Page 15 - Markets

IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days

Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50

InterGlobe Aviation slips 5% after 4% equity changes hands via block deal

Rakesh Gangwal was set to pare his stake in IndiGo by a further 4 per cent via block deals on Thursday. The block deal was said to be for 1.56 crore shares worth Rs 2,930 crore

Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results

However, Kitex Garments said the company's order book in queue for 2023-24 indicates achieving a better performance in Q1 and normal performance by Q2

Cement demand climbs up, not unusual profitability for Indian cos: Moody's

The infrastructure led investments in India will drive up the demand for cement and other building materials, said Moody's Investors Service in a report.

Siemens gains 3%, hits record high on strong operational performance in Q1

Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitization products & services across segments, ICICI Securities said

Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3

The company's overseas operations posted an EBITDA loss of Rs 62 crore in December quarter due to ramp up related issues of the new Al forgings capacities in Germany and the US

Sensex surges 600 points to scale 61,000-mark; ITC and RIL sparkle

The BSE benchmark Sensex surged 600 points on Tuesday, propelled by market heavyweight RIL, ITC, banking and IT shares amid positive global cues. Sliding crude oil prices in the international markets and buying by foreign investors also bolstered sentiment, traders said. The 30-share BSE Sensex ended 600.42 points or 0.99 per cent higher at 61,032.26. During the session, the index witnessed a high of 61,102.74 and a low of 60,550.25. The broader NSE Nifty surged 158.95 points or 0.89 per cent to finish at 17,929.85. ITC topped the Sensex gainers' chart with a jump of 3.31 per cent, followed by Reliance Industries, Bajaj Finance, ICICI Bank, Infosys, Axis Bank and Wipro. On the other hand, NTPC, UltraTech Cement, L&T, Sun Pharma, Asian Paints and Maruti were among the major laggards, shedding as much as 1.10 per cent. "Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India's retail inflation ..

Infosys, TCS better equipped to weather ChatGPT-led disruption: JP Morgan

Generative artificial intelligence models such as ChatGPT, JP Morgan said, can potentially simplify coding and democratize access to a wider pool of talent, driving a new source of disruption

ONGC Dec quarter consolidated profit jumps 26% on higher oil, gas prices

State-owned Oil and Natural Gas Corporation (ONGC) reported a 26 per cent jump in its third quarter net profit on the back of a rise in oil and natural gas prices. Net profit of Rs 11,044.73 crore, or Rs 8.78 per share, in October-December compared with Rs 8,763.72 crore, or Rs 6.97 per share, in the same period a year back, according to a company's stock exchange filing. The profit was, however, lower than the Rs 12,825.99 crore earnings in the immediately preceding quarter of July-September. The rise in profitability was helped by higher realisation on crude oil and gas the firm produces and sells. This offset the continuing decline in oil and gas production. ONGC earned USD 87.13 for every barrel of crude oil it produced and sold in the third quarter of the current fiscal, up from USD 75.73 a barrel realisation in the year-ago period. Crude oil is refined at refineries to produce fuels such as petrol and diesel. Prices of natural gas, which is used as fuel to produce electrici

Adani Enterprises bounces 17% from day's low on massive jump in Q3 profit

For Q3FY23, Adani Enterprises' consolidated profit after tax (PAT) came in at Rs 820 crore as against a loss of Rs 12 crore in the same quarter last fiscal (Q3FY22)

Stock of this smallcap company has zoomed over 50% in four trading days

Shares of WPIL were locked in the 10 per cent upper circuit on the BSE at 01:09 PM. The stock also hit a new high of Rs 1,791.65

TMS Ep368: IT hiring, govt vacancies, Gaurav Ratnaparkhi, Aero India 2023

Bad time for engineering graduates? Is increasing govt size a good thing? Are Adani stocks worth your money? What is Aero India 2023? All answers here

Zee Entertainment Dec quarter profit plummets 92% as ad spends shrink

Zee Entertainment Enterprises reported a 92% slump in quarterly profit, hurt by shrinking advertisement spending and a rise in expenses

