May 07, 2024, 2:59 pm IST
Century Textiles' Q4 revenue increased 71% YoY.
Century Textiles increased their Q4 revenue by 71.7% year on year, from ₹982 crores to ₹1,686 crores. The profit from continuing operations decreased by 4.4% to ₹160.3 crores, compared to ₹167.7 crores in the previous year.
May 07, 2024, 2:12 pm IST
L&T Q4 earnings preview: Improved construction activity, order book should boost net profit and revenue
Larsen & Toubro (L&T) is projected to announce good Q4FY24 earnings, driven by increased construction activity across projects in the quarter, strong demand, and a robust order book.
The momentum of new orders in the international hydrocarbon, mobility, and power transmission and distribution industries will also fuel growth. The firm is scheduled to release its Q4 results on May 8.
The engineering, procurement, and construction (EPC) behemoth is likely to have its fiscal fourth-quarter net profit rise to Rs 4,380 crore, up 9.8 percent from the year-ago period, according to a Moneycontrol poll of eight brokerage estimates.
May 07, 2024, 1:21 pm IST
Railway Wagon Stock Rallies
Titagarh Rail Systems, the leading wagons stock in the railway sector, outperformed its counterparts IRFC, IRCTC, RVNL and BEML on May 7, with its share price rallying to nearly 9% with an intraday high of Rs 1,124.10 apiece on BSE. The reason behind the stellar buying despite the bearish market is that global brokerage Morgan Stanley has initiated coverage on Titagarh.
May 07, 2024, 12:32 pm IST
Airtel Celebrates 0.6 million 5G Customers In Himachal Pradesh, India
Bharti Airtel (“Airtel”), one of India’s leading telecommunications service
providers, today announced that it has 0.6 million customers enjoying 5G service in the state of
Himachal Pradesh. Pushpinder Singh Gujral, CEO-Upper North, Bharti Airtel said,
"We are making significant strides in building the network infrastructure required to facilitate
widespread adoption of 5G in Himachal Pradesh. We express our gratitude to our valued
customers who have upgraded to enjoy the power of unlimited 5G service at no additional cost.
Our tireless efforts are to keep our customers consistently connected to the State's fastest, most
reliable, and cutting-edge network.”
May 07, 2024, 12:01 pm IST
NSE Trading: Why SEBI Rejected The Proposal Of Extending Market Hours In Derivatives Segment
The market watchdog SEBI has most likely rejected the proposal of the leading stock exchange's NSE on extending market hours for the derivatives segment. The reason behind the decision is the lack of enthusiasm by the broker community on the move. In short, NSE's market extension proposal has received mixed support. After the post-earnings call on May 6th, NSE's chief executive Ashishkumar Chauhan informed reporters that the extension of market hours proposal for derivatives has been rejected by Sebi.
May 07, 2024, 11:43 am IST
Hindustan Zinc Declares 500% Interim Dividend
The Board of Directors of Hindustan Zinc Corp., through a resolution passed by circulation on Tuesday, May 07, 2024, consented by the majority of the directors
at 11:00 am, approved the Interim Dividend of Rs. 10/- per equity share i.e. 500% on the face value of Rs.
2/- per equity share for the Financial Year 2024-25 amounting to Rs. 4,225.32 Crores.
The record date for payment of the interim dividend, as already communicated is
Wednesday, May 15, 2024, and the Interim Dividend shall be duly paid.
May 07, 2024, 11:18 am IST
India Gold Prices Today Climbs A Little, Near All-Time High Range
Today Indian gold prices have firmly held position near previous records, costing around Rs. 72,380/- for 10 grams of 24-carat gold, and Rs. 66,350/- per 10 grams for 22-carat gold. Today, India's gold prices have remained stagnant for pure gold and standard gold, respectively. Likewise, the 18-carat gold rate in India today has surged a little, reaching Rs. 54,290/- per 10 grams. The Gold Futures maturing in June this year, are currently trading at Rs 71,304/-, while the US Spot gold rates today are floating around $ 2,320.7/- per ounce, a fall of 0.1% or $ 2.4/- lower than yesterday's closing.
May 07, 2024, 10:42 am IST
Tata Communications CloudLyte Opens New Vistas to Edge Computing
Tata Communications, the global comm tech player, today unveiled Tata
Communications CloudLyte, a fully-automated edge computing platform, designed to empower future-ready
enterprises to thrive in a data-driven world. Tata Communications CloudLyte also manages edge resources
centrally for a seamless experience and has built-in security with features like zero-trust architecture and layered
defenses in simplifying enterprise operations, maximizing efficiency, and driving business growth.
May 07, 2024, 10:17 am IST
Wabag Wins AFD, BEI & EU Funded, Consortium Order From ONAS for a 36 MLD Wastewater Treatment Plant at Sousse Hamdoun II, Tunisia
VA Tech Wabag, a leading pure-play water
technology Indian Multinational Group, solidifies its leading position in
Tunisia by securing a repeat order from Office National De L’assainissement
(ONAS). The consortium order entails Design, Build, Operate (‘DBO’),
towards a 36 MLD Wastewater Treatment Plant (WTP) valued at 114.22
Million Tunisian Dinars (approx. Euro 34 Million), located at Sousse
Hamdoun II, Tunisia. Mr. Habib Derouich, CEO of Wabag Tunisia, said, “We thank ONAS for their continued trust and
confidence in WABAG. With this repeat order won amidst strong global
competition, Wabag further strengthens its market leadership in Tunisia and
the North African region.”
May 07, 2024, 9:51 am IST
The Bombay Dyeing and Manufacturing Company Dividend Updates
The Board of Directors of the company recommended a final dividend of 60% i.e. Rs 1.20/- per equity share of Rs 2/- each for the financial year ended 31st March, 2024 to be approved at the 144th Annual General Meeting of the company.
