Leading NBFC Bajaj Finance is expected to post healthy growth in its core earnings for the first quarter ended June 2024. Net interest income for the reporting June quarter is likely to grow 26% year-on-year, according to an average estimate of four brokerages. Profit after tax (PAT), meanwhile, is seen rising 16% year-on-year. The company’s … Read more
Mumbai: Kotak Institutional Equities said the Indian market continues to be a mix of being “rightfully optimistic and mistakenly euphoric”. The brokerage said parts of the market rightfully reflect the strength of the Indian economy and its long-term growth prospects, while the other parts reflect “extreme euphoria linked to baseless narratives.” Kotak said the market … Read more
Ashok Leyland shares zoomed nearly 6% on BSE today to their new all-time high of Rs 222.80 after reporting a 20% year-on-year (YoY) increase in its Q4 net profit at Rs 900.41 crore. Revenues from operations in the quarter under review stood at Rs 11,266.69 crore as compared to Rs 11,625.67 crore in the year-ago … Read more
Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday’s trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4. Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline’s … Read more
Shares of Honasa Consumer, which owns Mamearth, rallied 7% in Friday’s session on BSE to the day’s high of Rs 447.70 after reporting a net profit of Rs 30.4 crore for the quarter ended March 2024 against a loss of Rs 161.7 crore in the last year quarter. Honasa clocked its highest-ever profit during the … Read more
Shares of Naukri.com’s parent company Info Edge (India) jumped 8% on BSE in Friday’s trade to the day’s high of Rs 6,338.55 as the firm reported a Q4 profit of Rs 211 crore, rising 18% year-on-year (YoY). Naukri’s revenues were recorded at Rs 608.3 crore, a 7.9% growth from the same period last year and … Read more
Small cap and mid cap stocks dive! Is the correction over? Kotak Institutional Equities has said that despite a recent sharp correction, most mid-cap and small-cap stocks are still trading at high valuations and above their fundamental values. The brokerage has expressed concerns that many low-quality stocks could experience a further decline in their share … Read more
Arguing that most mid and smallcap stocks are still trading at full-to-lofty valuations and well above their fundamental value despite the sharp correction in recent weeks, Kotak Institutional Equities on Thursday said that the multi-billion dollar crash in the broader market is too little but not too soon. “We are not sure if the correction … Read more
Synopsis The operations of Disney India reveal a great deal about this. Disney’s India business contains television assets including more than 70 channels across eight languages, sports properties (cricket, football and Kabaddi), film studio, licensed merchandising, DTH player Tata Play (close to 30% stake) and streamer Disney+Hotstar. ET Intelligence Group: The merger of media assets … Read more
After clocking eight successive years of positive returns and ending 2023 with a solid 20% return, analysts predict that Nifty’s winning run may continue in the new year 2024 but with a more limited upside. Stating that the returns in 2024 will depend on the tussle between fundamentals and sentiment, Kotak Institutional Equities said in … Read more