Praj Industries shares surged 6.5% after Q1FY27 net profit more than doubled year-on-year to Rs 12 crore, while revenue rose 12% to Rs 716 crore. The company reported Rs 1,000 crore in order intake and ended the quarter with an order backlog of Rs 4,589 crore, providing strong execution visibility.
Big Tech’s AI capex surge is putting pressure on free cash flow, with Microsoft, Amazon, Alphabet and Meta spending $165 billion in Q2 against just $7 billion in free cash flow. Jefferies’ Chris Wood warns that growing reliance on cash-burning AI firms OpenAI and Anthropic could pose a hidden risk.
Sammaan Capital reported a 27% YoY decline in consolidated profit to Rs 243 crore in Q1FY27, while revenue from operations also fell. The company reported Rs 56,239 crore in AUM and Rs 3,875 crore in disbursements, with plans to accelerate growth and reduce funding costs.
Chinese and Hong Kong stocks declined Friday as tightening liquidity, cautious positioning ahead of corporate earnings and property-sector weakness weighed on sentiment. The CSI300 fell 0.1%, Shanghai Composite 0.2%, and Hang Seng 0.9%. Hong Kong technology stocks dropped sharply, led by JD.com, while concerns over cross-border taxation and weak domestic demand further pressured markets.
Zetwerk Manufacturing Business Ltd has updated its IPO papers to initiate a substantial Rs 2,600 crore offering. The funds raised are earmarked for paying off debts and making strategic acquisitions. Over recent fiscal years, the company has seen remarkable revenue growth and its order book has doubled. Functioning as a tech-driven manufacturing network with global reach, Zetwerk caters to various sectors, including renewable energy and defence.
The Securities and Exchange Board of India (Sebi) has introduced a mandatory Credit Risk-o-Meter for debt securities, aiming to enhance investor awareness regarding credit risk. This user-friendly tool features a standardized, colour-coded scale, similar to those used in mutual funds. Issuers and online platforms are required to showcase this meter in relevant documents, with public feedback on the proposal expected by September 3.
The rupee gained two paise against the US dollar in the early market hours, driven by a softening dollar internationally. Nonetheless, the outflow of foreign investments from Indian equities is weighing on the rupee's performance. Compounding this issue, rising crude oil prices linked to geopolitical conflicts further affected market sentiments, resulting in declines for the Sensex and Nifty in morning trading.
Vedanta Aluminium, Hindalco and NALCO fell as aluminium prices retreated after Norsk Hydro resumed Alunorte refinery production, easing supply shortage concerns.
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