US Stock Reports, Quotes and News
Pradeep Gupta of Anand Rathi Group discusses FIIs turning net sellers in India due to various global uncertainties and market volatility, emphasizing the importance of long-term strategic decisions in an interview with ETMarkets. Gupta says: \”On a risk-adjusted basis, there is equal positivity on large and small cap indices, with slightly more caution on the mid-cap segment.\”
Sanjiv Bhasin of IIFL Securities predicts Honeywell Automation\’s share price is going to reach Rs 1 lakh, while he had bought it years ago for Rs 89. Strong market performances by Hindustan Aeronautics and Mahindra indicate stability amidst FII selling worries. Opportunities in PSUs like NALCO, IOC, and SAIL emerge in the current market scenario.
Titagarh Rail Share Price: Titagarh Rail Systems shares surge 18% to all-time high after stellar Q4 performance. Nuvama raises target price to Rs 1,475. Operating performance remains robust, with optimistic outlook on passenger segment revenues and railway capex. Morgan Stanley also initiates \’overweight\’ rating.
Crompton\’s shares surged 16% in today\’s trading session, reaching a new 52-week high of Rs 394, following the announcement of its highest ever quarterly standalone revenue of Rs. 1,797 crore. The company also reported a significant 22% year-on-year increase in net profit, amounting to Rs 160.97 crore, with an EBIT margin of 9.8%.
Among major shares in Tokyo, chip-making equipment manufacturer Tokyo Electron was down 1.98 percent at 36,090 yen and Nikon was off 1.12 percent to 1,667.5 yen.
Opponents of NSE\’s plan to extend trading hours in derivatives are now facing the reality of three working Saturdays in 2024. NSE and BSE are conducting a test session to ensure market functionality in case of a disaster.
Global investors have pulled a net $3.5 billion from India’s stock markets so far in May, on course for the biggest withdrawal since June 2023, according to data compiled by Bloomberg.
HAL Q4 Results: The defence PSU had reported a profit of Rs 2,831 crore in the corresponding quarter of the last financial year. The net profit was up by a whooping 241% on a QoQ basis, Rs 1,262 crore being the PAT figure in Q3FY24. Moreover, the company has succeeded in clipping its expenses on a YoY basis.
On a sequential basis, profit after tax was down 23% QoQ from Rs 2,843 crore reported in the preceding December quarter. Meanwhile, revenues also dropped 6% compared with the third quarter period.
The benchmark equity indices tossed between ups and downs throughout the day and finally settled in the green. US rate -sensitive IT stocks contributed majorly to the fag-end rally as all 10 constituents advanced, adding between 1% and 4.2%. Investors gained Rs 3.1 lakh crore on Thursday.
This will amount to a total payout of Rs 4,089 crore. May 25 has been fixed as the record date for payment of dividend. The announcements were made after market hours and the stock had ended at Rs 433.60 on the NSE — down by Rs 3.80 or 0.87% over Wednesday’s closing price. The company board has also approved setting up of a continuous cast copper rod plant in Saudi Arabia.
Substantial portions of the proceeds from the sale will be used to make the payment of taxes on current and future ESOP exercises. ESOPs are subject to payment of taxes on exercise in addition to the payment of capital gain tax on the sale of shares. Post the sale Yashish Dahiya will continue to have a 4.83% stake and Alok Bansal will have a 1.63% stake in PB Fintech on a fully diluted basis.