May 07, 2024, 9:17 am IST
Pre-Opening Bell
Nifty above 22,450; Sensex up 50 pts in pre-opening session.
May 07, 2024, 9:11 am IST
Market Outlook Today By Aditya Gaggar, Director of Progressive Shares
On 6th May, PSU stocks led correction dragged the Index lower to settle at 22,443. The Index has formed a small red candle but on the downside, the zone of 22,330-22,380 will act as a strong support, while the higher side seems to be capped at 22,580. Post the triangle breakout in the PSU Banking sector, it seems it has completed its pullback move, and today's activity is likely to confirm. Select buying was witnessed in the Pharma sector and we anticipate a range breakout shortly. Despite the weakness in the markets, the Realty sector demonstrates strength and almost all the components have given breakouts from different patterns (Godrej Properties - Major Rounding Bottom Breakout, Prestige - Rounding Bottom Breakout, Brigade- Inverted Head & Shoulder Breakout) which indicates an extension of the present uptrend. Investors should keep an eye on the Chemical stocks as stock-specific buying was observed in yesterday's trade.
May 07, 2024, 8:52 am IST
VA Tech Wabag Shares In Focus On Order Win
WABAG receives a consortium order from ONAS for a 36 MLD wastewater treatment plant at Sousse Hamdoun II, Tunisia, funded by the AFD, BEI, and EU. The order is valued at 114.22 million Tunisian dinars, or around 34 million euros.
May 07, 2024, 8:37 am IST
IRB Infrastructure Shares In Focus
In the first month of the new fiscal year, April 2024, IRB Infrastructure Developers Limited and its subsidiary IRB Infrastructure Trust reported a 29% year-on-year rise in toll revenue. For the month under review, April 2024, both entities have reported aggregate toll collection of Rs. 503 Crs, as opposed to Rs. 388 Crs in April 2023.
May 07, 2024, 8:12 am IST
Gold Outlook By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Gold prices surged over 500 rupees in MCX to hit 71,200 due to renewed conflict in the Middle East and weak US jobs data. This data increased expectations of an earlier US interest rate cut, which is positive for gold prices. The forecast is for gold to trade in a range of 70,000 to 72,500 in the near future.
May 07, 2024, 8:04 am IST
Market Outlook Today By Asit C. Mehta Investment Interrmediates Ltd
From a technical standpoint, the index is consolidating within a rising channel pattern. On a daily scale, the index has formed a bearish engulfing candlestick pattern, followed by yesterday’s red candle, indicating weakness. If the Nifty goes below 22,340, the slide may continue to 22,100-22,000 levels in the near future.
Technically, the Bank Nifty index has formed a shooting star candle on the weekly scale. Thus, 49,975-50,000 will act as a short-term hurdle for the index. If the index sustains below 48,300 levels, then it could retrace back to 47,500-47,000 levels. For the short term, 48,500 and 48,300 will act as support points, whereas 49,500 and 50,000 will act as resistance points.
May 07, 2024, 7:55 am IST
Bank Nifty Prediction Today By Om Mehra, Technical Analyst, SAMCO Securities
Bank Nifty concluded its fourth consecutive trading session with a decline of 0.06%, settling at 48,895.30. The weakness in Nifty banking stocks was particularly pronounced, with the Nifty PSU Index experiencing a notable drop of 3.66%.
A closer look at the hourly charts reveals that Bank Nifty found support at the critical level of 48,800 from which it rebound during intraday. The index's strength will be tested if these support levels are breached.
However, 48,300 displays important support as long as the index holds these levels, the primary trend remains bullish. The index could remain sideways in the 48,300-49300 range. Once these levels are taken out, the Index may move with a clear trend.
May 07, 2024, 7:55 am IST
NIFTY Prediction By Om Mehra, Technical Analyst, SAMCO Securities
Following the bearish engulfing pattern that appeared on Friday, the Nifty displayed additional weakness. Hourly charts reveal lower lows and lower highs as well.
The Nifty encountered major resistance around the 22,450 mark, coinciding with the placement of the middle Bollinger band. The daily RSI (Relative Strength Index) also indicates weakness and is skewed towards the lower end. If Nifty slips below the crucial 22,400 level, it could potentially lead to a more pronounced decline. Key levels to watch include immediate support at 22,300 while resistance is placed at 22,550 followed by 22,600. Until the index attains 22,600, it would be better to employ a sell-on-rise strategy.
May 07, 2024, 7:54 am IST
Bank Nifty Outlook By Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities
Bank Nifty took Intraday resistance twice around the 49,230 levels and closed 28 points lower at 48,895. The call writers (Bears) further strengthened their position at the 49,500 Strike in Bank Nifty. Strong call writing was observed at the 49,200 & 49,000 Strike in the Index. The call writers (Bears) lead the put writers (Bulls) at the 49,000 Strike and the option activity at this strike will provide cues about Bank Nifty’s future direction. The call open interest at the 49,000 Strike is 1,87,058 contracts while the put open interest at the same strike is 1,53,058 contracts.
May 07, 2024, 7:53 am IST
Nifty Outlook By Mr. Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities
The put writers (Bulls) exited from the 22,700 Strike in Nifty today. Strong call writing (Bears activity) was observed at 22,600 & 22,500 Strike in the Index. However, the 22,400 Strike saw put writing (Bulls’ activity) which kept the Index in a tight range. The call writers (Bears) lead the put writers by a fair margin at the 22,500 and the option activity at this strike will provide cues about Nifty’s Intraday direction tomorrow. The call open interest at the 22,500 Strike is 2,29,724 contracts while the put open interest at the same strike is 1,64,231 contracts.
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