INDIAN RAILWAY FINANCE CORPORATION LTD Q4 RESULTS
Lower Q2 GDP growth a temporary blip; eco to improve in coming quarters: Sitharaman
Finance Minister Nirmala Sitharaman addressed the Lok Sabha, attributing the lower-than-projected 5.4% Q2 GDP growth to a temporary setback. She emphasized India's sustained growth, averaging 8.3% over the past three years, and highlighted ongoing efforts to stimulate the economy through capital expenditure. Sitharaman expressed confidence in healthy growth in upcoming quarters.
Indian Oil aims to raise Rs 15,000 crore via debt
"About $500 million (of Rs 15,000 crore) could be raised through foreign currency loans and bonds, likely in February-March, by when another round of Fed rate cut could make foreign borrowing more attractive," Anuj Jain, director (finance), Indian Oil Corporation, told ET, adding that if the interest rate is attractive, the company could raise as much as $1 billion in foreign currency loans.
Retail investors lost interest in PSU stocks in Q2. Is it too early to sell?
Retail investors reduced their holdings in several PSU stocks during Q2 FY25 due to valuation concerns and election results. Despite the PSU index underperforming the Sensex over the past six months, some analysts remain optimistic about the sector's long-term prospects, citing government spending and growth in oil, gas, and utilities.
RITES shares soar 5% on winning $9.7 million order from Guyana
RITES shares rose by up to 5% to Rs 309.85 on BSE after securing a $9.71 million contract for engineering services to upgrade the Palmyra to Moleson Creek Highway in Guyana. The company was selected as the top bidder for the project by the Ministry of Public Works, Government of Guyana.
RITES shares rally over 4% after securing Rs 148.25 crore order from IIM Raipur
RITES shares rose 4.4% after securing a Rs 148.25 crore order from IIM Raipur for campus development. Despite lower Q2 profits, the company has seen over 18% gains this year.
SBI, NTPC among 53 PSU stocks to see retail holding go up in Q3CY24 vs Dec 2023 quarter
Retail investor interest in PSU stocks surged during the first nine months of 2024, with 53 companies seeing increased retail holdings. Thirty-three of these outperformed the Nifty, boasting returns between 14% and 150%. While some experts advise caution, others see opportunities in sectors like defense and banking, particularly SBI and Bank of Baroda.
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Red alert! 72 companies flip to loss in Q2. Are your stocks also on this list?
India's Q2 2024 earnings season disappointed. Many profit-making companies reported losses. Nifty earnings grew at the slowest pace since June 2020. Analysts point to a slowdown in several sectors. However, experts predict a recovery in the second half of the fiscal year. Increased government spending and strong festival demand are expected to boost growth.
Profit apocalypse! 10 companies with steepest losses in Q2. Who blew it worst?
Indian companies faced a profit slump in Q2 FY25, with several sectors reporting declines. Vodafone Idea, Sammaan Capital, and Indian Oil posted significant losses. Analysts downgraded earnings forecasts, citing weak consumption and government spending, but anticipate a recovery in the second half of the fiscal year.
India Inc's interest cover weakens with slipping top & bottom lines
Indian companies faced a decline in interest coverage ratio to 4.8% in the September quarter. This was due to rising interest costs and slower growth in operating profit. Interest costs surged by 7.2% year-on-year, while revenue growth slowed down to 4.9%. Higher working capital requirements and increased borrowings further impacted the ratio.
India Inc fares well in Sept quarter, minus oil & gas
Indian companies, excluding oil and gas, reported solid double-digit profit growth for the seventh consecutive quarter, although the pace of expansion slowed. While banks and finance companies performed well, overall earnings were subdued due to a higher base effect and rising interest costs.
PFC shares jump 7% post Q2 results; Brokerages maintain bullish outlook
PFC Share Price: Power Finance Corporation shares rose 9% after reporting a 9% increase in Q2 profit, driven by higher revenues and loan growth. Brokerages Bernstein and CLSA maintain 'Outperform' ratings.
IRFC among 5 stocks to trade ex-dividend tomorrow. Last chance to buy for eligibility
Indian Railway Finance Corporation (IRFC) and four other companies set November 12th as the record date for dividend eligibility. IRFC announced a dividend of Rs 0.8 per share. Other companies, including D-Link (India), Indraprastha Gas, PDS Ltd, and POWERGRID Infrastructure Investment Trust, also declared dividends.
RVNL shares fall over 5% after Q2 profit falls 27% YoY
RVNL Share Price: Rail Vikas Nigam Ltd (RVNL) reported a 27% YoY drop in Q2FY25 net profit to Rs 286.9 crore, impacted by lower margins and reduced earnings. Revenue declined 1.2% YoY to Rs 4,855 crore. However, sequentially, profit rose 28.1%, and revenue increased 19.2%. RVNL's shares surged 162% in 2024, currently trading at a P/E ratio of 77.8.
