India Financial News

Benchmark NSE Nifty index rose 21.16 points to 23624.5 amid buying in frontline bluechip stocks.

add call on Zydus Wellness, with a target price of Rs 2000. The current market price of Zydus Wellness is Rs 1779. Zydus Wellness, incorporated in 1994, is a Mid Cap company with a market cap of Rs 11363.43 crore, operating in FMCG sector. Zydus Wellness' key products/revenue segments include Food Products and Other Operating Revenue for the year ending 31-Mar-2024.

Torrent Pharmaceuticals Ltd.(up 1.67 per cent), Aurobindo Pharma Ltd.(up 1.22 per cent), Abbott India Ltd.(up 0.67 per cent), Glenmark Pharmaceuticals Ltd.(up 0.28 per cent) and Laurus Labs Ltd.(up 0.01 per cent) were among the top gainers.

Swiggy shares continued to fall for the fourth consecutive day on Friday as investors continued to sell the stock after the company's Q3 EBITDA losses were higher than Street estimates. During the day, Swiggy stock fell up to 2.5% to Rs 379.20 on BSE. Macquarie is the biggest bear on the stock right now with the target price going as low as Rs 325. The stock had fallen below its IPO issue price of Rs 390 in the previous session before ending the day with 7% downside. Despite revenue jump of 31% year-on-year (YoY), Swiggy's Q3 loss widened to Rs 799 crore.

Au Small Finance Bank Ltd.(up 0.95 per cent), HDFC Bank Ltd.(up 0.91 per cent), Federal Bank Ltd.(up 0.15 per cent), IndusInd Bank Ltd.(up 0.08 per cent) and Kotak Mahindra Bank Ltd.(up 0.06 per cent) were among the top gainers.

Sunil Koul, Emerging Market Equity Strategist, Goldman Sachs, says gone are those days wherein you saw 30% plus capex spending during the last three-four years and then the capex spending going forward will be more in line with nominal GDP, which is what we have been seeing in the last couple of years, sort of 10-11% in that sense. At a very aggregate level, we would see some outperformance from the consumption cohorts compared to the capex-sensitive sectors. Sectors like infrastructure or very capex-heavy railways, and roads can underperform in the current context. Koul further says that barring IT, a lot of FIIs are still engaged in the consumption story in India and it will still trade at a relatively higher multiple to the rest of the indices and rest of the consumer pack across the market. Somewhere around 30-40 times PE is still relatively okay compared to the broader market trading at 20 times. When are FIIs coming back? Sunil Koul: You want the global sentiment to improve a little bit before FIIs can come back. Today, the market is trading micro as opposed to global macro. So, let the global macro stabilise a little bit.

Aster DM Healthcare and three other companies will be in focus on Friday as February 10, Monday, has been set as the record date to determine shareholder eligibility for dividend payouts. Investors looking to qualify for these dividends must purchase shares by today to ensure settlement under the T+1 settlement cycle.

company plans to raise around Rs 78 crore through its IPO. The company plans to use the net proceeds from the IPO to be used for repayment of debt, working capital requirements and general corporate purposes.

growth in its profitability in the third quarter ended December 2024 even as the annual premium equivalent (APE) is expected to see a decline. Emkay Global estimates a profit growth of 5% YoY to Rs 9908 crore, while APE may witness 19% drop to Rs 10,686 crore.

Hero MotoCorp shares will be in focus on Friday after the company reported a 12% year-on-year rise in standalone net profit for the December quarter, reaching Rs 1,203 crore against Rs 1,073 crore a year ago. The figure surpassed Street estimates of Rs 1,122 crore. Revenue from operations rose 5% to Rs 10,211 crore from Rs 9,723 crore in the same quarter last year, exceeding the ET Now Poll estimate of Rs 10,152 crore. The company said both revenue and profit for the first nine months of FY25 were the highest ever.

stock exchange BSE will be in focus on Friday after it posted impressive third-quarter results, with its net profit jumping 104% year-on-year (YoY) to Rs 220 crore. Revenue from operations also saw a robust 108% YoY growth, reaching Rs 773 crore. Profit before tax and exceptional items more than doubled to Rs 268 crore from Rs 127 crore in the same quarter last year.

Subscribe to enjoy similar stories. Five minutes before she walked on to the court for her first WTA Tour main draw match, Maaya Rajeshwaran Revathi learnt about the change of opponents. Rather than UK’s Yuriko Miyazaki, who pulled out due to illness, she would be playing Iryna Shymanovich of Belarus.

Subscribe to enjoy similar stories. The rupee seems to be on a relatively unrestrained slide. It dropped to a new low of 87.58 against the dollar on Thursday.

Twenty-two states are suing New York state, contending that a new law forcing energy companies to pay $75 billion into a fund to cover climate change damage is unconstitutional

Subscribe to enjoy similar stories. New Delhi: The government may move away from green bonds to fall back on conventional government securities and other debt instruments for green financing in the coming years, as these so-called 'climate' and 'sustainable' bonds have delivered only modest returns, two people aware of the matter told Mint.

Saikat Chakrabarti, the former campaign manager and chief of staff for US representative Alexandria Ocasio-Cortez, has declared that he would challenge long-time Democratic leader Nancy Pelosi for her San Francisco seat, reported The Hill.

Bangladesh's founding father Sheikh Mujibur Rehman and described it as a symbol of heroic resistance of the people of the country against forces of occupation and oppression.

Inbrew Beverages to acquire Imperial Blue, the third-largest whiskey brand in the country, from French drinks giant Pernod Ricard, said people with knowledge of the matter. The move, if it goes through, is aimed at limiting competition. In parallel, at least two special situations funds — Davidson Kempner and Cerberus Capital Management — are also in discussions to provide financing.