Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous FII selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment. After gyrating between highs and lows, benchmark Sensex eked out gains of 9.83 points or 0.01 per cent to settle at 79,496.15. The barometer gyrated…
Indian equity benchmarks concluded Monday’s session nearly unchanged after witnessing significant intraday volatility, with the BSE Sensex marginally gaining 9.83 points or 0.01 per cent to close at 79,496.15, while the NSE Nifty 50 ended slightly lower by 6.90 points or 0.03 per cent at 24,141.30. The markets opened on a weaker note, with…
SEBI has asked qualified stock brokers (QSBs) to provide their clients trading supported by blocked amount in the cash segment using the UPI block mechanism or the 3-in-1 trading account, in addition to the current mode of trading, from February 1. The QSBs’ clients will have the option to either continue with the existing facility…
Shares of Shipping Corporation of India (SCI) surged 12 per cent on Monday on the BSE after the state-owned company reported a 35% year-on-year increase in consolidated net profit, reaching ₹291 crore for the quarter ending September 2024, up from ₹65.73 crore in the same period last year. Revenue rose to ₹ 1,491.23 crore, compared…
ITI shares surged over 11 per cent following its emergence as the lowest bidder for three packages of BharatNet Phase-3 projects for a total value of ₹4,559 crore. According to a stock exchange report, the company has emerged as the lowest bidder (L1) for Project 15, which involves work across the north-eastern states of Arunachal…
Target: ₹290 CMP: ₹224.24 Surpassing our ₹920 crore estimate on the better-than-expected gross margin, Ashok Leyland’s Q2 EBITDA slipped 6 per cent y-o-y to ₹1,020 crore. We expect India’s M&H CV sector to turn positive with 6 per cent growth in H2 and clock a 7 per cent CAGR over FY25-27, led by robust bus demand…
Target: ₹3,890 CMP: ₹5,893.80 Divi’s Laboratories -Q2FY24 revenue came in better than our estimates but EBITDA margin was lower. As a result, revenue was 8 per cent ahead of our estimates and EBITDA 6 per cent. Management commentary suggests revenue growth at 22.5 per cent y-o-y came in more from the custom synthesis part of…
Shares of Biocon gained over 8 per cent after the US Food and Drug Administration (USFDA) classified its Bengaluru unit as voluntary action indicated (VAI) The USFDA conducted an inspection focused on current Good Manufacturing Practices and a Pre-Licence Inspection (PLI) for a company’s facilities. This PLI aims to ensure that new biological products meet…
Shares of Life Insurance Corporation gained 1.4 per cent on Monday as brokerages remained bullish on the stock despite a 4 per cent decline in y-o-y standalone net profit to ₹7,621 crore in the second quarter of FY25. The State-owned insurer recorded 12 per cent growth in net premium income at ₹1,19,901 crore during the…
HFCL Limited and its consortium partners have emerged as the lowest bidders for multiple contracts worth over ₹8,100 crore in the BharatNet Phase III project, the company announced today. The HFCL-led consortium, which includes Rail Vikas Nigam Limited (RVNL) and Aerial Telecom Solutions Private Limited, secured bids valued at approximately ₹6,925 crore to provide middle-mile…
