Experts Financial News

DLF on Monday rallied 8% to an intraday high of Rs 839.55 on the BSE after reporting a consolidated net profit of Rs 1,381 crore for the quarter ended September 30, 2024, versus Rs 623 crore posted in the year-ago period. This was a 122% jump on an year-on-year basis.

Ravi Dharamshi, who backed Waaree Energies when hardly anyone else was talking about it, have made multifold returns on the solar energy stock, which got listed on the stock exchanges today. Madhu Kela's wife, Madhuri, owned 33,41,700 shares, or 1.27% equity in Waaree Energies. Disclosures made by the company in its red herring prospectus (RHP) show that Kela participated in a private placement in June 2023 and purchased 7.25 lakh shares at Rs 550 per share.

Wayanad Lok Sabha seat and two Assembly segments in Kerala. The Catholic Church, whose followers have significant influence in the Wayanad Lok Sabha seat where Congress general secretary Priyanka Gandhi is trying her electoral luck, has backed the Bill brought by the BJP-led government at the Centre, opposing the provisions in the existing law. The Church alleged that numerous properties belonging to Christian families for generations in the villages of Cherai and Munambam in the Ernakulam district have been unlawfully claimed by the Waqf Board. On Monday, the Syro-Malabar Catholic Church-backed 'Deepika' daily published an editorial, criticising the Congress-led UDF and the CPI(M)-led LDF, accusing them of passing a unanimous resolution in the state Assembly «to protect the Waqf law without seeing the tears of the affected people.»

Hindustan Zinc Ltd plans to pare its debt by a third by the end of this financial year bolstered by additional cash flows after a likely relatively robust performance in the October to March period. The country’s largest producer of zinc, lead and silver expects to reduce its debt to about Rs 2,000 crore by March-end from about Rs 6,000 crore at the end of the September quarter, chief financial officer Sandeep Modi told analysts after the company’s quarterly earnings. “…we have already generated free cash flow of Rs7,000 crore in H1, and normally H2 remains better. So, I think it's only a timing difference,” he said.

DMK has said that actor-politician Vijay helmed Tamizhaga Vetri Kazhagam copied its ideology while main opposition AIADMK said TVK's principles are a cocktail of current political standpoints of various parties and Naam Tamizhar Katchi has ruled out chances of joining forces with the new entrant. While Vijay openly targeted the DMK and its first family in his debut public appearance for his party's inaugural event on Sunday, DMK said it has seen many rivals in its long innings and will continue to be strong. Asked on TVK's ideological points, its hint at opposition to the office of Governor, DMK leader TKS Elangovan said, «these are all our policies, he is copying...whatever he says is what we had already said and which we are following.» On the maiden conference of Vijay's party, he told PTI Videos: «This is the first conference and let us see, we have seen many parties.» Outlining his party's strong ideological moorings and work over a long period of time in its 75-year old journey, Elangovan said DMK leaders went to jail fighting for people's cause and though the party had lost several elections, it continued to be strong.

Kunal Kamra took to X (formerly Twitter) to express his frustration over the poor condition of Ola Electric scooters and urged Union Minister Nitin Gadkari to intervene. In his post, Kamra highlighted the plight of Indian customers, criticising the lack of accountability from Ola. He emphasised how customers are struggling to commute and are being forced to take bad loans due to issues that, according to him, are the company’s responsibility. His post was triggered by a complaint from Rangraj Nagar in Solapur, where several Ola scooters were reportedly found in poor condition. The user expressed outrage over the absence of qualified engineers or technicians at the site, stating that such negligence is unacceptable given that customers have invested their hard-earned money into these products. Tagging prominent figures including Ola Electric’s CEO Bhavish Aggarwal, Prime Minister Narendra Modi, and Minister Gadkari, Kamra's post urged government agencies to intervene and address the grievances.

CAG is set to conclude in November, and a high-ranking official with close ties to the Modi administration is likely to be chosen to oversee the Centre's financial oversight. While Murmu's position requires a new appointee, three other pivotal roles — the Reserve Bank of India (RBI) Governor, Chief Economic Adviser (CEA), and Securities and Exchange Board of India (SEBI) Chairperson — offer the possibility of reappointment. Following Murmu’s tenure, attention will shift to the RBI’s leadership. Shaktikanta Das, who became RBI Governor in December 2018 after the sudden resignation of Urjit Patel, is nearing the end of his second term. Das, a former bureaucrat known for maintaining strong government relations and navigating India’s financial landscape smoothly, may either continue in this role or pass the mantle, with a decision expected in December.

Air Quality Index (AQI) for Noida plummeted to 304, down from 169 the previous day. Greater Noida reported an AQI of 312, while Ghaziabad recorded an even higher AQI of 324.

Ambuja Cements on Monday reported a standalone net profit of Rs 501 crore in the second quarter ended September 2024, which is a fall of 22% year-on-year (YoY) from Rs 644 crore reported in the previous year quarter. Revenue from operations, meanwhile, increased 6% YoY to Rs 4,213 crore in the July-September 2024 period, compared with Rs 3,970 crore in the last year period.

