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Time of India
5 days ago
- Business
- Time of India
RIL, Eternal drive Sensex 400 points higher, Nifty above 24,700
Indian benchmark indices Sensex and Nifty opened higher, mirroring Asian market gains, as Treasury yields and the US dollar dipped. Positive movements were seen across most sectors, led by Pharma, Oil & Gas, and Auto. Investors are anticipating the Reserve Bank of India's policy decision, with expectations of a rate cut. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Experts View Indian benchmark equity indices, Sensex and Nifty, opened higher on Thursday, mirroring gains in Asian peers, while Treasury yields and the US dollar BSE Sensex was trading 419 points, or 0.52%, higher at 81,417. The Nifty50 was up 120 points, or 0.49%, trading at 24,740 around 9:37 the Sensex pack, Eternal Reliance , M&M, and HCL Tech were among the top gainers, rising up to 2.5%. Meanwhile, Bajaj Finserv Nestle , and HUL opened with Nifty FMCG, all major sectoral indices advanced at the open, with Nifty Pharma, Oil & Gas, and Auto leading the gains, rising up to 1.2%. Broader markets also moved higher, with the smallcap index up 0.7% and the midcap index rising 0.4%.Among individual stocks, Hindustan Aeronautics HAL ) opened nearly 2% higher after the company refuted a media report claiming that its negotiations with General Electric (GE) for the local production of GE414 engines had stalled. The state-run aerospace and defence firm called the report 'factually incorrect and misleading.'The MSCI Asia ex-Japan index rose 0.5%, led by gains in Hong Kong and South Korean stocks, with the latter hitting an 11-month high on post-election Wall Street ended mixed, while Treasury yields and the dollar slipped after data showed a contraction in the U.S. services sector in May for the first time in a home, investors await the Reserve Bank of India's policy decision on Friday, with the central bank widely expected to cut key lending rates by 25 basis points for the third consecutive meeting."Both geopolitical and economic news are likely to weigh on markets in the near term. A serious concern is a potential Russian retaliation to the recent Ukraine attacks on Russian planes. How serious this will be and what will be its consequences are unknown factors now," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments."The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 % and, given the slowing US economy, is likely to trend lower. This will turn out to be good for EMs like India in the medium term, but the spike in uncertainty will keep the market within the present range for the near-term," Vijayakumar Matalia, Derivative Analyst at Choice Broking, said, Nifty can find support at 24,600, followed by 24,400 and 24,450. On the higher side, 24,700 can be an immediate resistance, followed by 24,800 and 24,850.
Business Upturn
6 days ago
- Business
- Business Upturn
KEC International secures Rs 2,211 crore orders across various businesses
KEC International Ltd., a leading global infrastructure EPC company and part of the RPG Group, has announced fresh order wins worth ₹2,211 crore across its Transmission & Distribution (T&D), Oil & Gas Pipelines, and Cables businesses. The company's T&D division has bagged significant international projects, including the design, supply, and installation of 380 kV overhead transmission lines in Saudi Arabia, alongside tower, hardware, and pole supply contracts in the Americas. In the Oil & Gas Pipelines segment, KEC has secured its second international order for terminal station works in Africa, complementing its ongoing pipeline projects in the region. The Cables division has also received orders for the supply of various types of cables both domestically and internationally. Vimal Kejriwal, MD & CEO, KEC International Ltd. stated, 'We are delighted by the order wins secured across businesses, especially on the international front. The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the MENA region's strategic importance as a key growth driver for us. Our subsidiary, SAE Towers has secured a significant tower supply order in Mexico, reflecting an uptick in the North American T&D market. With these orders, our YTD order intake stands at over Rs. 4,200 crores, a robust growth of ~40% vis-à-vis last year.' Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Economic Times
02-06-2025
- Business
- Economic Times
Nifty's PAT grew 3% in Q4FY25, beat Motilal Oswal's estimates; Bharti Airtel, HDFC Bank among top 5 contributors
