Appoints John Slaven as CEO of Aluminum Business effective from October 03, 2023
Designates John Slaven as Senior Management Personnel
Stephen Russell Moore elevated as Deputy CEO of Cairn Oil & Gas
Transition in leadership at Cairn Oil & Gas effective from August 04, 2023
Source: Exchange Filing
This boosted other income for SBI
Net NPA target for this year is 0.5%
Source: SBI press conference
Revenues down 0.42% at Rs 441.16 crore vs Rs 443 crore
Net profit up 2.2% at Rs 229.29 crore vs Rs 224.33 crore
Ebitda up 14.1% at Rs 336.42 crore vs Rs 294.72 crore
Margins at 76.26% vs 66.53%
Source: Exchange Filing
Revenues down 57.15% at Rs 297.72 crore vs Rs 694.79 crore
Net profit up 4.9% at Rs 41.81 crore vs Rs 39.85 crore
Ebitda loss of Rs 32.65 crore vs Ebitda profit of Rs 41.99 crore
Source: Exchange Filing
Revenues up 0.25% at Rs 891 crore vs Rs 888.78 crore (Bloomberg Estimate Rs 927.83 crore)
Net profit down 5.84% at Rs 86.92 crore vs Rs 92.31 crore (Bloomberg Estimate Rs 95.25 crore)
Ebitda down 6.96% at Rs 133.18 crore vs Rs 143.14 crore (Bloomberg Estimate Rs 146.43 crore)
Margins at 14.95% vs 16.10% (Bloomberg Estimate: 15.78%)
Source: Exchange Filing
SBI reported slippages worth Rs 3,185 crore in March quarter
Recoveries and upgradation at Rs 3,607 crore
Domestic corporate loans up 12.4% at Rs 9.82 lakh crore
Domestic retail loans up 16.46% at Rs 12.04 lakh crore
Deposits rose 12% from a year ago to Rs 45.31 lakh crore
Source: SBI media release
Revenue down 17.55% at Rs 2318.3 cr vs Rs 2811.83 cr
Net profit down 58.92% at Rs 136.6 cr vs Rs 332.55 cr
Ebitda down 59.01% at Rs 215.44 cr vs Rs 525.56 cr
Margins at 9.29% vs 18.69%
Source: Exchange Filing
Other income in Apr-Jun quarter at Rs 12,063 crore, compared to Rs 2,312 crore a year ago.
Provisions against bad loans down 38% year-on-year at Rs 2,652 crore
Source: SBI results release
To merge Mahindra Heavy Engines, Mahindra Two Wheelers and Trringo.com with itself
Source: Exchange Filing
Revenues up 20.13% at Rs 846.6 crore vs Rs 704.7 crore
Net profit down 84.14% at Rs 11.7 crore vs Rs 73.8 crore
Ebitda up 5.33% at Rs 173.41 crore vs Rs 164.63 crore
Margins at 20.48% vs 23.36%
Source: Exchange Filing
Revenue up 2.06% at Rs 3718.08 crore vs Rs 3643.03 crore
Net profit up 351.4% at Rs 158.59 crore vs Rs 35.13 crore
Ebitda up 60.46% at Rs 457.12 crore vs Rs 284.88 crore
Margins at 12.29% vs 7.82%
Source: Exchange Filing
Signs pact with Germany's SMS group to promote decarbonisation technology in steel making
Source: Bloomberg
The broader market indices were trading higher; the S&P BSE MidCap Index was up 0.55%, whereas S&P BSE SmallCap Index was 0.89% higher.
All the the 20 sectors compiled by BSE advanced S&P BSE Information Technology rose the most.
Wins Rs 117.91 crore solar power plant order from ONGC
Source: Exchange filing
Zomato Q1 Results Review: Brokerages Raise Target Price On Surprise Profit, Revenue Visibility
At pre-open, the S&P BSE Sensex Index was up 210.77 points or 0.32% at 65,451.45 while the NSE Nifty 50 Index was 81.15 points or 0.42% higher at 19,462.80.
Source: Bloomberg
The yield on the 10-year bond opened flat at 7.19% on Friday
Source: Bloomberg
The local currency opened flat at Rs 82.74 against the U.S dollar on Friday
Source: Bloomberg
U.S. FDA inspection at company's Chantilly plant ended with zero observations
Alert: Granules Pharmaceuticals is a wholly owned foreign subsidiary of Granules India
Source: Exchange Filing
Asian Stocks Mixed As Traders Await US Jobs Data: Markets Wrap
Alchemy Capital's Hiren Ved Bets On These Sectors | Alpha Moguls
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 40,400 shares on August 2.
