“Markets have gradually picked up with Nifty sustaining above the 25k mark. We expect this up-move to continue in the market with stock-specific action,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Stocks in news: RIL, HCL Tech, HDFC Life, PVR Inox, JSW Infra (15-10-2024)
The domestic brokerage on Monday reported a consolidated net profit at Rs 423 crore in Q2FY25, which was up 39% from Rs 304 crore reported by the company in the year ago period.
Asian stocks rise tracking US gains; oil declines (15-10-2024)
Benchmark indexes were up in Australia and Japan, and US futures advanced slightly. With earnings reports poised to drive US sentiment this week, the S&P 500 rose almost 1%, notching another record — its 46th this year. That’s a hint investors are not deterred by the reduced forecasts for third-quarter results and are instead betting on positive surprises.
Stock Market Live Updates: Kalyan Jewellers India (₹751.10): BUY (15-10-2024)
Sensex, Nifty, Share Prices LIVE: The outlook is bullish for Kalyan Jewellers India. The stock has begun the week on a positive not by rising over 4 per cent on Monday. This rise marks the end of the short-term correction that was in place since the last week of September. It also indicates that the broader uptrend has resumed.
Micro policies keep India’s push for insurance coverage on track (15-10-2024)
The global micro-insurance industry is projected to grow to $137 billion by 2029. India’s insurance penetration remains low at 4%, compared to the global average of 6.8%, but the government’s efforts through Jan Dhan accounts and social security schemes have laid a strong foundation for achieving the “Insurance for All” target by 2047. As of May 2024, 523 million PMJDY accounts were opened, with 55.6% held by women.
HCLTech’s bounceback in Q2 holds out hope of more (15-10-2024)
This contrasts with the lacklustre performance reported by TCS last week wherein the country’s largest IT exporter recorded slower-than-anticipated top-line growth and contraction in the margin. In addition, while employee attrition increased for each of the companies sequentially, TCS showed a higher headcount whereas HCLTech reported contraction for the second consecutive quarter.
DMart parent falls the most in three years and it’s still not rated a buy (15-10-2024)
Morgan Stanley downgraded the stock to underweight and slashed its price target to ₹3,702 from ₹5,769. JP Morgan cut its rating to neutral with a price target of ₹4,700 from ₹5,400. CLSA maintained its outperform rating but trimmed the price target to ₹5,360 from ₹5,650.
RIL profit slips 3.6% on weak O2C show (15-10-2024)
Consolidated profit after tax fell to ₹19,101 crore from ₹19,820 crore in the year earlier. Net profit attributable to owners of the company was down 4.7% to ₹16,563 crore from ₹17,394 crore a year earlier. Revenue from operations increased marginally by 0.2% to ₹2.35 lakh crore from ₹2.34 lakh crore in the year earlier.
Jio Platforms Q2 net rises 23% on tariff hikes, strong data demand (15-10-2024)
The rate hikes helped grow the average revenue per user (ARPU) by 7.3% from a quarter earlier to Rs195.10 for India’s telecom market leader. But it lost 10.9 million subscribers from the prior quarter to mainly state-run Bharat Sanchar Nigam Ltd that didn’t raise rates, said analysts. This was the first time in 12 quarters that it posted a fall in subscriber count.
ET Explainer: Breaking down IPO allotment for investors (15-10-2024)
The IPO allotment is managed by the registrar of the company and depends on the number of shares offered and valid bids received at or above the cut-off price.