POSITIVE RESULTS
Reflects changing political climate in country: Congress on bypoll gains
The Congress party's recent victories in the Himachal Pradesh and BJP-ruled Uttarakhand assembly bypolls indicate a changing political climate in India. Congress wrested Manglaur from BSP and retained Badrinath amid BJP's aggressive tactics. Jairam Ramesh views these wins as reflecting a political shift. In Himachal Pradesh, Congress won Dehra and Nalagarh despite BJP's 'Operation Lotus,' bolstering their strength in the state assembly per Rajiv Shukla. Key wins for Congress included Kamlesh Thakur in Dehra and Hardeep Singh Bawa in Nalagarh, although BJP's Ashish Sharma secured Hamirpur. In Uttarakhand, Qazi Mohammad Nizamuddin won Manglaur and Butola triumphed over Rajendra Singh Bhandari in Badrinath. These were part of 13 assembly bypolls held recently across multiple states.
Assembly bypolls results: INDIA bloc clinches 10 seats; BJP wins 2 and an independent candidate wins in Bihar
The INDIA Bloc has won 13 assembly seats in the bypoll elections held across seven states, including Uttarakhand, West Bengal, Bihar, Tamil Nadu, and Himachal Pradesh. The Congress, TMC, AAP, and DMK parties fielded candidates. The opposition parties won 10 seats, while the Bhartiya Janata Party (BJP) only managed to win two.
CCI probe finds Apple abused position in apps market
India's antitrust body finds Apple engaged in abusive conduct in app store market, forcing developers to use its payment system. Apple denies wrongdoing, citing small market share in India. Investigation ongoing with potential fines and business practice changes. Google also faced similar scrutiny in India for in-app payments.
HCL Tech’s weak Q1 revenue hints at demand concerns
HCL Tech's Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS.
HCL Tech Q1 Results: Cons PAT jumps 20% YoY to Rs 4,257 crore, beats estimates
HCL Tech Q1 Results: Profit rose 7% from the previous quarter, while revenue dipped 1.5%. Constant currency revenue increased 6% year-on-year but fell 1.6% quarter-on-quarter. EBIT increased 7% year-on-year to Rs 4,795 crore but decreased 4% quarter-on-quarter.
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
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Q1 results today: HCL Tech, IREDA among 14 companies announce earnings on Friday
TCS has started the first quarter earnings season with positive results, signaling an improved business environment. Today, HCL Tech, along with 13 other companies, will announce their earnings for the quarter ended June. Other notable companies reporting earnings include 5paisa Capital, Atharv Enterprises, Betala Global Securities, Gautam Gems, Golkonda Aluminum, Indo Cotspin, Infomedia Press, IREDA, and Oriental Hotels.
Who is Sasha Obama? How has she achieved physical transformation?
Sasha Obama, the youngest daughter of Michelle and former President Barack Obama, has been noticed for her dedication to fitness. Influenced by her family's wellness values, Sasha's rigorous workout routine is paying off.
Japanese yen jumps after US data; traders still wary of intervention
The Japanese yen jumped on Thursday, in a move traders said was most likely the result of dollar selling after a weak reading of U.S. consumer inflation, rather than official intervention from Tokyo authorities.
What will happen to Paris Olympics 2024 after France election results?
France election results are out and the country's current political situation has raised several questions ahead of Paris Olympics 2024.
Jump in FII long-short ratio sans correction may be a new Normal
Market confuses with record FII long-short ratio surge, hinting at shifting dynamics post-election. Chandan Taparia notes unusual stability despite ratio near 5, credits India's growing equity culture for market surge.
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
Infosys, Tech Mahindra among 6 IT stocks that could surprise positively in Q1 results: JM Financial
Stating that Tech Mahindra remains a ‘buy' on turnaround hopes while KPIT Technologies and Tata Technologies are structural bets on auto ER&D theme, domestic brokerage firm JM Financial believes that Q1 results for the IT sector could positively surprise the street.
Hedge funds rebuild oil position after OPEC⁺ round trip: Kemp
Navigating through diverse commodities, my investment strategy adapted to changing market conditions. From crude oil to natural gas, I observed shifts in positions and prices, reflecting resilience and caution. The market's response to OPEC+ reassurance and high inventories showcased a dynamic landscape, with investors strategizing for potential opportunities and challenges ahead.
End of 'negative' politics: Akhilesh Yadav on Lok Sabha poll results
Samajwadi Party chief Akhilesh Yadav declared the end of negative politics, celebrating the triumph of people's issues. He highlighted the Samajwadi Party's rise as the third-largest party and emphasized their commitment to public service in the Lok Sabha. In the recent elections, SP won 37 out of 80 seats in Uttar Pradesh, with Congress winning 6 seats, while BJP secured 33 seats, and their allies RLD and Apna Dal (Sonelal) won two and one seats, respectively.
