Som Distilleries declines over 7% on reports of income tax search
According to CNBC TV income Tax is conducting search ops at Som Group of Companies. Searches are underway across the country including Bhopal, Jabalpur, Indore.
Bharat Forge: Post a strong show in Q2, brokerages maintain mixed views
In Q2FY24, PV exports surged by 39 percent YoY, and domestic revenue grew 1.5X due to the defence business. Bharat Forge’s EBITDA margin reached 27.4 percent, a 330 bps YoY increase
Shrinking IT jobs reflect the sector’s refusal to take risks
Had IT firms embraced disruptive new technologies such as generative artificial intelligence (AI) and machine learning, they would still need fewer people. The difference though is that margins would have remained unaffected
Gail India keeps brokerages upbeat on ratings; target price raised after Q2
Motilal values the core business at 10x FY25E adjusted EPS of Rs11.7, and when factoring in listed and unlisted investments worth Rs23, this adds to the overall value assessment.
Narayana Murthy’s call for 70-hour workweek: Research shows longer hours unproductive
The point of discussion should be not just the total number of hours worked in a week, but how India’s competitiveness in the global marketplace can improve if some of the factors that lower productivity are removed
Morgan downgrades UPL to equal weight, cuts target price to Rs 590
The EBITDA guidance for FY24 was revised to 0 to -5% from the earlier 3-7% projection.
Low free float behind rally in most midcap, smallcap stocks: Kotak study
Kotak's analysis reveals that many top performers have seen a significant surge in delivery volumes. This increase is attributed to rising expectations of strong returns from the mid- and small-cap sector
Business in the Week Ahead (October 30 to November 3, 2023)
At least two new IPOs will open for subscription. The US Fed will decide on interest rates. Corporate earnings, PMI, auto sales are other key data to track
In The Charts: Stocks that have seen maximum carnage. What has changed?
In the last six sessions, the Indian markets saw a nearly 7% decline in the Sensex and Nifty indices, following a robust rally since April, attributed to improving economic conditions and foreign investments.
RIL Q2 net profit may jump led by all-round growth in oil, Jio telecom, retail businesses
According to a Moneycontrol survey of 10 brokerages, RIL’s consolidated net sales are expected to come in at Rs 2.31 lakh crore in Q2 FY24, up 0.5 percent year-on-year, and 11 percent quarter-on-quarter.
Start-up Street: Does it make sense to be a zero-equity co-founder?
A zero-equity co-founder must know what he has signed up for---his powers and liabilities---before entering into an agreement with a start-up venture
FIIs raise stakes in major IT firms in Q2 despite weak earnings outlook
Mutual funds and insurance companies, too, continued to invest in large Indian IT stocks.
Analysts retain ratings on Amber Enterprises, raise target price despite Q2 losses
Several analysts have retained its rating on Amber Enterprises India Ltd and increased its target price even as its losses for the September quarter widened from a year ago.
Indraprastha Gas down 10% on EV policy; MFs, insurers take a Rs 681-cr hit in value
Around 20 insurance companies collectively own 77.30 million shares, representing an 11.04% stake in IGL
Orient Cement gains over 8% on reports of stake sale talks with Adani
Currently, the Birla family and private investment vehicles hold a 37.9% stake with a market value of Rs 3,890 crore.
LTIMindtree Q2 Preview: Muted revenue, shrinking margin, wage hikes to weigh on net profit
According to a Moneycontrol survey of 5 brokerages, the company is likely to report $1.07 billion in September quarter revenue, up 1% from the previous quarter and 5% year-on-year
UltraTech Cement may see robust Q2 earnings on demand surge, price hikes
Analysts predict a YoY revenue increase of up to 15% to Rs 15,769.40 crore, with a 60% YoY surge in net profit to Rs 1,334 crore based on 10 brokerage estimates from Moneycontrol.
MMTC, STC stocks rally up to 10% after reports of likely shutdown
Union Commerce Minister Piyush Goyal is slated to lead a high-level meeting on October 23 to explore the closure of MMTC, STC and PEC government-owned firms
Nomura downgrades Dalmia Bharat to 'neutral' from 'buy'
Dalmia's volume declined 20% year on year in the East compared to a 7% a year ago total volume growth
Metals and mining sector to record mixed earnings in Sept quarter
Ferrous firms to show stable to higher margins despite lower steel prices, thanks to reduced coking coal costs. Non-ferrous producers likely to see margin dip due to lower metal prices and volumes
NSE sees 6.33 million shares change hands in Sept, institutions pick up the most
Nearly 6.33 million shares of the National Stock Exchange of India (NSE) changed hands in September at an average price of Rs 3055 per share
Mutual funds suffer Rs 4,300-crore loss in value after Infosys slumps over 4%
Infosys Ltd lowered its 2023-24 growth guidance for the second time. They now anticipate growth of 1-2.5% in constant currency terms
Q2 earnings surprises could lead to sharp stock moves
A lowering of IT sector guidance, a good show from BFSI, auto and oil marketing companies are anticipated events in the earnings season. But be prepared for surprises
Tech glitch in BSE prompts dealers to shift trading to NSE
Traders on Bombay Stock Exchange were facing difficulty in login and trades following a technical glitch, according to ICICI Direct.
