Broker’s call: Bharti Airtel (Buy)
Target: ₹935 CMP: ₹799.70 Rural expansion and 5G deployment underway Airtel is in the process of strengthening its network with rural expansion and the rollout of 5G services. In 4QFY23, Airtel had the highest quarterly tower additions in its history. This led to double-digit 4G and post-paid subscriber growth y-y and lower churn. However, the […]
Orchid Pharma promoters’ shares frozen for non-compliance with SEBI norms
Orchid Pharma on Wednesday said stock exchanges have started freezing the shares of its promoters for the company’s failure to comply with market regulator SEBI’s minimum public shareholding norms within the stipulated time period. Under SEBI norms, listed companies are required to have a Minimum Public Shareholding (MPS) of 25 per cent and stock exchanges […]
Weak US, China economic data impact crude oil prices
Crude oil traded marginally higher on Wednesday morning following weak economic data from the US and China and an unexpected increase in crude oil inventories in the US. At 9.54 am on Wednesday, July Brent oil futures were at $75.02, up by 0.15 per cent, and June crude oil futures on WTI were at $70.92, […]
SEBI to expand list of QIB entities in debt market
Market regulator SEBI has proposed to include 10 different categories of entities including multi-State co-operatives with ₹500-crore networth, NBFCs, housing finance companies, pension funds, small finance banks, reinsurers and refinancing agencies such as MUDRA under the definition of qualified institutional investors for investment in debt securities and further develop the debt market. The other […]
NSE net profit rises 31% to ₹2,067 crore in March quarter
The National Stock Exchange (NSE) on Monday reported a 31 per cent rise in consolidated net profit at ₹2,067 crore for the three months ended March this year. In comparison, the exchange had posted a net profit of ₹1,580 crore in the year-ago period, NSE said in a statement. The consolidated income from operations stood […]
SEBI cautions on premature conclusion of Adani probe
Securities and Exchange Board of India (SEBI) told the Supreme Court on Monday that any incorrect or premature conclusion of its investigation into the Adani group’s possible lapses of regulatory disclosures will be legally untenable and not serve justice. SEBI on April 29 had sought six months to complete its probe, rather than the two […]
FPIs invest ₹23,152-crore in Indian equities in May so far
Foreign portfolio investors’ (FPIs) net investments in Indian equities have touched a six-month high in May so far, with analysts saying the momentum is expected to continue on the back of increased favour for Indian securities. After net selling Indian equities for the first two months of 2023, FPIs net invested ₹23,152 crore in equities […]
Adani Enterprises, Adani Transmission to raise up to ₹21,000 crore
Adani Enterprises, which had to cancel its ₹20,000-crore follow-on public offer in February following minimal retail participation, is now again back to raise up to ₹12,500 crore through a private placement of shares. Another group company Adani Transmission will also be raising up to ₹8,500 crore through a similar mode, for a combined amount of […]
Will gold be the top-performing asset class in FY24?
Gold should definitely give a positive return over a longer horizon till the time there is a trade deficit. As with trade deficit, the Indian rupee (INR) keeps depreciating over a period and even if the international gold price stays stable. In India, gold prices move north over a period of time. Gold has been […]
Orchid Pharma shares hit 52-week high on turnaround results
Shares of Orchid Pharma on Friday hit a 52-week high of ₹435.45 apiece on NSE after the company reported a turnaround in its financial performance. The Chennai-based company recorded a net profit of ₹55.24 crore for 2022-23 against a net loss of ₹56.89 crore for 2021-22. The company’s share on the NSE hit the 5 […]