Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday’s trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4. Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline’s … Read more
Shares of PepsiCo bottler Varun Beverages (VBL) jumped 5.5% on BSE today to the day’s high of Rs 1,558.45 after reporting an increase of 25% year-on-year (YoY) in March quarter PAT to Rs 548 crore. The brokerages have increased the target price for the stock post earnings announcement. The company’s revenue from operations in Q1 … Read more
Billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. is considering seeking about $1.2 billion in a planned initial public offering of US aluminum products maker Novelis Inc., people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, … Read more
Mumbai: Larsen & Toubro, the $23-billion engineering to information technology conglomerate, has introduced environmental, social and governance (ESG) goals into the remaining tenure of one of its loans from Bank of America (BofA), essentially agreeing to pay a higher rate in case it does not meet its water usage and greenhouse gas emission targets in … Read more
“If you really look at their language, people were expecting that it is a temporary pause and there could be a hike depending on the data and stuff like that but that was very natural to say especially when you fought so long for getting inflation into control, you just do not let it slip … Read more
Bank of America (BofA) is focusing on supply chain financing amid accelerated demand caused by global disruptions, such as renewed Covid curbs in China’s industrial clusters and the Russian invasion of Ukraine, with the latter upending normal schedules at multiple European manufacturing bases. Bank of America, which globally lends nearly $30 billion under this head, … Read more
Investors poured the most money into cash since April 2020 on fears of a looming recession, but stocks could see further declines as they don’t fully reflect that risk, say Bank of America Corp strategists. Even as major benchmarks bounced off last month’s lows, the bank’s report citing EPFR Global data showed cash funds received … Read more
Bank of America Corp. expects initial public offerings in India will regain their recent momentum as soon as in the first quarter of next year, bolstered by the underlying strength of the market. “I think IPOs have taken a breather but it will be probably three to six months away from coming back,” Debasish Purohit, … Read more
NEW YORK: The 10.7% rally in the S&P 500 from its June lows is stumbling as it runs into what has historically been the toughest month for the U.S. stock market, sparking nerves among some fund managers of a broad sell-off in September. The S&P has been in a bear market since plummeting early this … Read more
BofA Securities expects shares of State Bank of India and Bank of Baroda to see a valuation re-rating, on account of continued improvements in their growth profile. These state-run banks could also benefit from the capex cycle, the brokerage said. The brokerage has a ‘buy’ rating on both and Bank of Baroda, with target prices … Read more