Wall Street shares close up as megacap tech stocks rally
Investors cheered Alphabet’s first-ever dividend, its $70 billion stock buyback program, and better-than-expected first-quarter results. Its shares jumped 10% and reached a record high, lifting the Google-parent’s market value above $2 trillion.
Maruti Suzuki goes big on sales, earnings follow
The company said it expects SUVs to remain the dominant category in the Indian market, adding that it will continue to launch new vehicles in the segment to strengthen its market share. However, small car sales, once its bread and butter, are unlikely to revive in the next two years, it said.
Motilal Oswal net profit soars, to issue bonus shares
The company’s revenue from operations soared by 108% to 2,141.3 crore from 1,027.4 crore in the previous year. For FY24, the company posted a consolidated net profit of 2,446 crore, reflecting a 161% growth over the previous fiscal year. The board has approved the issuance of three bonus shares for every one share.
Lending service providers may have to provide digital view of all offers: RBI
The Reserve Bank of India (RBI) is considering new rules for digital lending, aiming to enhance transparency. The proposed guidelines would require lending service providers (LSPs) to digitally share all available loan offers from willing lenders with borrowers. This move aims to empower borrowers by providing a clear view of their loan options, including details […]
Bajaj Finance’s margin pressures make brokerages bearish
The average analyst price targets on Bajaj Finance after the fourth quarter results stood at ₹8,477 implying an upside of 20.6% over Friday’s closing.
Analysts cheer Tech Mahindra roadmap
Analysts said that the company’s new CEO, Mohit Joshi, unveiled a 3-year turnaround plan to exceed industry-leading revenue growth by FY27. “We believe near-term monitorable for the company’s progress towards this goal would be immediate margin improvement in FY25 and steady revenue growth improvement in subsequent years,” said Nomura in a note.
Deals, hiring show HCL Tech can tap expected IT bounce
Revenue in the major markets of the US and Europe grew sequentially by 4.2% and 2.3%, respectively, while major business verticals also showed higher revenue. But what sets HCLTech apart from peers is the fact that it continued to add headcount during the quarter.
Commercial paper issuances touch a 4-year high of Rs 1.2 lakh crore
CP issuances are still not as high as 2018 levels when they touched ₹3.1 lakh crore in July-September, as NBFCs look for other funding avenues like securitisation, where volumes peaked in FY24 at ₹1.9 lakh crore. CPs are short-term, unsecured debt instruments issued by corporates.