Nifty posted 3% net profit growth in Q4FY25, marking its fourth straight single-digit gain. Bharti Airtel, ICICI Bank, and others drove 137% of incremental earnings, while MOFSL stays bullish on large-caps and domestic sectors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Q4FY25 earnings based on Mcap Tired of too many ads? Remove Ads Nifty delivered a fourth successive quarter of single-digit net profit growth since the pandemic of 2020 at 3%, with heavyweights Bharti Airtel Tata Motors and HDFC Bank contributing 137% of the incremental year-on-year accretion in earnings according to estimates by Motilal Oswal which remains biased towards large-caps and domestic plays amid a volatile backdrop."Our model portfolio stance remains unchanged, with a distinct bias towards large-caps and domestic plays, given the current volatile backdrop. We are OW (overweight) on BFSI, consumer discretionary, industrials, healthcare, IT and telecom while we are underweight on Oil & Gas, cement, automobiles, real estate and metals," MOFSL uptick in Profit After Tax (PAT) was higher than MOFSL's estimates of 2% and IndusInd Bank State Bank of India (SBI), Kotak Mahindra Bank , and Grasim Industries contributed adversely to the broad-based analysis reveals 13 sectors exceeding expectations in the 4QFY25 corporate earnings, showcasing widespread outperformance across and OMCs propelled earnings growth and were followed by PSU banks, automobiles, healthcare, technology, and capital goods, fuelling this healthy performance. Conversely, Oil & Gas (excluding OMCs) and private banks dragged overall aggregate earnings of the MOFSL universe companies grew 10% YoY versus the estimates of 2% YoY in metals profit surged 45% YoY on a low 4QFY24 base while for OMC's PAT jumped 14% YoY versus estimates of a 59% decline. Earnings of PSU banks (+9% YoY), automobiles (+8% YoY), technology (+7% YoY), healthcare (+17% YoY), capital goods (+14% YoY) and consumer durables (+37% YoY) stood at 9%, 8%, 7%, 17% and 37%, respectively. As for the telecom sector, profit of Rs 500 crore was reported versus loss of Rs 2,500 contrast, aggregate earnings growth was hit by Oil & Gas (ex OMCs), which posted a profit decline of 12% YoY. Further, earnings were dragged down by private banks (-6% YoY), cement (-3% YoY) and consumers (-1%).The MOFSL review reveals that largecaps and midcaps delivered a beat while smallcaps reported a coverage universe comprising 86 largecap companies posted an earnings growth of 10% YoY while midcaps (89 companies) delivered 19% earnings growth versus estimates of 10%. The earnings were led by financials (PSU banks and NBFCs), metals, healthcare and contrast, smallcaps (122 companies) experienced a broad-based miss adversely impacted by the financials sector. The smallcap earnings dipped 16% YoY versus estimates of 11% fall. In this, 39% of the coverage universe missed MOFSL's the other hand, within the largecap and midcap universe, 21% and 25% of the companies missed their estimates.
Time of India
02-06-2025
- Business
- Time of India
Nifty's PAT grew 3% in Q4FY25, beat Motilal Oswal's estimates; Bharti Airtel, HDFC Bank among top 5 contributors
Live Events Q4FY25 earnings based on Mcap (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Nifty delivered a fourth successive quarter of single-digit net profit growth since the pandemic of 2020 at 3%, with heavyweights Bharti Airtel Tata Motors and HDFC Bank contributing 137% of the incremental year-on-year accretion in earnings according to estimates by Motilal Oswal which remains biased towards large-caps and domestic plays amid a volatile backdrop."Our model portfolio stance remains unchanged, with a distinct bias towards large-caps and domestic plays, given the current volatile backdrop. We are OW (overweight) on BFSI, consumer discretionary, industrials, healthcare, IT and telecom while we are underweight on Oil & Gas, cement, automobiles, real estate and metals," MOFSL uptick in Profit After Tax (PAT) was higher than MOFSL's estimates of 2% and IndusInd Bank State Bank of India (SBI), Kotak Mahindra Bank , and Grasim Industries contributed adversely to the broad-based analysis reveals 13 sectors exceeding expectations in the 4QFY25 corporate earnings, showcasing widespread outperformance across and OMCs propelled earnings growth and were followed by PSU banks, automobiles, healthcare, technology, and capital goods, fuelling this healthy performance. Conversely, Oil & Gas (excluding OMCs) and private banks dragged overall aggregate earnings of the MOFSL universe companies grew 10% YoY versus the estimates of 2% YoY in metals profit surged 45% YoY on a low 4QFY24 base while for OMC's PAT jumped 14% YoY versus estimates of a 59% decline. Earnings of PSU banks (+9% YoY), automobiles (+8% YoY), technology (+7% YoY), healthcare (+17% YoY), capital goods (+14% YoY) and consumer durables (+37% YoY) stood at 9%, 8%, 7%, 17% and 37%, respectively. As for the telecom sector, profit of Rs 500 crore was reported versus loss of Rs 2,500 contrast, aggregate earnings growth was hit by Oil & Gas (ex OMCs), which posted a profit decline of 12% YoY. Further, earnings were dragged down by private banks (-6% YoY), cement (-3% YoY) and consumers (-1%).The MOFSL review reveals that largecaps and midcaps delivered a beat while smallcaps reported a coverage universe comprising 86 largecap companies posted an earnings growth of 10% YoY while midcaps (89 companies) delivered 19% earnings growth versus estimates of 10%. The earnings were led by financials (PSU banks and NBFCs), metals, healthcare and contrast, smallcaps (122 companies) experienced a broad-based miss adversely impacted by the financials sector. The smallcap earnings dipped 16% YoY versus estimates of 11% fall. In this, 39% of the coverage universe missed MOFSL's the other hand, within the largecap and midcap universe, 21% and 25% of the companies missed their estimates.
