11:40 AM
Mankind Pharma rallies 5% after 3.7 mn shares change hands via block deal
In the March quarter of FY24, Mankind Pharma reported a significant increase in net profit, rising by 65.1 percent year-on-year to Rs 471.2 crore, compared to Rs 285.4 crore in the corresponding period of the previous year. READ MORE
11:28 AM
Emcure Pharma lists at 31% premium; should you buy, sell or hold the stock?
The robust debut follows an overwhelming response to Emcure Pharma’s IPO which saw an overall subscription rate of 67.87 times. The retail category was subscribed 7.36 times, while the Qualified Institutional Buyers (QIB) category saw an astonishing 191.24 times subscription. Additionally, the Non-Institutional Investors (NII) category was subscribed 49.32 times. READ MORE
11:05 AM
RVNL surges 10% multiple order wins; stock up over 200% thus far in 2024
The market price of RVNL has zoomed 88 per cent from its previous month’s low of Rs 312, touched on June 5. Besides, thus far in the calendar year 2024, RVNL share price has skyrocketed 223 per cent as compared to 11 per cent rise in the benchmark index. READ MORE
10:49 AM
KIMS stock zooms 4% on acquiring 200-bed multi-specialty hospital in Vizag
B Bhaskara Rao, CMD, KIMS Hospitals said “This is our 2nd Hospital in Visakhapatnam (KIMS-ICON Hospitals was acquired in 2018). It underscores the tremendous opportunity we see in this city and we’ll continue to look for inorganic opportunities to build on our dominant position in Andhra Pradesh. With the addition of Queens’s NRI Hospital, we now have over 630 beds in Vishakapatnam to provide world class healthcare facilities.” READ MORE
9:51 AM
Comment :: ‘Global rally, retail flows supporting Indian markets’
Two important factors that have been contributing to the ongoing bull market in India are the global rally and the sustained flows into the Indian market from retail investors. These two factors continue to be intact.
The flows into the market from retail investors continue unabated with SIP inflows touching Rs 21262 crores in June. These positive trends can impart resilience to the market even though valuation comfort is low now.
However investors should be careful about the high level of speculative activity in the small-cap space where operators are driving up the prices of many shares with low floating stock.
The inflation data in the US expected on Thursday will determine the Fed action in September. The disinflationary trend in the US is likely to sustain enabling the Fed to cut rates in September.
Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
9:42 AM
Delta Corp drops over 3% post Q1 results
>> The online gaming firm reported a 68.04 per cent year-on-year decline in net profit to Rs 21.7 crore for the first quarter ended June 30, 2024.
>> Revenue from operations also decreased by 30.3 per cent to Rs 180.7 crore compared to Rs 259.3 crore in the corresponding period of the preceding fiscal.
9:40 AM
RVNL sprints 9% on order win from South-Eastern Railway
>> The state-owned firm emerged as the lowest bidder for a project worth Rs 202.87 crore from the South Eastern Railway. The project includes the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts, and sub-sectioning posts in a 2x25KV system on the Kharagpur-Bhadrak section of the Kharagpur division.
