Titan stock price drops 7% on May 06. Why brokerages have cut target price
Titan shares plunged 7.02 per cent to Rs 3,287 apiece on the BSE on Monday as brokerages cut target price for the stock following weaker-than-expected Q4 results. Titan is also the top loser on both NSE and BSE.
Titan reported a decline in its jewellery business earnings before interest (Ebit) margin by 80 basis points year-on-year (Y-o-Y) to 12.2 per cent, which missed street estimates. Read more
Real estate firm Godrej Properties zooms 8% on healthy rise in net profits
Shares of real estate firm Godrej Properties surged 7 per cent at Rs 2,777 a piece on the BSE in Monday’s intraday deals. This came after the company showcased a decent quarterly earnings for the quarter ending March 2023-24 (Q4FY24).
Godrej Properties posted a 14 per cent year-on-year (YoY) increase in its consolidated net profit, reaching Rs 471 crore for the quarter ending March 2024. In the corresponding period last year, the profit stood at Rs 412 crore. Read more
April services PMI softens to 60.8 but remains sturdy on robust demand
Growth in India’s dominant services industry softened in April but remained sturdy on robust domestic and foreign demand, lifting business confidence to a three-month high, a survey showed on Monday.
The HSBC final India Services Purchasing Managers’ Index , compiled by S&P Global, fell to 60.8 in April from 61.2 in March, confounding a preliminary estimate for a rise to 61.7. Read more
Indegene IPO opens today, May 06. Planning to subscribe? What analysts say
Here’s why PFC, REC, PNB, BOB, SBI slipped up to 9% on May 06
Hindalco, Vedanta, JSW Steel on your buy list? Wait for a dip, say analysts
Stocks of metal companies have been buzzing at the bourses for quite some time now. The Nifty Metal index, the gauge of metal companies, has soared 43 per cent over the past six months, as against a 17-per cent surge in the Nifty50 index.
Individually, Hindustan Copper stock has soared 167 per cent, while stocks of Jindal Steel and Power, Hindustan Zinc, NMDC, Vedanta, Steel Authority of India (SAIL), and National Aluminium Company (Nalco) have rallied between 56 per cent and 99 per cent during the period. Read more
