9:26 AMZomato soars 10% on solid Q1 beatgt;> Zomato reported a massive jump in its net profit in Q1FY25 to Rs 253 crore, from Rs 2 crore reported in Q1FY24.
The company's net profit jumped 44.5 per cent sequentially from Rs 175 crore in the preceding quarter.
The company's revenue from operations jumped 74 per cent YoY to Rs 4,206 crore in Q1FY25.
As in the past few quarters, growth was driven by Blinkit, the quick commerce business of Zomato.9:25 AMITC scalps gains after Q1 results in weak marketgt;>The FMCG giant reported a marginal decline of 0.26 per cent year-on-year (YoY) in net profit in Q1FY25, dragged by the paper, paperboard and packaging, hospitality, and agri-business segments.gt;> The diversified conglomerate's consolidated net profit in Q1FY25 slipped to Rs 5,091.59 crore from Rs 5,104.93 crore in the year-ago period.
ITC's consolidated gross revenue stood at Rs 20,029.60 crore for the quarter under review, up by 7.5 per cent YoY compared to Rs 18,639.48 crore reported in Q1FY24.9:24 AMTata Motors falls 4% after Q1 show; Mgt highlights JLR, CV slowdowngt;>The automaker's consolidated profit after tax climbed a whopping 74 per cent YoY in Q1FY25 to Rs 5,566 crore, as against Rs 3,203 crore reported in the same quarter last fiscal year.
Tata Motors beat Street estimates of around Rs 5,100 crore.8:57 AMPre-open markets view: The sharp dip in the US 10-year bond yield to 3.95% indicates the markets fear-- The sudden turn for the worse for the US economy reflected in the ISM Manufacturing index dipping sharply to 46.6 spooked the US and other developed country markets yesterday.
This has brought back recession fears in the US.-- The market which has been soaring on the soft landing expectation has turned nervous on the possibility of a US recession and its impact on the market.
The sharp dip in the US 10-year bond yield to 3.95 per cent indicates the markets fear.-- This can have an impact on the Indian market, too.
The rally in India has been sustained more by money flows into the market than by fundamentals.
Without fundamental support the rally cannot sustain.-- It remains to be seen whether the buy on dips strategy will work this time too.
Since valuations are high some profit booking, particularly in mid and small caps, can be considered.Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.8:54 AMNifty hits 25,000: Next 5,000-pt rally could be led by banks, IT, autosThe Nifty 50 index hit the 25,000-mark for the first time ever on Thursday, August 01, 2024.
The index had hit the 20,000 mark for the first time ever on September 11, 2023, and took 221 trading days from that level to hit the 25,000 mark on August 01.
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