After billionaire Mukesh Ambani-led conglomerate Reliance Industries (RIL) reported largely in-line earnings for the March quarter, driven by an improvement in O2C throughput, brokerages have increased target prices amid positive comments from the management around capex moderation and hints of potential telecom tariff hikes.RIL shares, which have gained around 14% in the calendar year so far.
Open FlipPatel Engineering on April 22 said it launched a qualified institutional placement (QIP), and set a floor price for the QIP at Rs 59.50 per share. The company’s board authorised the opening of the issue on April 22. The company in a board meeting in March had approved the resolution to raise not more than Rs 500 crore through the QIP route.
Open FlipIndia's stock market has experienced a remarkable ascent, surpassing Hong Kong to secure the 4th position globally with a substantial m-cap of $4.33 trillion. The AUM of Indian MFs industry have also crossed the Rs 50 trillion landmark. However, the phenomenal rise in equities and SIPs in MFs has led to undue attention to equities. And investors have ignored debt allocation in their portfolios.
Open FlipQ4 Results Today: A total of 16 companies are scheduled to release their financial results for the fourth quarter of FY24 (Q4 FY24) today, April 23 (Tuesday).Companies to post Q4 results todayTata Consumer Products Ltd, ICICI Prudential Life Insurance Comp Ltd, Tata Elxsi Ltd, Mahindra & Mahindra Financial Services Ltd, Multi Commodity Exchange of India Ltd, Cyient DLM Ltd, Huhtamaki India Ltd.
Open FlipIT company Persistent Systems' share price on Monday tumbled 9.7% to Rs 3,510.60 on the BSE, after the company guided for flat Ebit margins in FY25. This was the biggest single-day drop in the company's stock price in the last six years. The company also reported a flat Ebit margin of 14.5% during the March quarter, against a market expectation of margin improvement during Q4.
Open FlipIndia’s markets regulator found a dozen offshore funds invested in Adani group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on Monday. They declined to be named as they not authorised to speak to media. SEBI and the Adani Group did not immediately respond to emailed requests for comment.
Open FlipHemang Kapasi, the head of equities at Sanctum Wealth, is convinced that India is on track to be a $10-trillion economy and is bullish on five segments over the medium term. Financialisation of savings, private capital expenditure, an increase in discretionary spending, real estate cycle and development of digital as well as physical infrastructure are the themes he is betting big on. K
Open FlipNone of the G7 members are on track to meet their existing emission reduction targets for 2030, according to a new analysis released on Tuesday. The analysis by Climate Analytics, a global climate science and policy institute, comes ahead of the G7 climate, energy, and environment ministers' meeting in Venaria Reale, Italy, during April 28-30.
Open FlipShares of Grill Splendour Services were off to a slow start on its debut on April 23 after it listed at Rs 121.3, a premium of 1.08 percent over the issue price of Rs 120 on the NSE SME platform. The listing missed grey market estimates, where shares were trading at Rs 128. The Rs 16.47-crore public offer is a purely a fresh issue 13.73 lakh shares.
Open FlipReliance Industries Ltd surpassed market expectations in the fiscal fourth quarter, posting a net profit of Rs 21,243 crore, fueled by a rebound in its core oil-to-chemicals (O2C) business. Strong performances in the O2C, oil & gas, retail, and Jio segments also impressed analysts. Moreover, the reduction in RIL’s net debt resulting from capital raises and asset divestitures has boosted.
Open FlipLeading FMCG company Tata Consumer Products will announce its Q4 results later today and analysts expect the company to report healthy growth in both bottom line and topline. Revenue is expected to grow by 11% year-on-year, driven by 17% year-on-year growth in the foods business, a 7% year-on-year growth in Tata Coffee (subsidiary) and 7% year-on-year growth in the India beverages business.
Open FlipFollowing a 17% rally in the previous trading session, shares of Tejas Networks, a Tata Group backed company, jumped another 15.5% in today's early morning trade to hit a new all-time high of ₹1,046.95 apiece. This stellar rise was in response to the company's stellar performance in Q4FY24, which was released post-market hours on Monday.
Open FlipVodafone Idea FPO: Bidding for the follow-on public offer (FPO) of Vodafone Idea Ltd is going to end today. As per the Vodafone Idea FPO subscription status, investors of the QIB and NII segments have responded positively to this follow-on offer of the Indian telecom major. It was a strong response by QIB and NII investors that enabled the FPO to get fully subscribed just a few hours before.
Open FlipShares of Mahindra Logistics fell 1.4 percent at the open on April 23, a day after the logistics player reported a net loss of Rs 11.9 crore for the March quarter. Mahindra Logistics had reported a profit of Rs 0.20 crore in the year-ago period. Its consolidated revenue, however, grew 14 percent YoY to Rs 1,450.8 crore. EBITDA declined 11.1 percent to Rs 56.6 crore.
Open FlipShares of Hatsun Agro Products soared 11 percent in the early trade on April 23 after the Chennai-based company's net profit doubled on year to Rs 52 crore in the January-March quarter. At 9.19 am, Hatsun Agro was trading at Rs 1,112.50 on the NSE. The strong Q4 show also trigged a spike in volumes in the counter, as 93,000 shares changed hands within minutes.
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