SEPTEMBER IT COMPANIES RESULTS
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
Cement companies’ earnings likely to stay weak
Heatwaves, higher competition, construction slowdown due to polls impacted producers in a lean season.
S&P 500 and Nasdaq notch record highs as Nvidia gains
The S&P 500 and Nasdaq closed at record highs, driven by Nvidia's rise and Powell's rate-cut remarks. Market optimism about AI growth countered Fed rate-cut uncertainty. Major banks saw gains ahead of earnings season. Analysts predict strong Q2 earnings. Tempus AI surged on bullish ratings amidst moderate market activity.
Q1 results, FII action among 10 factors to impact D-Street mood this week
Nifty gained 1.2%, driven by IT, energy, and pharma stocks. U.S. labor data, TCS earnings, Rupee vs. Dollar, Bank Nifty, oil prices, FIIs, IPO action, and dividends will influence markets next week. Bulls maintain strength with positive sentiment and broader market participation, expecting some consolidation.
Explained: Why is France targeting Nvidia?
France's antitrust regulator is set to charge Nvidia in relation to alleged anti-competitive practices. The move comes after dawn raids by French authorities in September last year, which sources said targeted Nvidia. The raids were the result of an ongoing probe into the cloud computing industry.
Air India to introduce Airbus A350-900 on Delhi-London Heathrow route from September
Air India will deploy Airbus A350-900 aircraft on the Delhi-London Heathrow route from September 1, operating two daily flights. The new aircraft will replace Boeing 777-300ER and Boeing 787-8 Dreamliner on 14 of 17 weekly flights, adding 336 seats per week. CEO Campbell Wilson stated it's a milestone in elevating guest experience with upgraded cabins. New Airbus planes will upgrade 90% of Air India's London Heathrow flights.
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India Inc's CSR spends on sports likely to surge in next few years
The foundations of several companies, such as the Reliance, Tata Steel, JSW, Hindustan Zinc and SKF India, have been supporting sports as part of their corporate social responsibility (CSR) commitments. However, the data on whether there has been an increase in the CSR spend on sports and by which companies is not available. This is due to an MCA notification in September 2022 that no longer requires companies to disclose details of their CSR spends but only the total spends towards CSR.
Ajay Bagga on where to look for next market trigger and pockets to avoid now
Ajay Bagga says railways and defence sectors have already run up much and multi-year order books have been factored in. Now it is the execution challenge. So, have the investors already eaten the pie for railways and defence? Not fully, but right now there might be one more move up like we saw in railway stocks today.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
Impact of election results on stock market: Are Modi stocks the best bet?
Stocks related to Prime Minister Modi's policies, known as 'Modi stocks', are gaining attention. These include PSU stocks and those of private companies in sectors like infrastructure, defense, and manufacturing.
Oxyzo FY24 operating revenue up 59% to Rs 903 crore, net profit at Rs 290 crore
Oxyzo Financial Services, the lending arm of OfBusiness, reported a 59% increase in operating revenue to Rs 903 crore for FY24. The company raised $200 million at a unicorn valuation from investors like Alpha Wave Global. Ruchi Kalra leads Oxyzo, which has a net worth of Rs 2,600 crore.
Resolution plan at implementation stage; FY24 results delayed: Jet Airways
Jet Airways delays financial results declaration for March 2024, NCLT-approved resolution plan yet to be implemented, meeting to be convened shortly.
Q4 results today: LIC, NMDC among 236 companies to announce earnings on Monday
236 companies, including LIC and NMDC, to announce Q4 results. LIC reported a 49% rise in Q3 earnings, while NMDC saw a 62% increase in consolidated net profit.
Ashish Kacholia-backed smallcap stock jumps 8% after company's Q4 PAT rises 153%
Zaggle Prepaid Ocean Services, a smallcap company supported by ace investor Ashish Kacholia, saw its shares surge by almost 8% to Rs 338 on Friday's trading session on the BSE. This spike followed the announcement of strong fourth-quarter results.
Biocon Q4 Results: Net profit slumps 57% YoY to Rs 135 crore
Biocon Q4 Results: Revenue from operations increased 16% year-on-year (YoY) to Rs 2,947 crore in the January-March 2024 period.
Info Edge Q4 Results: PAT rises 18% YoY to Rs 211 crore, revenue up 8%
Info Edge's Q4 profit rose 18% to Rs 211 crore with revenue at Rs 608.3 crore. Operating profit margins at 37%. Final dividend of Rs 12 per share announced. Cash balance at Rs 4,191 crore. CFO highlighted 13.2% growth in cash from operations
China tech giant Alibaba posts modest yearly revenue growth
Chinese ecommerce giant Alibaba announced Tuesday a modest increase in annual revenue, at a time when the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. Fellow internet giant Tencent posted weakened revenue growth in the first three months of this year, also on Tuesday.
