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The Finance Ministry has doubled the loan limit under the Pradhan Mantri Mudra Yojana to Rs 20 lakh, effective immediately. This initiative, announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25, aims to support emerging entrepreneurs with enhanced funding options. A new loan category, Tarun Plus, is introduced for borrowers who have successfully repaid previous loans under the 'Tarun' category, with all loans up to Rs 20 lakh backed by the Credit Guarantee Fund for Micro Units.
DCB Bank's shares surged 10% to Rs 121 on October 25 following a robust Q2FY25 report, which showed a 22.6% year-on-year increase in net profit to Rs 155.5 crore. Net interest income rose 7% to Rs 509.2 crore, while asset quality improved with net non-performing assets at 1.17% and gross non-performing assets at 3.29%. CEO Praveen Kutty highlighted strong growth in deposits and advances, driven by enhanced analytics and customer engagement.
Schaeffler India reported an APAT of Rs 247 crore, slightly below estimates, with EBITDA margins contracting to 18.1%. Despite weak exports to Europe, other markets are performing well. Sharekhan maintains a Buy rating with a revised target price of Rs 4170, citing strong domestic demand and growth in the EV sector.
Bikaji Foods International, the third largest ethnic snacks manufacturer in India, saw its stock surge 10% following strong Q2 earnings. The company is also recognized as the second fastest-growing entity in the Indian organized snacks market, bolstering its international presence in Indian snacks and sweets.
Colgate-Palmolive (India) reported mixed Q2FY2025 results, with a 10% year-on-year revenue growth but a decline in operating profit margin (OPM) by 206 bps due to increased advertising expenses. The toothpaste segment saw high single-digit volume growth, while toothbrush sales grew in double digits. The stock is currently valued at a premium, prompting a Hold recommendation with a target price of Rs. 3,555.
Nuvoco Vistas Corporation reported a net loss for Q2, attributed to low cement demand, leading to a 5% drop in its shares. The company, ranked fifth in India, sold 4.2 million tonnes of cement during the quarter, a decrease from 4.5 million tonnes in the same period last year. As of 11:40 am, shares were trading at Rs 330.5, down 3.4%.
Afcons Infrastructure Ltd., part of the Shapoorji Pallonji Group, has a diverse portfolio in infrastructure and construction, with 30% of its revenue from international projects. With a robust order book of ₹31,747cr and a healthy financial performance, the company is well-positioned for growth in the rapidly expanding Indian construction market. AIL is rated as a "Subscribe" for medium- to long-term investment due to its strong execution capabilities and geographical diversification.
360 One WAM Ltd is set to raise up to Rs 2,250 crore through a Qualified Institutional Placement (QIP), as reported by CNBC-Awaaz. The board approved the QIP at a floor price of Rs 1,065.36 per share, with an indicative issue price of Rs 1,013 per equity share. Following the announcement, shares fell by 4%.
Colgate-Palmolive India reported a net profit of Rs 395.05 crore for Q2, marking a 16.2% year-on-year increase, driven by broad-based portfolio growth. However, sales rose 10.04% to Rs 1,609.21 crore, while EBITDA growth was only 3%, attributed to a 205 basis points decline in margins amid a challenging demand environment and high promotional intensity.
Afcons Infrastructure Ltd's IPO opened for public subscription on October 25, raising Rs 1,621 crore from anchor investors. The Rs 5,430-crore share sale, priced between Rs 440-463, will close on October 29. Currently, the grey market premium suggests minor listing gains of about 13%, a slight decrease from earlier estimates of over 15%.
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Finance Ministry increases Pradhan Mantri Mudra Yojana loan limit to 20 lakh
10:15 25.10.2024
DCB Bank shares surge 10 percent after strong Q2FY25 profit results
09:51 25.10.2024
Schaeffler India receives buy rating with target price of Rs 4170
09:28 25.10.2024
Bikaji Foods shares surge 10 percent following strong second quarter earnings
08:53 25.10.2024
Colgate Palmolive India reports mixed Q2 results with rising ad expenses
08:43 25.10.2024
Nuvoco Vistas reports Q2 net loss amid declining cement demand
08:28 25.10.2024
afcons infrastructure ipo subscription recommended for medium to long term investment
08:22 25.10.2024
360 One WAM plans to raise 2250 crore through QIP as shares decline
08:13 25.10.2024
colgate palmolive shares drop as margin decline overshadows profit growth
07:37 25.10.2024
Afcons Infra IPO shows minor gains amid volatile market conditions
07:20 25.10.2024
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