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Rupee Weakens To Fresh Record Low Against US Dollar
Market breadth was skewed in favour of sellers. Around 2,155 stocks declined, 1,743 stocks rose, and 118 stocks remained unchanged on BSE.
Gland Pharma Ltd. has received a tentative approval from US Food and Drug Administration for Latanoprostene Bunod ophthalmic solution.
Source: Exchange filing
Approves closure of Southcan unit in Karnataka post implementation of voluntary retirement scheme last FY
Factory produced ~6.28% of total production capacity of co last FY
Source: Exchange filing
ITC, up 4.1%
Titan Co, up 6.75%
NCC, up 9%
AstraZeneca Pharma, up 12%
Amara Raja, up 2.5%
As of 2:35 p.m.
Revenue up 11.8% at Rs 1,033 crore vs Rs 924 crore
EBITDA at Rs 94 crore vs Rs 40 crore
Margin at 9.1% vs 4.4%
Net profit at Rs 58 crore vs Rs 17 crore
Revenue up 3.8% at Rs 3464 crore vs Rs 3338 crore
EBITDA [RD] 13.3% at Rs 603 crore vs Rs 696 crore
EBITDA margin at 17.4% vs 20.6%
Net profit down 29.8% at Rs 252 crore vs Rs 359 crore
[14:31, 7/23/2024] +91 73043 50790: Q1 EARNINGS - HERITAGE FOODS (Cons, YoY)
Revenue rose 4.6% at Rs 1,114 crore vs Rs 1,064 crore
Ebitda fell 1.3% at Rs 167 crore vs Rs 169 crore
Ebitda margin at 15% vs 15.9%
Net profit fell 15.4% at Rs 92.3 crore vs Rs 109 crore
Total income rose 20.3% at Rs 3,760 crore vs Rs 3,125 crore
Net profit rose 45.5% at Rs 513 crore vs Rs 353 crore
SpiceJet Ltd.'s board has approved raising up to Rs 3,000 crore via QIP.
Source: Exchange filing
Revenue down 1.9% at Rs 1025 crore vs Rs 1044 crore
EBITDA flat at Rs 113.01 crore
EBITDA margin at 11% vs 10.8%
Net profit down 13.9% at Rs 41 crore vs Rs 47 crore
Rupee Hits Fresh Record Low As Budget Proposes Higher Capital Gain Tax
Revenue rose 1.8% at Rs 424 crore vs Rs 417 crore
Ebitda fell 21.2% at Rs 41 crore vs Rs 52 crore
EBITDA margin at 9.6% vs 12.4%
Net loss fell 92.5% at Rs 2 crore vs Rs 24 crore
Great Eastern Shipping Co. is to sell its Medium Range Product Tanker, Jag Pranav.
Source: Exchange filing
Finance Minister Nirmal Sitharaman started Budget speech at Lok Sabha, New Delhi.
Get all real time updates on Budget 2024.
Rushil Decor Ltd. has expanded into North American market to strengthen global presence.
Source: Exchange filing
Hahnair partnered with RateGain Travel Technologies Ltd. forairline pricing solution, AirGain to optimise revenue streams.
Source: Exchange filing
HUL's stock rose as much as 0.79% during the day to Rs 2,756.95 apiece on the NSE. It was trading 0.06% higher at Rs 2,736.9 apiece, compared to a 0.23% decline in the benchmark Nifty 50 as of 10:25 a.m.
It has risen 6% in the last 12 months and 2.7% on a year-to-date basis. The relative strength index was at 77.
Twenty-five out of the 41 analysts tracking the company have a 'buy' rating on the stock, twelve recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6%.
Ajooni Biotech entered Gujarat market for supply of pure veg cattle feed.
Source: Exchange filing
The scrip rose as much as 7.55% intraday to Rs 198.50 apiece, the lowest level since June 5, before paring losses to trade 3.7% lower at Rs 207.13 apiece, as of 10:06 a.m. This compares to a 0.19% decline in the NSE Nifty 50.
It has risen 56.31% on a year-to-date basis and 150.66% in the last 12 months. Total traded volume so far in the day stood at 0.59 times its 30-day average. The relative strength index was at 39.03.
Out of the six analysts tracking the company, one maintain a 'buy' rating, one recommend a 'hold,' and four suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 10.7%.
Market breadth was skewed in favour of buyers. Around 1,720 stocks advanced, 1,067 stocks declined, and 122 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 59.65 points or 0.24% higher at 24,568.90, and the S&P BSE Sensex was 0.29% or 235.80 points higher at 80,724.30, while investors look forward to Budget announcement from Finance Minister Nirmala Sitharaman.
The yield on the 10-year bond opened flat at 6.97%.
It closed at 6.97% on Monday.
