Mankind Pharma on Wednesday reported a net profit of Rs 543 crore for the first quarter ended June 2024. This was up 10% from Rs 494 crore posted in the last year period. Revenue from operations in the same period rose 12% year-on-year (YoY) to Rs 2,893 crore. The same stood at Rs 2,579 crore … Read more
Benchmark equity indices Sensex and Nifty eked out gains in volatile trade to settle at record high levels on Tuesday, extending their gaining streak to the third day. In today’s trade, shares of Maruti, M&M, Tata Consumer, Adani Energy, Vedanta will be in focus due to various news developments and first quarter results. Maruti, M&M, … Read more
Benchmark indices Sensex and Nifty hit intraday record high levels before closing almost flat on Monday ahead of the key US Fed interest rate decision later this week.Stocks that were in focus include names like Adani Wilmar, which gained 6.04%, DLF, which rose 4.7%, and RITES, whose shares jumped 14.2% on Monday. Here’s what Kushal … Read more
Electric vehicle maker Ola Electric is planning to launch the biggest IPO of this year, by raising just over Rs 6,100 crore, later this week. The company has priced the issue in the range of Rs 72-76, valuing it around Rs 33,522 crore at the upper end. Considering the pricing for the IPO, two funds … Read more
Shares of private lender ICICI Bank rise 2.5% on Monday on BSE to its day’s high of Rs 1436.70 after the bank on Saturday reported a 14.6% year-on-year (YoY) jump in its standalone profit after tax to Rs 11,059 crore for the June quarter. The bank’s net interest income (NII) for the quarter rose by … Read more
Indian market is likely to trade higher on Monday tracking positive global cues. The Nifty Future closed positive with gains of 1.88% at 24,915 levels on Friday. India VIX was down 2.93% from 12.62 to 12.25 levels. On the options front, the maximum Call OI is placed at 26,500 and then towards 25,500 strikes while … Read more
Brokerage firm UBS has a sell view on SBI Cards, Nomura has a neutral rating on IndusInd Bank. Meanwhile, Morgan Stanley and Macquarie have an overweight and outperform rating respectively on ICICI Bank. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on SBI Cards: Sell| Target … Read more
Besides macro factors and solid earnings growth, one of the biggest reasons behind higher valuation multiples on Dalal Street is the unflinching faith shown by domestic investors. But the valuation multiples can face headwinds if the domestic flows into equities slow down following rises in short- and long-term capital gains tax in the Union Budget, … Read more
Shares of Engineering and construction major Larsen and Toubro (L&T) jumped 2% on Thursday to its day’s high of Rs 3589.80 on BSE after the company reported a consolidated net profit of Rs 2,786 crore for the quarter ended June 30, 2024. The company’s revenue from operations increased 15% year-on-year (YoY) to Rs 55,120 crore, … Read more
Benchmarks Sensex and Nifty settled marginally lower in volatile trade on Tuesday as the government proposed to hike securities transaction tax on futures & options in the budget. Stocks that were in focus include names like Indian Hotels, which gained 0.79%, JSW Steel, which rose 0.61%, and BPCL, whose shares declined 0.73% on Tuesday. Here’s … Read more
