

Pharmaceutical company Aurobindo Pharma on Thursday said its consolidated net profit for the quarter ended June 30 was down by 32.4 per cent to Rs 520.5 crore compared to Rs 770 in the first quarter of the last fiscal. Revenues from operations were up by 9.4 per cent to Rs 6,236 crore during the quarter [...]

#Zerodhadown: Investors lose money due to technical glitch; ask for compensation

Many users of the online brokerage app Zerodha, took to Twitter to report that they have issues accessing the portal. They said that they were unable to access the app and that the prices were not being updated on a day when the markets were volatile. According to downdetector.com, 65 per cent of the users [...]

3 Rakesh Jhunjhunwala stocks reach 52 week high; Check their latest targets

The Indian indices opened in green on Thursday. The Sensex was up 585.21 points or 0.99% and opened at 59402.50, and the Nifty was up 161.40 points or 0.92% at 17696.20.  With the rising markets, here are two Rakesh Jhunjhunwala stocks that have reached their 52-week high and analysts see a further upside of up [...]

Oil India Q1 Results: Net profit triples on oil, gas price boost

Oil India Ltd (OIL), the nation's second-largest state explorer, reported a tripling of its net profit in the June quarter on record oil and gas price realisation. Its net profit was Rs 1,555.46 crore, or Rs 14.34 per share, in April-June compared to Rs 507.94 crore, or Rs 4.68 a share, in the same period [...]

Bharat Forge Q1 Results: Consolidated net profit at Rs 160.37 crore

Auto components maker Bharat Forge Ltd on Thursday reported a consolidated net profit of Rs 160.37 crore for the first quarter ended June 30. The company had posted a consolidated net profit of Rs 152.75 crore in the same quarter last fiscal, Bharat Forge said in a regulatory filing. Its consolidated revenue from operations during [...]

JSW Energy soars 17% in five days, here’s why!

JSW Energy on Wednesday said that its wholly owned subsidiary, JSW Neo energy has agreed to acquire solar and wind power assets from Mytrah Energy (India) Pvt Ltd. The deal was struck at an enterprise value of approximately ₹ 10,530 crores for assets totalling 1753 megawatts (MW). KPMG India Services LLP was the transaction advisor [...]

Allcargo Logistics Q1 Results: Consolidated PAT rises over two fold to Rs 280 cr

Allcargo Logistics has reported over two-fold growth in its consolidated profit after tax (PAT) to Rs 280 crore for the June quarter. The company had posted a PAT of Rs 106 crore in the first quarter of the previous fiscal, Allcargo said in a release on Thursday. Its consolidated revenue during the first quarter of [...]

Shares of Eicher Motors rise 3% to hit 52 week high on strong Q1 numbers

Shares of Eicher Motors jumped over 3 per cent to hit a 52-week high in morning trade on Thursday after the company posted strong earnings for the quarter ended June 30. On BSE, the stock opened strong at Rs 3,249 and gained further ground to touch its 52-week high level of Rs 3,260.85, registering a [...]

PB Fintech Q1 Results: Consolidated loss widens to Rs 204 crore

PB Fintech, the parent firm of online insurance broker Policybazaar, on Wednesday reported a widening of consolidated loss to Rs 204.33 crore in the first quarter ended June 30, 2022, according to a BSE filing. The company had posted a loss of Rs 110.84 crore in the same period a year ago. The consolidated revenue [...]

Kirloskar Pneumatic’s promoter entities sell company’s 14% share for Rs 432 crore

Kirloskar Pneumatic's promoter entities on Wednesday divested over 14 per cent stake in engineering firm Kirloskar Pneumatic Company Ltd for Rs 432 crore through open market transactions. The promoter and promoter group who offloaded shares included Jyotsna Gautam Kulkarni, Ambar Gautam Kulkarni and Nihal Gautam Kulkarni. The shares were picked up by a clutch of [...]

LIC offloads 2% stake in Mahindra & Mahindra for Rs 2,222.49 cr

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its shareholding in automaker Mahindra & Mahindra for about Rs 2,222.49 crore. The shares were sold through open market transactions during the period from December 21, 2020, to August 8, 2022, according to a regulatory filing. After the sale, the LIC [...]

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