Page 421 - Markets

Wonderla Holidays surges 13%, nears 52-week high on strong Q3 results

The management said the significant boost in the number of visitors was due to the increase in domestic tourism, walk-in customers and the revival of student excursion trips

Allegations made by Binance 'false and unsubstantiated', says WazirX

This comes just days after Binance gave an ultimatum to Zanmai Labs, the parent company of WazirX, to not spread 'false claims' and stop using Binance's wallets by February 3

Rupee appreciated 4 paise to 82.66 against US dollar in early trade

The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities ahead of the Reserve Bank of India's monetary policy decision. However, investors remained concerned over rising crude prices in the overseas markets and persistent foreign capital outflows, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.67 against the dollar, then inched higher to 82.66, a rise of 4 paise over its last close. In early deals, it was moving in a close range of 82.66-82.67. On Tuesday, the rupee rose 6 paise to close at 82.70 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.10 per cent to 103.33. Brent crude futures, the global oil benchmark, advanced 0.18 per cent to USD 83.84 per barrel. The Reserve Bank of India's monetary policy decision on Wednesday will be closely watched by investors for furt

Here's why Vinay Rajani is bullish on Dr Reddy's, Oracle Financial Services

As per the technical analyst, the Budget session high of 17,973 and low of 17,353 have become crucial levels to watch out for any directional move in the Nifty index

Sell-off in bank stks amid Adani fiasco provides good entry point: Analysts

Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained

Ambuja Cements reports 46% rise in profit to Rs 328.9 crore in Q3FY23

Ambuja Cements Q3 results: The revenue from operations of the company rose 10 per cent to Rs 4,128.5 crore from Rs 3,739.9 crore a year ago

Stock exchanges up scrutiny of traders whose exposure exceeds income

NSE asks asked brokers to check for suspicious transactions as derivative activity surges

GlaxoSmithKline Pharmaceuticals net profit rises 9.45% to Rs 165 cr in Q3

GlaxoSmithKline Pharmaceuticals Ltd on Tuesday reported a 9.45 per cent rise in consolidated net profit at Rs 164.56 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 150.35 crore in the same quarter last fiscal, GlaxoSmithKline Pharmaceuticals (GSK Pharma) said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 802.3 crore as against Rs 815.92 crore in the year-ago period, it added. Total expenses were lower at Rs 590.1 crore compared to Rs 636.56 crore in the corresponding quarter last fiscal. "General medicines portfolio grew by 10 per cent led by anti-infectives and dermatology therapies...Vaccine sales were down for the quarter in a declining self-pay vaccines market. However, we continue to gain market share for key vaccine brands," GSK Pharma Managing Director Bhushan Akshikar said. During the quarter, he said, the National List of Essential Medicines (NLEM), 2022

Emerging market currencies to gain on better economic outlook: Reuters poll

Emerging market currencies expected to drift higher in coming months due to improved global growth prospects, boosted in part by the reopening of China's economy, a Reuters poll found

Bharti Airtel Q3 net profit jumps 91% to Rs 1,588 cr; ARPU rises to Rs 193

Telecom operator Bharti Airtel on Tuesday reported a 91.5 per cent year-on-year rise in consolidated net profit to Rs 1,588 crore for the October-December quarter of 2022-23. Total revenue rose nearly 20 per cent year-on-year to Rs 35,804 crore in the December quarter (Q3FY23) "backed by strong and consistent performance delivery across the portfolio", the company said in a statement. Its consolidated net income (after exceptional items) stood at Rs 1,588 crore for the just ended quarter, translating into an increase of 91.5 per cent year-on-year. The consolidated net income (before exceptional items) at Rs 1,994 crore, was up by 147 per cent year-on-year, it added. Bharti Airtel Managing Director Gopal Vittal said the company delivered another quarter of consistent and competitive growth across businesses. "Revenue grew sequentially by 3.7 per cent, while EBITDA margin expanded to 52 per cent. Our strategy of winning quality customers has helped us add 6.4 million 4G customers and

Balaji Amines slips 6%, hits 52-week low on disappointing Q3 results

The company said the fall in operating margin was primarily on account of de-growth in pharma and API sector

Stock of this smallcap company has zoomed 58% in 6 days on strong Q3 result

In the past 9 months, the stock of Apar Industries has skyrocketed 245 per cent

Paytm hits over 3-mth high; surges 28% in 2 days on improved Q3 performance

Paytm reported adjusted Ebitda breakeven three quarters ahead of management's initial guidance of September 2023

Adani Transmission, Adani Wilmar, NDTV snap 8-day losing streak, surge 5%

Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), ACC, Ambuja Cements, and Adani Green Energy, too, rallied in the range of 2 per cent to 7 per cent

Most Adani group stocks continue to fall; combined market cap declines

Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report. Forex traders said the Hindenburg Research report has soured market mood towards Adani Group stocks, leading to a sharp decline in the stock prices. At the end of Monday's trading session, six of the 10 Adani group companies ended in the negative territory, with Adani Transmission slipping 10 per cent, while the shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar declined 5 per cent each. Shares of Adani Enterprises closed for the day at Rs 1,572.40, down 0.74 per cent over its previous close. Four of the Adani group companies defied the trend and settled in the positive territory with Adani Ports and Special Economic Zone closing higher by 9.46 per cent, Ambuja Cements (up 1.54 per cent), ACC (up 2.24 per cent) and NDTV (up 1.37 per cent). "The A

Reliance Capital lenders approach NCLAT over 2nd round of auction

Reliance Capital lenders have approached the National Company Law Appellate Tribunal (NCLAT) to seek a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital has filed an appeal before the appellate tribunal. The petition has been listed before the bench headed by Chairman Justice Ashok Bhushan for hearing on Tuesday. Earlier on February 2, the Mumbai bench of the National Company Law Tribunal (NCLT) had ruled against holding a fresh round of auction for the takeover of Anil Ambani-promoted Reliance Capital and said the challenge mechanism for financial bids has already concluded. It upheld the plea by Torrent Investments' plea challenging bankers' decision to go for the second round of auctions in pursuit of higher value for the bankrupt company. NCLT in its order said the bench allows Torrent Investment's application and decla

JK Paper Q3 profit more than doubles to Rs 329 cr on robust demand

JK Paper Ltd reported its profit more than doubled in the third quarter, on the back of higher demand for copier papers and packaging boards from schools and offices post-pandemic

Adani Transmission net up nearly 73% to Rs 478 cr in Q3 on higher revenue

Adani Transmission Ltd (ATL) on Monday posted a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues. The consolidated net profit of the company was Rs 277 crore in the quarter ended on December 31, 2022. The consolidated revenue increased to Rs 3,037 crore in the third quarter of FY2022-23 from Rs 2,623 crore in the same period a year ago. Consolidated PAT reported a strong upside of 73 per cent, aided by a one-time income of Rs 240 crore from a regulatory order, a company statement said. Adani Transmission MD Anil Sardana said, "ATL's growth trajectory remains firm despite the challenging macroeconomic environment. Our pipeline of projects and recently operationalised assets will further strengthen our pan-India presence and consolidate our position as the largest private sector transmission and distribution company in India." Adani Transmission is the country's largest

Adani Enterprises' stock price has 40% more downside: NYU professor

The so-called price-to-earnings ratio for the stock has surged from 15 times earnings in the five years to 2021 to 214 times in the last two years, the professor wrote

IndiGo Q3: Focus on international destinations lifts outlook, say analysts

IndiGo's international business during the quarter stood at 105 per cent compared to pre-Covid levels