Contents
Economic strength or extreme euphoria: What’s driving Indian stock markets?Trump found guilty in hush money trial: Can he still be President?Bikaji Foods rallies 9%, nears record high on heavy volumesOPEC meeting to shape India’s Russian oil purchases as May levels stay highSwan Energy’s stock slides 5% as net profit takes beating in Q4 showWipro public shareholders object to outgoing CEO Delaporte’s severance payHere’s why Welspun Corp is falling in trade today; check detailsSwan Energy’s stock slides 5% as net profit takes beating in Q4 showThis recently listed IPO has surged 35% in 3 days; up 144% from IPO priceMuthoot Finance shares rise 4%, test record high post Q4; analysts upbeatM&M, Bajaj Auto: Nomura’s preferred picks ahead of May sales dataRBI transfers 100 tonnes of gold from UK to its domestic vaults in IndiaLarsen & Toubro rallies 3% on strong outlook; stock surges 14% in 3 weeksFIIs turn bearish ahead of June 1 exit poll outcome; index shorts at 87.13%
1:37 PM
Economic strength or extreme euphoria: What’s driving Indian stock markets?
Valuations in most parts of the Indian stock market, analysts said, are expensive with the extent of overvaluation increasing in inverse order of market capitalization (market-cap). READ MORE
1:31 PM
Trump found guilty in hush money trial: Can he still be President?
Despite this significant legal blow, former US President Donald Trump remains a prominent contender in the ongoing 2024 US presidential race. READ MORE
1:22 PM
Bikaji Foods rallies 9%, nears record high on heavy volumes
Bikaji Foods rallied 9% to Rs 592.95 on the BSE in Friday’s intra-day, trading close to its record high level of Rs 604.95 touched on January 30, 2024. READ MORE
1:10 PM
OPEC meeting to shape India’s Russian oil purchases as May levels stay high
The extent of India’s imports of cheap, discounted Russian oil, which is linked to the financial health of oil marketing companies led by Indian Oil, in 2024 hinges on the outcome of a meeting of some of the world’s top oil exporting nations in early June, said industry officials. READ MORE
12:59 PM
Swan Energy’s stock slides 5% as net profit takes beating in Q4 show
Shares of Swan Energy fell 4.9 per cent at Rs 574.75 per share on the BSE in Friday’s intraday deals. This came after the company delivered a double digit drop in its net profits. READ MORE
12:48 PM
Wipro public shareholders object to outgoing CEO Delaporte’s severance pay
A majority of public shareholders in Wipro, India’s fourth largest information technology (IT) services company, objected to chief executive Thierry Delaporte’s cash compensation, according to regulatory filings. READ MORE
12:37 PM
Here’s why Welspun Corp is falling in trade today; check details
The company’s revenue (topline) grew 9.6 per cent to Rs 4,461.2 crore in the March quarter of FY24, from Rs 4,070.2 crore in the March quarter of FY23. READ MORE
12:25 PM
Swan Energy’s stock slides 5% as net profit takes beating in Q4 show
Shares of Swan Energy fell 4.9 per cent at Rs 574.75 per share on the BSE in Friday’s intraday deals. This came after the company delivered a double digit drop in its net profits. READ MORE
12:03 PM
This recently listed IPO has surged 35% in 3 days; up 144% from IPO price
Exicom Tele-Systems rallied 10% to Rs 346.60, its highest level since its listing on March 5, 2024, on the BSE in Friday’s intra-day trade. READ MORE
11:52 AM
Muthoot Finance shares rise 4%, test record high post Q4; analysts upbeat
Muthoot Finance Q4: Muthoot Finance clocked its highest-ever consolidated loan asset under management (AUM) of Rs 89,079 crore in Q4FY24. READ MORE
11:39 AM
M&M, Bajaj Auto: Nomura’s preferred picks ahead of May sales data
May auto sales preview: Nomura analysts expect passenger vehicle (PV) wholesales to grow by 6 per cent on a year-on-year (Y-o-Y) basis to 355,000 units. READ MORE
11:30 AM
RBI transfers 100 tonnes of gold from UK to its domestic vaults in India
The Reserve Bank of India (RBI) has transferred over 100 tonnes of gold from the UK to its domestic vaults, marking the first instance since early 1991 that a significant amount of gold has been added to the locally held reserves, according to a report in the Times of India (TOI). READ MORE
11:16 AM
L&T is India’s largest E&C company, with an interest in EPC projects, and hi-tech manufacturing and services. The company primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, services business segments. Infrastructure segment contributes around 45 per cent to consolidated revenue followed by services (30 per cent), and international markets (25 per cent of backlog from international markets). Read more
Larsen & Toubro rallies 3% on strong outlook; stock surges 14% in 3 weeks
Shares of Larsen & Toubro rallied 3 per cent to Rs 3,743.10 on the BSE in Friday’s intraday trade, extending its gain on a strong business outlook. In the past three weeks, the stock of the engineering & construction (E&C) major has surged 14 per cent. In comparison, the S&P BSE Sensex has gained 2.4 per cent during the same period. The stock had hit a record high of Rs 3,859.65 on April 2, 2024.
L&T is India’s largest E&C company, with an interest in EPC projects, and hi-tech manufacturing and services. The company primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, services business segments. Infrastructure segment contributes around 45 per cent to consolidated revenue followed by services (30 per cent), and international markets (25 per cent of backlog from international markets). Read more
11:00 AM
On Thursday, as the Nifty took another near 1 per cent hit, the FIIs built aggressive shorts in the index futures in the derivatives segment. The FIIs index long-short ratio, which stood at 0.98, suddenly plummeted to 0.15, with index shorts as high as 87.13 per cent post expiry of the May series contract. Read more
FIIs turn bearish ahead of June 1 exit poll outcome; index shorts at 87.13%
Foreign Institutional Investors (FIIs) have turned extremely bearish ahead of the Lok Sabha elections outcome in India, which will be out on June 04. The exit polls will trickle in from June 01 (Saturday) onwards.
On Thursday, as the Nifty took another near 1 per cent hit, the FIIs built aggressive shorts in the index futures in the derivatives segment. The FIIs index long-short ratio, which stood at 0.98, suddenly plummeted to 0.15, with index shorts as high as 87.13 per cent post expiry of the May series contract. Read more
