Daiichi Brothers Dispute: Delhi HC orders auctioning of Fortis trademark
Wed, Oct 30, 2024 9:12 AM

Daiichi Brothers Dispute: Delhi HC orders auctioning of Fortis trademark

The Delhi High Court ordered the auction of the Fortis trademark to execute a ₹3,500 crore arbitral award in favor of Daiichi Sankyo and against the former Ranbaxy promoters, brothers Malvinder Mohan Singh and Shivinder Mohan Singh. The court's decision came on an application filed by Daiichi Sankyo seeking the sale of the Fortis trademark.

Open Flip
IDEX Corp edges up 2024 profit forecast on demand recovery
Wed, Oct 30, 2024 9:08 AM

IDEX Corp edges up 2024 profit forecast on demand recovery

Industrial equipment maker IDEX Corp raised the lower end of its 2024 profit forecast on Tuesday after beating third-quarter profit and revenue expectations, driven by a recovery in demand within its health and science division. IDEX now expects its full-year adjusted profit to be between $7.85 and $7.90 per share, marginally higher than its previous forecast of $7.80 to $7.90.

Open Flip
Check these buzzing stocks today-30 October 2024
Wed, Oct 30, 2024 8:55 AM

Check these buzzing stocks today-30 October 2024

📌L&T, Tata Power and Dabur will be in focus as the companies will announce their second quarter results today. 📌Torrent Pharma are expected to remain in focus on as company's promoter could sell 2.9% stake. 📌Marico reported a 20% in consolidated net profit to Rs 433 crore for the Sept quarter. 📌NTPC announced commissioning of commercial operations of a 32.90 MW solar plant in Rajasthan.

Open Flip
Asian stocks climb after mixed tech results
Wed, Oct 30, 2024 8:50 AM

Asian stocks climb after mixed tech results

Asian stocks eked out gains following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve rate decision. Shares gained in Japan, but slipped in Australia and South Korea. US contracts advanced in Asia after the S&P 500 closed up 0.2% and the Nasdaq Composite rose to a record.

Open Flip
Stock Market Updates: Nifty Bank eyes further gains on monthly expiry
Wed, Oct 30, 2024 8:50 AM

Stock Market Updates: Nifty Bank eyes further gains on monthly expiry

📌Nifty 50 ended the previous trade session 1,810.5 points away rom its record high of 26,277.35. 📌Wall Street indices were mixed. 📌Nasdaq hit a fresh record high, while the Dow Jones continued to underperform and the S&P 500 ended with minor gains. 📌Asian equities gained in early trade today. 📌Indian stocks react to quarterly earnings, with Marico, CONCOR, and others reporting.

Open Flip
Investors bank on larger lenders, again
Wed, Oct 30, 2024 8:46 AM

Investors bank on larger lenders, again

Bank shares jumped on Tuesday, emerging as the top gainers in the day's trading, as investors lapped up shares of some larger lenders amid uncertainty over near-term market prospects. The Nifty Bank index advanced 2.1% on Tuesday, while the benchmark Nifty gained 0.5%. Ten of the 12 stocks on the Nifty Bank index gained at close on Tuesday.

Open Flip
As price jumps, gold buyers keep it light this Dhanteras
Wed, Oct 30, 2024 8:45 AM

As price jumps, gold buyers keep it light this Dhanteras

This Dhanteras, jewellery and gold demand dropped 10-15% by volume, but value sales rose 25% due to high prices, with consumers opting for lightweight and diamond-studded jewellery, and silver demand increasing 30-35%. Total gold sales are estimated at 22 tonnes, down 12% from last year, with gold prices up 30% year-on-year.

Open Flip
Deepak Fertilisers Q2 Results: Net profit soars threefold to ₹210 crore
Tue, Oct 29, 2024 8:23 PM

Deepak Fertilisers Q2 Results: Net profit soars threefold to ₹210 crore

Deepak Fertilisers and Petrochemicals on Tuesday reported a more than three-fold surge in second-quarter net profit at ₹210 crore on Tuesday, benefitting from strong sales growth across its business segments. In the last year, the fertiliser maker’s consolidated net profit came in at ₹60 crore. The company's revenue from the three months ending September 30 was up 13.3% on an year-on-year.

Open Flip
State Bank of India chairman targets unbanked in expansion plans
Tue, Oct 29, 2024 8:22 PM

State Bank of India chairman targets unbanked in expansion plans

State Bank of India's new chairman aims to expand by targeting the country's unbanked population, leveraging digitalization and technology to reach underserved areas at lower costs, and adding branches in new locations, while also investing in wealth-management technology to tap into India's growing affluent market.

Open Flip
Gold rises Rs 300 to Rs 81,400 per 10 grams on Dhanteras
Tue, Oct 29, 2024 8:21 PM

Gold rises Rs 300 to Rs 81,400 per 10 grams on Dhanteras

Gold price rose by Rs 300 to Rs 81,400 per 10 grams, near its record high level, in the national capital on Tuesday due to heavy demand for Dhanteras by jewellers and retailers, according to the All India Sarafa Association. Silver increased by Rs 200 to Rs 99,700 per kg on rising demand by industrial units and coin makers. It had closed at Rs 99,500 per kg in the previous close on Monday.

Open Flip
Buy Mahindra Lifespace Developers; target of Rs 644: Sharekhan
Tue, Oct 29, 2024 8:20 PM

Buy Mahindra Lifespace Developers; target of Rs 644: Sharekhan

Mahindra Lifespace Developers reported weak residential sales bookings, but healthy collections and IC&IC business leasing. Despite lagging estimates, the launch pipeline remains strong for H2FY2025 and the business development pipeline is expected to cross Rs. 4400 crore in FY2024. Sharekhan retains a Buy rating with a revised PT of Rs. 644.

Open Flip
Amazon Pay trims losses by 39%, sees sluggish revenue at Rs 2287 crore
Tue, Oct 29, 2024 8:20 PM

Amazon Pay trims losses by 39%, sees sluggish revenue at Rs 2287 crore

Amazon Pay India, the digital payments arm of e-commerce major Amazon, cut losses by almost 39 percent to Rs 911 crore, compared to Rs 1,499 crore in the year-ago period. Its revenue from operations stood at Rs 2286.9 crore, a 9.2 percent rise year-on-year. Revenue growth for Amazon Pay has remained sluggish for the past two years amid intense competition from other payment apps.

Open Flip
Buy Dixon Technologies; target of Rs 16800: Sharekhan
Tue, Oct 29, 2024 8:19 PM

Buy Dixon Technologies; target of Rs 16800: Sharekhan

Sharekhan's research report on Dixon Technologies: Overall revenue growth of 133% was led by strong performance in mobiles & EMS (235%), home appliances (22%) and Lightning products (29%) division. Operating profits were higher by 114% to Rs 426 crore, with OPM falling 33 bps. OPM declined on higher contribution from low-margin Mobile & EMS segments.

Open Flip
Buy Coromandel International; target of Rs 1917: Sharekhan
Tue, Oct 29, 2024 8:19 PM

Buy Coromandel International; target of Rs 1917: Sharekhan

Coromandel International's revenue rose 6% year-over-year and 57% quarter-over-quarter to Rs. 7,433 crore, driven by higher primary sales volumes, despite operating profit falling 8% year-over-year due to lower subsidy rates and rising raw material prices. Sharekhan maintains a "Buy" rating with a target price of Rs. 1,917, citing growth aspirations and foray into specialty chemicals.

Open Flip
Buy Radico Khaitan; target of Rs 2644: Sharekhan
Tue, Oct 29, 2024 8:18 PM

Buy Radico Khaitan; target of Rs 2644: Sharekhan

Radico Khaitan's Q2FY2025 results exceeded estimates, with 21% y-o-y revenue growth and 33% y-o-y profit growth, driven by 13% y-o-y volume growth in Prestige & Above brands. The company maintains 15-18% volume growth guidance for FY2025 and targets late-teens OPM in three years, prompting a Buy rating with a revised PT of Rs. 2,644.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon