Today's stock market

FIIs and mutual funds consistently increase stakes in 12 smallcap stocks for four quarters, yielding up to 203% returns. Notable stocks include Dixon Technologies, Electronics Mart India, and Welspun Corp.

IRCON International secured a letter of award (LoA) from the National Highways & Infrastructure Development Corporation (NHIDCL) for the construction of a tunnel in Mizoram valued at Rs 630.66 crore.

Mukesh Ambani’s Jio disrupted the market in 2016 with cheap 4G data services, sparking a price war that reshaped the sector into a near-duopoly dominated by Jio and Bharti. Average revenue per user plunged, burdening telecom operators with massive debts.

The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.

UltraTech Cement Q4 Preview: UltraTech Cement is anticipated to see an 18% YoY net profit increase to Rs 1,962 crore in Q4FY24, with revenue reaching Rs 20,057 crore, up 8.50% YoY.

After gaining 16-25% over the last month, shares of both Hindalco Industries and National Aluminium Co tested their lifetime highs on Friday. Shares of Vedanta, the country’s largest producer of the metal, have jumped nearly 48% in a month and are at their highest level in two years.

Pakistan\’s benchmark share index breached the key level of 73,000 to trade at a record high of 73,300 in early trade on Monday, according to data from the Pakistan Stock Exchange website.

The brokerage has reduced its pharmacy target valuation from 25x to 22x, resulting in a lower SoTP by Rs 290 per share. \”Keeping the hospital multiple intact (24x) and rolling over to FY26, our revised target price is Rs 7,300 (from Rs 7,500); we maintain ‘BUY’,\” it said.

In Q4FY24, Supreme Industries Profit After Tax (PAT) surged by 126 basis points to reach Rs 314.48 crore, compared to Rs 310.56 crore recorded in Q4FY23. Additionally, the company witnessed a 16% year-on-year growth in revenue for the quarter ended March 2024, with revenue standing at Rs 2,609.61 crore compared to Rs 2,248.28 crore in Q4FY23.

PSUs are given a status from Maharatna companies, Navratna companies, and Miniratna companies. Navratna companies can invest up to Rs 1,000 crore without prior government approval.

​European shares climbed to a two-week high on Monday, extending strong gains from last week, with investors awaiting economic data and the Federal Reserve\’s policy decision, while Deutsche Bank dropped on a provision for Postbank litigation.

Domestic indices rose on Monday amid buying action in banks and easing crude oil prices and geopolitical tensions. Global markets also lent support to sentiments back home.