Ultramarine & Pigments: Promoter Daya Sridhar sold 7,849 shares between August 2 and 3.
LG Balakrishnan & Bros: Promoter Tribe Holdings sold 10,705 shares between August 1 and 2.
Bharti Airtel Q1FY2024 (Consolidated, QoQ)
Revenues up 3.9% at Rs 37,440 crore vs Rs 36,009 crore.
Net profit down 46.3% at Rs 1,612.5 crore vs Rs 3,005.6 crore.
Ebitda up 4.8% at Rs 19,598.5 crore vs Rs 18,697.1 crore.
Margins at 52.35% vs 51.92%.
Mobile ARPU at Rs 200 vs Rs 193.
One-time loss of Rs 3,416.3 crore due to changes in Nigerian Foreign Exchange operations.
Lupin Q1FY2024 (Consolidated, YoY)
Revenue up 29% at Rs 4,814 crore vs Rs 3,744 crore. (Bloomberg estimate: Rs 4,441 crore)
Net profit of Rs 452 crore vs net loss of Rs 89 crore. (Bloomberg estimate : Rs 258 crore)
Ebitda up 422% at Rs 856 crore vs Rs 164 crore (Bloomberg estimate : Rs 686 crore)
Margins at 17.8% Vs 4.4%. (Bloomberg estimate: 15.4%)
Cummins India Q1FY2024 (Consolidated, YoY)
Revenues up 30.78% at Rs 2,218.25 crore vs Rs 1,695.92 crore.
Net profit up 78.53% at Rs 353.72 crore vs Rs 198.13 crore.
Ebitda up 59.49% at Rs 342.45 crore vs Rs 214.72 crore.
Margins at 15.44% vs 12.66%.
Eicher Motors Q1FY24 (Consolidated, YoY)
Revenues up 17% at Rs 3,986 crore vs Rs 3,397.5 crore. (Bloomberg estimate Rs 4,029.5 crore)
Ebitda up 23% at Rs 1,021 crore vs Rs 831 crore. (Bloomberg estimate Rs 968.5 crore)
Ebitda margins at 25.6% vs 24.5%. (Bloomberg estimate: 24%)
Net profit up 50% at Rs 918 crore vs Rs 611 crore. (Bloomberg estimate Rs 848.4 crore)
Deepak Nitrite Results Q1FY24 (Consolidated, YoY)
Revenues down 14.07% at Rs 1,768.34 crore vs Rs 2,057.99 crore. (Bloomberg estimate Rs1,896.63 crore)
Net profit down 36.10% at Rs 149.9 crore vs Rs 234.62 crore. (Bloomberg estimate Rs 258.5 crore)
Ebitda down 41.07% at Rs 209.75 crore vs Rs 355.98 crore. (Bloomberg estimate Rs 316.55 crore)
Margins at 11.86% vs 17.29%. ( Bloomberg estimate:16.69%)
Yasho Industries Ltd Q1FY24 Results (Consolidated, YoY)
Revenues down 15.19% at Rs 150.3 crore vs Rs 177.24 crore.
Net profit down 23.69% at Rs 14.78 crore vs Rs 19.37 crore.
Ebitda down 14.34% at Rs 25.44 crore vs Rs 29.7 crore.
Margins at 16.92% vs 16.75%.
Zomato Q1FY2024 (Consolidated, YoY)
Revenues up 70.86% at Rs 2,416 crore vs Rs 1,414 crore. (Bloomberg estimate: Rs 2,261.11 crore)
Net profit Rs 2 crore vs loss of Rs 186 crore. (Bloomberg estimate: loss of Rs 177.83 crore)
Ebitda loss of Rs 48 crore vs Ebitda loss of Rs 307 crore. (Bloomberg estimate: Ebitda loss of Rs 208.45 crore)
Radico Khaitan Q1FY24 Results (Consolidated, YoY)
Revenues up 26% at Rs 4,023.32 crore vs Rs 3,183.80 crore.
Net profit up 10% at Rs 68.27 crore vs Rs 61.99 crore.
