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Rupee weakened by 2 paise to close at a record low of 83.71 against the US dollar.
Intraday, the local currency fell as low as 85.726
It closed at 83.69 on Tuesday.
Source: Bloomberg
Net profit down 18.3% at Rs 76 crore vs Rs 93 crore
Revenue down 2% at Rs 790 crore vs Rs 808 crore
EBITDA down 23.7% at Rs 173 crore vs Rs 227 crore
EBITDA margin at 21.9% vs 28.1%
Signs MoU of Rs 1 lakh crore with Rajasthan govt for 5 years
Source: Exchange filing
Revenue down 2.8% at Rs 13,415 crore vs Rs 13,793 crore
EBITDA up 41.6% at Rs 1,563 crore vs Rs 1,104 crore
EBITDA margin at 11.6% vs 8%
Net profit up 44.6% at Rs 1,105 crore vs Rs 764 crore
Revenue up 92% at Rs 188 crore vs Rs 98 crore
Net profit at Rs 12.7 crore vs loss of Rs 4.3 crore
EBITDA loss of Rs 42 crore vs loss of Rs 43 crore
Virat Diwanji to superannuate as group president of consumer bank effective July 31
Source: Exchange filing
Net profit up 14% at Rs 186 crore vs Rs 163 crore
Revenue up 16% at Rs 2,536 crore vs Rs 2,184 crore
Ebitda up 9.94% at Rs 341.52 crore vs Rs 310.64 crore
Margin down at 13.46% vs 14.22%
Revenue up 4% at Rs 1,365 crore vs Rs 1,318 crore
EBIT up 7% at Rs 236 crore vs Rs 220 crore
Margin at 17.3% vs 16.7%
Net profit up 23% at Rs 204 crore vs Rs 166 crore
Revenue up 19% at Rs 2,228 crore vs Rs 1,874 crore
Net profit up 18% at Rs 241 crore vs Rs 204 crore
EBITDA up 13% at Rs 300 crore vs Rs 265 crore
EBITDA margin at 13.5% vs 14.2%
Stock Market Live: Nifty, Sensex Near Day's Low; Nifty Bank Hits One-Month Low
The tablets are indicated in the management of psychotic disorders.
Source: Exchange filing
Board approves merger of Future Mobility Solutions GmbH wholly-owned step-down arm
Board approves further acquisition of 13% stake in Switzerland-based N-Dream AG for €3 million
Source: Exchange Filing
Gets new T&D orders worth Rs 1,422 crore in India and the US.
Source: Exchange Filing
Net profit at Rs 2,138 crore vs Rs 1,943 crore
Total income up 35% at Rs 31,480 crore vs Rs 23,280 crore
Margin at 41.7% vs 43.6%
EBIT down 4.2% at Rs 135 crore vs Rs 141 crore
Net loss at Rs 323 crore vs loss of Rs 309 crore
Revenue up 0.1% at Rs 324 crore vs Rs 323 crore
Committed to ensure adequate and cheaper availability of coal
Coal production shows robust growth of 10.7% YoY
Source: PIB
To consider fund raising on July 26
Source: Exchange Filing
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Tata Consumer To Issue Right Shares Worth Rs 2,997 Crore, Stock Falls
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Titagarh Rail Shares Rise As It Begins Exporting Traction Converters To Italy
ITC stock rose as much as 3.75% in early trade to a life high of Rs 510.6 apiece on the NSE. It was trading 3.13% higher at Rs 507.6 apiece, compared to a 0.06% advance in the benchmark Nifty 50 as of 09:36 a.m.
The scrip rose as much as 6.6% on Tuesday as there was no announcement made regarding the tax for cigarettes.
It has risen 7.3% in the last 12 months and 9.5% on a year-to-date basis. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 82.
Thirty-six out of the 39 analysts tracking the company have a 'buy' rating on the stock, one recommends a 'hold' and another two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 0.8%.
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The market breadth was skewed in the favour of buyers. As many as 2,093 stocks rose, 643 fell, and 102 remained unchanged on the BSE.
At pre-open, the Nifty was at 24,444.95, down by 0.14% or 34.10 points and the Sensex was at 80343.61, down 0.11% or 85.43 points.
The yield on the 10-year bond opened flat at 6.97%.
It closed at 6.97% on Tuesday.
Source: Cogencis
The local currency opened flat at 83.69 against the US dollar.
It closed at 83.69 on Tuesday.