ETMarkets Smart Talk: Nifty hitting 24K is subject to Indian elections results and Middle East tensions: Sandeep Raina
Sandeep Raina of Nuvama projects Nifty50 levels at 24,000 to 25,000 based on expected EPS, influenced by Indian Elections and Middle East tensions. Market trends may align with US Fed’s policies, impacting inflation and equity performance. Raina further says that Indian markets will largely respond to the corporate earnings reports.
India Inc marks slowest quarterly revenue growth in January-March 2024: Crisil
Among the 47 sectors monitored by Crisil, only 12 are expected to have clocked an improvement in revenue growth both sequentially and year-on-year for the quarter.
Eicher Motors Q3 results today: Here's what to expect from the automaker
In the recent second quarter, the company posted 55% growth in its consolidated net profit to Rs 1,016 crore and revenue from operations increased 17% year-on-year (YoY) to Rs 4,115 crore.
Q3 results today: SBI, Clean Science, KIMS among 50 companies to announce earnings
Nearly 50 companies, including Archean Chemical Industries, Affle, Balu Forge, Clean Science and Technology, Gujarat Alkalies & Chemicals, and Krishna Institute of Medical Sciences (KIMS), will announce their December quarter earnings. The market is particularly interested in the results of PSU lender State Bank of India (SBI).
Q3 results today: Adani Enterprises, Adani Ports, Titan among 86 companies to announce earnings
The Street has an action-packed day on Thursday with the release of Union Budget 2024 and earnings announcements from 86 BSE listed companies for the December quarter. Notable companies to watch among the Nifty companies are Adani Enterprises, Adani Ports & Special Economic Zone, and Titan Company. Other important results include Abbott India, Aether, Bata India, Castrol India, Deepak Fertilizers and Petrochemicals Corporation, GMM PFaudler, India Cements, Jyothy Labs, Jupiter Wagons, Dr Lal Pathlabs, Minda Corp, MPhasis, RITES, Texmaco Rail & Engineering, Thyrocare.
Indus Towers Q3 Results: Company reports profit versus loss a year ago
Indus has flagged continued recovery challenges from another key customer (read: Vodafone Idea), saying the latter’s funding plan had still not materialised and it had not made the committed payments pertaining to the outstanding amount due as at December 31, 2022. The telecom tower company’s net profit grew 19% sequentially, from Rs 1,295 crore in the fiscal second quarter to September 2023.
Q3 results today: IndusInd Bank, Polycab among 42 companies to announce earnings
Q3 results today: Lender IndusInd Bank will announce its Q3 earnings along with 41 companies. Investors will closely watch the results of this fifth-largest private bank following HDFC Bank's unimpressive results. Other notable companies to track include Indiamart InterMesh, Mastek, Metro Brands, Polycab, Home First Finance Company, Poonawalla Fincorp, South Indian Bank, Shoppers Stop, and Tata Communications.
Q3 results today: Asian Paints, LTIMindtree among 22 companies to announce earnings
Asian Paints to announce Q3 earnings along with 21 other companies. Federal Bank and Bank of Maharashtra posted YoY jump in profit after tax. Asian Paints is likely to report strong Q3 results. LTI Mindtree is expected to report constant currency revenue growth.
JK Tyre shares zoom 14% as Q2 profit increases five-fold to Rs 249 crore
The tyre maker also approved an investment of Rs 1,025 crore for manufacturing capacity expansion. The expansion is proposed to be funded by way of equity/internal accruals and debt.
NDTV shares fall over 3% as Q2 net profit drops 51%
The decline was mainly attributed to a fall in advertising spending by businesses amid rising interest rates. Indian broadcasters are grappling with slowing advertising spending as businesses clamp down on discretionary investments to rein in costs amid high inflation and aggressive interest rate hikes.
Mahindra Logistics shares fall 6%, hit 52-week low post Q2 results
Mahindra Logistics reported a 4% increase in volumes for its MLL Express business during the quarter. As for warehouse management, Mahindra Logistics continues to show a strong presence with 19 million square feet of warehouse space under its purview within the 3PL business.
Angel One shares jump 7%, hit 52-week high after Q2 profit zooms 43% YoY
Its quarterly revenue grew 40.7% YoY to Rs 1,048 crore. Earnings before investment, tax, depreciation, and amortisation (EBITDA) for the quarter under review stood at Rs 443 crore, marking a jump of 40.1% compared with the year-ago period.
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