QUEST CAPITAL MARKETS LTD Q4 RESULTS
Ahead of Market: 10 things that will decide stock market action on Thursday
The Indian market closed flat on Tuesday, ahead of the Christmas holiday, with gains in FMCG and auto stocks being offset by losses in metal and power stocks. Analysts predict range-bound movement due to economic concerns, Q3 results, and the upcoming Union budget, amidst mixed global market performances.
Headwinds stir, but fail to shake as ET500 companies show strong revenue and profit growth in FY24
On a year-on-year basis, the sample's revenue increased by 8.7% in FY24, slower than the 22% growth in the previous year, reflecting demand weakness. Net profit, on the other hand, shot up by 30% to Rs 14.2 lakh crore due to softer input costs and stable interest outgo relative to the operating profit (EBIT). Net margin improved to 8.7% compared with 7.3% in the previous year and 4.9% five years ago.
Nitco shares zoom 5% after bagging Rs 105 crore order from Prestige Estates
Nitco's shares jumped 5% after landing a Rs 105.4 crore tile and marble supply order from Prestige Estates. With another Rs 104 crore in anticipated orders, the company sees growth despite reporting a wider net loss in Q2 FY25. The stock's bullish indicators contrast with its trading below key moving averages, showcasing its volatile performance.
Zomato, Swiggy shares in focus as GST council considers cutting food delivery GST to 5%
Shares of Zomato and Swiggy are likely to remain in focus due to the GST Council's potential tax cut on food delivery charges by e-commerce platforms to 5%, effective from January 2024. Zomato's shares closed 2% higher, while Swiggy's surged 11.7%.
Ashok Leyland shares in focus after securing order worth Rs 346 crore from Tamil Nadu State Transport Corporation
Ashok Leyland shares will be in focus after securing an order from the Tamil Nadu State Transport Corporation (TNSTC) to supply 1,475 BSVI diesel passenger bus chassis, valued at approximately Rs 345.58 crore. The delivery will occur between December 2024 and May 2025, with the contract following standard business terms and no adverse conditions, the company confirmed.
Indian Overseas Bank shares rally 5% on receiving Rs 1,359-crore income tax refund order
In Q2 FY24, Indian Overseas Bank posted a 24% surge in net profit to Rs 777 crore, due to interest income and onboarding of new customers. The bank had earned a net profit of Rs 625 crore in the same quarter a year ago. The bank earned an interest income of Rs 6,851 crore during the quarter compared to Rs 5,821 crore in the year-ago period.
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Market looking at Q3 result season, Budget; not much movement likely in next 2-3 weeks: Harsha Upadhyaya
Kotak AMC's CIO, Harsha Upadhyaya, anticipates modest earnings growth in FY25, particularly in the second half. Market volatility is expected to persist in the short term, influenced by Q3 results and budget expectations. While consumption remains weak, Upadhyaya favors IT and pharma over textiles due to cyclical uptrends and growth opportunities.
RITES shares rally over 4% after securing Rs 148.25 crore order from IIM Raipur
RITES shares rose 4.4% after securing a Rs 148.25 crore order from IIM Raipur for campus development. Despite lower Q2 profits, the company has seen over 18% gains this year.
Swiggy shares climb 7% after Q2 results. Should you buy, sell or hold?
Swiggy share price: Swiggy shares climbed following strong Q2 FY25 revenue growth, despite a reported loss of Rs 625.53 crore. Innovations like Bolt for 10-minute food delivery and Instamart expansion contributed to a 30% YoY increase in gross order value, with strong broker expectations for future growth in food delivery and quick commerce.
Average Swiggy order value can show double-digit growth every year; no plan to raise fresh funds: Rahul Bothra
Swiggy, with a healthy cash balance of over ₹8,000 crore, has no immediate fundraising plans. Their food delivery business is profitable and generating cash, while the quick commerce segment is projected to achieve profitability within six to seven quarters. They aim to double their dark store footprint by March 2025 and increase average order value at a double-digit pace annually.
Swiggy shares jump 9.4%, market cap hits Rs 1.14 lakh crore ahead of Q2 results
On Monday, when Swiggy had announced the expansion of its 10-minute food delivery service, Bolt, to over 400 cities and towns across India, its shares had closed 5% up. For the June quarter, the company reported operating revenue of Rs 3,222 crore while its net loss widened to Rs 611 crore from Rs 564 crore a year earlier.
Swiggy shares rally over 9% ahead of first Q2 results after listing
Swiggy Q2 results: Swiggy shares rose 9.4% to Rs 542.10 on the BSE. The company will release its Q2 financial results today. Swiggy's IPO had significant subscriptions and showed good investor interest. The company has faced net losses since inception but saw revenue double in FY24. In Q1, Swiggy reported a loss of Rs 611.01 crore compared to the same period last year.
HDFC Bank’s m-cap surpasses Rs 14 lakh crore for the first time after stock hits record high
HDFC Bank Share Price: HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after its stock hit a fresh record high of Rs 1,836.05 on the BSE. The market cap peaked at Rs 14,00,710 crore before slipping amid profit-taking in the broader markets. At 11:17 am, shares were trading at Rs 1,808.40, down 0.14%.
Profit apocalypse! 10 companies with steepest losses in Q2. Who blew it worst?
