HUL’s operating environment still tough, may need higher ad spends
Contrary to expectations of a double-digit increase, net profit at the maker of Dove soaps and Red Label teas climbed at a modest 8%. The operating profit margin was 23.6%, rising 40 basis points over the year-ago level.
ITC to cross Rs 500 mark, may see more gains in next few sessions
ITC shares tested a lifetime high of ₹493.7 on Thursday before closing as the best performer on the Nifty with nearly 3% gains at ₹491.50. The conglomerate also became the seventh Indian company to cross a market capitalisation of ₹6 lakh crore.
Dalal Street party soon: Nifty a step away from mount 20k
The Nifty scaled a new high of 19,991.85, beating its previous record of 19,851.70. The gauge of top 50 companies ended at 19,979.15, up 146 points or 0.74% from the previous close. The Sensex topped 67,619.17 in Thursday’s trading, surpassing Wednesday’s all-time high of 67,171.38. The index closed at 67,571.90, up 474.46 points or 0.71% […]
Global tech stocks surge as US rally triggers a rush for winners
The MSCI Japan IT index has surged 36% so far this year, while the MSCI Taiwan and Europe IT indices have rallied 30% and 25%, respectively. The MSCI Korea IT index has risen 31% since January 1. China remains an outlier, weighed down by economic troubles in the world’s second-largest economy.
Jio Fin valued at Rs 1.66 lakh cr, making it no.3 NBFC in India
The ‘constant price’ of Jio Financial was discovered in a session held on the NSE on Thursday between 9 AM and 9.45 AM. This is the first time NSE held a special session for ‘constant price’ discovery following a demerger.
Sustained deal flow a bright spot for Infosys amid sharp cut in full year revenue guidance
Infosys reported a minor rise in its sequential revenue in Q2 2021 due to an increase in the total contract value of new deals from the previous quarter. The company announced a mega deal worth $2 billion earlier in the same week which added to the healthy business momentum.