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Cipla is set to announce its Q2 earnings on October 29, with expectations of a modest 5% growth in net profit to Rs 1,215 crore, attributed to a lack of major US drug launches and a high comparison base. Revenue is also projected to rise 5% to Rs 6,996 crore, while the EBITDA margin is anticipated to slightly improve to 26%. Analyst forecasts show a tight range, with predictions varying from an 18% increase to a nearly 2% decline in net profit.
SRF's chemicals division is grappling with challenges such as intensified Chinese competition, weak agrochemical demand, delays in new product launches, and declining prices in specialty chemicals and HFCs. Despite these issues, the company anticipates revenue growth in H2FY25, supported by a strong order book and improved margins due to technology advancements and increased volumes. ICICI Securities has downgraded SRF to a HOLD rating, reducing the target price to INR 2,250 from INR 2,480, reflecting a slower recovery in the chemicals sector.
TVS Motor Company reported a record margin of 11.7% in Q2FY25, driven by a growing EV revenue mix. The company anticipates a recovery in rural demand and a 7-8% industry growth in Q3. Despite a strong stock performance, the recommendation is downgraded to HOLD with a target price of INR 2,596.
India's steel ministry is considering implementing a temporary tariff or "safeguard duty" in response to a surge in cheap steel imports from China, which has raised concerns among various countries. This measure would also apply to nations with which India has free trade agreements, reflecting a growing trend of protective actions against Chinese steel exports.
Mukesh Ambani, Chairman of Reliance Industries, praised Meta founder Mark Zuckerberg for making the Llama language open source, stating, "Zuckerberg will go down in history for doing this." This remark was made during a discussion with Nvidia's Jensen Huang in Mumbai on October 24. The Llama language, released by Meta in February 2023, is a family of autoregressive large language models, and Reliance is collaborating with Nvidia to develop AI infrastructure in India.
ACC Ltd, part of the Adani Group, reported a 49% decline in net profit for Q2, falling to Rs 200 crore from Rs 387.88 crore in the same period last year. Despite this drop, total income rose to Rs 4,772.11 crore, driven by increased revenue from operations, which reached Rs 4,613.52 crore, a 4% increase year-on-year.
Piramal Enterprises reported a threefold increase in Q2 profit, reaching Rs 163 crore, while highlighting concerns over a precarious credit environment. The net interest margin improved to 5.1%, up from 4.7% in the same period last year, driven by a shift towards growth assets in its loan portfolio.
Bengaluru faces a crisis as heavy rains reveal significant infrastructural issues, prompting former Infosys CFO TV Mohandas Pai to criticize the Karnataka government for its inaction on vital concerns like roads and drainage. His tweets express widespread frustration among residents and MNCs reconsidering expansion plans in the city. Pai also highlighted the need for urgent action from Andhra Pradesh's leadership to restore trust after previous governance failures.
Gabriel India reported a robust Q2 consolidated EBITDA of Rs 987 million, exceeding estimates with a 34% year-on-year increase. The company's strategic entry into the high-growth sunroof product line and plans for future acquisitions are expected to drive significant growth. Anand Rathi maintains a Buy rating with a revised target price of Rs 700, reflecting anticipated revenue and profit growth through FY27.
Adani Green Energy is considering a private placement to finance part of its long-term debt after successfully raising $409 million through a dollar bond offering in March 2024, marking its return to the dollar bond market since the Hindenburg incident in January 2023. Despite significant interest from Asian and European investors, the company postponed its $1.2 billion bond offering, originally intended to refinance loans for solar and wind projects, awaiting the outcome of the November 5 US presidential election. A return to the bond market is anticipated in December.
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cipla's q2 earnings growth expected to remain modest amid high base effects
11:05 24.10.2024
SRF faces challenges but anticipates revenue growth in specialty chemicals
11:05 24.10.2024
TVS Motor Company maintains strong margins but downgraded to hold rating
11:00 24.10.2024
India considers steel tariffs despite improving relations with China
10:32 24.10.2024
Mukesh Ambani praises Mark Zuckerberg for making Llama language open source
Reliance Industries Limited
Meta Platforms, Inc.
NVIDIA Corporation
IND
Mark Zuckerberg
Mukesh Ambani
Jensen Huang
Show more
10:29 24.10.2024
ACC reports 49 percent decline in net profit for Q2 2024
10:19 24.10.2024
Piramal Enterprises reports tripled Q2 profit amid credit environment concerns
10:01 24.10.2024
Bengaluru faces crisis as Mohandas Pai criticizes government mismanagement
09:54 24.10.2024
Gabriel India targets growth with new product lines and acquisitions
09:54 24.10.2024
Adani Green plans private placement after successful dollar bond offering
09:51 24.10.2024
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