Reliance Strategic Business Ventures Ltd (RSBVL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), said on October 28 that it has acquired an additional stake in skyTran Inc, the company announced. The stake acquired for $15 million (Rs 123.4 crore) takes Reliance Strategic Business Ventures’ total shareholding to 62.83 percent on a fully diluted basis.
skyTran, incorporated under the laws of Delaware, US, in 2011 “developed breakthrough passive magnetic levitation and propulsion technology for implementing personal transport systems aimed at solving the problem of traffic congestion globally”. In February 2021, the Reliance unit increased its stake in skyTran to 54.46 percent from 26.3 percent with an investment of $26.76 million. On October 10, Adani Group Chief Financial Officer Jugeshinder ‘Robbie’ Singh detailed the growth plans of the group, which started off as a trader in 1988 and expanded rapidly into ports, airports, roads, power, renewable energy, power transmission, gas distribution, and FMCG and more recently into data centers, airports, petrochemicals, cement, and media, at an investor meet organized by Ventura Securities Ltd in New Delhi. The group plans to invest USD 50–70 billion in green hydrogen business and another USD 23 billion in green energy over the next 5–10 years, he said. It will invest USD 7 billion in electricity transmission, USD 12 billion in transport utility, and USD 5 billion in the road sector. Its foray into data center business with cloud services would entail an investment of USD 6.5 billion in partnership with Edge ConneX and another USD 9–10 billion is planned for airports, where it is already the largest private operator. Its foray into the cement sector with the acquisition of ACC and Ambuja cement entailed USD 10 billion investment. Stocks Nse Indian Stocks Bse Stocks India Stock market Today Stock Price Nse Stock Market Stock Market TodayStock Market TodayStock Market TodayStock Market TodayStock Market Today
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Bharat Electronics | CMP: Rs 107.90 | The company reported a decent set of earnings for the quarter ended September FY23. Standalone revenue from operations grew by 7.8 percent year-on-year to Rs 3,946 crore, led by healthy order book execution. The Navratna defence PSU company said its order book position as on October 1, 2022 stood at Rs 52,795 crore. “Order book at 3.1 times its TTM (trailing twelve month) revenue provides a healthy revenue visibility” said Reliance Securities. The stock ended 2.71 percent higher.
PNB Housing Finance | CMP: Rs 453.55 | The share price of PNB Housing Finance surged after the company reported an 11.7 percent YoY rise in its Q2 net profit at Rs 266.6 crore versus Rs 235.2 crore. Net interest Income was up by 36.2 percent at Rs 633.7 crore versus Rs 465.1 crore, YoY. The stock gained 5.18 percent in trade. Crompton Greaves Consumer Electricals | CMP: Rs 367.20 | The company on October 26 reported a 17.69 percent decline in its consolidated net profit to Rs 130.71 crore in Q2FY23, mainly due to weak consumer demand. The company posted a net profit of Rs 158.81 crore in the July-September quarter a year ago. “We had a difficult quarter owing to an unfavourable base period and high retail inflation creating weak consumer demand,” the company said in its earnings statement. The stock declined 2.83 percent on October 27. Century Textiles | CMP: Rs 872.10 | The stock gained 7 percent after the company reported a strong set of Q2FY23 numbers. It reported a 59.38 percent YoY rise in consolidated net profit at Rs 69.97 crore for the September quarter. Total income from operations rose to Rs 1,242.11 crore from Rs 1,034.27 crore in the corresponding period of the previous year. Stocks India Share Market Bse Stocks To Buy Today India Open Demat Account Bse Stock Market Nse Equity US stocks closed sharply higher on Tuesday as soft economic data hinted that the Fed’s aggressive policy is taking effect, while falling benchmark Treasury yields boosted the rally’s momentum. All three major US stock indexes advanced for the third straight session, with market-leading megacaps providing the most upside muscle. The S&P 500 has reclaimed about 8 percent from the trough of its October 12 close.
“There’s increasing discussion about a light at the end of the tunnel for Fed rate hikes,” said Bill Merz, head of capital market research at U.S. Bank Wealth Management in Minneapolis. Merz also cautioned that it wouldn’t be known for some time whether decades-high inflation was “decisively headed toward the Fed’s target.” “We’re seeing a bit of a reprieve in the dollar and long-term bond yields have come down a little bit,” Merz added. “Those factors are combining to provide room for a bit of a rally.” After the bell, Microsoft and Alphabet delivered weaker-than-expected quarterly results, sending their shares down about 7 percent. That helped push S&P 500 mini futures down almost 1 percent, suggesting traders expect the stock market to open deep in negative territory on Wednesday. Share Market Today Stock Market Today Share Trading Equity Market Share Market Price Bse Stock Exchange RIL | CMP: Rs 2441.80 | The share price of oil-to-telecom major Reliance Industries dropped 1.5 percent. On October 21, the company reported a marginal drop in consolidated net profit at Rs 13,656 crore for the quarter ended September 30, 2022 as against Rs 13,680 crore in the year-ago quarter. HSBC has a “hold” call on the stock, with the target cut to Rs 2,500. “We cut refining margin assumptions, resulting in FY23–25 estimate declining 3–7 percent,” the brokerage noted. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
The market failed to capitalise on the strong start to Samvat 2079, the Hindu calendar year, on Diwali day to end lower on October 25, snapping a seven-session winning streak. At close, the Sensex was down 287.70 points, or 0.48 percent, at 59,543.96, and the Nifty was down 74.50 points, or 0.42 percent, at 17,656.30. After a positive start, the market erased the gains and turned negative, as an extended last-hour selling dragged the indices near the day’s low. The domestic market pared its early gains with FMCG and private banks pressuring the benchmark. Market attention has shifted to central bank policy announcements since the European Central Bank is expected to hike interest rates at its upcoming policy meeting,” said Vinod Nair, Head of Research at Geojit Financial Services Equity Trading Top Stocks Nse Equity Stock Best Us Stocks To Buy Now Best Share To Buy Today In India Shares Today ICICI Bank, the country’s second-largest private sector lender, on October 22 registered a massive 37 percent year-on-year growth in standalone profit and a 26.5 percent rise in net interest income, with a significant fall in bad loan provisions.
