SpiceJet shares jumped 7% during the morning session following the debt-laden airline flew back into the black in the fourth quarter ended March 2024.

On July 15, the debt-laden airline reported its Q3 and Q4 results for the fiscal year 2023–34. After reporting a loss in the third quarter of 2023–24, the carrier reported a six-fold increase in profit in the fourth quarter.

The airline, which is located in Gurugram,  reported a net profit of Rs 119.6 crore for the January–March quarter of 2023–24 and a net loss of Rs 300 crore for the September quarter of FY24.

SpiceJet shares were up 6% from the previous close to trade on the BSE at Rs 58.99 at 9:20 a.m.

As of 3:06 pm, SpiceJet shares were trading 3.18% higher at ₹57.65.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

The day after Sandeep Kumar was appointed Director (Finance) of the compan by the government, shares of Power Finance Corporation (PFC) increased by more than 1.5% on July 12.

Before this appointment, he served as PFC’s Chief Financial Officer (CFO) and Executive Director (Finance) since January 1, 2020, the company stated in a statement.

“The Government of India appointed Sandeep Kumar as Director (Finance) at Power Finance Corporation Limited (PFC), effective 11 July 2024,” PFC stated in a regulatory filing, adding that Sandeep Kumar has a remarkable career spanning over 34 years in the power and banking industries.

As of 11:25 am, Power Finance Corporation shares were trading 0.45% lower at ₹568.05.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Following the company’s poor results for the quarter ending in June (Q1FY25), which were due to higher GST rates, general elections and seasonal factors, shares of Delta Corp dropped by 4 percent to Rs 136 per share on July 10.

In Q1FY25, the company’s overall net profit fell by 67.6% YoY to Rs 21.6 crore from Rs 68 crore during the same time last year. Additionally, operating revenue fell by 30% YoY to Rs 181 crore in the quarter that ended in June compared to Rs 259 crore in the same period last year.

Delta Corp’s earnings dropped almost half from Rs 86.88 crore reported in the prior quarter on a sequential basis. In the meantime, revenue increased from Rs 128 crore in the December quarter.

In Q1FY25, Delta Corp’s operating profits before interest, tax, depreciation and amortization (EBITDA) decreased by 68.2 percent year over year to Rs 30.5 crore from Rs 95.8 crore in the same period the previous year. The firm’s EBITDA margin also fell significantly to 16.9 percent in Q1FY25, from 36.9 percent in Q1FY24.

As of 11:37 am, Delta Corp shares were trading 4.21% lower at ₹136.80 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

In early morning trade on Monday, stocks of Adani Wilmar increased by 4.38 percent to Rs 347.90 a share on the BSE. Following the FMCG company’s release of its business update for the first quarter of the fiscal year 2024–25 (Q1FY25) on Friday, the stock price went up.

In Q1FY25, the company’s volume increased by 13% year on year (Y-o-Y), driven by market-specific efforts in each category aimed at gaining market share.

“The company is actively pursuing substantial opportunities by executing strong sales and distribution strategies in general trade. Moreover, our alternate channels (e-com, Quick Commerce, MT) maintained their momentum with a 19 per cent Y-o-Y volume growth in Q1. The volume of our branded exports increased by 36 per cent Y-o-Y in Q1,” the company stated in its Q1 business update.

As of 11:09 am, Adani Wilmar shares were trading 1.98% higher at ₹339.50.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Thermax shares jumped 4.6 per cent to 5287.10 per share on the BSE in Friday’s intraday trading after the company announced that it had secured a major work order worth Rs 513 crore.

Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a fully owned subsidiary of Thermax, has received an order for Rs. 513 crore from Jindal Energy Botswana to build a 600 megawatt greenfield energy project in Botswana, Southern Africa.

“TBWES will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer,” the firm stated in an exchange filing on Friday.

According to the company, the power generated is meant for sale to the national utility power company in order to support the nation’s expanding power needs.

At 2:32 pm, Thermax shares were trading 6.09%  at ₹5605.00.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

After two big real estate deals were announced, shares of Mahindra Lifespace Developers, the Mahindra Group’s real estate and infrastructure development section, jumped 6% in early morning trading to hit ₹647 each.

