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ReNew Energy Global Plc (ReNew) on Wednesday reported a 31 per cent rise in net profit to Rs 493.9 crore (USD 59 million) in the September 2024 quarter pushed by higher income. It posted a net profit of Rs 377.1 crore (USD 45 million) in the July-September period of preceding 2023-24 fiscal, the Nasdaq-listed entity said in a statement. ReNew's total income in the second quarter also rose to Rs 2,988.7 crore (USD 357 million) from Rs 2,863.2 crore (USD 342 million) during the same period last financial year.

SIP contributions reaching a record Rs 25,000 crore. There is a growing influence of domestic investors in our market,” says Manish Jain, Managing Director, Bajaj Broking. In an interview with ETMarkets, Jain said: “With India's economic growth remaining robust at around 7% annually, this pullback presents an opportunity for investors to strengthen their portfolios.” Edited excerpts:

Dynamic Midcap Strategy, we follow the GSM investment philosophy. ‘G’ stands for growth, ‘S’ stands for strategic value and ‘M’ stands for margin expansion,” says Mohit Khanna, Fund Manager at Purnartha. In an interview with ETMarkets, Khanna said: “In the Multi-asset, Purnartha One Strategy, we optimize risk by actively managing the asset allocation using a VMS framework – ‘V’ stands for valuations, ‘M’ stands for macro outlook and ‘S’ stands for sentiments.” Edited excerpts:

Indrajit Agarwal, Senior Research Analyst, CLSA, says there are three or four levers of cost savings. One is higher renewable power usage, second is lower lead distances, third is improving the mix of cement, etc. All those things will lead to profitability improvement. In an environment where the top few players are focusing on both cost savings and market share gain, pricing would be very difficult to come by and that is where larger cement players with better volume growth visibility and cost saving outlook are likely to fare much better than the smaller or regional players. What have been your key takeaways for materials as a sector? Indrajit Agarwal: If you look at the sector, what has happened in the past few years and also year to date, we have been in the midst of a structural upcycle driven by all the levers, be it infrastructure, housing, property market, whatever you call it. However, the last six months effectively has been a perfect storm. We have had a confluence of three events which has led to a significant weakness in the demand environment.

HDFC Securities has a buy call on Ashoka Buildcon with a target price of Rs 302. The current market price of Ashoka Buildcon is Rs 237.85. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 6663.25 crore, operating in the infrastructure sector. Ashoka Buildcon's key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2023.

If you’ve been following the news, you’ve probably heard that investment banking revenues are back. You might even be expecting a bigger bonus as a result. Unfortunately, you may be wrong.

demand and fading margin tailwinds. Earnings were downgraded by 3% for FY25, reflecting broader market struggles. The corporate earnings outlook for H2FY25 hinges on government spending and rural demand recovery, but sustaining growth will require stronger sectoral performance, Nuvama Research noted. A 2% cut in Nifty's FY25 EPS estimate to Rs 1,057 further underscored the challenges, the brokerage said.

Elcid Investments, which became an overnight sensation on D-Street after its stock price surged 66,92,535% in a single session on October 29, 2024, has corrected by 19% in the last six trading sessions. After hitting a peak of Rs 3,30,473.35 on the BSE on November 8, the stock has been on a downhill. On Tuesday, it settled at Rs 2,68,336.80.

Indian Hotels Company jumped 3% on the BSE on Tuesday to hit their 52-week high of Rs 760.75 after the Tata Group company unveiled its 'Accelerate 2030 strategy' where it said that the company aims to increase its portfolio in the country by 700 hotels. The IHCL's Accelerate 2030 Strategy also aims to double consolidated revenue to Rs 15,000 crore by expanding the portfolio to 700+ hotels and maintaining industry-leading margins.

work-from-home measures and the odd-even scheme will be taken soon to tackle the city's worsening air quality, Delhi Environment Minister Gopal Rai said on Tuesday. Speaking to PTI, Delhi Environment Minister Gopal Rai said, «People, including children and senior citizens, are struggling to breathe and we deeply regret this situation.» The air quality in the national capital has remained in the «severe plus» category since Sunday, with AQI readings consistently above 450. On the possibility of implementing work-from-home measures, Rai stated, «We will take a decision on this soon.»

Ambuja Cements Ltd. traded 0.89 per cent in Tuesday's trade at 12:23PM (IST). Around 30,746 shares changed hands on the counter. The scrip opened at Rs 550.05 and touched an intraday high and low of Rs 560.00 and Rs 550.05, respectively, in the session so far. Shares of the company of Ambuja Cements Ltd. quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 408.60.

MphasiS Ltd. 2.62 per cent to Rs 2831.25 at 10:41AM (IST) in Tuesday's trade. The stock has hit a high of Rs 2844.00 and low of Rs 2755.00 so far during the session. The stock had closed at Rs 2758.80 in the previous session. The counter has had a total traded volume of 3112 shares so far with a value of Rs 0.88 crore on the NSE. It traded at a price-to-earnings multiple of 33.58 and a price-to-book ratio of 5.13.

The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute the stake in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank, the source said.

On the BSE, Bhartia Bachat(down 10.77 per cent), Maximus Intl.(down 9.99 per cent), Medico Remedies(down 9.99 per cent), Stellar Capital Svcs(down 9.75 per cent) and Honasa Consumer(down 9.73 per cent) were among the stocks that plunged over 5 per cent during the session.

REC Ltd. traded 3.77 per cent up at Rs 520.00 at around 10:19AM (IST) on Tuesday. The stock had closed at Rs 501.10 in the previous session. Equity benchmark Sensex traded 761.46 points at 78100.47 around the same time.

Stocks that rallied over 10% included, Laffans Petro(14.13%), Multibase India(13.44%), Indag Rubber(11.75%), Udayshivakumar Infra(11.72%), Atam Valves(11.52%), PG Electroplast(10.82%), Darshan Orna(10.32%) and Keerthi Ind(10.22%).

Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close.

Trump’s planned administration. Benchmark indexes advanced in Japan, South Korea and Australia, while futures climbed in Hong Kong. The Nasdaq 100 outperformed Monday after its longest rout since January, with Tesla Inc. rising 5.6% on a news report Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Nvidia Corp., which reports results this week, fell.

city gas distributors Indraprastha Gas (IGL) and Mahanagar Gas (MGL) were among the top losers in Monday's trading after the government cut their gas allocations under the cheaper APM (administered price mechanism) over the weekend. The move triggered a spate of rating downgrades by analysts, who are mostly advising investors to sell the stocks for now. IGL plunged 19.8% to ₹325, its lowest closing since March 2020. MGL tumbled 13.8% to ₹1,130.55, the lowest closing since June 2023. Gujarat Gas, which already derives most of its supplies at market rate, fell 6.8% to ₹452.5 on Monday.

Honasa Consumer, parent of personal care brand Mamaearth, plunged 20% — the lowest trading limit of the day — after the company posted losses in its second-quarter earnings. The stock closed at ₹297.25, below its initial public offering (IPO) price of ₹324. The company was listed last November. Concerns over a likely decline in sales in its flagship brand, Mamaearth and earlier expectations of strong earnings growth have made investors sceptical about the stock's prospects.

Waaree Energies, Ashoka Buildcon, Shilpa Medicare, Tilaknagar Industries among others will be in focus due to various news developments. Waaree Energies Waaree Energies, which recently made a stellar debut at the bourses, reported its first earnings post listing, where the solar PV maker clocked 15% growth in its second quarter net profit at Rs 362 crore.