US Stock Reports, Quotes and News
IT stocks presented a muted show as investors turn cautious ahead of key US data that will determine future interest rate trends. Sensex dipped 118 points to settle at 72,987. Nifty shed 17 points to end at 22,200.
Electronic manufacturing service provider, Dixon Technologies on Wednesday announced a 20% year-on-year (YoY) rise in PAT at Rs 97 crore for the fourth quarter of FY24 while the revenues stood at Rs 4,675 crore, surging 52% YoY.
MakeMyTrip reported a revenue of $ 782.5 million for financial 2024, up from $ 593 million in fiscal year 2023. The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023.
Aadhar Housing Finance debuts on BSE at Rs 314.3 post a successful IPO. Leading in low-income housing finance, it has highest AUM, faces market volatility challenges, and raised funds for future lending needs through fresh equity issue and OFS post DHFL Vysya merger.
SBI PSU Fund Reg(G), a top performer in equity mutual funds, bolstered its portfolio by adding Indian Energy Exchange (IEX) shares and increasing stakes in Bank of India, LIC, NALCO, and SAIL.
Europe\’s benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print.
Mahesh Nandurkar, MD at Jefferies, discusses investment opportunities in sectors like real estate and the auto sector. He emphasizes the potential for earnings growth and the impact of global economic factors on India\’s market prospects. Nadurkar says: \”I would not necessarily link the FMCG stocks going up to the big improvement in the rural demand recovery as such.\”
ICRA\’s Kinjal Shah discusses the stable cost environment in the aviation industry with a 14% YoY decline in fuel prices, leading to a decline in net loss. She highlights growth opportunities in the domestic aviation industry and the significance of international operations for carriers. Further Shah says: \”We would see two years of 8% to 13% growth for the aviation passenger traffic in the domestic sector.\”
Sanjiv Bhasin discusses the US-China relationship and the impact of tariffs on imports, highlighting potential cost benefits for India due to lower reliance on China. He also mentions the positive market trends and opportunities for investors. Bhasin says: \”If you want to get new entrants, Engineers and Ircon are two stocks which we think can double and still look cheap.\”
Ajay Srivastava, CEO of Dimensions Corporate, advises investing in ABB, Siemens, IndiGo, Indian Hotels, and Hero Moto if the market falls 30-40%. These companies, known for their performance and economic ties, are recommended. Furthermore, smaller IT firms linked to the BFSI sector show promise. The defense sector, shipyards, QSR companies, multiplex companies, and consumer companies are currently underperforming.
Nifty traded in the red on Wednesday breaking its two-session winning momentum in the morning trade led by selling pressure in bank and auto stocks. Around 12 pm today, the 50-stock index was trading at 22,186.25, down by 31.60 points or 0.14%.
A circular issued by NSE stated that trading in securities of Brightcom Group will remain suspended until the company complies with the above regulation. After 15 days of suspension, trading in the securities of non-compliant companies would be allowed on a trade-for-trade basis in the Z category on the first trading day of every week for six months.