PROFIT DROP
Wall St Week Ahead: Earnings season to test hopes for broader stocks rally
The S&P 500 has rallied 16% so far in 2024, driven by a handful of massive stocks poised to benefit from emerging artificial intelligence technology. Only 24% of stocks in the S&P 500 outperformed the index in the first half, the third-narrowest six-month period since 1986, according to BofA Global Research strategists.
Bajaj Holdings shares down 3.13% as Nifty drops
A total of 4,976 shares changed hands on the counter till 01:59PM (IST).
Tata Elxsi shares fall 0.61% as Nifty drops
A total of 9,919 shares changed hands on the counter till time (IST).
Mphasis shares up 0.74% as Nifty drops
A total of 13,706 shares changed hands on the counter till 11:01AM (IST).
Zomato shares up 1.32% as Nifty drops
A total of 1,805,623 shares changed hands on the counter till time (IST).
More worries for China, sales at big e-commerce festival drop for first time
This year the shopping festival failed to stir up much excitement among shoppers, industry experts said, even as major platforms extended offers to a weeks-long period to woo consumers who have been tightening their belts amid a gloomy economic outlook.
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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.
PNB Housing Finance shares drop over 8% after 2.7% equity change hands
PNB Housing Finance shares experienced a significant decline of over 8%, reaching the day's low at Rs 724 in Wednesday's trading on the BSE. This drop followed a sizable block deal where 2.7% of the equity changed hands.
Suzlon Energy Q4 Results: Net profit drops 21% YoY to Rs 254 crore
Renewable energy solutions provider Suzlon Energy on Friday reported nearly 21 per cent decline in consolidated net profit to Rs 254 crore in the March quarter mainly due to certain exceptional items.
ITC Q4 Results: Net profit drops marginally to Rs 5,020 crore
Revenue from operations went up by 1.4% at Rs 17,752.87 crore in the period under review. The company said excluding the agri-business (which was severely impacted due to government restrictions in trade of agri-commodities), the company’s gross revenue during the fourth quarter has gone up by 6% y-o-y.
Max Healthcare Q4 Results: Net profit drops 3% YoY to Rs 311 crore
Max Healthcare's Q4FY24 net profit dips 3% YoY to Rs 311 crore, attributed to lower effective tax rate in Q4FY23 and new unit losses. Gross revenue rises 15% YoY to Rs 1,890 crore.
JSW Steel shares fall over 2% after Q4 result disappoints
JSW Steel Share Price: The fall in share price came a day after the steel major reported a drop in consolidated net profit to Rs 1,299 crore for the quarter ended March 2024. It was Rs 3,664 crore a year ago. Revenue from operations in the reporting quarter, too, took a beating, though marginally, to Rs 46,269 crore.
Biocon Q4 Results: Net profit drops 57% to Rs 136 crore
Total revenue grew 1% YoY to Rs 3,966 crore. EBITDA for the quarter declined 16% YoY to Rs 964 crore, representing an EBITDA margin of 24% versus 29% in the same period last year. The gross R&D spends declined 36% YoY to Rs 228 crore in Q4FY24.
GAIL Q4 Results: Profit grows over 3x to Rs 2,177 crore; revenue drops 2%
On a sequential basis, profit after tax was down 23% QoQ from Rs 2,843 crore reported in the preceding December quarter. Meanwhile, revenues also dropped 6% compared with the third quarter period.
Union Bank and Bank of India shares drop up to 10% after Q4 results
Union Bank and Bank of India witnessed a 6-10% fall in their shares on Monday as their Q4 results fell short of expectations. Union Bank reported a 19% growth in net profit, while Bank of India's net profit increased by 7%.
Japan's Nikkei edges higher on earnings, Wall Street gains
The Nikkei closed 0.41% higher at 38,229.11 after rising more than 1% early in trading.
BPCL Q4 Results: Net profit down 30% YoY to Rs 4790 crore on weak refining margins
FY24 net profit highest at Rs 26,674 crore. Company issues 1:1 bonus; declares dividend of Rs 21 per share. Revenue from operations declined 5% from Rs 5.06 lakh crore to Rs 5.33 lakh crore
BPCL Q4 Results: Net profit drops 35% YoY to Rs 4,224 crore; co approves 1:1 bonus issue
BPCL Q4 Results: The net profit was Rs 6,478 crore in the last-year period. Apart from the bonus issuance, the board has also recommended a final dividend of Rs 21 per equity share (pre-bonus), which translates into a final dividend of Rs 10.5 per share post the bonus issue.
HPCL announces 1:2 bonus share issue, Rs 16.5 dividend along with Q4 results
The record date for the bonus issue has been fixed on June 21, while the credit of shares will happen on or before July 8. The paid-up share capital before the bonus issue stands at Rs 1,418.55 crore, an increase to Rs 2,127.82 crore after the issuance.
Sonata loses tempo on weak demand; mid-term view hazy
With over $ 1 billion or Rs 8,613 crore in FY24 revenue, Sonata generates over two-third of revenue from the domestic products licensing and related services and the remaining from the international IT services across verticals including travel, manufacturing, retail, healthcare, and banking, financial services and insurance.
Voltas shares drop 9% as margins disappoint across segments
Voltas Share Price: The company's Unitary Cooling Products (UCP) business continued to outperform the market and maintained its growth momentum. While the overall volumes grew by 27%, the YoY growth for air-conditioners was even higher at 35%. Voltas continues to be a market leader both in Split and Window Air-conditioners with a YTD market share of 18.7% as at March 2024.
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs
India's Kajaria Ceramics reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand.
SRF Q4 Results: Firm posts fifth straight drop in quarterly profit
SRF Q4 Results: Indian chemicals and polymers maker SRF posted a drop in profit for the fifth quarter in a row on Tuesday, hurt by sustained weak demand in its mainstay chemicals business.
Hindustan Zinc announces Rs 10 dividend, shares drop 4%
Hindustan Zinc Dividend: The record date of payment of the interim dividend is Wednesday, May 15, 2024, and the Interim Dividend shall be duly paid within the stipulated timelines as prescribed under law, it said.
Lupin share price drops 5% post Q4 earnings
Lupin Share Price: Its revenue from operations in the same period jumped 12% YoY to Rs 4,961 crore as against Rs 4430 crore in the corresponding period of last year.
Kotak Bank Q4 Preview: Profit to drop marginally; loan growth seen steady
Kotak Bank Q4 Preview: As far as figures are concerned, profit for the fourth quarter is expected to fall around 3% YoY. Key monitorables from the earnings include commentary on NIMs and growth outlook, especially the growth trajectory in the unsecured book.
Porsche AG Q1 Results: Operating profit drops 30% to $1.37 billion on ramp-up costs
Porsche finance chief Lutz Meschke said that while demand in China remained challenged the company would not compromise on margins by steering clear of a price war that has gripped the local market.
CSB Bank Q4 Results: Net profit drops marginally to Rs 152 crore on higher provisions
The Fairfax-backed bank had earned a net profit of Rs 156 crore in the year-ago quarter. The bank had made provisions of Rs 22 crore during the quarter against a provision write-back of Rs 9 crore earlier. Its net interest margin (NIM) for the quarter was 34 basis points lower at 5.04% against what it was in the year-ago quarter.
Hyundai Motor Q1 Results: Profit drops 2.4%, beats forecasts
The world's No.3 automaker by sales along with affiliate Kia Corp reported net profit of 3.2 trillion won ($2.32 billion) for the January-March period, down from 3.3 trillion won a year earlier.
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