Stock market LIVE: Sensex down 850 pts, Nifty holds 22,400; RIL, Airtel dip 3%

ALERT:: HFCL Q4 net jumps 39%; stock off day’s low

Go Fashion hits 52-week low, tanks 11% on weak Q4 earnings; profit down 12%

Total revenue, however, grew 15 per cent to Rs 181.70 crore, against Rs 157.60 crore in the corresponding quarter of the previous year. READ MORE

BofA upgrades Voda Idea stock; telcos may up tariff by 20-25% post LS polls

However, the Vodafone Idea stock is not a ‘buy’ yet as BofA awaits further clarity on funding position improvement post fiscal 2025- 26 (FY26) as the spectrum moratorium ends. READ MORE

ALERT:: Steel Exchange reports Q4 turnaround; stock up 0.5%

Steel Exchange of India today reported a net profit of Rs 19.75 crore for the quarter ended March 2024 as against a net loss of Rs 42.61 crore in the year ago quarter. Total income, however, declined 21.5 per cent YoY to Rs 313.24 crore from Rs 399.07 crore.

ALERT:: Go Fashions Q4 net up 5%; stock down 2%

Go Fashions today reported a 5.1 per cent growth in Q4 net profit at Rs 14.42 crore for the quarter ended March 2024 as against Rs 13.72 crore in the year ago quarter. Total income rose 16.9 per cent YoY to Rs 187.29 crore from Rs 160.20 crore.

Adani Group stocks see little impact of Sebi notices on disclosure norms

Adani Group stocks traded little changed on Friday even as the conglomerate disclosed it had received notices from market regulator Securities and Exchange Board of India (Sebi) alleging non-compliance of disclosure requirements, mainly for related party transactions (RPT). READ MORE

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MRF Q4 net up 16% at Rs 396 crore; income up 9%

MRF Limited, on May 3, reported a 16.28 per cent year-on-year rise in consolidated net profit at Rs 396.11 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 340.65 crore during the same period last year (Q4FY23). READ MORE

Coforge slips 10% post Q4 results, acquisition of Cigniti Technologies

The stock of Coforge is trading at its lowest level since June 2023. With today’s decline, it corrected 34 per cent from its 52-week high of Rs 6,840 touched on February 19, 2024. READ MORE

This SME stock zoomed 122% in 7 weeks; up 2091% from IPO price in 8 months

Shares of Bondada Engineering were locked in the upper circuit for the eight straight trading session, hitting new high on the BSE in Friday’s intra-day trade. READ MORE

Yes Bank slides 3% on GST penalty; brokerage maintains ‘Sell’ rating

Shares of Yes Bank dipped 3.44 per cent at Rs 24.55 a per share on the BSE in Thursday’s intraday trade. This came after Yes Bank revealed on Thursday that it has received a service tax demand order imposing a penalty of over Rs 6.42 crore. Read more

Sensex tanks 1,250 pts from day’s high; 3 reasons for the sharp U-turn

Equity benchmark indices took a sharp U-turn in Friday’s intra-day trades amid selling pressure in key index heavyweights namely – Reliance Industries, HDFC Bank and Larsen & Toubro.

The S&P BSE Sensex had come within striking distance of its summit as it hit a high of 75,095. The all-time high for the Sensex stands at 75,124. The BSE benchmark thereafter erased gains and nose-dived to a low of 73,831 – down 1,264 points from the day’s high. Read more

Coal India rallies 4% on decent quarter; brokerage retains ‘Buy’ on stock

Shares of Coal India shot up by 4.1 per cent at Rs 472 a piece on the BSE in Friday’s intraday trade. This came after the company delivered a decent growth in its fourth quarter results for financial year 2023-24 (Q4FY24)

The national miner Coal India reported a 17.8 per cent jump in its year-on-year (Y-o-Y) profit at Rs 37,369 crore for the financial year 2023-24 (FY24). The revenue from operations rose minimally by 3 per cent to Rs 1.38 trillion during FY24, while the net income was up by a similar quantum to Rs 1.5 trillion. Read more