Share Market News and Buzz: The Ultimate Blog for Stock Market News and Tips

Exide Industries - Reports healthy performance in Q1FY24 Exide Industries Ltd, is an Indian multinational storage battery manufacturer company, headquartered in Kolkata. It is the largest manufacturer of automotive and industrial lead-acid batteries in India and fourth largest in the world. It has plants in India and Sri Lanka and dealership network in 46 countries spanning 5 continents. The company has reported a healthy performance in the first quarter of the financial year 2023-24. The company has posted a 7% year-on-year growth in net profit and a 4.4% year-on-year growth in revenue, despite facing challenges from the second wave of the COVID-19 pandemic and rising raw material costs. Key Highlights of Q1FY24 Total operating income for the quarter came in at ₹4,073 crore, up 4.4% YoY. EBITDA for the quarter came in at ₹432 crore with corresponding EBITDA margins at 10.6% (up 20 bps QoQ). PAT in Q1FY24 stood at ₹242 crore (up 16% QoQ, 7% YoY). The company achieved ma...

Top Dividend Paying Companies in FY23 Dividends are the part of a company’s profits that are given to its shareholders. Dividends can provide a regular income and a sign of a company’s financial health. However, investors need to look at other factors such as earnings growth, payout ratio, dividend history, and industry outlook. In this blog post, we will look at some of the top dividend paying companies in India for FY23, based on their dividend announcements as of July 2023. These companies have paid out high dividends, while also doing well in their businesses. We will also discuss why they paid high dividends and what are their future plans. TCS TCS is the largest IT services company in India and one of the leading global players. TCS provides various services such as consulting, digital transformation, cloud computing, analytics, artificial intelligence, and cybersecurity. TCS paid a total dividend of Rs 42,090 crore in FY23, which is 4.2% of its share price of Rs 3,15...

Equitas Small Finance Bank posts 91.1% YoY growth in Q1 net profit Introduction Equitas Small Finance Bank Limited is a listed public company that provides banking and financial services to its customers. The bank was founded in 2016 as a microfinance lender and is a subsidiary of the holding company Equitas Holdings Ltd. The bank has its headquarters in Chennai, Tamil Nadu, and operates in 11 Indian states with over 400 branches. The bank’s vision is to be a socially responsible bank that provides financial inclusion and empowerment to its customers through innovative and affordable solutions. Q1 financial highlights Equitas Small Finance Bank, one of the leading private lenders in India, has announced its financial results for the first quarter of the fiscal year 2023-24. The bank has reported a net profit of Rs 191.2 crore for the quarter that ended on June 30, 2023, registering a 91.1 percent year-on-year (YoY) growth compared to Rs 100 crore in the same period last yea...

Thangamayil Jewellery: A Trusted Name in Gold, Silver and Diamond Jewellery Thangamayil Jewellery Ltd is one of the leading retail jewelers of gold, silver, and diamond jewelry in Tamil Nadu. The company was founded in 1947 by Mr. Balusamy Chettiar in Madurai and has since grown to become a household name in the state. The company is known for its quality products, competitive prices, customer service, and ethical business practices. The company has recently posted its highest-ever quarterly revenue of ₹959 crore for the first quarter of the financial year 2023-24. This is a remarkable achievement that reflects the company’s strong performance in a challenging market environment. How Thangamayil Jewellery Achieved Record Quarterly Revenue The company attributed this stellar performance to a strong rally in gold prices and higher price realization and growth in sales across product categories. The net profit of the company witnessed a three-fold jump to ₹59 crore during the ...

