Following a 12% year-on-year (YoY) decline in Infosys‘ March quarter consolidated net profit and lower-than-estimated revenue, brokerages have slashed their target prices while retaining a ‘Buy’ rating on the stock. Nuvama Institutional Equities and Emkay Global revised their targets downward amid topline miss and prevailing uncertainties. On Thursday, India’s second-largest IT services company by market … Read more
Amid hopes of a recovery in central government capex in H2 and the major announcements from the Union Budget, which is less than two months away, rail stocks were trading higher on Wednesday. Titagarh Rail Systems shares led the rally and were up about 9%. Texmaco Rail shares were trading 6% higher, while those of … Read more
Mumbai : Life Insurance Corporation of India (LIC), the country’s largest insurer, is changing its growth strategy.The June quarter performance shows a clear focus on growth, even as it impacts margins. In the first quarter of FY25, LIC reported a 24% year-on-year increase in its value of new business (VNB) to ₹1,600 crore, largely driven … Read more
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 Zee Entertainment Enterprises rose nearly 3% to Rs 144.4 in Tuesday’s trade on BSE after the firm reported a profit of Rs 13 crore in the March quarter of FY24, after reporting a loss of Rs 196 crore in the year-ago period. Moreover, the company’s shares closed over 4% higher in a special … Read more
Mumbai: India’s benchmark indices ended nearly 1% higher on Thursday, in a late surge, driven by short covering ahead of the expiry of Nifty‘s weekly futures and options contracts. NSE’s Nifty rose 203.3 points or 0.92% to close at 22,403.85. BSE’s Sensex rose 676.69 points or 0.93% to end at 73,663.72. Both indices fell as … Read more
Mumbai: Maruti Suzuki‘s continued dominance on Dalal Street as investors’ most preferred domestic automobile maker faces challenges with rival Hyundai Motor preparing for a debut on Indian bourses. The South Korean car maker‘s listing in the country could weigh on the premium valuations that Maruti’s shares enjoyed over other auto companies so far, said fund … Read more
While the smallcap and midcap indices have already been hitting new peaks every other day, it took the twin triggers of exit poll and GDP data for Nifty to scale above its previous peak of 20,222 hit on September 15 today. While the Q2 GDP growth rate at 7.6% surpassed all expectations, Street favourite BJP … Read more
“I think if we look at valuations of individual companies, etc, in the last three months we have seen many of these company prices have moved up by say 20%, 30%, etc, so I think the valuation comfort is no longer there,” says Krishna Kumar Karwa, MD, Emkay Global.It has been a heck of a … Read more
India’s annual retail inflation for March eased below the central bank‘s upper tolerance level for the first time this year, as food prices softened. Annual retail inflation eased to 5.66% in March from 6.44% in the previous month, government data showed on Wednesday. The Reserve Bank of India targets a range of 2%-6%. A Reuters … Read more