News

Shares of Larsen & Toubro (also known as L&T) had a weak opening on October 25. It fell 2 per cent to Rs 3,378 after UBS downgraded the stock to 'neutral' and cut its target price in view of several challenges in the upcoming quarters.The brokerage has highlighted an upside potential of 16 per cent from the last closing price of Rs 3,443 with a target price of Rs 4,000. The previous target price given by the brokerage was Rs 4,400. L&T shares have declined 11 per cent in the last month.The international broking firm suggests that although core earnings remain supportive, it anticipates that there could be a slowdown in new order growth, which the market typically gives more importance to than core earnings for L&T.The firm's analysts believe that managing returns and cash ...

New Delhi, Oct 24 (PTI) Crude oil prices on Thursday rose by Rs 68 to Rs 6,044 per barrel in futures trade as participants widened their bets following strong spot demand.On the Multi Commodity Exchange, crude oil for November delivery expansion by Rs 68, or 1.14 per cent, to Rs 6,044 per barrel in a business turnover of 13,571 lots.Analysts said crude oil prices rose in futures trade as participants increased their deals.Globally, West Texas Intermediate crude price in New York was trading at $71.79 per barrel, down 1.44 per cent, while Brent crude price was at $75.92 per barrel, down 1.28 per cent.

Shares of public sector company NMDC or National Mineral Development Corporation witnessed a surge on October 23 after the company announced a hike in the price of its lump ore and fines, which was the second price hike by the company in October.NMDC has raised the price of lump ore by Rs 600 to Rs 6,350 per tonne, while that of fines by Rs 400 to Rs 5,410 per tonne, the company said in a regulatory filing on October 22.These latest hikes have pushed NMDC's lump ore and fines prices to their highest since May. Interestingly, NMDC's price adjustments come at a time when global iron ore prices are on a downward trend. The commodity has declined 11 per cent, currently trading at SG$101, down from a recent high of SG$114 hit on October 8.Earlier in October, NMDC had increased the price of lum...

The price of onion in retail markets is currently between Rs 60-80 per kg and is expected to remain high till Diwali. The surge in onion prices is mainly due to heavy rains in major onion producing states like Maharashtra, Karnataka, Telangana and Andhra Pradesh, which have damaged crops and disrupted supplies.As a result, prices of onions, tomatoes and edible oils contributed to September inflation reaching a nine-month high, and food inflation is expected to remain elevated in October, according to a report by The Economic Times.Onion prices at Lasalgaon wholesale market in Nashik have been fluctuating between Rs 45-50 per kg for over a month now. The government had expected prices to drop with the harvesting of the kharif crop, which is underway in several southern states. However, the...

Shares of Ola Electric Mobility made a strong debut on the stock market and rose 4 per cent to Rs 85.3 on October 22. This after the company announced that it has resolved about 99.1 percent of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA).In a document filed with the stock exchange, the company highlighted its robust complaint redressal system, with CFO Harish Abichandani saying, "10,644 complaints received from CCPA were resolved to the complete satisfaction of the customers."The announcement comes just ahead of the CCPA's October 22 deadline. On October 7, the agency issued a show-cause notice to the Bhavish Aggarwal-led company, seeking clarifications on its handling of thousands of consumer complaints, and gave it 15 days to respond.India's lead...

France-based car parts supplier Forvia said on Monday it had struck new deals with BYD and Xiaomi, sending its shares up 10%, Reuters reported.Forvia hopes its new contracts with Chinese manufacturers will help it meet waning auto demand from domestic manufacturers, Newswire reported. It has also struck deals with Chinese auto makers Li Auto and Chery, Newswire reported."Xiaomi is now one of the major telcos entering the EV and car market, and it's great that we are able to expand our reach to Chinese manufacturers with the latest products," Forvia's finance chief Olivier Durand said at an investor conference.The company said it expects to outperform automotive production in China in 2025, following a drop in sales in the third quarter, the newswire said. AlphaValue analyst Adrian Brassi ...

Kotak Mahindra Bank is scheduled to announce its second quarter results on Saturday (October 19). Analysts expect key financial parameters to grow compared to last year.They expect the bank's net interest income (NII) to reach ₹6,996.9 crore, representing a growth of 11.1% from ₹6,296.6 crore.Profit after tax (PAT) is estimated at ₹3,513 crore, showing a growth of 10.1% from ₹3,191 crore.Investors will be watching key areas closely during this earnings announcement.The focus will be on business momentum, particularly with respect to deposit and loan growth rates. Movements in net interest margin (NIM) will serve as a key indicator of profitability.Additionally, growth in low-cost deposits will be key to maintaining margins.Asset quality metrics, including slippages, will also be examined ...

On Thursday (October 17), Tata Chemicals Ltd announced a 46.1% year-on-year (YoY) decline in net profit to ₹267 crore for the second quarter ended September 30, 2024.According to regulatory filings, Tata Chemicals reported a net profit of ₹495 crore in the previous fiscal quarter. The company's revenue from operations remained stable at ₹3,999 crore compared to ₹3,998 crore in the previous fiscal year.EBITDA in the second quarter of this fiscal declined by 24.5% to ₹618 crore from ₹819 crore in the same period last year.In the reporting quarter, the EBITDA margin was 15.5%, lower than 20.5% in the same period last fiscal. EBITDA is earnings before interest, tax, depreciation and amortization.Tata Chemicals operates India's third largest soda ash manufacturing plant. Kapilram Vakil (grands...

Infosys Q2 Earnings: PhillipCapital expects Infosys net profit to rise 10.2 per cent to Rs 6,844.40 crore over the previous fiscal, while sales will grow 4.8 per cent to Rs 40,867 crore over the previous fiscal.Infosys Ltd may report a 10-15 per cent year-on-year growth in net profit in the September quarter on a 5 per cent rise in sales. In-Tech acquisitions will aid growth. Revenue in constant currency terms is expected to outperform Tier 1 peers on a sequential basis. The Salil Parekh-led IT major may also raise its revenue guidance for the fiscal year, even as it may retain its margin guidance. Margins for the quarter may expand, but marginally.All eyes will be on interim dividend, commentary on FY25 demand environment, especially discretionary spending. Deal TCV and pipeline, margin ...

South Indian Bank shares on Wednesday rose 5.42% to Rs 25.25 on BSE as against its last close of Rs 23.95.South Indian Bank shares rallied 5% in the afternoon session today, as the bank announced its second quarter earnings. Net profit rose 18% to Rs 325 crore in the quarter as against Rs 275 crore in the same quarter last fiscal. Total income rose to Rs 2,804 crore in the second quarter as against Rs 2,485 crore in the same period last year. The bank earned interest income of Rs 2,355 crore during the quarter, as against Rs 2,129 crore in the same period a year ago.Net interest income in Q2 increased to Rs 2355 crore as compared to Rs 2129 crore in Q2 FY24.South Indian Bank shares rose 5.42% to Rs 25.25 on BSE on Wednesday as against the previous close of Rs 23.95. The banking stock hit ...