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Tag: surges

  • Adani Power stock gives 29 pc return in 14 days as share price surges

    Adani Power stock gives 29 pc return in 14 days as share price surges

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    Adani Group’s power business arm, Adani Power, continued its upward trend for the eighth trading session, with its share price rising by 2.78 percent to Rs. 242.50 today.

    The share price surge has been an impressive 29.47 percent in just 14 days, as it has risen from Rs 187.30 on April 19. This impressive rise in the share price of Adani Power has helped the company recover 78.08 percent from its 52-week low of Rs 132.55, which was seen on February 28, 2023.

    Buy, sell or hold Adani Power shares?

    While the share price of Adani Power dipped earlier due to the Hindenburg report, it has now recovered significantly. However, technical analysts have mixed opinions about the further rise of Adani stocks.

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    Some predict that the stock will rise to Rs 265-290 levels, while others suggest profit booking. Investors are advised to exercise caution and do their due diligence before investing in Adani stocks.

    Gautam Adani’s net worth surges

    The surge in Adani Power’s share price has also resulted in an improvement in the net worth of Gautam Adani, Chairman of Adani Group. Today, he emerged as the top winner on the world’s rich list, as his net worth surged by USD 520 million.

    Today’s top five winners

    NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
    Jeff Bezos126.7+1600+1.25US
    Hubert Burda4.7+503+11.89Germany
    MacKenzie Scott27.9+420+1.53US
    Gautam Adani50.6+413+0.82India
    Radhakishan Damani16.1+266+1.68India

    Today’s top five losers

    NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
    Carl Icahn14.7-2900-16.26US
    Warren Buffett113.3-2100-1.83US
    Colin Zheng Huang22.6-1600-6.41China
    Larry Page90.7-1400-1.53US
    Mark Zuckerberg85.2-1400-1.58US

    Though the rise in the share price of Adani Power has been impressive, and the company has recovered well from the dip it experienced earlier, it remains to be seen whether the stock will continue its upward trend or not.

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    ( With inputs from www.siasat.com )

  • Bharti Airtel Q3 net profit surges 92 pc to Rs 1,588 crore

    Bharti Airtel Q3 net profit surges 92 pc to Rs 1,588 crore

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    Delhi: Telecom operator Bharti Airtel on Tuesday reported a 91.5 per cent year-on-year rise in consolidated net profit at Rs 1,588 crore for the three months ended December 2022, helped by competitive growth across businesses.

    Total revenue rose nearly 20 per cent to Rs 35,804 crore in the third quarter of the current financial year “backed by strong and consistent performance delivery across the portfolio”, the company said in a statement.

    Its consolidated net income (after exceptional items) stood at Rs 1,588 crore for the just ended quarter, translating into an increase of 91.5 per cent year-on-year.

    The consolidated net income (before exceptional items) was at Rs 1,994 crore, up 147 per cent compared to the year-ago period.

    Bharti Airtel Managing Director Gopal Vittal said the company delivered another quarter of consistent and competitive growth across businesses.

    “Revenue grew sequentially by 3.7 per cent while EBITDA margin expanded to 52 per cent. Our strategy of winning quality customers has helped us add 6.4 million 4G customers and exit the quarter with an industry leading ARPU (Average Revenue Per User) of Rs 193,” Vittal said.

    Bharti Airtel’s revenue in India grew 19 per cent to Rs 24,961.5 crore in the 2022 December quarter from Rs 20,912.7 crore a year ago.

    The total capital expenditure of the company rose 52 per cent to Rs 9,313.6 crore in the latest December quarter from Rs 6,101.5 crore in the same period a year ago. The increase was mainly on account of 5G network rollout in India.

    In India, the company’s capital expenditure jumped 74 per cent to Rs 8,095.4 crore during the 2022 December quarter from Rs 4,653.8 crore a year ago.

    According to Vittal, the higher capital expenditure led to a 12 per cent decline in the company’s operating free cash flow to Rs 5,071.1 crore.

    The telco’s 5G rollout is on track to cover all towns and key rural areas by March 2024, the top honcho said.

    India Mobile ARPU increased to Rs 193 during the reporting quarter from Rs 163 in December 2021 quarter, according to the company.

    The company had reported ARPU of Rs 190 in the 2022 September quarter.

    Vittal said that postpaid, enterprise, homes as well as Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure.

    The company reported a 5.8 per cent growth in its global customer base at 51 crore, including 36.92 crore customers in India.

    The mobile subscriber base of Bharti Airtel in India grew 2.9 per cent year-on-year to 33.22 crore, including 1.8 crore postpaid customers.

    The 4G data customers base increased 10.8 per cent to 21.67 crore and data consumption per customer per month on Airtel network increased by 11 per cent to 20.29 GB from about 18 GB on a year-on-year basis.

    Airtel Africa’s net income grew 22.17 per cent to Rs 788 crore in the latest December quarter. In the year-ago period, the same stood at Rs 645 crore.

    The Africa revenue jumped around 22 per cent to Rs 11,087.6 crore in the third quarter of the current fiscal from Rs 9,105.3 crore in December 2021 quarter.

    At the end of the 2022 December quarter, the company’s net debt increased nearly 32 per cent to Rs 2.09 lakh crore from Rs 1.59 lakh crore a year ago.

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    ( With inputs from www.siasat.com )

  • Alex de Minaur surges into Australian Open last 16 and a date with Djokovic

    Alex de Minaur surges into Australian Open last 16 and a date with Djokovic

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    The quarter-finals of a grand slam has been for Alex de Minaur what platform nine and three-quarters is for mere humans – impossible to get in. Aside from last year’s US Open, when he made it that far in a draw reduced by Covid 19, the fourth round has been the Australian’s ceiling.

    He is on the verge again at Melbourne Park, after making the fourth round here for a second consecutive year, except that the draw has handed him Novak Djokovic. And he does not think the nine-time Australian Open champion’s hamstring problem will make his assignment any easier.

    “Look, I’m not going to read into too much of that injury,” he said. “Ultimately he’s one of the best players in the world, and I’m just going to have to take it to him and not shy away from the occasion. I’m going to make sure I make it as tough as I can, and just bring the recent experience I’ve had on court and how I’ve been feeling.”

    De Minaur, the 22nd seed and Australia’s only remaining men’s hope after Alexei Popyrin’s loss to the American Ben Shelton, wasted no time surging into the second week on Saturday, dispatching Benjamin Bonzi in straight sets. The 23-year-old broke his French opponent seven times on Rod Laver Arena in a regulation 7-6 (7-0), 6-2, 6-1 victory lasting only two hours and eight minutes.

    “I’m very happy, I can’t lie,” De Minaur said. “Honestly, as a kid, this is what you train for, to be playing on this court in front of you guys on the biggest stages in the world. Every time I get out here I’ve got to pinch myself.”

    De Minaur has never faced Djokovic, but he has speed on his side against a player who was visibly hampered by injury in his win over Grigor Dimitrov and afterwards described De Minaur as “one of the quickest players on the tour”.

    He also has morale-boosting form on his side, having beaten reigning champion Rafael Nadal in this month’s United Cup and last year’s runner-up, Daniil Medvedev, in November. “These are the matches you want to be playing,” he said. “You don’t want a walkover into the final of a slam. You want to be playing the best in the world. That’s what I’ve got.

    “I’m going to probably have the best in the world in front of me, and I’m ready for the battle. I want to take it to them and show what I’m made of in the biggest of stages and just test myself out there and really take it to them.”

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    ( With inputs from : www.theguardian.com )