Market Bizzz

Harendra Kumar anticipates GDP growth over the next five to ten years to come from sectors that traditionally never existed in India. For example, EMS players are doing really well. A huge semiconductor ecosystem is going to come. We are going to see a listing of EV players. Midcaps show greater growth potential. Auto sector expected to yield big returns.

The stability of the U.S. dollar contributed to making bullion less accessible for international buyers. Meanwhile, investors remained on the lookout for additional indications regarding the timing of the U.S. Federal Reserve’s inaugural interest rate adjustment.

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FIIs and mutual funds consistently increase stakes in 12 smallcap stocks for four quarters, yielding up to 203% returns. Notable stocks include Dixon Technologies, Electronics Mart India, and Welspun Corp.

IDFC First Bank Q4 Results: IDFC First Bank announced a net profit of Rs 724.35 crore for the quarter ending on March 31, marking a decrease from Rs 802.62 crore reported in the corresponding period last year. In the January-March quarter, IDFC First Bank recorded an interest income of Rs 8,219.21 crore, showing an increase from Rs 6,424.35 crore reported in the same period a year ago. This signifies a 28% rise on a year-on-year basis.

Yet unless you’re constantly pulling out a calculator, you’re unlikely to know whether your wages are keeping up with inflation, whether the stock market has actually hit a real peak or whether a lottery jackpot is as sweet as the marketers claim.

India’s second largest private lender ICICI Bank today reported a standalone net profit of Rs 10 707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period.

Investors cheered Alphabet’s first-ever dividend, its $70 billion stock buyback program, and better-than-expected first-quarter results. Its shares jumped 10% and reached a record high, lifting the Google-parent’s market value above $2 trillion.

The company said it expects SUVs to remain the dominant category in the Indian market, adding that it will continue to launch new vehicles in the segment to strengthen its market share. However, small car sales, once its bread and butter, are unlikely to revive in the next two years, it said.

​​The company’s revenue from operations soared by 108% to 2,141.3 crore from 1,027.4 crore in the previous year. For FY24, the company posted a consolidated net profit of 2,446 crore, reflecting a 161% growth over the previous fiscal year. The board has approved the issuance of three bonus shares for every one share.