Shares of Coal India Ltd. fell over 6% on Wednesday, May 27, after the government announced an Offer for Sale (OFS) in the company on Tuesday evening, confirming a CNBC-TV18 newsbreak from May 7 in the process. The government plans on selling 1% of the company’s total equity, with an option to sell another 1%…
The Indian rupee opened 7 paise lower at 95.75 against the US dollar on Wednesday (May 27), compared with Tuesday’s (May 26’s) close of 95.68/$, amid persistent concerns over the West Asia conflict and elevated crude oil prices. The domestic currency remained under pressure as fading hopes of a near-term resolution to the Iran conflict…
Shares of Pine Labs Ltd. are expected to remain in focus on Wednesday, May 27, after the fintech major reported a sharp improvement in profitability and outlined a strong growth outlook for the coming years. Brokerage firm Citi maintained a ‘Buy’ recommendation on Pine Labs with a target price of ₹235 per share following the…
US stocks advanced on Thursday, May 28, with the S&P 500 and Nasdaq Composite hitting fresh record highs after reports of a potential breakthrough in ceasefire negotiations between the United States and Iran eased some geopolitical concerns. The S&P 500 rose 0.6%, while the Nasdaq gained 0.8%. The Dow Jones Industrial Average was little changed,…
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) are trading lower by 2% on Wednesday, May 27, after the railway-ticketing and catering major reported a mixed set of fourth-quarter results for FY26. The company surpassed its full-year management guidance on both revenue growth and EBITDA margin for FY26. IRCTC had guided for 9-10% revenue…
Shares of Oil and Natural Gas Corporation Ltd. (ONGC) declined as much as 4% on Wednesday, May 27, after the state-run energy major reported a weak operational performance for the fourth quarter of FY26, impacted by lower production and higher exploration-related costs. ONGC’s standalone revenue rose 13.9% sequentially to ₹35,928 crore during the March quarter….
Shares of Siemens Ltd. gained on Wednesday, May 27, as the stock reacting to their fourth quarter earnings. The company’s revenue grew 14.6% in the March quarter to ₹4,617 crore from ₹4,029 crore last year. This was marginally higher than Street estimates of ₹4,365 crore. However, its profits and margins were below estimates. Its profit…
Average inflation forecasts are likely to move higher, and the RBI should begin the rate hike cycle to maintain its credibility as an inflation-focused central bank, according to Suyash Choudhary, CIO-Fixed Income at Bandhan Mutual Fund. However, he believes rate hikes alone may not immediately solve the problem. He said the RBI must avoid mixed…
HBL Engineering Ltd said it has received a letter of acceptance from Chittaranjan Locomotive Works (CLW) for the supply, installation, testing and commissioning of on-board Kavach loco equipment. The contract value is ₹1,714 crore, excluding 18% GST, the company said. The order is to be executed within 12 months, according to the filing. HBL Engineering…
Cautious sentiment surrounding the fragile US-Iran ceasefire weighed on domestic equities, leading to a muted start for Wednesday’s trading session. Despite the subdued trade, the benchmark Nifty50 index continues to hold above the crucial 23,800 breakout zone on the daily chart. However, the recent rally has triggered profit booking over the last two sessions, limiting…
