Monday, August 17
Mumbai: The Nifty 50 companies are expected to report single-digit year-on-year growth in aggregate revenue and net profit for the December quarter, in line with the trend in recent quarters after excluding exceptional gains. According to the latest ETIG estimates, revenue is expected to grow by 7.4% while net profit may rise by 6.1%. In the year-ago period, the growth was 6.2% and 10% in that order. The profit will be dragged down in the latest quarter by a handful of companies including Tata Motors PV, pharma and IT companies. "We expect earnings of the companies under our coverage to grow 16% year-on-year (the highest in eight quarters)," said Gautam Duggad, institutional research head, Motilal Oswal Financial Services, adding that excluding financials, the earnings growth may accelerat
Mumbai: Shares of Indian exporters slumped in Thursday's trade as Donald Trump's decision to back a Bill allowing the US to impose 500% tariffs on Indian imports triggered panic. If this Bill is passed, the additional levies would come on top of the existing 50% tariffs on imports imposed last year, raising the overall burden on imports. Shares of textiles, apparel, seafood and drug makers were among the most hit in weak trading on Thursday. Textile exporters Gokaldas Exports, KPR Mill, Vardhman Textiles, and Welspun Living fell 2-8% on Thursday, while shrimp exporters Avanti Feeds, Apex Frozen Foods and Coastal Corporation declined 2-8%. Pharma stocks like Dr Reddy's Laboratories, Torrent Pharmaceuticals and Sun Pharmaceutical, which are currently exempt from tariffs, fell 1-3%.126424942
