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Rupee weakened 2 paise to a record closing low of 83.72 against the US dollar.
It closed at 83.70 on Thursday.
Source: Bloomberg
Net profit down 14% at Rs 39 crore vs Rs 45 crore
EBIT margin at 19.7% vs 22.1%
EBIT down 6.9% at Rs 35 crore vs Rs 38 crore
Revenue up 4.2% at Rs 179 crore vs Rs 172 crore
Revenue up 6% at Rs 6,694 crore vs Rs 6,329 crore
EBITDA up 15% at Rs 1,716 crore vs Rs 1,494 crore
Net profit up 18% at Rs 1,175 crore vs Rs 998 crore
Margin at 25.6% vs 23.6%
Board approves second interim dividend of Rs 4/share for FY25
Second interim dividend for FY25 amounts to Rs 1,564 crore
Source: Exchange Filing
Total income up 41% at Rs 5,829 crore vs Rs 4,134 crore
Net profiti up 29.8% at Rs 942 crore vs Rs 726 crore
Shares of One 97 Communication Ltd. hit a 10% upper circuit and rose to Rs 505.05 apiece, the highest level since Feb 8. It remained locked in the upper circuit as of 2:46 p.m. This compares to a 1.64% advance in the NSE Nifty 50 Index.
It has declined 35.42% in 12 months, and 19.89% on year-to-date basis. Total traded volume so far in the day stood at 1.9 times its 30-day average. The relative strength index was at 71.22.
Out of analysts tracking the company, four maintain a 'buy' rating, six recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 14.1%
US FDA completes inspection for Oral Solid Formulation Facility at Panelav
GMP inspection at Panelav facility concluded without any Form 483 observation
Source: Exchange filing
Total income up 20% at Rs 1,710 crore vs Rs 1,425 crore
Net profit down 86.5% at Rs 26 crore vs Rs 191 crore
Net profit down 13.8% at Rs 41 crore vs Rs 47 crore
Margin at 9.3% vs 10.3%
EBITDA down 10.2% at Rs 54 crore vs Rs 61 crore
Revenue flat at Rs 588 crore
Source: Exchange Filing
Ola Electric IPO to remain open from Aug.2-6, due to weekend.
The anchor book for the Ola Electric IPO will be open on Aug. 1.
Ola Electric to list on BSE, NSE on Aug. 9.
Sources To NDTV Profit
Net loss of Rs 88.6 crore vs loss of Rs 98.6 crore
Revenue up 11.5% at Rs 1,951 crore vs Rs 1,749 crore
EBITDA margin at 10.5% vs 7.5%
EBITDA up 55% at Rs 205 crore vs Rs 132 crore
Shares of Sanstar listed on the National Stock Exchange at Rs 106.40 apiece, a premium of 14.7% over its issue price of Rs 95. On the BSE, it debuted at a 12% premium over its issue price.
The initial public offering of Sanstar was subscribed 82.99 times on its third and final day, led by demand from non-institutional investors. The IPO consisted of a fresh issue of 4.18 crore shares and an offer for sale of 1.19 crore shares.
To buy 11 acres land in Goa for Rs 137 crore
Source: Exchange Filing
At pre-open, the Nifty was at 24,423.35, up 0.07% or 17.25 points and the Sensex was 80,163.31 up by 0.15% or 123.51 points.
Maintains 'Buy' with target increased to Rs 788 from Rs 775
Strong performance despite tough macro
Added Rs. 1,100 crores of new orders, including Rs.680 crores from existing EV CV customer
Board approved raising Rs 2,400 crores via equity/convertible instruments
Specifically for new inorganic opportunities and tech tie-ups
First such order win for sensor segment has vast potential
Sona consistently expanding order book and new product development
Will continue to drive higher than industry growth over the medium term
Near term likely impacted due to slowdown in its key customers
Lower revenue growth estimates to 21%/37% yoy for FY25/26F vs 25%/40% yoy
Roll forward valuation to 45x average FY26F-27F EPS
The yield on the 10-year bond opened flat at 6.95%.
It closed at 6.95% on Thursday.
Source: Cogencis
Draft changes to LCR norms to further fortify banks’ liquidity profile
Estimate LCR hit of 11-18 ppt for banks
LCR may fall below threshold for Federal
Expect these norms to drive CD ratio lower
To intensify retail deposit competition
To drive margins lower for the banks
Rupee weakened 3 paise to a record low of 83.73 against the US dollar.
The currency opened at 2 paise lower at 83.72.
It closed at 83.70 on Thursday.
