The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
SONA BLW Precision Forging reported a strong 2QFY25 performance with revenues of INR 9.3 billion, surpassing estimates, driven by order execution and growth in the BEV sector. The company plans to acquire Escorts Kubota’s railway equipment division for INR 16 billion, expected to be EPS-accretive from the first year. Despite a 20% YoY PAT growth, valuations at ~60x/48x FY25E/FY26E EPS suggest limited upside, leading to a Neutral rating with a target price of INR 685.
Shares of Escorts Kubota fell over 6% after the company announced the sale of its railway equipment business to Sona BLW Precision Forgings for Rs 1,600 crore. This move aligns with the firm's strategic focus on the agri- and construction equipment sectors, aiming to simplify operations and enhance efficiency. As of 12:10 PM, shares were trading at Rs 3,459.65, down 6.5% on the NSE.
Hindustan Unilever reported a 3.9% year-on-year decline in Q2 profit to ₹2,612 crore, attributed to weak operating margins and a volume growth of 3%. In contrast, Sona BLW Precision Forgings saw a 15.7% increase in profit to ₹144 crore, despite weakened operating margins. Thyrocare Technologies experienced a significant 29% profit surge to ₹26.4 crore, with an EBITDA margin expansion of 200 basis points.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