IRCTC shares fall 3% even as Q2 PAT rises 4% YoY
IRCTC reported a 4% rise in Q2 net profit to Rs 308 crore, driven by growth in catering and internet ticketing segments. Despite the profit increase, margins saw a slight dip. The company declared an interim dividend of Rs 4 per share. Following the results, IRCTC shares closed 2% lower on Monday.
IRFC shares in focus after muted Q2 results
Indian Railway Finance Corporation (IRFC) reported a 4% YoY rise in Q2 FY24 profit after tax (PAT) to Rs 1,612.65 crore, with revenue from operations up by 2%. The company declared an interim dividend of Rs 0.80 per share. IRFC shares have surged 113% over the past year but have declined 20% in the last three months.
IRCTC Q2 Results: PAT rises 4% YoY to Rs 308 cr; co declares dividend of Rs 4/share
The company reported consolidated revenue from operations of Rs 1,064 crore for the reporting period, a 7% increase from Rs 992 crore in the same period last year. The board has announced an interim dividend of Rs 4 per share with a face value of Rs 2 each for FY25. November 14 has been set as the record date to determine shareholder eligibility for the dividend distribution.
IRFC Q2 Results: PAT jumps 4% YoY to Rs 1,612 crore, revenue up by 2%
Indian Railway Finance Corporation (IRFC) reported a 4% YoY jump in net profit to Rs 1,612.65 crore in Q2FY25. Revenue from operations increased by 2% to Rs 6,899.34 crore. The company declared an interim dividend of Rs 0.80 per share.
Q2 results today: IRFC, IRCTC, Raymond among 47 companies to announce earnings on Monday
Key companies, including IRFC, IRCTC, and Raymond, are set to announce their quarterly earnings today. Amara Raja Energy is anticipated to report a 17% YoY growth in net profit and a 10% YoY increase in revenue, driven by solid performance in the aftermarket division and new energy business.
Adani Power Q2 Results: Cons PAT declines 50% YoY to Rs 3,298 crore
Adani Power Q2 Results: In the year-ago period, revenue was Rs 6,594.17 crore. For the recent quarter, revenue from operations reached Rs 13,339 crore, up 3% from Rs 12,991 crore in the same quarter last year. Continuing revenue grew 20% YoY to Rs 28,517 crore in H1 FY25 and 10.8% YoY to Rs 13,465 crore in Q2 FY25, as per the company’s filing.
Is urban economy slowing down? Here are the corporate signals
Despite positive economic indicators, quarterly results from major consumer sectors reveal a dip in urban demand, affected by high raw material costs and inflation. The Reserve Bank of India expects recovery during the festive season, while MPC members express mixed views on economic growth and inflation trajectories.
Hyundai listing, Q2 results among 8 factors to drive stock market this week
Nifty declined 0.44% this week, influenced by auto, metal, and IT stocks. Key upcoming factors include FII flows, IPO activity, Q2 results, and global market trends
RVNL shares rally 7% on bagging Rs 270 crore order from Maha Metro
RVNL Share Price: Shares of Rail Vikas Nigam surged 7% after securing a Rs 270 crore order for constructing metro stations from Maharashtra Metro Rail Corporation. The project involves seven stations in Reach 3A and three in Reach 4A, to be completed within 30 months. RVNL shares have risen 163% this year.
Motilal cuts Nifty EPS estimates by 4%, picks 20 stocks ahead of Q2 results
Motilal Oswal has downgraded FY25 Nifty EPS estimates by 4% to Rs 1,072, citing reduced forecasts for metals and O&G. Despite this, sectors like BFSI, healthcare, and utilities are expected to drive earnings growth. Top picks include ICICI Bank, HDFC Bank, and Bharti Airtel.
Decoding Swiggy’s Rs 10,000 crore IPO; PSMC on India’s chip play
Swiggy has filed its updated draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). This and more in today’s ETtech Top 5.
Railway sector Q1 review: Average PAT decline 16% QoQ, revenue down 24%. What are your cues?
The railway sector reported an average 16% drop in net profits and a 24% revenue decline for the quarter ending June 30, 2024. Ten out of thirteen companies saw decreased profits, and all experienced revenue declines. Stocks have fallen by up to 32% from their 52-week highs, raising concerns about performance.
IRFC Q1 results: PAT up 1.6% YoY to Rs 1,577 crore, revenue uptick at 1.4%
IRFC Q1 results: State-run Indian Railway Finance Corporation (IRFC) reported a net profit of Rs 1,577 crore for the quarter ended June 30, 2024 which was up by 1.6% over Rs 1,551 crore reported by the company in the year ago period.
IRCTC Q4 Results: Cons PAT rises marginally to Rs 284 crore, but revenue jumps 20% YoY
IRCTC Q4 Results: The PAT was reported at Rs 278 crore in the year-ago period. The consolidated revenue from operations for the reported quarter stood at Rs 1,155 crore as against Rs 965 crore reported in the year-ago period. The consolidated net profit was, however, down on a sequential basis by 5% versus Rs 300 crore.
LIC Housing Finance Q4 Results: Net profit falls over 7% YoY to Rs 1,091 crore
The net profit in the year-ago period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
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