SAIL FINANCIAL RESULTS
BMW Industries Q2 Results: Net profit rise 43% YoY to Rs 21.62 crore
BMW Industries Ltd has reported an impressive 42.7 percent increase in net profit for the quarter ending on September 30. The firm's total income surged by 33 percent compared to the same quarter last fiscal year, while EBITDA rose by 25 percent, showcasing its resilience and growth. Notably, the new greenfield downstream steel complex in Bokaro commenced operations, with future plans focused on optimizing capacity utilization across these facilities.
D-Street braces for weak opening on negative GIFT Nifty cues
Benchmark Nifty increased by 1.6% to close at 23,810 following an extended rally. This upward trend was influenced by easing crude prices and continuous foreign fund inflows. Analysts expect Indian equities to consolidate positively after a sharp recovery in recent sessions. The rupee appreciated by 9 paise against the US dollar amid substantial buying in domestic equity markets. India VIX rose by 1.
Luxury cruise’s ‘Resident Wikipedia’ CEO deletes apology letter to stranded passengers after offering hope of saving its ‘never-ending’ voyage
Kathy Villalba, CEO of Villa Vie Residences, expressed sincere regret towards Odyssey residents affected by fuel shortages, forced to disembark in Cambodia. She recognized the turmoil brought on by rising fuel costs due to the US-Iran conflict, which has led the company to temporarily halt operations. As they consider restructuring options, the surge in fuel expenses has raised serious concerns about their operational viability.
D-St set for a cautious opening as GIFT Nifty signals muted start
In a significant trading session, benchmark indices registered solid gains, reflecting renewed market confidence following the Fed's interest rate announcement. The second half saw a notable uptick in buying, enhancing broader market performance. Analysts are hopeful for a continuation towards the 23,100 mark if support levels are sustained. Interestingly, foreign portfolio investors were net sellers while domestic institutional players showed bullish tendencies.
D-St set for a negative opening as GIFT Nifty signals weak start
Benchmark Nifty experienced a marginal decline after recovering from a significant low during the trading session. Analysts believe Indian equities may remain range-bound. The rupee weakened against the US dollar due to rising crude oil prices and a strengthening dollar. Foreign portfolio investors were net buyers on Wednesday, with significant purchases noted.
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US cruise ship that charged up to $120,000 per person leaves around 200 passengers stranded in Cambodia, gives them just seven hours to disembark
The Villa Vie Odyssey cruise ship has left around 200 passengers stranded in Cambodia as fuel costs continue to rise. After two years of uninterrupted sailing, the operator halted operations, granting passengers only seven hours to disembark at Sihanoukville's port. With many retirees and remote workers now in search of accommodation far from home, the operator is prioritizing the coordination of disembarkations and providing support to those affected.
D-St set for a negative opening as GIFT Nifty signals weak start
Benchmark Nifty gained on Monday, while broader markets also rallied amid ongoing geopolitical tensions. Analysts suggest that Indian stock markets will trade sideways until there is greater clarity on global developments. Foreign portfolio investors net sold shares, while domestic institutional investors were net buyers. The rupee depreciated for the third consecutive day, influenced by elevated crude oil prices.
D-Street poised for a positive start as GIFT Nifty trades firmly higher
Indian equity benchmarks experienced a third consecutive session of declines due to selling pressure. Global cues remained weak, impacting market sentiment and performance. A recovery is possible if the index reclaims 22,800, while immediate support is at 22,600. Foreign institutional investors were net buyers, but the rupee fell against the dollar amid rising crude oil prices. Investors are advised to assess levels carefully as market volatility persists.
D-St set for a negative opening as GIFT Nifty signals weak start
Benchmark indices began the day with gains but faced selling pressure as trading continued. The indices eventually closed lower amidst increasing Brent crude oil prices over $110. Analysts suggest that Monday's high of 23,175 is a crucial resistance level to watch. Foreign portfolio investors significantly bought shares, while domestic institutional investors were net buyers as well.
US military says Hormuz remains open, 97% of ships cross safely despite Iran attacks
The US military claims that 97% of vessels have transited the Strait of Hormuz safely. This follows recent incidents where Iranian projectiles targeted commercial vessels in the area. CENTCOM reported that US forces and regional partners are enhancing maritime security to ensure uninterrupted commerce. Additionally, Iran's economy is reportedly under strain due to US actions. Both the US and Iran assert their control over this strategic shipping route.
Ahead of Market: 10 things that will decide D-Street action on Monday
Sensex and Nifty snapped their eight-week losing streak on Friday, surging over 1% as IT stocks rallied and crude prices eased. The rebound added more than Rs 4 lakh crore to BSE-listed companies’ market capitalisation, while positive market breadth favoured bulls.
Defence stocks: Time to change strategy in a bearish market? An ecosystem with down and upside potential of -39% to plus 37%
The current fall is both at the level of the indices and the broader market. And when the selling is this broad, almost every sector is affected. But they do not all feel it equally, and it is worth knowing why every sector behaves differently at different points of time. Stock Reports Plus, powered by Refinitiv, is a comprehensive report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. The simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
Why did stock market crash today? Sensex tumbles 1,124 points, Nifty below 22,800; 6 factors behind Rs 8 lakh crore rout
On Monday, the Indian stock market saw a major sell-off, with the Sensex and Nifty indexes plummeting due to escalating Iran-US tensions that drove up oil prices. This volatility dampened investor sentiment while bond yields reached highs not seen in years, creating additional pressure on equities. The rupee depreciated against the US dollar, raising worries about currency stability as foreign investors continued liquidating their stocks.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Sensex and Nifty reversed morning losses to close higher on Tuesday, amid sharp volatility on the first expiry day after the closing auction session launch. Healthcare and financial stocks gained, while broader market breadth remained mixed and cautious.
CAG points to inventory handling lapses at SAIL
The Comptroller and Auditor General (CAG) has revealed significant discrepancies in Steel Authority of India Limited's (SAIL) inventory management from 2016 to 2023, leading to financial losses. Faulty price fixation for blast furnace slag resulted in a revenue loss of ₹441.40 crore. Inadequate inventory control of raw materials further caused production shortfalls and a potential revenue loss of ₹1,231.52 crore.
SAIL FY25 net profit falls 23% to Rs 2,371 crore
Steel Authority of India Limited's consolidated bottomline saw a 22.66% decline for fiscal year 2024-25. The total income stood at Rs 1.03 lakh crore. The Board proposed a final dividend of Rs 1.60 per share. However, the company reported a strong fourth quarter with a net profit increase of 11.13%.
SAIL shares jump over 3% despite Q3 PAT falling 66% YoY
SAIL's shares surged 3.5% to Rs 103.65 on BSE post-Q3FY25 results showing a 66% YoY drop in net profit to Rs 142 crore. The revenue from operations increased 5% to Rs 24,490 crore. EBITDA improved slightly to Rs 2,389 crore, though PAT fell 84% versus Q2FY25.
SAIL Q2 Results: Profit falls 31% to Rs 897 crore, total income down 16.8%
Steel Authority of India Ltd (SAIL) reported a 31% YoY decline in Q2 net profit to Rs 897.15 crore, with total income down 16.8%. Lower performance was due to cheaper imports, price drops, and inventory challenges.
SAIL discloses Covid-19 impact on financials at Rs 771.76 crore due to fall in net realisations
The slowdown in sales, and cash realisations, has put a strain on the financial resources of the company due to which the total borrowings increased by around Rs 500 crore.
SAIL swings to profit in December quarter
The company’s turnover went up 21 per cent to Rs 15,443 crore in Q3FY18 against Rs 12,688 crore in Q3FY17.
Fitch downgrades SAIL to 'BB'
Fitch Ratings has downgraded Steel Authority of India Limited's (SAIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BB' from 'BBB-'.
SAIL's exposure in International Coal Venture increased disproportionately to 49 per cent: CAG
In a report tabled in Rajya Sabha, the CAG said ICVL did not acquire any foreign coal assets in the first 5 years of its operations.
SAIL reports a 26% slide in Q4 net profit to Rs 334 crore
Steel Authority of India reported a 26% slide in fourth quarter (Q4) net profit to Rs 334 crore on lower sales realization due to weak steel prices.
SAIL made Rs 320 cr irregular payment to employees: CAG
CAG said SAIL introduced performance related pay (PRP) scheme for its executives, following the guidelines issued by the DPE.
Government eyes Rs 3,500 cr from SAIL disinvestment by March-end
The Department of Disinvestment (DoD) is already planning roadshows in Singapore, Hong Kong, US, UK and continental Europe for the proposed SAIL disinvestment.
SAIL suffers 23.38% drop in Q3 net on higher finances costs
According to the unaudited results, the total income from operations fell to Rs 10,670 crore in Q3 of the current financial year FY13 from Rs 10,728.79 crore in the same period last year.
Fitch affirms Steel Authority of India at 'BBB-', outlook negative
SAIL's ratings reflect a favourable outlook on its products given growth in the domestic infrastructure, auto and white goods sectors.
Verma gives Rs425.36cr dividend cheque to PM on behalf of SAIL
Steel Authority of India (SAIL) today said, on behalf of the state-run firm, Steel Minister Beni Prasad Verma has handed over a Rs 425.36 crore dividend cheque to the Prime Minister Manmohan Singh yesterday.
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