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Geojit Financial Services Recommends Buy on Nykaa with Target Price of Rs 198

Geojit Financial Services has reiterated a BUY rating for FSN E-Commerce Ventures (Nykaa), setting a target price of Rs. 198. In Q2FY25, Nykaa reported a 24.4% YoY revenue growth to Rs. 1,875cr, driven by strong performance in the Beauty and Personal Care segment, which grew 33.2% YoY. Despite a decline in fashion segment orders, overall EBITDA improved by 28.6% YoY, with profit after tax rising 44.7% YoY to Rs. 13cr.
Moneycontrol
Indian Rupee FSN E-Commerce Ventures Pvt Ltd (Nykaa) IND Show more
Finance & Economy, Market Report
07:11 05.12.2024

German Farmers Associations Criticize National Implementation of Article 148 CMO

The German Farmers' Association (DBV) and the German Raiffeisen Association (DRV) have criticized the Federal Ministry of Agriculture's initiative to implement Article 148 of the Common Market Organization, arguing it would harm milk producers and weaken the milk value chain. In contrast, the German Dairy Farmers' Association (BDM) supports the initiative as a necessary step towards a more market-oriented dairy sector. The ministry's draft regulation aims to establish binding supply contracts while respecting cooperative autonomy.
raiffeisen.com
Euro DEU Karsten Hansen Cem Özdemir Holger Hennies Karsten Schmalz Show more
TradFi, News Article
07:09 05.12.2024

YSRCP MPs Face Allegations of Fraud in Kakinada Port Stake Acquisition

Andhra Pradesh police have filed a case against YSRCP MP V Vijaysai Reddy and Y Vikranth Reddy for allegedly using coercive methods to fraudulently acquire stakes in Kakinada Seaports Ltd and Kakinada SEZ Ltd. The accusations include cheating, criminal intimidation, and conspiracy, with the stakes reportedly sold at a low price to Aurobindo Realty, now Auro Infra. Senior YSRCP leader Kakani Govardhan Reddy has dismissed the allegations as "political vendetta."
Moneycontrol
Aurobindo Pharma Limited IND V. Vijaysai Reddy Sarath Chandra Reddy Kakani Govardhan Reddy Y. V. Subba Reddy Vikranth Reddy Show more
Regulatory & Legal, News Article
07:08 05.12.2024

Britain Set to Reach Peak Petrol as Electric Vehicles Surge

Britain is set to reach "peak petrol" in 2024, with gasoline-powered cars expected to decline from 18.7 million to 11.1 million by 2034, while electric vehicles (EVs) will rise from 1.25 million to 13.7 million. The EV market share is projected to increase from 18% this year to 23% in 2025, amid pressures from the government's Zero Emissions Vehicle mandate. Despite challenges, including high EV costs and industry concerns over job impacts, the government plans to support the transition with significant investments.
CNBC
British Pound Sterling Stellantis N.V. GBR Ian Plummer
Technology & Innovation, News Article
07:06 05.12.2024

Market Correction Reduces High PE Stocks Amid Promising Outlook for Automobiles

Harsha Upadhyaya, Chief Investment Officer at Kotak AMC, noted that while many stocks are trading at high PE multiples, recent market corrections have alleviated some excess. He highlighted a promising outlook for the automobile sector and emphasized that their latest NFO targets transportation and logistics, where valuations are more favorable compared to long-term averages.
Moneycontrol
Kotak Mahindra Bank FUT, Decemb IND Harsha Upadhyaya
Finance & Economy, Market Report
07:03 05.12.2024

India's Growth Story Remains Strong Despite Q2 GDP Decline, Says CEA

Chief Economic Advisor V Anantha Nageswaran emphasized that India's growth story remains robust despite a notable decline in GDP growth to 5.4% in the second quarter. He cautioned against overinterpreting this drop, attributing it to global uncertainties while highlighting sustained private consumption and improved exports.
Moneycontrol
United States Dollar Assocham IND V. Anantha Nageswaran
Finance & Economy, News Article
07:01 05.12.2024

RBI Expected to Maintain Interest Rates Amid Economic Growth Concerns

India's central bank is expected to maintain the benchmark repurchase rate at 6.5% amid concerns over a surprising economic growth slump to 5.4%. While Governor Shaktikanta Das has ruled out immediate rate cuts, pressure mounts from government officials and economists for measures to lower borrowing costs and stimulate growth. With his term ending soon, Das faces challenges in balancing inflation control and economic activity.
Moneycontrol
Indian Rupee Reserve Bank of India IND Nirmala Sitharaman Shaktikanta Das Piyush Goyal Show more
Finance & Economy, Market Report
07:00 05.12.2024

Zomato and Swiggy Shares Surge to Record Highs Following Brokerage Upgrades

Shares of Zomato and Swiggy surged to record highs on December 5, following brokerage upgrades. CLSA raised Zomato's target price to Rs 370, predicting a 32% upside, while Bernstein noted Zomato's broader city presence. Swiggy's Q2 results showed a 30% year-on-year increase in B2C gross order value, with expectations of positive core earnings by December 2025.
Moneycontrol
Indian Rupee Zomato Limited SWIGGY LIMITED IND Leonard Bernstein
Finance & Economy, Market Report
07:00 05.12.2024

EU Soybean Harvest Declines Despite Increased Cultivation Area Due to Drought

Despite a 10% increase in cultivation area, the EU's soybean harvest fell to just under 2.8 million tons, about 10,000 tons less than last year, primarily due to unfavorable growing conditions, particularly in Romania and Hungary. Italy remains the top producer, yielding 1 million tons, while Ukraine's record harvest of over 6 million tons helped offset EU losses. The EU's self-sufficiency in soy stands at only 8%, with certified Ukrainian soy filling the gap.
raiffeisen.com
United States Dollar Euro ROU HUN UKR ITA Susanne Fromwald Show more
Finance & Economy, Market Report
06:59 05.12.2024

Rupee Expected to Fall to 85 Amid Strong Dollar and Slowing Economy

The Indian rupee is projected to depreciate further, potentially reaching 85 against the US dollar due to a robust dollar and sluggish economic growth in India. Currency experts indicate that the USDINR pair may rise as the Dollar Index has surged approximately 3% recently, currently trading at 106.26.
Moneycontrol
United States Dollar Indian Rupee Hdfc Securities Ltd. IND Dilip Parmar
Finance & Economy, Market Report
06:58 05.12.2024
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