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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BHEL shares are pricing in 'a lot', say analysts despite Q2 profit
Tue, Oct 29, 2024 10:31 AM

BHEL shares are pricing in 'a lot', say analysts despite Q2 profit

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.

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Bharti Airtel shares in focus as Q2 net profit surges 168% on-year
Tue, Oct 29, 2024 10:30 AM

Bharti Airtel shares in focus as Q2 net profit surges 168% on-year

Shares 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.

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Deepak Nitrite arm gets nod to procure propylene and hydrogen
Tue, Oct 29, 2024 10:18 AM

Deepak Nitrite arm gets nod to procure propylene and hydrogen

Deepak 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.

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Dhanteras '24: Online grocery platforms offer gold and silver coin delivery
Tue, Oct 29, 2024 10:16 AM

Dhanteras '24: Online grocery platforms offer gold and silver coin delivery

Online 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.

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3 out of top 5 Indian IT firms report flat or shrinking operating margins
Tue, Oct 29, 2024 10:05 AM

3 out of top 5 Indian IT firms report flat or shrinking operating margins

Operating 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.

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Small-cap stocks tumble as investor sentiment shifts and earnings cool
Tue, Oct 29, 2024 10:04 AM

Small-cap stocks tumble as investor sentiment shifts and earnings cool

The 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.

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Suzlon Energy stock rises as Q2 net profit surges 96% on record order win
Tue, Oct 29, 2024 10:04 AM

Suzlon Energy stock rises as Q2 net profit surges 96% on record order win

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.

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Ramco Industries jumps over 6% as 14 million shares exchange hands
Tue, Oct 29, 2024 10:01 AM

Ramco Industries jumps over 6% as 14 million shares exchange hands

Ramco 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.

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Adani Power shares tumble 3% after Q2 PAT falls 50% YoY
Tue, Oct 29, 2024 9:53 AM

Adani Power shares tumble 3% after Q2 PAT falls 50% YoY

Shares 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.

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Infosys share price in focus as stock trades ex-dividend today
Tue, Oct 29, 2024 9:52 AM

Infosys share price in focus as stock trades ex-dividend today

Stock 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.

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Suzlon Energy expects margin contraction as core business grows
Tue, Oct 29, 2024 9:51 AM

Suzlon Energy expects margin contraction as core business grows

Suzlon 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.

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📢 Benchmark indices open on a flat note today; Nifty near 24,300
Tue, Oct 29, 2024 9:22 AM

📢 Benchmark indices open on a flat note today; Nifty near 24,300

📈 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.

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Gold prices end 0.38% higher at Rs 77,917 on October 28: MCX data
Tue, Oct 29, 2024 9:16 AM

Gold prices end 0.38% higher at Rs 77,917 on October 28: MCX data

Gold 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.

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Indices may open positive on Oct 29, 2024
Tue, Oct 29, 2024 9:11 AM

Indices may open positive on Oct 29, 2024

Indian 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.

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