Vedanta Q1 Preview: Revenue may go up by up to 15% YoY; 59% uptick in EBITDA seen

Nuvama has projected the highest adjusted PAT figure for Vedanta but anticipates a 30.8% decline in net profit growth. In contrast, Kotak and Phillip forecast PAT growth of up to 242% year-on-year. Kotak has the highest revenue estimate at Rs 38,674 crore, expecting an over 15% year-on-year increase. The company will announce its earnings on […]

Tech View: Nifty ends below 20-DMA. Here’s how to trade on Tuesday

According to Nagaraj Shetti of HDFC Securities, the Nifty’s short-term trend is significantly bearish, with weakness evident across various timeframes. The key support level to watch for further downside is around 23,625, which aligns with the 38.2% Fibonacci retracement level. On the upside, immediate resistance is anticipated at 24,250.

Where is the big growth kicker going to come in for Tanishq? Titan MD answers

CK Venkataraman, MD of Titan, highlighted the need for higher standards and innovation in Tanishq to sustain growth. He noted July’s improved performance, despite Q1 challenges with fewer weddings and fluctuating gold prices. Venkataraman also discussed market strategies, rural versus urban growth, and the potential impact of lab-grown diamonds on the diamond industry.

Aditya Arora on 2 sectors that can outperform in near term

So, the medium-term trend is definitely disrupted and it could trend lower. It is all news driven right now. As the news flow comes in the global market that is how the markets will pan out. But if we talk about the very short term, then Nikkei is down 28% in one month. If there […]

Ola Electric IPO subscribed 64% in 2 days. Check GMP and other details

Ola Electric’s IPO achieved 64% subscription on the second bidding day. Retail investor interest was significant, with 2.43 times subscription. Analysts suggested subscribing due to Ola’s market position. The company secured over Rs 2,700 crore from anchor investors like HDFC and SBI Mutual Fund. Founder Bhavish Aggarwal will offload 37.9 million shares.

China’s yuan leaps to 7-month high, led by stronger yen, unwinding of carry trade

The Chinese yuan reached its highest point against the U.S. dollar in seven months due to a stronger Japanese yen and investors reversing carry trades. The weak U.S. labor data and potential Federal Reserve rate cuts contributed to the yuan’s rise. Future movements hinge on Chinese exporters’ decisions and domestic economic factors.

European stock markets tumble at open

European equities hit a six-month low on Monday amid global market concerns over a potential U.S. economic downturn. The STOXX 600 index declined by 3.1%. Financial sectors experienced the most substantial losses. Galderma and OCI Global were notable exceptions, showing gains due to acquisition-related developments by L’Oreal and Woodside Energy, respectively.