Buy Birla Corporation; target of Rs 1689: Anand Rathi
Tue, Oct 29, 2024 10:59 AM

Buy Birla Corporation; target of Rs 1689: Anand Rathi

Birla Corporation's Q2 was negatively impacted by weak demand, reduced government infra funding, and intense competition, leading to a lowered FY25 volume guidance. Positives include a higher share of premium cement and cost rationalization efforts. The research report maintains a Buy rating with a lower 12-month target price of Rs1,689.

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Spandana Sphoorty reports net loss of ₹204 Crore in Q2
Tue, Oct 29, 2024 10:58 AM

Spandana Sphoorty reports net loss of ₹204 Crore in Q2

On Monday, October 28, 2024, Spandana Sphoorty’s reported a net loss of ₹204 Crore in Q2FY25, compared to a profit of ₹116.3 Crore in the previous year. The microfinance institution’s (MFI) results reflect the sector’s current stress, which is also reflected in asset quality.  The MFI’s gross NPA ratio increased to 4.86% from 2.6% the prior quarter.

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Sudarshan Chemical's net profit jumps ~67% to ₹30 Crore
Tue, Oct 29, 2024 10:57 AM

Sudarshan Chemical's net profit jumps ~67% to ₹30 Crore

Sudarshan Chemical Industries Ltd reported a 67% year-on-year (YoY) increase in net profit to ₹29.9 Crore for the second quarter ended September 30, 2024. Sudarshan Chemical Industries reported a net profit of ₹17.9 Crore for the same period in the previous fiscal year, according to a regulatory filing. Revenue from operations climbed by 16% to ₹689 Crore.

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HSBC to buy back $3 billion shares as profit beats estimates
Tue, Oct 29, 2024 10:56 AM

HSBC to buy back $3 billion shares as profit beats estimates

HSBC Holdings Plc announced a fresh multibillion-dollar stock buyback as it reported better-than-estimated earnings days after unveiling a major restructuring of its business. Europe’s largest bank said Tuesday that it would repurchase up to $3 billion shares. Third-quarter pretax profit rose 9.9% from a year earlier to $8.48 billion, beating estimates, according to a statement.

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Waaree Energies shares jump 5% as buying resumes on Day 2
Tue, Oct 29, 2024 10:55 AM

Waaree Energies shares jump 5% as buying resumes on Day 2

Shares of Waaree Energies, which got listed at a premium of 70% on Monday, jumped 5% to day’s high of Rs 2,454 on BSE as buying resumes on second day. The shares dropped nearly 10% to Rs 2,294 on BSE after listing on Monday. The stock debuted at Rs 2,550 on the BSE, reflecting a premium of Rs 1,047 or 69.7% over the IPO price of Rs 1503. Waaree Energies Limited made a strong listing.

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Swiggy IPO to hit Dalal Street on November 6, price band likely between...
Tue, Oct 29, 2024 10:52 AM

Swiggy IPO to hit Dalal Street on November 6, price band likely between...

The much-awaited mega initial public offering (IPO) of Swiggy India will open for subscription on November 6 and close on November 8. Through the IPO, the SoftBank-backed company plans to raise as much as ₹11,300 crore. The price band has been set between ₹371 and 390 per share, according to a Bloomberg report.

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Dhanteras 2024: Looking to buy gold coins? Here are smarter ways to invest!
Tue, Oct 29, 2024 10:50 AM

Dhanteras 2024: Looking to buy gold coins? Here are smarter ways to invest!

Dhanteras — the auspicious festival marking beginning of Diwali — has been synonymous with investing in gold. As Indians prepare to celebrate it, banks are offering 24K gold coins with tamper-proof packaging and purity certification, but investors should be aware of the inflated prices and limited resale options, and consider alternative ways to invest in gold, such as gold ETFs and digital gold.

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JSW Group and POSCO tie up for a steel plant
Tue, Oct 29, 2024 10:48 AM

JSW Group and POSCO tie up for a steel plant

The JSW Group and South Korea’s POSCO have signed an MoU to develop an integrated steel plant in India, having an initial capacity of 5 million tonnes per annum, along with plans to explore battery materials and renewable energy spaces in India, JSW Energy informed stock exchanges on October 29. The global demand for coal, oil, and natural gas is expected to peak by 2030.

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Gold and silver prices today on 29-10-2024
Tue, Oct 29, 2024 10:46 AM

Gold and silver prices today on 29-10-2024

Gold And Silver Prices Today: Gold prices experienced a slight decrease on Tuesday. The cost of 24 carat gold is Rs.7996.3 per gram, reflecting a decrease of Rs.490.0. The cost of 22 carat gold is Rs.7331.3 per gram, down by Rs.450.0.The price change in 24 carat gold over the past week has been -0.82%, while the change over the last month stands at -3.6%.

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Kalpataru Projects’ Q2 net profit surges by 40%
Tue, Oct 29, 2024 10:46 AM

Kalpataru Projects’ Q2 net profit surges by 40%

Kalpataru Projects International Ltd (KPIL) announced a 39.7% year-on-year (YoY) increase in net profit to ₹125.6 Crore for the second quarter ending September 30, 2024. In the preceding fiscal quarter, Kalpataru Projects International reported a net profit of ₹90 Crore, according to a regulatory filing. Revenue from operations climbed by 9.1% to ₹4,930 Crore.

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Servotech Power Q2 Results: Firm reports cons PAT at Rs 11.24 crore
Tue, Oct 29, 2024 10:45 AM

Servotech Power Q2 Results: Firm reports cons PAT at Rs 11.24 crore

Servotech Power Systems' consolidated net profit surged over three-fold to Rs 11.24 crore in the September quarter, driven by higher income, with total income rising over two-fold to Rs 200.06 crore. The company also launched a new range of energy solutions, including solar on-grid inverters and battery energy storage systems.

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JTL Industries stock split 2024: Record date fixed on November 15
Tue, Oct 29, 2024 10:36 AM

JTL Industries stock split 2024: Record date fixed on November 15

Stock Split 2024: JTL Industries, a pipes and tubes manufacturer, has announced the record date for its upcoming stock split. The company has set November 15, 2024, as the record date to determine the eligibility of shareholders for its 2:1 stock split. Earlier this month, on October 3, the company announced its board’s approval for the stock split in the ratio of 2:1.

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Bharti Airtel shares fall to a one-month low as leadership concerns emerge
Tue, Oct 29, 2024 10:36 AM

Bharti Airtel shares fall to a one-month low as leadership concerns emerge

Shares of Bharti Airtel Ltd. are trading at a one-month low on Tuesday, October 28, amid leadership transition concerns. Despite stable operational performance, Bharti is focused on ensuring a smooth leadership transition. Gopal Vittal will step down from his role as MD and CEO, effective January 1, 2026. As part of the transition, Vittal will assume additional responsibilities as Vice Chairman.

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ideaForge shares, which surged 100% on listing day are down nearly 20% f...
Tue, Oct 29, 2024 10:34 AM

ideaForge shares, which surged 100% on listing day are down nearly 20% f...

Shares of ideaForge Technology, the drone manufacturing company, are down 8% in Tuesday's trading session after the company reported a net loss in the September quarter. The stock, which ranks among the most successful listing of 2023, is now trading below its IPO price. For the September quarter, ideaForge reported a net loss of ₹12.2 crore.

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Ambuja Cements surprises Street with Q2 volumes
Tue, Oct 29, 2024 10:32 AM

Ambuja Cements surprises Street with Q2 volumes

Ambuja Cements delivered sales volumes much higher than expected whereas costs were lower alongside some synergy benefits in the July to September 2024 quarter. Brokerages, however, continue to have varying stances on the company and the targets on its stock price. The cement maker witnessed a dip in profit, EBITDA, and margin, but the numbers were above CNBC-TV18 poll estimates.

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