Share Market News: Teamo Productions Standalone Net Profit Rises to 69.44 Percent

The net profit of Teamo Productions rose 142.66% to Rs 3.47 crore in the quarter ended March 2024 as against Rs 1.43 crore during the previous quarter ended March 2023.

Share Market News: Net profit of Teamo Productions HQ, an India-based engineering design company specializing in civil engineering activities, has risen to 69.44 per to Rs 4.88 crore in the year ended March 2024. According to the information shared by the company, it was 2.88 crore during the previous year ended March 2023.

Also, the net profit of Teamo Productions rose 142.66% to Rs 3.47 crore in the quarter ended March 2024 as against Rs 1.43 crore during the previous quarter ended March 2023. Meanwhile, the Indian stock market gears up for a cautious opening on Friday, as the aftermath of high inflation and deferred rate cut expectations in the US market. On Wednesday US markets tumbled after inflation data delayed rate cuts hopes beyond June.

The US stocks fell sharply on Wednesday after hotter-than-expected inflation numbers. The Dow Jones Industrial Average was down about 423 points, or 1.1 per cent to 38,461.51. The S&P 500 was down nearly 1 per cent to 5,160.64. The Nasdaq Composite closed 0.8 per cent down at 16,170.36 on Wednesday.

“There will be an impact on Indian market as seen in the US markets on Wednesday evening and in Asian markets on Thursday morning. US inflation coming ahead of estimates lead to a fall in the US markets and rise in US bond yields. Asia has followed with major markets that are open on Thursday being lower and Asian bond yields being up,” said Ajay Bagga, banking and market expert.

The latest U.S inflation data reveals that March inflation figures have surpassed expectations, escalating to 3.5 per cent as against 3.2 per cent in February on an annual basis, thereby constraining the Federal Reserve’s ability to implement rate cuts as previously anticipated.

“U.S march inflation print coming at 3.5 per cent on an annual basis against expectation of 3.4 per cent will certainly constrain the ability of the Fed to cut rates. This acceleration in price rise from 3.1 per cent in January and 3.2 per cent in February to 3.5 per cent in March has dashed hopes of a rate cut in June” said Dr. V K Vijaykumar, Chief Investment strategist, Geojit Financial Services.

The initial optimism of six rate cuts projected for the year has dwindled, with market sentiments now capped at a maximum of three, or possibly two cuts. Against this backdrop, the Indian market at all-time high finds itself at a delicate juncture, grappling with nuanced dynamics of valuation and economic trajectory.