Latest Stock Market News

Prudent Corporate Advisory Services reported a 51% year-on-year (YoY) increase in revenue from operations, reaching Rs 286 crore for quarter ended September 2024, driven by a 53% rise in quarterly average AUM in mutual funds and a 36% growth in non-mutual fund revenue.

Oil prices rose driven by unexpected drops in U.S. crude and gasoline inventories and potential delays in OPEC+ output increases. Brent and WTI futures gained after a significant mid-week rally. Analysts attribute the rise to stronger-than-anticipated fuel demand and potential postponement of OPEC+ production hikes.

The yen is under pressure as the Bank of Japan is expected to maintain ultra-low interest rates. The dollar has paused ahead of U.S. jobs data and the presidential election. Economic data from China and nonfarm payrolls in the U.S. also hold investor interest this week.

Facebook owner Meta saw net income and revenues top expectations on Wednesday as the company said it would expand investments into artificial intelligence, drawing nervousness from investors. Like its Big Tech peers, Meta is rushing into artificial intelligence as it tries to build revenue streams away from its social media core business.

Samsung Electronics reported a higher profit for the third quarter compared to last year, albeit with a slower recovery pace. The company faces challenges in monetizing the AI boom amid competition from TSMC and SK Hynix. Its chip division saw a decrease in profits, and the mobile devices business also experienced a dip in operating profit.

Shares of Colgate-Palmolive (India), Patanjali Foods, and Oberoi Realty will be in focus today as these companies have announced record dates for declared dividends. Today is the last day to purchase shares to qualify for the dividends, with Colgate-Palmolive issuing an interim dividend of Rs 24 per share.

Tata Investment Corporation (TICL) shares are in focus as they announce quarterly earnings today. TICL, a Tata Group NBFC, saw a 149% revenue jump in Q1FY25 over Q4FY24 but a decline from the previous year. The stock has delivered a 120% return over the last year.

L&T posted a 5% increase in net profit for Q2FY25, reaching Rs 3,395 crore. The company achieved consolidated revenue of Rs 61,555 crore, a 21% growth year-on-year. International revenues accounted for 52% of total revenues. The order book stood above Rs 5 lakh crore, indicating strong performance across various segments.

The company reported a net profit (before exceptional items) of Rs 1533 crore in the September 2024 quarter, compared with Rs 1,017 crore in the year-ago quarter. This is an increase of 51% year-on-year.

Foreign portfolio investors turned net sellers at Rs 4,613 crore on Wednesday. DIIs bought shares worth Rs 4518 crore.