Ebitda up 29% at Rs 119.51 crore vs Rs 92.51 crore.
Margins at 3% vs 2.9%
Gulf Oil Lubricants India Q1FY24 (Consolidated, YoY)
Revenues up 14.89% at Rs 811.71 crore vs Rs 706.45 crore. (Bloomberg estimate: Rs 809.60 crore)
Net profit up 23.16% at Rs 68.02 crore vs Rs 55.23 crore. (Bloomberg estimate: Rs 68.60 crore)
Ebitda up 9.13% at Rs 92.8 crore vs Rs 85.03 crore. (Bloomberg estimate: Rs 94.80 crore)
Margins at 11.43% vs 12.04%. (Bloomberg estimate: Rs 11.71%)
Mahanagar Gas Q1FY24 (Consolidated, YoY)
Revenues up 5.71% at Rs 1,537.79 crore vs Rs 1,454.75 crore. (Bloomberg estimate: Rs 1,506.31 crore)
Net profit up 98.92% at Rs 368.4 crore vs Rs 185.2 crore. (Bloomberg estimate: Rs 279.76 crore)
Ebitda up 82.55% at Rs 521.27 crore vs Rs 285.55 crore. (Bloomberg estimate: Rs 412.28 crore)
Margins at 33.90% vs 19.63%. (Bloomberg Estimate: 27.37%)
Bannari Amman Sugars Q1FY24 (Consolidated, YoY)
Revenues up 0.97% at Rs 430.86 crore vs Rs 426.72 crore.
Net profit down 47.10% at Rs 13.59 crore vs Rs 25.69 crore.
Ebitda up 23.77% at Rs 43.53 crore vs Rs 35.17 crore.
Margins at 10.10% vs 8.24%
HCC Q1FY24 (Consolidated, YoY)
Revenues up 15.07% at Rs 2,564.83 crore vs Rs 2,228.92 crore.
Net profit at Rs 52.73 crore vs net loss of Rs 280.67 crore.
Ebitda up 11.02% at Rs 314.47 crore vs Rs 26.16 crore.
Margins at 12.26% vs 1.17%.
Navneet Education Q1FY24 (Consolidated, YoY)
Revenues up 93.49% at Rs 791.45 crore vs Rs 409.02 crore. (Bloomberg Estimate: Rs 793.70 crore)
Net profit up 531.82% at Rs 144.94 crore vs Rs 22.94 crore. (Bloomberg Estimate: Rs 122.90 crore)
Ebitda up 249.41% at Rs 208.88 crore vs Rs 59.78 crore. (Bloomberg Estimate: Rs 186.50 crore)
Margins at 26.39% vs 14.61%. (Bloomberg Estimate: 23.50%)
KEC International Q1FY24 (Consolidated, YoY)
Revenues up 27.89% at Rs 4,243.59 crore vs Rs 3,318.08 crore. (Bloomberg Estimate: Rs 3,906.37 crore)
Net profit up 36.46% at Rs 42.33 crore vs Rs 31.02 crore. (Bloomberg Estimate: Rs 35.92 crore)
Ebitda up 45.08% at Rs 244.36 crore vs Rs 168.43 crore. (Bloomberg Estimate: Rs 220.54 crore)
Margins at 5.75% vs 5.08%. (Bloomberg Estimate: 5.65%)
Venus Pipes & Tubes Q1FY24 (Consolidated, YoY)
Revenues up 58.11% at Rs 179.61 crore vs Rs 113.6 crore.
Net profit up 91.11% at Rs 17.41 crore vs Rs 9.11 crore.
Ebitda up 90.40% at Rs 27.57 crore vs Rs 14.48 crore.
Margins at 15.35% vs 12.75%.
Sandur Manganese & Iron Ores Q1FY24 (Consolidated, YoY)
Revenues down 44.37% at Rs 362.53 crore Rs 651.68 crore.
Net profit up 18.86% at Rs 39.95 crore vs Rs 33.61 crore.
Ebitda up 3.91% at Rs 57.9 crore vs Rs 55.72 crore.
Margins at 15.97% vs 8.55%.
DCX Systems Q1FY24 (Consolidated, YoY)
Revenues down 20.23% at Rs 170.1 crore vs Rs 213.25 crore.
Net profit up 0.54% at Rs 5.6 crore vs Rs 5.57 crore.
