Business

[ad_1] Top stocks to buy (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, IRCTC, Jubilant FoodWorks and Shree Cement are the top buy calls for today.Here’s his view on Nifty, Bank Nifty and the top stock picks for April 17, 2025:Index View: NiftyNifty has covered over 1700 points from its opening low printed on last Monday, in a matter of 5 sessions. The index is now on the verge of turning positive again for the month as it is still few points in the red on an MTD basis. This double bottom bounce back has been stronger than its last month’s recovery from sub 22000 levels as the market digests a rut cut by the RBI along with easing trade war tensions by US with other countries […]

[ad_1] The sensex rose for a third straight session on Wednesday, boosted by banks and as investors shrugged off global trade war jitters to focus on supportive local factors. The sensex gained 0.4% or 309 points to 77,044, while Nifty rose 0.5% to 23,437. The sensex has risen 5.3% or nearly 4,000 points from its low after April 7 low of 73,138.The recovery has been fuelled by US President Donald Trump's exemptions from tariffs, the forecast of an above-average monsoon, and prospects of more interest rate cuts in India. "The stars are now aligning for a strong rally for India. Earnings estimates are bottoming out and we expect the downgrade cycle to arrest. Valuations have also corrected," said Jaykrishna Gandhi of Emkay Global Financial Services. Eleven of the 13 major sectors rose on the day, while the broader midcaps and […]

[ad_1] MUMBAI: A thaw in tariff-related developments around the world on Tuesday lifted investor sentiment on Dalal Street, leading to a 1,578 point (2.1%) rally in the sensex, which closed at 76,735 points.This rise made it the first major market in the world to recoup all its losses post April 2. Nifty on the NSE also rose sharply, closing 500 points (2.2%) higher at 23,329 points, just three points off its April 2 close.On that day, US President Donald Trump announced new tariff rates for almost all of America’s trading partners. A global market turmoil followed as investors feared retaliations by those countries affected by the new tariff rates, which they thought could lead to a global economic recession.After a week of turmoil, Trump suspended the implementation of most of the new tariffs, scaled back some, or exempted some items […]

[ad_1] MUMBAI: IndusInd Bank on Tuesday said that an external agency reviewing discrepancies in account balances of its derivatives portfolio quantified the hit to its net worth at Rs 1,979 crore, as of June 2024. The bank said this would translate to a 2.27% hit to its net worth as of Dec 2024.On March 10, the bank had said that an internal review of the same derivatives portfolio quantified the dent to its net worth at about 2.35%. Earlier, the bank did not quantify the hit to its net worth in terms of money, but some estimates put it at Rs 2,100 crore as of Dec 2024.On Tuesday, IndusInd Bank said it will “appropriately reflect the resultant impact in the financial statements for FY 2024-25 and continue to take suitable steps to augment the internal controls relating to the derivative […]

[ad_1] Wall Street's biggest stock traders just delivered their best quarter ever. And that was before US President Donald Trump's trade war made stock and bond markets even wilder. Goldman Sachs reported its highest-ever quarter for equity trading, after JPMorgan Chase and Morgan Stanley hit similar milestones last week. On Tuesday, Bank of America and Citigroup beat Wall Street estimates for first-quarter profit as their traders reaped a windfall from volatile markets. The banks' top executives see it continuing, at least for now, as markets remain on edge. [ad_2] Source link

[ad_1] Hermes’s market cap at $276.3 billion surpassed that of rival LVMH Moet Hennessy Louis Vuitton, the conglomerate which tried to buy the maker of the Birkin bag 15 years ago. The reversal comes after LVMH fell 8% following disappointing results on slowing demand in China and the US amid an escalating trade war. [ad_2] Source link

[ad_1] Wipro reported a 25.9% year-on-year rise in consolidated net profit for the fourth quarter in March, reaching Rs 3,569.6 crore. However, the company has issued a cautious forecast for the upcoming quarter, with IT services revenue expected to fall by up to 3.5% in Q1FY26, amidst ongoing global uncertainties.CEO and managing director Srini Pallia said that while the demand for tech re-invention remains strong, clients are approaching the market with caution due to macroeconomic factors. He added, "As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth."For the fourth quarter of FY25, the Bengaluru based IT giant’s revenues stood at Rs 22,504.2 crore, reflecting a modest increase of 1.33% from the previous year. Net profit for the period was up 25.9% compared to Q4FY24, […]