Adani Power goes for a 1:5 stock split, Q1 net profit dips 15%
Adani Power’s board has approved a stock split, dividing each share of ₹10 into five shares of ₹2, aiming to broaden retail investor participation. The company reported a 15.5% drop in its Q1 consolidated net profit to ₹3,305 crore, with revenue declining 5.9% to ₹14,167 crore. Despite this, EBITDA from continuing operations stood at ₹5,744 […]
CEO’s exit sparks a sell-off in PNB Housing Finance, stock falls 17%
PNB Housing Finance shares plummeted over 17% following CEO Girish Kousgi’s unexpected resignation, marking its worst fall since 2018. Kousgi, known for revitalizing struggling lenders, leaves a leadership void, being the third top-level exit this fiscal year.
No Iron Don to protect D-Street, indices slump 1% under US fire
Indian equity indices closed nearly 1% lower on Friday, marking their fifth consecutive week of losses due to concerns over potential US tariffs on Indian exports. The NSE Nifty ended at 24,565.35, while the BSE Sensex closed at 80,599.91. Pharma stocks were among the top losers, with Sun Pharmaceutical Industries tumbling 4.5%. Foreign portfolio investors […]
Delhivery Q1 Results: Net Profit surges 68% YoY to Rs 91 crore
Delhivery reported a significant 68.5% year-on-year increase in net profit for the first quarter, reaching ₹91 crore, driven by efficient operations and consistent revenue. The company’s express parcel shipments experienced a 14% volume growth, reaching 208 million. The recent acquisition of Ecom Express is expected to further boost Delhivery’s market share in the 3PL segment.
Why looking for the best fund or asset class is a waste of time: Zerodha’s Nithin Kamath
Zerodha CEO Nithin Kamath advises investors to avoid chasing top funds and instead focus on boosting their earning potential. He recommends low-cost multi-asset index funds as simple, effective investment tools. Zerodha AMC recently launched such a fund to simplify investing. This single fund gives investors exposure to large-cap and mid-cap equities, government bonds, and gold […]
Why stock market fell today: Sensex drops 586 points, Nifty below 24,600. Here are 6 reasons behind the selloff in Indian shares
Indian shares plummeted on Friday, with the Sensex and Nifty falling sharply due to global headwinds and U.S. tariffs on Indian exports. Persistent foreign fund outflows and a strengthening dollar further pressured the market. Pharma stocks also suffered following concerns over potential U.S. price regulations. Technical analysis suggests a further downside, with key support levels […]
Amazon share price tumbles 7% after cloud computing growth disappoints investors
Amazon.com share price fell about 7% on Friday as the tech giant’s results fanned investor fears its cloud unit was falling behind Microsoft and Alphabet in the artificial intelligence race.
NSDL IPO subscribed over 41 times on Day 3; GMP drops to 16%. Check reviews, other details
NSDL’s IPO witnessed significant investor interest, being oversubscribed 41 times, driven primarily by QIBs. Grey market premiums suggest a strong listing, with brokerages recommending a ‘Subscribe’ rating for long-term investors, citing NSDL’s market position and growth potential. The IPO price was set between Rs 760 to Rs 800 per share.
ITC Q1 Results: Cons PAT rises 3% YoY to Rs 5,244 crore, revenue jumps 19%
ITC Q1 Results: FMCG major ITC reported a 3% year-on-year increase in its consolidated net profit for the June quarter at Rs 5,244 crore on Friday, compared to Rs 5,092 crore in the year-ago period. The profit after tax (PAT) is attributable to the owners of the company.
Nuvama shares sink 6.5% in 2 days amid tax raids tied to Jane Street probe
Nuvama Wealth Management’s shares have declined following income tax searches related to the Jane Street market manipulation probe. While Nuvama hasn’t been directly implicated by SEBI, its role as Jane Street’s trading partner in India has sparked investor concerns. SEBI alleges Jane Street manipulated index levels, amassing significant profits.