Modi’s dream of making India a semiconductor hub has come true with AMD’s investment. The American semiconductor giant has announced plans to invest $400 million over the next five years to expand its research, development and engineering operations in India. This investment will create the world’s largest AMD design center in Bangalore and generate about 3,000 engineering jobs. AMD’s investment is a huge boost for India’s semiconductor industry and a validation of Modi’s vision of a self-reliant India in this crucial sector. In this blog post, we will explore how AMD’s investment will benefit India’s economy, technology and innovation. How AMD is Boosting India’s Semiconductor Industry with its $400 Million Investment Semiconductor, the most talked about and discussed issue in the Indian trade sector for the past few months, has created a new demand in the semiconductor sector due to the China-US dispute. India has emerged as a platform to address this demand. While the ne...

Accelya Solutions India Ltd: A Hidden Gem in the Airline and Travel Industry Accelya Solutions India Ltd (ASIL) is a leading provider of software solutions and services to the global airline and travel industry. The company offers a comprehensive portfolio of products and solutions that cover revenue accounting, audit and revenue recovery, payment solutions, data analytics, cost management, and more. ASIL is a publicly traded company listed on the Indian stock exchange with a market capitalization of only Rs 2114 crore as of February 2023. Why ASIL is a Great Investment Opportunity ASIL has several factors that make it an attractive investment opportunity for long-term investors. Here are some of them: Strong customer base: ASIL serves over 400 customers across 80 countries, including some of the world’s leading airlines such as Emirates, Lufthansa, British Airways, Air France-KLM, Qatar Airways, Singapore Airlines, and more. ASIL also has strategic partnerships with i...

Bharat Forge Gets Green Light to Make Small Arms and Ammo for Defence Bharat Forge, a leading manufacturer of forged and machined components, has received a license from the Ministry of Home Affairs to make small arms and ammunition for defence purposes. This will enable the company to participate in potential defence programs in the future and boost its revenues. What does the license mean for Bharat Forge? The license, granted under Arms Rules, 2016, allows Bharat Forge to manufacture and supply small arms and its ammunition to the Indian Armed Forces and other security agencies. Small arms include pistols, revolvers, rifles, carbines, sub-machine guns, light machine guns and grenade launchers. This is a significant achievement for Bharat Forge, as it expands its product portfolio and capabilities in the defence sector. The company has been investing in developing defence technologies and products for the past few years, and has established a strong presence in the domest...

Cipla Shares Soar 12% After Strong Q1 Results; Why You Should Consider This Pharma Stock Cipla, one of the leading pharma companies in India, has delivered impressive results for the first quarter of FY24, beating market expectations and registering double-digit growth across its key markets. The stock price surged by nearly 12% on Thursday, hitting a new 52-week high and adding to its 21% gain in the past year. Cipla’s strong performance was driven by its diversified portfolio, robust demand in India, the US, and South Africa, and cost efficiencies. The company also announced a new subsidiary to cater to the rural markets in India. Here are some of the reasons why Cipla is an attractive pharma stock to buy. Strong Growth Across Verticals Cipla reported a 17.7% year-on-year increase in revenue from operations to Rs 6,329 crore in Q1 of FY24, driven by strong performance in India, the US, and South Africa. The company’s net profit jumped by 45.1% year-on-year to Rs 996 crore...

IEX Q1 Results: How the Power Trading Exchange Fared Amid Market Uncertainty A detailed analysis of the company’s financial performance, stock movement, and future outlook IEX, India’s leading power trading exchange, has announced its Q1 results for the financial year 2023-24. The company has reported decent growth in its net profit and revenue, despite facing some challenges in the market. However, the company’s share price declined sharply after the news of market coupling came out. In this article, we will take a closer look at the key highlights of the company’s Q1 results, what are the factors affecting its stock price, and what are the opportunities and risks ahead for the company. Key Highlights of Q1 FY24 Net profit increased by 9.6% year-on-year to Rs 75.8 crore, compared to Rs 69.12 crore in Q1 FY23. Revenue from operations rose by 5.7% year-on-year to Rs 104 crore, compared to Rs 98.35 crore in Q1 FY23. Total income increased by 12% year-on-year to Rs 127.36 cror...

