US Stock Reports, Quotes and News
NTPC Quarter 1 Results: The total income of the company also rose by 13.5% to Rs 45,053.04 crore while its total expenses were recorded at Rs 38,276.03 crore in Q1FY25. The total expenses increased by Rs 4,748 crore on a YoY basis.
Dr. Reddy\’s Lab Q1 Results: While announcing the quarterly numbers, the company\’s board also approved split of equity shares in the ratio of 1:5, which means that 1 existing share will split into 5. The company said its revenue growth during the quarter was largely driven by growth in global generics revenues in North America as well as India.
Coal India Dividend: The company further mentioned that the payment of the dividend to the eligible equity shareholders will also be done on August 16, i.e, the record date.
Earlier in the month of May, NTPC had announced a dividend for its shareholders along with the declaration of its Q4 results for the financial year 2024.
Additionally the company has also announced that each American Depositary Share (ADS) will still represent 1 equity share. As a result, the number of ADSs held by each American Depositary Receipt holder will increase in proportion to the increase in equity shares.
The stock market showed strong recovery last week, buoyed by positive US GDP data. This week, factors such as the US Fed meeting, Q1 earnings reports, FII flows, and global economic data could influence market trends. Analysts believe Nifty might hit the 25,000 mark for the first time.
Gold outperformed Nifty so far in 2024, but post-budget changes in import duties affected its price. Despite geopolitical uncertainties and central bank buying, investors are advised to focus on equities with some gold for portfolio stability.
ICICI Bank reported a 14.6% increase in Q1 net profit, reaching Rs 11,059 crore, surpassing expectations. Net interest income rose, and treasury income surged. While gross NPA ratio improved, slippages increased marginally.
In the Union Budget 2024-25 presentation, Finance Minister Nirmala Sitharaman emphasized fiscal consolidation and strategic spending. The government allocated additional resources to reducing the fiscal deficit and boosting revenue spending. Stock recommendations include LIC Housing Finance and Dabur, expecting significant returns over the next year.
N Jayakumar, MD of Prime Securities, emphasized that markets favor growth, supported by new capacities and better utilization. He noted a significant shift toward B2B investments and capex in engineering, metals, and mining sectors. The article also highlighted Vodafone\’s need for equity due to undercapitalization, showcasing how equity markets rescue debt-laden companies.
Raamdeo Agrawal, Chairman of Motilal Oswal Group, expressed optimism about Nifty\’s valuation, economy growth, and capital market prospects. He predicted a 50 basis points drop in interest rates and a 14-15% rise in Nifty EPS by next year. He noted significant corporate profits and anticipated increased participation from FIIs. He also says the financial inclusion revolution is at the start of a decadal trend.
The RBI prioritized asset quality but now focuses on liquidity conditions at private banks. With rising online transactions and security concerns, the RBI drafts reforms on LCR exposure. Additionally, a favorable Budget is expected to boost FMCG sector growth, particularly from rural demand. The rupee might depreciate, but the RBI aims to balance inflation and forex liquidity.