Citi replaces RIL with BPCL post Q3 earnings
Tue, Feb 20, 2024 12:36 PM

Citi replaces RIL with BPCL post Q3 earnings

Citibank recently released a report on the latest earnings season of Indian markets, stating that the overall growth in earnings for BSE-100 and Nifty was at 18% and 13% year-on-year respectively. The key driver of this growth was seen in the Industrials and Energy sectors. Citi expects Nifty earnings to grow by 13%-14% between FY24E and FY26E.

Open Flip
Kotak Mahindra Bank shares rally as management rejig reduces attrition risk
Tue, Feb 20, 2024 12:35 PM

Kotak Mahindra Bank shares rally as management rejig reduces attrition risk

Kotak Mahindra Bank's shares rose 2% after announcing a reshuffle in top management. KVS Manian and Shanti Ekambaram were elevated to joint managing director and deputy MD, respectively. This move quells concerns over Manian potentially leaving for Federal Bank. Devang Gheewalla will replace outgoing CFO Jaimin Bhatt, while Milind Nagnur will now hold the positions of CTO and COO.

Open Flip
What’s after Revlimid for Dr Reddy’s, Cipla, and Sun Pharma?
Tue, Feb 20, 2024 12:33 PM

What’s after Revlimid for Dr Reddy’s, Cipla, and Sun Pharma?

Frontline pharma majors - Cipla, Sun Pharma, and Dr Reddy’s - have seen a surge in earnings due to the high-margin blockbuster cancer drug Revlimid. However, as the patent for Revlimid is set to expire in 2026, these companies will need to find other sources of revenue to maintain growth. Dr Reddy's focuses on acquisitions and faster product filings.

Open Flip
Zee, Sony huddle in dramatic twist to salvage merger
Tue, Feb 20, 2024 12:32 PM

Zee, Sony huddle in dramatic twist to salvage merger

Sony and Zee Entertainment Enterprises (ZEEL) are in last-ditch talks to revive their $10 billion merger, after the deal was officially called off on January 22. Major differences remain, however, including a $300 million write off on cricket rights and disagreements over certain conditions precedent. The success of the negotiations is still uncertain, with both sides sticking firmly.

Open Flip
HFT Scan: Sula Vineyards and Tijaria Polypipes in focus
Tue, Feb 20, 2024 12:31 PM

HFT Scan: Sula Vineyards and Tijaria Polypipes in focus

On February 19, high-frequency trading, which uses sophisticated algorithms and computers to execute quick trades, was active in the stocks of Sula Vineyards, Tijaria Polypipes, and Coffee Day Enterprises. Sula Vineyards and Coffee Day Enterprises saw stock prices decrease, while Tijaria Polypipes saw an increase. Retail investors are often attracted to these fundamental triggers.

Open Flip
Daily Voice: Marcellus' Krishnan sees interest rate cut in 2HFY25 provided
Tue, Feb 20, 2024 12:31 PM

Daily Voice: Marcellus' Krishnan sees interest rate cut in 2HFY25 provided

Krishnan V R of Marcellus Investment Managers believes that given the current macroeconomic conditions in India, a rate cut by the Reserve Bank of India (RBI) followed by a rate cut by the US Federal Reserve are likely towards the second half of the next financial year. With inflation expected to remain on a downward trajectory and go below 4 percent, Krishnan believes the Indian economy.

Open Flip
F&O Watch for February 20: Biocon makes the NSE Ban list
Tue, Feb 20, 2024 12:30 PM

F&O Watch for February 20: Biocon makes the NSE Ban list

Several Indian stocks have been placed on the National Stock Exchange's futures and options (F&O) ban list for February 20 due to exceeding the market-wide position limit. These include Biocon, Indus Towers, and Canara Bank. Other stocks may also enter the list if they cross the 95 percent limit, while some may exit as their limit nears 80 percent.

