Gold prices remain elevated on Dhanteras
Tue, Oct 29, 2024 12:54 PM

Gold prices remain elevated on Dhanteras

Gold prices near record high of $2,758.37 per ounce on Dhanteras, driven by geopolitical tensions and US presidential election, with domestic prices in India easing slightly but remaining up over 20% year-to-date. Gold's appeal as a hedge against market volatility and uncertainty makes it a strategic investment for future security.

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Boeing raises $21 billion in capital hike to boost liquidity
Tue, Oct 29, 2024 12:53 PM

Boeing raises $21 billion in capital hike to boost liquidity

Boeing Co. raised around $21 billion in an expanded share sale, one of the largest ever by a public company, shoring up its balance sheet as it seeks to stave off a potential credit rating downgrade to junk. The US planemaker sold 112.5 million common shares for $143 each, according to a statement. The stock was priced at a discount of about 7.7% to the Friday closing price of $155.01.

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Buy Cholamandalam Investment and Finance; target of Rs 1601: Anand Rathi
Tue, Oct 29, 2024 12:52 PM

Buy Cholamandalam Investment and Finance; target of Rs 1601: Anand Rathi

Anand Rathi's research report on Cholamandalam Investment and Finance: Driven by robust, 32% y/y, NII growth, Cholamandalam Investment & Finance’s Q2 net profit rose 25% y/y to Rs9.6bn. With its more profitable new businesses and strong collections architecture, we maintain our Buy recommendation despite premium valuations.

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Accumulate CreditAccess Grameen; target of Rs 1011: KR Choksey
Tue, Oct 29, 2024 12:51 PM

Accumulate CreditAccess Grameen; target of Rs 1011: KR Choksey

CreditAccess Grameen's Q2FY25 results showed a 20.8% YoY increase in net interest income to INR 9,324 Mn, but a 46.4% YoY decline in net profit to INR 1,861 Mn due to higher provisions. The company expects challenges to stabilize in Q3FY25E and business sentiment to improve in Q4FY25E, leading to a revised target price of INR 1,011/share and an "ACCUMULATE" rating.

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IndiGo shares crack 16% in 2 weeks. When will the stock take off?
Tue, Oct 29, 2024 12:51 PM

IndiGo shares crack 16% in 2 weeks. When will the stock take off?

Shares of InterGlobe Aviation-operated IndiGo hit an all-time high of Rs 5,033 in the month of September, from where it started its falling spree and corrected by 25%.After a long time, the stock is currently placed below its 200-day exponential moving average (DEMA), with the stock oscillating in the oversold territory on the relative strength indicator (RSI).

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Razorpay revenue grows 24% in FY24 to Rs 2,068 crore
Tue, Oct 29, 2024 12:50 PM

Razorpay revenue grows 24% in FY24 to Rs 2,068 crore

Razorpay, a Bengaluru-based payments gateway firm, reported 24% revenue growth to Rs 2,068 crore in FY24, with a 4.7-times increase in net profit to Rs 35 crore, driven by new product offerings and deeper penetration with existing businesses. Razorpay, valued at $7 billion, is shifting its registered office back to India ahead of a potential IPO.

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TV TodayNetwork Standalone September 2024 Net Sales at Rs 206.77 crore,...
Tue, Oct 29, 2024 12:49 PM

TV TodayNetwork Standalone September 2024 Net Sales at Rs 206.77 crore,...

Reported Standalone quarterly numbers for TV Today Network are: Net Sales at Rs 206.77 crore in September 2024 down 3.32% from Rs. 213.86 crore in September 2023. Quarterly Net Profit at Rs. 8.35 crore in September 2024 up 17.61% from Rs. 7.10 crore in September 2023. EBITDA stands at Rs. 21.67 crore in September 2024 up 2.31% from Rs. 21.18 crore in September 2023.

