PROFIT DROP
Japan's Nikkei drops from record high on chip selloff, yen intervention nerves
The Nikkei share average dropped 2% on Friday, influenced by a tech stock selloff mirroring Wall Street. Profit-taking before Japan's long weekend due to currency intervention concerns. Tokyo Electron and Disco saw significant declines. Topix also down 0.93%. Market affected by bond yield decrease and SoftBank's chipmaker acquisition.
Gold drops more than 1% as risk appetite grows
Gold prices dropped more than 1% due to a surge in equities and profit-taking by investors following a recent rally. Speculation on U.S. Federal Reserve rate cuts continues to influence the market. Stay informed on upcoming economic indicators and central bank decisions.
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.
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.
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
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.
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