INDmoney

🔻Indian stock market falls for the 4th consecutive session amid a broad-based sell-off led by banking stocks

Losses in select banking heavyweights, including HDFC Bank, ICICI Bank & Axis Bank, dragged indices most

Stock-specific action likely be higher as 19 companies will post Q4 results today

NIFTY: 21,995.85 (⬇️ 0.69%)
SENSEX: 72,488.99 (⬇️ 0.62%)

Just Dial (⬆️ 13.38%) Hits 52-week high after reporting 38% profit increase and strong revenue growth.

Sterling Tools (⬆️ 7.09%) Partners with Yongin Electronics for EV components, plans new facility

Jubilant Pharmova (⬆️ 5.21%) Receives VAI status from US FDA, shifts to outsourced manufacturing for profitability.

Jio Financial Services (⬆️ 5%) Shares jump ahead of Q4 earnings, with high revenue growth anticipated

Bharti Airtel (⬆️ 4.03%) Merges in Sri Lanka, sees 54% profit rise, analysts bullish with higher target price

Max Healthcare Institute (⬇️ 4.87%) NSE fines for board composition deviation, plans expansion

Nestle India ( ⬇️3.28%) Faces scrutiny over sugar in baby food, FSSAI investigates

Axis Bank (⬇️ 2.48%) Stock dips but performance shines with a 25.11% YoY income jump, netting ₹6491.66 Crore profit

🔻 US markets dropped for the fourth day in a row, despite robust corporate earnings

S&P 500 saw its longest losing streak since January, driven by sell-offs in big tech stocks despite declining bond yields

NYSE: 17,403.44 (⬇️ 0.06%)
S&P 500: 5,022.21 (⬇️ 0.58%)
Dow Jones: 37,753.31 (⬇️ 0.12%)

United Airlines (⬆️ 17.45%) Soars with better-than-expected Q1 results and a sunny Q2 profit forecast

American Airlines (⬆️ 6.6%) Prepares for Q1 2024 earnings, beating estimates in the last four quarters

Sunoco LP (⬆️ 5.61%) Energizes with a strategic merger, setting up a $1.5 billion credit facility

Globe Life (⬆️ 5.44%) Projects a 10.7% earnings jump, with revenues climbing to $1.43 billion

Goldman Sachs (⬆️ 1.78%) Receives a bullish outlook from Wells Fargo, with capital markets revenue up 14% YoY

McDonald's (⬆️ 1.7%) Cooks up over $25 billion in 2023 revenue, with potential EBITDA surprises

Advanced Micro Devices (⬇️ 5.78%) HSBC upgrades to Buy, sees big future in AI GPU, targets $225

Broadcom (⬇️ 3.49%) Gets a vote of confidence from Barclays with a $1,500 price target

Nvidia (⬇️ 3.87%) Stock dips but Morgan Stanley bullish on AI spending, revises earnings estimates up by 17%

Uber (⬇️ 2.95%) Stock dips despite reporting 15.4% YoY revenue increase, surpassing analyst expectations

🔻 The US stock market fell for a 3rd consecutive day amid concerns over yields and geopolitical tensions.

Markets reacted mixed as the Fed Chair, refrained from indicating interest rate cuts during a meeting in Washington

NYSE: 17,413.98 (⬇️ 0.53%)
S&P 500: 5,051.41 (⬇️ 0.21%)
Dow Jones: 37,798.97 (⬆️ 0.17%)

Intra-cellular Therapies (⬆️ 23.29%) Launches $500M public offering, boosting depression treatment hopes

Super Micro Computer (⬆️ 10.6%) Sees price target hike to $1,500, aiming for $40B revenue by 2026

UnitedHealth Group Incorporated (⬆️ 5.22%) Surpasses Q1 2024 expectations, despite cyberattack concerns

Peabody Energy Corporation (⬆️ 5.01%) Acquires Wards Well, eyeing long-term coal revenue growth

Coty (⬆️ 3.14%) Set for a positive FQ3 surprise, according to Citi

Live Nation Entertainment (⬇️ 7.58%) DOJ antitrust lawsuit fears send shares tumbling

Albemarle Corporation (⬇️ 5.3%) Positioned for growth in booming activated carbon market

Barrick Gold Corporation (⬇️ 5.12%) Misses production estimates, shares fall 5%

Bank of America Corp (⬇️ 3.53%) Beats Q1 earnings but concerns over bad loans cause stock dip

Planet Fitness (⬇️ 2.88%) Stock dips but new CEO appointment expected to drive earnings & valuation

🔻Indian stock market fell due to Middle East tensions and reduced hopes for early US rate cuts

Decline led by IT sector, notably Infosys, Tech Mahindra, Wipro, HCL Tech, and TCS

NIFTY: 22,147.9 (⬇️ 0.56%)
SENSEX: 72,943.68 (⬇️ 0.62%)

Dynacons Systems & Solutions (⬆️ 20%) Bags a ₹233 crore contract from NABARD, promising steady revenue for 5 years

Marksans Pharma (⬆️ 13.38%) catches MIT's eye, acquiring a 1.45% stake and boosting stock confidence

Exide Industries (⬆️ 12.41%) shines with a 45.86% monthly gain, backed by Hyundai-Kia MoU for EV cell

