Shares of Campus Activewear on Wednesday rallied 13% after the company reported a 42.6% YoY increase in its PAT for the fourth quarter of the financial year 2024. The company also posted a 4.6% YoY increase in revenue at Rs 363.9 crore while the EBITDA rose by 16% at Rs 66.4 crore vs Rs 57.1 … Read more
Hindalco Industries, the Aditya Birla Group‘s metals flagship company, is likely to post muted revenues even though profitability is expected to edge higher. The company will announce its fourth quarter results later today. Revenue from operations during the January-March 2024 period is likely to decline up to 6% year-on-year, while profit growth is seen up … Read more
Various widely tracked companies like ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi’s lab will be releasing their March quarter report cards this week. Here’s a list: May 20ONGC, Indian Railway Finance Corporation (IRFC), Bharat Electronics (BEL), Oil India, SAIL, Deepak Nitrite, Whirlpool of India, … 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
Indian market is expected to consolidate on Wednesday tracking mixed global cues. The Nifty future closed negative with losses of 0.78% at 22375 levels on Tuesday. India VIX was up by 2.71% from 16.60 to 17.05 levels. On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22800 strikes … Read more
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one year. ETMarkets spoke to Sonam Srivastava, Founder & CEO of Wright Research, to understand the factors behind the rally and more. Edited excerpts: 1. The Nifty Metal index has been … Read more
Mumbai: The dynamics of stock leadership on Dalal Street has undergone a change of late with stalwarts of the recent past taking a backseat and giving way to new stars. Gone are the days when bluechip consumer, private financials and information technology (IT) dominated the performance of the Nifty for nearly a decade. Now, the … Read more
Indian market is likely to trade higher on Tuesday following positive global cues. The Nifty futures closed positive with gains of 0.02% at 21079 levels on Monday. India VIX was up by 2.31% from 12.47 to 12.75 levels. Volatility was slightly high but created momentum for new price territory in the market. Positive setup was … Read more
Sanjiv Bhasin, Director, IIFL Securities, says “Idea can be a very good takeover target or there could be a strategic buyout. Idea is going to go to 22-25. So, take a small punt. I think Idea can be a very big wealth creator if my call is correct. So, 22-25 on Idea betting on a … Read more
The record-breaking rally in Nifty may extend to 19,800 levels, said technical analysts. The index closed at an all-time high of 19,564.50 on Friday as foreign portfolio investors stayed bullish on the market. Stocks such as ICICI Bank, National Aluminium, Tech Mahindra, Hindalco, Bajaj Finance, Tata Steel, Infosys, Glenmark, Zee, and Hero Motocorp have formed … Read more