As the rupee has gone deeper into the red against the greenback, smaller domestic airlines have flown into the blues, with escalating costs scorching the gains they made from a surge in traffic in 2024-25. The Indian currency has touched 86 to a dollar and consequently drove aircraft lease rentals, maintenance costs, and other payments made to global distribution companies upwards.
Open FlipShares of visa processing company BLS International were sharply lower by more than 3% on January 8 after the company said the month of December saw slower travel growth than what had been the trend in the past. Speaking to CNBC-TV18, Joint MD Shikar Agarwal, however, said he expects the numbers to be stable for the quarter.
Open FlipForeign portfolio investors are expected to remain cautious on Indian equities until there is clarity on Q3 FY25 earnings recovery and fair valuations, according to a report by Shriram Mutual Funds, citing uncertainty in the economic landscape and global market instability. The report highlighted that despite significant activity, FPIs remain wary of the current economic landscape.
Open FlipShares of Bartronics India Ltd. jumped 5 percent to hit the upper circuit at Rs 24.62 apiece on January 8. This comes after the company announced, in an exchange filing, that it has signed a Memorandum of Understanding (MoU) with Singapore’s PTW Group over both the parties’ intention to establish a semiconductor unit in India.
Open FlipAs an investor, if you have not carried out any investment in the past 30 days, get ready for the money lying in your account to be transferred to your demat account. This is what the Securities and Exchange Board of India (Sebi) has said in its latest circular while issuing instructions to the stock-brokers.
Open FlipUnited Breweries' shares fell 4% after announcing it would suspend beer supply to Telangana Beverages Corporation Limited due to unadjusted prices since 2019 and unpaid dues, resulting in significant losses. In a stock exchange filing, United Breweries added that there are significant overdues that TGBCL hasn’t yet paid for the past supply of its beer.
Open Flip📌Transformers and Rectifiers Ltd. has announced a 1:1 bonus issue, its first since 2013, along with a fund raising proposal to raise📌 ₹750 crore through Qualified Institutional Placement. The company reported a net profit of 📌₹55 crore for the December quarter. Revenue of the quarter increased by📌 51.5% from last year to Rs559.4 crore.
Open FlipIndia slashes November gold import estimates by📌 $5 billion, correcting a record-high preliminary calculation of📌 $14.8 billion to $9.84 billion, reducing the trade deficit by a similar amount. India spent a record📌 $47 billion on gold imports in the first 11 months of 2024, driven by increased demand during the festival and wedding season.
Open FlipArnaav Fashions share price reached a one-year high of ₹70.10 on Wednesday, surging 3.90% intraday, after the company secured a ₹17.25 crore term loan to implement its expansion and modernization plan, which is expected to increase production capacity and reduce energy cost. Arnaav Fashions share price has gained nearly 1.22 per cent in the last one year and over 49 per cent in the last six month.
Open FlipAdani Group Chairman Gautam Adani has found support from US Congressman Lance Gooden over the alleged bribery scandal, for which he was indicted in the US along with other officials of the conglomerate in November 2024. In a letter written to US Attorney General Merrick Garland, Gooden criticised Biden Administration's decision to investigate Adani, saying that this might damage US-India relation.
Open FlipZomato's stock has dropped 10% in a week, facing resistance near its all-time high zone, with bearish divergence and weakening momentum, Zomato encountered resistance near its all-time high zone of Rs 298-304 and headed downwards. The stock is expected to find stability around the 230-235 zone, serving as a strong support level, and a cautious "wait and watch" approach is recommended.
Open FlipKalyan Jewellers shares dropped by 6.2 per cent in early trading on Wednesday, January 8, reaching a low of ₹677.55 on the BSE. The stock declined after investors engaged in profit booking, following the company’s Q3 update that highlighted a year-on-year revenue growth of nearly 41 per cent. Bbrokerage firm Motilal Oswal recommends 'buy' rating with a target price of ₹850.
Open FlipThe SME IPO of Delta Autocorp was fully subscribed on Wednesday with overall subscriptions of 27.93 times by 12:04 PM on the second day of bidding. The company aims to raise Rs 55 crore through the SME IPO, with the shares set to list on the NSE SME platform. The retail portion of the issue was subscribed by 48.24 times, while the issue was subscribed 16.72 times in the NII category.
Open FlipKKR and Ontario Teachers' Pension Plan will invest up to Rs 5,500 crore in Highways Infrastructure Trust, funding the acquisition of two major road portfolios worth over Rs 15,000 crore, making it one of the biggest owners of operating road assets in India. KKR will invest Rs 3,576 crore, while OTPP will contribute Rs 1,695 crore.
Open FlipSebi has asked some IPO-bound companies to disclose whistleblower complaints against them or their promoters, following rare interventions to stop IPOs due to disclosure lapses. This move aims to inform investors and prevent potential fraud, with companies like Denta Water and Smartworks Coworking Space already making such disclosures.
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