JSW STEEL LTD Q2 RESULTS
India Inc looks within for top bosses amid focus on succession
Nifty 50 companies have shown a preference for in-house talent, with 62% promoting internal candidates to CEO roles in the past five years. This trend is attributed to stricter regulations and enhanced succession planning by company boards to minimize the risk of losing key human capital.
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
Nifty's 4% YoY Q1 PAT growth surpasses Motilal's estimates. Adani Ports and four others see FY25 earnings upgrades
Nifty achieved a 4% YoY growth in profit after tax (PAT), exceeding Motilal Oswal's 3% estimate, though it's the slowest growth since the pandemic quarter of 2020. Key contributors to this growth were HDFC Bank, Tata Motors, ICICI Bank, Maruti Suzuki, and Tata Consultancy Services (TCS), which together accounted for 127% of the incremental YoY earnings.
Market Wrap: Sensex inches 150 points higher, Nifty flat as traders await US CPI data
The Nifty closed nearly flat, impacted by mixed investor sentiment ahead of the U.S. CPI data. Gains in IT stocks, thanks to soft U.S. producer price data, were offset by profit booking. Leading gainers were TCS and Infosys, whereas sectors like Nifty Bank and Pharma declined.
Ola Electric to announce Q1 results on August 14 in first board meeting after listing
Ola Electric was listed on Friday, August 9 disappointing investors as it got listed at par with the issue price of Rs 76. However, later during the day, the stock surged 20% to hit an upper circuit high of Rs 91.20 on NSE
SAIL Q1 Results: Net plunges over 60% as steel prices melt on import pressure
SAIL experienced a substantial decline in net profit, falling over 60% to ₹81.78 crore in Q1 of FY 2024-25, due to reduced domestic steel prices impacted by imports. Total income slipped by 2.61%. The company recorded an exceptional gain of ₹311.76 crore and revoked suspensions of senior employees under scrutiny for policy discrepancies.
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SAIL Q1 Results: Net profit slumps 93% YoY to Rs 11 crore on weak pricing, exceptional item
The steel maker had an exceptional loss of Rs 312 crore. The state-owned steel company reported a 3% year-on-year increase in steel sales during the quarter, reaching 4.01 million tonnes. Despite a slight 1.5% decrease in revenue to Rs 23,998 crore, the company's core operations remained strong with a 15% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to Rs 2,420 crore.
JSW Steel plans NCD issue to raise Rs 2,500 cr to fund its capex plans
JSW Steel sought ₹2,500 crore through SBI and ICICI Bank for capital expenditure. The company aimed to issue non-convertible debentures at an 8.5% interest rate. JSW intended to invest ₹20,000 crore in FY25 to enhance production capacity, targeting 50 million tonnes by FY31. Talks were reportedly in advanced stages.
Stocks in news: SBI, Airtel, ONGC, Titan, Infosys, JSW Steel, IDBI Bank
The past week saw domestic markets close marginally lower amid volatility. Key highlights included SBI's 0.9% rise in Q1 net profit, Titan’s slight profit decrease, and Divi's Labs' 21% profit growth. Airtel, ONGC, and Marico were noted for upcoming Q1 results, while Infosys had significant regulatory updates.
Tata Steel shares jump 2% after reporting 51% YoY jump in Q1 PAT
Tata Steel shares rose 2% on Thursday, reaching Rs 168.80 on the BSE, following a report of a consolidated PAT of Rs 960 crore for the June quarter. However, revenue declined 8% year-on-year to Rs 54,771 crore. The board approved a scheme of amalgamation with Rujuvalika Investments and their respective shareholders.
Tata Steel Q1 Results: Cons PAT jumps 51% YoY to Rs 960 crore, misses estimates
Tata Steel Q1 Results: Profit, while up 51% year-on-year to ₹960 crore, fell short of Street forecasts of ₹994 crore. Revenue also took a hit, declining 8% to ₹54,771 crore. In a separate development, the board greenlit a ₹35 crore infusion into Tata Power Renewable Energy's subsidiary, TP Parivart, acquiring a 26% equity stake.
Tata Steel Q1 results today: Here's what to expect from the steel major
Tata Steel's Q1 FY2024 profitability was expected to rise significantly, with net profit growth ranging from 57% to 209% year-on-year, according to five brokerages. However, revenues were projected to fall 6%. India operations saw growth in deliveries and EBITDA, while Europe, particularly the UK, faced continued losses despite improvements in Netherlands operations.
Q1 results today: Maruti, M&M among 115 companies to announce earnings on Wednesday
Q1 results today: In the first quarter earnings season, 115 companies announced results, including Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja, and Bank of Baroda. M&M and Maruti expected mixed revenue and profit changes, while Tata Steel's profit was predicted to rise notably amid a revenue drop. Several others also reported their quarterly performance.
Q1 results this week: ITC, SBI, TaMo, Zomato among 130 firms to announce earnings
This week, several prominent companies released their June quarter financial results. Firms like ITC, SBI, Adani Ports, Tata Motors, and M&M showcased their reports between July 29th and August 3rd. The updates offered a glimpse into their quarterly performance, engaging the attention of investors and stakeholders.
