Citi upgrades NTPC to ‘buy’ from ‘neutral'; shares up over 2%
Posted on 8th September 2015 |
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| NTPC shares jumped over 2 per cent in the morning trade on Tuesday after Citi upgraded NTPC to ‘buy’, citing capacity additions, improving and assured return on equity, low valuations and no regulatory uncertainty till FY19. Earlier, Citi group had ‘neutral’ rating on NTPC stocks. At 10.45 am, NTPC was trading 2.35 per cent higher at Rs 115.30. It opened at Rs 113 and had touched a high and low of Rs 116 and Rs 113, respectively, in trade so far. Sensex was up 0.14 per cent at 24,929. According to Eikon data, NTPC is trading at price-to-book value of 1.04 vs 1.4x of rivals. Stocks has 20 buy, nine hold and five sell ratings. On a year-to-date basis, share price of the thermal power giant NTPC declined 20.89 per cent to Rs 112.65 on September 8. Sensex declined around 10 per cent during the same period. However, government’s plan to sell stake in the company widely expected to remain as key overhang on the stock. For the quarter ended June 2015, the company posted net profit of Rs 2135.35 crore, down 2.99 per cent, against Rs 2201.20 crore in the corresponding quarter a year ago. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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