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IndiGo's Net Q1 Profit Down 11.7% To ₹2,728.8 Cr, Beats Estimates In Difficult Quarter
Delays in the delivery of parts from original equipment manufacturers have stunted the carrier's performance in the near term, though most analysts predict growth towards the end of the year, helped along by likely price hikes.
Cipla Shares Shoot Up After Q1 Profit Goes Up 18% To Beat Estimates As U.S. Business Shines
UBS Upgrade Keeps Ashok Leyland In The Black Despite Smaller Q1 Profit
IndiGo's Net Q1 Profit Down 11.7% To ₹2,728.8 Cr, Beats Estimates In Difficult Quarter
Cipla Shares Shoot Up After Q1 Profit Goes Up 18% To Beat Estimates As U.S. Business Shines
UBS Upgrade Keeps Ashok Leyland In The Black Despite Smaller Q1 Profit
ONGC Share Price Jumps On Plans To Begin Pumping Gas From Flagship Facility
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The company began its first oil production from the block in January this year, which lies in the Krishna-Godavari basin off the Bay of Bengal.
Axis Bank's Q1 Profit Inches Up 4% To ₹6,034.64 Crore, Misses Estimates
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The private lender's net profit came in at ₹6,034.64 crore for the quarter ended June 30, compared with the ₹5,797.1 crore it earned in the same quarter a year ago. This fell short of analyst estimates of ₹6,458 crore.
Property Stocks DLF, Godrej Properties, Brigade Tank After Budget Scraps Indexation Benefit On Long-Term Capital Gains Tax
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The adjustments to capital gains announced in the Union Budget are set to take effect from Tuesday.
ITC, HUL, Other FMCG Stocks Surge As Sector Finds Itself Among Winners Of Budget 2024
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FMCG stocks ITC, HUL and Godrej Consumer rose as FM announced measures to boost rural consumption in the budget. ITC was up 4.30%, HUL gained 2.22% and Godrej Consumer climbed 3.54%.
Bears Take Hold Of Defence Stocks HAL, Mazdock, Cochin Shipyards After Cold Shoulder In Budget Speech
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In the lead-up to the Budget, defence stocks had been under pressure, with many seeing sharp corrections amid reports of profit booking and concerns over divestments.
Defence Stocks HAL, BEL, Cochin Shipyard, Mazdock Mixed Ahead Of Budget 2024
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In the interim budget, the finance minister had announced a budgetary allocation of ₹1.72 lakh crore towards FY25 defence capital expenditure, which was 20.33% higher than the actual expenditure of FY23 and 9.40% more than the revised allocation of FY24.
Kotak Mahindra Bank's Poor Q1 Showing Drags Shares Down To Lowest In 3 Months
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The bank's net interest income (NII) climbed to ₹6,842.35 crore from the ₹6,234 crore it logged a year ago, marking a year-on-year increase of 9.8%. The figure also fell short of analyst expectations of ₹7,066 crore.
HDFC Bank Q1 Net Profit Climbs 35% To ₹16,175 Cr To Beat Estimates, But Dips 2% Sequentially
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Going forward, analysts expect a re-rating for HDFC Bank's stock to hinge on the progress of deposit and loan growth as well as margin trajectory.
Defence Stocks HAL, BEL, Others Stumble Amid Divestment Concerns Ahead Of Budget, Say Experts
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Defence stocks are under pressure after the strong rally. Experts attribute the high valuations and possible govt. stake sale in PSU stocks during budget.
LIC, Mutual Funds Increase Stake In Larsen and Toubro
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LIC and mutual funds increased their stakes in Larsen and Toubro according to June quarter shareholding data.
Tata Sons Reportedly Mulls Stake Reduction In This Unit As It Sets Stage For IPO
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Tata Sons will likely sell its shares in stages but the exact timeline for both the stake reduction and the IPO has not been revealed yet.
India's 13 Maharatna Companies: What You Need To Know About These Special PSUs
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These companies are chosen based on their performance, turnover and net profit, among other criteria. Maharatna companies have the liberty to invest up to ₹5,000 crore without government approval, allowing them to operate more independently and efficiently.