Indian companies faced a profit slump in Q2 FY25, with several sectors reporting declines. Vodafone Idea, Sammaan Capital, and Indian Oil posted significant losses. Analysts downgraded earnings forecasts, citing weak consumption and government spending, but anticipate a recovery in the second half of the fiscal year.
Siemens Q4 Results: Net profit zooms 45% to Rs 775 crore
Nov 26 (PT) Siemens on Tuesday posted a 45 per cent jump in its net profit to Rs 775 crore in the July-September quarter compared to the year-ago period on higher revenues. The company had reported a net profit of Rs 534 crore in the quarter ended on September 2023, a company statement said.
IT cos' Q2FY25 results ahead of estimates. Infosys, LTIMindtree among 9 brokerage buys
Indian technology companies exceeded their Q2 earnings forecasts, but their future guidance remained cautious. While some brokerages observed a potential bottoming out of pessimism, clear signs of increased spending in developed countries are still pending. Stocks like Infosys, TCS, and HCL Tech are among the top picks for many brokerages.
36 companies doubled their sales and PAT in a disappointing Q2 earnings season
Despite a lackluster Q2 earnings season, 36 companies defied the trend, doubling both sales and profits. Some achieved growth in the thousands of percentage points, driven by strong demand in sectors like pharma and realty. Analysts remain optimistic about a stronger second half of FY25, citing festive demand and rural recovery.
India's pharma sector registers strong Q2 FY25 growth, driven by North America market: Report
The major pharmaceutical companies of the country reported a 10 per cent year-on-year (YoY) growth in the second quarter of FY25, largely driven by strong performance in North America and the domestic market, according to a report by Axis Securities.
India Inc's interest cover weakens with slipping top & bottom lines
Indian companies faced a decline in interest coverage ratio to 4.8% in the September quarter. This was due to rising interest costs and slower growth in operating profit. Interest costs surged by 7.2% year-on-year, while revenue growth slowed down to 4.9%. Higher working capital requirements and increased borrowings further impacted the ratio.
GQG hiked stake in 4 Adani stocks, LIC booked profit in 2 in Q2
GQG Partners increased its stake in four Adani Group companies during the September quarter, while LIC reduced its holdings in two. These changes occurred before the recent allegations against Gautam Adani. The Adani Group has faced investor uncertainty since the Hindenburg report.
Disney Q4 Results: Adjusted profit tops estimates on strong results from entertainment unit, streaming
Disney's fourth-quarter adjusted profit beat Wall Street's expectations, bolstered by strong results from company's entertainment business and its streaming service.
HAL Q2 Results: Cons PAT jumps 22% YoY to Rs 1,510 crore, revenue up 6%
HAL Q2 Results FY25: Hindustan Aeronautics Limited (HAL) reported a consolidated net profit of Rs 1,510 crore for the quarter ending September 30, 2024, reflecting a 22% year-on-year growth from Rs 1,237 crore in the same quarter of the previous year.
Shree Cement shares fall 4% after Q2 results disappoint. Should you invest?
Shree Cement’s shares fell 4% on Tuesday to Rs 23,500.15 after the company reported an 80% YoY drop in Q2 profit, down to Rs 93.13 crore. The decline was driven by weak demand and lower prices for cement. Despite the seasonally slow quarter, sales volume also dropped 7% to 7.60 million tonnes.
NMDC shares slip 4% even as co announces 2:1 bonus issue, reports 23% YoY jump in PAT
NMDC shares fell 4.2% despite a strong Q2 performance and a 2:1 bonus share announcement. Revenue grew 19.7%, while profit rose 23% YoY. Motilal Oswal maintains a buy rating with a Rs 280 target.
LIC Q2 Results: Profit slips 4% YoY to Rs 7,621 crore
LIC Q2 Results: Net premium income during the reporting quarter increased 11% year-on-year (YoY) to Rs 1.19 lakh crore, compared with Rs 1.07 lakh crore in the same quarter last year.
RVNL shares fall over 5% after Q2 profit falls 27% YoY
RVNL Share Price: Rail Vikas Nigam Ltd (RVNL) reported a 27% YoY drop in Q2FY25 net profit to Rs 286.9 crore, impacted by lower margins and reduced earnings. Revenue declined 1.2% YoY to Rs 4,855 crore. However, sequentially, profit rose 28.1%, and revenue increased 19.2%. RVNL's shares surged 162% in 2024, currently trading at a P/E ratio of 77.8.
AkzoNobel India Q2 Results: PAT rises 4% to Rs 97 crore; Rs 70 per share dividend announced
AkzoNobel India reported a 4% YoY increase in PAT to Rs 97.9 crore and a 3% rise in revenue to Rs 982.3 crore, despite rising raw material costs. The company declared a Rs 70 interim dividend and is exploring strategic options in the Indian market.
Q2 results today: L&T, Dabur among 77 companies to announce earnings on Wednesday
L&T, Tata Power, and Dabur are key among 77 companies declaring Q2 earnings today. L&T's revenue is expected to rise by 16%, while Dabur may see a 5% year-on-year drop in revenue due to volume declines and distributor inventory corrections. Heavy rains impacted Dabur's out-of-home consumption.
CSB Bank Q2 Results: Profit rises 4% to Rs 138 crore
CSB Bank on Thursday reported a marginal 4 per cent rise in net profit to Rs 138 crore for the quarter ended September 2024. The Kerala-based lender had earned a net profit of Rs 133 crore in the year-ago period.
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