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.

Open Flip
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.

Open Flip
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.

Open Flip
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.

Open Flip
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.

Open Flip
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.

Open Flip
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.

Open Flip
📢 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.

Open Flip
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.

Open Flip
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.

Open Flip
Prestige Estates Projects acquires 17.45 acres land in Bengaluru
Tue, Oct 29, 2024 9:10 AM

Prestige Estates Projects acquires 17.45 acres land in Bengaluru

Prestige 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 Flip
Agri Picks Report October 29, 2024: Geojit Financial Services
Tue, Oct 29, 2024 9:09 AM

Agri Picks Report October 29, 2024: Geojit Financial Services

Rajasthan'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 Flip
Aurionpro Solutions bags multiple orders in data centre sector
Tue, Oct 29, 2024 9:08 AM

Aurionpro Solutions bags multiple orders in data centre sector

Aurionpro 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 Flip
BEL bags bullish calls after Q2 result beat estimates
Tue, Oct 29, 2024 9:06 AM

BEL bags bullish calls after Q2 result beat estimates

Shares 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 Flip
OBSC Perfection shares to debut today. GMP indicates muted listing
Tue, Oct 29, 2024 9:04 AM

OBSC Perfection shares to debut today. GMP indicates muted listing

The 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 Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon