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[hfe_template id='11223'] [ad_1] While the domestic gush of liquidity has dismissed the impact of capital gains tax hike, expensive valuations and a not-so-great Q1 earnings season, foreign institutional investors (FIIs) have sold Indian stocks worth at least Rs 30,000 crore since Budget. In the last 17 trading days since Budget was presented on July 23, Sensex is weaker by around 1,400 points or 1.7% as FIIs have been incessantly pressing the sell button almost every day. Is it just about the capital gains tax hike issue? No, say experts. “FIIs are concerned only about the elevated valuations in India, nothing else. The enthusiasm of retail investors and the sustained flow of money into domestic institutions are keeping the valuations elevated, particularly in the mid and smallcap segments. The demand for stocks far exceeds the supply, keeping the valuations high. This demand-supply mismatch is likely to continue for sometime,” says V K Vijayakumar, Chief Investment Str...

[hfe_template id='11223'] [ad_1] The newly-listed Ola Electric Mobility on Friday announced that it will be holding its first board meeting after the listing on the exchanges, scheduled for August 14, 2024. “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that a meeting of the Board of Directors of Ola Electric Mobility Limited (“the Company”) is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024,” the company said in a filing to the exchanges. Ola Electric was listed on Friday, August 9 disappointing investors as it got listed at par with the issue price of Rs 76. However, later during the day, the stock surged 20% to hit an upper circuit high of Rs 91.20 on NSE The Rs 6,146 crore much-hy...

[hfe_template id='11223'] [ad_1] Engineering service provider Cyient shares plunged 9% to Rs 1724 in Friday's trade after the company posted a drop in June-quarter profit due to delays in project execution. The company reported a 23.8% sequential drop in its first-quarter net profit at Rs 144 crore. On a year-on-year (YoY) basis, the profit for the Hyderabad-based firm declined 18.6%. Also Read: HCL Technologies, HDFC Life among 10 stocks that earned upgrades in last 1 month Unlike the previous quarter when the firm saw deal wins from Airbus and Deutsche Aircraft, the ER&D (engineering and research and development) firm’s revenue was impacted by greater-than-anticipated delays and right shifts in project execution in the connectivity segment. Its Q1 revenue was down 0.6% YoY and 9.9% sequentially at Rs 1,675.7 crore.The company's DET (Digital, Engineering, and Technology) segment, which accounts for more than 80% of the firm’s revenue, clocked Rs 1,414 crore ...

[hfe_template id='11223'] [ad_1] Shares of SBI Life climbed 3% to hit a 52-week high at Rs 1,684 in Thursday's trade on BSE after the firm reported a standalone net profit of Rs 520 crore for the first quarter ended June 2024. This is a growth of 36% from Rs 381 crore posted in the same quarter last year. Meanwhile, the net premium income for the reporting quarter increased 15% YoY to Rs 15,105 crore, compared with Rs 13,104 crore in the corresponding quarter of last year. The income from investments during the quarter increased 32% YoY to Rs 19,283 crore. It was Rs 14,579 crore in the year-ago quarter. The first year premium for the June quarter jumped 19% YoY to Rs 3,146 crore against Rs 2,637 crore in the same quarter last year. The new business for the April-June 2024 period increased 13% YoY to Rs 7,030 crore, while the renewal premium was up 16% YoY to Rs 8,540 crore.SBI Life saw strong growth in 49th month and 61st month persistency in the first quarter by 259...

[hfe_template id='11223'] [ad_1] Ashok Leyland on Thursday reported a 9% year-on-year (YoY) decline in its standalone net profit at Rs 526 crore for the first quarter ended June 2024. It was Rs 576 crore a year ago. The profit missed the ET Now Poll estimate of Rs 596 crore. The company said profit decline was mainly due to one-time tax implication of an exceptional item. Revenue from operations increased 5% YoY to Rs 8,599 crore in the reporting period, compared with Rs 8,189 crore in the corresponding period of last year. EBITDA for the quarter rose 11% YoY to Rs 911 crore in the April-June 2024 period as against Rs 821 crore in the first quarter of previous year. The company said it continued to see strong demand in all its business units. While Ashok Leyland achieved its highest-ever-first-quarter CV volumes, the power solutions, aftermarket, defence business, and international operations also contributed strongly to the top line. "The efforts on product and net...

[hfe_template id='11223'] [ad_1] After ending six consecutive weeks with a gain, Nifty is now caught between the expectations around Budget and the ongoing earnings season. While Sensex ended 0.65% higher during the week, the BSE Smallcap index ended 0.26% lower. "There is a mix of anxiety and excitement in the market due to the muted Q1FY25 earnings forecast and the expectation of a growth-oriented budget. On the other hand, the guidance of a strong GDP for FY25 evoked investor sentiment," said Vinod Nair, Head of Research, Geojit Financial Services. Here are key factors to track this week: 1) Budget expectations The budget is expected to maintain the fiscal deficit and borrowing targets the same as the February interim Budget. "There could be some positive announcements on allocations towards the rural economy. Also, tax benefits for the lower income brackets may be possible. Focus on capital expenditure is also expected to continue with increasing centr...

[hfe_template id='11223'] [ad_1] After ending six consecutive weeks with a gain, Nifty is now caught between the expectations around Budget and the ongoing earnings season. While Sensex ended 0.65% higher during the week, the BSE Smallcap index ended 0.26% lower. "There is a mix of anxiety and excitement in the market due to the muted Q1FY25 earnings forecast and the expectation of a growth-oriented budget. On the other hand, the guidance of a strong GDP for FY25 evoked investor sentiment," said Vinod Nair, Head of Research, Geojit Financial Services. Here are key factors to track this week: 1) Budget expectations The budget is expected to maintain the fiscal deficit and borrowing targets the same as the February interim Budget. "There could be some positive announcements on allocations towards the rural economy. Also, tax benefits for the lower income brackets may be possible. Focus on capital expenditure is also expected to continue with increasing centr...