Sensex snaps 3-day losing streak, ends 351 pts up; L&T, RIL, ITC shine

CLOSING BELL ON JULY 26, 2023: The NSE Nifty rallied 98 points to 19,778; IT and bank stocks gained ground, while M&M and Bajaj twins slipped on Wednesday.

11:05 AM

Cipla Q1 preview: India biz may push profit over 50% QoQ; US sales to drag

On the other hand, the company’s US business could contract by up to 4 per cent QoQ to $195 million on account of weak Albuterol Sulfate sales, estimates Nirmal Bang. 

 

As per an average of five brokerage estimates, Cipla’s QoQ profit may jump 57 per cent to Rs 825 crore, while this could be up 20 per cent from last year READ MORE

10:56 AM

Microsoft posts $20.1 bn quarterly profit as it promises to lead 'AI shift'

Microsoft on Tuesday reported fiscal fourth-quarter profit of $20.1 billion, or $2.69 per share, beating analyst expectations for $2.55 per share. It posted revenue of $56.2 billion in the April-June period, up 8 per cent from last year. Analysts had been looking for revenue of $55.49 billion, according to FactSet Research. READ MORE

10:45 AM

Tata Motors DVR hits record high, zooms 18% on delisting plan

The proposal, subject to shareholders’ approval, is aimed at simplification and consolidation of its capital structure. Earlier this year, Tata Motors delisted its American depositary shares listed on the New York Stock Exchange. READ MORE

10:35 AM

Sebi's move to regulate index providers on hold; revised proposal on cards

The Securities and Exchange Board of India (Sebi) has put on hold its decision to bring index providers within the regulatory ambit. The new regulations could have required global index providers, such as MSCI and Nasdaq — creators of benchmarks tracked by trillions of dollars — to register with the domestic securities regulator. READ MORE

10:26 AM

Will 'significantly' mark down Byju's valuation: Peak XV Partners

Peak XV Partners also added that the situation at Byju's is still developing, and they will continue to evaluate "all available options". READ MORE

10:14 AM

ALERT :: Sensex at day's high, up 500 pts

10:05 AM

ALERT :: Qatar's QIA in talks for minority stake in Reliance Retail, reports FT

>> Qatar Investment Authority (QIA), Qatar's sovereign wealth fund, is in talks to buy a minority stake in billionaire Mukesh Ambani's Reliance Retail Ventures, the Financial Times reported on Wednesday.

 

>> The fund is considering a $1 billion investment in the retail unit, giving it a stake of about 1% and valuing the business at around $100 billion, the FT said, citing three people with knowledge of the discussions.
 

10:01 AM

Comment :: 'Fed will play it safe even if inflation is coming under control'

Globally, market participants will be closely watching the Fed chief Jerome Powell’s comments about the disinflation process in the US and the likely trend in interest rates. A 25 bp rate hike, already discounted by the market, will not trigger any market move. But if the Fed chief indicates that inflation is coming under control and, therefore, no further rate hikes are needed, that will be a big trigger for markets to move up. But such an outcome is highly unlikely since the Fed will play it safe even if inflation is coming under control.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:48 AM

MARKET CHECK :: Top losers on the BSE at this hour

9:46 AM

MARKET CHECK :: Top gainers on the BSE at this hour

9:45 AM

RattanIndia Power slides 5% on weak Q1 show

>> Revenue up 1% at Rs 847.27 crore vs Rs 842.79 crore.

>> Net loss widens to Rs 549.36 crore vs Rs 389.3 crore.

>> Ebitda down 28% at Rs 156.75 crore vs Rs 219.17 crore.

>> Ebitda margin ar 18.5% vs 26%.

9:43 AM

Ceat rises nearly 4% as Q1 earnings beat estimates

>> Revenues up 4% at Rs 2,935.17 crore vs Rs 2,818.38 crore. (Bloomberg Estimate: Rs 2,940 crore )

>> Net profit at Rs 144.01 crore vs Rs 8.68 crore. (Bloomberg Estimate: Rs 125 crore)

>> Ebitda at Rs 387.10 crore vs Rs 165.26 crore. (Bloomberg Estimate: Rs 350 crore)

>> Ebitda margin at 13.2% vs 5.9%. (Bloomberg Estimate: 12%)

 

9:41 AM

Amber Enterprises declines 2.5% on profit booking post Q1

>> Revenues down 7% at Rs 1,701.99 crore vs Rs 1,825.73 crore. (Bloomberg Estimate: Rs 1,910.2 crore)

>> Net profit up 9% at Rs Rs 46.61 crore vs Rs 42.89 crore. (Bloomberg Estimate: Rs 42 crore)

>> Ebitda up 33% at Rs 131.92 crore vs Rs 99.24 crore. (Bloomberg Estimate: Rs 120 crore)

>> Ebitda margin at 7.8% vs 5.4%. (Bloomberg Estimate: 6.3%)

 

9:39 AM

Dixon Technologies slips 1% as Q1 earnings miss estimates

>> Revenues up 15% to Rs 3,271.50 crore vs Rs 2,855.07 crore.

>> Net profit up 48% to Rs 67.19 crore vs Rs 45.43 crore. (Bloomberg Estimate: Rs 72 crore)

>> Ebitda up 32% at Rs 131.87 crore vs Rs 100.12 crore. (Bloomberg Estimate: Rs 153 crore)

>> Ebitda margin at 4% vs 3.5%. (Bloomberg Estimate: 4.7%)
 

9:36 AM

Tech Mahindra trades weak ahead of Q1 results