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[hfe_template id='11223'] [ad_1] Nvidia reduced its stake in British chip firm Arm Holdings by about 44% and exited its holdings in Serve Robotics and SoundHound AI in the fourth quarter, a regulatory filing showed on Friday. The artificial intelligence chip giant also reported a position of 1.7 million shares in China's self-driving startup WeRide Inc, sending its shares up 135% at open. The stocks was later trading at $14.73, up 85% at 11.14 am. WeRide uses Nvidia's advanced graphics processors and AI software to power its vehicles and had a market valuation of $4.71 billion as of the last closing. Nvidia was an early investor in WeRide. Investors closely monitor Nvidia's stake disclosures as they can influence the stock prices of companies it invests in or divests from while providing insights into the growth strategy of the dominant artificial intelligence chip designer. "There is no greater vote of confidence than Nvidia taking a stake in your co...

[hfe_template id='11223'] [ad_1] Home First Finance is expected to see a block deal on Monday worth Rs 1,267 crore where 14.7% stake is likely to be on offer. The sellers are likely to be promoter entities True North Fund V LLP (Warburg Pincus) and Aether (Mauritius) Limited along with a non-promoter Orange Clove Investments B.V., a CNBC TV18 report said. The floor price has been kept at Rs 968 apiece which is a discount of 8% over the current market price, the report said citing sources. Kotak and Nomura are acting as the brokers for this transaction, the report said further. Shares of Home First Finance today ended at Rs 1056.95 on the NSE, down by Rs 37.20 or 3.40% over the previous closing of Thursday. True North Fund's holding in the company as on September 30, 2024 stood at 14.07 while Aether held 9.31% stake as on this date. Meanwhile, Orange Clove held 22.90% in the Mumbai-based company. The market capitalisation of Home First, a smallcap stock is Rs 9,431.83...

[hfe_template id='11223'] [ad_1] Foreign direct investment (FDI) equity inflows into India rose 43.1% on-year to $13.6 billion in July-September this fiscal, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) Friday showed. FDI inflows were $9.5 billion in the year ago period. Total FDI, which includes equity inflows, reinvested earnings and other capital, grew 29.4% on-year to $19.8 billion in the second quarter of FY25. As per the data, August saw the highest FDI in the quarter at $6.3 billion from $2.9 billion a year ago. FDI equity inflows had grown 47.8% on-year to $16.17 billion in April-June this fiscal. As per the data, FDI equity inflows have risen 45% in the first half of the fiscal at $29.7 billion with Singapore being the top source of investment followed by Mauritius. Singapore invested $7.5 billion while Mauritius invested $5.3 billion in April-September FY25.Among sectors, maximum inflows were seen in services, computer so...

[hfe_template id='11223'] [ad_1] Shares of Go Digit General Insurance rallied 8% on Friday to a day’s high of Rs 362.25 on the BSE after the company posted a 74% increase in net profit for the quarter ended June 30, 2024, at Rs 101 crore, compared to Rs 58 crore reported in the same period last year. The gross written premium for the reported quarter was Rs 2,660 crore, marking a 22% increase over Rs 2,178 crore reported in the corresponding quarter of the previous financial year. The assets under management for the April-June 2024 quarter were Rs 17,773 crore. The company offers motor, health, travel, property, marine, liability, and other insurance products. In its filing to the exchanges, the company stated that its overall market share was 3.6%, while its share in the motor insurance segment was 6% at the end of the reported quarter. The company has launched 80 active products since 2017.The company reported a PAT of Rs 53 crore for the fourth quarter, reflecting a 1...

[hfe_template id='11223'] [ad_1] India's largest software services firm Tata Consultancy Services (TCS) reported a sequential 3.16% drop in net profit in the June quarter due to the impact of wage hikes for many of its 600,000-plus workforce and an unabated slowdown in demand. TCS posted a net profit of ₹12,040 crore, below analyst expectations but 8.7% up from last year. It reported revenue of ₹62,613 crore, up 5.4% from a year ago and 2.25% sequentially. The company didn't signal any significant uptick in technology services demand, which has hit an all-time low due to macroeconomic uncertainties and geopolitical strife that's impacted the US, the UK and Europe markets. ETMarkets.com Growth Driven by AI, Cloud, IoT Much of the incremental growth came from the Rs 15,000 crore deal with state-owned telco Bharat Sanchar Nigam Ltd (BSNL) signed last year that led to its India business showing a jump of 61.8% from the year earlier. While chief executive K Krit...