Source: Bloomberg
Stable Deposit: Run of factor has been increased to 10% from the existing 5%
Less Stable Deposit: Run-off factor has been increased to 15% from the existing 10%
Run-off factor is unanticipated deposit withdrawal
Steps to strengthen liquidity framework of banks
Aim to enhance overall liquidity resilience of banks, better prepared to manage risk
Impact on banks LCR ratio is broadly 7-13%
Federal, IDFC First & AU SFB – have relatively lower LCRs vs other Pvt. Banks
BOB in PSBs has a lower LCR ratio
Launches two products for AI-driven software engineering & enterprise modernisation
Source: Exchange Filing
Maintains 'Buy' with target Rs 247
EBITDA margin largely in line with estimates
Management continues to see strong demand in all its business
Power Solutions, Aftermarket, Defense, and International Operations contributed strongly to the top line
Clear roadmap to participate in growing EV market with Switch Mobility
Strengthen position in LCV market with 2nd e-LCV launch by Switch
Strongly focussed on achieving mid-teens EBITDA in medium term
Estimate margins will gradually continue to move higher through the upcycle
Factor in 6%/7% yoy increase in volumes for FY25F/26F
Key catalysts will be
Improved CV growth
Double-digit EBITDA growth over FY25-26F
Upside from the EV business
Maintains ‘Reduce’ with a target price of Rs 1200 versus Rs 1000 earlier, downside 22%
First quarter after announcement of 3 yr strategy was decent
the road to its target is a long and winding one
Q1 results are a step in the right direction
But the road ahead shall be quite challenging
Growth shall be difficult with telecom still forming 33% of revenue
Margins likely to face headwinds before tailwinds
Continue to anticipate near-term pain before any long-term gain
Margins Headwinds: Building bench strength, investing in growth
Margin Tailwinds: employee pyramid, subcontracting costs
Could be effective 1st April 2025
Major change: Additional 5% run-off factor for retail deposits
Appears excessive measure
Large banks: assuming 80% retail deposits enabled with internet banking, LCR to decline by 10-15% for large banks
Same level of LCR could impact ROA of 0.05%
Retail banks (SOE) to have larger impact
Higher runoff for retail deposits could reduce LCR by 10-15 pp for the large banks
Banks with greater share of retail deposits will see a greater impact
Maintains reduce
Target raised to Rs 1,200 from Rs 1,000 earlier
Revenue slightly ahead of our/Street’s expectations of 0.5% CC QoQ
Broad-based growth except telecom; deal-wins stable
Margins taking small steps towards FY27 target
Small steps in right direction, but miles to go
Margins are likely to face headwinds
Continue to anticipate near-term pain before any long-term gain
Introducing FY27 estimates and rolling forward valuation to 18x Sep-26 PE (earlier 16x)
Target price reduced to Rs 1,840 from Rs 2,120 earlier
Reported a disappointing Q1FY25
Broad based decline; order inflow also weak
Digital, Engineering, and Technology revenue declined 5% QoQ/3.6% YoY in CC terms
Now requires 3%-plus Compounded Quarterly Growth Rate to achieve FY25 flat YoY revenue guidance
Cheap valuations limit potential downside
Cutting consolidated FY25E/26E EPS by -15%/-12%
Rolling forward to 20x Sep-26 PE (from 22x)
Target Price at Rs 784, implying 24% upside
Results were much better than our expectations
Marked improvement in NIM from 5.1% in 4QFY24 to 6% in 1QFY25
Improvement in disbursement yields by 250bps QoQ to 15.8%
7bps QoQ improvement in the cost of funds and
Merger synergies from Fincare SFB merger
Received the board’s approval for applying for the universal bank license
Universal Banking License to enhance brand image, lead to improved acceptability by customers
Valued AU SFB at 2.75x its June 2026E ABV
Target price raised to Rs 1,435 from Rs 1,485 earlier
Company entering a challenging phase
Sharp pick-up in credit costs led by unsecured retail, lower NPL recoveries
Soft loan and deposit growth trends; opex surprises positively
Cut FY25-26F EPS by 3-5%
Factor in a moderation in our loan growth outlook to 13%
Valuations are still attractive
Revenue up 0.3% at Rs 3,422 crore vs Rs 3,412 crore
EBIT up 1.1% at Rs 514 crore vs Rs 508 crore
EBIT margin at 15% vs 14.9%
Net profit up 2.9% at Rs 405 crore vs Rs 393 crore
Gets LoI from Gujarat Urja Vikas Nigam for 620 MW grid-connected solar & hybrid RE projects
Source: Exchange Filing
Gets US FDA approval for LEQSELVI tablets used to treat severe alopecia areata
Source: Exchange Filing
Texmaco Rail To Acquire Jindal Rail Infra For Rs 615 Crore To Boost Manufacturing Capacity
RBL Bank: Maple II B V sold 4.78 crore shares (7.89%) at Rs 228.08 apiece, Morgan Stanley Asia Singapore Pte bought 1.25 crore shares (2.06%) at Rs 228 apiece, Societe Generale bought 70.93 lakh shares (1.17%) at Rs 228 apiece.
Eraaya Lifespaces: Share India Securities bought 1.2 lakh shares (0.79%) at Rs 799 apiece, Sneha Garg sold 2.08 lakh shares (1.37%) at Rs 799.62 apiece, Vishal Jai Kumar Garg sold 1.12 lakh shares (0.74%) at Rs 799.57 apiece.
Shanti Education Initiatives: Legends Global Opportunities (Singapore) Pte. Ltd. bought 12.25 lakh shares (0.76%) at Rs 94.7 apiece, and Lgof Global Opportunities Ltd. sold 12.25 lakh shares (0.76%) at Rs 94.7 apiece.
SJVN Bags Rs 13,000 Crore Pumped Storage Project In Mizoram
Mankind Pharma To Acquire Bharat Serums And Vaccines For Rs 13,630 Crore
Q1 Results: Adani Energy Revenue Up 47%; United Breweries Net Profit Rises 27.5%
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