Stock Market LIVE: Sensex off lows, down 350 points, Nifty below 24,250; HDFC Bank slips 3% | News on Markets
10:42 AM
Analysts positive on new age cos ahead of Q1 FY25 results; Zomato top bet
According to Nuvama, Zomato is expected to post a strong growth in Q1FY25, with expected revenue increasing by 11.5 per cent quarter-on-quarter (Q-o-Q) and a whopping 64.4 per cent year-on-year (Y-o-Y). Specifically, the adjusted revenue from their food delivery business is anticipated to grow by 5.3 per cent Q-o-Q and 23.9 per cent Y-o-Y, while Blinkit, their qCommerce segment, is forecasted to grow 29 per cent Q-o-Q. READ MORE
10:31 AM
ALERT :: Q1FY25 recorded consolidated revenue growth of approximately 27%, says Kalyan Jewellers
>> We saw revenue growth of approximately 29% for our India operations during Q1 FY2025 as compared to Q1 FY2024, led by robust operating momentum on the ground with healthy same-store-sales-growth of approximately 12%.>> In the Middle East, we witnessed revenue growth of approximately 16% when compared to the same period in the previous financial year, driven largely by same-store-sales growth. Middle East contributed ~15% to our consolidated revenue for the recently concluded quarter.
10:12 AM
Raymond rallies 7% as Board approves vertical demerger of real estate biz
The stock had hit a record high of Rs 3151.75 on July 1. Besides, it has bounced back 66 per cent from its previous month’s low of Rs 1,890 touched on June 4. At 09:30 AM, Raymond was trading 3 per cent higher at Rs 3,041 as compared to 0.68 per cent decline in the BSE Sensex. READ MORE
9:59 AM
RVNL hits fresh 52-week high on inking deal with DMRC; up 68% in 3 months
In an exchange filing, the state-owned company said, “RVNL has signed MoU with Delhi Metro Rail Corporation Limited (DMRC) for participation in the upcoming projects in India and abroad as project service provider for metro/ railways/ high speed rail/ highways/ mega bridges/ tunnels/ institutional buildings/ workshops or depots/ S&T works/ Railway electrification. READ MORE
9:37 AM
Mahindra Lifespace gains 4%; Co to redevelop 7 residential societies in Mumbai
>> The company, in an exchange filing, said that it has been chosen for the redevelopment of seven residential societies in Borivali West, Mumbai. The project offers an estimated gross development value of approximately Rs 1,800 crore.
9:30 AM
VST Industries rises 2% as Radhakishan Damani raises stake in Q1FY25
>> Radhakishan Damani has increased his stake to 3.47 per cent in the company, at the end of the June quarter, from 1.95 per cent at the end of the March quarter of FY24.
9:28 AM
Bajaj Auto rises 1% ahead of the launch of world’s first CNG bike
>> Bajaj Auto is all set to become the world’s first two-wheeler company to launch a CNG bike on Friday. While the Pune-based company is yet to reveal the name of the bike, reports claim it is expected to be in the 125 cc segment and will be named Freedom 125. The bike is likely to have flexible fuel options and will feature two separate switches for petrol and CNG.
9:27 AM
Raymond rallies 4% on demerger, listing plans of realty biz
>> In a regulatory filing on Thursday, textile major Raymond said the company’s Board has approved the scheme of arrangement of Raymond Ltd (demerged company) and Raymond Realty Ltd (resulting company).
>> As per the scheme of arrangement, each Raymond Ltd shareholder will receive one share of Raymond Realty for every one share held in Raymond Ltd.
>> As per the scheme of arrangement, each Raymond Ltd shareholder will receive one share of Raymond Realty for every one share held in Raymond Ltd.
>> That apart, the shares issued by Raymond Realty Ltd would be listed separately on the BSE and the National Stock Exchange of India (NSE).
9:26 AM
HDFC Bank falls over 3% on weak Q1 update
>> HDFC Bank’s gross advances stood at Rs 24.87 trillion as on June 30, compared to Rs 25.08 trillion on March 31 — down 0.8 per cent sequentially. Advances grew 14.9 per cent year-on-year (Y-o-Y), excluding the impact of the merger of erstwhile HDFC Ltd.
>> The deposit book as of June 30 was Rs 23.79 trillion, almost flat compared to the quarter ago period. Deposits grew 16.5 per cent Y-o-Y, excluding the impact of the merger.
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