Indus Financial News

Top Gainers: NBCC India (up 9.55%), HFCL (up 9.41%), IRCON International (up 8.11%), Jindal Worldwide (up 7.52%), and Home First Finance Company India (up 7.25%)Top Losers: PNC Infratech (down 8.22%), IRB Infrastructure Developers (down 5.72%), Interglobe Aviation (down 4.26%), Narayana Hrudayalaya (down 3.60%), and Avanti Feeds (down 3.53%)Top Gainers: NBCC India (up 9.53%), HFCL (up 9.35%), Railtel Corporation Of India (up 9.13%), Triveni Engineering & Indus (up 8.55%), and IRCON International (up 8.03%)Top Losers: PNC Infratech (down 8.19%), IRB Infrastructure Developers (down 5.76%), Honasa Consumer (down 4.88%), Interglobe Aviation (down 4.32%), and Narayana Hrudayalaya (down 3.87%).Source: Top Gainers, Top LosersMilestone Alert! Livemint tops charts as the fastest growing news website in the world

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Mint.“We’re very bullish on India’s growth story. One of the biggest advancements I have seen is that infrastructure is improving and the economy is growing robust which has led to the emergence of innovative companies, especially in deeptech," Chaturvedi said.Hades—which is sector-agnostic—invests directly in companies and indirectly through fund managers.

Vodafone Idea (Vi) should clear all of Indus Towers' past dues, else the struggling telco won't be allowed to use the tower company's infrastructure for any new services such as 5G, Bharti Airtel chairman Sunil Mittal said. Airtel is the largest stakeholder in Indus Towers, with around 48% stake.

exit polls indicate a clear majority for the BJP-led NDA coalition for the 18th Lok Sabha, analysts from various brokerage houses have identified a range of stocks that stand to benefit from the formation of a Modi 3.0 government. After the 7th phase of elections on Saturday, almost all exit poll surveys showed that the BJP is likely to win the Lok Sabha election on June 4. The average of all major exit polls indicates that the BJP-led NDA will secure 374 seats in this election, while the INDIA alliance may get 137 seats and others may get 30 seats.

exit polls are flashing a clear advantage to the Bharatiya Janata Party (BJP) led NDA faction, top voices on Dalal Street see a continuation of reform policies in Prime Minister Narendra Modi's third term. They expect the government's focus on infrastructure, defence, railways and other sectors to continue. According to the poll-of-polls, the National Democratic Alliance (NDA) is projected to secure over 350 seats out of the 542 contested, spanning seven phases over 48 days.

PB Fintech, Sundaram Finance, NHPC, Phoenix Mills, Indus Towers, Bosch, Jindal Stainless, Solar Industries, Torrent Power, Mankind Pharma, JSW Energy, Canara Bank and Thermax in the MSCI Global Standard Index. Read here: MSCI May 2024 rejig: JSW Energy, Canara Bank among 13 additions; Paytm, Berger Paints among 3 exclusionsPB Fintech is estimated to receive the highest inflow worth approximately $283 million, followed by Sundaram Finance at $243 million, as per data by Nuvama Institutional Equities.Indus Towers, Phoenix Mills and NHPC are expected to see inflows in the range of $216 million - $234 million.On the other hand, the exclusions from the index include Berger Paints, Indraprastha Gas and One 97 Communications, the parent company of fintech giant Paytm.

Empires of the Sea, maritime historian Radhika Seshan attempts the ambitious task of presenting the story of India’s engagement with the sea from the era of the Indus Valley civilisation to the 18th century. Despite consulting a shipload of books, Seshan’s reach far exceeds her grasp. The final product is a book that, while well researched, is poorly organised and is often unable to forge a meaningful connection with the reader.

FPIs) pumped $991 million in April, a Mint analysis showed, betting on the revival of Vodafone Idea Ltd, expected tariff hikes and rising phone usage. FPIs jostled for shares in Vodafone Idea's ₹18,000 crore follow-on public offering (FPO), India's largest, also sparking interest in tower company Indus Towers, which stands to gain from the telco's planned rollout of 4G and 5G networks. Bharti Airtel picked up as well, as investors eye long-awaited tariff hikes later this year.

Indian stock market: On the daily chart, the index has broken down from the rising channel, indicating a rise in bearish sentiment. The trend is likely to remain weak in the near term, with resistance noted at 22,200. As long as the Nifty remains below this level, a strategy of selling on rallies may be favorable for traders.

