Big movers on D-Street: What should investors do with Infosys, Just Dial and Tata Motors?
Stocks that were in focus included names like Infosys, which rose 1%, Just Dial, which rose 14%, and Tata Motors, whose shares declined 1.54% on Thursday.
Infosys sustains deal wins, near-term outlook hazy
Infosys disappointed in FY24 with slow revenue growth, weak guidance, and shrinking headcount. Despite TCV of new deals, the company faces pressure. Stock weakness expected due to lackluster guidance and margin contraction.
HDFC Life Q4 net profit up 15% on strong renewals
During the same quarter, in the previous year, the company had reported a profit of ₹358 crore. The insurer generated 18% growth in back-book surplus during the year.
Passive funds lose charm amid falling returns
There are a couple of reasons for a fall in the passive fund flow. First, the return on active large cap funds have been superior to passive funds over the past 12 months. For instance, ICICI Pru Blue Chip, the biggest large cap fund from ICICI Prudential Asset Management Company, delivered 37.4% return while its […]
Power Grid & Hitachi Energy top power picks: Goldman Sachs
The brokerage said in a client note on Thursday that power transmission is key to India’s transition to clean energy and the government is assisting the viability of renewable projects via indirect fi nancial support worth $270 billion. Power Grid shares rose 2.1% to Rs 280 and Hitachi soared 10.4% to Rs 8,350, while Schneider […]
Promoters hike stake in over 200 companies on brighter prospects
For instance, Adani Group increased its stake in Ambuja Cement from 63.15% to 66.70% in the March quarter by converting the warrants issued in October 2022. Aditya Birla Group increased its stake in Grasim by 31 basis points to 43.06% in the March quarter by subscribing to the rights issue.
Government bonds face FPI selloff as US yields harden
Adding to the sudden reversal in foreign buying interest in bonds is the rise in crude oil prices over the past few weeks due to concerns of tighter supply and a recent flare-up in Middle East tensions. A higher trajectory for crude oil prices imparts uncertainty to the outlook on India’s inflation and trade deficit.
Infosys Q4 net profit jumps 30%; company buys German tech firm for Rs 450 million
Profit climbed to ₹7,969 crore in the March quarter, beating ET’s poll of ₹6,103 crore. Other income buttressed the bottom-line through what turned out to be a tough year for revenue expansion, which hit the lowest pace in a decade. Headcount shrank by about 26,000, again a rarity for India’s technology bellwether.