ONE GLOBAL SERVICE PROVIDER LTD Q4 RESULTS
Amazon in q-comm queue; Big B’s Swiggy stake
Happy Wednesday! Amazon India is gearing up to enter the quick commerce space independently, sources tell us. This and more in today’s ETtech Morning Dispatch.
LIC plays the price game for growth, margins take a back seat, for now
LIC, India's largest insurance provider, shifted its growth strategy, focusing on expansion over margins. In Q1 FY25, it reported a 24% rise in value of new business due to a 21% increase in annualized premium equivalent. This strategy led to a rise in non-par segment premiums but a decline in overall margins.
FII selloff hits Rs 30,000 crore since Budget but why aren't alarm bells ringing?
FIIs have sold Indian stocks worth Rs 30,000 crore since the Budget due to high valuations and global economic concerns. Despite the sell-off, Indian markets remained resilient due to strong domestic investor support. Analysts expect FII behavior to improve by November as key global economic conditions stabilize.
Apollo Hospitals shares rise 4% after reporting 83% YoY jump in Q1 PAT. Should you buy?
Apollo Hospitals Share Price: Apollo Hospitals' stock saw a 4.2% increase after reporting a Q1 FY25 net profit of Rs 305 crore, up from Rs 167 crore last year. Revenue grew by 15% to Rs 5,086 crore. Several brokerage firms maintained positive ratings, highlighting improvements in occupancy and revenue segments.
Q2 goods exports seen 4.2%: EXIM Bank
“Positive growth in India’s exports could be as a result of India’s continued strong economic activity backed by sustained momentum in manufacturing and services sector, expected global monetary easing and improving demand prospects in trading partners,” the bank said in a statement.
Inox Green Energy Services Q1 Results: Profit jumps 55% YoY to Rs 4.14 cr
Inox Green Energy Services is a subsidiary of Inox Wind Limited (IWL) which is India's leading wind energy solutions provider catering to independent power producers, utilities, public sector units and corporate investors
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Biocon Q1 Results: Net Jumps 6-fold to Rs 660 cr on one-time gain
Biocon's net profit for Q1FY25 surged to ₹660 crore, up from ₹101 crore the previous year, primarily due to a one-time gain from selling Biocon Biologics' domestic branded formulation business. Revenue remained flat at ₹3,433 crore. Core EBITDA saw a decline, although overall EBITDA improved significantly due to the one-off gain.
ONGC shares jump on Q1 show, Oil India also
Shares of state-owned ONGC and Oil India rose almost 8% after ONGC's first-quarter profits surpassed estimates. Investors also anticipated strong results from Oil India and higher oil prices due to tensions in the Middle East. Analysts recommended waiting for a potential dip before investing further.
Signature Global Q1 Results: Realty firm posts Rs 7 cr profit against loss YoY
"Continuing with the momentum achieved in FY24, the company reported another stellar performance for the first quarter of FY25. Our operational performance is a testimony of our steadfast commitment to delivering quality products & services to our customers ensuring sustainable profitability and long-term value for all stakeholders," Pradeep Kumar Aggarwal, Chairman and WholeTime Director, said.
IT firms’ Q1 job data suggest they may end FY25 with higher headcount
The number of aggregate employees at Tata Consultancy Services, Infosys, Wipro, HCLTech and Tech Mahindra dropped by 2,034 sequentially in the first quarter ended June 30, according to the quarterly data they announced in July. Three of the companies — TCS, Wipro and Tech Mahindra — registered net additions in headcount.
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.
Paytm Q1 Results: Consolidated loss widens to Rs 839 crore, revenue plunges 36% YoY
Paytm Q1 Results: One 97 Communications, the parent company of Paytm, reported a widened cons loss of Rs 838.9 crore in the June quarter, compared to Rs 357 crore in the same quarter last year. Revenue for Q1 declined by 36% YoY to Rs 1,502 crore from Rs 2,342 crore in Q1 FY24. Despite this, the company indicated that its revenue and EBITDA, excluding the ESOP loss of Rs 545 crore, met its guidance.