Source: Cogencis
RBI Bank Ltd. has approved appointment of Chandan Sinha as Part-Time Chairman with effect from Aug 3.
Source: Exchange filing
The local currency strengthened by 2 paise to open at 83.64 against the US dollar.
It closed at 83.66 on Monday.
Source: Bloomberg
L&T Technologies Ltd. is in pact with SymphonyAI to provide AI-based services.
Source: Exchange filing
One 97 Communication Ltd. is in pact with Axis Bank to offer POS solutions and EDC devices to merchant network.
Alert: EDC device is electronic data captured device.
Source: Exchange filing
Citi Research maintained a 'Sell' on JK Cement Ltd. and raised the target price to Rs 4,400 which implied a 10% downside
Q1 EBITDA rose 19% YoY on higher sales volumes, lower costs
Outperformance vs estimates largely on lower costs
Company on track to expand capacity to 30 MTPA by FY26
Marginally tweak FY25-27E EBITDA estimates by 0-3% on lower costs
Maintain 'Buy' with a target price Rs 500 compared to Rs 450), upside 18.8%
market is not yet appreciating & fairly pricing in the return of growth and resumption of payouts
Expect 6% dividend yield on FY26-27E vs. nil payouts for the last 2Y
Ascribe a higher target multiple for Indus (9x to 10x)
Introduce a 90-day Positive Catalyst Watch
Catalysts: Recovery of past dues from VI
Improved growth outlook as VI revives capex
Positive developments in the AGR case
Potential purchase of 3% stake by Bharti.
Retain Buy with TP Rs. 880, Upside 15%
Strong growth in aerospace and defense drives revenue
Margins declined 140bp YoY, mainly due to higher SG&A expenses
Company expects higher order inflows in 2QFY25
Margins expected to pick up in upcoming quarters led by op leverage
Momentum sustenance led by healthy order inflows and high customer stickiness
Estimate Co to report a CAGR of 33%/50%/69% in revenue/EBITDA/ Adj. PAT over FY24-26
Maintain EPS Estimates and retain 40x FY26 P/E
Motilal Oswal Reiterates 'Neutral' Rating on Oberoi Realty Ltd.
Price target of Rs 1,560, which implied a 10% downside
Pre-sales doubled to Rs 1,070 cr driven by 360-West bookings
Started to witness an uptick in its rental portfolio
Expect 41% CAGR in pre-sales over FY24-26
Re-rating dependent on re-investment of strong cash flow generation
Finance Minister Nirmala Sitharaman will present union budget for fiscal year 2024-25 today.
Catch all live updates on Budget 2024 here.
Citi Research has maintained a 'Buy' with a target price Rs. 630 up from Rs. 560., which implied an upside of 15%.
Estimates tweaked to reflect stronger demand growth expectations
FY25-27E earnings estimates are thus increased by 2-10%
Raise target P/E for core business to 22 times from 20 times;reflecting better demand trends
Value core lead acid batteries at Rs.490 per share from Rs.420 earlier
Continue to value Li-ion cell business at Rs.140 per share
Based on Exide’s investment for the 1st phase at 2.5 times
Citi Research has maintained a 'Buy' on GAIL (India) Ltd., and raised its target to Rs 250, which implied a 12% upside.
Makes minor 0-1% changes to FY25-27E EBITDA estimates.
Changes made on slight increase in average gas transmission volume forecasts.
Increase target EV/EBITDA multiple for gas transmission segment from 10 times to 11 times.
Mahindra Logistics Ltd. has approved re-appointment of Rampraveen Swaminathan as MD & CEO for 5 years with effect from Feb 4, 2025.
Source: Exchange filing
GE Power India Ltd. has received an order worth Rs 348 crore from NTPC GE Power Services Pvt. Ltd. for renovation and modernisation of steam turbines.
Source: Exchange filing
Coforge Ltd.'s wholly-owned step-down arm Coforge DPA NA signs an asset purchase pact with OptML Inc.
Coforge DPA NA is in pact with OptML to acquire customer contracts, key managerial personnel, employees & sub-contractors, vendors.
Source: Exchange filing
Revenue rose 1.79% at Rs 2,400.8 crore vs Rs 2,358.5 crore
EBIT fell 29.65% at Rs 211.8 crore vs Rs 301.1 crore
EBIT margin at 8.82% vs 12.76%
Net profit fell 39.22% at Rs 139.3 crore vs Rs 229.2 crore
Coal India Bags First Critical Mineral Asset With Graphite Block
SEBI Returns Draft Documents Of Crizac's Rs 1,000-Crore IPO
Uttarakhand Government Hikes Hospital Contract Estimate To Rs 593.99 Crore
Gensol Engineering Wins Rs 600-Crore Solar Projects In Gujarat
Suzlon Energy Q1 Results: Profit Rises Threefold, Beats Estimates
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