Earnings booster! 44 smallcap, 5 midcap stocks gave Sensex-beating returns last week
Several smallcap and midcap stocks gained double-digit returns last week in the Indian market, while Sensex remained mostly flat. The gains were driven by strong performance results and growth outlooks. Rail-related firms were in demand following an impressive FY23 performance by Indian Railways, while companies such as IndiaMART InterMESH, KEC International, and Mahindra & Mahindra […]
Mind Over Money: 60-min Vipassana & smart strategy helped this CMT trader beat a 45-sessions losing streak
Sovit Manjani, CEO and Chartered Market Technician (CMT) at http://www.systematicalpha.in, turned to Vipassana meditation after facing a challenging 45-session loss period in his long-only model from January 2018 to mid-2020. The multi-cap systematic trading model by Manjani focused on small and mid-caps, leading to difficulties due to prevalent issues in YES Bank, DHFL, ASM, Jet […]
5 world market themes for the week ahead
Fresh turbulence in U.S. banks coupled with debt-ceiling worries in Washington will put the recent world-market stability to the test in May. Wednesday’s U.S. inflation data and Bank of England interest rate decision are also highlights on the calendar, whereas the Chinese data will issue a reality check after March’s surprise. UK businesses may see […]
Dow has best day since Jan 6 after Apple rally, jobs data
Apple’s quarterly results also cheered investors worried about a potential recession. The iPhone maker’s shares hit their highest level in about nine months, and the stock ended up 4.7% in its biggest daily percentage gain since November.
Adani Enterprises’ ability to service debt improves
Adani Group’s flagship company, Adani Enterprises Ltd, has improved its ability to service debt as of March 31, 2023, after its gross debt fell 7% to INR 38,320 crore, while earnings increased. The company’s interest service coverage ratio rose to 3.09 compared with 2.41 a year earlier. EBITDA more than doubled to INR 10,025 crore, […]
Stocks drop 1% on deep selloff in HDFC twins
The Sensex fell 694.96 points or 1.13% to close at 61,054.29, a day after the index surged to its highest in four and a half months. The Nifty declined 186.80 points or 1.02% to end at 18,069. Both the indices once again turned negative for the year on Friday, pulling back about 0.5% year-to-date.
GoI, Vedanta likely to discuss Balco IPO
The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
Equitas Small Finance Bank Q4 Results: PAT jumps 58% YoY to Rs 190 crore
The lender’s gross advances grew 35% year-on-year to Rs 27,861 crore. Loan disbursement during the quarter at Rs 591Equitas Small Finance Bank reported a 58% jump in net profit for the March quarter at Rs 190 crore, backed by business expansion and betterment of asset quality.
Forex reserves surge to 10-month high of $588.7 billion
The rise in the reserves last week was driven by an increase in the RBI’s foreign currency assets, which rose $5 billion to $519.4 billion, latest data showed. The central bank’s gold reserves declined by $494 million to $45.6 billion last week.
HDFC twins log the biggest single-day decline in 3 years
HDFC Bank shares declined 5.9% to close at ₹1625.35, and HDFC stock plunged 5.6% to ₹2701.15 on Friday. Friday’s drop is their highest single-day decline since May 2020