Tata Steel Ltd. swung back to profitability in the September quarter, reporting a net profit of Rs 833 crore compared to a loss in the same period last year. Despite a 3% YoY decline in revenue, the company’s EBITDA reached Rs 6141 crore with margins at 11.4%. The India business saw a 5% revenue dip, while NINL’s revenue increased.
Posts in category Economic Times
Big movers on D-Street: What should investors do with Tata Steel, Apollo Hospitals and Delta Corp? (07-11-2024)
Indian stock markets surged over 1% on Wednesday, propelled by Donald Trump’s US election victory. Analyst Priyank Upadhyay recommends buying opportunities in Tata Steel and Apollo Hospitals, citing technical indicators suggesting upward momentum. However, he advises a cautious stance on Delta Corp until a stronger bullish signal emerges.
Q2 results today: Tata Steel, Apollo Hospitals among 166 companies to announce earnings on Thursday (07-11-2024)
The second-quarter earnings season is in full swing, with 166 companies set to release their July-September 2024 results. Key players like M&M and Trent are anticipated to post robust revenue growth, driven by strong performance in their respective sectors. While M&M’s profits are projected to remain steady, Trent’s bottom line is expected to see significant improvement.
ACME Solar raises Rs 1,300 cr from anchors (07-11-2024)
ACME Solar raised Rs 1,300.5 crore from 58 anchor investors ahead of its IPO, selling 45 million shares at Rs 289 each.
Rubicon Research, Sai Life, Sanathan Textiles, Metalman IPOs get nod (07-11-2024)
Four companies have received approval from SEBI for their IPOs. These companies are Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto. The IPOs will consist of fresh issues and offers for sale. The companies will raise funds from the public market.
Oil prices regain ground as investors eye U.S. election fallout (07-11-2024)
Oil prices saw a slight increase on Thursday, recovering from a sell-off sparked by the U.S. election. Concerns over potential oil supply disruptions due to a Trump presidency and Hurricane Rafael in the Gulf of Mexico overshadowed a stronger dollar and increased U.S. crude inventories.
Gold struggles for momentum as dollar firms; eyes on Fed (07-11-2024)
Gold prices remained relatively stable as the dollar strengthened following Donald Trump’s election victory. Investors are now focused on the Federal Reserve’s impending rate cut decision, anticipating a 25-basis-point reduction. Trump’s win and potential economic impact have raised questions about the future pace of Fed rate cuts.
Dollar soars, euro tumbles as Trump wins US presidential election (07-11-2024)
The dollar surged to a four-month high after Donald Trump’s victory in the U.S. presidential election. Markets reacted to expectations of policies that could accelerate U.S. growth and inflation. Trump’s proposed tariffs and deregulation could impact global economies and currency markets. While the immediate impact was a stronger dollar, Trump’s preference for a weaker currency adds uncertainty to long-term forecasts.