Stock Market

The best performers of the session on the Nifty 50 were Tata Consumer Products Ltd (NS:TACN), which rose 4.06% or 44.10 points to trade at 1,131.00 at the close. Meanwhile, Mahindra & Mahindra Ltd. (NS:MAHM) added 2.95% or 56.50 points to end at 1,972.45 and Bharat Petroleum Corp. Ltd. (NS:BPCL) was up 2.56% or 15.40 points to 616.10 in late trade.

Aspira Women’s Health Incorporated (AWH), in its Fourth Quarter and Full-Year 2023 Earnings Conference Call, detailed its financial and operational progress, highlighting a year-over-year revenue growth of 15% and advancements in women’s health diagnostics.

India stocks were higher after the close on Friday, as gains in the Power, Capital Goods and Public Sector Undertakings sectors led shares higher. At the close in NSE, the Nifty 50 rose 0.92%, while the BSE Sensex 30 index climbed 0.90%.

 U.S. stocks struggled for direction Thursday, as investors digested data that continue to suggest the economy is headed for a soft landing, though trading volumes were light ahead of key inflation headed into the long weekend.    

In a recent earnings call, evoke (formerly known as the company before rebranding) reported a 38% increase in revenue and a 41% growth in adjusted EBITDA for 2023, largely attributed to the acquisition of William Hill. Despite these gains, the company experienced an 8% pro forma revenue decline due to regulatory and compliance challenges.

The company explained that new data from two open-label Phase 1/2a studies and two open-label extension (OLE) studies of children and adolescents ages two to 18 with Dravet syndrome who were treated with STK-001 showed “clinically meaningful effects.”

U.S. stocks traded in a muted fashion Friday, still on course for strong weekly gains after expectations of interest rate cuts by the Federal Reserve.

On Monday, Piper Sandler assumed coverage on First Business Financial (NASDAQ:FBIZ) Services, Inc. (NASDAQ:FBIZ), assigning an Overweight rating with a price target of $44. The firm based this target on an 8.5 times multiple of their estimated 2025 earnings per share (EPS), which aligns closely with the average of peers at 8.9 times.

Apple agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China.

On Thursday, Piper Sandler adjusted its outlook on BP (NYSE:NYSE:BP), increasing the price target to $40 from $38 while maintaining a Neutral rating on the stock. The firm highlighted the oil sector’s unusual position of experiencing both volume and cash flow growth, noting significant developments in the fourth quarter of 2023.