[hfe_template id='11223'] [ad_1] Rekha Jhunjhunwala, wife of late ace investor, Rakesh Jhunjhunwala likely earned a dividend income of Rs 224 crore for the quarter ended March 2024 from her portfolio estimated to be worth Rs 37,831 crore. Going by March quarter shareholding pattern, Jhunjhunwala earned a dividend income of Rs 52.23 crore from Titan Company, Rs 42.37 crore from Canara Bank, Rs 27.50 crore from Valor Estate, Rs 17.24 crore from NCC and Rs 12.84 crore from Tata Motors among others. Other companies where Jhunjhunwala holds a stake are CRISIL, Escorts Kubota, Fortis Healthcare, Geojit Financial Services, The Federal Bank among others which have fetched nearly Rs 72.49 crore worth of dividend income for the fourth quarter of FY24, according to Ace Equity data. The dividend income has been calculated as per the shareholding pattern available with the exchanges as of March 2024. Also read: Suzlon Energy shares give multibagger returns of 340% in 1 year. Time to ...

[hfe_template id='11223'] [ad_1] Shares of Zee Entertainment rose 5% on Saturday on BSE to the day’s high of Rs 141.65 after the company on Friday reported a profit for the March quarter against loss a year ago. Zee on Friday reported a net profit of Rs 13.35 crore for the quarter ended March 2024, compared with a loss of Rs 196 crore in the same quarter of last year. The total income in the reporting quarter increased 3% year-on-year to Rs 2,185 core. ZEE has said that it will see most of the one-time higher costs towards implementing the interventions in the current quarter, offsetting underlying operating performance improvements and causing softness on margins. Also read: JSW Steel shares fall over 2% after Q4 result disappoints Here’s how brokerages view the results: Goldman Sachs The partial recovery in revenues was appreciable. However, margins remained subdued coupled with a weak EBITDA margin profile at 9.7% for the fourth quarter. Goldman has cut its fY25-27 re...

[hfe_template id='11223'] [ad_1] Shares of TVS Motor Company surged nearly 6% on Thursday on BSE to the day’s high of Rs 2,121.30 as the company reported an 18% year-on-year (YoY) increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024. TVS Motor Company’s revenue from operations in the quarter under review grew 24% YoY to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023 while Overall, two-wheeler and three-wheeler sales, including exports, grew by 22% to 10.63 lakh units in the quarter ended March 2024. Here’s how brokerages view the stock post Q4 results: Jefferries The stock is scaling to new highs and the growth momentum seems to continue as India’s 2-wheeler industry is poised for strong growth while exports are also recovering, said Jefferies. The company’s margins are improving and the EPS has more than trebled in the last 3 years and is expected to more than double in the next 3 years. Je...

[hfe_template id='11223'] [ad_1] CarTrade Tech shares jumped 14% to the day's high of Rs 857.80 on the NSE on Monday after the multi-channel auto platform reported its highest ever revenue of Rs 161 crores for the quarter ended March 31, 2024, registering a 38% year-on-year growth. The profit after tax (PAT) for the reported quarter stood at Rs 24.97 crores, resulting in YoY growth of 43%. In Q4FY23, the company had reported a consolidated revenue of Rs 116 crore while the PAT was reported at Rs 17.49 crore. For the full financial year the revenue stood at Rs 555.23 crore recording a 30% YoY jump while the net profit was at Rs 82.13 crore which was a 103% growth. The adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the quarter stood at Rs 49.11 crores resulting in growth of 23% over the corresponding period of the last financial year. Adjusted EBITDA for FY24 was at Rs 164.74 crores, resulting in a YoY growth of 32%. The company cl...