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Economic Times
3 hours ago
- Economic Times
Stock picks of the week: 5 stocks with consistent score improvement and return potential of 13 to 45% in 1 year
For all those who were getting complacent about the markets, the last two trading sessions have once again come as a lesson that when valuations are not cheap, it is good to be cautious and selective even while maintaining the underlying bullish mood. More than the Nifty and Sensex taking a beating, what has changed in the last two sessions, and is more worrying for the street, is the negative market breadth. The risk of the situation getting FONT SIZE SAVE PRINT COMMENT
The Print
4 hours ago
- The Print
Stock markets fall for 2nd day; Sensex tanks 721 pts dragged by Bajaj Finance, foreign fund outflows
The 50-share NSE Nifty dropped 225.10 points or 0.90 per cent to a month's low of 24,837. The 30-share BSE Sensex tanked 721.08 points or 0.88 per cent to settle at over a month's low of 81,463.09. During the day, it plunged 786.48 points or 0.95 per cent to 81,397.69. Mumbai, Jul 25 (PTI) Stock markets declined for the second day in a row on Friday, with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows. Analysts said a weak trend in Asian and European markets also dented investors' sentiment. Vinod Nair, Head of Research, Geojit Investments Limited, said, 'Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure.' Among Sensex firms, Bajaj Finance declined 4.73 per cent post its June quarter earnings announcement. Power Grid, Infosys, Tech Mahindra, Bajaj Finserv, Trent, Tata Motors, NTPC and Adani Ports were also among the laggards. However, Sun Pharma and Bharti Airtel emerged as gainers. 'Markets extended their decline on Friday, losing nearly a per cent amid weak global cues. Benchmark indices remained under pressure from the outset, largely due to disappointing earnings, with the situation worsening as the session progressed. 'The recent correction reflects growing concerns around earnings disappointments and cautious management commentary, which are weighing heavily on investor confidence. Additionally, continued selling by FIIs is exacerbating the pressure,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. The BSE smallcap gauge tanked 1.88 per cent and midcap index dropped 1.46 per cent. Utilities slumped 2.37 per cent, power tumbled 2.36 per cent, oil & gas (2.11 per cent), industrials (1.88 per cent), capital goods (1.83 per cent), IT (1.65 per cent) and metal (1.64 per cent). BSE healthcare emerged as the only gainer. As many as 2,892 stocks declined while 1,117 advanved and 145 remained unchanged on the BSE. On the weekly front, the BSE benchmark gauge declined 294.64 points or 0.36 per cent, and the Nifty dipped 131.4 points or 0.52 per cent. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,133.69 crore on Thursday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,617.14 crore. In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower while South Korea's Kospi ended in positive territory.. European markets were trading lower. The US markets ended on a mixed note on Thursday. India and the UK signed a landmark free trade agreement on Thursday, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky. The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030. Global oil benchmark Brent crude climbed 0.32 per cent to USD 69.40 a barrel. On Thursday, the Sensex tanked 542.47 points or 0.66 per cent to settle at 82,184.17. The Nifty dropped 157.80 points or 0.63 per cent to 25,062.10. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
4 hours ago
- Economic Times
Petronet Q1 Results: Net profit falls 25%, to invest Rs 6,355 crore in new LNG terminal
Petronet LNG Ltd, India's largest gas importer, on Friday reported a 25 per cent drop in its June quarter net profit, and said it will invest Rs 6,355 crore in setting up a new import facility at Odisha. ADVERTISEMENT Net profit of Rs 850.58 crore in April-June was lower than Rs 1,141.58 crore last year, mainly because of lower volumes imported due to a fall in power demand on early arrival of monsoon. The firm's Dahej liquefied natural gas (LNG) import terminal in Gujarat imported 207 trillion BTUs (British thermal unit) as compared to 248 TBtus in April-June 2024, its chief executive, A K Singh, told reporters on an earnings call. Overall, the company processed 220 TBTUs in April-June - the first quarter of the current 2025-26 fiscal - as opposed to 262 TBTUs last year. "LNG throughput in Q1 is lower than corresponding quarter mainly because there was a severe power requirement (in April-June 2024) which necessitated substantial LNG imports," he said, adding this year early and severe monsoon rains lower demand for electricity, and hence reduced demand for LNG (which is used to generate power). There were also shutdowns of fertiliser plants in the quarter, he said. ADVERTISEMENT He said the Dahej terminal operated at 92 per cent capacity in Q1 as compared to best ever utilisation of 110 per cent in the same period last year. On the demand outlook, he said city gas volumes have picked up and so is the demand by the petrochemical sector. ADVERTISEMENT In the second quarter (July-September), the Dahej is back to near 100 per cent capacity operation, he said. Singh said the company board has also accorded in-principle additional investment approval for setting up of a 5 million tonnes a year land-based LNG terminal at Gopalpur. This is in place of earlier approval of 4 million-tonne Floating Storage and Regasification Unit (FSRU) based LNG terminal for an incremental project cost of Rs 4,048.80 crore. ADVERTISEMENT The overall approved value of the project is Rs 6,354.80 crore (including taxes and duties), he said, adding it would take three years to construct the facility. Besides Dahej, Petronet also has a 5 million tonnes a year import terminal at Kochi in Kerala, but it operates at less than a quarter of its capacity because of a lack of pipelines to take imported fuel to customers. ADVERTISEMENT While the capital expenditure has increased - from Rs 2,300 crore for a floated import unit (called FSRU) to Rs 6,354.80 crore land-based fixed terminal, the operating expenses (opex) have substantially reduced to Rs 450-500 crore, he said. The decision to shift to a land-based terminal was also taken because of the tight market for FSRUs in view of European countries using them to import gas in place of the volumes they used to receive from Russia. (You can now subscribe to our ETMarkets WhatsApp channel)
