Indian stocks, which have been under a lot of selling pressure lately, will now have to deal with more difficulties after Goldman Sachs Group downgraded Indian stocks from “overweight” to “neutral,” citing slowing economic growth that is affecting the outlook for corporate earnings, according to sources. The group had earlier elevated Indian stocks to “overweight”…
The electric bus manufacturer Olectra Greentech’s stock jumped 6% in intraday trading on Wednesday, October 23 to ₹1,716 per share following the release of the company’s strong September quarter financial results. Following market hours on Tuesday, the company announced its Q2FY25 results. It reported a 156.50% growth in consolidated net profit to ₹47.65 crore, up…
Strong Q2 results caused Persistent Systems’ share price to surge by about 12% to reach all-time highs. The company’s overall net profit increased by 23.44% to ₹324.9 crore in the September quarter, up from ₹263.2 crore in the same period the previous year. Operating revenue for the quarter was ₹2,897.1 crore, up 20.13% from ₹2,411.6…
A day after releasing its Q2FY25 results, Zomato’s shares saw turbulence in early trading, first falling by about 5% as a result of profit booking. However, Zomato’s share price hit a day low of Rs 242.45, but by 10:22 am, it had risen to Rs 260.15 on the Bombay Stock Exchange (BSE). Compared to Rs…
Investor interest in the OBSC Perfection IPO was low; as of 3:30 p.m. today, the issue had only been subscribed for 0.23 times since it opened for sale on Tuesday, October 22. Only 0.35 times as many people subscribed to the retail investor component, compared to just 0.09 times for the non-institutional investor (NII) section….
United Heat Transfer IPO Day 1: By 2:30 PM on Tuesday, October 22, 2024, the United Heat Transfer IPO had garnered 1.24 subscriptions total, indicating high interest on the first day of bidding. The most enthusiastic group was qualified institutional buyers (QIBs), who subscribed 1.74 times, while the retail category subscribed 1.32 times. But the…
Early on Tuesday, Ola Electric Mobility’s stock price increased by more than 4% after the business declared that it had addressed the majority of the Central Consumer Protection Authority’s (CCPA) objections. On the BSE, shares of Ola Electric surged up to 4.45% to a peak of ₹85.30 per. According to the manufacturer of electric two-wheelers,…
On Tuesday, October 21, there was still a lot of selling pressure on PNC Infratech shares. Following a notable 20% decline on Monday, October 21, the stock dropped an additional 10% today to its 52-week low of ₹299. The Ministry of Road Transport and Highways (MoRTH) banned the company and its two subsidiaries from bidding…
Shares of Rail Vikas Nigam Ltd (RVNL) fell 4.62% on the NSE to an intraday low of ₹444.10 following the company’s announcement that it had established a completely owned subsidiary business in Saudi Arabia called “Company Rail Vikas Nigam Ltd. (One Partner)”. At 10:51 a.m. on Tuesday, the stock was down 3.89% on the NSE,…
International brokerages have begun covering Hyundai Motor India (HMIL), the nation’s largest issue by size, ahead of its listing. Qualified Institutional Buyers (QIBs) led the subscription rate at 6.97 times, and the issue proved to be successful, obtaining 2.37 times the overall subscription. There were 142.2 million shares up for sale in the Rs 27,870…