SHOPPERS STOP STOCK UPDATE
Could IT make a meaningful comeback in Q1? Deven Choksey explains
Deven Choksey highlights the importance of sticking with larger banks for business growth and emphasizes the positive outlook for IT companies. Additionally, L&T's promising future is underlined by margin expansion and improved execution. Choksey further says that one shouldn't expect too big a rally in IT and that one should stay focused on some of the larger banks as far as the portfolio investment is concerned
After a robust debut, Morgan Stanley picks up 3.5 lakh shares in Stanley Lifestyles for Rs 16.7 crore
The shares were acquired through a bulk deal at Rs 478.9 each. In the same transaction, Oman India Joint Investment Fund sold approximately 40.7 lakh shares, according to BSE data. Separately, on the NSE, Franklin Templeton Mutual Fund and Nippon India Mutual Fund purchased 11 lakh and 5 lakh shares in Stanley, respectively.
This ADIA-backed multibagger stock turned Rs 10,000 to Rs 5 lakh in 10 years
The stock has failed to live up to its previous glory of jaw-dropping returns in the recent past. In the last six months, the shares rose 56% and are up about 42% in the last one-year period.
Stock Radar: IEX hits fresh 52-week high; breaks out of almost 2 years of consolidation
From Rs 144 on May 14 the IEX stock rose to Rs 170 on June 14 — an upside of over 24% in a month. The momentum fuelled a rally in the stock, which hit a fresh 52-week high of Rs 182 on June 14. After a prolonged consolidation of 2 years, it witnessed a time-wise and price-wise correction and eventually found support above 110 levels in June 2023. It quickly recouped losses and built on gains. Despite this, it failed to hold above the 170 level again in January 2024.
Ixigo shares jump 20% after a robust debut at the bourses. Should you hold or book profits?
The impressive listing performance of Le Travenues Technology indicates the overwhelming investor response during the IPO, which saw a subscription rate of 98 times. Net proceeds from the offer are supposed to be utilised for funding working capital requirements, investments in tech, funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
GameStop shares tumble after CEO says store network will shrink
GameStop shares fell 11.6% after CEO Ryan Cohen hinted at operating fewer stores without detailing cash plans. Cohen aims for a more profitable business with a smaller network and value-added items.
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GameStop gains as Roaring Kitty reveals bet in Reddit post
GameStop surged 21% after 'Roaring Kitty' disclosed a $116 million bet on Reddit. Keith Gill's 5 million share holding now worth $260 million, impacting short sellers.
Wall Street drifts to mixed finish after the latest signal of a slowing economy
U.S. stocks mixed as economy slows. S&P 500 up 0.1%. Dow down 0.3%. Nasdaq up 0.6%. Manufacturing shrinks, affecting Treasury yields. Companies struggle with high interest rates. Tech stocks soar. GameStop rises. AMC climbs. Waste Management to buy Stericycle. Bond market sees yield fluctuations. Investors watch economic reports.
GameStop soars over 70% as 'Roaring Kitty' reveals $116 million bet in Reddit post
GameStop shares surged more than 70% premarket on Monday after "Roaring Kitty" Keith Gill, the stocks influencer behind the 2021 retail trading frenzy, returned to Reddit with a post showing a $116 million bet on the embattled videogame retailer.
GameStop soars as 'Roaring Kitty' reveals $116 million bet in Reddit post
It was Gill's first post in three years from his Reddit account, where screenshots of his bullish GameStop trades triggered a rush of demand in 2021 for "meme stocks" - often companies with weak fundamentals that gained a cult-like following through social media hype among retail traders.
Meme coin mania is about to erupt: Top cryptocurrencies to watch now
Top meme coins: Sealana (SEAL), WienerAI (WAI), Dogeverse, GameStop (GME), Pepe with strong community
Target issues weak forecast as shoppers pull back; shares tumble 10%
Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations.
GME Stock Forecast: Reliable stock price predictions for investors
GME stock set to hit $70 in May, reaching $64.83 on May 14th. Pikamoon surged 700% since March 2024 debut. Analysts predict $100 per GME stock. 2024 forecasts range $13.77 to $17.59. Ryan Cohen's e-commerce strategy crucial. Dogecoin's 2021 surge. Pikamoon's growth potential emphasized. Roaring Kitty's role noted.
Pepe, Dogeverse among top meme coin gainers as GameStop and AMC stocks surge
The return of 'Roaring Kitty' sparks a rally in meme stocks like GameStop and AMC. Dogeverse tokens with staking rewards see significant gains. Sealana and Pepe make waves in the meme coin space. WienerAI with an AI-powered trading bot performs exceptionally well.
GameStop, AMC drop after two days of sharp rally on 'Roaring Kitty' effect
Cinema chain AMC dropped 14.3%, after surging 135% in the past two sessions, while video game retailer GameStop fell 9.8% after hitting its highest level since June 2021 on Tuesday. Trading in the retail investor darlings, the most actively traded NYSE stocks, were halted minutes after the market opened.
Stocks in news: Ultratech, IOC, Adani Energy, Adani Total Gas, Kfin Tech, Tata Chemicals
Spandana Sphoorty reported consolidated net profit of Rs 122 crore for the quarter ended March 2024. The net interest income jumped 21% year-on-year.
More left to rally in bank stocks. Anand James explains why
"Smallcap250 Index has formed a Doji candle in the monthly timeframe and a MACD break in the weekly time frame indicating more weakness, with 74% of stocks in the Smallcap250 index seeing a negative weekly closing last week. The number of stocks that remained above 100DMA fell to 59% from 79% and those that remained above 50DMA fell from 82% last week to 40% this week."
Fashion, apparel retailers cut discounts amid subdued demand, low inventory
One of the largest apparel retailers and manufacturers, Aditya Birla Fashion & Retail managing director Ashish Dikshit said there is a slowdown which is reflected in the footfalls into malls and stores. The company has decided to scale down on discounting which has helped to significantly expand margins last quarter, he told investors recently.
Consumer goods cos hit the brakes on benefit payouts
The growth rate of employee benefit expenses has decreased for large consumer companies in India. This is attributed to lower hiring and muted demand. However, some companies have seen an increase in expenses, indicating continued expansion and investment in talent for growth.
Retail stock offers 7% profit window; PSU miner digs in for 4% gain
The markets opened on a strong note. Nifty retained its gains of the day and ended higher.
Retailers forced to write-off inventory due to obsolescence, cut sourcing periods
Apparel retailers are facing challenges with unsold inventory, resulting in write-offs and impacting margins. They are reducing sourcing periods to mitigate the risk of obsolescence and adjusting their ordering strategies. The industry was unprepared for the sudden demand slump after the festive season in 2022, leading to stockpile. Retailers are now planning for shorter periods and buying closer to the season. Despite extended discounting, retail sales growth has been negative for like-for-like stores due to a shift in consumer spending towards travel and experiences.
Shoppers Stop Q3 Results: Profit down 41% to Rs 36.85 crore, revenue up 8.8%
Shoppers Stop Q3 Results: The company had posted a net profit of Rs 62.74 crore in the October-December period a year ago, according to a company regulatory filing.
Retailers in a fix as discounts fail to draw buyers
"There is definitely a stress in the mass value segment and everyone was expecting EOSS to provide much needed momentum to the sale. But the growth is tepid and we are hoping the summer will be better," said Manish Kapoor, managing director of Pepe Jeans.
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