India's corporate earnings for Q2FY25 showed an 8% YoY PAT growth for the BSE500, excluding oil marketing companies. However, weak demand and fading margin tailwinds have led to a 3% cut in FY25 EPS estimates. Cement, metals, and energy sectors faced challenges. The outlook for H2FY25 hinges on government spending and rural demand recovery.
Nifty opened positive but faced profit booking, closing at 23,519. Analysts expect support at 23,350 and resistance at 23,780, with increased volatility from geopolitical tensions.
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Indian Hotels Company Ltd (IHCL) plans to double its revenue to Rs 15,000 crore over the next five years. The company will expand its portfolio to over 700 hotels. IHCL aims to achieve this growth through a combination of traditional businesses and new ventures. The company's strategy focuses on capital-light growth, with a significant portion coming from management fees.
Thousands of farmers expected to take part in a march on Whitehall
Organisers of Tuesday's protest warn some farmers now "have nothing to lose" in causing disruption.
Waaree Energies is increasing production capacity and expanding into new markets. The company is focused on managing margins as prices decline. Waaree is also investing in green hydrogen and battery storage. The company plans to commission a US plant soon. Waaree will announce more details about its battery and electrolyzer plans in the coming months.
If Nifty comes around 23,650 odd level, around 100 points correction or so from here, can be utilised to create a fresh long position and ultimately I am expecting Nifty to reach a target of 24,000 to 24,100 where call have been written.
Strong second-quarter earnings from India's banking and financial services industry (BFSI) are attracting investors, with brokerages bullish on large banks and NBFCs. Despite a recent market dip, experts predict a rally once the Reserve Bank of India begins cutting interest rates. Analysts highlight banks' robust profits, stabilizing interest margins, and the potential for growth in the sector.
NTPC Green Energy Limited (NGEL) is aiming to achieve a capacity of 60 gigawatts by 2032, focusing on large-scale solar and wind projects. The company, a subsidiary of NTPC, recently launched an IPO, with NTPC remaining the majority shareholder. NGEL emphasizes solar energy due to its predictability and integration capabilities with storage solutions.
