Trade Financial News

The Czech power company CEZ on Tuesday reported net profit of 23.4 billion Czech crowns ($984 million) in the first three quarters of the year, 6.4 billion lower than the same period last year

After nearly a decade of negotiations, leaders during the United Nations climate conference’s first day decided on some of the finer points of much-debated sticking point aimed at cutting planet-warming emissions from coal, oil and gas

A former Hong Kong reporter of The Wall Street Journal says she'll sue the publication for sacking her because she joined a trade union

The car manufacturer said that the decline in PAT was owed to weak market sentiments and geo-political factors. The company’s revenue from operations fell 7% YoY to Rs 17,260 crore during the quarter.

Shares of Macrotech Developers Ltd.(up 4.51 per cent), Phoenix Mills Ltd.(up 2.1 per cent) and Brigade Enterprises Ltd.(up 1.87 per cent) ended the day as top gainers in the pack.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.63%), Chambal Fertilisers & Chemicals Ltd.(up 0.87%) and Madras Fertilizers Ltd.(up 0.12%) stood among the top gainers.

Amit Syngle, MD & CEO, Asian Paints, says the company faced pressure in the overall product mix and sales. All the metro towns and the bigger cities did not do well and even the B2B market, where Asian Paints accounted for 15-20%, did not go the way we anticipated. Industrials was the only segment where they did well. Coming to price hike, Syngle says that given the inflation in the first quarter, they took a price increase in terms of passing it on to the market. They also saw a lot of volatility in terms of the crude prices. The entire paint industry has taken a price increase and the full realisation of the price increase will happen in Q3. In Q2, your peers had managed to report a volume growth between 4% and 9%. But your numbers were clearly a bit of a miss. In fact, the volumes declined by half a percent. What led to this divergence because we usually do not see Asian Paints performing so badly versus its peers. What led to that? Amit Syngle: As we look at the last quarter, we have just touched our base in terms of the volume terms and the value has also been negative. July was good for us but then all the rainfalls and floods that came in August, were not very well distributed across the country. So, we saw a muted demand coming in both August and September and given that the seasonal component in overall our sales is very high, we saw that in all the seasonal markets, and faced pressure in our overall product mix and the overall sale.

The clean energy subsidiary of state-backed NTPC Ltd. has held discussions with advisers about pricing its IPO at more than 100 rupees ($1.18) a share, the people said, asking not to be identified because the matter is private. NTPC Green Energy may raise up to 100 billion rupees in the share sale, the company has previously said.

Nisus Finance Services has received the approval from the Bombay Stock Exchange (BSE) for launching its initial public offering (IPO). The issue will comprise a fresh issue of 57.80 lakh equity shares each with a face value of Rs 10, along with an offer for sale of up to 7,20,000 equity shares, aggregating to a total issue size of up to 65,00,000 equity shares.

Inventurus Knowledge Solutions and packaging company Manjushree Technopack have received a go-ahead from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). After refiling their IPO papers in August, the companies received regulatory approval between November 4 and 8. Shares of the companies would be listed on the BSE and the National Stock Exchange (NSE).

Hindalco Industries will relook at the IPO of its US-based subsidiary Novelis Inc once market conditions are right, allowing the company to command premium valuations, managing director Satish Pai said. The Indian aluminium major also announced a capital expenditure of $4 — $5 billion over the next three years for its upstream Indian projects. “The next few quarters for Novelis are going to be a little bit tough because the scrap spreads are tight. So I think for the IPO, we will wait till we are happy with the market conditions and Novelis performance is also at that level, then we can get that premium valuation that we want,” Pai said on a call after the company’s quarterly earnings.

Delhi Police have arrested 18 individuals allegedly involved in an illegal arms network, marking a major disruption to gun trafficking in the Delhi-NCR region. The police action targeted a syndicate that supplied weapons to criminals, with suspects leading double lives in various low-wage jobs while secretly engaging in arms trade.

civil engineering and construction company, recorded revenue of Rs 275.67 crore and net profit of Rs. 10.87 crore for the second quarter of the fiscal year 2024 — 25. “We are pleased with the steady progress reflected in our Q2FY25 results, showcasing our commitment to delivering strong performance in a challenging market environment including shortage of skilled and unskilled labour. Our strategic focus on operational efficiency and quality execution has been instrumental in driving consistent growth and resilience. We continue to actively pursue high-margin projects with reputable clients who value quality and reliability, including a number of residential projects,” said Vineet Kashyap, Managing Director, B L Kashyap & Sons.

