Latest news with #ADX
Al Etihad
3 days ago
- Business
- Al Etihad
ADX and DFM-listed companies post $15 billion in Q1 net profits: Kamco Invest
30 May 2025 19:48 REDDY (ABU DHABI)Companies listed on Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) recorded a combined net profit of $15 billion in the first quarter of 2025, representing a robust year-on-year (YoY) growth across key sectors, according to a report from Kamco ADX alone contributed $9 billion to the total, while companies on the DFM posted $6 billion in profits, driven largely by strong performances in the banking, telecom, and real estate Dhabi-listed companies witnessed a 9.8% increase in net profits, rising from $8.2 billion in Q1-2024 to $9.0 billion in Q1 2025. The growth was underpinned by strong earnings in the banking sector, which posted a total profit of $2.9 billion, up from $2.4 billion a year earlier. This performance was bolstered by higher earnings across almost all banks, most notably First Abu Dhabi Bank (FAB), which reported a 23.4% YoY increase in net profit to $1.4 billion.'FAB's revenue rose to Dh8.81 billion during the quarter, representing an 11% increase compared to Q1-2024,' the report noted, highlighting "solid business momentum and strong client activity across diversified income streams."Abu Dhabi Commercial Bank also posted solid results, with a 17.3% increase in net profit to $606.6 million, supported by diversified income and enhanced operational the telecom sector, net profits more than doubled, climbing to $1.5 billion in Q1-2025 from $634 million a year earlier. The gain was primarily attributed to Emirates Telecommunication Group (E&), which reported the entire $1.5 billion profit figure. Kamco noted the telco's 18.6% increase in revenue to Dh16.9 billion and 15.4% rise in EBITDA, underscoring efficiency in core energy sector in Abu Dhabi also saw healthy growth, with total earnings rising 7.4% YoY to $2.3 billion. Among top contributors were ADNOC Gas, which recorded a 6.9% rise in profit to $1.3 billion, and ADNOC Drilling, which posted a 24.1% increase to $341 firms saw their aggregate profits grow by 6.3% to $6 billion in Q1 2025, compared to $5.7 billion in the same quarter of 2024. The performance was mainly driven by real estate, transportation, and telecom sectors, while banking, utilities, and consumer services saw YoY declines.'Corporate profits during the period were largely concentrated in the Banking, Real Estate, and Transportation Services sectors, which together accounted for 84.3% of the total net profits in Q1-2025,' the report real estate sector saw one of the strongest growth trends, with total profits increasing by nearly a third to $1.7 billion, up from $1.3 billion in Q1 2024. Emaar Properties led the surge, posting a net profit of $1.01 billion, up 27% YoY, buoyed by sustained demand, successful project launches, and a 50% increase in revenue to Dh10.1 transportation sector reported an 18.4% jump in net profits to $246.7 million. Salik Co., which operates Dubai's toll gates, saw its profits climb 33.6% to $100.9 million, supported by the launch of new gates and the adoption of variable pricing. Banking sector earnings in Dubai slipped by 2.4% to $3.2 billion, largely due to Emirates NBD's profit falling 7.3% to $1.7 billion, driven by higher impairments. However, Dubai Islamic Bank bucked the trend, recording a 9.2% rise in profit to $473.7 million, supported by increased interest and non-interest income.
Al Etihad
4 days ago
- Business
- Al Etihad
ADX market cap crosses Dh3 trillion mark again
29 May 2025 23:07 REDDY (ABU DHABI)The combined market capitalisation of all companies listed on the Abu Dhabi Securities Exchange (ADX) crossed the Dh3 trillion mark once again on the ADX market cap surpassed this milestone on February 10, 2025. At the close of trading on Thursday, the total market cap of companies listed on both the main and growth markets of ADX stood at Dh3.007 exchange first crossed the Dh2 trillion mark in June 2022, and it took nearly three years to reach the next significant threshold in February 2025. However, after briefly staying above Dh3 trillion, the market cap retreated due to volatile conditions triggered by tariff wars and geopolitical tensions. The recent rally in the markets has now pushed the valuation past the Dh3 trillion mark once has witnessed substantial growth in recent years, driven by a strong economy, increasing foreign investment, and a surge in initial public offerings (IPOs). In 2024 alone, 28 new securities were listed, bringing the total to 187. In the first quarter of 2025, information technology firm Alpha Data made its market debut following a successful IPO, amid growing optimism that Abu Dhabi's flagship airline, Etihad Airways, may also launch an IPO this 2024, ADX ranked among the top five global exchanges by IPO proceeds, with offerings raising approximately $3.35 billion. It captured 38% of all IPO proceeds in the Middle East and 80% of those within the UAE, according to a Wam report on the year's its position as the second-largest exchange in the region, ADX also held its place among the world's top 20 stock markets. Its consistent global ranking reflects a well-regulated, investor-friendly environment. 'This milestone enhances the exchange's reputation and boosts investor confidence, paving the way for sustained growth and further capital market development in the UAE,' said Samer Mardini, Chief Investment Officer at Yorklyn Asset Management.
Mint
5 days ago
- Business
- Mint
780% rally in 5 years! Anand Rathi sees more upside in this multibagger Tata group stock in 1-3 months. Do you own?
