In early trade on April 18, the share price of Power Grid Corporation of India surged by nearly 4 percent following the company's successful bid in tariff-based competitive bidding for establishing inter-state transmission systems. These projects will be executed on a build, own, operate, and transfer (BOOT) basis.The bid for transmission projects in Rajasthan and Gujarat. They will handle evacuat...

Shares of Angel One Ltd gained over 7 percent on April 18, a day after the company reported a 27.3 percent on-year (YoY) growth in net profit at Rs 340 crore for the quarter ended March 31. The company's revenue from operations soared 64.3 percent over last year to Rs 1,357.2 crore.Angel One is undertaking a change in its business model, which will incrementally drive the focus towards gaining mar...

Shares of Tata Communications edged higher on April 18, a day after the company reported a consolidated net profit of Rs 321.20 crore for the quarter ended March 31, 2024, up 7.2 times sequentially and almost in line with Street estimates. The company's total income grew 1.8 percent on-quarter to Rs 5,748.7 crore.The EBITDA margin, a key measure of profitability, stood at 18.6 percent for the Marc...

The Indian benchmarks traded higher intraday amid volatility on April 18. According to experts, the Nifty's move below 22,200 in the last trading session suggests the possibility of a dead cat bounce of 150-200 points, reaching the 22,300-22,350 zone.Fresh long positions for a significant directional move of 400-500 points are recommended only above 22,400.At 10:29 am, the Sensex was down 8.20 poi...

Ambuja Cements' entry into the high-priced Kerala and Tamil Nadu markets won't be disruptive just yet, according to a report by analysts at brokerage Nomura.The analysts wrote that the incumbents are well-placed and that they do not expect any pricing pressure immediately. The incumbents include Ramco Cements.  In its  April 16 report, Nomura issued a reduced call on Ambuja Cements, with a targe...