INDIA SECURITIES LTD Q2 RESULTS
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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.
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IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
![Q4 results: Stable costs boost India Inc. profits](https://img.etimg.com/thumb/msid-111014295,width-100,height-75,resizemode-4/wealth/invest/q4-results-stable-costs-boost-india-inc-profits.jpg)
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
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PNC Infratech likely to improve performance on order strength
The company's financial performance in the March 2024 quarter was lower than the Street's estimates. The company's standalone revenue increased by 10.8% year-on-year to Rs 2,342 crore.
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Tata Steel board approves Rs 3,000 crore fundraise via NCD route
It plans to raise upto Rs 3,000 crore through non-convertible debentures (NCDs) on a private placement basis.
![GIFT Nifty down 80 points; here's the trading setup for today's session](https://img.etimg.com/thumb/msid-110505204,width-100,height-75,resizemode-4/markets/stocks/news/pre-market-action-heres-the-trade-setup-for-todays-session.jpg)
GIFT Nifty down 80 points; here's the trading setup for today's session
"Nifty has been consolidating in a broad range for the third consecutive day as investors remain watchful ahead of the big election outcome next week. We expect the Nifty to remain sideways to marginally positive on the back of reduced FII selling, prediction of above normal monsoon and last leg of Q4 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
DOMS shares rally 10% to fresh all-time high after Q4 results; brokerages increase target up to Rs 2,121
DOMS Industries witnessed a remarkable surge of 10% in its shares on Tuesday on the BSE, reaching a new all-time high of Rs 2,035. This surge followed the company's announcement of a 29.6% year-on-year (YoY) increase in its Q4 profit after tax (PAT), which amounted to Rs 46.93 crore.
LIC Q4 Results: Cons PAT jumps 4.5% YoY to Rs 13,782 cr; dividend declared at Rs 6 per share
LIC Q4 Results: The company had reported a net profit of Rs 13,191 crore in the corresponding period of the last financial year. The Total Premium Income for the year ended March 31, 2024, was reported at Rs 4,75,070 crore. It was Rs 4,74,005 crore for the year ended March 31 2023. The Total Individual Business Premium for the financial year increased to Rs 3,03,768 crore from Rs 2,92,763 crore reported for the comparable period of the previous year.
Torrent Pharma, Glenmark Pharma shares jump up to 9% after Q4 results
Shares of Torrent Pharma and Glenmark Pharma surged post Q4 results. Torrent Pharma's net profit jumped 56% YoY while Glenmark Pharma reported increased losses. Motilal Oswal provides target prices for both companies.
Suzlon Energy shares under pressure post Q4 results; brokerages raise target price to Rs 54
Suzlon Energy shares dipped 2% to Rs 45 after a 21% decline in Q4 net profit to Rs 254 crore. The consolidated net profit for 2023-24 fell to Rs 660 crore while total income rose to Rs 2,207.43 crore. Analysts from ICICI Securities and JM Financial are bullish on the stock.
GIFT Nifty down 40 points; here's the trading setup for today's session
The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.
Will Nifty hit fresh record high before elections? That depends on these 5 factors
The week may remain lacklustre on the data front as no major economic data releases are scheduled in both the US as well as the Indian market. Indian investors are likely to focus more on the ongoing earnings season as well as stock specific developments. Nifty and Sensex have reached all-time highs driven by US Fed data and expert insights. Key factors that will shape market outlook.
Pre-market action: Here's the trade setup for today's session
"Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
M&M shares jump 4% after Q4 results; m-cap climbs Rs 8,742 crore
The company added Rs 37,159.36 crore taking its market capitalisation (mcap) to Rs 6,26,048.27 crore.
M&M Q4 Preview: Volume to drive 7% YoY revenue growth but tractor sales may disappoint
Three brokerage firms anticipate the auto giant's net profit to fall within the range of Rs 1,777 crore to Rs 2,079 crore. Revenue from operations is projected to reach Rs 24,051 crore. In the corresponding period last year, M&M disclosed a standalone PAT of Rs 1,549 crore and revenue of Rs 22,571 crore.
GIFT Nifty rises 120 points; here's the trading setup for today's session
"We expect the market to consolidate in a broader range as the election polling progresses and the result season nears the end," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Bharti Airtel announces final dividend of Rs 8 per share
The telecom major's Q4 net profit of Rs 2,072 crore missed the Street estimates by a wide margin, which saw the figure around Rs 3,274 crore. Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year.
Bharti Airtel Q4 Results: Profit slides 31% YoY to Rs 2,072 crore; dividend declared at Rs 8/share
Bharti Airtel Q4 Results: Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year. Consolidated revenues were impacted by the devaluation of African currencies during the period, particularly Nigerian Naira.
Hero MotoCorp shares surge 6% after Q4 results. Should you buy, sell or hold?
Hero MotoCorp Share Price: Hero MotoCorp shares surged 6% after Q4 results, with net profit up 18% to Rs 1,016.05 crore. Brokerages remained positive: Jefferies expects double-digit industry revenue growth, maintains 'buy'; BofA sees potential in Hero 2.0 strategy, sets target price of Rs 5,400; Kotak retains 'sell' rating.
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