Join us for the latest in stock market news as we cover today's key movers and shakers. We dive into Bharti Airtel's stake sale, Gabriel India's new license agreement, Uno Minda's JV for high-voltage powertrain products, Deepak Fertilisers' Australian subsidiary expansion, Zomato's AI-driven customer support platform, and Paytm's new SIP partnership with SBI Mutual Fund. Stay informed with our comprehensive update on the stocks to watch today.
Deepak Fertiliser's Q2 earnings disappointed on all three fronts of profit, revenue and profitability, prompting investors to dump the stock
JM Financial is betting big on prospects for fluorination players as they are well poised to fill the void created by a production cut in the US and European Union.
The industrial chemicals and fertilisers producer's PAT was Rs 282.91 crore a year ago, the company said in a BSE filing.
The company's PAT (profit after tax) stood at Rs 180.61 crore during the corresponding quarter of the previous financial year, DFCL said in a regulatory filing.
European stocks close over 2% lower as ECB signals ‘significant’ rate hikes still to come. With the ECB acting far more hawkish than the Fed, and the diverging of US and European financial conditions what could be in store for EMs? We take the global view. Individual stocks in focus today are Nykaa, Sapphire Foods, HDFC AMC, Deepak Fertilisers and GMM Pfaudler.
Its net profit stood at Rs 130.63 crore in the year-ago period, according to a regulatory filing.
"On the back of strong financial performance in the first nine months of the year, delivery of robust financial performance in the fourth quarter underscored the unique advantage of integrated operations and diversified end-user segments of our products," Deepak Fertilisers Chairman and Managing Director Sailesh C Mehta said.
At 0950 hrs, Deepak Fertilizers was quoting Rs 153.15, up 2.51 percent on the BSE.
Overall pattern setup suggests that trend could remain intact while decline could be bought to continue its upward journey, experts said.
In the December quarter, big churn was witnessed in banks (both private and PSU), OMCs, metals, NBFCs, consumer and FMCG by the major Institutions.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 60 points or 0.57 percent. Nifty futures were trading around 10,443-level on the Singaporean Exchange.
The market breadth was in favour of the declines with 712 stocks advancing while 996 declined and 325 remained unchanged. On the other hand, in the BSE, 1135 stocks advanced and 1419 declined and 151 remained unchanged.
The expansion at Taloja in neighbouring Raigad district will share synergies in various storages and utilities with the existing isopropyl alcohol (IPA) plant, the company said in a release.
The rally was broad based and more than 70 stocks hit a fresh 52-week high on the NSE which include names like Britannia Industries, RIL, Heritage Foods, Birla Corp, Rushil Décor, Tata Investments, Repro India, Hindalco etc. among others.
Vishal Malkan of malkansview.com recommends buying Zuari Agro Chemicals with a target of Rs 425 and Deepak Fertilisers with a target of Rs 330.
Vishal Malkan of malkansview.com advises selling Power Finance Corporation with target of Rs 115.
The government on Friday clarified before the apex court that it is undertaking policy initiatives to resolve the issue in a case pertaining to stalled supply of gas to Deepak Fertilisers, reports CNBC-TV18's Ashmit Kumar.
Deepak Fertilisers today announced setting up of a new nitric acid plant at Dahej in Gujarat with an investment of Rs 550 crore to meet the rising demand.
In March this year, Sebi had banned registrar and transfer agent Sharepro Services from the securities market after alleged illegal transfer of shares and dividend money of companies.
The company had incurred a net loss of Rs 9.76 crore in the year ago period. Income from operations rose to Rs 774.66 crore in April- June period of the fiscal up from Rs 430.98 crore in the same period in 2014-15 fiscal, as per company's BSE filing.
With the sale of shares, Deepak Fertilisers has reduced its stake from 29.05 per cent as on December 2014 to 10.60 percent.
Pune-based Deepak Fertilisers has been competing with industrialist Saroj Poddar-led Zuari group for taking control of the MCFL since July 2013. Deepak Fertilisers had offloaded 12.1 percent stake in MCFL on Monday.
The open offer is being launched after an approval from fair trade watchdog Competition Commission for acquiring up to 36.56 percent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL) for Rs 398.2 crore.
On Tuesday, fair trade watchdog Competition Commission of India (CCI) had approved Zuari's open offer to acquire up to 36.56 percent stake in Mangalore Chemicals and Fertilizers Ltd (MCFL) for Rs 398.2 crore.