There can be both time wise and value wise correction in PSU stocks: Sandip Sabharwal
Consumer stocks are under-owned at this point of time. They have not given any returns for the last four-five years, leave aside something like a Godrej Consumer or a Tata Consumer which have been outliers and some stocks like Titan and all which have their own dynamics.
Another 1000-point rally on the cards for Nifty post election results: Gautam Shah
I do believe that there is going to be continuity to this rally as well and a possibility of add up of about 1000 points on the Nifty is quite possible.
Nifty May poll vault above 23,110 life-high
Nifty is expected to cross its current all-time high of 23,110 early this week driven by optimism around the exit polls that is hinting at the BJP-led NDAreturning to power with a strong majority. Analysts expect short covering if Nifty holds above the 21,821 zone. Bajaj Auto, Britannia, Coal India, HDFCBank, Union Bank, Fortis, Indus Towers, Dixon and BHEL are some of the stocks recommended by the analysts for short-term trading
FII and retail positioning ahead of election results look scary, warns Rupak De of LKP Securities
"A favorable outcome for BJP is likely to take the index on a wild ride towards 23,500. However, at this juncture, 24,000 appears slightly unlikely, at least in the 4-5 trading sessions."
Insurance stocks offering good defensive positions with strong value additions: Sanjiv Bhasin
Amid election result uncertainties, staying invested is advised. Anticipated market rebound post-results may drive new highs. Favorable fundamentals support quality stock buying, especially in insurance and banking sectors. Opportunities also seen in mid and small-cap stocks like Rattan Power.
What strategy should traders use ahead of poll results? Rohit Srivastava explains
On a one-day basis, the market would go the other way if the numbers are not meeting expectations and so till the actual numbers really come out, markets would remain jittery, that is the main point.
Ahead of June 4, be relatively light & in cash; curtail trading: Dipan Mehta
Dipan Mehta advises caution and light trading ahead of the upcoming election dates. He emphasizes the importance of being in cash and watching the election results closely for investment decisions.
How results of Lok Sabha polls will impact sensex, Nifty
According to a Bloomberg News survey of market participants, Indian stocks require Prime Minister Narendra Modi's party to secure more than 303 seats in the general election to continue their unprecedented rally. The survey, which included 32 asset managers, strategists, and dealers, suggests that a reduced majority for the ruling BJP could result in a 2% decline in the NSE Nifty 50 Index, along with potential losses in the rupee and sovereign bonds.
Gokaldas Q4 Results: Firm reports 54% jump in revenue growth
Bengaluru-based apparel exporter Gokaldas Exports reports a 54% increase in consolidated revenue to Rs 818 crore for the quarter ended March 2024. Despite a 6% dip in profit after tax, strategic acquisitions and equity raise bolster the company's financial position.
Markets to get surprised on the positive side if the NDA numbers are closer to 400: Manish Sonthalia
Manish Sonthalia, CIO at Emkay Investment Manager, discusses potential dark horses in commodities, specifically metal, and highlights sectors like public sector units, BFSI, banks, and IT performing well this year. sonthalia says everything seems to be priced into perfection or more than perfection when it comes to the extreme short term or even the short term.
Positive momentum till election results are out; best momentum in consumer durables & metals: Vishal Malkan
Vishal Malkan plans to buy Astral and MCX after a 5% dip. RVNL near Rs 340 resistance, poised for an upside breakout. Consumer durables, metals sectors show momentum with VEDL, Jindal Steel. Reliance Industries and SJVN are also in focus. Malkan prefers to stick to VEDL, Jindal Steel and Motherson Sumi, Ashok Leyland, Tata Power, which are in momentum.
Blinkit turns adjusted EBITDA positive in March as co aggressively bets on store expansion
The company highlighted that one of the key vectors for growth for the business will come through the store expansion. In the fourth quarter, it added 75 net new stores taking the total store count to 526.
Most brokerages positive on SBI, many raise targets
Analysts said the state-owned lender's results, which beat estimates, were driven by better net interest margins (NIM) and other income, but deposit growth was lagging. However, the management guided for loan growth of 13-15%, prompting analysts to raise estimates.
No written communication from I-T Dept regarding outcome of Dec raid: Polycab
Polycab India, raided by tax authorities in December 2023, reported that it got no written communication regarding search outcome. Polycab's management asserts no material adverse effects on financial position, requiring no adjustments to reported results. Tax department at the time had alleged unaccounted cash sales of approximately Rs 1,000 crore.
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