Ebitda up 54.78% at Rs 7.59 crpre vs Rs 4.91 crore.
Margins at 4.47% vs 2.30%.
JM Financials Q1FY24 (Consolidated, YoY)
Revenues up 34.59% at Rs 1,064.95 crore vs Rs 791.25 crore.
Net profit down 10.99% at Rs 176.56 crore vs Rs 198.38 crore.
NIM at 6.0% vs 6.9%.
Gross NPA at 4& vs 3.5%.
Net NPA at 2.3% vs 2.3%.
Gross Loan Book up 26.06% at Rs 15,891 crore vs Rs 12,606 crore.
LIC Housing Finance Q1FY24 (Standalone, YoY)
Revenue up 28% at Rs 6746.51 crore vs 5285.46 crore
Profit up 43% at Rs 1323.66 crore vs 925.48 crore
Net Interest income up 39% at Rs 2209.44 crore vs 1592.48 crore
NIM at 3.21% vs 2.51%.
SBFC Finance: The initial public offering was fully subscribed on the first day. The IPO has been subscribed 1.91 times as of 5:00 pm on Thursday with bids led by non-institutional investors, subscribed 4.12 times and retail investors, subscribed 2.06 times. The portion reserved for employees was subscribed 1.10 times and institutional investors subscribed only 0.03 times.
Concord Biotech: The company will launch its initial public offering on Aug. 4. The Indian biopharma company’s IPO comprises 20.93 million equity shares by Helix Investments through an offer for sale. Out of the total IPO size, up to 50% of the net offer is reserved for qualified institutional buyers, while a minimum of 15% is set for non-institutional investors. At least 35% is to be allotted to retail individual investors. The business has set aside up to 10,000 equity shares under the IPO for subscription by eligible employees, with a discount of Rs 70 per equity share being offered to them. It has collected Rs 465 crore from anchor investors ahead of the IPO.
Vedanta: S&P Global Ratings revised the rating outlook on Vedanta Resources to negative from stable to reflect the heightened refinancing risk due to its large debt maturities up until March 2025. Moreover, its promoter entity, Twin Star Holdings, sold 15.4 crore shares (4.1%) at Rs 258.55 apiece in a bulk deal.
Mining companies: The parliament passed the Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023, to provide a fixed 50-year production lease for offshore minerals. Under this legislation, the government aims to introduce auctions as the route to awarding production leases for offshore minerals.
Maruti Suzuki: The board will meet on Aug. 8 to consider the mode of payment for Suzuki Motor Corporation's stake in the Suzuki Motor Gujarat plant by way of either cash or preferential issuance of equity shares.
Paytm: The company's average monthly users rose by 19% YoY to 9.3 crore. Payment volumes for merchants, or Gross Merchandise values, rose 39% on-year to Rs 1.47 lakh crore.
KEC International: The company has secured new orders of Rs 1,065 crore across its various businesses, including energy transmission and distribution and cables. The year-to-date order intake stands at Rs 4,500 crore, a growth of 30% y-o-y.
NBCC: The company won a contract worth Rs 301 crore to construct a hostel-cum-residential block at the University of Delhi.
Torrent Power: The company, through its subsidiary, will supply 132 MW of solar power to Shapoorji Pallonji for its desalination plants in Gujarat. The project cost is Rs 700 crore.
Go First Insolvency: The resolution professional approached the Supreme Court against the Delhi High Court order. The high court had rejected Go First's appeal against aircraft inspection by lessors.
JM Financial: The board approved the appointment of Nishit Shah as the Chief Financial Officer in place of Manish Sheth, effective Oct. 1.
Radico Khaitan: The company re-appointed Sushmita Singha, Tushar Jam, and Sharad Jaipura as Independent Directors for a second term of five years.
Hatsun Agro Product: The company inaugurated its chocolate manufacturing unit in Telengana. The unit has a capacity to manufacture 7000 kg of chocolate per day.
Prime Industries: Non-Executive and Non-Independent Director Parveen Singhania to resign with effect from August 11.
SJVN: The company inked an MoU with Sikkim Urja for the trade of 180 MW of hydropower from SUL’s 1200 MW Teesta-III hydroelectric project in Sikkim to distribution licensees and open access consumers.
LIC Housing Finance: The board appointed Tribhuwan Adhikari as Additional Director in the capacity of managing director and chief executive officer.
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