Tag: Buzzing Stocks

Tata Communications up 9% as co posts stellar 84% rise in profit in June quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shares of Tata Communications jumped as much as 9.17 percent to Rs 1,069.5 on Thursday, a day after the telecommunications company reported an 84 percent year-on-year increase in profit after tax (PAT) for the quarter ended June 2022.

The company had reported a profit of Rs 296.11 crore in the same period a year ago, it said in a regulatory filing.

At 2:20 pm, the shares of Tata Communications were trading 8.09 percent up at Rs 1,059. The stock gained after two days of consecutive fall.

Also Read: Havells India net profit rises to Rs 242.43 crore as revenues soar

Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) – a measure of a company’s overall financial performance – came in at Rs 1,077 crore – a 9.2 percent YoY increase, where margin stood at 25 percent, growing by 95 basis points YoY.

Consolidated revenue was reported 5.1 percent up, year-on-year, at Rs 4,311 crore. Tata Communications’ data business revenues were 7.6 percent up at Rs 3,340 crore.

Data Services segment continues to be the biggest contributor to the company’s business with revenue of Rs 3,353.44 crore followed by voice solution which contributed Rs 561.4 crore and transformation service of Rs 345.29 crore.

EBITDA increased to Rs 960 crore on the back of consistently delivering core connectivity and digital platforms and services.

AS Lakshminarayanan, MD and CEO, Tata Communications said that the company delivered a profitable data revenue growth as a result of disciplined execution, portfolio enhancements and deeper customer engagements.

“We continue to closely monitor and overcome the original equipment manufacturer (OEM) and supply chain challenges. We are pleased with the healthy growth in the order booking and funnel additions across our portfolio, both in India and international markets.”

In terms of investments and growth, he said, “We are a company that is focused on growth. As I said in quarter three of last year we are going to be investing more in sales and marketing. We have been investing in our platforms over the last several quarters, and those investments will continue. And as we make those investments and focus on growth, there will be costs that will come back in as people travel, both from a sales point of view and marketing expenses. So that is the reason why we said that we would operate in this range of 23-25 percent in the medium term.”

Catch latest market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Buzzing stock | Gufic Biosciences jumps 14%; here’s why

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”Gufic Bio” isinid=”INE742B01025″ bseid=”509079″ nseid=”GUFICBIO” sector=”Pharmaceuticals” exchange=”nse”]

Shares of Gufic Biosciences jumped over 14 percent on Tuesday. This was after the pharmaceutical company said that it has secured permission from Central Licensing Approving Authority, Central Drugs Standard Control Organisation, Ministry of Health and Family Welfare for the manufacture, sale and distribution of Isavuconazonium Sulfate API and finished formulation Isavuconazole for Injection 200 mg/vial.

Isavuconazole is indicated for the treatment of patients 18 years of age and older for the treatment of Invasive Aspergillosis and Invasive Mucormycosis.

Also Read | Delta Corp shares fall 4% after net profit falls 17%; under F&O ban on NSE today

Isavuconazole is a systemic antifungal drug of triazole class. The drug has already been approved by the US Food and Drug Administration on March 6, 2015, and European Medicines Agency on October 15, 2015.

Gufic Biosciences is engaged in the research and development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products. The company is known and respected for innovative and high-quality pharmaceutical and herbal products along with a wide range of Active Pharmaceutical Ingredients.

Also Read | Maruti Suzuki gains after co says fire incident will not affect production ops

At 11:28 am, shares of the pharmaceutical player gained 10.7 percent at Rs 274.45 on BSE. The scrip hit an all-time high at Rs 283.5 today.

The stock has gained after three days of consecutive losses.

Catch up on all LIVE stock market updates here. 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Banking stocks in limelight as Axis Bank, HDFC Bank, SBI, RBL Bank gain; should you buy, sell or hold?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Banking stocks were in the limelight on Thursday. Nifty Bank and Nifty Private Bank was up 2 percent, Nifty Financial Services gained nearly 3 percent while Nifty PSU Bank was up 1 percent.

“The entire market, including banking stocks, had fallen quite a bit in anticipation of the US Fed Outcome and now that the event has passed, investors are buying the dip,” said Vinit Bolinjkar, Head of Research, Ventura Securities.

