Kalyan Jewellers Q3 results: Net profit up 21% at Rs 180 crore
Wed, Jan 31, 2024 1:21 PM

Kalyan Jewellers Q3 results: Net profit up 21% at Rs 180 crore

Kalyan Jewellers reported a 21% increase in consolidated net profit for the December quarter of FY24 compared to last year. Revenue grew by 34% to Rs 5,223 crore while EBIDTA increased by 13%. Middle East operations saw a 6% growth in revenue and a PAT of Rs 14 crore. Candere's revenue decreased to Rs 29 crore but incurred a lower loss of Rs 1.6 crore.

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Coromandel International trades flat: What dragged the stock down 15%?
Wed, Jan 31, 2024 1:19 PM

Coromandel International trades flat: What dragged the stock down 15%?

Coromandel International stock traded flat after weak Q3 results and fresh guidelines from the Department of Fertiliser. The company's share price fell 8% on January 30 and has dropped 15% this year. New guidelines limit maximum profit margins for fertiliser companies, with penalties for unreasonable profits and adjustment against future subsidies.

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Jefferies maintains a ‘Buy’ rating on L&T and foresees 14% upside
Wed, Jan 31, 2024 1:18 PM

Jefferies maintains a ‘Buy’ rating on L&T and foresees 14% upside

Jefferies maintains a Buy rating on L&T with a revised price target of Rs 4,135 per share, citing anticipated growth in core E&C EBITDA and strong order flow. Despite a slight decline in core E&C margin, the management has raised FY24E order flow guidance to over 20% YoY. The report also mentions potential risks such as concerns about capital allocation and government infrastructure spending.

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Cochin Shipyard shares surge 8%, hit 52-week high on robust Q3 earnings
Wed, Jan 31, 2024 1:17 PM

Cochin Shipyard shares surge 8%, hit 52-week high on robust Q3 earnings

Cochin Shipyard saw a surge in its shares by 8% on BSE after reporting a net profit of Rs 244.4 crore for the third quarter of FY24, compared to a net loss of Rs 110.4 crore in the same period last year. The company's revenue also increased by 64.7% to Rs 1,056.4 crore. It declared a second interim dividend and its stock has seen significant gains in the past six months.

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Dr Reddy's shares rise 4% on Q3 PAT jump but brokerages remain unmoved
Wed, Jan 31, 2024 1:16 PM

Dr Reddy's shares rise 4% on Q3 PAT jump but brokerages remain unmoved

Dr Reddy's Laboratories saw a 4% jump in its share price and reached a 52-week high of Rs 6,060 on the NSE following its strong Q3 earnings. Major domestic brokerages like Kotak Institutional Equities, Motilal Oswal and Nuvama maintain a positive outlook on the stock despite highlighting potential challenges. The company reported an 11% YoY increase in net profit and a 7% rise in revenue.

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HFT Scan: Jindal Stainless, Kirloskar Electric Company see some actions
Wed, Jan 31, 2024 1:14 PM

HFT Scan: Jindal Stainless, Kirloskar Electric Company see some actions

High frequency trading firms took advantage of volatility in the stock market on January 30, particularly in Dhanlaxmi Bank, Jindal Stainless, and Kirloskar Electric Company. These firms use complex algorithms and speedy computers to rapidly execute trades and have recently been targeting small and illiquid stocks. Retail investors are often drawn to these stocks due to the high trading volumes.

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ITC shares may remain range-bound till final Budget after election
Wed, Jan 31, 2024 1:10 PM

ITC shares may remain range-bound till final Budget after election

Shares of ITC have decreased by 6% in January and may remain stagnant until the new government presents its Budget in July. Previous election years have not seen changes in cigarette taxes, but there may be changes to the National Calamity Contingent Duty. The budget is expected to have minimal impact on ITC's earnings and shares, with a target price of Rs 520 in the base case scenario.