Source: Bloomberg
Wholly-owned stepdown subsidiary operationalises 250 MW wind power project at Khavda, Gujarat
Source: Exchange Filing
Remains overweight; target Rs 9,000 (+34%)
Net credit costs came at the higher end of guidance
Co indicated better collections in June and July
PAT was in line with our estimate
Raise our credit cost forecast for F25 to 193bp from 185bp
Trim PAT forecasts 1.8% for F25, 1% for F26, and 0.7% for F27
Expect stock performance to be muted in the near term and improve in 2HF25
Downgrades Bajaj Finance to 'underperform'; target Rs 5,700 (-15%)
Expect a slower system wide retail credit growth
Expect law of large numbers to catch up
BAF’s non-mortgage portfolio with yield >13% is ~40% the size of the entire banking
Very significant scale to limit outperformance vs. a slowing segment growth
Expect lower growth or profitability vs. the company’s targets
Increase in loan losses (~212 bps vs. 175-185 bps guidance) seen in this quarter’s results
Factor higher credit costs
Newer segments pose greater challenge
Premium valuation: room for significant multiple contraction
Govt lowers LTCG tax rate to 12.5% vs 20% earlier
Believes unlikely impact on end-users selling existing house and reinvesting in new house
Sees impact on investors selling house and reinvesting in other asset classes
Negative for investors with holding period below 5 yrs and moderate price appreciation (less than 10%)
Markets like Bangalore, Hyderabad and Pune least impacted
Adverse impact expected in NCR and Mumbai markets
Focus on Urban Housing
Budget includes allocation of Rs 10tn for urban housing
PMAY urban allocation for FY25 stood at Rs301.7bn
Sobha, Prestige Estates, Sunteck Realty, Godrej Prop expected to benefit
Reiterates buy with a TP of Rs 3,150 (31% upside)
HUL reported a robust start to FY25 with 4% UVG in 1Q
Estimates low-single digit pricing growth by FY25-end
Medium-term growth outlook remains strong with management.
Focus on premiumization fast-growing subcategories in beauty and channels of the future
Believes that company’s self-help initiatives could drive a turnaround
Rates 'Buy' and raises target to Rs 585
ITC comes as a clear winner with govt leaving tobacco taxes unchanged
GST also to remain stable till March-26
Demand outlook improving
Modest price hike this year will set base for next year
ITC well placed to accelerate revenue growth through blen of volume, price hikes and better mix
Input cost inflation in the base in H2 to support margin expansion
Expects EBIT growth to accelerate from 4% YoY in H2FY24 to 7% in H2FY25
FMCG business to pick up with improving rural demand
Expects ITC to deliver 10% EPS CAGR
ITC trades 27x 1 year forward lower than pre covid
FMCG peers too discount at 50% is higher vs 40% pre covid
Relative to Nifty the stock trades at 29% premium vs 50% pre covid
Narrowing fiscal deficit to 4.9% in FY25 remained on expected lines
Overall allocations on agri, rural, youth employment appeared small
Removal of indexation benefit may help make financial assets but hurt real estate
Budget remained silent on further expansion on PLI manufacturing schemes
Govt FY25 gross tax revenue growth estimate of 10.8% remained conservative
Overall infra-allocation remained in-line with past ten years infra spend
Approves allotment of 1.42 crore shares to eligible QIBs at issue price of Rs 211/share aggregating to Rs 299 crore
Source: Exchange Filing
Acquires remaining stake in Mirzapur Thermal Energy (UP) from Adani Infra (India)
Mirzapur Thermal Energy (UP) now wholly-owned subsidiary of company
Source: Exchange Filing
Shareholders approve appointment of Vijay Kumar Sharma as independent director
Source: Exchange Filing
Price band change from 10% to 5%: Mahanagar Telephone Nigam,
Ex/record Dividend: Indo Count Industries, Honeywell Automation India, Hatsun Agro Product, Fortis Healthcare, Avadh Sugar & Energy, Pidilite Industries, IFGL Refractories, Dynamic Cables, Elgi Equipments, Fiem Industries, Vinyl Chemicals.
Ex/record AGM: Indo Count Industries, Honeywell Automation India, Camlin Fine Sciences, Pidilite Industries, Avadh Sugar & Energy, V-Mart Retail, IFGL Refractories, Dynamic Cables, Elgi Equipments, Fiem Industries, Balrampur Chini Mills, Vinyl Chemicals.
Moved out short-term Framework: Titagarh Rail Systems, PNB Gilts.
Elgi Equipment: Al Mehwar Commercial Investments L.L.C. sold 22.97 lakh shares (0.72%) at Rs 673 apiece.
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