Shares of BSE Ltd. opened as much as 3% lower on Friday, May 8, following its March quarter earnings, which were driven largely by robust derivatives activity and sharp growth in transaction revenues. Brokerage firm Jefferies has maintained its ‘Hold’ rating on BSE with a price target of ₹3,620, implying a valuation of 34x June…
Sony Group Corp. will buy back up to ¥500 billion ($3.2 billion) of its shares, the company said as it set out a profit forecast largely in line with expectations on Friday. For the year through March 2027, the Tokyo-based company expects an operating profit of ¥1.6 trillion, about an 11% increase. Sony improved profitability…
India’s stock market may have seen sharp swings amid geopolitical concerns, but the recent rally is increasingly being driven by earnings rather than sentiment, according to Mihir Vora, Chief Investment Officer at Trust Mutual Fund, which manages assets of nearly $450.4 million. With broader markets outperforming and mid- and smallcap indices scaling new highs, Vora…
Billionaire Ajay Piramal’s Indian non-banking financial company (NBFC) is looking to raise as much as $1 billion in foreign currency loans this year to meet strong demand for retail credit in the world’s fastest-growing major economy. Mumbai-based Piramal Finance will mainly tap foreign banks and multilateral agencies for the loan, with tenors ranging from three…
Shares of OnEMI Technology Solutions Ltd. made their Dalal Street debut on Friday, May 8, after the IPO witnessed healthy participation from both institutional and retail investors. The stock opened at ₹191 on the BSE, a premium of 11.6% over the IPO issue price of ₹171. On the NSE, the shares debuted at a premium…
Shares of Sonata Software Ltd. gained as much as 9% on Friday, May 8, in response to its fourth quarter results. This is the biggest single-day gain for the stock in a month. Here are five reasons why the stock has surged in today’s session: Strong Results For the March quarter, Sonata Software reported a…
A crucial meeting of the Tata Trusts, originally scheduled for Friday, May 8, has been postponed to May 16, sources told CNBC-TV18. According to sources, the meeting was set to take up two key agenda items, including consideration of a nomination to the board of Tata Sons. Tata Group veteran Bhaskar Bhat, former managing director…
Shares of PB Fintech Ltd. continue to remain in focus on Friday, May 8, after brokerage firm HSBC revised its price target on the stock. The counter also witnessed a large pre-market block deal on Friday. Around 48.40 lakh shares worth nearly ₹805 crore changed hands at ₹1,664 per share in the block deal window….
Shares of Britannia Industries Ltd. declined 5% on Friday, May 8, after it reported a weak set of earnings for the fourth quarter. The stock is among the top losers on the Nifty 500 index. Brokerage firm Morgan Stanley has an “equal-weight” recommendation on the stock with a price target of ₹6,019 apiece, indicating an…
“As a journalist, the details always tell the story” – this quote by American author and musician James McBride describes a scribe in a nut shell. Meet Shubhobrota Devroy, who carries this journalism sentiment in his heart. As an experienced business journalist, he is always on a steep learning curve in his profession. From macroeconomics,…