Intense Technologies: A Stellar Performer in the IT Sector Intense Technologies, a leading IT company and software solutions provider for digital transformation, has delivered impressive financial results for the quarter ended June 2023. The company has reported robust growth in its net sales, net profit, and EBITDA, reflecting its strong operational efficiency and customer satisfaction. Key Highlights of Q1 FY24 Net sales increased by 40.77% year-on-year to Rs 21.34 crore, driven by higher demand for its products and services across various verticals such as telecom, banking, insurance, and government. Net profit surged by 122.7% year-on-year to Rs 2.17 crore, owing to improved margins and lower expenses. EBITDA rose by 75.98% year-on-year to Rs 3.59 crore, with an EBITDA margin of 16.82%, up from 13.44% in Q1 FY23. EPS (earnings per share) doubled to Rs 0.93 from Rs 0.43 in Q1 FY23, indicating a strong earnings potential for the shareholders. What Makes Intense Techno...

Vedavaag Systems Ltd: A Potential Midcap in the Making Introduction :  Are you looking for a potential midcap stock in the small-cap segment that offers e-governance, fintech, edutech, healthcare, logistics, and other services using emerging technologies such as AI, ML, IoT, and cloud? If yes, then you might want to check out Vedavaag Systems Ltd (BSE: 533056), a company that has been delivering innovative and customer-centric solutions to various sectors and segments of society since 1998. In this blog post, we will explore the company’s history, achievements, products, financial performance, and future prospects, and see why it is a promising midcap candidate in the small-cap segment. Vedavaag Systems Ltd (BSE: 533056) is a company that provides e-governance, fintech, edutech, healthcare, logistics, and other services using emerging technologies such as AI, ML, IoT, and cloud. The company was established in 1998 and is headquartered in Hyderabad, Telangana. It has ope...

Rathi Steel & Power Limited: A Stock to Watch Out for in 2023 Rathi Steel & Power Limited (RSPL) is a leading manufacturer of steel products in India. The company has two manufacturing units, one in Ghaziabad, Uttar Pradesh, and another in Sambalpur, Odisha. The company produces TMT bars, wire rods, and sponge iron for various sectors such as infrastructure, construction, engineering, and automotive. The company is part of the P.C. Rathi Group, which has a legacy of over seven decades in the steel industry. The group was founded by the late Seth Gordhan Das Rathi, who set up a small re-rolling mill in Delhi in the early 1940s. Since then, the group has grown continuously and diversified into various segments of steel production. Why Rathi Steel & Power Limited is a Stock to Watch Out for in 2023? Rathi Steel & Power Limited has been witnessing a strong performance in the stock market in recent times. The stock has been hitting back-to-back upper circuits and...

UltraTech Cement: A Leader in Cement Industry with Robust Expansion Plans UltraTech Cement, India’s largest cement manufacturer and a part of the Aditya Birla Group, is on a growth path with a vision to become one of the top three cement producers in the world. The company has recently commissioned a new 1.3 mtpa brownfield cement capacity at its Sonar Bangla unit in West Bengal, taking its overall capacity to 131.25 mtpa. This is part of its phase-1 expansion plan, which will add 19.9 mtpa of incremental capacity across its plants in India by FY23. The company has also embarked on phase-2 expansion plan, which will take its capacity to 154 mtpa by FY25-26E. The company has also set an ambitious target of reaching 200 mtpa by 2030. In this blog post, we will explore how UltraTech Cement is expanding its capacity and becoming a global leader in the cement industry with its vision and performance. UltraTech Cement, India’s largest cement manufacturer and a part of the Aditya ...

