Over the last two years, strong growth in India Inc. earnings has been driven by capital investments across sectors such as infrastructure, real estate, manufacturing, etc, which reflects more in the earnings of mid- and small-cap companies compared to their large-cap peers. Given growth capex is expected to continue shortly, it can drive a peak corporate profit cycle.
Open FlipđVedanta Ltd and Hindustan Zinc Ltd are two standout metals. đCoal India and Gail (India) have yielded strong 6% dividend returns during the last 12 monthsđBharat Petroleum Corporation Ltd, Oil and Natural Gas Corporation, Piramal Enterprise, and ITC Limited have yielded handsome returns of 4% each đDividend yield during last one year by these companies ranges between 2-20%.
Open FlipAstraZeneca said on Tuesday it will buy clinical-stage biopharmaceutical company Fusion Pharmaceuticals Inc for about $2 billion in cash to boost its oncology portfolio. The drugmaker will pay $21 per Fusion share, a premium of more than 97 per cent to the U.S.-listed company's closing price on Monday. AstraZeneca will also pay a non-transferable contingent value right of $3 per share.
Open FlipPaytm has been in the news ever since the Reserve Bank of India (RBI) directed parent company One97 Communications to stop adding new customers to its Paytm Payments Bank from March 15, 2024 citing compliance lapses. The RBI's ban also cast a shadow on Paytm's overall business, including UPI (unified payments interface) transactions on its app, the business it was built on.
Open FlipBitcoin fell by as much as 5.7% on Tuesday in its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks. The price was last down 5.25% at $63,806, having hit a two-week low of $63,555, while ether dropped 5.1% to $3,326. Bitcoin is still showing a 52% gain for the year so far, as investors have piled into U.S. exchange-traded funds.
Open FlipJapanese brokerage firm Nomura is cautious about tyre companies' stocks as a sharp jump in natural rubber prices poses a threat to the margins of companies in the tyre sector. Meanwhile, the brokerage also highlighted that weak demand and rising commodity price could normalise margins faster for the sector. The brokerage firm said that natural rubber prices in the domestic market have jumped.
Open FlipInox Green Energy Services on Tuesday said its subsidiary I-Fox Windtechnik India Pvt Ltd has bagged an order worth Rs 39.5 crore for restoration of 33 wind turbine generators (WTGs) of 1.5MW each from NLC India. The scope of the contract comprises supplies of materials/spares and other activities for the restoration of 33 WTGs within a period of eight months.
Open FlipBEML share price has experienced a remarkable surge of up to 136 per cent over the past year, but the stock may still have room for further growth. Brokerage firm Prabhudas Lilladher has initiated coverage on the stock with a 'buy' recommendation, pegging the target price of âš3,345, implying a 16 per cent upside potential and valuing it at a P/E (price-to-earnings ratio) of 26 times FY26E.
Open FlipHG Infra Engineering shares climbed 5.4% to Rs 942 in Tuesday's trade on BSE after the company, in a joint venture (JV) with Stockwell Solar Services, received four orders worth Rs 1,026 crore for solar business.Jodhpur Vidyut Vitran Nigam Limited has awarded four contracts to the JV consortium of HG Infra Engineering along with Stockwell Solar Services Private Limited.
Open FlipState-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has bagged an order for setting up 1,600 MW Singrauli Supercritical Thermal Power Plant (STPP) Stage-III from NTPC. The plant will be set up adjacent to the existing 2,000 MW thermal power station (TPS) at Singrauli in Sonbhadra district of Uttar Pradesh, BHEL said in a statement.
Open FlipIndian oil refiners are on track to take the most American crude in almost a year after tighter enforcement of US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million barrels of April-loading US crude so far this month.
Open FlipThe consortium of SpiceJet's chairman and managing director Ajay Singh and Busy Bee Airways, associated with EaseMyTrip's chief executive officer Nishant Pitti, has increased their bid for bankrupt carrier Go First to around Rs 1,800 crore, sources aware of the ongoing proceedings told Moneycontrol. "The Committee of Creditors (CoC) reached out to both parties that had shown interest.
Open FlipCoforge, previously identified as NIIT Technologies, declared its intent to raise Rs 3,200 crore in funds. This determination emerged following a board meeting convened on Saturday, March 16, according to a company statement submitted to the exchange. This decision comes in the wake of Coforge's withdrawal of plans for a $750 million initial public offering (IPO) in the United States.
Open FlipThe country's merchandise exports are expected to reach USD 450 billion by the end of this fiscal despite geo-political challenges like the Red Sea crisis, newly elected president of apex exporters body FIEO Ashwani Kumar said on Tuesday. He said that the need of the hour is to address the Red Sea crisis challenges by ensuring the availability of marine insurance.
Open FlipAmid recent market movements, public-sector bank stocks have surged while private-sector banks have experienced a retreat, largely due to consolidation efforts. The Nifty Private Bank index has seen a decline of almost 7 percent year-to-date (YTD), in contrast to the significant over 17 percent surge in the Nifty PSU Bank index.
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