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[hfe_template id='11223'] [ad_1] If the Q2 earnings season, the worst since June 2020, was not enough, stock market investors are now dealing with another headache after the Q2 GDP growth of 5.4% was at its lowest in the last seven quarters. With Sensex and Nifty already down 7-8% from their peaks amid record-breaking pullout by FIIs, brokerages are now lowering the India GDP targets which may eventually start reflecting on the equity market outlook as well. Goldman Sachs has lowered India's real GDP growth estimates for FY25 by 40 basis points to 6%, while Nomura has lowered it from 5.7% to 6%. UBS has also reduced its estimate of real GDP growth to 6.3%, while Citi has lowered it to 6.4% YoY vs 7% earlier. In the near term, analysts say that the Q2 GDP shocker of 4% will weigh on markets, but the impact is unlikely to be significant since part of the declining growth was factored in by the market after the disappointing Q2 results. "We do not see the case for ...

[hfe_template id='11223'] [ad_1] India's largest public sector lender State Bank of India (SBI) shares in focus today after the bank beat earnings estimates by a wide margin, reporting a profit of Rs 18,331 crore, up 28% year-on-year (YoY). An ET Now poll had estimated the profit to be around Rs 15,550 crore. Net interest income for the quarter rose 5% YoY to Rs 41,620 crore, compared to Rs 39,500 crore in the same period last year. The pre-provision operating profit increased 51% YoY to Rs 29,294 crore in the July-September 2024 period, compared with Rs 19,417 crore in the corresponding period last year. The NII growth, which was largely in line with estimates, is slower than the average loan growth due to the rise in the cost of deposits outpacing the yield on advances. Should you buy, sell, or hold SBI's stock? Here's what analysts say: CLSA CLSA maintained an 'Outperform' rating on SBI with a target price of Rs 1,075.The report highlights that loa...

[hfe_template id='11223'] [ad_1] With rich valuations and slowing corporate earnings spoiling a festive October, Dalal Street is ending Diwali month as the worst one since 2020's market crash during Covid amid record FII outflow that has crossed the Rs 1 lakh mark in the secondary market. "India has been underperforming in October with Nifty down 5.7%, when markets in the US and Japan have delivered positive returns and China and Hong Kong have hugely outperformed. India’s underperformance is driven by lofty valuations, relentless FII selling, and concerns over slowing earnings growth. In the near term, this scenario is unlikely to change, reversing the trend decisively, even though mild pullbacks are possible," said Dr. V K Vijayakumar of Geojit Financial Services. Given the current geopolitical events and the impending US elections, analysts expect the Sensex and Nifty to deliver modest returns going forward, with large caps outperforming mid and small ca...

[hfe_template id='11223'] [ad_1] The tide is turning against India’s smaller companies as weak earnings and a souring economic outlook spur a downturn in their shares. Key gauges of small- and mid-sized companies have tumbled since hitting September highs, putting them close to a so-called technical correction of a 10% peak-to-trough decline. The Nifty Midcap 100 Index is heading for its biggest monthly drop since the pandemic, tracking losses in the broader market, while the Nifty Smallcap 250 Index is set to fall the most in more than two years. The meltdown in October, a sharp reversal from a searing rally in such stocks in the previous months, reflects wavering investor sentiment due to cooling earnings momentum. Despite the selloff, the stocks are still trading at high valuations, signaling investors may book profits and chase rallies in other markets such as China. Bloomberg “Many of high beta stocks in this segment were trading at frothy valuations and are typica...

[hfe_template id='11223'] [ad_1] Adani Group-owned Ambuja Cements' shares will be in focus on Monday as the company will announce its September quarter earnings later today. The cement maker is expected to report a 43%-61% year-on-year fall in its September quarter profit on lower realisations, according to estimates of a couple of brokerages. Meanwhile, revenue could see a flat to 3% decline over the corresponding quarter of the last financial year. Company's revenue is expected to be at Rs 7,215 crore in Q2FY25, falling by 3% and 13% on a YoY and QoQ basis, respectively, Nuvama Institutional Equities said in a brokerage note. The core profit after tax (PAT) is expected to be around Rs 564 crore, witnessing a 43% and 29% YoY and QoQ decline. Its Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) figures are estimated at Rs 938 crore, which is a likely 28% YoY and 27% QoQ downtick. "Volumes are expected to rise 7% YoY. Cement realisation...