How Delta Corp Shares Fell 28% on GST Hike for Online Gaming and Casinos Delta Corp Ltd, the leading gaming and entertainment company in India, faced a massive blow on Wednesday as its shares plunged 28% to hit a 52-week low of Rs 175.65 on BSE. The reason behind this steep fall was the GST Council’s decision to increase the GST rate on online gaming, horse racing, and casinos from 18% to 28%. This move will have a significant impact on the profitability and growth prospects of Delta Corp, which operates online gaming platforms like Adda52 and PokerHigh, as well as three offshore casinos and one land-based casino in Goa. Why GST Hike is Bad News for Delta Corp The GST hike on online gaming and casinos will affect Delta Corp in multiple ways. First, it will increase the tax burden on the company, which will reduce its net profit margin. According to analysts, the GST hike will reduce Delta Corp’s earnings per share (EPS) by 10-12% for FY24. Second, it will make online gaming...

Railways to Spend INR 1 Trillion on Signalling Systems Upgrade The Indian Railways has announced a massive investment plan of INR 1 trillion over the next six years to revamp its signaling systems and prevent accidents like the Balasore rail tragedy that occurred in June 2023. The incident, which involved a collision of three trains, claimed 12 lives and injured over 100 passengers. The signaling systems are crucial for ensuring the safe and efficient movement of trains on the network. They control the speed, direction, and distance of trains, as well as alert the drivers and station masters of any potential hazards or conflicts. However, the existing signaling systems are outdated and prone to human error and technical failures. They rely on electro-mechanical devices that require manual operation and maintenance and are often affected by weather conditions and power fluctuations. To overcome these challenges, the railway has decided to replace the old systems with modern ...

Results Season: Elecon Engineering Q1 FY24 The results season for the first quarter of the financial year 2024 has begun and we are here to bring you the latest updates on the performance of the companies in our exhaustive list of 103. We will also add new ones as we keep finding gems in the market. The first one to be out today is Elecon Engineering - a leading manufacturer of material handling equipment and industrial gear systems. The stock is 17% up and almost nearing the upper circuit 🚀🚀🚀 Fantastic Results 🔥👍 Elecon Engineering has reported strong results for Q1 FY24, beating market expectations. Here are some of the highlights: The revenues are 26% higher year on year at Rs 414 crore, compared to Rs 329 crore in Q1 FY23. The net profits jumped 73% higher year on year to Rs 73 crore, versus Rs 42 crore in Q1 FY23. The operating profit margin (OPM) and EBITDA margin expanded by 440 basis points year on year to 25.6% and 27.4%, respectively. The company has reduce...

XCHANGING SOLUTIONS: A High Dividend Tech Stock to Watch If you are looking for a tech stock that pays a high dividend and has a strong presence in the insurance market, you might want to check out XCHANGING SOLUTIONS. The company recently declared an interim dividend of Rs 15 per share for FY 2023-24, which translates to a whopping 17% dividend yield on the share price of Rs 88 (pre-announcement). The market reacted positively to the news, as the stock price jumped to Rs 102 (CMP) after the announcement. XCHANGING SOLUTIONS is an IT company and a leading provider of services and technology for The London insurance market, which is one of the largest and most complex insurance markets in the world. The company’s flagship product, Xuber, is a software platform that enables insurance and reinsurance companies to manage their business processes, data, and analytics. Xuber is used by 200 global insurance and reinsurance companies across 46 countries, delivering critical techno...

Intraday trading is a form of short-term trading where traders buy and sell securities within the same day. Intraday traders use various strategies to profit from small price movements. Today, the Nifty index is up by around 80 points. But do you know which stock is responsible for most of this gain? The answer is Reliance Industries Limited (RIL), the largest company in India by market capitalization. RIL has contributed about 84 points to the Nifty’s rise, which means it is single-handedly keeping the market in green territory. How did this happen and what does it mean for intraday traders? What is RIL and Why is it Important? RIL is a diversified conglomerate that operates in various sectors, such as oil and gas, petrochemicals, telecom, retail, and digital services. RIL is one of the most influential stocks in the Indian market, as it has a high weightage in the Nifty index. The Nifty index is a benchmark index that tracks the performance of 50 large and liquid companie...