Jio Financial Services Jumps On Receiving RBI Nod To Go From NBFC To Core Investment Company
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The RBI describes a CIC as an NBFC with an asset size of ₹100 crore or above.
Adani Ports Share Price Inches Up On Reports Of Pumping ₹10,000 Cr To Draw Some Of The World's Biggest Ships
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The port will welcome its first container vessel from Maersk on July 12 for a trial run at the 800-meter container berth.
Maruti Suzuki's Share Price Shoots Up As UP Govt Scraps Tax That Could Save Its Hybrid Buyers Up To ₹3 Lakh
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Typically, Uttar Pradesh charges 8% road tax on vehicles that have an ex-showroom price of under ₹10 lakh and 10% on those above ₹10 lakh. With this new rule, hybrid vehicles are now exempt from the registration fee, just like electric vehicles.
Bajaj Finance Shares Slip Over 1% After Q1 Update, But Analysts Remain Bullish
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The non-banking financial company (NBFC) reported a robust 31% year-on-year increase in assets under management (AUM), reaching ₹3.5 lakh crore for the quarter ended June, compared with ₹2.7 lakh crore in the same quarter last year.
Auto, Private Banks Trading Below Historical Levels, Says Motilal Oswal
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The Nifty Auto index has surged over 35% in the last six months. But, Motilal Oswal's analysis shows that the sector is still trading below its historical levels.
L&T's Share Price Shoots Up On Reports Of $4B Orders From Saudi Aramco
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The order from the state-owned petroleum giant reportedly covers gas compression systems, tied to Aramco's ambitious $110 billion (₹9,181.7 crore) Jafurah gas project in Saudi Arabia's eastern province.
Hindenburg Slapped With SEBI Notice Over Adani Short Selling, Calls It Attempt To 'Silence And Intimidate'
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Hindenburg defended itself by saying that it had already disclosed its short position in the 2023 article "so readers could weigh the potential for bias."
Global Analysts See Turnaround In Store For HDFC Bank, ICICI Bank And Other Private Lenders
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The brokerage expects these leading private banks to beat market returns in the June quarter as strong earnings are projected to bolster net interest margins and sustain robust credit flow, ensuring a stable outlook.
Godrej Unveils New Development Project In Pune That Could Add ₹1,800 Cr To Topline
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Godrej Properties will develop an 11-acre land parcel in Hinjewadi, Pune, which is estimated to fetch ₹1,800 crore in revenue.
IREDA, HUDCO Shares Shoot Up As Govt Said To Be Planning To Boost Bonds Via Tax Exemption
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The government plans to include IREDA and HUDCO under Section 54EC of the Income Tax Act. This move will exempt investors buying their bonds from capital gains tax, leading to lower interest rates than the current bond market, the official stated.
Yes Bank Shares Inch Up Amid Reports Of Wide Layoffs, Fundraising Plans
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Yes Bank's move is significant as it is the first private sector bank in years to undertake layoffs, while other private sector banks have been hiring. The bank, with State Bank of India as its largest shareholder, has been trying to improve its operating profit.
Citi Confident Tech Mahindra Management Will Hit Targets But Still Sees 18% Downside
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Tech Mahindra reported a 41% year-on-year drop in net profit to ₹661 crore for Q4 FY24, due to a slowdown in key verticals including telecom, communications, media and entertainment. However, sequentially, net profit was up by 29.5%.
Morgan Stanley Expects L&T's Greener Play To Reap Dividends, Sees 9% Upside
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The stock has gained a mere 0.27% so far this year, underperforming an 8.55% uptick in the Nifty 50.
Bharti Airtel In Talks For Big Indus Towers Play And Has A Solution To Vodafone Dues: Report
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Last week, Bharti Airtel acquired an additional 1% stake in Indus Towers. At the same time, Vodafone Group sold a stake in block deals that resulted in 20% equity in the company changing hands.
Morgan Stanley Thinks Zomato Looks Even Better After Zepto's Big Fundraise, Sees 21% Upside
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The brokerage noted that Zepto's recent funding round has raised the profile of the quick commerce channel, where Zomato plays a significant role following its acquisition of BlinkIt in June 2022.