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Stocks in news: TCS, Groww, Shriram Finance, Dixon Tech, Anand Rathi Wealth
Indian markets saw a rebound on Thursday, recovering from Wednesday's sharp sell-off. TCS reported a 5% year-on-year profit growth, and Groww affirmed its direct mutual fund strategy. Shriram Finance is raising funds to reduce borrowing costs after a rating upgrade. Maruti Suzuki plans to add service points, and Dixon Tech will expand smartphone manufacturing. Premier Energies commissioned a solar module facility, and Anand Rathi Wealth saw profit rise.
Nifty trades above 24,000 level; European mrkt advance
All the sectoral indices in the NSE were traded in green with realty, media and consumer durables shares led the rally.
Flipkart names Vinay Vaidya as senior VP to bolster tech leadership
Flipkart has appointed Vinay Vaidya as Senior Vice President of Technology for its supply chain, aiming to bolster its tech leadership and advance AI and platform capabilities. Vaidya, with extensive experience from Amazon and Tata Digital, will oversee technology across fulfilment, seller experience, and marketplace operations.
Trust MF CIO sees revival in corporate cycle, stays bullish on mid and smallcaps
Mihir Vora, Chief Investment Officer at Trust Mutual Fund, remains bullish on renewable energy, with a preference for solar, and is betting on transmission and distribution companies as well as commercial clean energy suppliers catering to sectors such as data centres.
Sensex, Nifty surge over 1%; European mrkt advance
Barring pharma, all the sectoral indices on the NSE were traded in green, led by gains in realty, auto and metal shares.
Tata Consumer sees margin boost, targets 20%+ EBITDA: Chairman Chandrasekaran
Tata Consumer Products aims for over 20% EBITDA margin in the long run. Newer businesses like Tata Sampann and acquired entities are key growth drivers. The company plans significant annual growth from acquisitions. Innovation and digital capabilities are also central to future expansion. Revenue and profit saw substantial increases in the last fiscal year.
Smart money move: Why Groww MF's equity chief is betting on multicap strategies
Anupam Tiwari of Groww Mutual Fund warns of a potential oil shock. He believes a multicap strategy combined with bottom-up investing is suitable for current market conditions. Valuations in mid and small caps have improved, making active stock picking more viable. Tiwari highlights opportunities in financials, industrials, autos, and specialty chemicals.
ACME Solar Shares Jump After Raising Rs 2800 crore through QIP; Seen 65% Surge In Six Months
Key investors who have participated in the QIP included Nippon India Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, and SBI Life Insurance, among others.
Indices trade with significant cuts; consumer durables share advance
The Nifty traded below the 23,750 mark. Consumer Durables shares advanced after declining for previous trading session.
Nifty trades below 23,800 level; European mrkt advance
The key equity benchmarks traded with modest cuts in the afternoon trade as investors monitored escalating geopolitical and political tensions in the Middle East. The Nifty traded below the 23,800 level.
Sensex jumps 134 pts; IT shares advance
The Nifty traded above the 23,900 level. IT shares advanced after declining for previous trading session.
Monetise idle household gold, ease compliance burden to build Viksit Bharat: Kotak MF's Nilesh Shah
Nilesh Shah of Kotak Mutual Fund suggests India must unlock its vast household gold reserves. He also calls for easing business regulations. These steps are crucial for India's development. He highlighted significant gold imports and the potential of gold financing. Entrepreneurs are driving innovation despite challenges. Support for businesses is vital for global competition.