Tata Steel’s consolidated net profit plummeted 93% year-on-year to Rs 525 crore in the first quarter of 2023-24 weighed down by its Europe operations. In conversation with Moneycontrol, TV Narendran, Managing Director and Chief Executive Officer discusses what impacted the Q1FY24 performance, and the way ahead for its Europe and India markets.
Indian equity markets extended losses for yet another session amid volatility. The Nifty50 shut shop below the 19,700 mark amid selling pressure in FMCG, metal, oil & gas, and select banks and technology stocks. However, the Nifty smallcap index managed to close in the green. Markets will be reacting to Tata Steel’s Q1 performance today. The steel giant’s profit slumped over 90% YoY but beat expectations. Meanwhile it’s a busy day on the earnings calendar as 5 Nifty companies will hand in their Q1 report cards - Tata Motors, Bajaj Auto, L&T, Asian Paints and SBI Life. L&T’s board will also consider its first-ever share buyback. Catch Nandita Khemka in conversation with Milan Vaishnav, Gemstone Equity Research and Renu Baid, Vice President – Research, Capital Goods & Consumer Electricals at IIFL Institutional Equities.
In conversation with Moneycontrol, TV Narendran, managing director and chief executive officer discusses Tata Steel’s Q4FY23 performance, recession fears in global markets and steel demand.
Banking stocks in focus, especially IDFC First and Kotak Mahindra Bank which reported a decent set of numbers over the weekend. Ultratech Cement too reported strong operational performance for the March quarter. Auto companies reported monthly sales numbers. Tata Steel to kickstart the earning season for metal companies. Catch Nickey Mirchandani in conversation with Aniruddha Sarkar Portfolio – Quest Investment Advisors and Prashant Sawant - Co-Founder - Catalyst Wealth
Nifty closed just a shade below the 17,600 mark following a strong rally fuelled by a surge in Adani Group shares and PSU bank stocks. Will the momentum continue in the holiday-shortened week? Osho Krishan of Angel One tells us what the charts are indicating for the Nifty and a host of stocks like Reliance Industries & Power Grid. Metals were among the top sectoral movers last week amid strength in China economic data. But will a modest growth forecast for 2023 derail the recent rally? Is this the right time to nibble into shares like Tata Steel, Hindalco and JSW Steel? We ask Gaurang Shah of Geojit Financial Services. Watch! Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Markets struggling for direction despite Tuesday's pullback. Bank of Japan announced no change to its yield curve control policy. Tata Steel, Rail Vikas Nigam, Delta Corp are on Santosh Nair's radar.
Markets extended their gains for a second straight day with the Nifty closing firmly above the 18,000 mark. Metals were the big gainers in yesterday’s session with stocks like Hindalco and Tata Steel rallying over 6% each. We discuss the trade setup for today and all the stocks in news this morning with Rajesh Palviya of Axis Securities. Also catch Siddarth Bhamre of Religare Broking as he shares his top bets for 2023. Watch!
Tata Group has informed the stock exchanges that it will merge all metal companies with Tata Steel to create an even bigger behemoth. According to the regulatory filing Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, the Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company will merge with Tata Steel. What is the rationale behind the amalgamation and what does it mean for the shareholders? Watch!
Equity benchmarks remained directionless as investors maintained caution ahead of Federal Reserve's two-day policy meeting that will begin tonight.
Bulls have taken a complete control over Dalal Street as the Sensex surged nearly 400 points after pricing in RBI's unexpected rate status quo and due to renewed buying interest from FIIs.
Equity benchmarks gained strength amid volatility on the first day of December series, supported by technology, FMCG and banks stocks. The broader markets also extended gains with the BSE Midcap and Smallcap indices rising 0.8 percent and 1.2 percent, respectively.
Equity benchmarks remained under pressure as the Sensex was down 385.10 points or 1.47 percent at 25765.14 and the Nifty down 145 points or 1.80 percent at 7929.10, erasing all 2016 gains.
NTPC, Sun Pharma, Bharti, Hero MotoCorp and M&M were gainers while Tata Steel, ITC, GAIL, Asian Paints and HDFC Bank.
Dalal Street succumbed to more selling on Tuesday as the demonetisation effect and weak earnings drove the Sensex lower by 565 points and the Nifty below 8100 intraday. Strengthening of bond yields and US dollar on US president elect Donald Trump policy also weighed on market sentiment.
Tata Steel's second quarter profit may fall 46.3 percent year-on-year to Rs 821 crore and revenue is seen declining 7.4 percent to Rs 27,150 crore, according to average of estimates of analysts polled by CNBC-TV18.
The ambiguity or volatility is expected to remain till the outcome of US election, feel experts. According to them, if Donald Trump wins the election, then there can be further sell-off that would be a big opportunity for investors (who missed earlier rally) to pick quality stocks, but if Clinton wins, then there could be relief rally.
Equity benchmarks continued to be lacklustre in afternoon trade but the broader markets underperformed with the BSE Midcap and Smallcap indices falling 0.4-0.7 percent.
The market gained some strength in afternoon trade with the Nifty reclaiming 8650 level and the Sensex hitting 28000-mark amid consolidation.
Equity benchmarks recovered early losses with the Nifty rising over 8600 level on first day of November series. Select Tata Group stocks like Tata Motors and Tata Steel rebounded sharply on short covering after sharp sell-off in previous three consecutive sessions due to Tata-Mistry issue.
Benchmark indices continued to trade lower in afternoon due to consistent sell-off in technology, Tata Group and HDFC Group stocks. The 30-share BSE Sensex was down 85.90 points at 28093.18 and the 50-share NSE Nifty declined 18.40 points to 8690.55.
Equity benchmarks extended losses in morning trade with the Nifty falling below the 8700 level due to profit booking.
ICICI Bank remained top loser, down 3 percent ahead of Q1 earnings followed by HDFC, Reliance Industries, L&T, HDFC Bank and Infosys while Sun Pharma, Lupin, M&M, Bajaj Auto, Cipla, Adani Ports, Tata Steel and Hero Motocorp gained 1-2.5 percent.
Reliance, Tata Motors, HDFC Bank, BHEL and ICICI Bank are top gainers in the Sensex. Among the losers are Cipla, NTPC, Tata Power and Tata Steel.