US Stock Reports, Quotes and News
Rulka Electricals IPO: Rulka Electricals SME IPO opened today to raise Rs 26.4 crore on NSE SME platform. India\’s power generation grew by 8.87% in FY23. Company specializes in turnkey projects contractors for fire fighting projects. Company\’s revenues for Feb 2024 were Rs 65.27 crore. GMP was Rs 65.
Vodafone Idea Share Price: Kotak Institutional Equities, a domestic brokerage, reiterated a sell recommendation for Vodafone Idea, citing it as a high-risk, high-reward opportunity. They maintained that under bullish conditions, the stock could potentially rise to Rs 23, assuming a significant 10% 10-year ARPU CAGR.
Gold Price Today: Gold prices on MCX for June futures opened flat at Rs 73,100 amid rate cut hopes. MCX July silver contracts rose. Dollar weakened on possible Fed rate cuts after an inflation report. Spot gold in the U.S. markets rose to $2,388.10. Neha Quereshi\’s analysis showed a bullish trend with support and resistance levels.
Energy Mission Machineries Share Price: Energy Mission Machineries debuted on the NSE SME platform with a premium of 165%, opening at Rs 366 compared to the issue price of Rs 138. The IPO received overwhelming investor interest, oversubscribed 320 times.
Q4 results today: 94 companies, including M&M and Vodafone Idea, to announce Q4 results for Jan-Mar 2024. M&M expected to report net profit between Rs 1,777-2,079 crore with revenue at Rs 24,051 crore. Vodafone Idea\’s Q4 net loss to widen between Rs 7,307-7,680 crore with revenue around Rs 10,690.
Go Digit Insurance\’s IPO was subscribed 50% on the second day of the bidding process. Retail portion was oversubscribed at 2.03 times, while non-institutional investors\’ portion reached 0.48 times. Qualified institutional buyers\’ participation awaited. IPO closes on May 17.
M&M Q4 Results: The Board has also recommended a dividend of Rs 21.10 (422%) per share. For the auto segment, the fourth quarter volumes increased to 21.5 lakh, with highest ever utility volumes at 1.26 lakh. The company currently has open bookings of SUVs at 2.2 lakh
Apollo Tyres\’ shares rose by 7% to Rs 508 in Thursday\’s trading session on the BSE, despite the company posting modest financial results for the March quarter of FY24. Although the firm reported a 13.7% year-on-year (YoY) decrease in net profit, amounting to Rs 354 crore compared to Rs 410.3 crore in the same quarter last year, brokerage firms maintained a largely optimistic outlook on the stock.
The much anticipated U.S. consumer price index (CPI) data for April fueled optimism that inflation was easing, prompting traders to raise bets that the Federal Reserve will cut interest rates in September and December.
Oberoi Realty\’s shares surged by 9% to reach a new 52-week high of Rs 1,712.30 following the company\’s announcement of a 65% year-on-year (YoY) increase in its Q4 profit, reaching Rs 788 crore.
Investors are closely monitoring India\’s elections, with low voter turnout and betting market predictions fueling uncertainty. Sensex is down over 1,700 points this month. Analysts assess potential market reactions to different election outcomes, from outright BJP victory to coalition scenarios.
The benchmark index hit a record high on Wednesday, as lesser-than-expected rise in U.S. consumer prices in April boosted bets for a September Federal Reserve rate cut.