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The local currency closed at a record low of 83.665 against the US dollar.
It closed at 83.66 on Thursday.
Source: Bloomberg
NII up 12% on the year at Rs 2,254 crore vs Rs 2,009 crore
Net profit at Rs 551 crore vs Rs 223 crore YoY
Net NPA at 0.78% vs 0.89% QoQ
Gross NPA at 3.32% vs 3.46% QoQ
NII down19% at Rs 3,233 crore vs Rs 3,998 crore (YoY)
Net NPA 0.23% vs 0.34% (QoQ)
Gross NPA 3.87% vs 4.53% (QoQ)
Net profit up 40.4% at Rs 1,719 crore vs Rs 1,224 crore (YoY)
Revenue down 2.2% at Rs 946 crore vs Rs 967 crore
Ebitda fell 1.6% at Rs 139 crore vs Rs 141 crore
Net profit fell 0.3% at Rs 99 crore vs Rs 100 crore
Margin at 14.7% vs 14.6%
The market breadth was skewed in favour of the buyers as 2,217 stocks rose, 1,567 declined and 185 remained unchanged on the BSE.
Revenue up 11.3% to Rs 2,636 crore from Rs 2,366 crore
Ebitda up 20.4% at Rs 387 crore from Rs 322 crore
Margin up 111 bps at 14.7% from 13.6%
Net profit up 26.8% at Rs 273 crore from Rs 216 crore
Emerges as preferred bidder for Khattali Chotti graphite block in Madhya Pradesh
Source: Exchange Filing
Economic Survey 2024 Live Updates: Nirmala Sitharaman Tables Report In Lok Sabha
Shares of Anant Raj Ltd. jumped 12.49% to Rs 540.75, the highest level since July 9. It was trading 8.44% higher at Rs 521.10 as of 11:21 a.m., as compared to 0.03% advance in the NSE Nifty 50 index.
The scrip gained 174.50% in 12 months, and 76.4% on year to date basis. Total traded volume on NSE so far in the day stood at 3.13 times its 30-day average. The relative strength index was at 66.25.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside/downside of 19.0%
Net profit up 86% at Rs 65 crore vs Rs 35 crore
Revenue up 10.7% at Rs 912 crore vs Rs 823 crore
EBITDA up 74.3% at Rs 105 crore vsRs 60 crore
Margin at 11.5% vs 7.3%
Starts commercial production of carbonated soft drinks & packaged drinking water at Congo facility
Source: Exchange Filing
Expands pact to research hydrogen fuel system technology
Source: Exchange Filing
Bounty to recover funds stolen in cyber attack
WazirX invites whitehat hackers, blockchain experts and cybersecurity experts to join bounty programmme
This is the largest bounty announced for such a programme
A cyber attack on WazirX had resulted in loss of $230 million worth cryptocurrency
Source: Company statement
Appoints Arabian Construction Company as Principal Contractor
Source: Exchange Filing
The market breadth was skewed in the favour of sellers. Around 2,020 stocks fell, 1,009 rose and 169 were unchanged on the BSE.
The yield on the 10-year bond opened 3 bps higher at 6.99%.
It closed at 6.96% on Friday.
Source: Cogencis
At pre-open, the Nifty was at 24445.75, down 0.35% or 85.15 points and the Sensex was lower by 0.24% or 195.78 points at 80408.90.
Target price Rs 1,850
NIMs improve 3bp sequentially
Business growth muted; elevated C/D ratio to suppress loan growth
Estimate 16% CAGR in deposits and 10.1% CAGR in loans over FY24-26
Value at 2.3x FY26E PBV + INR 256 for subsidiaries
Management guided consolidated capex at Rs 16,400 crore
Firm to spend Rs 4,300 crore in refining & petchem, Rs 7,100 crore for marketing
Guides Rs 1.5-1.7 trillion capex over next 4-5 years
Planned 3–4 MMT expansion from existing refineries
Plans to add 300 CNG retail outlets in FY25
Guides Rs 1.5-1.7 trillion capex over next 4-5 years
Planned shutdowns for Bina & Kochi in FY25
No shutdowns are in the works for its Mumbai refinery
Russian crude sourcing at 39% in Q1FY25
Guided 52.5-53 MMT of marketing volumes for FY25
Q1 cracks at $8.6/$14.8 per barrel for gasoline/ HSD
Management expects product cracks to increase in coming quarters
The local currency opened flat at 83.66 against the US dollar.
It closed at 83.66 on Friday.
Source: Bloomberg
Raises Rs 343 crore via preferential allotment of shares & convertible warrants
Source: Exchange Filing
Got letter of award from Karnataka Renewable Energy Development
Source: Exchange Filing
Rates outperform with target of Rs 535 (upside 13%)
Sees above peer EBIT growth for cigarette segment
EBIT growth of 35-40% over next 10 years (vs 20% currently)
Pickup in cigarette segment will not impact diversification in non-cigarette segment
Tailwinds across FMCG and hotels to offset weakness in paper
Strong brand affinity and multiple margin levers to manage leaf tobacco inflation
11% EPS CAGR over FY25-27E driven by non-cigarette segment
Demerging segments gaining scale as seen in hotels
Valuation of 45 times for FMCG led business and 20 times for cigarette business
Arm JSW Neo Energy gets LoA for 500 MW ISTS-connected solar project with 500 MWh energy storage systems from Solar Energy Corp of India.
Source: Exchange Filing
Citi on Reliance Industries
RIL reported a weak 1Q, with misses in 3 of its 4 key business segments
Extent of O2C decline, continued retail weakness was particularly disappointing
Lowers FY25/26 EPS estimates by 6%/3%
O2C Ebitda fell 22% QoQ on sharp decline in refining cracks
Jio tariff hikes to benefit company from Q2
Retail segment saw another weak quarter, management attributed softness to weak discretionary demand
Oil & gas segment saw lower production
To watch out for: Upcoming AGM, investors keen to hear updates on Jio/ Retail listing, timelines on new energy project commencements
US Dollar Index at 104.27
US 10-year bond yield at 4.23%
Brent crude up 0.29% at $82.87 per barrel
Nymex crude up 0.45% at $80.49per barrel
GIFT Nifty was flat at 24,405 as of 7:12 a.m.
Bitcoin was up 0.24% at $67,903.31
Oberoi Realty Q1 Results: Profit Rises 82%, Beats Estimates
Reliance Jio Q1 Results: Profit, Revenue Rise 2%; ARPU Remains Flat
Sanstar Limited: The public issue was subscribed 4.16 times on day 1. The bids were led by institutional investors (0.05 times), non-institutional investors (9.85 times), retail investors (4.07 times).
Vedanta Raises Rs 8,500 Crore Via QIP
JSW Energy Q1 Results: Net Profit Rises 84% To Rs 534 Crore, Beats Estimates
RIL Q1 Results: Profit Drops 18%, Margin Contracts By 120 Basis Points
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