The standalone profit jumped to Rs 7,557.84 crore for the quarter, rising from Rs 5,511 crore in the same period last year, the bank said in its BSE filing. The bank further said its net interest income during the quarter increased to Rs 14,787 crore, compared to Rs 11,690 crore in the corresponding period last fiscal, with net interest margin expanding around 30 bps on a sequential as well as an on-year basis. Overall loan portfolio grew by 23 percent year-on-year, with domestic loan portfolio growth at 24 percent,” ICICI Bank said, adding total period-end deposits grew by 12 percent year-on-year to Rs 10.9 lakh crore in September FY23, with average current account and savings account (CASA) ratio of 45 percent in the same period. Stock Market Today Share Market Today Bank Nifty Option Indian Stock Market Trading India Share Market Shares To Buy Today Private sector lender Kotak Mahindra Bank on October 22 reported a 27 percent growth in standalone profit after tax (PAT) as well as net interest income (NII) for the quarter that ended September 30, 2022.
The standalone profit increased to Rs 2,581 crore during the quarter, up from Rs 2,032 crore in the corresponding period of the last fiscal, the Mumbai-headquartered bank said in its BSE filing. Net interest income, the difference between interest earned and interest expended, climbed to Rs 5,099 crore from Rs 4,021 crore in the year-ago period, with the net interest margin expanding 72 basis points (bps) year on year (YoY) to 5.17 percent for Q2FY23. Kotak Mahindra said it recorded a 25 percent YoY growth in customer asssets, which includes advances and credit substitutes, at Rs 3.21 lakh crore as of September 2022, with advances also growing over 25 percent to Rs 2.94 lakh crore in the same period. Deposits rose by 11.5 percent to Rs 3.25 lakh crore YoY. Stock Market Today Share Market Today Bank Nifty Option Indian Stock Market Trading India Share Market Shares To Buy Today Indian benchmark indices ended marginally higher in yet another volatile session and extended the positive momentum for the fifth consecutive session on October 21 amid buying seen in the financials. At Close, the Sensex was up 104.25 points or 0.18% at 59,307.15, and the Nifty was up 12.30 points or 0.07% at 17,576.30.
In the Samvat 2078, BSE Sensex fell over 1 percent, while Nifty 50 shed nearly 2 percent. The domestic market started on a negative note amid weak global cues and stayed in negative territory for the most part of the session. However, last-hour buying helped the indices to close near the day's high level. "Selling emerged in the second half led by a weak start to the European market due to the fear of tight monetary policy. Domestic investors maintained their caution and began to book profits in anticipation of the truncated week," said Vinod Nair, Head of Research at Geojit Financial Services. Telegram Channel for Bank Nifty Stock Market Today Share Market Today Trading India Bank Nifty ACC shares fell nearly 2 percent on Tuesday as the company has posted losses in the quarter ended September 2022. ACC on October 17 reported a standalone loss of Rs 91 crore for the quarter, as against a post-tax profit of Rs 449 crore a year back, while it had posted a net profit of Rs 222 crore in the June quarter this year. The company recorded a 7 percent rise in net sales at Rs 3,910 crore as compared to Rs 3,653 crore in the same quarter last year. EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 16 crore against Rs 713 crore last year, impacted largely due to a steep rise in fuel cost. Morgan Stanley has maintained ‘underweight’ rating on the stock and cut the target price to Rs 1,950 from Rs 2,050 per share. The company’s EBITDA fell sharply, coming in well below estimate on weaker-than-expected costs. “We have revises estimates to reflect the miss. We have maintained relative underweight call given lower growth expectations versus peers,” reported CNBC-TV18. ACC was quoting at Rs 2,231.35, down Rs 38.35, or 1.69 percent on the BSE. For More Such News Join Our Blog. Stock Market Today Indian Stock Market Market today share trading equity market Shares of Jewellery and watchmaker Titan Company zoomed in the early trade on October 7, after the firm reported strong growth in sales for September quarter, springing a positive surprise for investors. “The Company witnessed healthy double-digit growth across most businesses with overall sales growing 18 percent YoY (year-on-year),” Titan said in a regulatory filing. At 9:56am, the stock was trading 5.18 percent higher at Rs 2728 apiece on the BSE, while the benchmark Sensex was at 58,132.09, down 90.01 points or 0.15 percent.
The jewellery division of the company grew 18 percent YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid disrupted Q1FY22. Gold jewellery clocked low double digit growth whereas studded sales were higher than the overall division driven by good activations and better contribution from high value purchases, the company said. The watch business grew 20 percent YoY, clocking its highest quarterly revenue. Titan said the strong tailwind demand led by a desire to own more premium watches helped the brand grow fastest in the watches category, assisted by higher volume and average selling prices YoY. The company’s eyecare business grew 7 percent and other businesses that includes sarees and perfumes grew 58 percent compared to the last year. In its outlook for festive season, Titan said it continues to be optimistic and positivity is visible in consumer sentiment across categories. Open Demat Account |
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