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Sebi reviewing small, mid-cap funds' stress tests: Report
Wed, Jan 31, 2024 1:09 PM

Sebi reviewing small, mid-cap funds' stress tests: Report

SEBI is concerned about the potential risks to small and mid-cap stock funds due to high inflows and wants them to conduct stress tests to ensure liquidity in case of large outflows. The market regulator has also discussed the possibility of increasing cash reserves or investing in larger stocks as a defensive measure. India's economic growth has driven up prices of small and mid-cap stocks.

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Top sectors that MF increased exposures, lately
Wed, Jan 31, 2024 1:07 PM

Top sectors that MF increased exposures, lately

The Indian equities market has experienced high volatility in 2024 after a strong start. Fund managers are reevaluating their portfolios, particularly in an election year. The capital markets, non-ferrous metals, IT services, realty, power, gas, and aerospace & defense sectors have seen the highest growth in MF investments over the past three months, indicating their potential for future growth.

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Budget 2024: What stock investors, salaried employees expect from FM
Wed, Jan 31, 2024 1:06 PM

Budget 2024: What stock investors, salaried employees expect from FM

Budget 2024 is highly anticipated for its potential impact on personal finance, especially for salaried employees. Expectations include reforms to boost market confidence, such as reduction of Security Transaction Tax (STT) and Long-Term Capital Gains (LTCG) tax. There may also be relief from double taxation on dividends and changes in income tax thresholds and rates.

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World Street Shenanigans!
Wed, Jan 31, 2024 1:05 PM

World Street Shenanigans!

On this edition of World Street, Elon Musk's position as the world's richest person is challenged as a court voids his $55 billion payday package. The US government takes action against Chinese hackers while Pfizer sees a positive development. Starbucks struggles with sales, leading to job cuts and a decrease in revenue forecasts. HSBC is fined for customer protection failures.

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Stocks in news: PB Fintech, Maruti, L&T, Sun Pharma, TCS
Wed, Jan 31, 2024 1:04 PM

Stocks in news: PB Fintech, Maruti, L&T, Sun Pharma, TCS

Equity indices failed to capitalize on Monday’s gain and shed nearly 1% on Tuesday due to sharp selloff in select heavyweights in final hour. In today's trade, PB Fintech, Sun Pharma, Maruti Suzuki, Ambuja among other stocks will be in focus. PB Fintech reported strong numbers for the quarter ended December, with the company posting a consolidated net profit of Rs 38 cr, against a loss year ago.

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DTDC enters Malaysian market, strengthens presence in Southeast Asia
Wed, Jan 31, 2024 1:02 PM

DTDC enters Malaysian market, strengthens presence in Southeast Asia

DTDC, a logistics company, has entered the Malaysian market through its subsidiary and opened an office in Kuala Lumpur. This expands its global footprint and offers trans-shipment services to Southeast Asia and Australia. The company aims to tap into Malaysia's strong economic growth potential and increase bilateral trade between India and Malaysia.

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Sebi reviewing small, midcap MFs' stress tests: Report
Wed, Jan 31, 2024 1:00 PM

Sebi reviewing small, midcap MFs' stress tests: Report

India's markets regulator SEBI is reviewing the liquidity and risk management strategies of mutual fund schemes investing in small and mid-cap stocks. With heavy inflows and record performance of these stocks, SEBI wants to ensure they can handle sudden market downturns or outflows. Discussions are also being held about having a buffer of large-cap stocks for defensive measures.

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Navigating market uncertainties: patience, psychology, and prudence
Wed, Jan 31, 2024 1:00 PM

Navigating market uncertainties: patience, psychology, and prudence

Market timing is not a reliable strategy for retail investors. SIPs have shown marginal differences in returns regardless of when they started, proving that long term investing is more important. However, investing in stocks is also a psychological game, and an individual's behavior can greatly impact their returns. The current market is expensive, so it's best to be cautious.

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