Recommendations Financial News

Ashish Kacholia trimmed his stake in smallcap stock Xpro India by 42 bps during the September 2023 quarter, taking his holding in the company to 3.91%. Kacholia held a 4.33% stake in the company at the end of the June quarter. According to a July 9 filing on BSE, Kacholia trimmed his equity stake by 52 bps to 3.81% but later added 10 bps to bring it to 3.91% at the end of the September quarter. Xpro India is a diversified multi-divisional company with business interests in polymer processing.

Cyient DLM shares rallied 9% to Rs 748 in Tuesday's trade on BSE after the firm reported a net profit of Rs 14.6 crore in Q2FY24, which jumped 106.4% compared to Rs 0.71 crore in the corresponding period of FY22-23. Its revenue from operations climbed 71.5% year-on-year (YoY) at Rs 291.8 crore in the September quarter of FY 23-24, compared to Rs 171.55 crore. However, the EBIDTA was not up to the level as the firm reported Rs 23.5 crore during the Q2FY23-24, while the margin dropped 571 bps YoY. Following the Q2 results, brokerage firm Motilal Oswal said, «Cyient DLM reported robust revenue growth of ~72% YoY in 2QFY24, led by strong traction in the Aerospace and Defense vertical.

Navratri festival, which commenced on October 15, 2023, is being celebrated with immense enthusiasm across the country. Navaratri, spanning nine days and nights, holds great importance among Hindus as it is dedicated to the worship of Goddess Durga. Occurring in the month of September to October, it is known as Shardiya Navratri. Devotees offer prayers to the nine different forms of Goddess Durga during this period, symbolizing the triumph of good over evil.

IndusInd Bank is likely to have seen another healthy quarter (July-September), led by healthy loan growth and stable net interest margin (NIM). The bank's net interest income (NII) is expected to grow 16% year-on-year (YoY), while the net profit is seen rising 20% YoY, according to an average estimate of five brokerages. The lender reported loan and deposit growth of 4% quarter-on-quarter (QoQ) in its business update. On a YoY basis, loan growth stood at 20% during the said quarter. Analysts expect provisions to decline further in the second quarter, led by lower slippages and better asset-quality trends. In the first quarter, IndusInd Bank had reported a 32% YoY rise in the net profit at Rs 2,124 crore, while NII rose 18% YoY to Rs 4,867 crore. Here's what brokerages expect from IndusInd Bank's second-quarter results. Kotak Securities We expect an 8% YoY rise in PPOP, led by lower contribution from non-interest income, slower NII growth and higher operating cost growth, led by recovery in business momentum. NIM (reported) likely to decline 10 bps at 4.2%.

₹335 trillion, with strong support from F&O ADTO (up 9% MoM) and ongoing growth in cash ADTO (up 8% MoM). Also Read: Zerodha's Nikhil Kamath unveils ‘WTF Fund’ for aspiring entrepreneurs under 22. Details here With retail F&O ADTO rising 11% MoM and retail cash ADTO growing 9% MoM to ₹357 billion, overall retail ADTO increased 11% MoM to ₹120 trillion.

GAIL as its top 'gladiator' pick. The brokerage has recommended a buying range of ₹125-129 for the stock with a target of ₹146 (upside 12 percent) and a stop loss of ₹117. The time duration for the recommendation is 3 months.

Coal India share price (CIL) has gained more than 36% since end August and has scaled fresh 52-week high on Tuesday. The company remains in the spotlight on rising production and supplies while higher international coal prices also mean that the company’s realisations open market supplies to non-power sector will also improve. High dividend yield remains another key factor for higher investor interest in Coal India.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Brent crude futures, the global oil benchmark, eased 0.01% to $89.64 per barrel. On the domestic front, the benchmark equity indices traded higher.

Reliance Industries (RIL), underscoring concerns around succession planning at India’s largest company by market value. “A vote against this resolution is warranted as Anant Ambani’s limited leadership/board experience of around six years, raises concerns on his potential contribution to the board," ISS said in an October 12 note, which it shared with Bloomberg.

Proxy firm Ownership Matters told clients to vote against the election of Bruce Mathieson jnr and proposed director Bill Wavish to the Endeavour Group board.

Buy or sell stocks for today: Indian stock market declined for third straight session on Monday. Nifty 50 index lost 19 points and closed at 19,731 levels, BSE Sensex shed 115 points and closed at 66,166 mark while Bank Nifty index finished 62 points lower at 44,225 levels. In broad market, mid-cap and small-cap stocks managed to buck the trend and witnessed some bargain hunting ahead of festival driven demand.

BSE Sensex ended 115.81 points, or 0.17%, lower at 66,166.93, while the broader NSE Nifty 50 declined 19.30 points, or 0.10%, to settle at 19,731.75. “Overall we expect positive biasness to continue led by expectation of healthy demand during the festive season and robust earnings delivery from the majority of the corporates," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Here are key domestic and global market cues for Sensex today: Asian markets traded higher on Tuesday tracking overnight gains on Wall Street.

Also Read: 6 things that changed for the stock market overnight - Gift Nifty to rally on Wall Street “Nifty on the weekly chart sustained above the 10 week EMA and bullish candlestick pattern was formed in the last few weeks. This is a positive indication for the near term. The short term trend of Nifty remains choppy.

Day trading guide for today: Following weak global market cues on Middle East tension, Indian stock market ended lower for third straight session on Monday. Nifty 50 index ended 19 points lower at 19,731 levels, BSE Sensex finished 115 points southward at 66,166 mark while Bank Nifty index corrected 62 points and closed at 44,225 levels.

New Telstra director Maxine Brenner has been hit with a 17 per cent vote against her election to the telecommunications group’s board after one proxy firm raised concerns over how she has handled corporate governance issues while on the board of Qantas.

The SEC will zero in on investment advisors’ compliance with the marketing rule, their compensation arrangements and their recommendations of illiquid or difficult-to-value assets in its examinations in 2024.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

The Owino Market in Uganda's capital has long been a go-to enclave for rich and poor people alike looking for affordable but quality-made used clothes, underscoring perceptions that Western fashion is superior to what is made at home

Fixed deposit (FD) rates have increased in the last year. FDs are quite popular among senior citizens. Although FDs are known for their safety and insurance coverage up to ₹5 lakh per account, the post-tax returns may not be as competitive. Yes, if you are getting an interest rate of 7 per cent on a term deposit, it does not mean that you will be getting the same post-tax deductions.

Israel-Hamas War: As Israel Defence Forces (IDF) prepares for a ground offensive in Gaza against Hamas targets, Israel's Minister of Diaspora Affairs, Amichai Chikli has recommended Hamas militants to lay down weapons and come out of the tunnel if they want any chance at mercy from Israel. The development comes as Israel's Prime Minister's Office clarified on Monday that there is no ceasefire in Gaza.

The Electronics Manufacturing Service (EMS) indust... moreThe Electronics Manufacturing Service (EMS) industry has evolved over the years, aided by increased outsourcing of manufacturing activities by OEMs.