Indus Towers collected an extra Rs 360 crore from Vodafone Idea (Vi) towards old dues including interest, but its trade receivables increased by Rs 430 crore sequentially in the FY24 March quarter, indicating a Rs 60 crore shortfall in collections from its key client, analysts said. They added that despite part-clearance of old dues, Indus’ trade receivables have risen sequentially to Rs 6,450 crore in Q4FY24 as the actual collection of Vi’s past outstandings happened in April 2024. “The Rs 430 crore increase in Indus’ trade receivables is due to a timing difference and the amount was subsequently collected in April,” Kotak Institutional Equities said in a research note.

Read here: General Elections 2024: Will Nifty extend gains for 4th straight month in May? The broader markets have been consistently hitting new peaks in September, except for some correction in February and March. Even though the benchmark Nifty is also at its record high, the bull run in the mid and small-cap stocks is unparalleled. All three indices hit their new peaks in the previous session, April 30.

Indus Towers posted net profit of ₹1,853 crore for the quarter ended March 2024, up 32.4% from the quarter ended March 2023, where it recorded profits of nearly ₹1,400 crore. The country’s largest telecom tower provider’s revenues rose 6.5% to ₹7,193 crore in the same period, up from ₹6,753 crore the year before. Consolidated earnings before interest, tax, depreciation and amortisation was at ₹4,103 crore, up 19% on-year, representing an operating margin of 57%, the company said in a statement Tuesday.

The tower company’s net profit grew 19% sequentially, from Rs 1,541 crore in the fiscal third quarter ended December 2023. For the fiscal year ended March 31, 2024, the company’s consolidated net profit grew 196% on-year to Rs 6,036 crores.

₹169.09 crore shares, while domestic institutional investors (DIIs) pumped in ₹692.05 crore on April 29, provisional data from the NSE showed. A total of 56 companies will announce their financial results for the fourth quarter of FY24 today, April 30.

earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major earnings of Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, Adani Energy, Adani Power, Ambuja Cements, Adani Wilmar, Adani Enterprises, Coal India, Titan among others. Here's what's on the earnings calendar this week

CLA Global to establish a presence in this market as part of its ambitious global expansion strategy, said G Scott Engelbrecht, chairman of the accounting and auditing network. CLA Global is among the non-Big Four professional services networks, such as RSM, Baker Tilly, HLB, Mazars and Nexia, which, driven by the significant opportunities presented by India's growing economy, are rapidly scaling up their presence in the country. Last year, the network expanded its footprint in India, when the Baker Tilly India Business Advisory and Consulting Services team joined CLA Global as a member firm.

₹18,000-crore follow-on public offer, the largest so far by an Indian company, was oversubscribed more than six times on Monday, the last day of bidding, led by qualified institutional buyers that subscribed 19.3 times the portion reserved for them. The FPO, which is larger than the ₹15,000-crore FPO by Yes Bank in 2020, had opened for anchor investors on 16 April and retail investors on 18 April, closed on Monday.

Indus Towers, India’s largest mobile tower installation company, is likely to benefit if Vodafone Idea completes its fundraising worth ₹45,000 crore and its network expansion, analysts said. The Follow-on Public Offer (FPO) worth ₹18,000 crore of cash-strapped Vodafone Idea opened for subscription on April 18. The telecom operator is said to use the net proceeds from the new issue to finance the acquisition of equipment for the expansion of its network infrastructure, amounting to ₹12,750 crore.

₹18,000 crore from the primary market, which it intends to use for capacity expansion and payments of debt and other dues. Analysts believe Vodafone Idea FPO will also benefit Indus Towers from the telco’s improved financial position and subsequent rollouts, as well as potential reinstatement of dividend. Also Read: Vodafone Idea FPO opens today: Shares rise; GMP, price, other details. Should you apply? IIFL Securities upgraded its rating on Vodafone Idea shares to ‘Add’ with a target price of ₹14 per share and recommended subscribing to the Vodafone Idea FPO.

Indus Towers expects that Vodafone Idea will pay its entire past dues amounting to around Rs 5,700 crore soon with the latter securing funding. However, the payment may happen at one go or in tranches. Asked about Vodafone Idea (VIL) fundraising plans and what it means for Indus Towers, Prachur Sah, Managing Director & CEO, Indus Towers told ET, “We are pleased to see the positive developments on Vodafone Idea’s fundraise and expect that VIL will clear over-dues of Indus in its entirety.” To a query around VIL’s plans to rollout 5G, he added, “We remain committed to supporting all our customers in their growth plans and are best positioned to do the same for VIL.”