Nykaa shares jump 6% after Q1 PAT soars 152% YoY. Should you invest?
Nykaa saw its shares rise by 6% after reporting a 152% year-on-year increase in net profit for June 2024, reaching Rs 13.64 crore. Revenue for the quarter was Rs 1,746.11 crore, up 23%. The board also approved further stakes in Dot & Key Wellness and investment in Earth Rhythm, boosting its business strategy.
World affairs, HDFC Bank weightage worry indices
India’s equity indices dropped almost 1% on Tuesday, continuing their downward trend for a second day. Traders remained cautious due to geopolitical concerns and the upcoming US CPI data release. Both NSE Nifty and BSE Sensex saw significant declines, with HDFC Bank shares impacted by MSCI’s phased weight increase decision.
SpiceJet’s Ajay Singh to dilute stake by over 10% to raise Rs 3,000 crore amid financial struggles
Ajay Singh, the promoter of SpiceJet, is set to reduce his shareholding in the beleaguered airline by over 10% to raise approximately ₹3,000 crore. Despite the dilution, Singh will remain the largest shareholder, with his stake expected to fall to 30-35%. The airline aims to issue new shares to investors to bolster its capital base. […]
Stocks in news: Hero MotoCorp, Hindalco, Apollo Hospitals, Vedanta, Ola Electric
On Tuesday, the Sensex dropped nearly 700 points, extending the market’s losses. Key stocks such as Hero MotoCorp, Hindalco, Apollo Hospitals, and Vedanta were in focus due to new developments and quarterly results. Hero MotoCorp and Apollo Hospitals reported strong profit growth, while IRCTC and Nykaa also showed impressive gains.
Inclusion of 7 stocks in MSCI indices could draw $3 billion
India saw an influx of up to $3 billion in August due to MSCI’s adjustments to its indices. HDFC Bank’s weight was increased, and restrictions on Adani Group stocks were lifted. Seven companies joined the global standard index, boosting India’s weight in the emerging markets index to 20%.