Open Flip
NPR Finance Standalone December 2023 Net Sales at Rs 1.68 crore
Tue, Feb 20, 2024 12:30 PM

NPR Finance Standalone December 2023 Net Sales at Rs 1.68 crore

NPR Finance reported its standalone quarterly results, with net sales at Rs. 1.68 crore in December 2023, a decrease of 60.24% from the previous year. However, EBITDA increased by 110.42%. The company's shares on BSE closed at 24.03 on February 19, 2024, showing a return of 77.21% over the last 6 months and 51.13% over the last 12 months.

Open Flip
Dion Global Standalone December 2023 Net Sales at Rs 3.06 crore
Tue, Feb 20, 2024 12:29 PM

Dion Global Standalone December 2023 Net Sales at Rs 3.06 crore

Dion Global Solutions reported its standalone quarterly results for December 2023, with a net sales increase of 32.74% from the previous year. However, there was a significant decrease in net profit (-98.04%), EBITDA (-94.05%), and EPS (from Rs. 0.55 to Rs. 0.01). The company's shares closed at Rs. 2.25 on May 18, 2020, on the BSE.

Open Flip
Capital One to acquire Discover Financial Services in $35.3 billion deal.
Tue, Feb 20, 2024 12:28 PM

Capital One to acquire Discover Financial Services in $35.3 billion deal.

Capital One, a major consumer lender backed by Warren Buffett, announced its plans to acquire credit card issuer Discover Financial Services in an all-stock deal worth $35.3 billion. The merger is aimed at creating a strong payments network, and would make Capital One the fourth-largest player in the US credit card market. However, the deal may face regulatory scrutiny.

Open Flip
Trade Spotlight: Your game plan for Container Corporation of India!
Tue, Feb 20, 2024 12:27 PM

Trade Spotlight: Your game plan for Container Corporation of India!

The market has been steadily rising for five consecutive days, but certain candlestick patterns suggest a possible slowdown and consolidation in the near future. Experts advise that the Nifty 50 may find support at 22,000 and resistance at 22,200 and 22,300 levels. Container Corporation of India, JBM Auto, and Sonata Software have outperformed the market and show positive trends.

Open Flip
Nifty 50, Sensex today: What to expect from Indian stock market in trade.
Tue, Feb 20, 2024 12:25 PM

Nifty 50, Sensex today: What to expect from Indian stock market in trade.

The Indian stock market is expected to open flat on Tuesday, following mixed global cues and a tepid start for the benchmark index. The Nifty has formed a high wave or doji candle pattern, indicating potential consolidation or a minor dip in the short term. However, the near-term trend remains positive and Nifty is likely to continue breaking through resistance levels.

Open Flip
CIE Automotive India falls 2% after net profit slips 9% for Dec quarter
Tue, Feb 20, 2024 12:25 PM

CIE Automotive India falls 2% after net profit slips 9% for Dec quarter

CIE Automotive India stock sank two percent in trade on February 20 after the net profit for the December quarter fell 9.1 percent on-year. The automotive ancillary company recorded a consolidated net profit of Rs 177 crore for the quarter ended December 2023, falling 9.1 percent compared to the year-ago period despite healthy operating numbers.

Open Flip
Gold inches lower in thin holiday trade as investors seek more Fed cues
Tue, Feb 20, 2024 12:22 PM

Gold inches lower in thin holiday trade as investors seek more Fed cues

Gold prices decreased in early Asian trading due to a stronger dollar and rising treasury yields. Traders are waiting for more information from the U.S. Federal Reserve's last meeting, with all eyes on the minutes being released on Wednesday. Despite progress with inflation, one official says there is still work to be done to maintain stable prices. Another has cautioned against delaying rate.

Open Flip
JSW Steel eyes acquisition of 20% stake in Australian coal mine
Tue, Feb 20, 2024 12:22 PM

JSW Steel eyes acquisition of 20% stake in Australian coal mine

JSW Steel is in talks to acquire a 20% stake in the Blackwater coal mine in Australia, owned by Whitehaven Coal. The deal, valued at $750 million to $1 billion, could help secure coking coal supply for JSW's expansion plans. Whitehaven had announced its intention to sell a stake and other interested parties include AvidSys Group and Japanese trading houses. JSW aims to increase production capacity

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon