News - The Purbottar

24 Jan

Indus Towers shares surge on rose in Q3 earnings, Citi expects 32% surge

Priyanka RoyBusiness, News

Shares of telecom company Indus Towers rose two percent in the morning session on January 24 after the company reported better-than-expected earnings for the quarter ended December (Q3) of the current financial year (FY25). Indus Towers reported a consolidated net profit of Rs 4,003 crore for the quarter, registering a growth of 159.9 percent from Rs 1,541 crore in the corresponding quarter of the previous fiscal, led by significant collection of dues from Vodafone Idea and strong tower additions. The company saw its revenue from operations grow by 4.8 per cent to Rs 7,547 crore from Rs 7,199 crore in…

23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% drop in profit

Priyanka RoyBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…

22 Jan

HDFC Bank Q3 results: Profit may rise up to 3%, NII 6-8%; know what to watch out for

Priyanka RoyBusiness, News

HDFC Bank Q3 results: The largest private lender is likely to report a 0-3 percent rise in net profit for the December quarter, while net interest income (NII) will grow 6-8 percent. Provisions may rise sequentially, but decline on a year-on-year (YoY) basis. Net interest margin (NIM) may remain stable, banking analysts said, adding that management commentary on loan growth will be closely watched later today. Axis Securities expects HDFC Bank to report a 2.2 per cent year-on-year (YoY) rise in net profit at Rs 16,737 crore for the December quarter, as against Rs 16,373 crore in the same quarter…

21 Jan

Zomato Q3 results: Net profit drops 57.2% to Rs 59 crore as against Rs 138 crore a year ago; shares fall

Priyanka RoyBusiness, News

Zomato Q3 results: Zomato on Monday reported a 57.24 per cent drop in its net profit to Rs 59 crore for the December 2024 quarter (Q3 FY25), according to a regulatory filing. Following this, its shares declined 7 per cent intra-day and closed at Rs 240.95 per share, down 3.14 per cent from the previous day.However, the food delivery platform's revenue grew 64 per cent to Rs 5,405 crore during October-December 2024 as against Rs 3,288 crore in the same period a year ago.Importantly, its quick commerce Blinkit, which had kept Zomato profitable in previous quarters, has reported an EBIT…

20 Jan

Havells India shares jump despite marginal drop in third quarter net profit

Priyanka RoyBusiness, News

Havells India Ltd shares jumped on January 20 despite the company reporting a marginal drop in net profit in the December quarter. The home appliance maker's profit fell to Rs 283 crore from Rs 288 crore a year ago in the quarter ended December 31. Havells' revenue from operations rose nearly 11% to Rs 4,883 crore, while total expenses rose 12.3% to Rs 4,564 crore. Havells India shares were trading 1.5% higher at Rs 1,598 per share at 1:35 pm on January 20. This performance reflected strong demand from its switchgear project business, but it suffered inventory de-stocking in wires…

18 Jan

Havells shares increase, company’s Q3 revenue rises 10% to Rs 4,889 crore

Priyanka RoyBusiness, News

Havells India shares jumped 1.08% on January 17 after the company announced its Q3 results on January 16. The company's revenue from operations grew 10% to Rs 4,888.98 crore in Q3 FY25 as against Rs 4,413.86 crore in Q3 FY24. The shares opened 0.79% lower at Rs 1,544.95 and later recovered from the losses by hitting an intraday high of Rs 1,617.95 in the early morning hours of January 17. The stock later pared some gains and traded at Rs 1,574.15. Though the company reported a rise in revenue, its net profit declined to Rs 278 crore in Q3 FY25.…

17 Jan

Infosys reports 11.4% rise in October-December quarter

Priyanka RoyBusiness, News

The company's revenue grew 7.6 per cent to Rs 41,764 crore in the third quarter as against Rs 38,821 crore in the same quarter last year.India's second-largest IT services firm Infosys Ltd on Thursday reported an 11.4 per cent rise in net profit for the December quarter (Q3) of FY25 at Rs 6,806 crore as against Rs 6,106 crore in the same quarter last year.The company's revenue grew 7.6 per cent to Rs 41,764 crore in the third quarter as against Rs 38,821 crore in the same quarter last year.Infosys has raised its constant currency (CC) revenue growth guidance for…

16 Jan

Wholesale inflation jump to 2.37% in December

Priyanka RoyBusiness, News

India's wholesale inflation rose in December, led by a surge in prices of various commodities. The wholesale price index rose 2.37% in December, compared to 1.89% in November, according to data released by the Ministry of Commerce and Industry on Tuesday. On a sequential basis, the index declined 0.38%, compared to a 0.5% decline in the previous month. Global commodity prices have risen slightly so far in January 2025 compared to December 2024. ICRA Chief Economist Aditi Nayar said the average price of the Indian basket of crude oil rose 5.8% month-on-month during January 1-13, 2025, especially amid tighter US…

15 Jan

Trent shares upsurge nearly 5% after Elara Securities assigns ‘buy’ rating

Priyanka RoyBusiness, News

Trent shares rose 4.89 percent to Rs 6,519 per share on January 15 after Elara Securities recommended a "buy" on the stock.Elara Securities has initiated coverage on Trent with a "buy" rating and a target price of Rs 8,500. The brokerage expects Trent to maintain industry-leading metrics due to differentiated product offerings, strong hold on processes and complete reliance on private labels.Trent's fashion portfolio consistently outperforms its peers in key parameters such as store size, revenue per sq ft/per store and EBITDA margin, as well as leading in headline growth.This outperformance is expected to be sustained by a firm focus…

14 Jan

Adani Group stocks increase as Adani Power surges over 19%

Priyanka RoyBusiness, News

New Delhi: Adani Group stocks witnessed a significant surge on Tuesday, with Adani Power recovering from the previous day's fall to surge as much as 19.29%. Other stocks in the group that also registered gains included Adani Green Energy, which rose 14.54%, Adani Energy Solutions (14.38%), Adani Total Gas (13%), and NDTV (12.50%) on the Bombay Stock Exchange (BSE). Shares of Adani Enterprises rose 8.91%, Adani Ports surged 6%, Ambuja Cements rose 4.79%, ACC rose 4.50%, Sanghi Industries rose 4.22%, and Adani Wilmar gained 3%. All Adani Group stocks ended weak in Monday's trade following a weak trend in equities.…