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Bharti Hexacom shares fell 4% on Wednesday, August 5, as weak subscriber additions overshadowed strong quarterly results. While the company reported a 10.9% year-on-year revenue increase and higher ARPU, investors reacted to the slow user growth. Citi maintained a neutral rating, noting that mobile subscriber additions remained below their forecasts.
AMD beat quarterly revenue estimates and forecast Q3 sales of $13 billion, driven by high AI chip demand. Despite this, shares fell nearly 9% as investors wanted even bigger gains. CEO Lisa Su said AMD expects its data-centre sales to more than double, showing the company is growing its AI business.
Systematix Institutional Equities initiated coverage on Vedanta Aluminium with a Buy rating and a target price of Rs 598. The brokerage said the stock could see a 28% upside. They expect earnings growth to get a boost from higher volumes, deeper backward integration, and strong demand for aluminium products.
Sensex and Nifty 50 showed different movements for the third session on Wednesday, 5 August. The Sensex jumped over 600 points, while the Nifty 50 fell by 0.20%. Experts said, "These closing price anomalies should begin to normalise as participation in the CAS increases." This divergence followed new auction rules.
MapMyIndia shares fell nearly 8% on Wednesday, hitting a low of Rs 1,048. This happened despite the company reporting strong Q1 earnings on Tuesday. Revenue rose 15% and profit after tax jumped 8% year-on-year. Many investors saw the stock price drop even as the firm showed solid financial growth.
Chinese equities hit a one-week high on Wednesday as semiconductor stocks rallied. Shares climbed after reports that Samsung and SK Hynix are evaluating Chinese chipmaking equipment. While chip stocks gained, optical module makers fell due to potential U.S. trade restrictions. Easing Middle East tensions also helped boost overall investor confidence.
Japan's Nikkei share average surged more than 3% on Wednesday, driven by strong gains in artificial intelligence-related stocks. The index advanced 3.16% to 65,979.02 as of 0101 GMT. Upbeat corporate earnings and forecast upgrades further boosted investor sentiment, while softer oil prices and lower US Treasury yields also supported markets.
The RBI kept the repo rate at 5.25% on Wednesday, August 5, marking the fourth straight pause. Meanwhile, US markets hit record highs, but SpaceX shares fell 7% after results. The LIC offer for sale also opened for retail investors today, following a strong response from non-retail investors on Tuesday.
Smt Motwani sold shares and bought her husband’s Mumbai property for Rs 7.5 crore in June 2021. She claimed a Section 54F tax exemption, but the Income Tax Department denied it. She fought the case, and ITAT Mumbai ruled that a property transaction between spouses is not a sham.
The Reserve Bank of India kept its repo rate at 5.25% on Wednesday. The six-member committee chose caution as food and fuel costs pushed inflation up. Governor Sanjay Malhotra said, "The higher inflation is mostly on account of fuel and food with little signs of generalisation of price pressures so far."
On August 4, five Nifty500 stocks showed bullish signals after gaining over 4% on the White Marubozu scanner. This pattern appeared when the opening price was the lowest and the closing price was the highest. Traders said it showed strong buying pressure, as buyers stayed in control throughout the entire session.
Five Nifty stocks are currently trading at significant discounts of up to 36% compared to their historical averages. Investors often look for such opportunities when share prices fall. Many traders use these gaps to build their portfolios, as the data showed several major companies are now available at lower valuations.