Tanmay Tiwary specialises in covering equity markets, focusing primarily on sectors like automobile, FMCG, and new-age/internet companies. With nearly 5 years of experience in leading media organisations, his journey began with HT TechCircle (then NewsCorp TechCircle), followed by roles at CNBC, Republic. He has also worked with Forbes and Sportskeeda in the past. Academically, he holds two post-graduate degrees, one in broadcast journalism from the Indian Institute of Journalism and News Media, Bengaluru, and another in Mass Communications from the University of Leicester. He completed his undergraduate studies in journalism and mass communications from IP University in 2018.
Tanmay Tiwary specialises in covering equity markets, focusing primarily on sectors like automobile, FMCG, and new-age/internet companies. With nearly 5 years of experience in leading media organisations, his journey began with HT TechCircle (then NewsCorp TechCircle), followed by roles at CNBC, Republic. He has also worked with Forbes and Sportskeeda in the past. Academically, he holds two post-graduate degrees, one in broadcast journalism from the Indian Institute of Journalism and News Media, Bengaluru, and another in Mass Communications from the University of Leicester. He completed his undergraduate studies in journalism and mass communications from IP University in 2018.
On the bourses, ITC stock has rallied 14.1 per cent over the past month. The stock hit an all-time high of Rs 510.60 on July 24, 2024. This was the first instance of ITC stock crossing Rs 500-mark.
Spillover of trading activity from these contracts into remaining products, analysts believe, can limit the impact to 20-25%
In the past week alone, Tata Motors' stock has climbed 18 per cent following an upgrade from brokerage firm Nomura, which set a 'Buy' rating and a target price of Rs 1,294 per share.
Most of the brokerages expect M&M's profit to fall up to 15 per cent in Q1FY25.
Maruti Suzuki Q1 2024 results: Investors will eye margin trajectory amid commodity pressures, elevated discounting.
A major driver behind this rally, analysts said, is DLF's strong June quarter performance.
Stock market highlights today, July 26: The Nifty50 also saw a robust gain of 455 points, hitting an record high of 24,861 intraday
The electric vehicle (EV) revenue accounted for 33% of total revenue. The company's order book expanded to Rs 23,300 crore in Q1FY25, from Rs 22,600 crore in Q4FY24.
The fall in the share price came after the company announced its June quarter (Q1FY25) results, which missed street expectations.
On the bourses, Tata Motors stocks were buzzing in trade after several brokerages raised the target prices. The stock rallied as much as 3.82 per cent to hit a fresh record high of Rs 1,067 per share.
Brands such as Don Julio, Johnny Walker, RC American Pride, Godawan and McDowell X Series also performed well during the quarter.
Analysts said HUL is already at a 52-week high and has seen a sharp up move in the past two months. Thus, they believe that some profit booking in the near term is possible.
Nestle India experienced robust revenue growth during the quarter. The company, analysts believe, gained from enhanced distribution. Thus, it is expected to see margin expansion of over 100 bps.
Analysts said BPCL reported a robust performance in the June quarter (Q1FY25) despite a challenging environment.
The IPO comprises a fresh issue of 41.8 million shares valued at Rs 397.1 crore and an offer for sale (OFS) of 11.9 million shares worth Rs 113.05 crore.
Earlier this week, Hindustan Unilever approved the sale of its water purification business to AO Smith India for an Enterprise Value (EV) of Rs 601 crore or $72 million.
At 6:36 AM, GIFT Nifty futures were up 19 points, trading at 24,828.50 levels, indicating a higher start for the day.
Some brokerages have reduced target prices after muted Q1 showing
Domestically, foreign institutional investors were net buyers on July 16, acquiring shares worth Rs 1,271.45 crore, whereas domestic institutional investors sold shares worth Rs 529.48 crore.
The Nifty-50 is expected to deliver 12% earnings growth in FY25 over a high base of FY24 (+26 per cent Y-o-Y), said Khemka.