Performer Financial News

Hindustan Unilever (HUL). The company's stock has declined over 3 percent this year so far against a gain of 15 percent in the benchmark Nifty FMCG index. The stock declined 1 percent in the last 1 year compared to the Nifty FMCG index rising over 16 percent during the period.

Elon Musk that never happened; public haranguings, such as lawsuits filed by dozens of American states on October 24th, alleging that Meta intentionally sought to make users addicted to Facebook and Instagram. And yet, in the space of a few months late last year, he made two transformative business decisions that were remarkable for their humility and agility—all the more so, given that he controls 58% of the firm’s overall voting rights and barely needs to work, let alone listen to shareholders. In response to investor pressure, Mr Zuckerberg performed one of the fastest pivots in tech history.

Canara Bank shares exhibited an upward trend for the second straight day, surging by almost 8% to record a new 52-week high of ₹387.80 apiece. At 1:30 PM, the stock was trading with a gain of 6.52% at ₹382.75. This strong uptick in the shares was in response to the bank's impressive September quarter numbers, which were released on Thursday after market hours.

₹1,929 crore for the second quarter of FY24, registering a growth of 24% from ₹1,557 crore in the corresponding quarter of last fiscal. The company’s consolidated revenue in Q2FY24 increased 25.1% to ₹26,023 crore from ₹20,803 crore, YoY. “Against the backdrop of upbeat macro-economic conditions during the quarter.

Shriram Finance, a non-banking financial company (NBFC), experienced a notable 12.9% surge in its stock price, hitting a new all-time high ₹2,029.7 per share during Friday's trading session, propelled by its impressive Q2FY24 performance. In its quarterly report released on Thursday, the NBFC reported a consolidated net profit of ₹1,792 crore, marking a 13% increase compared to ₹1,578.56 crore in Q2 FY23.

Pakistan likely to sack Babar Azam as captain, report says: Here's who could replace him The Men in Green currently sit 6th in the World Cup points table with a net run rate of -0.400 and will now have to rely on the results of other teams as in addition to winning all their remaining World Cup matches. Babar Azam has struggled both as an individual and a captain, with the world's number one ODI batsman looking a shadow of his former self at the marquee event, while other players, with the exception of Mohammed Rizwan and probably Abdullah Shafique, have also struggled to find their feet in the tournament.

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HTX, the crypto exchange formerly known as Huobi Global and owned by Chinese blockchain personality Justin Sun, has announced a profit of $98 million for the third quarter of 2023.

Before investing in a mutual fund scheme, it is seen imperative to weigh a number of factors beforehand such as the category of fund, macroeconomic factors, reputation of fund manager, and importantly – the past returns delivered by the scheme.

Zerodha Fund House on Wednesday (October 25) announced the launch of its maiden funds – Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, open-ended, passive, index equity mutual fund schemes. The NFO opened on 20th October 2023 and will remain open till 3rd November 2023. 

We considered all equity hybrid categories such as aggressive hybrid, balanced advantage or dynamic asset allocation fund, arbitrage fund, equity savings. No arbitrage scheme managed to beat its benchmark in 2023.

Arti Mohan, Cherrapunji, Meghalaya A total market index is a stock market index that typically tracks the performance of publicly traded companies from different market segments including largecap, midcap and smallcap. Total market indices are designed to provide a broad representation of the overall stock market, and they are often used as benchmarks for investment performance. A total market index fund is a type of mutual fund or exchange-traded fund (ETF) that tracks a total market index.

Colgate-Palmolive India, and HSBC recommended a buy on Shriram Finance and Asian Paints. Meanwhile, UBS recommended a buy on ACC. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Colgate Palmolive India: Buy| Target Rs 2320 Jefferies maintained a buy rating on Colgate Palmolive India and raised the target to Rs 2320 from Rs 2180 earlier. The company reported flat volume growth, but pricing power led to earning growth.

