Shares of One97 Communications Ltd., parent company of payments services provider Paytm are in focus on Thursday, July 16, ahead of the company’s board meet on Monday, July 20. During the board meet, the board will not only consider results for the June quarter, but also consider an approve a bonus issue of shares for…
Shares of Billionbrains Garage Ventures Ltd., the parent company of trading platform Groww, will remain in focus on Thursday, July 16, after multiple brokerages reaffirmed their bullish stance following the company’s June quarter results. While the Street had expected a largely flat quarter amid a moderation in market activity after a strong March quarter, Groww…
Shares of Hindalco Industries Ltd. will be in focus on Thursday, July 16, after brokerage firm Kotak Institutional Equities double upgraded the stock to ‘Buy’ from ‘Reduce’, citing improving earnings visibility and an attractive risk-reward following the recent correction. The brokerage marginally raised its price target to ₹1,120 per share from ₹1,100. The revised target…
Shares of HDB Financial Services Ltd. opened 3% higher on Thursday, July 16, after the company reported a strong set of earnings for the June quarter, driven by healthy growth in net interest income and an improvement in asset quality. The NBFC reported a 38.3% year-on-year increase in net profit to ₹785 crore for the…
The Indian rupee opened marginally stronger at 96.25 against the US dollar on Thursday (July 16), compared with Wednesday’s (July 15’s) close of 96.26, but remained under pressure as rising crude oil prices and escalating geopolitical tensions in the West Asia continued to weigh on the currency. The rupee has fallen around 1.7% so far…
Shares of ICICI Lombard General Insurance Ltd. fell 14% on Thursday, July 16, in response to its first quarter results, that were reported after market hours on Wednesday. The results have resulted in multiple downgrades from brokerages. This is the biggest single-day fall that the stock has seen since March 2020. Why HSBC Downgraded ICICI…
Shares of Biocon Ltd. gained on Thursday, July 16, after the company said its Malaysia unit has received approval from the European drug regulator for a new drug product fill finish line. The European Medicines Agency (EMA) has given its approval for a new drug product fill finish line for Semglee (insulin glargine) at Biocon’s…
Shares of Laser Power & Infra Ltd. made a strong debut on the stock exchanges on Thursday, July 16, after its initial public offering (IPO) received robust demand from investors across categories. The stock listed at ₹269 on the BSE, a premium of nearly 26% over its issue price of ₹214 per share. On the…
Shares of Emmvee Photovoltaic Power Ltd. are trading as much as 10% higher on Thursday, July 16, after the solar equipment manufacturer reported strong year-on-year earnings growth for the June quarter, supported by higher production and improved operating margins. On a consolidated basis, revenue from operations rose 51.3% year-on-year to ₹1,555.5 crore from ₹1,027.8 crore….
Shares of DB Corp Ltd. surged as much as 7.5% on Thursday, July 16, after the Dainik Bhaskar publisher reported a near 25% year-on-year rise in consolidated net profit for the June quarter, aided by robust advertising revenue growth and improved operating margins. The stock has since cooled off from the highs. The media company’s…
