Research Financial News

Revenues for the quarter rose 5% year-on-year to Rs 1,08,216 crore in the July-September quarter.

demand for gold bars and coins remains strong during the festive season, partly fuelled by the rise in gold prices and expectations of further increases. This trend is further enhanced by sales across online marketplaces, making gold more accessible, according to a World Gold Council report released on Friday. High prices coupled with an inauspicious period in the Hindu calendar for making purchases of valuable items from mid-September to early October, kept consumers away from jewellery buying. However, market reports indicate early signs of a resurgence in gold buying due to various ongoing festivals, with demand largely driven by wedding purchases. Retailers are actively implementing marketing campaigns to stimulate sales, said Kavita Chacko, Research Head, India of World Gold Council.

Some hurricane-impacted households in North Carolina and Florida will receive one-time, direct cash payments of up to $1,500 on Friday

Subscribe to enjoy similar stories. A new class of weight-loss drugs is changing the food industry, but not in the way many expected at first. They could present just as many opportunities as pitfalls.

JSW Steel, the country’s largest producer of steel, saw its profit plunge 85% on year in the September quarter weighed down by weaker realisations, and a one-time loss. The steel-maker clocked in a consolidated net profit of Rs 404 crore in the Jul-Sep period as against Rs 2,773 crore a year ago. Revenue from operations were down by more than 11% on year at Rs 39,684 crore.

Nifty formed a long bearish candle on the weekly chart on Friday. Technically, this suggests that the markets are likely to remain under pressure in the near term. However, there is a possibility of a minor pull-back rally or sideways consolidation in the next 1 or 2 days after a sharp fall, which was witnessed in Friday’s trading session.

income disparity coverage for those earning up to Rs 5 lakh annually between fiscal years 2013-14 and 2022-23, said a State Bank of India (SBI) report on Friday. To paraphrase the «often myth of worsening inequality» in India, the research report from the Economic Department of SBI has analysed the income disparity curves of assessment years (AY) 2014-15/FY14 and AY24/FY23. A comparison of disparity in income during AY15 and AY24 shows that there is a clear rightward shift in the income distribution curve, signifying people in lower income brackets are increasing their income to converge towards their share in population, it said. «Our analysis shows that there has been a cumulative 74.2% decline in income disparity coverage for those earning up to Rs 5 lakh. This shows the continuous efforts of Govt are reaching the bottom of pyramid — that is leading to increase in income of 'lower income group' people,» said the report titled 'How Tax Simplification has given a necessary fillip to ITR Filing'.

NMDC Ltd.(up 0.92%) stood among the top gainers.

Revenue from operations, meanwhile, jumped 14% year-on-year ( YoY) to Rs 16,970 crore in the reporting quarter.

Benchmark NSE Nifty closed 218.61 points down at 24180.8 amid selling in frontline bluechip counters.

longevity? While many fitness gurus have sworn by this tactic to remain at the peak of good health and live a long life, recent research suggests that you don’t need to walk a specific number of steps to live longer. However, being active is the key to being fit.

IDBI Bank reported a 39% jump in net profit for the second quarter of the fiscal at Rs 1836.5 crore against Rs 1323.3 crore in the year ago period, riding on steady business expansion and improvement in asset quality. Its net interest margin for the quarter improved by 54 basis points to 4.87% as compared with 4.33% in the corresponding period last year.

BPCL on Friday reported a standalone net profit of Rs 2,397 crore for the second quarter ended September 2024. This is a fall of 72% from Rs 8501 crore reported in the previous year quarter. Revenue from operations rose by marginal 1% to Rs 1.17 lakh crore in the reporting period as against Rs 1.16 lakh crore in the corresponding period of the previous year.

Indian rupee ended nearly unchanged on Friday, managing to hold its ground in the face of weakness in Asian peers and a fall in local stocks, on account of likely dollar sales by the Reserve Bank of India. The rupee closed at 84.08 against the U.S. dollar, close to its record low and nearly unchanged from its close of 84.0775 in the previous session. The currency was little changed week-on-week.

Market veteran Madhusudan Kela says that within one market, a severe bear market and a severe bull market are going on simultaneously. The question is, do we have the ability to identify and spot real good sectors and real good companies? Also we have to recognise that in all of this allocation, expectation has to be moderate. From my perspective, return of capital is the first priority. Return on capital is the second priority. If you are intoxicated believing the bull market is going on and you can do anything, that phase is over. It is good to see you laughing and everybody in the last 12 months has been laughing. If you bought real estate, you have made money. If you had gold and silver, you would have been happy. And if you were in the equity market, you have every reason to smile. It has been a year of full all-round prosperity. Madhusudan Kela: It is not only one year. I would say from the COVID bottom, the last three-four years have been very good. If you look at the CAGR compounding of a small cap index or mid cap index, it is above 40%. Even Nifty from the low has compounded reasonably well. And stock pickers have had a phenomenal run in the last three-four years. It is in this context we are chatting today.

JSW Steel Ltd on Friday reported 84% decline in its consolidated net profit at Rs 439 crore in the second quarter, compared with Rs 2,760 crore in the last year quarter. Revenue from operations in the reporting period fell 11% year-on-year to Rs 39,684 crore.

Colgate-Palmolive (India) Ltd. fell 3.88 per cent to Rs 3090.9 in Friday's session as of 01:44PM (IST) even as the equity benchmark Sensex traded 787.68 points lower at 79277.48. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3893.0 and a 52-week low of Rs 2003.65 on NSE. Around 18766 shares changed hands on the counter till 01:44PM (IST).

Vedanta Ltd. dropped 3.0 per cent to Rs 454.65 at 01:49PM (IST) in Friday's trade. The scrip has hit a high of Rs 472.1 and low of Rs 449.3 so far during the session. The stock had closed at Rs 468.75 in the previous session. The counter has had a total traded volume of 294719 shares so far with a value of Rs 13.48 crore on the NSE. It traded at a price-to-earnings multiple of 34.21 and a price-to-book ratio of 3.29.

Tube Investments of India Ltd. traded 2.16 per cent down at Rs 4623.5 at 01:39PM (IST) on Friday, even as BSE benchmark Sensex dropped 787.68 points to 79277.48. The scrip had closed at Rs 4726.0 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4807.05 and Rs 2885.25, respectively.

Subscribe to enjoy similar stories. The clock is ticking. You should have been asleep long ago.

Varun Beverages Ltd. traded 0.73 per cent lower in Friday's session at 12:27PM (IST). The stock opened at Rs 610.05 and has touched an intraday high and low of Rs 616.95 and Rs 593.75, respectively, during the session so far. The stock quoted a 52-week high of Rs 682.84 and a 52-week low of 331.28. About 104,248 shares changed hands on the counter so far.