Latest Stock Market News

Bharti Airtel is poised for strong growth in revenue and EBITDA from FY24 to FY27, aided by anticipated tariff hikes and decreased capex. The company generated $2.3 billion in free cash flow over the last year and aims to reduce its debt. Mobile revenue and ARPU rose, with further gains expected from recent price hikes.

The Union Budget FY25 prioritized defence improvements and listed 346 items for indigenisation. ICICI Securities recommended investing in Solar Industries, Azad Engineering, Zen Technologies, Astra Microwave, and Dynamatic Technologies. The budget saw substantial increases in aircraft and aero engine allocations while maintaining stable funding for other defence areas.

TVS Motor Q1 Results: Standalone revenue from operations for the quarter rose by 16% YoY to Rs 8,376 crore as against Rs 7,218 crore in the year-ago quarter. In the first quarter of FY25, the company achieved its highest-ever operating EBITDA of Rs 960 crore, marking a significant 26% increase compared to the Rs 764 crore recorded in Q1 of FY 2023-24.

The stock quoted a 52-week high price of Rs 470.5 and a 52-week low of Rs 262.1.

By 11:57 am, the offering had received bids for 2,499,360 shares, which is about 5% of the total 4,963,9004 shares available. Retail investors filled 23% of their allocated quota, while non-institutional investors filled 3%. Qualified institutional buyers did not participate in the bidding at this time.

The Relative Strength Index of the stock stood at 46.59 on Tuesday.

Ajay Srivastava discussed the challenges and strategies in stock market investment, emphasizing the importance of selecting and selling stocks wisely amid current market volatility. He noted the growth potential in the insurance sector and cautioned against certain PSU and overpriced chemical stocks, advocating for long-term investment in fundamentally good stocks.

Political unrest in Bangladesh caused shares of Saffola edible oil producer Marico to drop over 4%, as the company generates 11-12% of its revenue from the country. Several other companies with operations in Bangladesh, including Pearl Global Industries, Emami, Bayer Corp, GCPL, Britannia, Vikas Lifecare, Dabur, Asian Paints, Pidilite, Jubilant Foodworks, and Bajaj Auto, could also be affected by the ongoing turmoil.

As of 30-Jun-2024, promoters held 38.12 per cent stake in the company, while FIIs held 27.19 per cent and domestic institutional investors had 13.71 per cent.

Amid political turmoil in Bangladesh potentially driving textile companies to outsource to countries like India, textile stocks surged on Tuesday. Gokaldas Exports, Century Enka, and SP Apparels saw gains of up to 18%. Gokaldas Exports hit a 52-week high of Rs 1,089.40 on the NSE, driven by expectations of increased textile exports from India.