Multibagger Stock: Indian brokerage firm Anand Rathi Investment Services has picked Tata Investment Corporation, as they estimate a 12.3 per cent upside for the Tata Group stocks in the upcoming one to three months' time. According to the brokerage, the company's shares have been consolidating in the broad range for the last five to six months and managed to mark a 'decisive breakout' on Wednesday, 28 May 2025, fueled by strong volumes. 'The daily RSI has confirmed a range shift above the 60 level after a prolonged period, signalling bullish momentum. Additionally, the daily ADX (14) has crossed the 20 mark and is currently near 22, indicating a developing trend — with momentum likely to pick up further as it approaches the 24–25 zone,' said the brokerage firm. Tata Investment Corporation is a non-banking financial company (NBFC) that invests in listed and unlisted equity shares, debt instruments, and mutual funds. Tata Investment Corporation Ltd. (TATAINVEST): Buy at ₹ 6,400 to ₹ 6,500; Target Price at ₹ 7,300; Stop Loss at ₹ 5,990. 'Traders may look to accumulate the stock in the ₹ 6,400 to ₹ 6,500 range, with a stop loss at ₹ 5,990 and an upside target of ₹ 7,300 over the next 1–3 months,' said the analysts at Anand Rathi. Tata Investment Corporation shares closed 1.74 per cent higher at ₹ 6,411.20 after Wednesday's stock market session, compared to ₹ 6,301.65 at the previous market close. The Tata group stock has given stock market investors more than 780 per cent returns in the last five years. However, the shares also lost 1.17 per cent in the last one-year period. On a year-to-date (YTD) basis, the stock is down 5.94 per cent in 2025 but is currently trading 5.29 per cent higher in the last one-month period. According to BSE data, the shares of Tata Investment Corporation hit their 52-week high at ₹ 8,075.90 on 28 August 2024, while the 52-week low was at ₹ 5,147.15 on 17 February 2025. The company's market capitalisation (M-Cap) was at ₹ 32,437.66 crore as of the stock market close on Wednesday, 28 May 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Al Etihad
7 days ago
- Business
- Al Etihad
Lulu Retail to join FTSE Global Equity Index Series
27 May 2025 14:04 A. SREENIVASA REDDY (ABU DHABI)Lulu Retail Holdings, the region's largest full-line retailer, has been selected for inclusion in the FTSE Global Equity Index Series (FTSE GEIS), a key global benchmark developed by FTSE Russell, a subsidiary of the London Stock Exchange inclusion will take effect from June 23, 2025, subject to final confirmation by June 6, a statement from the company move comes after Lulu's successful initial public offering (IPO) in Q4 2024, which attracted robust demand from local, regional, and international was listed on the Abu Dhabi Securities Exchange (ADX) at Dh2.04, and the stock is now trading at around Dh1.35. Despite the fall in price, the scrip enjoys high liquidity in the market cap stands at Dh13.94 billion, according to the latest ADX will be included in several prominent indices under the FTSE GEIS umbrella, namely the FTSE Mid Cap, FTSE All-World, FTSE All-Cap, and FTSE Total-Cap indices, the statement said. These indices are widely tracked by institutional investors globally and serve as essential tools for benchmarking equity performance and allocating FTSE Global Equity Index Series offers a comprehensive representation of global equity markets by covering companies across 49 developed and emerging markets. The indices are structured to include companies by market capitalisation tier—ranging from large-cap to micro-cap—and are reviewed quarterly to ensure they reflect current market conditions. Index constituents are determined based on factors such as market capitalisation, liquidity, and free in an FTSE GEIS index is often seen as a milestone for listed companies, as it enhances global visibility and can drive increased capital inflows from passive and active funds benchmarked to these on the announcement, Saifee Rupawala, CEO of Lulu Retail, said, "Our inclusion in the FTSE Global Equity Index Series is a landmark achievement and underscores the strength of our retail model, operational scale, and the trust investors have placed in our vision. It enhances our visibility on the global stage and opens new avenues for engagement with long-term international capital." Founded in 1974, Lulu Retail operates 255 stores across all six GCC countries, including hypermarkets, express stores, and mini-markets. The company also has a growing digital presence through mobile and online platforms. Source: Aletihad - Abu Dhabi
Al Etihad
26-05-2025
- Business
- Al Etihad
ADNOC L&S receives second newbuild LNG carrier 'Al Rahba' from Jiangnan Shipyard
26 May 2025 12:32 ABU DHABI (ALETIHAD)ADNOC Logistics and Services (ADNOC L&S), a global leader in energy maritime logistics and a subsidiary of ADNOC Group, has taken delivery of its second newbuild liquified natural gas (LNG) carrier, 'Al Rahba', from Jiangnan Shipyard in China. A statement to this effect was posted on the website of the Abu Dhabi Securities Exchange (ADX), where it is listed as a publicly traded company. 'The delivery marks a key milestone in ADNOC L&S's strategic fleet expansion programme, which commenced in 2022 with the awarding of contracts to Jiangnan Shipyard for the construction of six state-of-the-art LNG carriers, the statement said. The acquisition of 'Al Rahba' further strengthens the company's shipping capabilities amid growing global demand for cleaner energy a capacity of 175,000 cubic metres, 'Al Rahba' is equipped with advanced energy-efficient technologies. These include two new-generation LNG dual-fuel main engines designed to cut methane emissions by up to 50% compared to older-generation vessels, supporting ADNOC's broader commitment to environmental sustainability and operational L&S operates through three primary business units – Integrated Logistics, Shipping, and Services. The company delivers energy products and maritime solutions to more than 100 customers across over 50 countries. Its subsidiaries include 100%-owned Zakher Marine International Holdings, which is an Abu Dhabi-based owner and operator of offshore support vessels. ADNOC L&S also owns an 80% stake in Navig8, a global ship owner and commercial pools operator also offering bunkering and ship management solutions. The net capitalisation of ADNOC L&S, according to the latest ADX data, is Dh32.93 billion.
