Experts Financial News

Revenue from operations during the reporting period increased 7% year-on-year to Rs 1,828 crore as against Rs 1702 crore a year ago. EBITDA or operating profit jumped 50% year-on-year to Rs 177 crore in the quarter, while margins improved to 9.7%. The Board has approved an interim dividend of Rs 15.34 per share for the financial year 2023-24. The payout will amount to Rs 309 crore, which will be given out of the profits of the company in FY24. The record date for determining the eligibility of shareholders for the dividend has been fixed as November 20 and the same would be paid on or before December 7. On a sequential basis, net profit rose 6% from Rs 314 crore clocked in the preceding June quarter.

Shares of Au Small Finance Bank Ltd.(up 0.81 per cent), IDFC First Bank Ltd.(up 0.66 per cent), Bank of Baroda(up 0.65 per cent), Bandhan Bank Ltd.(up 0.62 per cent) and HDFC Bank Ltd.(up 0.28 per cent) ended the day as top gainers in the pack. On the other hand, ICICI Bank Ltd.(down 1.3 per cent), Punjab National Bank(down 0.45 per cent), Kotak Mahindra Bank Ltd.(down 0.28 per cent) and Federal Bank Ltd.(down 0.16 per cent) finished as the top losers of the day.

Coinbase said on Tuesday it had added four national security experts to its global advisory council as the cryptocurrency industry comes under intense regulatory scrutiny following the collapse of Sam Bankman-Fried's FTX. Mark Esper, Stephanie Murphy, Frances Townsend and David Urban are joining the council, which advises the company's executive leadership team.

Domestic benchmark index NSE Nifty ended 36.8 points up at 19443.5, while the BSE Sensex closed 33.21 points up at 64975.61. On the other hand, HB Stockholding, North Eastern, Alpa Labs, Dhunseri Petrochem and Concord Biotech Ltd.

EVs) to be used for energy storage in a bid to support the national grid, ET Energy reported, citing a CEA report. The report, prepared with contributions from experts at IIT Bombay, IIT Delhi, and IIT Roorkee, among others, envisions a future where EVs can support the grid by offering services like peak shaving and load balancing. Emphasising the significance of smart charging and vehicle-to-grid (V2G) services, the CEA report said that EVs can be used as flexible loads and decentralised storage resources, providing additional flexibility to support power system operations. «With smart charging, EVs could adapt their charging patterns to flatten peak demand, allow valleys and support real-time balancing of the grid by adjusting their charging levels,» the CEA report stated. According to the report, the parked EVs also have massive potential. The report stated that the parked EVs remain idle for 80–90% of their lifetime and have vast electricity storage capacity. The report said that smart charging infrastructure could facilitate the seamless integration of renewable energy and advocated for supportive regulatory policies for sustainable EV charging systems.

The NSE Nifty index closed 36.8 points up at 19443.5, while BSE Sensex ended up 33.21 points at 64975.61. On the other hand, ICICI Bank Ltd.(down 1.30 per cent), NTPC Ltd.(down 1.02 per cent), Infosys Ltd.(down 0.95 per cent), Tech Mahindra Ltd.(down 0.86 per cent) and Tata Consumer Products Ltd.(down 0.62 per cent) were among the top losers of the day.

Benchmark NSE Nifty closed 36.8 points up at 19443.5 amid buying in frontline bluechip counters. However, stocks such as Fourth Dimension Sol, Winsome Yarns, Compuage Infocom, Sheetal Cool and Atam Valves, touched their fresh 52-week lows.

Rajshree Sugars & Chemicals(up 4.95%) and EID Parry(up 3.06%) stood among the top gainers. Simbhaoli Sugars(down 7.29%), MAGADHSUGAR(down 4.53%), AVADHSUGAR(down 3.27%), Uttam Sugar Mills(down 2.91%), Ugar Sugar Works(down 2.18%), Ponni Sugars(Erode)(down 1.98%), Sakthi Sugars(down 1.80%), DCM Shriram Industries(down 1.65%), K.M.Sugar Mills(down 1.45%) and Kothari Sugars & Chemicals(down 1.19%) were among the top losers of the day.

Jyothy Labs(up 3.76%), Tasty Bite Eatables(up 3.10%), ADF Foods(up 1.87%), Varun Beverages(up 1.78%), Hindustan Foods(up 1.16%), Mrs Bectors Food Specialities(up 1.16%), Patanjali Foods(up 1.15%), Colgate Palmolive(India)(up 0.98%), Hindustan Unilever(up 0.92%) and Zydus Wellness(up 0.79%) stood among the top gainers. Future Consumer(down 5.88%), Bajaj Consumer(down 1.30%), Hatsun Agro Product Ltd(down 1.27%), Nakoda Group(down 0.97%), Dangee Dums(down 0.96%), Prataap Snacks(down 0.79%), Marico(down 0.78%), Heritage Foods(down 0.62%), TATA CONSUMER PRODUCTS(down 0.62%) and Godrej Consumer Products(down 0.57%) were among the top losers of the day.