Nykaa Dec quarter profit plunges 71% to Rs 8.48 crore; revenue rises 33%

Beauty and fashion firm FSN E-Commerce Ventures, which operates under the Nykaa brand, posted a 70.75 per cent drop in consolidated profit to Rs 8.48 crore for the third quarter ended December, mainly on account of investment in retail stores. The company had reported a net profit of Rs 29 crore in the same period a year ago. The revenue from operations, however, increased by about 33 per cent to Rs 1,462.82 crore from Rs 1,098.3 crore in the December 2021 quarter. Nykaa's Executive Chairperson, MD, and CEO Falguni Nayar said the company is focussing on improving EBITDA (operational profit) margin. "Beyond EBITDA we call it investment that we are making for the future. One of the big costs is lease and rental. We are investing and rolling out physical stores. That is being taken by us as an operational cost. We are also looking to acquire 7 million (70 lakh) new customers. All that is being funded by operational cost," Nayar said. The company scaled up its SuperStore to 92,415 ...

Hindenburg row: Adani group reassures investors as stocks plunge further

Says business plans "fully funded" after reports about revenue target cut and capex halt

Sensex extends losses for second day; IT and bank stocks top drags

Equity benchmark Sensex declined around 251 points on Monday, pressured by heavy selling in IT and bank stocks amid a mixed trend overseas. A weak rupee further weighed on sentiment, traders said. Sliding for the second straight session, the 30-share BSE Sensex ended 250.86 points or 0.41 per cent lower at 60,431.84. During the session, the index touched a high of 60,740.95 and a low of 60,245.05. On similar lines, the broader NSE Nifty dropped 85.60 points or 0.48 per cent to finish at 17,770.90. SBI was the biggest loser in the Sensex pack, tumbling 2.83 per cent, followed by Infosys, TCS, Bajaj Finance, Tech Mahindra, Wipro and Axis Bank. In contrast, Titan, L&T, NTPC, Power Grid, Sun Pharma, ITC and HDFC twins were among the prominent winners, rising as much as 1.97 per cent. In the broader market, the BSE midcap and smallcap indices dropped up to 1.25 per cent. Elsewhere in Asia, markets in Tokyo, Hong Kong and Seoul closed in the red, while Shanghai settled higher. Equity

Brokerages raise ratings on Nippon, HDFC AMCs following better Q3 show

Among the four listed AMCs, two report profit growth in Q3, other two see a decline

Analysts cautious on mid, smallcaps; await earnings catch-up

Analysts remain cautious on mid-and-smallcap segments and suggest earnings need to catch up before the stocks start to recover

Debt-ridden Jaypee Infratech Dec quarter net loss widens to Rs 601 crore

Debt-ridden Jaypee Infratech Ltd, which is undergoing insolvency resolution, on Monday reported widening of its consolidated net loss to Rs 601.24 crore for the third quarter of this fiscal. Its net loss at stood Rs 540.03 crore in the year-ago period. Total income rose to Rs 312.66 crore in the December quarter of this fiscal from Rs 294.76 crore earlier. During the April-December period of this fiscal, the consolidated net loss stood at Rs 1,825.03 crore as against a net loss of Rs 1,683.32 crore in the year-ago period. Total income rose to Rs 946.19 crore in the first three quarters of this fiscal from Rs 770.4 crore in the corresponding period of the previous year. The company is earning revenue from the Yamuna Expressway Project that connects Greater Noida to Agra, as well as its healthcare business. Jaypee Infratech Ltd is facing corporate insolvency resolution process (CIRP) since August 2017. In November last year, the National Company Law Tribunal (NCLT) reserved its o

Adani Enterprises Q3 results tomorrow: Know about its past performance here

Adani Enterprises has been in the spotlight since January 24 when the US-based short-seller Hindenburg Research released a report stating that its shares are overvalued