Tatkal tickets on the day before the train's departure from the originating station. The booking window opens at 10 am for AC classes (2A/3A/CC/EC/3E) and 11 am for non-AC coaches (SL/FC/2S). For example, if you want to book a Tatkal ticket for a train departing on November 1, you can book it on October 30 at the specified times. Now imagine you need to book Tatkal train tickets for a family of five. This could cost thousands of rupees. Additionally, if you specify a particular berth, such as a lower berth, and it's not available, your money will be blocked for four to five days before being automatically refunded. The main concern is not the refund itself, but the time it takes to receive it. To save both time and money when booking Tatkal tickets, consider using the autopay option where you can use UPI (OTM)/debit card (OTM)/credit card (OTM) to pay for the tickets using a mandate. These autopay options are available on the IRCTC iPay payment gateway.

Diwali, also called Deepavali is the Hindu festival of lights, with variations celebrated in other Indian religions. It symbolises the spiritual «victory of light over darkness, good over evil, and knowledge over ignorance» The celebrations generally last five or six days. During the festival, the celebrants illuminate their homes, temples and workspaces with diyas (oil lamps), candles and lanterns.

Slice on Monday said it had completed its merger with North East Small Finance Bank (NESFB) with effect from October 27 after receiving all requisite shareholder and regulatory approvals. The merger will unify the operations, assets and brand identities of the two companies into a single banking entity, it said. The fintech unicorn said in a statement that the integration will pave the way for the creation of a technology-driven bank along with a strengthened financial position focused on expanding operations, enhancing risk management frameworks and improving customer experience.

Aries Agro Ltd.(up 8.38%), Bohra Industries Ltd.(up 4.90%), National Fertilizers Ltd.(up 4.22%), The Fertilisers and Chemicals Travancore Ltd.(up 3.91%), Madras Fertilizers Ltd.(up 3.20%), Paradeep Phosphates Ltd.(up 3.18%), Rashtriya Chemicals & Fertilizers Ltd.(up 3.15%), Nagarjuna Fertilizers and Chemicals Ltd.(up 3.09%), Khaitan Chemicals & Fertilizers Ltd.(up 2.95%) and Sikko Industries Ltd.(up 2.77%) were among the top gainers.

Laurus Labs Ltd.(up 3.83 per cent), Biocon Ltd.(up 2.54 per cent), Natco Pharma Ltd.(up 1.98 per cent), Granules India Ltd.(up 1.86 per cent) and Glenmark Pharmaceuticals Ltd.(up 1.76 per cent) were among the top gainers.

Coal India today fell by 5.6% to day’s low of Rs 435.20 on the BSE after reporting a 22% fall in its September quarter consolidated net profit for the quarter ended September 30, 2024 at Rs 6,289. The same stood at Rs 8,049 crore in the year ago period.

Waaree Energies dropped nearly 10% to Rs 2,294.5 on the BSE after their strong debut on the exchanges on Monday. The stock debuted at Rs 2,550 on the BSE, reflecting a premium of Rs 1,047 or 69.7% over the IPO price of Rs 1503. «Waaree Energies Limited made a strong listing, reflecting investor confidence in the company's growth potential and financial stability. Investors may consider booking part profit here, and those who want to hold it for the long term may keep a stoploss of 2000,» said Shivani Nyati, Head of Wealth at Swastika Investmart.

Tata Elxsi Ltd. 1.94 per cent to Rs 7128.35 at 11:23AM (IST) in Monday's trade. The stock has hit a high of Rs 7399.95 and low of Rs 7006.95 so far during the session. The stock had closed at Rs 6992.25 in the previous session. The counter has had a total traded volume of 8469 shares so far with a value of Rs 6.00 crore on the NSE. It traded at a price-to-earnings multiple of 54.12 and a price-to-book ratio of 19.34.

₹4,321.44 crore, received bids for 1,60,91,70,633 shares against the 2,10,79,384 shares that were available, according to data from the BSE.The segment allocated for Qualified Institutional Buyers (QIBs) saw an impressive 208.63 times subscription. Non-institutional investors subscribed 62.49 times, while Retail Individual Investors (RIIs) achieved a subscription rate of 10.79 times.This initial offering recorded one of the highest numbers of applications, totalling ₹97.34 lakh.

reverse repo operations facility and would use it to trade with primary dealers in open market operations on a monthly basis. The bank took the decision to maintain a «reasonable abundance of liquidity in the banking system and further enrich the central bank's monetary policy toolbox,» it said in a statement.

Nobel Peace Prize laureate Narges Mohammadi to be hospitalized after almost nine weeks of feeling sick, a group campaigning for the activist said Sunday. The Free Narges Coalition said in a statement that Mohammadi must be granted a medical furlough to receive comprehensive treatment for multiple conditions. It said that just transferring her to the hospital will not address the severe health issues caused by months of neglect and deprivation. Mohammadi is being held at Iran's notorious Evin Prison, which houses political prisoners and those with Western ties. She already had been serving a 30-month sentence, to which 15 more months were added in January.

Yes Bank shares are expected to remain in focus as the private lender reported a 145% jump in its September quarter standalone net profit at Rs 553 crore versus Rs 225.21 crore reported by it in the year ago period. The interest earned by the lender during the quarter stood at Rs 7,730 crore which was up 15% over Rs 6,711 crore reported in the corresponding quarter of the previous financial year.