Fri, Sep 29, 2023 11:59 AM
This year’s hottest tech IPO may be a transportation company
A Flip by Shubhangi Gupta
A rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date. Market strategists who track historical trends say stocks.
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Shares of JSW Steel dropped nearly 2.5% on the BSE in Saturday’s special trading session to the day’s low of Rs 885.50 after reporting a 64% YoY loss in the fourth quarter of FY24.The steel major on Friday reported a drop in consolidated net profit to Rs 1,299 crore for the quarter ended March 2024. The same stood at Rs 3,664 crore a year ago.
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Hindustan Aeronautics Limited shares surged over 4 percent to hit a record high of Rs 4,739 after Jefferies reaffirmed its bullishness on the stock and hiked the target price on positive growth prospects. The international brokerage maintains a 'buy' call on the stock and raised the target price to Rs 5,725, implying an upside potential of over 26 percent from the current market levels.
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