[hfe_template id='11223'] [ad_1] Shares of Hindustan Unilever (HUL) are likely to remain in focus on Thursday following a 4% fall in its standalone net profit for the quarter ended September 2024 to Rs 2,612 crore versus Rs 2,717 crore posted in the year-ago period. On Wednesday the FMCG major reported revenue from operations at Rs 15,319 crore, which was up 2% over Rs 15,027 crore reported in the corresponding quarter of the previous financial year. The company has declared a total interim dividend of Rs 29 per equity share. The record date has been fixed as November 6, and the dividend will be paid to shareholders on November 21. The PAT and revenue figures were below ET NOW poll estimates of Rs 2,657 crore and Rs 15,792 crore, respectively. Also Read: Catch All Sensex Today Live Updates Here The company declared that its board of directors has decided to separate the ice cream business. The board’s decision to separate the business is in line with the recommendations ...

[hfe_template id='11223'] [ad_1] Shares of Jio Financial will be in focus in Friday's trade as the company will announce its second quarter earnings later today. In the run up to the results, shares of Jio have been muted with a fall of over 6%. In the last five days, the stock sinked nearly 4% amid an overall bearish trend in the markets. In the first quarter, the company's consolidated net profit fell 6% year-on-year to Rs 313 crore from Rs 332 core a year ago mainly due to a fall in interest income and amidst an uptick in operating expenses. Total revenue from operations for the June quarter quarter stood at Rs 418 crore, higher by 0.9% year-on-year. Recently, the company's joint venture with Blackrock got in-principle approval from markets regulator Sebi. The regulator will have to eventually grant the final approval after the two companies fulfil certain requirements. Days after its demerger from Reliance Industries in July 2023, the company had announce...

[hfe_template id='11223'] [ad_1] Shares of Wipro will be in focus on Friday following IT major's July-September quarter earnings where the company reported a 21% jump in net profit to Rs 3,209 crore for the quarter ended September 2024 versus Rs 2,646 crore logged in the year-ago period. The figure was higher than ET Now poll estimates of Rs 3,050 crore. Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower over Rs 22,516 crore posted in the corresponding quarter of the previous financial year. Gross revenue was at Rs 22,300 crore ($2,662.6 million), an increase of 1.5% QoQ and a decrease of 1% YoY. IT services segment revenue was at $2,660.1 million, an increase of 1.3% QoQ and a decrease of 2% YoY. Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY. “We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million,” Wipro said in a compa...

[hfe_template id='11223'] [ad_1] After rallying over 18% the previous day, shares of Angel One surged 5.3% to Rs 3,394 in Wednesday's trade on BSE after the company on Tuesday reported its best-ever quarterly performance across key financial metrics in the three month period ended September 30, 2024. The domestic brokerage on Monday reported a consolidated net profit at Rs 423 crore in Q2FY25, which was up 39% from Rs 304 crore reported by the company in the year ago period. The total revenue from operations in the reported quarter stood at Rs 1,515 crore which was up 44.5% over Rs 1,048 crore reported by the company in the corresponding quarter. Additionally, Angel One added 30 lakh clients in Q2FY25, representing a 15.9% quarter-on-quarter growth, bringing its overall client base to 27.5 million, which is an 11.2% increase on a quarter-on-quarter basis. The overall Average Daily Turnover (ADTO) on a notional basis stood at Rs 45.4 lakh crore in Q2FY25, compared to ...

[hfe_template id='11223'] [ad_1] Tata Elxsi shares rose 2.8% on Friday to day's high of Rs 7,980.30 on BSE after the company reported a 14% growth in its consolidated net profit, reaching Rs 229 crore for the second quarter, compared with Rs 200 crore in the same quarter last year. Its revenue from operations during the same period increased 8% year-on-year to Rs 955 crore, up from Rs 882 crore in the same quarter last year. On a sequential basis, profit rose by 27%, while revenues were up 3% quarter-on-quarter. The company’s operational efficiency, offshore delivery, fiscal discipline, and differentiated offerings have contributed to its EBITDA margins expanding by 70 basis points to 27.9% for the quarter. "Our strategic focus on expanding our business in Japan, emerging markets, and capitalising on the India opportunity, is now starting to significantly contribute to our growth," said Manoj Raghavan, CEO and Managing Director, Tata Elxsi. During the quart...

[hfe_template id='11223'] [ad_1] Amid rising fears of a surge in crude oil prices due to tensions in West Asia and the FII outflow of money towards China, the stock market has been falling incessantly for the last five days and recorded its worst week in over two years. "The drag was across sectors led by realty, auto, and FMCG except IT stocks, which gained due to expected benefits from US rate cuts and defensive nature. The pessimism on the market is expected to continue in the near term amidst rising crude prices and fund flows to cheaper markets like China," said Vinod Nair, Head of Research, Geojit Financial Services. Analysts expect the market to consolidate amid cautiousness due to fear of geopolitical tensions and FII selling. Here are the key factors that will decide action on Dalal Street: 1) FII mood A 'Buy China, Sell India' trade is getting played out in emerging markets as FIIs have sold Indian stocks worth around Rs 30,718 crores in the f...