Bottomline Financial News

Tata Steel is likely to see robust growth in profitability in the first quarter ended June 2024, but the bottomline may decline. Net profit for the June quarter may increase anywhere between 57-209% year-on-year, according to estimates from five brokerages.

India Inc’s December-quarter earnings reflected a festive boost that was strong but selective. It also hinted that the easy phase of margin-led profit growth may be over.Mint’s analysis of 3,905 companies showed headline revenue rose 10% year-on-year in Q3FY26, the fastest pace in seven quarters.

Anand Ramakrishnan, Managing Director, EQ India

Adani Enterprises, Bajaj Finance, Adani Ports, Tata Motors, BlueDart among others will be in focus due to various news developments and third quarter results. L&T, Adani Enterprises, Adani Ports, Bajaj Finserv Shares of L&T, Adani Enterprises, Adani Ports and Bajaj Finserv will be in focus as the companies will announce their third quarter results later today.

JSW Steel Ltd’s profit slumped 70% on year to Rs 719 crore in the December quarter as weak prices of steel weighed on earnings, even as the steel-maker’s production was at an all-time high during the quarter. The bottomline was also impacted by an exceptional loss of Rs 103 crore.

UltraTech Cement posted a lower-than-expected drop in profit for the December quarter, with the consolidated bottomline of Rs 1,470 crore down 17% on year, as against an expected drop of 20-30%. The country’s largest producer of cement announced earnings during market hours, and its shares surged to end nearly 7% higher at Rs 11,420.90 rupees on the NSE. While shares of Kesoram Industries ended 6.5% higher at 218.63 rupees, those of India Cements, a subsidiary of the company, ended in the red.

Dalmia Bharat’s profit slumped by more than 75% on year in the December quarter as weak prices of the building material and a moderation in demand offset the benefits of lower cost of raw materials, logistics, and power and fuel. The country’s fourth-largest producer of cement by capacity posted a consolidated profit of Rs 66 crore for the October-December period, down from Rs 266 crore a year ago. The bottomline was, though, higher as compared to Rs 49 crore in the September quarter helped by a recovery in prices.

Tata Technologies will report its third quarter later on Tuesday. The company likely had a subdued quarter with flattish revenues and expected decline in the bottomline. JM Financial estimates the revenues to rise by a marginal 0.3% year-on-year (YoY) to Rs 1,301 crore, while another brokerage Kotak Equities sees the same to grow by 0.2% YoY to Rs 1,292 crore.

ProfitMart has a buy call on Aartech Solonics with a target price of Rs 110. The current market price of Aartech Solonics is Rs 66.03. The time period given by the analyst is 12-18 months for Aartech Solonics price to reach the defined target. The company, incorporated in 1982, is a Small Cap company with a market cap of Rs 214.93 crore, operating in Industrial Equipment sector. Aartech Solonics' key products/revenue segments include Electrical Machines and Sale of services for the year ending 31-Mar-2024.

food delivery company Zomato will be in focus after the company's profit in the second quarter missed the Street estimates. The bottomline zoomed nearly 389% YoY in the reporting period to Rs 176 crore from a year ago, but an ET Now Poll was expecting PAT to be around Rs 260 crore.

technical analysis, I often seek stock insights from my technical analyst friends. I like to know which stocks they’re bullish on and then apply my fundamental filters to them. Recently, one of my technical analyst friends expressed strong bullish sentiments about Shriram Properties, going so far as to predict it could become a potential 10-bagger.

Walmart, which owns local ecommerce firm Flipkart, said its international business growth was driven by Flipkart, China, and Walmex, without disclosing specific contributions. The Bentonville-based retailer also said in its second-quarter earnings for FY25 that its advertising business grew 23%, led by Flipkart and Walmex. Walmart recorded nearly $30 billion in net sales from international markets–a growth of 8.3% on year. Walmart also reported an operating income of $1.4 billion for the quarter under review. “Operating income growth led by Flipkart, China, and Walmex…. benefited from lower losses in ecommerce across markets..,” a presentation from the Flipkart owner showed on Thursday.

Vedanta will save Rs 1,000 crore in interest costs each year after utilising the entire proceeds from its recent fund raising to repay debt, chief financial officer Ajay Goel said. In its earnings for the June quarter, the company has seen profit surge by more than 50%, while margins are at a seven-quarter high. «In the current fiscal, we will save around ₹750 crore in interest costs, and after that we will have the benefit of ₹1,000 each year,» Goel told ET. The natural resources major raised ₹8,500 crore through a qualified institutional placement-its first ever- ast month. The fundraising involved several prominent investors such as Abu Dhabi Investment Authority, Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund and ICICI Mutual Fund.

Here's what top brokerages have to say on the biggest IPO of this year:

Titan, Hindustan Zinc and Delhivery. Apart from the above, companies like Britannia, Aeroflex Industries, IDFC, Infibeam Avenues, Ion Exchange, LIC Housing Finance, Lloyds Enterprises, NIIT, Samhi Hotels, Saregama will also declare their June quarter results.

Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja and Bank of Baroda. Apart from the above, companies like Aster DM Healthcare, Barbeque Nation, Deccan Healthcare, Dynamic Cables, IIFL Securities, Mankind Pharma, The Phoenix Mills, Thomas Cook, ZEE among others will also declare their first quarter results.

Parliament security drill, journalists aren't allowed to carry a second pen to the press galleries of the Houses. The bottomline is one pen in pocket is safe, but a second one is a security risk and must be deposited in locker. Asked about the logic, the prompt reply was: «That is the protocol we have been asked to follow.» Going live on law and order Andhra CM N Chandrababu Naidu found an innovative way to drive home the point that the previous YSRCP government targeted TDP cadres. While presenting the white paper on law and order in the assembly, Naidu asked MLAs who faced cases during the YSRCP regime to stand up. Almost all TDP MLAs stood up, making it an impactful visual on live TV.

Budget 2024 proposes to cut the customs duty to 6% on Gold and Silver. Moreover, the finance minister has also proposed to reduce customs duty on platinum to 6.4%.

IIT alumni founded cybersecurity enterprise firm Rubrik, which went public in April, reported its maiden quarterly earnings on Wednesday after the listing. The company reported a 38% year-on-year jump in revenue to $187.3 million for the quarter ended April 30.

cement and financial services businesses, Grasim Industries clocked in a 13% growth in its consolidated revenue for the March quarter, which took it to an all-time high of ₹37,727 crore. While operating profit of the flagship company of the Aditya Birla Group jumped by a little over a fourth to ₹6,196 crore during the quarter, also an all-time high, the net profit remained flat on year at ₹1,370 crore. Adjusted for an exceptional item charge of ₹538 crore, the bottomline rose by two-fifths on year.