Question: Can you provide an overview of the Advance tax provisions under the Income-tax Act 1961?

NLC India(up 7.51%), Karma Energy(up 4.93%), Jyoti Structures(up 4.80%), Orient Green Power Company(up 4.70%), CESC(up 4.08%), Adani Power(up 2.50%), Gujarat Industries Power(up 2.36%), Tata Power Company(up 2.06%), NHPC(up 1.99%) and RTNPOWER(up 1.97%) stood among the top gainers. Jaiprakash Power Ventures(down 2.46%), GE Power India Limited(down 1.43%), Reliance Power(down 1.21%), Energy Development Company(down 1.06%), Transformers and Rectifiers(India)(down 1.05%), NTPC(down 1.02%), Inox Wind Energy(down 0.94%), Voltamp Transformers(down 0.74%), Kalpataru Projects International(down 0.68%) and Alstom T&D India(down 0.68%) were among the top losers of the day.

rupee closed little changed on Wednesday, wedged between buoyant local U.S. dollar demand on one side and a retreat in crude oil prices and U.S.

stock market witnessed an impressive rally as several Nifty 200 stocks broke through their 50-day Simple Moving Average (SMA) on November 7. These stocks span various sectors, indicating a positive outlook for the broader market. Let's explore the performance of these stocks.

Tata Power on Wednesday reported a 7% year-on-year (YoY) increase in its consolidated net profit at Rs 876 crore for the six months ended September 2023. It was Rs 819 crore in the same period last year. Revenue from operations in the September quarter jumped 12% to Rs 15,738 crore, compared with Rs 14,031 crore in the year-ago quarter. The company has reported an EBITDA of Rs 3,090 crore in the July-September period, up 76% YoY from Rs 1,759 crore a year ago.

The NSE Nifty index ended the session 36.8 points up at 19443.5, while BSE Sensex rose 33.21 points to 64975.61. In the Nifty index, Bharat Petroleum Corporation Ltd.(up 3.06 per cent), Adani Ports & Special Economic Zone Ltd.(up 2.65 per cent), Asian Paints Ltd.(up 2.04 per cent), Cipla Ltd.(up 2.02 per cent) and Titan Company Ltd.(up 1.27 per cent) stood among the top gainers.

Shares of Ashok Leyland Ltd.(up 2.84 per cent), TVS Motor Company Ltd.(up 2.26 per cent), Balkrishna Industries Ltd.(up 1.62 per cent), Tube Investments of India Ltd.(up 1.39 per cent) and Eicher Motors Ltd.(up 1.17 per cent) ended the day as top gainers in the pack. On the other hand, Bharat Forge Ltd.(down 1.97 per cent), Bosch Ltd.(down 0.56 per cent), Bajaj Auto Ltd.(down 0.39 per cent), Tata Motors Ltd.(down 0.37 per cent) and Sona BLW Precision Forgings Ltd.(down 0.23 per cent) finished as the top losers of the day.

Relative Strength Index (RSI) is a vital indicator. On November 7, Tuesday, StockEdge unveiled a list of over 60 stocks with their RSI trending up.

Rohit Srivastava, Founder, Indiacharts.com, says “there is room for more upside but not a runaway move. 44,800 may be the best case for Bank Nifty, for example, on the upside right now. We are not looking beyond that. That could happen post-Diwali, looking at the way the market is pausing at this level right now.” Given that Nifty is range-bound and Nifty Bank again continues to appear to be weak, how are you looking at both the indices? Where can we find some breakout coming in both these indices? I think above 19,450 is going to be the first hurdle that Nifty is facing. We are pretty close to that and once we get past that, we should head towards 19,700. Even in the Bank Nifty, we are very close to the 40-day average, which is at around 43,680. And above that, we can go towards maybe 43,800 or slightly higher than that also.

Diwali festival, is considered auspicious to buy gold and silver. It also marks the beginning of the biggest wedding season. Buying gold on auspicious occasions is a part of the Indian tradition.

United Spirits Ltd. traded 0.39 per cent up at Rs 1086.45 at 02:05PM (IST) on Wednesday, even as BSE benchmark Sensex gained 124.09 points to 65066.49.

ICICI Lombard General Insurance Company Ltd. dropped 0.97 per cent to Rs 1365.75 at 02:10PM (IST) in Wednesday's trade. The stock hit a high of Rs 1379.8 and low of Rs 1361.0 so far during the session.