HDFC Securities recommends buying ICICI Bank shares with a target price of Rs 1,370. ICICI Bank showed strong financial performance in the latest quarter and reported a net profit of Rs 12,947.77 crore. The bank growth was driven by business banking, SME, rural and credit card segments, with healthy deposit growth and maintained asset quality.
Where are PSU stocks headed & will banks make a comeback? Raamdeo Agrawal answers
Raamdeo Agrawal suggests investors should consider public sector and private sector stocks based on their merits, rather than distinguishing them. He highlights the strong performance of PSU banks and the revival potential of private sector banks. He also stresses the importance of balanced speculation in the market and praises promising management teams, especially in the digital sector.
Ambuja Cements shares in focus ahead of Q2 earnings today. Here’s what to expect
Ambuja Cements’ shares are set to be a focus as the company announces its Q2 earnings. Expected are a 43%-61% YoY profit drop and flat to 3% decline in revenue. Forecasts suggest lower PAT, EBITDA, and EBITDA margin due to weak realisations and price weakness.
CDMO is the biggest theme; select companies can grow 5 times in next 10 years: Madhusudan Kela
Geopolitical tensions between the US and China are pushing contract manufacturing business to India. Madhusudan Kela believes that the Contract Development & Manufacturing Organization (CDMO) sector could grow five-fold in the next decade. He emphasizes the importance of flexibility and having an open mind in investment strategies, highlighting the significance of climate change and remembering influential market figures.
Titagarh Rail Q2 Results: PAT jumps 14% YoY to Rs 81 crore, revenue up 13%
Titagarh Rail Q2 Results: Titagarh Rail Systems posted a 14% increase in consolidated net profit for the September quarter, reaching Rs 81 crore. Revenue from operations rose by 13% to Rs 1,057 crore. While the freight rail systems revenue grew to Rs 1,000 crore, revenue from passenger rail systems dropped to Rs 57 crore. Total expenses were Rs 953 crore.
IDFC First Bank Q2 Results: Standalone net profit falls 73% YoY to Rs 201 crore on provisions, NII jumps 21%
IDFC First Bank reported a 73% drop in its September quarter standalone net profit at Rs 201 crore versus Rs 751 crore reported by it in the year ago period. However, the Net Interest Income (NII) grew 21% to Rs 4,788 crore in Q2FY25 versus Rs 3,950 crore in the year ago period.
Crypto’s ‘too big to fail’ token Tether faces new threat from US
A potential crackdown on Tether Holdings Ltd., the issuer of USDT, could have a significant impact on the cryptocurrency industry. Tether, the third-largest cryptocurrency, plays a crucial role as a stand-in for the US dollar in crypto markets. If Tether were to fail, it would be disastrous for the crypto economy. Tether CEO Paolo Ardoino denied the allegations, stating that there is no indication that Tether is under investigation.
Nvidia overtakes Apple as world’s most valuable company
Nvidia has surpassed Apple to become the world’s most valuable company. This shift is due to the high demand for Nvidia’s supercomputing AI chips. Nvidia’s stock soared and its market capitalization briefly reached $3.53 trillion, compared to Apple’s $3.52 trillion. The company’s gains are also bolstered by strong demand from AI companies like OpenAI.
ET Market Watch: Rs 6L Cr investor wealth wiped out from markets! 5 factors that fuelled today’s selloff
Zee Media Corp Q2 Results: Net loss widens to 49.86 crore, revenue down 13%
Private news broadcaster Zee Media on Friday said its consolidated net loss widened to Rs 49.86 crore for the second quarter ended September 2024. The company had posted a net loss of Rs 30.70 crore during the July-September quarter of the previous fiscal, according to a regulatory filing from Zee Media Corporation Ltd (ZMCL).