Mumbai: Analyst downgrades in earnings estimates of Indian companies for FY24 outnumbered that of upgrades in the past four weeks after the June quarterly results. Out of the Nifty 100 companies, 41 including UPL, Tech Mahindra, Vedanta, SRF, ACC, Grasim, and Tata Steel, among others, witnessed Earnings Per Share (EPS) downgrades for FY24, while 32 … Read more
New Delhi, Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts. Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is … Read more
The sharper-than-expected 23.9% decline in june quarter gdp suggests recovery could take a while and fy21 may see a steeper contraction than earlier estimated. India will need to grow at 8% over the remaining three quarters just to make up the deficit and avoid a full-year contraction. A look at the numbers: Source link
Mumbai/ Kolkata: JSW Steel exported nearly 53% of its total sales volume during the June quarter of FY21. A drop in domestic demand, disruption in supply chain and acute shortage of construction labour were among the factors that led one of the top steelmakers to boost export volumes during the quarter. “The company achieved a … Read more
Shares of Indian Hotels and Federal Bank hogged the limelight on Monday after latest shareholding data showed that ace stock picker Rakesh Jhunjhunwala bought shares in these firms during the April-June period. Indian Hotels closed 2.64 per cent higher at Rs 81.65 on the BSE, while Federal Bank settled nearly 3 per cent up at … Read more
Mumbai: Bajaj Finance said on Monday it may consider additional accelerated provisioning for Covid-19 in the first quarter of fiscal year 2021 to further strengthen its balance sheet. The consumer goods financier had provided Rs 900 crore as contingency provision in the quarter ended March towards Covid-19. In an exchange filing, the company said its … Read more