Shares 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.
Open FlipRajasthan's kharif season 2024-25 is expected to see a 134% increase in cotton output to 6.1 million tonnes and a 25.1% rise in total food grain production to 11.2 million tonnes, driven by significant increases in moong, urad, and oilseed production, according to the state's agriculture department's first advance estimates.
Open FlipAurionpro Solutions on Tuesday, October 29, said it has bagged multiple significant orders in the data cetre sector, including consultancy and end-to-end design-and-build services for tier 3 data centres in India. The order wins include a comprehensive design and turnkey build execution project for an edge data centre in the NCR region for around ₹150 crore.
Open FlipShares of Bharat Electronics (BEL) are in focus on October 29 after the defence and aerospace company's fiscal second-quarter earnings beat Street estimates, driven by better-than-expected margin performance. Morgan Stanley has given an overweight call on 'BEL', setting a target price of Rs 364 per share. The company is projecting revenue growth of 15 percent for F25.
Open FlipThe shares of OBSC Perfection will debut on the NSE SME platform on Tuesday. Ahead of the listing, the company's shares are trading with a GMP of Rs 6.Considering the upper price band of Rs 100, the stock is expected to list at a premium of 6% over the issue price. The IPO, which was completely a fresh equity sale of 66.02 lakh shares, was subscribed just over 16 times at close.
Open FlipShares of Bharti Airtel are expected to be in focus on Tuesday as the company reported strong Q2FY25 earnings though they were below Street's estimates. The consolidated net profit for the fiscal second quarter jumped 168% on-year on the back of strong average revenue per user (ARPU) growth and subscriber adds, although a Rs 318 crore exceptional loss caused it to miss estimates.
Open FlipTata Power has acquired a 40% stake in Bhutan-based Khorlochhu Hydro Power Limited for Rs 830 crore. The acquisition includes the development of the 600 MW Khorlochhu Hydropower Project, costing approximately Rs 6,900 crore. This move aims to accelerate Tata Power's transition to clean energy. The company's shares rose marginally to Rs 425, up 78% over the past year.
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