In cues from overseas, investors will eye earnings reports of Amazon, Apple, Samsung Electronics, China Vanke, PetroChina.
Metal, infra, oil & gas, banks and auto indices ended in the red, while PSU Bank, pharma, IT and realty gained.
With the push on growth, C-I has increased to 46.5% from 43.5% QoQ and 38.5% YoY which led to moderate PPOP growth.
The management indicated that the focus will be to keep the growth engine running even as costs run high in the near-term.
We remain positive on the stock given management strength and sustainability and a strong deposit franchise.
In a post earnings conference call, the company’s management said raw material cost on a per kilogram basis rose 7% sequentially in Q2FY22 due a sharp increase in crude-based input materials.
In a bid to protect margins, the company has taken price hikes of 2% during the first 20 days of October in the two-wheelers and farm equipment segments and will take further price hike at the end of October.
We are looking at a series of actions which we want to kind of really look at, namely we are looking at you know at some aggressive price increases in terms of what we want to kind of do, we are looking at areas in terms of formulation efficiencies, cost control and a very very clear regimented manner in terms of looking at seeing, so that we are able to kind of action this you know for the Q3 and Q4 as we kind of look forward,” the company’s management said in an investor presentation.
The IPO will consist of an offer for sale of 41.97 crore shares and fresh issue of shares amounting to ₹630 crores.
Naykaa is catering to the fast growing beauty and personal care market which is estimated to almost double to ₹2 lakh Cr.
PAT CAGR of 9.2/10.4/14.2% over FY21- FY23E on high base of FY21 which had ~4% revenue contribution from COVID-19 portfolio and higher cost savings.
Cipla Ltd pulled out a decent Q2 performance despite a decline in sales of covid-19 drugs.
On a per tonne basis, blended cost increased 9% sequentially and 7% year-on-year to ₹4,087 in Q3CY21.
Analysts also point out that since the company has only one-month of inventory days, so impact of spot cost of fuel is much more for Ambuja than peers.
The five-year onshore overnight indexed swap, a tool to trade rate expectations, has advanced 31 basis points in October to 5.64%.
It is imperative we keep above this level for a couple of days.
Equity benchmarks extended gains over a second consecutive session tracking firm global cues on Tuesday.
As a result, daily price action formed a bull candle carrying higher high-low, indicating resumption of upward momentum.
Going ahead, we expect index to form a higher base above the psychological mark of 18000 coincided with 20 days EMA that would pave the way to retest all-time high of 18600 in coming weeks.
In the current scenario as well index has been bouncing from 20 days EMA over past three sessions, highlighting elevated buying demand.
Resilient Innovations Pvt Ltd., the parent company which owns Delhi-based financial services platform, BharatPe, on Thursday filed six cancellation actions against multiple registrations held by PhonePe Pvt.
While filing its draft prospectus earlier in July this year, Paytm said it was targeting an issue size of ₹16,600 crore , which included the sale of new shares worth ₹8,300 crore.
Roughly half of the offer for sale by existing shareholders will be by Paytm’s biggest investor Ant Financial, which currently owns 29.6% of the company, they added.
If we can achieve that for a couple of sessions, the markets would resume its current uptrend and then march ahead to achieve higher targets.
In China, authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group’s deepening debt crisis.