Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Maruti Suzuki, Tata Motors, and Bajaj Finance among others….Read More
Malpani Pipes and Fittings’ initial public offering saw 7.35 times subscription on the first day of bidding, i.e. January 29, with healthy demand from the retail and non-institutional investors categories.
The plastic pipes maker tapped capital markets to raise Rs 25.92 crore via initial share sale at the upper end of price band of Rs 85-90 per share. The book-built issue comprises of entirely fresh issue of 28.8 lakh shares.
Investors picked 1.52 crore equity shares of Malpani Pipes on Wednesday, compared to the offer size of 20.8 lakh shares via 7,957 applications, the subscription data available on the BSE showed.
The Nifty moved up on Wednesday, shrugging off two days of weakness. Though sentiment has improved slightly, overall weakness is likely to persist as the index remains below the 21EMA.
On the lower end, 23,000 is likely to act as immediate support, and a fall below this level might trigger panic in the market. However, above 23,200, the Nifty could gather more strength.
The market is expected to see consolidation after the recent rally. Below are some trading ideas for the near term….Read More
#1 Q3 EBITDA fell 16 percent YoY, and was 19 percent below estimates
#2 JLR faces weak demand in China & Europe, rising customer acquisition cost & higher warranty expense
#3 India CV and PV demand has slowed down, too, & competition is rising in EVs
#4 While expect a seasonally better Q4, cut FY25-27 EBITDA by 7-11 percent & EPS by 5-10 percent
Tata Motors Ltd reported a 22 percent year-on-year drop in consolidated net profit to Rs 5,451 crore for the third quarter of FY25, missing analyst estimates. The automaker’s performance was weighed down by weaker margins and subdued Jaguar Land Rover (JLR) volumes, despite a sequential improvement.
Revenue from operations rose 2.7 percent on-year to Rs 1,13,575 crore, driven by a modest improvement in overall sales. However, earnings before interest, tax, depreciation, and amortisation (EBITDA) margins fell 60 basis points year-on-year to 13.7 percent. Earnings before interest and tax (EBIT) stood at Rs 10,000 crore, reflecting an improvement of 60 basis points.
The Federal Reserve’s “patient” approach to effecting rate cuts may keep FIIs selling in Indian markets at a time when earnings growth and valuations provide little comfort….Read More
Dollar bulls were ready to pounce on the euro on Thursday should the European Central Bank sound dovish on rates later in the day, given the Federal Reserve had pressed the pause button on its easing cycle overnight.
The dollar was down a fraction both against the yen at 155.01 and on a basket of currencies at 107.880.
Trends on GIFT Nifty indicate a flat start for the broader index in India, with a loss of 3.50 points or 0.02 percent. The Nifty futures were trading around 23,150 level.
The Nifty 50 needs to surpass and sustain above the 23,350-23,400 range to negate this lower top-lower bottom formation, as above it, 23,600-23,700 is expected to be a key hurdle (200-day and 50-day EMA). However, as long as it stays below 23,400, the consolidation may continue, with support at the 23,000-22,900 zone, according to experts….Read More
JBM Auto on Wednesday said its consolidated net profit increased 8 per cent to Rs 52 crore in the December quarter.
The company had recorded a net profit of Rs 49 crore in the year-ago period, JBM Auto said in a statement.
Sales, including other operating income, stood at Rs 1,396 crore in the third quarter of the current fiscal year, up 4 per cent compared to Rs 1,346 crore a year ago.
#1 Japan stocks track Wall Street declines -Most Asian markets closed for holiday
#2 GIFT Nifty signals quiet start
#3 Wall Street ends lower as Fed holds rates steady
#4 US Q4 GDP reading due today; December PCE data tomorrow
#5 Tesla Q4 results miss estimates as automotive revenue drops 8%
#6 Meta shares pop after company beats on revenue
#7 Microsoft shares slip on weak quarterly revenue guidance
#8 IBM shares rise 9 percent on earnings beat
#9 European markets edge higher
#10 US 10-year yield largely unchanged: USD firms against peers
#11 Gold dips as dollar climbs
#12 Brent below USD 77 as US stockpiles rise
Oil prices were little changed in early trading on Thursday, as markets watched for tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States.
Brent crude futures rose 7 cents, or 0.1%, at $76.71 a barrel. U.S. crude futures climbed 17 cents, or 0.2%, to $72.79. U.S. crude futures had settled at their lowest price this year on Wednesday.