Budget Jitters? RIL, banks drag Sensex over 100 pts lower, Nifty below 24,550 (22-07-2024)
The 30-share index fell 103 points, or 0.13%, to settle at 80,502. The broader NSE Nifty dropped 22 points, or 0.09%. From the Sensex pack, RIL and Kotak Mahindra Bank were top laggards, falling about 3.5%. ITC, SBI, HCL Tech, IndusInd Bank, Bajaj Finance and Bajaj Finserv also closed lower, while NTPC, UltraTech Cement, HDFC Bank, and Tata Steel closed higher.
BigBloc Construction board approves issue of 1:1 bonus share (22-07-2024)
"Free reserves of Rs 28.31 crore will be utilised for the bonus issue. Bonus issue is aimed at to reward existing shareholders, enhance liquidity, and expand the shareholder base," the company said.
Stock market update: FMCG stocks up as market falls (22-07-2024)
The 30-share BSE Sensex closed down 102.57 points at 80502.08
Stallion India Fluorochemicals gets Sebi’s approval to float IPO (22-07-2024)
Proceeds from the issue will be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.
Stallion India Fluorochemicals gets Sebi’s approval to float IPO (22-07-2024)
Refrigerants supplier Stallion India Fluorochemicals has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.
E2E Networks Ltd – Listed small Cloud computing player (22-07-2024)
Here are the key points from the Q1 FY25 concall:
- Capex Commitment: The management clarified that they are not committing to an 800 crore capex. In the previous concall, they mentioned that ideally, they would need to invest 800 crore capex, which was misunderstood by investors. This quarter, they have denied providing that guidance.
- *Demand and EBITDA Margin: Despite not committing to the 800 crore capex, the demand remains very high. The management expects to maintain the same EBITDA margin going forward.
- Strategic Shift The management is shifting their strategy to focus on high-end players, whereas previously, they were onboarding all small players. They believe the market size is sufficient to accommodate more players like them.
- International Business: Their medium-term goal is to achieve 30% of their business from international markets.
- Technology Implementation: Coming quarter, they plan to implement 256 H100 chips, bringing the total to 700 H100 chips.
- ARPU Improvement: The management is optimistic about improving their ARPU from 7.5 lakh.
- Current Quarter Capex and Utilization: The current quarter capex is 23 crore, with a 90% capacity utilization rate. Their MRR is 14.5 crore.
- EBITDA Margin Sustainability: The management is optimistic about sustaining the EBITDA margin even with the emergence of more players.
Markets may get into a consolidation phase for next 3-6 months: Niket Shah (22-07-2024)
I would say that obviously allocation to defence moves up, allocation to rail moves up, because obviously it has significant impact on the rest of the economy.