The broader market performance, however, is expected to be better by virtue of good performance of state-owned banks on a low base. Nearly one-third of Sensex 30 companies are likely to report a drop in fourth quarter profits, the Bank of America Merrill Lynch (BofA-ML) has said. The brokerage expects the aggregate earnings of Sensex companies to grow by 7.1 per cent year-on-year (y-o-y) in the fourth quarter of FY17. The growth will be led by commodity companies. Excluding commodity ... Rediff.com, 1 week ago
Recovery seen in Q4, companies continue to focus on enhancing cash flow After a strong start this festive season, textile and apparel manufacturers and retailers suffered a sharp contraction in demand due to the liquidity crisis following demonetisation of high value currency notes in November 2016. If the latest study by Edelweiss Securities is an indication, India's leading pure fashion and lifestyle company, Aditya Birla Fashion and Retail (ABFRL), has lost Rs 100 crore (Rs 1 billion) in ...Rediff.com, 2 months ago
In the broader market, the BSE Midcap index bucked the trend to gain 0.3% Snapping four-session long gaining spree, the market on Monday settled lower as sentiment remained cautious ahead of the Union Budget 2017, while a steep surge in stocks of Bharti Airtel and Idea Cellular provided some succour to the frontline indices. The S&P BSE Sensex settled the day at 27,849, down 33 points, while the broader Nifty50 quoted 8,632, down 8 points at close. In the broader market, the BSE Midcap ...Rediff.com, 2 months ago
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