Chennai Petroleum tumbles over 15% as profit falls 99% QoQ
The company’s total expenses surged 75.84% year-on-year (YoY) to Rs 22,870.80 crore during the quarter under review. The cost of raw materials consumed soared 132.42% YoY to Rs 18,842.33 crore in the second quarter of the financial year 2023.
Hot Stocks: Brokerage view on Dabur India and Reliance Industries post Q2 results
The brokerage said that the positives include market share gains across 95% of the portfolio and the announcement of the acquisition to expand the food business.
Big Movers on D-St: What should investors do with Canara Bank, ICICI Bank and SBI that hit fresh 52-week highs?
Stocks that hit a fresh 52-week high on Tuesday included names like Canara Bank which closed with gains of over 5%, ICICI Bank which closed marginally in the red and State Bank of India ended with gains of more than 1%.
What changed for market while you were sleeping
Global equity investors parsed mixed messages Thursday as Chinese shares looked set for further recovery while weak tech earnings clouded the outlook for US stocks. Treasury yields fell.
Oil prices continue climb on strong crude demand, weaker dollar
The dollar’s weakness also added support, as the greenback’s strength of late has been a notable factor inhibiting oil market gains. A weaker dollar makes greenback-denominated crude less expensive for other currency holders.
Dabur to acquire 51% stake in Badshah Masala for Rs 588 crore
FMCG major Dabur India on Wednesday announced that it will be acquiring a 51% stake in Badshah Masala Private Limited for Rs 587.52 crore. With this, Dabur has entered into branded spices and seasoning market in India, worth over Rs 25,000 crore. Badshah Masala is engaged in the business of manufacturing, marketing and export of […]
Another closely watched recession alarm is ringing
At times Tuesday and throughout much of Wednesday, another segment of the curve also inverted, with the three-month yield inching above the 10-year yield. Since the late 1960s, this part of the yield curve has inverted roughly a year before the start of a recession, with a range of six to 15 months, according to […]
Investments in energy storage, smart grid up 66%
During January-September 2022, the energy storage segment garnered $22 billion funding through 92 deals. This is 69% higher against the $13 billion raised in 74 deals in the year-ago period. The rest were made in smart grid and energy efficiency areas.
Retail investors’ bets fail to give good returns in September quarter
The stock prices going up or down after individual investors enter the stock does not appear to be a trend, but several mid-and small-caps stocks have gone up in this frenzy post-Covid where valuations are being ignored and were corrected sharply in the last few months.
IGL’s underperformance may not reverse for now on pricing woes
In the September quarter, the average cost of gas for IGL rose to Rs 35.1 per scm, up Rs 5.1 per scm over the previous quarter, while average realisation increased by Rs 3.3 per scm. This resulted in a sharp compression in margin. The pressure on operating margin of IGL is likely to remain elevated […]