Fri, Apr 19, 2024 10:04 AM
Panic-struck FPIs ramp up bearish futures bets overnight
A Flip by Avya Verma
Shares of Bajaj Auto Limited advanced 2.5 percent to Rs 9,124 in mid-day trade on May 2 after the company reported robust monthly sales for April. The Pune-headquartered company reported 17 percent year-on-year rise in sales to 3,88,256 units in April. During the same period last year, the two-wheeler major sold 3,31,256 units, company data showed.
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Federal Bank reported nearly flat net profit at Rs 906 crore for the quarter ended March 31, according to the exchange filing issued on May 2.Sequentially, the net profit fell 10 percent from Rs 1,007 crore in Q3FY24, the filing showed. Shares of Federal Bank were trading over 3 percent higher at Rs 167.7 apiece on BSE post earnings announcement. The stock rose by nearly 5% to hit 52-weak high.
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In a recent report, global brokerage firm BofA upgraded its rating on Vodafone Idea from 'underperform' to ‘neutral’ as the brokerage finds VIL offers the highest leverage for tariff hike (5% ARPU increase leads to 12% EPS increase).Moreover, the brokerage pointed out that the recent fundraise by the company is expected to enhance its 4G network coverage, which could mitigate market share decline.
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