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for
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.
Steel demand in India to remain strong: Jayant Acharya, JSW Steel
Italian operations have been stable and we expect some improvement going forward into Q2. US operations have also good thing is by and large stabilised and from a volume perspective they are doing well. India, we expect the momentum to be strong, so therefore steel demand in India will continue to be the main thing.
JSW Steel shares drop 3% post 64% YoY fall in Q1 profit. Should you still invest?
JSW Steel saw a 2.5% drop in shares after reporting a 64% decline in net profit for Q1. Brokerage firms have mixed views on the stock, with varying target prices. Despite challenges, the company remains optimistic about growth prospects.
Sensex falls over 300 pts as RIL & bank stocks tumble, Nifty below 24,400
Ahead of the budget, Indian markets fell. Sensex dropped 355 points, Nifty50 by 148 points. Reliance fell 2.5% from lower fuel margins; HDFC Bank, the country's top private lender, rose 1% after beating profit forecasts; Wipro dropped 8% due to weak demand in Europe and Asia-Pacific. Mixed performance among key stocks in early trading.
Q1 Results Today: What to expect from HDFC Bank and Kotak Bank’s earnings
HDFC Bank's Q1 FY25 financial results are likely to be less impressive than the previous quarter, primarily due to slower deposit growth. The merger with HDFC Ltd. makes year-over-year comparisons irrelevant. Loan growth is also expected to moderate, impacting net interest income. While the bank navigates the challenges of integration and a tougher economic environment, its profitability might see a minor dip in this quarter.
JSW Steel Q1 Results: Net profit plunges over 64% YoY to Rs 867 crore
The country’s largest steelmaker produced 6.35 million tons of steel at a consolidated level during the quarter, down 1% from the previous year and 6% sequentially due to planned maintenance shutdowns at Dolvi and Bhushan Power. As a result, capacity utilization at its operations in India stood at 87% during the quarter, compared to 92% a year ago.
JSW Steel Q1 Results: Profit falls 64% YoY to Rs 845 crore, misses estimates
JSW Steel Q1 Results: Revenue from operations in the June quarter increased 2% year-on-year to Rs 42,943 crore. EBITDA for the reporting quarter fell 22% YoY to Rs 5,510 crore, while margins declined 390 basis points to 12.8%.
JSW Infrastructure shares tank over 7% post Q1 results. Should you buy or sell?
JSW Infrastructure Share Price: JSW Infrastructure shares fell 7.4% to Rs 311 due to an 8% profit drop to Rs 296.55 crore amid higher expenses.
Q1 results today: RIL, Wipro, Paytm among 51 companies to announce earnings on Friday
Q1 results today: Several major companies, including Reliance Industries, Wipro, and Paytm, are set to announce their first quarter results today. Expectations range from profit growth to revenue declines across different sectors. Investors are advised to stay informed and watch out for key updates.
Stocks in news: RIL, Wipro, Paytm, Infosys, Tata Technologies
Nifty50 reaches 24,800; RIL, Wipro, Infosys, Tata Technologies reveal first-quarter results. Vodafone Idea issues Rs 615 crore in equity shares. Infosys records 3.6% revenue growth, broad-based in constant currency. Tata Technologies' profit falls 15%. CIE Automotive earns Rs 217 crore. JSW Steel's results await.
JSW Steel Q1 Results Preview: PAT likely between Rs 213 cr and Rs 1,170 cr, down upto 91% YoY
Analysts are divided on JSW Steel's June quarter revenue projections. Prabhudas Lilladher and Yes Securities anticipate growth of 1.1% and 13%, respectively, driven by higher realizations for flats and longs. Conversely, Nuvama Institutional Equities and JM Financial predict declines of 4.5% and 1.2%, respectively.
SBI, NTPC catapult Sensex, Nifty to historic highs; investors reap Rs 2.7 lakh crore reward
The 30-share benchmark index jumped 145 points to settle at 80,665. The broader NSE Nifty gained 84 points to strengthen its hold above 24,580. From the Sensex pack, SBI, NTPC, and UltraTech Cement were the top gainers, rising 2-2.5%. M&M, Bajaj Finance, Tata Motors, and Maruti Suzuki also closed with gains
Q1 result season begins: 30 companies may report over 100% growth in profit
Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.
JSW Steel shares fall over 2% after Q4 result disappoints
JSW Steel Share Price: The fall in share price came a day after the steel major reported a drop in consolidated net profit to Rs 1,299 crore for the quarter ended March 2024. It was Rs 3,664 crore a year ago. Revenue from operations in the reporting quarter, too, took a beating, though marginally, to Rs 46,269 crore.
JSW Steel Q4 Results: Profit falls 64% YoY to Rs 1,299 crore
JSW Steel reported a 64% YoY drop in consolidated net profit to Rs 1,299 crore for March 2024, with revenue from operations at Rs 46,269 crore. The Board recommended a final dividend of Rs 7.30 per share, and the EBITDA margin was 13.2%. Details on operating profit, sales realisations, total sales volumes, exports, and production achievements were highlighted.
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