After a record-breaking performance in the previous trading session, Indian market struggled to maintain those gains today, with frontline indices losing over 1%. This decline was influenced by a sell-off in global peers, driven by weak US manufacturing and labor market data that reignited recessionary fears. Sector-wise, the metal sector was the hardest hit, with … Read more
Total revenue from operations fell to 58,687 crore from ₹63,131.08 crore in the same quarter of last year, owing to a nearly 4% drop in its mainstay India business, which contributed at least 62% of the overall revenue. The revenue from India’s business dropped to ₹36,635 crore from ₹38,048 crore in Q4 FY23. Also Read: … Read more
Metals companies are expected to report a mixed bag for the three months ended March (Q4FY24), with ferrous metal companies projected to see a drop in profits, while non-ferrous metal firms would likely be on a strong footing. Despite an increase in volume, ferrous metal companies suffered from a decline in prices, worsened by higher … Read more
Shares of Bajaj Auto, Adani Ports & Special Economic Zone, Tata Steel, Larsen & Toubro hit their fresh 52 wk highs today. Nifty 50 was down by -37.9(-0.17%) points and Sensex was down by -226.64(-0.31%) points at 02 Apr 2024 10:59:58 IST.Bank Nifty was up by 17.9(0.04%) at 02 Apr 2024 10:44:59 IST.In the BSE … Read more
Foreign brokerage firm CLSA has reiterated its cautious stance on the Indian steel sector citing higher valuations and incremental shift in the profit pool towards miners. The brokerage has downgraded Tata Steel to ‘Sell’ from ‘Outperform’ and cut its target price to ₹135 from ₹145 per share. It has also downgraded JSW Steel to ‘Sell’ … Read more