Amara Raja Energy & Mobility (⬆️ 10.91%) sees trading volume surge, hinting at bright future for battery industry

Titagarh Rail Systems (⬆️ 7.03%) sees volume spike and financial growth, aligning CEO and shareholder interests

Infosys (⬇️ 3.66%) Braces for flat profit in Q4 FY24 amid slow sales and wage hikes

Gujarat Gas (⬇️ 3.39%) Partners with IOCL for expanded energy solutions, aiming for sustainability

LTIMindtree (⬇️ 3.16%) Dips after two senior execs exit; faces growth and margin pressures

CRISIL (⬇️ 3.2%) Q4 profit drops 5.5% YoY; commits to digital investments despite global economic slowdown

Wipro (⬇️ 2.39%) Receives 'Sell' rating from CLSA, faces leadership and growth challenges

🔻Indian stock market ended in red due to widespread selling, following Iran's retaliatory attack on Israel

Sensex dipped 845 points, while NIFTY 50 plunged 241.55 points

NIFTY: 22,272.5 (⬇️ 1.1%)
SENSEX: 73,399.78 (⬇️1.14%)

Senco Gold (⬆️ 17.65%) Shines with 39% revenue jump, gold and diamond sales sparkle in FY24

Aster DM Healthcare (⬆️ 7.54%) Announces hefty ₹118/share dividend, plans massive expansion

Oil & Natural Gas Corp (⬆️ 5.8%) ONGC's profitability soars, Jefferies sees over 40% upside

Anand Rathi Wealth (⬆️ 4.76%) Net profit up 33% in Q4FY24, announces dividend and share buyback

Exide Industries (⬆️ 2.67%) Morgan Stanley bullish on Exide's growth levers, eyes EV battery market

NBCC (⬇️ 5.43%) Stock down 28% from its peak this year. Company's Q3 FY 23-24 saw consolidated net profit rise to ₹110.7 crore, with revenue up 13% YoY.

IREDA (⬇️ 4.96%) 3 domestic mutual funds exited IREDA in March, causing a drop in the stock price

Reliance Power (⬇️ 4.94%) The company transfers Vashpet wind project to JSW Renewable for ₹132.39 crore, potentially impacting future revenue & earnings

Adani Green Energy (⬇️ 3.45%) Despite strong business updates for FY24, share price declined slightly

Vodafone Idea is set to launch INDIA'S BIGGEST EVER Follow-on Public Offer (FPO) worth ₹18,000 crore! 

The offer opens on April 18.

But what exactly is an FPO?

It is similar to an IPO. FPOs are aimed at garnering more funds post the company's original stock market listing.

Here, a listed company issues additional shares to investors, thereby expanding its equity base.

FPOs can be dilutive, releasing new shares to the market, or non-dilutive, if the shares come from major shareholders selling their stakes.

👉 Why this FPO is a Game-changer?

- This move is pivotal for Vodafone Idea as it seeks to strengthen its foothold in the competitive 5G arena

- Despite trailing behind in 5G deployment, the company is gearing up to bridge the gap with this strategic capital infusion

- Additionally, Vi is in talks with banks to raise debt funding, taking the total fund raise to ₹45,000 crore as a combination of equity and debt

👉 What are the details of this FPO?

- Set at a 23% discount, the FPO's price band is ₹10-11 per share with an ambitious aim to raise ₹18,000 crores

- Retail investors have a dedicated quota of ₹6,300 crores

- GQG Partners and SBI Mutual Fund are considering a significant $800 million investment

👉 What does it mean for retail investors?

- Retail investors have the opportunity to partake in Vodafone Idea’s foray into 5G which it hopes will provide a boost to its business.

- Investors can bid for a minimum bid lot of 1,298 equity shares.

- The minimum application amount, based on the upper end of the price band comes up to ₹14,278 for one lot of shares in the FPO.

👉 What do you think about this FPO? Will you invest in it?

Let us know in the comments below 👇

🔻Indian stock market dips due to US Fed rate cut uncertainty and Q4 earnings kickoff

Investors await TCS Q4 earnings; company likely to show moderate revenue and PAT growth

NIFTY: 22,519.4 (⬇️ 1.03%)
SENSEX: 74,244.9 (⬇️ 1.06%)

Ramco Systems (⬆️ 14.99%) Soars to a 2-year high with Korean Air collaboration boosting MRO segment

Neuland Laboratories (⬆️ 7.66%) Tripled in a year; Goldman Sachs sees bright future with ₹9,100 target

Sona BLW Precision Forgings (⬆️ 5.26%) Rises as Tesla's India supplier, promising high returns

CreditAccess Grameen (⬆️ 3.55%) Attracts Goldman Sachs' buy rating with a ₹1,788 target

Reliance Infrastructure (⬇️ 13.12%) Stock dips amid Supreme Court ruling, impacting short-term outlook

Sun Pharmaceuticals (⬇️ 3.99%) Faces US FDA hurdle, but strong profits may cushion the blow

TVS Motor Company (⬇️ 2.41%) Stock dips despite reaching supply chain milestone, strengthening partnerships

Larsen & Toubro (⬇️ 1.97%) Sells stake in infrastructure project, amid scaling down concerns