Trent have witnessed an impressive northward journey since February 2023, wherein the stock saw a vertical rally on the daily chart, surging to an all-time high of Rs 8,345 in October 2024. The stock gave multibagger returns of 165.80% in the last one year and 121% in the current year so far.

Marico Ltd. traded 3.51 per cent at Rs 595.10 at 01:45PM (IST) on Tuesday, even as BSE benchmark Sensex 685.93 points to 78810.22. The scrip had settled at Rs 616.80 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 719.80 and Rs 486.75, respectively.

Dogecoin experienced a dramatic surge, rising nearly 45% to $0.4037 in the past 24 hours. This rally adds to its impressive growth of 145% since Donald Trump's victory in the 2024 US presidential election. The memecoin’s recent performance has surpassed that of major blue-chip cryptocurrencies like Bitcoin, which rose 30.5%, and Ethereum, which increased 40% over the past week. Analysts attribute Dogecoin’s recent surge not only to positive market sentiment but also to strong support from high-profile figures like Elon Musk. His public endorsements and tweets backing Dogecoin and Trump have played a critical role in driving investor interest and demand.

Tata Power Company Ltd. traded 2.69 per cent in Tuesday's session at 01:08PM (IST). The stock opened at Rs 431.55 and has touched an intraday high and low of Rs 436.25 and Rs 418.50, respectively, during the session so far. The stock quoted a 52-week high of Rs 494.85 and a 52-week low of 251.40. About 487,800 shares changed hands on the counter so far.

Colgate-Palmolive (India) Ltd. traded 1.95 per cent in Tuesday's trade at 01:13PM (IST). Around 6,381 shares changed hands on the counter. The scrip opened at Rs 2892.30 and touched an intraday high and low of Rs 2892.30 and Rs 2816.00, respectively, in the session so far. The stock of Colgate-Palmolive (India) Ltd. quoted a 52-week high of Rs 3893.00 and a 52-week low of Rs 2097.70.

Avenue Supermarts Ltd. 0.47 per cent to Rs 3868.00 in Tuesday's trade as of 01:02PM (IST) even as the benchmark Nifty ruled at 24024.35, 116.96 points. The scrip had closed at Rs 3886.35 in the previous session. The stock quoted a 52-week low of Rs 3645.65 and a high of Rs 5484.00. The company quoted a market-cap of Rs 251862.98 crore on the BSE.

«NIM has come down to 2.80%. However, I clarify again, our domestic NIM is at a healthy number of 3.14%. So, definitely there has been some impact with the rising cost of deposit. The NIM has been impacted and also yield on advances are flat, that is one of the basic reasons. And as regards the RBI circular on penal interest, so now we have to book under the penal charges,» says Rajneesh Karnatak, MD & CEO, Bank of India. Let us start off with your net interest margins here. Now, we saw 25 basis points fall when it comes to the NIMs in this quarter, but going forward your cost of deposits has been rising while the yield on advances has been declining. So, what is your outlook when it comes to the net interest margin considering these factors? Rajneesh Karnatak: As regards the NIM is concerned, our NIM we have shown at around 2.80%. However, this is the global NIM. The domestic NIM is at 3.14%. And the reason for this coming down of the NIM is one of the factors is that 15% of our global book is the international book, where the NIMs are on the lower side.

Gautam Duggad, Head Of Research, Director — Institutional Equities, Motilal Oswal, says in consumption stocks, they are down from big overweight to neutral. They are more positive on IT, private banks, real estate and industrials, where they have increased weight. They used to be significantly overweight on consumer discretionary in our model portfolio for the last three years. But even there, they have cut some weights. They used to hold 11 consumption stocks, out of which 9 were discretionary till July. Now, that is down to 6 or 7. On the other hand, in private banks, they are overweight after two years and Tech, they have gone overweight in July. In October, they made it even bigger overweight. What about the underperforming pockets. Pretty much all of consumption has been subpar, as per Street anticipation. Do you think much of the pain is in the price, especially for some of the paint and FMCG categories and do they now become attractive buys or is the pain going to linger on for the next few quarters? Gautam Duggad: Consumption is a very broad ocean now. It is no longer just FMCG. You have at least 10 sub-categories in discretion apart from staples. Staples have clearly slowed down and the signs were visible even a few quarters back when we were seeing urban growth coming off. Today, we are in a situation where as per the Nielsen or some other syndicate data which has come out a couple of days back, the urban growth has come down with just 2.8% at a very top-down industry level, which was 11% a year back.