INDBANK MERCHANT BANKING SERVICES LTD Q2 RESULTS
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
Edelweiss Financial Services shares fall 17% post RBI action on 2 companies
Shares of Edelweiss Financial Services plummeted by 17% on the BSE, hitting a day's low of Rs 64, following a directive from the Reserve Bank of India (RBI). The RBI directed the company to cease and desist from acquiring financial assets due to concerns arising from structured transactions conducted by its group entities.
Ashish Kacholia-backed smallcap stock jumps 8% after company's Q4 PAT rises 153%
Zaggle Prepaid Ocean Services, a smallcap company supported by ace investor Ashish Kacholia, saw its shares surge by almost 8% to Rs 338 on Friday's trading session on the BSE. This spike followed the announcement of strong fourth-quarter results.
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Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Paytm witnesses slowdown in core businesses of merchant payments, consumer lending
In the first four months of 2024, Paytm’s user base shrank by 24% to 80 million, while the count of its active devices dropped by about 1 million over February and March on account of attrition, according to its quarterly filings with the stock exchanges. User attrition happened as a result of regulatory action by the RBI, it said.
TeamLease Q4 Results: Profit rises 14% YoY on general staffing strength
The company said consolidated net profit came in at 274.8 million rupees ($3.30 million) for the three months ended March 31.
Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY
Paytm Q4 Results: The fintech major's March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank's products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Vodafone Idea Q4 Results: Net loss widens vs Q3; ARPU rise to Rs 146
Vodafone Idea’s net loss for the fiscal fourth quarter, FY24, widened sequentially to Rs 7,675 crore, dragged by high debt and even as it continued to lose subscribers.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
India Exim Bank sees 12.3% year-on-year goods exports growth in Q1 FY25
The World Trade Organization (WTO) has predicted global goods trade to slowly recover in 2024 following a contraction last year. The volume of world merchandise trade is projected to increase by 2.6% in 2024 and 3.3% in 2025 after falling 1.2% in 2023, the WTO said last month but cautioned that regional conflicts, geopolitical tensions and economic policy uncertainties pose substantial downside risks to the forecast.
Tata Tech shares dip 5% as brokerages reduce target prices. Should you buy?
Tata Tech Share Price: Tata Tech reported its quarterly earnings for the second time on 3rd May wherein their net profit stood at Rs 157.24 crore for the quarter ended March 2024, which was down 27% on a year-on-year basis while the consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% YoY.
Q4 results this week: Adani group to lead as 211 companies will declare earnings
With 211 companies announcing quarterly results this week, investors are particularly watching out for major names like Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, and many others across various industries.
Deutsche Bank Q1 Results: Profit jumps 10% as investment bank outperforms
Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division.
LTIMindtree shares drop 2.5% after disappointing Q4 results. Should you buy?
On Thursday, shares of the IT service company LTIMindtree dipped 2.5% to touch the day's low at Rs 4,611 on the BSE, as the company's Q4 results failed to meet market expectations.
Q4 results today: Bajaj Finance, Nestle, Tech Mahindra among 44 companies to announce earnings
44 companies, including Nifty50 components like Bajaj Finance, Nestle, and Tech Mahindra, will reveal their earnings. Bajaj Finance may see a 22% rise in net profit, while Nestle expects a 17% profit jump, and Tech Mahindra anticipates a challenging quarter ahead.
Q4 results today: HUL, Axis Bank, LTIMindtree among 22 companies to announce earnings
Today marks a significant day for investors and market participants as several key companies from various sectors are set to announce their fourth-quarter results. Among the notable earnings releases, Hindustan Unilever (HUL), LTIMindtree, Indian Hotels, Axis Bank, Macrotech, and Tata Investment stand out.
RIL Q4 earnings: Top highlights from management commentary
Reliance Industries has announced the financial results for the quarter and year ending March 31, 2024. The conglomerate achieved a record annual consolidated revenue of ₹1,000,122 crore ($119.9 billion), marking a 2.6% increase year-on-year. Additionally, the annual consolidated EBITDA reached ₹178,677 crore ($21.4 billion), reflecting a substantial 16.1% year-on-year growth. The strong performance was driven by key segments like Jio Platforms, which saw revenue increase by 11.7%, and Reliance Retail Ventures, which reported a sharp 28.5% increase in EBITDA.
Q4 results this week: RIL, ICICI Bank, HCL Tech, among 166 companies that'll announce earnings
With Wipro and Infosys’ results out this week, the fourth quarter earnings season will now pick up pace as the upcoming week will witness the results for Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along with 167 other companies.
HDFC Bank Q4 profit grows 37% but falls short of estimate
HDFC Bank's Q4 net profit reached ₹16,510 crore, full-year at ₹60,810 crore, up 38%. Challenges post-merger affect expenses, asset quality, and loan mix strategy. Deposit mobilization efforts continue amid slow credit disbursements.
Which way will Nifty swing this week? These top 8 factors may help you predict
With the Iran-Israel conflict dominating headlines, Nifty broke a four-week-long winning streak to end the holiday-shortened week 1.65% lower.
HDFC Bank declares Rs 19.5 dividend for FY24. Check record date
HDFC Bank declared a Rs 19.50 dividend per equity share for the March quarter. Bank's profit surged 37.1% YoY to Rs 16,512 crore.
Wipro Q4 results; RBI nod for Cred’s payment aggregator biz
IT services major Wipro saw an 8% fall in its consolidated net profit in the March quarter. This and more in today’s ETtech Top 5.
Jio Financial Q4 Results: Net profit rises 6% QoQ to Rs 311 crore
The net profit was Rs 294 crore in the preceding December quarter. For the full year ended March 2024, the financial services company's net profit grew multi-fold to Rs 1,604 crore as against just Rs 31 crore in FY23.
Q4 results preview: 29 companies likely to report doubling of profit
29 companies expected to double profits in Q4FY24 across various sectors like BFSI, Auto, Healthcare. Notable companies include Adani Ports, KEC International, Birla Corporation, JK Cements, United Breweries, Gland Pharma, Quess Corp Ltd, Signature Global, NMDC.
Goldman Sachs Q1 Results: Profit jumps 28% on investment banking strength
Goldman Sachs profit rose 28% in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit, it reported on Monday.
Q4 Results Today: What to expect from TCS earnings?
TCS anticipates sequential growth in Q4 driven by BFSI and manufacturing sectors. Operating margin estimates 25.2-27.2%. Key focus on FY25 outlook, Hi-Tech, telecommunications, US, Europe, and Accenture Plc. Investor interest in Dalal Street.
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