{
}
Indices closed mostly flat, with the Sensex down 16 points at 80,065 and the Nifty down 36 points at 24,399, as declines in FMCG and IT stocks offset gains in financials and construction. Market sentiment faced headwinds from disappointing Q2 earnings, FII selling, and geopolitical tensions. Analysts anticipate improvement in Q3 FY25, driven by increased government spending, which has only reached 27% of its budget so far this fiscal year.
Adani Wilmar reported a consolidated profit of Rs 311.02 crore for the September 2024 quarter, rebounding from a loss of Rs 130.73 crore in the same period last year. Revenue from operations rose 18% to Rs 14,460.45 crore, while total income increased to Rs 14,565.30 crore. The company's EBITDA surged to Rs 566 crore, with a margin improvement to 3.9%.
ICICI Securities has maintained a SELL rating on Godrej Properties, setting a revised target price of INR 2,113, up from INR 1,861, due to high valuations. The company reported strong Q2FY25 sales bookings of 5.2msf worth INR 52bn, driven by significant launches, and is on track to meet its FY25 sales guidance of INR 270bn. Despite robust performance, the valuation at 6.5x FY26E P/B remains a concern.
Vijay Bharadia, founder and CIO of Wallfort PMS, manages Rs 375 crore and has achieved 112% returns in his oldest strategy over the past year. He is focusing on the data center sector, anticipating a surge in demand for cooling solutions, and is also investing in the untapped caravan market in India through the unlisted company Motohom.
Money laundering poses a significant threat to the online gaming and digital economy, as highlighted in a report by the Digital India Foundation. Key recommendations include forming a dedicated task force, creating a whitelist of legal operators, and enhancing public awareness to combat deceptive practices.The Indian Real Money Gaming sector is rapidly growing, projected to reach USD 7.5 billion in revenue within five years, driven by a community of 100 million gamers. However, challenges such as financial integrity, cybersecurity, and a lack of regulation threaten this progress, with the illegal betting market attracting over USD 100 billion annually.
Amber Enterprises India is experiencing significant growth in its consumer durables and electronics segments, with expectations for continued strong performance in H2FY25. Despite a contraction in gross margins due to a changing revenue mix, operational efficiencies have led to an expansion in EBITDA margins year-on-year. However, the railway mobility business faces challenges, and the company’s return ratios are below the cost of capital, prompting a REDUCE rating with a revised target price of INR 5,625.
SMEs in the BFSI sector are increasingly adopting big data analytics, with 37% as early adopters, driven by regulatory compliance and the need for secure data management. Cloud technologies enhance risk management and operational agility, with 42% prioritizing cloud investments for cost efficiency. In healthcare, challenges like data silos and network connectivity hinder AI and big data adoption, affecting 45% of SMEs. Solutions include integrated data management and cloud-based systems, while a skills gap in cloud professionals can be addressed through training and partnerships.
The Unified Payments Interface (UPI) has revolutionized India's digital payment landscape, increasing digital transactions ninefold since its launch in 2016. Its share in digital transactions surged from 4.4% in FY18 to 70% in FY24, positioning India ahead of its BRICS counterparts in transaction volumes. Prime Minister Modi's advocacy for UPI among BRICS nations highlights its potential to facilitate a cashless economy, with India recently partnering with the UAE for UPI transactions.
Dr Lal PathLabs reported a 9.8% YoY revenue growth in Q2FY25, falling short of expectations, but surprised with an EBITDA margin of 30.7%. The growth was driven by the Swasthfit bundled test package, which increased by 25% YoY. Management plans to focus on volume growth without immediate price hikes, while a cash balance of INR 10bn may be used for M&A to enhance its presence in southern India and other rapidly growing cities. The target price is revised to INR 3,100.
AU Small Finance Bank reported a mixed Q2FY25 performance, maintaining a profitability with a RoA of 1.6% and a 6% QoQ loan growth. However, credit costs rose to 1.6%, exceeding guidance due to increased stress in secured retail assets and higher slippages in MFI and credit card segments. The bank has revised its FY25 credit cost guidance to 1.3% and is implementing measures to mitigate slippages, while maintaining a HOLD rating with a target price of INR 630.
IND
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
indices close flat as fmcg and it stocks weigh on market
11:24 24.10.2024
Adani Wilmar reports Rs 311 crore profit in Q2 as shares rise
11:23 24.10.2024
icici securities maintains sell rating on godrej properties with revised target price
11:23 24.10.2024
pms fund manager explores data centers and untapped caravan market in india
Anant Raj Limited
Techno Electric & Engineering Company Limited
Blue Star Limited
IND
Vijay Bharadia
Motohom
Blue Star
Techno Electric & Engineering
Anant Raj
Show more
11:20 24.10.2024
money laundering poses significant risks to online gaming and digital economy
11:18 24.10.2024
amber enterprises india targets growth amid mixed financial performance
11:17 24.10.2024
empowering smes through cloud technology and ai driven solutions
11:14 24.10.2024
India's UPI Revolutionizes Digital Payments and Leads BRICS Nations
United States Dollar
Brazilian Real
Indian Rupee
Chinese Yuan
China 33 Media Group Ltd.
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
جمعية المدققين الداخليين في دولة الإمارات العربية المتحدة Government Entity
BRICS
BRA
ARE
IND
CHN
Narendra Modi
Show more
11:10 24.10.2024
Dr Lal Pathlabs reports modest growth and maintains hold rating with revised target
11:09 24.10.2024
AU Small Finance Bank maintains profitability amid rising credit costs
11:07 24.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
CEO Changes
Retail and Consumer Goods
Banking Regulations
Market Analysis and Predictions
Industry Mergers & Acquisitions
Global Trade Developments
Energy Sector Developments
Startups & Entrepreneurship
Government Policies
Supply Chain Management
Domestic Politics
Financial Scams and Security
Government Economic Policies
Central Bank Actions
Hedge Funds & Private Equity
Countries:
Companies:
Tesla, Inc.
Barclays PLC
JPMorgan Chase & Co.
Apple Inc.
BNP Paribas SA
UBS Group AG
NVIDIA Corporation
Morgan Stanley
Bank of America Corporation
Capital One Financial Corporation
The Goldman Sachs Group, Inc.
Deutsche Bank RV Global PP
Amazon.com, Inc.
Citigroup Inc.
Commerzbank AG
SpaceXCoin USD
Credit Suisse Real Estate Fund Siat
Wells Fargo & Company
UniCredit S.p.A.
Microsoft Corporation
Currencies:
United States Dollar
Euro
Chinese Yuan
Indian Rupee
Swiss Franc
British Pound Sterling
Vietnamese Đồng
Hong Kong Dollar
Australian Dollar
United Arab Emirates Dirham
Singapore Dollar
South Korean Won
Thai Baht
Norwegian Krone
Danish Krone
Swedish Krona
Russian Ruble
Ghanaian Cedi
Canadian Dollar
Turkish Lira
People: