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25 firms that doubled profit in Q3 see their stocks take leap of faith SECTIONS Share Synopsis The strong earnings reflected a mix of cost optimisation measures, sharper-than-expected demand recovery and healthy operational delivery. Agencies Related NEW DELHI: As the domestic economy showed signs of strong revival from a technical recession, many Indian companies reported doubling of profits year on year in the December quarter, sending their stocks soaring. The strong earnings reflected a mix of cost optimisation measures, sharper-than-expected demand recovery and healthy operational deliv...

Banking and financial stocks did log gains but failed to appear among the top gainers. BSE Bankex index rose about 7 percent during this period while BSE Finance rose about 11 percent.

The market is in the green in the current year so far, but Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally.

Explore Now NEW DELHI: The BSE Midcap index might be trading at a record high, but two-third of index stocks still need to rise at least 20 per cent and up to 1,242 per cent to regain their previous peaks. As of Friday, out of 97 Midcap index stocks, 60 needed at least 20 per cent rise to revisit their highs: 40 among them needed over 50 per cent jump and seven needed at least 500 per cent surge, data compiled from corporate database Ace Equity suggests. Analysts said the rally in the midcap space has been polarised. Only select midcaps have participated in the rally; and they too were the on...

Field　programmable　gate　array　made　by　Achronix　(Courtesy　of　Achronix) South Korea-based private equity firm Ace Equity Partners has acquired Achronix Semiconductor Corp., a US-based fabless company, through a special purpose acquisition company (SPAC) merger. It marks the first time for a Korean PE firm to set up a SPAC on the Nasdaq to acquire a US-based company. Achronix, with a post-transaction equity value of $2.1 billion, will merge with ACE Convergence Acquisition Corp., a $230 million blank check firm set up by Ace Equity Partners. The new entity will begin trading on...