In an exchange filing, the company announced closing deals worth ₹2050 crore in gross development value (GDV). These moves include obtaining a third redevelopment project in Mumbai and acquiring a great land parcel in Bengaluru, which will strengthen the company’s step in two of India’s fastest-growing real estate markets.

The company stated that it has been selected as the preferred partner for the renovation of seven residential societies in Mumbai’s posh Borivali West area. The projected total development value of this project is around ₹1800 crore. The project will be carried out under the state’s cluster redevelopment policy.

It also stated that it acquired  2.37 acres of land in Singasandra, South Bengaluru, which is next to its current Mahindra Zen project, which drew a huge amount of curiosity at launch. The land’s total development value is projected to be roughly ₹250 crore and it has a developable potential of about 0.25 million square feet.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

In intraday trading on Friday, shares of HDFC Bank fell more than 4% percent to Rs 1649 per share on the BSE. The counter has dropped 6.1% during the past two trading sessions.

This happened after the firm reported poor growth in its early expectations for the first quarter of fiscal year 2023-24 (Q1FY24).

Gross advances at HDFC Bank were Rs 24.87 trillion on June 30 as compared to Rs 25.08 trillion on March 31; this is a sequential decline of 0.8%. Advances increased 14.9 percent year on year (Y-o-Y), excluding the impact of the merger of erstwhile HDFC Ltd.

As of June 30, the deposit book was at Rs 23.79 trillion, almost unchanged from the previous quarter. Deposits increased 16.5% year on year, excluding the merger’s impact. CASA deposits increased 6.2% year on year while decreasing 5% sequentially. The bank’s liquidity coverage ratio averaged about 123 percent throughout the quarter.

According to the Bank’s regulatory filing, retail loans climbed by over Rs 18,600 crore, commercial and rural banking loans jumped by around Rs 7,200 crore, while corporate and other wholesale loans declined by Rs 26,600 crore compared to March 31, 2024.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Rail Vikas Nigam Limited (RVNL) shares increased by as much as 6.26% on Friday, reaching a new 52-week high of Rs 445 a share.

The share price increased after the company’s announcement that it had signed a memorandum of understanding (MoU) with Delhi Metro Rail Corporation Limited (DMRC).

“RVNL has signed MoU with Delhi Metro Rail Corporation Limited (DMRC) for participation in the upcoming projects in India and abroad as project service provider for metro/ railways/ high speed rail/ highways/ mega bridges/ tunnels/ institutional buildings/ workshops or depots/ S&T works/ Railway electrification,” the state-owned company stated in an exchange filing.

According to the order details, RVNL and DMRC will work together to provide services for metro systems, railroads, high-speed rail, highways, big bridges, tunnels, institutional buildings, workshops, or depots, as well as signaling and telecommunication projects and railway electrification, both in India and abroad.

At 10:02 am, RVNL shares were trading 7.75%  at ₹451.85.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

For the past two sessions in a row, the price of the Dev IT share has been rising. On Wednesday, the small-cap IT stock ended more than five percent higher and on Thursday, it continued to rise for another day. Just minutes after the opening bell of the stock market, the price of Dev IT shares opened higher today at ₹125.50 and reached an intraday high of ₹135.01 per share on NSE. This is a roughly 10 per cent intraday gain.

Dev Information Technology has received major orders totalling about Rs 8 crore. These work orders are for providing SQL Server Enterprise and Windows Server to further enable the Gujarat Chief Minister Office’s Dashboard Application as well as various other key software solution applications specific to several of other Gujarat Government Departments hosted at the Gujarat State Data Centre.

At 12:59 pm, Dev IT shares were trading 6.38%  at ₹130.65.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

In early trade on Thursday, July 4, shares of pharmaceutical company Lupin gained more than 5% as a result of a double upgrade from brokerage Kotak Securities. The price of Lupin shares opened at ₹1645, up from its previous closing of ₹1630.80. It then increased by more than 5% to ₹1,714.10. At around 10:05 am, the shares, however, pared some gains and traded 2.85 percent higher at ₹1,677.20.

Kotak Institutional Equities (Kotak Securities), a brokerage company, has upgraded Lupin stock from a “sell” to an “add,” increasing the stock’s fair value from ₹1,400 to ₹1,805. This suggests that the stock might rise by around 11% from its previous closing price.