In the past month, the Nifty Bank index fell nearly 3 percent and Year-to-Date, it was up merely 3 percent.

Also Read | Jefferies initiates coverage on Nykaa with ‘buy’ rating

Bolinjkar believes that a big capital expenditure cycle would mean corporate lending would improve, which will be a positive for lenders. Plus, non-performing assets have bottomed out, he feels.

He likes private banks and also prefers Canara Bank, State Bank of India and Bank of Baroda.

At 1357 IST, shares of Kotak Mahindra Bank, RBL Bank, Axis Bank, HDFC Bank, State Bank of India, Bandhan Bank, IndusInd Bank and Punjab National Bank were up about 1-4 percent.

Also Read | JPMorgan raises Coal India target price by 11%, maintains ‘overweight’ rating

Kkunal Parar, Vice President-Research at Choice Broking, believes large-cap banking stocks are a good buy in this market. He likes HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank in the large-cap space and sees upside potential of 8-10 percent.

According to Jay Thakkar of Marwadi Shares & Finance, RBL Bank is a buy with a stop loss of Rs 129 for targets of Rs 147-155.

Gurmeet Chadha, Co-Founder & CEO, Complete Circle Consultants believes private sector banks have seen a healthy correction.

“HDFC also, in particular, saw time correction before this price correction happened. I think they’ve gained market share, overall they carry cumulative and floating provisions which means if there are any credit shocks, later on, they have the ability to deal with it. So it looks very reasonable,” said Chadha.

Catch up on all LIVE stock market updates here.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

CNBC-TV18’s buzzing stocks for trade on January 24

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian market is likely to open lower as SGX Nifty50 futures were at 17,531.50, down 130 points, at 7:30 am, hinting at a negative opening for the domestic market. Reliance Industries, Vodafone Idea, UltraTech Cement, and Axis Bank are among the top stocks to watch out for in trade today. Here’s the full list of stocks that are in focus today:

Axis Bank, HDFC AMC, Ramco Cement, Zensar, Burger King, Oriental Hotels, Burger King India, SBI Cards and Payment Services, Shriram Transport Finance | These companies are scheduled to report their quarterly earnings today.

UltraTech Cement | The company’s officials will meet Fidelity International, and Fullerton Fund Management today.

Reliance Industries | The company reported a sharply higher consolidated profit at Rs 20,539 crore in Q3FY22 against Rs 14,894 crore in Q3FY21. Revenue rose to Rs 2,09,823 crore from Rs 1,37,829 crore YoY.

Vodafone Idea | The company posted a loss of Rs 7,230.9 crore in Q3FY22 against a loss of Rs 7,132.3 crore in Q2FY22, revenue rose to Rs 9,717.3 crore from Rs 9,406.4 crore QoQ.

Bandhan Bank | The bank reported a higher profit at Rs 859 crore in Q3FY22 against Rs 632.6 crore in Q3FY21, net interest income rose to Rs 2,124.7 crore from Rs 2,071.7 crore YoY.

Titagarh Wagons | The company’s subsidiary in Italy TitagaTrh Firema S.p.A. has signed the framework agreement for design, manufacture, supply and ten years of maintenance of 38 trainsets of Metro for Lazio Regione, Italy. The total value of the framework agreement is 282 million euros (equivalent to Rs 2,380 crore).

CSB Bank | The bank reported a higher profit at Rs 148.25 crore in Q3FY22 against Rs 53.05 crore in Q3FY21, net interest income increased to Rs 303.34 crore from Rs 251.18 crore YoY.

Tanla Platforms | The company reported a higher profit at Rs 158 crore in Q3FY22 against Rs 93.52 crore in Q3FY21, revenue jumped to Rs 884.92 crore from Rs 654.11 crore YoY.

Arvind Limited | The company’s officials will meet analysts and investors on January 27, to discuss financial performance.

Prince Pipes and Fittings | Mirae Asset Mutual Fund acquired 9.6 lakh equity shares in the company via open market transactions on January 13, increasing shareholding to 5.79 percent from 4.92 percent earlier.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow