BHEL's surprise Q3 profit drove its stock up 6%, but analysts remain cautious, citing high valuations and concerns over market dominance. CLSA maintains an "underperform" rating with a ₹189 target, implying an 18% downside. Out of 17 analysts, 10 have a "sell" rating, with targets ranging from ₹70 to ₹364.
Open FlipShares of Bharti Airtel will be in focus on October 29, after the telecom major reported a 168 percent surge in net profit for the quarter ended September. Bharti Airtel's net profit came in at Rs 3,593 crore, from Rs 1,341 crore a year earlier, driven by strong performance in its India and Africa businesses. The company’s revenue from operations for the July-September quarter rose 12% Y/Y.
Open FlipDeepak Nitrite on Monday, October 28, said the board of its wholly-owned subsidiary Deepak Phenolics Limited gave its approval for the execution of definitive agreements with Petronet LNG Ltd to procure propylene and hydrogen. In the June quarter, Deepak Nitrite reported a 35.1% increase in its net profit for the June quarter of this fiscal at ₹202.5 crore.
Open FlipOnline grocery platforms Swiggy Instamart, Zomato's Blinkit, Tata's Bigbasket, and Zepto are offering 10-minute delivery of gold and silver coins on Dhanteras, partnering with various jewellers like Malabar Gold & Diamonds, Joyalukkas, and Tanishq, with options ranging from 0.1g to 1g gold coins and 5g to 20g silver coins.
Open FlipOperating margins seemed to be shrinking in the second quarter this fiscal for tech biggies in India. Splitting of the wage hike cycle across quarters and ongoing investments in specific projects have pushed IT bellwethers like Tata Consultancy Services (TCS), Infosys, and HCLTech to report flat or falling operating margins at the end of three months on September 30, 2024.
Open FlipThe tide is turning against India’s smaller companies as weak earnings and a souring economic outlook spur a downturn in their shares. Key gauges of small- and mid-sized companies have tumbled since hitting September highs, putting them close to a so-called technical correction of a 10% peak-to-trough decline. The Nifty Midcap 100 Index is heading for its biggest monthly drop since the pandemic.
Open FlipShares of India's largest wind turbine manufacturer Suzlon Energy gained in early session on October 29, following its earnings results for the quarter ended September. Suzlon Energy reported 96% jump in net profit at Rs 201 crore for the quarter ended September 30, 2024 due to record order wins and robust margins. The renewable energy firm said its revenue rose 48% to Rs 2,093 crore in Q2FY25.
Open FlipRamco Industries' shares surged 6% to Rs 247 after 14.1 million shares changed hands in two block deals, with Ramco Cements disinvesting 1.4 crore shares to Rajapalayam Mills and Ramco Management, representing 16.2% of the company's equity, in an inter-se promoter transfer, with no change in management or control.
Open FlipShares Adani Power today fell by 3.5% to day’s low of Rs 578.05 on the BSE after reporting a 50% drop in its consolidated net profit for the quarter ended September 2024 to Rs 3,298 crore. The profit for the corresponding quarter of the previous financial year stood at Rs 6,594.17 crore. The company's revenue from operations during the quarter stood at Rs 13,339 crore.
Open FlipStock Market Today: Infosys Ltd share price will remain in focus on Tuesday as stock trades ex-dividend today. Infosys post its financial results on 17 October also had declared an interim dividend of ₹ 21/- per equity share and fixed October 29, 2024 as a record date. Infosys had also fixed November 8, 2024, as the payout date.
Open FlipSuzlon Energy Ltd. expects its consolidated EBITDA margin to decline going forward as its core Wind Turbine Business continues to grow faster than the Operations & Maintenance (OMS) business. In a post-earnings interaction with CNBC-TV18, Suzlon Group CFO Himanshu Mody explained that because the WTG business is the low-margin business for Suzlon Energy, currently in the high-single-digits.
Open Flip📈 Amid mixed global cues, benchmark indices started on a flat note today. 📊 At 9:16 AM, the Sensex lost 201.84 points or 0.25% at 79,803.20 and the Nifty was down 42.50 points or 0.17% at 24,296.65. 📢 Aarti Industries (⬆️1.21%), Asian Paints (⬆️0.49%) and Atul (⬆️0.25%) appeared as the top performers on the Nifty50 at open.
Open FlipGold prices rose 0.38% to Rs 77,917 on October 28, with a 23.48% increase since the start of the year and 27.68% year-over-year. City-wise prices varied, with Delhi at Rs 77,860 for 24-carat and Mumbai at Rs 77,750. Global demand decreased 6% in Q2 2024, but technology use increased, and US elections may impact future prices.
Open FlipIndian benchmark indices likely to open positive on October 29, 2024. The GIFT Nifty was trading at 24,387 at 7 am. On October 28, the Sensex had gained 602.75 points, or 0.76%, to reach 80,005.04, while the Nifty was up 158.35 points, or 0.65%, at 24,339.15. This comes after buying across sectors and majorly in banking and metal stocks.
Open FlipPrestige Estates Projects acquires 17.45 acres of land in Bengaluru for Rs 462 crore, to be developed into 2.68 million sq ft of residential area, and buys stakes in several subsidiaries, including K2K Infrastructure India, Prestige Garden Estates, and Prestige Projects, for a total consideration of over Rs 1,000 crore.
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