PROFIT RISE
TCS Q1 profit rises 8.7%; wage hikes, demand slump drag sequential numbers
TCS's June quarter net profit decreased 3.16% to Rs 12,040 crore due to wage hikes for its 600,000-plus workforce; net profit increased 8.7% YoY. Revenue rose 5.4% to Rs 62,613 crore. BSNL deal drove 61.8% India growth. The deal pipeline is $8.3 billion, AI projects at $1.5 billion. Operating margin is 24.7%. Interim dividend Rs 10 per share.
Paint companies sparkle on price rise, but ‘gains could be short-lived’
Paint shares surged due to price hikes, led by Indigo Paints at 10.7%. Analysts foresee short-lived gains and pressure from Birla Opus. Nuvama views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks range-bound. Anand Rathi sees opportunities. Elara Capital cites margin pressure and muted FY25 earnings, advising strategic investment.
Tata Elxsi posts 2.5% dip in Q1 profit, revenue rises 9%
Tata Elxsi's Q1FY25 net profit declined 2.5% YoY to Rs 184.1 crore, impacted by weaker healthcare, life sciences, and media segments. Revenue rose 9% YoY to Rs 926.5 crore. Operating margins fell, Europe share rose to 42.2%. Headcount decreased by 257, attrition improved to 12.3%. CEO Raghavan noted strong transportation sector. Shares increased 1.4%.
Emcure Pharma IPO GMP rises on share allotment day, indicating healthy listing
Following a healthy response to the IPO of Emcure Pharmaceuticals, the shares of the company are commanding a healthy premium of Rs 360 in the unlisted market.
IndusInd Bank Q1 Update: Net advances jump 16% YoY to Rs 3,48,107 crore; deposits rise 15%
IndusInd Bank's net advances rose Rs 3,48,107 crore in Q2 FY24, marking a 16% increase from Rs 3,01,317 crore in the same quarter last year. Deposits rose 15% year-on-year to Rs 3,98,632 crore from Rs 3,47,347 crore.
YES Bank Q1 Update: Advances rise 15% YoY to Rs 2.29 lakh cr, deposits grow 21%
The bank's credit-to-deposit ratio for the first quarter was 86.4%, down from 91.3% in the same quarter last year. During the April-June 2024 period, the liquidity coverage ratio improved to 137.8%.
Rate sensitivity on the rise in PSB portfolios
"The AFS (available for sale) portfolio's sensitivity (PV01) increased for PSBs (public sector banks) and FBs (foreign banks) since September 2023, while it declined for PVBs (private banks)," the Reserve Bank of India (RBI) said in its June 2024 Financial Stability Report.
Craftsman Automation shares rise over 3% on launching Rs 1,200 crore QIP
Craftsman Automation's share price rose 3.5% to Rs 4,945 on the BSE after initiating a Qualified Institutional Placement (QIP) to raise Rs 1,200 crore.
Brigade Enterprises shares rise 9%, hit 52-week high after Q4 profit jumps nearly 3-fold
Brigade Enterprises' shares surged 9% to a 52-week high after reporting a three-fold jump in net profit. Managing Director Pavitra Shankar expressed confidence in sustained performance with ongoing and upcoming projects in Bengaluru, Chennai, and Hyderabad.
DCM Shriram Industries Q4 Results: Profit rises 23% to Rs 39 crore
DCM Shriram Industries reported a 23% increase in consolidated net profit to Rs 38.64 crore for Q4 of the 2023-24 fiscal, driven by lower expenses.
Nifty Outlook: Expert predicts consolidation, suggests profit booking & sectoral rotation
Financial expert Osho Krishan discusses the current state of the Nifty index and provides insights into market movements and sectoral trends. He says the Nifty is experiencing a rising channel pattern and suggests that investors consider booking profits around the 23,080 to 23,160 levels. Krishan also emphasizes the importance of trailing stop losses and utilizing dips to accumulate long positions. He predicted sectoral rotation, with IT stocks gaining traction.
Hudco Q4 Results:Net profit rises 9% YoY to Rs 700 crore
The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.
Sun Pharma shares tumble 5% but brokerages raise target up to Rs 1,785. Should you buy, sell or hold?
In Thursday's trading session on the BSE, shares of Sun Pharmaceutical Industries declined by 5%, reaching the day's low of Rs 1,467. This drop occurred despite the company reporting a 34% year-on-year (YoY) increase in its Q4 profit to Rs 2,654.6 crore, with revenue rising by 10.1% YoY to Rs. 11,813 crore in Q4FY24.
Jubilant FoodWorks Q4 Results: Profit jumps on steady demand
Jubilant FoodWorks reported a more-than-seven fold jump in quarterly profit on Wednesday as the Domino's Pizza's Indian franchisee booked an one-time gain and also benefited from steady demand.
ZEE Entertainment shares rally 5% after Q4 results. Should you buy, sell or hold?
ZEE Share Price: ZEEL swung back to profit in March quarter against loss a year ago. Its total income in the reporting quarter, too, increased 3% YoY to Rs 2,185 core. Goldman Sachs sees partial recovery in revenues as a positive sign.
Union Bank Net Rises 19% on Big IT Refund, Interest Income
The bank received ₹497 crore as income tax refund in the quarter ending March as against ₹8 crore in the comparable period, which helped to push up profits for the fourth quarter.
Speedy rise and rise of quick commerce
Quick commerce, like Blinkit, revolutionizes grocery delivery in India, surpassing food delivery. Online grocers thrive with data analytics, inventory control, and competitive advantage over traditional retail.
Polycab India Q4 Results: Cable maker posts profit rise on healthy demand
Polycab India reported a 28.5% jump in its fourth-quarter profit on Friday, driven by strong demand for its wires and cables, its largest segment.
Abbott India Q4 Results: Net profit rises 24% YoY on higher sales
Indian drugmaker Abbott India reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines.
Load More