Infosys Q1 headcount drops by 1,908; to hire up to 20,000 freshers in FY25
Total employees at Infosys for the period ending June stood at 315,332 as compared to 317,240 in the March quarter. The employee count declined by 20,962 from a year ago. Infosys said its first-quarter net profit declined 20.1% sequentially, despite seeing a revenue gain of 3.7% quarter on quarter.
Paytm Q1 results preview: Revenue may fall by up to 36%, net loss likely to widen
One 97 Communications, operating Paytm, could report a net loss between Rs 1,013 crore and Rs 840 crore and a revenue between Rs 1,532 crore and Rs 1,490 crore for June 2024, according to estimates by two brokerages.
Sterling & Wilson Renewable Q1 Results: Net profit at Rs 4.83 crore vs loss a year ago
"With a robust project pipeline and strong balance sheet, we are confident of tapping the huge growth and are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders," Global CEO Amit Jain said.
Infosys Q1 Preview: Net profit may jump 6% YoY; strong sequential revenue growth seen
Infosys Ltd is anticipated to show solid sequential revenue growth in Q1 of June 2024, fueled by large deals. Net profit expected to rise by 6% year-on-year. Key areas of interest include deal TCVs, pricing, attrition, and growth/margin outlook. Analysts offer positive forecasts for Infosys performance.
HCL Tech shares surge 4% on Q1 profit beat. Time to hold or buy?
HCL Technologies reports a 20% YoY growth in net profit, reaching Rs 4,257 crore for the quarter ended June 2024. Brokerages maintain positive views on the stock with target prices ranging from Rs 1,720 to Rs 1,850.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Ashish Kacholia-backed smallcap stock jumps 8% after company's Q4 PAT rises 153%
Zaggle Prepaid Ocean Services, a smallcap company supported by ace investor Ashish Kacholia, saw its shares surge by almost 8% to Rs 338 on Friday's trading session on the BSE. This spike followed the announcement of strong fourth-quarter results.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Paytm among worst performing fintech stocks as earnings loom
Emkay Global’s analyst Anand Dama expects a further 16% correction, arguing that the fourth quarter results “won’t capture the full extent of business disruptions caused due to the drop in UPI and bill payment market share.”
Zee Entertainment Enterprises shares rise 3% as firm swings back to black in Q4
Zee Entertainment Enterprises experienced a nearly 3% increase in its share price to Rs 144.4 during Tuesday's trading session on the BSE, following the company's announcement of a profit of Rs 13 crore in the March quarter of FY24. This marks a significant turnaround from the loss of Rs 196 crore reported in the same period last year.
Global Health Q4 Results: Net profit rises 25% to Rs 127 crore
For the year ended on March 31, 2024, the company said its net profit increased to Rs 478 crore as against Rs 326 crore in FY23.
Will Nifty hit fresh record high before elections? That depends on these 5 factors
The week may remain lacklustre on the data front as no major economic data releases are scheduled in both the US as well as the Indian market. Indian investors are likely to focus more on the ongoing earnings season as well as stock specific developments. Nifty and Sensex have reached all-time highs driven by US Fed data and expert insights. Key factors that will shape market outlook.
ZEE Entertainment shares rally 5% after Q4 results. Should you buy, sell or hold?
ZEE Share Price: ZEEL swung back to profit in March quarter against loss a year ago. Its total income in the reporting quarter, too, increased 3% YoY to Rs 2,185 core. Goldman Sachs sees partial recovery in revenues as a positive sign.
Biocon Q4 Results: Net profit drops 57% to Rs 136 crore
Total revenue grew 1% YoY to Rs 3,966 crore. EBITDA for the quarter declined 16% YoY to Rs 964 crore, representing an EBITDA margin of 24% versus 29% in the same period last year. The gross R&D spends declined 36% YoY to Rs 228 crore in Q4FY24.
Redington Q4 Results: Firm posts standalone profit of Rs 160.57 crore
Integrated technology solutions provider Redington Ltd has reported a standalone net profit for the January-March 2024 quarter at Rs 160.57 crore, the company said. The city-based company had registered a standalone net profits of Rs 124.91 crore during the corresponding quarter of previous year.
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