Quick Wrap: Nifty Media Index gains 4.39%
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Business Standard
5 hours ago
- Business Standard
Single-digit earnings growth likely for India Inc in June quarter
Brokerages however expect a further slide in revenue growth due weak demand in key sectors such as Banks, IT Services, FMCG, Automobile, Oil & Gas and mining & metals Mumbai Listen to This Article Brokerages are expecting Indian companies to show another quarter (April-June 2025) of single-digit earnings growth and a further slowdown in revenue. Overall growth in corporate profits in the April-June 2025 quarter (Q1FY26) is, however, likely to be better than in Q4FY25, led by margin gains for commodity producers such as JSW Steel, Hindalco, Reliance Industries Ltd (RIL), Ultratech Cement, and telecom operator Bharti Airtel. According to various brokerage estimates, the combined net profits of the Nifty 50 companies are likely to grow 4.6 per cent year-on-year (Y-o-Y) in Q1FY26, an improvement from 0.5 per cent in Q4FY25 and 3.6 per
Hans India
6 hours ago
- Hans India
Nifty eyes record highs as late rally sparks optimism; All eyes on US trade deal
After a sluggish start on July 9, the Nifty 50 rebounded impressively, closing near the day's high and gaining 61 points to end at 25,522. A late-session rally—fueled by renewed interest in largecap financials—helped the index break out of a narrow trading range, with analysts now eyeing a potential push towards record highs. Financial giants like Kotak Mahindra Bank, which surged over 3% following a strong Q1 update, were instrumental in lifting market sentiment. Other top gainers included Eternal and Asian Paints, while Titan, Dr. Reddy's, and Bajaj Auto dragged the index, with Titan tumbling nearly 6% on weak jewellery segment performance. The broader markets mirrored the recovery. Despite early losses, the Nifty Midcap 100 slipped only 0.17%, while the Smallcap 100 fell by just 0.29%, signaling a broad-based bounce-back. Sectoral performance was mixed. Nifty Realty, Financial Services, and Private Banks led the gainers, while Consumer Durables, Pharma, and Healthcare saw profit booking. In thematic plays, textile stocks gained sharply after the US imposed a 35% tariff on Bangladesh, raising hopes for increased Indian exports. AMC stocks also saw action following SEBI's proposal to ease mutual fund norms under tighter regulations. Foreign institutional investors (FIIs) continued to sell in the cash market, while domestic institutional investors (DIIs) stepped in as net buyers, cushioning the fall. Market experts remain bullish. Siddhartha Khemka of Motilal Oswal highlighted improving sentiment driven by trade deal hopes and the upcoming earnings season. Technically, analysts see key resistance levels ahead. HDFC Securities' Nandish Shah noted that Nifty has been forming higher highs and lows, with resistance at 25,669. A breakout could target the 26,000 mark, while 25,331 is the support. LKP Securities' Rupak De pointed to a bullish setup on the charts, citing a green candle forming after a hammer and doji pattern—often a signal of further upside. He placed resistance at 25,600–25,800 and support around 25,400. Angel One's Rajesh Bhosale added that a move above 25,700 could trigger fresh highs, with 25,300–25,450 acting as a buffer zone on the downside. Nagaraj Shetti of HDFC Securities echoed the positive trend, saying a breakout above 25,700 may push Nifty towards the 26,000–26,200 zone. Immediate support lies at 25,425. As global cues, especially the US trade negotiations, remain pivotal, traders are advised to watch key levels for the next leg of market movement.
Mint
7 hours ago
- Mint
Zee shareholders approve appointment of directors
New Delhi: Shareholders of media and entertainment company Zee Entertainment Enterprises Ltd have approved the appointments of Divya Karani as an independent director and Saurav Adhikari as a non-executive director on the board of the company. While Zee said the approvals reflected shareholders' confidence in the board, proxy advisory firms iAS and SES had recommended against ratifying Adhikari's and Karani's appointments. Zee said its board has been making efforts to enhance its guidance to the management and strengthen the governance framework with policies. 'As part of this approach, the composition of the board is also being enhanced by enlisting experienced members from diverse sectors,' it added. Karani comes with over three decades of experience spearheading advertising and media agencies across India, South Asia, the UK and Asia Pacific. Previously, she served as the CEO of Dentsu Media, South Asia, leading the agency for over 12 years. She currently serves on the Board of Kulfi Collective, a media network that builds brands and studios that function at the intersection of content, commerce and culture, as its chairperson and executive director. Adhikari also comes with over three decades of domain expertise in global businesses and markets across technology, FMCG and consumer durables sectors as an operations, general management and investment specialist. His prior experience includes senior global leadership and executive roles across HCL, Unilever and PepsiCo, amongst others. He is currently the founder and senior partner at Indus Tech Edge Fund I, a growth fund focused on globalizing India's technology ecosystem. Zee's shareholders have been unhappy with the extent of control the promoters have over the company despite their small stake. Following its failed merger with the Indian entertainment business of Japan's Sony Group Corp., Zee has set in motion a turnaround plan to cut costs and double down on growth-focused investments. Zee is developing new business units to expand its audience and augment revenue streams, as per an investor presentation published this month.
