US Stock Reports, Quotes and News
162 companies to report Q4 earnings on Wednesday. Nykaa expects 24% BPC and Fashion GMV growth, while Paytm faces a revenue decline from RBI actions. Analysts also predict pressure from discounting and lower advertising income.
Paytm Q4 Results: The fintech major\’s March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank\’s products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Awfis Space Solutions IPO, with participation from anchor investors like Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund, and ICICI Prudential MF, will open for subscription at Rs 364-383/share. Analysts recommend subscribing for market leadership and reasonable valuations.
Gold futures and silver contracts stayed near all-time highs as traders awaited signals on Federal Reserve policy. The prices hovered above key levels supported by safe-haven buying and the prospect of interest rate cuts from the U.S. Federal Reserve. Bullion and U.S. gold futures held steady, while the US Dollar Index hovered near the 104.64 mark.
FIIs have sold Indian stocks worth Rs 37,700 crore since the Lok Sabha elections began on April 19, causing nervousness on Dalal Street. India VIX has increased by 67%. In contrast, DIIs have spent Rs 60,000 crore, holding strong amidst market volatility.
Shares of Aptus Value Housing Finance fell 5.56% to close at ₹298.6 on Tuesday. In the past one month the housing finance company\’s shares have fallen 6.7%.
Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
\”Margin improvement is volatile as the small impact on utilisation for its network impacts the margin as pricing power is limited,\” said the brokerage, while slashing its target price from ₹600 to ₹488.
BHEL Share Price: Bharat Heavy Electricals (BHEL) witnessed a sharp decline of up to 8% on the BSE on Wednesday, dropping to Rs 295, following the company\’s announcement of a more than 25% year-on-year decrease in its consolidated net profit to Rs 489.62 crore for the March quarter.
Suzlon Energy\’s shares surged by 5% to hit the upper circuit at Rs 46.2 on the BSE on Wednesday following reports of a block deal on the counter. Around 33.9 lakh shares of Suzlon Energy were traded in the block deal, with the identities of buyers and sellers undisclosed.
Japan\’s Nikkei share average fell 0.85% to 38,617.10 as investors awaited Nvidia\’s earnings, which will influence global stocks, including Wall Street and AI-related stocks. Chip stocks like Tokyo Electron and Advantest declined ahead of the results. The index previously hit a record intraday high and saw declines in Fast Retailing and Shin-Etsu Chemical.
Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return. Premiumization trend drives shift to \’premium\’ vehicles. UV mix in PVs at 60% in FY24. 125cc+ segment in motorcycles at 52% in FY24. Social media influences rural trends. Finance accessibility boosts premiumization. India targets net zero emissions by 2070, promoting EVs and biofuels.