US Stock Reports, Quotes and News
IRCON International secured a letter of award (LoA) from the National Highways & Infrastructure Development Corporation (NHIDCL) for the construction of a tunnel in Mizoram valued at Rs 630.66 crore.
The brokerage has reduced its pharmacy target valuation from 25x to 22x, resulting in a lower SoTP by Rs 290 per share. \”Keeping the hospital multiple intact (24x) and rolling over to FY26, our revised target price is Rs 7,300 (from Rs 7,500); we maintain ‘BUY’,\” it said.
PSUs are given a status from Maharatna companies, Navratna companies, and Miniratna companies. Navratna companies can invest up to Rs 1,000 crore without prior government approval.
Shares of SBI Cards and Payment Services dropped 4% to the day’s low of Rs 718 on Monday after the company released its Q4 results on Friday wherein an 11% year-on-year (YoY) rise in profit after tax to Rs 662 crore for the quarter ended March 2024 was reported.
MCX received a letter from Sebi asking the exchange to pay regulatory fees on option basis notional turnover and not premium turnover. The market also instructed the exchange to pay the differential regulatory fee for past periods with an applicable interest of 15% per annum for every delayed month.
IDFC First Bank Q4 Results: IDFC First Bank announced a net profit of Rs 724.35 crore for the quarter ending on March 31, marking a decrease from Rs 802.62 crore reported in the corresponding period last year. In the January-March quarter, IDFC First Bank recorded an interest income of Rs 8,219.21 crore, showing an increase from Rs 6,424.35 crore reported in the same period a year ago. This signifies a 28% rise on a year-on-year basis.
With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.
India\’s second largest private lender ICICI Bank today reported a standalone net profit of Rs 10 707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period.
The report from the Commerce Department on Friday, which also showed strong consumer spending last month, offered some relief to financial markets spooked by worries of stagflation after data on Thursday showed inflation surging and economic growth slowing in the first quarter.
Recent weeks have been dominated by news of strife and armed conflicts. This has led to jitters in foreign flows into Asian equities, impacting India as well. Approximately Rs 25,000 crore has been pulled out by foreign institutional investors from Indian equity markets in April so far.
ESG theme based mutual funds offer attractive returns up to 32% in three years. Investors should consider exploring these funds, regulated by Sebi, for sustainable and responsible investment opportunities with the potential for financial gains.
Bajaj Finserv Q4 Results: Consolidated total income for the March quarter stood at Rs 32,042 crore as against Rs 23,625 crore a year-ago, an upside of 36% YoY.