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Hindustan Media Standalone September 2024 Net Sales at Rs 171.99 crore
Tue, Oct 29, 2024 12:25 PM

Hindustan Media Standalone September 2024 Net Sales at Rs 171.99 crore

Reported Standalone quarterly numbers for Hindustan Media Ventures are: Net Sales at Rs 171.99 crore in September 2024 up 4.53% from Rs. 164.53 crore in September 2023. Quarterly Net Profit at Rs. 13.68 crore in September 2024 up 296.55% from Rs. 6.96 crore in September 2023. EBITDA stands at Rs. 21.69 crore in September 2024 up 634.24% from Rs. 4.06 crore in September 2023.

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Jio Financial Services launches SmartGold on Dhanteras
Tue, Oct 29, 2024 12:23 PM

Jio Financial Services launches SmartGold on Dhanteras

Jio Financial Services has introduced SmartGold as a feature on the JioFinance app. It allows customers to buy digital gold. Users can invest in gold starting from as low as Rs 10, providing an accessible entry point for many. SmartGold offers a completely digital process for purchasing gold, with options to redeem investments for cash, gold coins, or jewellery.

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JSW Infra stock zooms 10% after Q2 net profit jumps 46%
Tue, Oct 29, 2024 12:22 PM

JSW Infra stock zooms 10% after Q2 net profit jumps 46%

Shares of JSW Infrastructure soared as much as 10 percent on October 29 after the company reported an impressive set of earnings for the July-September quarter. The company's net profit surged 46 percent on year to Rs 372 crore in Q2, up from Rs 254.4 crore in the year ago period.At 11.06 am, shares of JSW Infrastructure were trading at Rs 311.75 on the NSE.

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SpiceJet pays Rs 310 crore to clear TDS dues up to Q2FY25
Tue, Oct 29, 2024 12:13 PM

SpiceJet pays Rs 310 crore to clear TDS dues up to Q2FY25

Low-cost carrier SpiceJet Ltd on October 29 said it has cleared pending TDS dues of Rs 310 crore, including employee TDS, up to the second quarter of 2024-25.SpiceJet said that, so far this fiscal, it has cleared Rs 600-crore pending dues, including salaries, GST liabilities and PF contributions. On September 23, the airline announced raising Rs 3,000 crore through QIP of shares.

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Usha Financial Services IPO share allotment likely today
Tue, Oct 29, 2024 12:12 PM

Usha Financial Services IPO share allotment likely today

Usha Financial Services IPO: Despite volatility and weak stock market sentiment, the initial public offering (IPO) of Usha Financial Services, a non-banking finance company (NBFC), saw a decent response from investors. The ₹98.45 crore SME IPO, which opened for subscription on Thursday, October 24, and concluded on Monday, October 28, saw an overall subscription of about 19 times.

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Buy Castrol India; target of Rs 275: Motilal Oswal
Tue, Oct 29, 2024 12:11 PM

Buy Castrol India; target of Rs 275: Motilal Oswal

Motilal Oswal's research report on Castrol India: Castrol’s (CSTRL) revenue grew 9% YoY to INR13b in 3QCY24, driven by 8% YoY volume growth. EBITDA margin stood at 22.2%. Management highlighted that it remains focused on brand building, widening the distribution network, and launching new products, all of which we believe will contribute to volume growth and market share expansion.

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Buy Bharat Electronics; target of Rs 360: Motilal Oswal
Tue, Oct 29, 2024 12:10 PM

Buy Bharat Electronics; target of Rs 360: Motilal Oswal

Motilal Oswal's research report on Bharat Electronics: Bharat Electronics (BHE)’s 2QFY25 results came ahead of our estimates, driven by better-than-expected margin performance. Revenue growth was led by a strong order book, which stood at INR746b. Order inflows stood at INR74b during 1HFY25. We expect defense ordering to start ramping up in the coming quarters.

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Jio Financial Services shares next update in its JV with BlackRock
Tue, Oct 29, 2024 12:02 PM

Jio Financial Services shares next update in its JV with BlackRock

Jio Financial Services Ltd. (JFSL), the financial services entity spun off from Reliance Industries under Chairman Mukesh Ambani, informed the exchanges on October 29 that two companies — Jio BlackRock Asset Management Pvt. Ltd. and Jio BlackRock Trustee Pvt. Ltd. — have been incorporated on October 28, 2024, to carry on the primary business of mutual fund.

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