on Wednesday reported a 44% year-on-year (YoY) decline in its standalone profit after tax to Rs 277 crore for the quarter ended December 31, 2022. The company had reported a net profit of Rs 492 crore in the same quarter of the previous fiscal year. However, its revenue from operation grew 15% YoY at Rs … Read more
Most analysts and experts are predicting the government would go heavy on infrastructure in the upcoming Budget to drive the overall growth of the economy. “We believe the government might prefer to increase spending on infrastructure which could have a multiplier effect on the economy,” Umang Papneja, CEO, Julius Baer India, told ET Markets. Money … Read more
Against this backdrop, key themes such as infra, BFSI, FMCG, and metals will be in focus in the run-up to the Budget and thereafter. The brokerage expects the overall capital expenditure for the infra segment in the Budget to increase by 20% year-on-year (YoY). The focus will be on the development activities such as roads … Read more
“The internet will soon cost lesser than the price of a vada pav,” roared Mukesh Ambani in September 2016 at the launch of Reliance Jio, the latest telecom entrant in an overcrowded market. One gigabyte of data used to cost about Rs225 in those days, and vada pav, Rs12. Fast forward a few years – … Read more
Global brokerage Morgan Stanley maintained its overweight rating on , JPMorgan remained underweight on D-Mart and , BofA Securities maintained its buy rating on and Citigroup maintained sell call on . We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on ICICI Prudential: Overweight | Target … Read more
Brokerages have remained majorly positive on the cement pack, expecting companies to report decent growth in volumes, revenue and profit after tax (PAT) in the September quarter of the current fiscal year. However, the second is traditionally a soft quarter for cement producers from the demand point of view, considering the fact that monsoon hits … Read more
“A short term breakout has already taken place on the Nifty as well on the Bank Nifty,” said Nooresh Merani, independent technical analyst. Edited excerpts: The Nifty scaled a very important level of 17800 while the Bank Nifty touched 40,000 this week. What should we watch out for next ? A short term breakout has … Read more
Shares of Adani Group’s flagship firm hit a new peak on Friday after the announcement of its inclusion in the Nifty50 index in the upcoming rejig. Adani Enterprises led by Gautam Adani, Asia’s richest and world’s third, will become part of Nifty50 from September 30, its upcoming periodical review. Adani Enterprises will replace , a … Read more
Mumbai , the flagship company of the Adani Group, will be included in the Nifty 50 index in place of , the National Stock Exchange said on Thursday. After , this would be the second stock from billionaire Gautam Adani‘s group to be included in the Nifty. The changes become effective from September 30. Adani … Read more
The June quarter earnings season saw India Inc reporting low single digit QoQ growth in topline and double digit bottomline decline with pressure on gross margins. As the corporate earnings for Nifty companies were below its expectations, domestic brokerage has cut FY23 Nifty EPS estimate by around 3 per cent. “Miss in heavyweights such as … Read more