US Stock Reports, Quotes and News
Vedanta\’s Q4 net profit down by over 27% YoY in March quarter. Investor sentiment remains positive with target prices raised. Chairman Anil Agarwal plans $20 billion investments in technology, electronics, and glass sectors in four years to diversify business activities.
The total consolidated revenue from operations stood at Rs 24,141 crore for the March quarter, up 20% over Rs 20,061 crore reported in the year-ago period. On a QoQ basis, the uptick was 2.4% over Rs 23,572 crore reported in Q3FY24.
88% of large cap mutual funds struggled to beat benchmarks in the last seven years, highlighting challenges post Sebi\’s introduction of total return indices. Notable underperformers include Aditya Birla SL Frontline Equity Fund, while ICICI Prudential Bluechip Fund stood out as an outperformer.
Bharti Airtel Q4 Results: Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year. Consolidated revenues were impacted by the devaluation of African currencies during the period, particularly Nigerian Naira.
Aadhar Housing Finance debuts on BSE at Rs 314.3 post a successful IPO. Leading in low-income housing finance, it has highest AUM, faces market volatility challenges, and raised funds for future lending needs through fresh equity issue and OFS post DHFL Vysya merger.
SBI PSU Fund Reg(G), a top performer in equity mutual funds, bolstered its portfolio by adding Indian Energy Exchange (IEX) shares and increasing stakes in Bank of India, LIC, NALCO, and SAIL.
Canara Bank\’s shares surged 4.6% to Rs 118.40 as the 1:5 stock split took effect, converting each Rs 10 face value share into 5 shares valued at Rs 2 each. The move aims to enhance liquidity, affordability, and broaden retail investor participation.
Oberoi Realty shares soared 7% to a 52-week high of Rs 1,629 on BSE after reporting a remarkable 64% YoY surge in net profit to Rs 788 crore for the March quarter. Revenue rose by 36.8% to Rs 1,314.8 crore, with a significant improvement in EBITDA and margin.
Pakistan\’s benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.
The bearish positions in the derivatives market have come at a time when overseas investors have pulled out about $4 billion from local stocks since early April, reflecting a cautious outlook about the outcome of the elections.
Europe\’s benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print.
Jyoti Vaswani discusses the potential of multi-billion dollar enterprises in the green energy space and its impact on equity markets. She provides insights on the US Fed moves, RBI, inflation, Q4 earnings, management commentary, Nifty performance as well as May trends. Vaswani says that since FY24 has seen a broad-based rally, FY 25 can be expected to be driven by sustained corporate earnings growth and policy continuity.