Yahoo
29-05-2025
- Business
- Yahoo
A note on the news: Reorganizing the world
(Oil & Gas 360) – Donald Trump made a trip to the Middle East, and clearly, he is reorganizing the world. He strengthened US relations with Saudi Arabia and made commercial agreements with Qatar and the United Arab Emirates. Agreements with Saudi Arabia involved large arms purchases and financial commitments by the US and Saudi Arabia with each other, and large commitments to the development of AI research and development in both countries. Trump gave a speech which emphatically made the point that US policy is focused on establishing and maintaining peace if possible. Another clear point from this trip is that Trump will emphasize new technology development with effective partners. It was also clear Europe is on the sidelines. Europe put itself on the sidelines when it established the European Union nearly 30 years ago but has not quite grasped that fact yet. Two articles in last week's Wall Street Journal explained the problem. The first, by Walter Russell Mead, titled Why Democracy is in Retreat (WSJ, 20 May 2025), outlined how left-wing political parties advocate democracy but do not abide by it. A basic requirement of democracy is that the portion of the population which did not vote for the winner of an election accept their loss and work peacefully with the winner. As Mead discusses, that is no longer a feature of Western democracies. The losing parties, increasingly left (viciously and sometimes violently), oppose the winning party and strongly undermine the winners. Thus, democracy erodes to authoritarianism on one side or the other. Attempts to maintain a centrist path are not successful either. Consider the poor German voter. After several years of an ineffective and misguided so-called center-left government, Germany held new elections. German sentiment swung strongly to the right. A so-called center-right won the most votes, with a further right party, the AfD, coming in second. Instead of forming a government with the AfD, however, the centrist-right teamed up with the centrist-left party, which had just been voted out. So, the German voter got no meaningful change. This plethora of political parties hinders change and undermines progress. Madison identified such a variety of political participants as Factions and identified them as a reason the Founders did not form the US Government as a democracy. It has been 80 years since the end of World War II, after which the US foisted democracies as a desirable form of government on the nations of Europe. Democracies are unstable and thus do not last very long, however, and those democracies are now reaching the end of their shelf life. One of the mysteries of American foreign policy is that it imposed a flawed system of government on other countries which it does not use itself. Discussions of the difficulties of democracies in the modern world implicitly consider only two forms of government: democracy and authoritarian-totalitarian. Seldom, if ever mentioned, is another form of elective government: a Republic. Conceived by Greeks, implemented by Rome, developed by Venice, and chosen by the Founders as the form of government for the United States, a Republic renders a more stable government than democracies. The American Pledge of Allegiance to the flag includes the phrase 'and to the Republic for which it stands'. Nevertheless, the US has busybodied itself around the world for the last 75 years or so trying to impose democracy on the rest of the world and wondering why it does not turn out very well Despite all the evidence, it is almost impossible to change the beliefs of democracy advocates, however; as Socrates found out 2500 years ago and Mead described last week. Europe would be far better off if it traded in the EU for a confederation of republics. The second pertinent WSJ article was a front-page article entitled The Tech Industry is Huge – and Europe's Share of It is Very Small (WSJ. 21 May 2025). This article describes the various ways the EU suppresses innovation and entrepreneurism. As the US and China race forward with technological development and innovation, the EU is not even in the race. The EU and the UK together hold only 2% of AI patents. Nearly 40 years ago, Timothy Berners-Lee, working at CERN in Geneva, invented the World Wide Web. Not much has been heard of a tech development in Europe or CERN for thirty years. The Journal article points out how European tech scientists and engineers migrate to the US to follow their ambitions and apply their abilities. Europe complains and various commentators deplore US abandonment of and antagonism toward Europe. These do not reflect the US attitude toward Europe, however. Europe took itself out of the game. It is no longer the same society which built the Concorde, developed high-speed rail, or built the original accelerator at CERN, and shows no inclination to change. The US seeks new partners who want to build a new future and embrace new ideas. It is finding those partners in unexpected places. The US chose the Middle East as technical partners – an area with little past accomplishment in technology – but a desire to create a new Middle East for the future. It also has the investment capability tp act on that desire. Trump should be making other foreign trips to cement relations soon. Southeast Asia should be next and then Latin America. With such trips and the preparatory contacts and discussions, a new world organization will develop. By contributor Dr. Charles Kohlhaas. 'The views expressed in this article are solely those of the author and do not necessarily reflect the opinions of Oil & Gas 360. 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