Since the Nifty and the Sensex moved up around 20%, there should be a 10% kind of give up because I do not see it going more than that. Now we are maybe 300-400 points away from that in terms of the Nifty, so that is what should be the worst case. I do not see it going below that, says Sandip Sabharwal, asksandipsabharwal.com Are we just aligning ourselves with the rest of the globe given the outperformance we have had in the past? Yes, reasons for the corrections come later, but the view was that there should be some sort of correction after the euphoric up move, especially in the small and midcap side because when that kind of euphoria comes in and the kind of crazy valuation which IPOs were getting or are still getting, that is not good for the market so that is the phenomenon which is playing out. That said, my view was that since the Nifty and the Sensex moved up around 20%, there should be a 10% kind of give up because I do not see it going more than that.

FinEdge. “If a particular sector has witnessed a significant upswing, one will need to understand the near to medium term prospects of the sector before considering further allocations," says Girish Lathkar, Partner and Co-founder, Upwisery Private Wealth. A thorough research and understanding the stages of growth of the sector against the backdrop of the overall cycle is important. An investor has the choice to keep investing across cycles or alternatively an investor can consider playing contrarian by moving to sectors which are depressed but have better prospects in the medium term and wait out.

Employees’ Provident Fund Organisation (EPFO), the world’s largest social security organization boasting more than 277 million accounts and a fund corpus of approximately ₹20 lakh crore, have expressed their concern about being under “extreme pressure" as reported onHindustan Times. This pressure stems from the recent reversion to manual annual account updates by the EPFO, while they are held accountable for any delays in claim settlements beyond the stipulated 20-day timeframe.

Unilever said it will cut product prices in India in a few categories, such as soaps and laundry, to pass on the benefits of lower commodity prices, boost volumes and compete with local entrants. The maker of Lux soap and Surf Excel detergent also said the Indian market is seeing a gradual recovery, led by urban areas, but the rural market has remained subdued. «I don't expect that we will have deflation other than in a couple of areas,» Unilever CFO said. «It (deflation) is possible in India because a couple of our categories — fabric cleaning and skin cleansing — are very heavily correlated to the underlying commodity prices and (have seen) local competition re-enter the market.

The Young the Restless, actor Christian LeBlanc has revealed it was a cancer diagnosis that kept him away from the ever-popular soap opera set.During an interview with CBS affiliate 4WWL in New Orleans, the 65-year-old TV star said he was in June diagnosed with multiple myeloma, a common form of blood cancer that develops from a buildup of abnormal plasma cells in bone marrow.“It’s a common cancer but a very fast-moving one,” LeBlanc said. “I’d never spent a day in hospital in my 65 years, until this year.”LeBlanc, who said his cancer is now in remission, first stepped into the shoes of Michael Baldwin on The Young and the Restless in 1991.

Vodafone Idea's net loss for the fiscal second quarter widened sequentially to ₹8,737.9 crore from ₹7840 crore, as the cash-strapped telco provisioned for higher taxes following a recent top court ruling, and interest costs continued to weigh. Vodafone Idea, a joint venture between UK's Vodafone Group Plc and India's Aditya Birla Group (ABG), saw average revenue per user (ARPU), a key performance metric, rise over 2% on-quarter to ₹142, as it added more 4G users. But the telco kept losing subscribers overall to end the period with 219.8 million. In a statement, the telco said, «With improving operations, we have seen the lowest quarterly subscriber decline of 1.6 million since merger.» Quarterly revenue was flat sequentially at ₹10,716.3 crore as compared with ₹10, 655.5 crore in the April-June quarter. «We are pleased to report another quarter of consecutive revenue growth, improvement in ARPU and 4G subscriber additions.

Indian IT firms could halve from a year ago as the $245-billion industry battles an unprecedented slowdown in tech spending globally, compelling some of the country’s top employers to look inward and boost margins instead of additions to the single-biggest P&L cost lineitem. In FY23, amidst the tail end of buoyancy, increments in the sector averaged around 12-18%. Those could drop to 6-10% this year.

Rallis India, a leading company in the agricultural sector, has declared their Q2 FY24 results on 25 Oct, 2023. The company's topline has witnessed a decrease of 12.53% compared to the same quarter last year. However, the profit has shown a significant increase of 15.41% YoY.