Tata Steel, Kotak Bank, RVNL, NTPC, Adani Green Energy, Nestle India, Coal India, NDTV stocks in focus
时间:2024-06-25 14:58:53 阅读(143)
The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open in the red, as Nifty futures traded 38 points lower at 18,235 on the Singaporean exchange. Benchmark indices NSE Nifty and BSE Sensex ended Friday’s session in the green territory. The NSE Nifty 50 surged 150 points to 18,065 and Sensex skyrocketed 463.06 points to 61,112.44.
“Despite concerns about potentially weaker US GDP numbers and high inflation, the stronger-than-expected earnings reported by Meta propelled IT stocks to the forefront of the Wall Street rally. The trend was reflected in the domestic market, as beaten-down IT stocks helped to lift broader market sentiment. However, with US inflation remaining high, the prospect of another rate hike by the Fed is looming, keeping global markets volatile in the coming days,” said Vinod Nair, Head of Research, Geojit Financial Services.
NTPC Limited, on Monday, announced the appointment of Shivam Srivastava as the director for fuel at the power giant. Shivam Srivastava took charge as the Director (Fuel), NTPC on 30 April, 2023.
Adani Green EnergyAdani Green Energy’s (AGEL’s) consolidated net profit for the fourth quarter ended March 31 more than tripled to Rs 507 crore, primarily backed by strong capacity addition. The Adani Group firm’s total income nearly doubled to Rs 2,988 crore from Rs 1,587 crore recorded during the year-ago quarter, the company said.
Nestle IndiaFMCG major Nestle India is planning to open a new factory to meet the growing demand, said Chairman & Managing Director Suresh Narayanan. This will be Nestle India’s tenth factory in the country.
Hero MotoCorpHero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 396,107 units in April 2023. Sales were down 5.37% from the corresponding period last year, as the firm sold 418,622 units in April 2022.
NDTVNDTV’s quarterly profit tanked 97.6% as the company saw lower demand for advertising. The net profit fell to Rs 59 lakhs versus Rs 24.16 crore in the year-ago period.
Coal IndiaCoal India announced a 7.7% growth on-year in coal production for the period of April 2023 across its subsidiaries.
Rail Vikas NigamThe joint venture between Rail Vikas Nigam and SCC emerged as the lowest bidder for planning, design and construction of main canal and structures for upper high-level canal of Mahi Bajaj Sagar Project, Banswara (Raj). The total cost of the project is Rs 2248.95 crore.
Kotak Mahindra BankKotak Mahindra Bank’s net profit rose 26% on-year in the March quarter due to a strong growth in its loan book. The private sector bank posted a bottomline of Rs 3,496 crore in the quarter under review, up 25% on a sequential basis.
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- d that milk prices are unlikely to witness spikes in the coming months due to cooler temperature in April and parts of May, which has delayed the onset of ‘lean’ season, when milk production usually drops.
Retail inflation in milk was reported at 8.85% in May 2023. The milk inflation has remained elevated at over 6% since August 2022. Despite India being the largest milk producer since 1998, the commodity has been the second biggest factor after cereals such as rice and wheat in driving up retail inflation in the last fiscal.
Milk has the second highest weight in the food and beverages basket of the consumer price index at 6.61%, a notch lower than cereals and products with a 9.67% weight. Organised players, including Mother Dairy and Amul, hiked prices multiple times in the last one year citing higher fodder cost, robust demand and some impact due to reports of lumpy skin disease.
Industry sources said feed cost, which has a share of more than 65% in the cost of production of milk, has increased to Rs 20/kg from Rs 8 a year ago. The finance ministry in April had attributed the elevated milk inflation to a demand supply mismatch and said it could be one of the factors apart from volatile international crude oil prices and constrained supplies of milk would influence the country’s inflation trajectory.
“Milk production has been impacted by a lumpy skin disease infecting millions of cattle in late 2022,” the ministry said in the monthly economic review, adding that the vaccination drive against the disease is expected to curb the spread and immune the cattle against the skin disease.
According to official data, currently India is the world’s largest milk producer, and has a share of 23% in global milk production. For the first time in decades, the country’s milk production is likely to have stagnated in 2022-23 due to Lumpy Skin Disease in cattle across several states and the lagged effect of Covid-19 in the form of stunting of the animals, a senior official with department of animal husbandry and dairying recently had stated. The milk production was estimated at 221 million tonne in 2021-22.
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