BUSINESS
Saint-Gobain to scale up investment in its Tamil Nadu ops to Rs 8,000 crore
The company will be investing Rs 3,400 crore across different businesses in its next phase of expansion in Tamil Nadu, said B. Santhanam, CEO, Asia Pacific and India region and Chairman, Saint-Gobain India.
BUSINESS
Dixon Technologies stock hits 52-week high even as Jefferies prefers Amber. Here's why...
"The company with its diverse product portfolio ranging from LED TV to smartphones compared to that of air-conditioning focused Amber, seems to be a lucrative choice for the D-street," an analyst on the condition of anonymity said.
BUSINESS
Coal India Q1 Preview: Q1FY24 could see a 31% YoY net profit drop and a 2% revenue decline
Based on the mean consensus of four brokerage firms, Coal India is expected to report a revenue of Rs 34,501 crore in Q1FY24, which would be a 1.68 percent decrease YoY from Rs 35,902 crore reported in Q1FY23.
BUSINESS
Tech goods import curbs, PLI can help Indian electronic manufacturers grow, says Goldman Sachs
The equities research firm sees contract manufacturers Dixon Technologies and Amber benefiting from the import restrictions, which have been deferred till October 31, 2023
BUSINESS
Ambuja Cements Q1 Preview: Net Profit to decline 44%, margins likely to improve
Based on the mean consensus of four brokerage firms, the company is expected to report a 7.18 percent YoY increase in its revenue at Rs 4,280 crore in Q1FY24.
BUSINESS
ACC’s stellar Q1 earnings fail to excite D-Street, brokerage ratings vary
Although the cement maker’s quarterly earnings have beaten the market estimates, brokerage ratings differ ranging from underweight to buy.
BUSINESS
UltraTech Cement Q1 Preview: Profits expected to be muted, Margins to contract
According to a mean consensus of four brokerage firms, the company is expected to report a Revenue of Rs 17,475 crore in Q1FY24. This is supposed to be a 15.2 percent increase YoY from Rs 15,164 crore reported in Q1FY23.
EARNINGS
Tata Elxsi slumps by 2% on contraction in margin for Q1FY24
The company specialises in mechanical and electronic designing along with software development and providing research and strategy inputs to its clients, supported by a global network of offices and design studios.
BUSINESS
Wipro Q1 earnings Preview: Sequential downturn expected across major financial metrics
Wipro Q1 earnings Preview: Analysts have observed that an increased exposure to the BFSI and consulting segments, which have witnessed tepid demand growth, will pressure Wipro's earnings as well as margins.
BUSINESS
TCS Q1 Preview: Muted revenue growth expected amid wage hikes, macro headwinds
In their previews, brokerage firms have pointed out that decreased discretionary spending, wage hikes and companies prioritising long term deals due to recession fears in the North American market have impacted notably TCS and some of the other Tier-1 companies’ margins.
BUSINESS
Indian IT to see a March rerun as tepid demand, pay hikes will hit Q1 earnings
In continuation of the trends from the March quarter, analysts again expect Tier 2 IT companies to fare better than the Tier 1 players. However, foreseeing improved margins and strong order books, the brokerages have maintained preference for some of the Tier-1 IT majors.
BUSINESS
Hindustan Zinc gains 7% ahead of interim dividend announcement
In a corporate filing at both exchanges, the company stated that the decision will be taken in a meeting of its board members on July 8.
BUSINESS
Cement firms to see strong demand growth in 1QFY24, EBITDA set to improve: Brokerages
Although an enhanced demand outlook is expected to keep the cement producers’ order books strong, broking firms have also observed that it is unlikely to stimulate cement prices.
MARKETS
Mumbai Police arrest 3 more in the multi-crore Kandivali Dabba trading case
DCP Raj Tilak Raushan (IPS) revealed that Jatin Mehta facilitated illegal stock betting by sending app links, resulting in ₹4,672 crore of illegal trades between March and June. A previous Ghatkopar case was simpler compared to the larger Kandivali case with a longer cash trail.
BUSINESS
Morgan Stanley downgrades Cyient, sees higher risk for Tech M, TCS, Mphasis
The share price of Cyient Ltd, which rallied over 80 percent on the NSE in the past six months, is capped at Rs 1,500 by Morgan Stanley
BUSINESS
Greenchef Appliances IPO: Here’s what you need to know
Greenchef primarily produces LPG gas stoves, pressure cookers, non-stick cookware, and wet grinders in the kitchen utensils category. Recently, it has also expanded into the production of induction cooktops, irons, and other home appliances.
BUSINESS
We're in the middle of a tech revolution, not interested in timing IT stocks, says Saurabh Mukherjea
Nearly 70 percent of the Fortune 500 companies are yet to switch to the cloud, which offers a significant growth opportunity, the Marcellus founder and CIO has said
BUSINESS
This company’s cash, property value is greater than its current market-cap. And Ashish Chug just bought into it…
This company, composed of two subsidiaries — one in the UK and another in India — embarked on a clean-up as it was reeling under losses till a year ago.
BUSINESS
FIIs optimistic on India but dichotomy remains: UBS positively cautious on global investor outlook
The brokerage, however, continues to be cautious on India ‘given the context of weak growth and return on equity expectations’
MARKETS
JP Morgan reiterates negative stance on IT sector, says, ‘every’ company will disappoint
Not only does the foreign brokerage firm believe that IT companies will disappoint the market in Q1 of FY24 but it also sees the technology firms upsetting the Dalal Street in the second half of FY24. It has placed IT majors like Infosys, TCS and Mphasis on a negative catalyst watch.
BUSINESS
This smallcap tech stock has given jaw-dropping returns in 3 years. Here’s why
The small cap IT company, which has a diverse customer base ranging from BFSI, manufacturing, hospitality to publishing, has operations across India, the US and Europe
STOCKS
TCI Express shares gain 2%, Motilal Oswal sees more room for upside
Ranked sixth in terms of the market capitalisation, TCI Express is a logistics major with a pan-India reach
BUSINESS
Burgers over pizzas, Jodhpuris over casuals: Mixed consumption trends rule Q4
According to a Jefferies report, while the premium consumer segment comprising premium apparel, jewellery and paints reported double-digit growth, most other mass-oriented companies reported weak to moderate demand trends
