Sharemarket news

Suzlon Energy stock locked at 5% upper circuit, hits multi-year high; shares soar 300% in a year   Shares of Suzlon Energy have surged, hitting a 5 percent upper circuit and reaching a multi-year high of Rs 80.36 on the NSE as of August 12. This strong performance has led to a 47 percent return over the past month, and the company’s market capitalization recently crossed the Rs 1 lakh crore threshold. The stock is now trading at its highest level since March 2010. The recent rally in Suzlon’s shares follows the company’s announcement of acquiring a 76 percent stake in Renom Energy Services Private Limited from the Sanjay Ghodawat Group. This strategic acquisition, executed in two tranches, marks Suzlon's entry into the multibrand Operations and Maintenance Services (OMS) sector. Morgan Stanley had previously issued an overweight rating on Suzlon with a target price of Rs 73.4 per share, a benchmark that has now been surpassed. The brokerage highlighted that Suzlon’s valuation, at...

   Cochin Shipyard Q1 results: Net profit rises 77% to Rs 174 crore Cochin Shipyard on August 8 reported a 77 percent jump in net profit at Rs 174.2 crore in the first quarter of FY25, compared to Rs 98.6 crore in the corresponding period of the previous financial year. However, the PSU firm's net profit declined 33 percent from Rs 258.8 crore in the March quarter, it said in a stock exchange. The state-run firm’s revenue from operations jumped 62.1 percent to Rs 771.47 crore in the quarter under review over Rs 475.86 crore in the year-ago period. But, it declined significantly from Rs 1,286 crore in the previous quarter The cost of materials consumed in the June quarter almost doubled to Rs 316.6 crore from Rs 166.4 crore in the same period a year ago. It was Rs 626.5 crore in the March quarter. #cochinshipyard #beststock #topgainer #positive stock #stockmarket #money

    Dow jumps 500 points as comeback rally gains steam: .On Thursday, stocks rebounded as new labor market data restored investor confidence in the U.S. economy, following a sharp decline earlier in the week. The Dow Jones Industrial Average rose by 575 points, or 1.5%, while the S&P 500 saw a 2% increase, and the Nasdaq Composite climbed 2.5%. Eli Lilly, a major pharmaceutical company, surged nearly 9% after reporting earnings that exceeded expectations and raising its full-year outlook due to strong demand for its diabetes drug Mounjaro and obesity treatment Zepbound. Other stocks that had been hit hard on Monday also rebounded, with chipmakers Nvidia and Broadcom rising 4% and 5.2%, respectively. Meta Platforms gained 3%, and Apple inched up 1.3%. The latest weekly jobless claims report showed a decrease in first-time filings for unemployment benefits, which totaled 233,000 last week—17,000 fewer than the previous week and below the Dow Jones estimate of 240,000. This d...

 Zomato, Suzlon, PNB, Shakti Pumps: These 120 firms posted over 100% jump in profit in Q1. Should you buy? If stock prices are slaves to earnings in the long run then it makes sense on Dalal Street to look for a company that has reported robust financial results for the quarter ended June 30. Among the well-known names on the list, the net profit of food delivery aggregator Zomato climbed manifold to Rs 253 crore during the quarter under review. It reported a profit of Rs 2 crore in the corresponding quarter last year. According to Emkay Global Financial Services, Zomato once again churned out impressive results, with all segments registering healthy growth. For food delivery, the management sees gross order value growth sustaining at over 20% in the near term, slightly lower than in the last few quarters. Blinkit’s stellar growth is complemented by continued improvements in profitability, where it sustained adjusted EBITDA breakeven despite investing in new stores. The management ...