Investors are only now starting to realize the plan that Mukesh Ambani and his telecom brainchild, Reliance Jio, have put into practice, and are therefore driving stock prices of his company higher, said Angel Broking, a retail-only stock-broker. Reliance Industries share prices surged 11% on Wednesday, the first time it has moved so much in […]
Nandan Denim Limited (NDL), a Gujarat- based fabric manufacturer, said it is planning to issue 50 lakh convertible warrants to foreign investors at Rs 200 each, aggregating to Rs 100 cr. “The company will be issuing 25 lakh fully convertible warrants each to Foreign Portfolio Investors, LTS Investment Fund Ltd and LGOF Global Opportunities Ltd […]
Tata Consultancy Services Ltd is scheduled to report its first-quarter results at 4 pm today. India’s biggest IT services company has been giving out disappointing quarterly numbers for over a year, and the market is hoping that the IT major will not disappoint this time. We bring you a summary of what different analysts expect […]
Jet Airways, one of India’s top three airlines, denied rumors of its foreign partner Etihad Airways, approaching the government for permission to increase its stake in the Indian airline. “With reference to news item appearing in leading newspaper dated June 24, 2015 titled, “We would like to state that certain media reports about Etihad Airways […]
Edelweiss, one of India’s biggest brokers, has downgraded Nestle India to ‘reduce’ from ‘hold’ over the controversy surrounding one of its biggest revenue drivers – Maggi noodles. Some state governments have alleged that the noodles contain lead and high levels of MSG, which the company denies. Sales of Maggi noodles are expected to have halved […]
Three of the top four stocks held by mutual funds in India are bank stocks – ICICI Bank Ltd, HDFC Bank Ltd and State Bank of India, with Infosys Ltd being the sole exception. ICICI Bank and HDFC Bank were the top holdings, with ICICI alone accounting for about Rs 14,300 crore, or about 5% […]
Stocks of Indian IT service providers like Tata Consultancy Services, Infosys Ltd, HCL Technologies etc. are near their historic lows in terms of valuation and do not have much more scope for further correction, Edelweiss Financial Services said. “IT stocks have corrected sharply in the past couple of months led by INR appreciation and portfolio […]
TCS’ fourth quarter results look decent on the fact – revenue grew 1.9% in dollar terms compared to the preceding quarter, and profit was up 2.5%. The company blamed poor India performance in its press conference. However, there is more to it that just poor India numbers. First, after a seasonally weak quarter in the […]
Tomorrow is the much awaited Infosys quarterly earnings results – an event that would set the agenda for IT stocks for the coming days or weeks. So what should you expect from the results? First off, Infosys is unlikely to report the 1.5-2% growth in dollar revenues that it has managed for the last two […]
