Q1 Results: Paytm, Zee, IRFC, Colgate Palmolive, JSW Infrastructure, Mahindra & Mahindra Financial Services, Mahanagar Gas (MGL), SML Isuzu, Schloss Bangalore and United Breweries are the notable names among the 52 firms announcing earnings today.
Shares of IRCTC settled higher in trade on Monday at Rs 677.8 per share on the NSE, up over 1 percent. IRFC shares ended flat at Rs 111.6 apiece.
Railway stocks, which had been a market favourite in the past year, is witnessing heightened volatility post the Budget announcement as investors reassessed growth prospects in the segment.
Earlier, Wipro, Infosys, Reliance Industries, and several other companies announced their results for the October-December quarter (Q3).
RVNL stock has seen a strong resurgence in the past few days after it secured a Rs 3,622 crore contract from BSNL, recovering from the 7-month-low level it had hit on January 13.
IRFC emerges as L1 bidder for financing Rs 3,167 crore for development of Banhardih coal block in Jharkhand. Morepen Laboratories approves hiving off the medical devices business to arm Morepen Medtech. Adani Green Energy subsidiary commissions 57.2 MW wind power component of wind-solar hybrid project in Gujarat.. Shoppers Stop Q3 profit grows 41.7% YoY to Rs 52 crore, revenue increases 11.5% to Rs 1,380 crore. Watch here for more details
IRFC highlighted that this financing proposal is subject to due diligence, board approval, and the finalisation of terms with PVUNL.
Railway stocks are back on track! Prominent names like Jupiter Wagons, IRFC, Texmaco Rail, Titagarh Railsystems and RailTel Corp have surged 15-26% in the past month, leaving their July-October correction in the dust.
The BJP-led alliance crossed 200-mark out of 288 seats in Maharashtra state elections, bringing in renewed focus on infrastructure development
Shares of Rail Vikas Nigam Ltd (RVNL) surged 8% alongside other railway PSUs after the Cabinet approved Rs 24,657 crore worth of railway projects across seven states.
Analysts project railway companies to likely expand their capex and sustain volume growth, thus boosting investor confidence even at high valuations.
The company's total income rose to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23
Smallcaps make their presence felt, and several midcap stocks among top 10 contributors in the marketcap bulge
The outlook is positive for railway sector on account of upcoming projects, increased government spending and healthy order books, analysts say
The bonds have a maturity of 10 years, or on February 28, 2034.
The sharp surge in PSU stocks over the last year stretched valuations beyond fundamentals. Analysts anticipate the upward momentum to turn stock-specific in the coming time
On February 13, the Nifty 50 index had a muted start and was trading at 21,733.85, around 0.55 percent higher than close on February 12. BSE Sensex was trading at 71,523.44, around 0.66 percent higher.