Afcons Infrastructure's initial public offering (IPO) opens for subscription today, October 25, and will close on October 29. The Rs 5,430-crore IPO has a price band set between Rs 440 and Rs 463 per share, with allotment expected on October 30 and listing anticipated on November 4.
McDonald's is set to announce its Q3 earnings on October 29, with analysts anticipating earnings per share of $3.20 and revenues of $6.81 billion. Key focus areas include same-store sales growth, particularly in the US, and the impact of rising input costs on profit margins. The company's digital transformation and operational efficiency initiatives will also be scrutinized, as they play a crucial role in maintaining investor confidence amid economic challenges.
IG
05:30 25.10.2024
Switzerland faces a critical juncture regarding UBS, whose balance sheet is nearly double the nation's GDP, raising concerns about systemic risk. As regulatory pressures mount, questions arise about the country's willingness to maintain a major global bank or suggest UBS relocate abroad. The ongoing debate highlights the tension between safeguarding the financial sector and the realities of international competition.
05:30 25.10.2024
ITC's Q2 FY25 performance showed strong top-line growth, driven by improved realisations, despite facing margin pressures and a weakening FMCG consumption trend. The agri and hotel sectors excelled, while the resilient paperboard segment navigated tough conditions. The stock remains rated overweight due to strong fundamentals, even as it has underperformed peers over the past year.
Brokerages have expressed optimism for ITC stock following a strong Q2 earnings report that surpassed expectations despite a challenging market environment marked by subdued demand and high food inflation. The company reported a standalone net profit of Rs 5,078.3 crore, a 3.1% increase year-on-year, with total revenue reaching Rs 19,327.8 crore, up 16.8%. Nomura has issued a 'buy' recommendation with a target price of Rs 555 per share, noting solid sales performance and resilience in key segments like cigarettes and hotels.
Dixon Technologies has reported exceptional growth, doubling its revenue year-on-year for the second consecutive quarter, primarily driven by a significant increase in the Mobile & EMS segment. The company has also begun producing refrigerators, while the IT hardware sector is expected to contribute starting FY27. Despite a strong medium-term outlook, the stock is currently valued at 77 times FY26 earnings, indicating it may not be inexpensive.
Airlines are significantly reducing services to China due to low demand and high operational costs, with major carriers like British Airways and Qantas withdrawing entirely. In contrast, Chinese airlines are increasing their presence, operating 82% of flights between China and Europe this winter, despite the challenging market conditions. The situation is expected to worsen before it improves, as international interest in China remains low.
UBS plans to construct a 108-meter high-rise in Zurich Altstetten, replacing an existing office complex to accommodate 2,700 employees. While supporters highlight its alignment with sustainability goals, the Young Greens oppose it, citing environmental concerns and a lack of residential units, leading to a referendum on November 24.
05:15 25.10.2024
India's bond market faces its first monthly outflow since April, as foreign investors exit swap trades linked to the country's $1.3 trillion sovereign debt. This trend is influenced by rising US Treasury yields and the unwinding of total return swaps, which have gained popularity since India's inclusion in global bond indices. Rajeev De Mello from Gama Asset Management notes that this inclusion has strengthened the connection between global markets and India's financial landscape.
Pidilite Industries reported an 8% year-on-year volume growth in Q2, with consolidated revenue growth at 5%. The B2B segment saw a significant 21% increase in volumes, while rural demand outperformed urban. Falling VAM prices contributed to margin expansion, although stock valuations remain high at 66 times FY26 earnings.
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