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UBS has downgraded Larsen & Toubro, while analysts express mixed views on ITC. Nomura maintains a buy rating with a target of ₹555, citing strong cigarette sales but margin pressures. Morgan Stanley also rates ITC as overweight, targeting ₹554, highlighting robust hotel performance and agricultural recovery, despite challenges in home consumption and the paper segment.
UBS has downgraded Larsen & Toubro, while analysts express mixed views on ITC. Nomura maintains a buy rating with a target of ₹555, citing strong cigarette sales but margin pressures. Morgan Stanley also rates ITC overweight at ₹554, highlighting robust hotel performance and agricultural recovery, despite challenges in home consumption and the paper segment.
Insolation Energy is in the spotlight following its subsidiary, Insolation Green Energy, securing a Rs 208.31 crore order for the supply of 550 Wp Solar PV Modules for NTPC Khavada in Gujarat, to be executed in FY 2024-25. Additionally, the company’s board approved the issuance of up to 12,23,500 equity shares at Rs 3287 each, aiming for a total consideration of up to Rs 402.16 crore on a preferential basis to non-promoter entities.
Kansai Nerolac is set to attract attention on October 25 following its agreement to sell a land parcel in Lower Parel to Runwal Developers for Rs 726 crore. The company's board has also scheduled a meeting on November 6, 2024, to review its unaudited financial results for the quarter and six months ending September 30, 2024.
Indian benchmark indices, Sensex and Nifty 50, are expected to open flat on October 25, following GIFT Nifty's performance around 24,460.5. On October 24, both indices ended muted, with Sensex down 16.82 points at 80,065.16 and Nifty down 36.10 points at 24,399.40, as FMCG and IT stocks weighed down Nifty, while financials provided some support.
GMR Airports Infrastructure Ltd reported a nearly 20% increase in consolidated revenue for Q2, reaching Rs 2,589.1 crore, up from Rs 2,162.4 crore year-on-year. EBITDA rose 13% to Rs 962 crore, while net losses narrowed to Rs 256.5 crore from Rs 274.4 crore, attributed to a 53% rise in finance costs and a 27.5% increase in depreciation and amortization expenses.
Foxconn has invested approximately Rs 267 crore ($31.8 million) in equipment for its Tamil Nadu factory to begin manufacturing the iPhone 16 Pro series, marking the first production of Apple's high-end models outside of China. The procurement aims to enhance production capacity at the facility, as confirmed in a regulatory filing.
Hyundai's Indian subsidiary debuted on the stock market with a 7% drop, now 5% below its IPO price, despite raising $3.3 billion by offloading a 17.5% stake. Analysts cite concerns over the capital's use, higher royalty fees, and minimal upside pricing, while some see long-term growth potential in India's evolving automotive market.
JSW Energy reported a slight increase in consolidated net profit to Rs 853 crore for Q2 FY25, up from Rs 850 crore in the same quarter last year. Total revenue rose by 2% year-on-year to Rs 3,459 crore, while the company's net debt stood at Rs 24,875 crore, resulting in a net debt-to-equity ratio of 0.9X as of September 30, 2024.
NTPC Ltd reported a consolidated net profit of Rs 4,649 crore for Q2 2024-25, marking a 20% increase from Rs 3,884 crore in the same quarter last year. Revenue from operations slightly declined to Rs 40,327 crore from Rs 40,875 crore year-on-year. The company's shares closed at Rs 411.60 on October 24, up 0.81% from the previous day.
Indian Rupee
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs downgrades l and t mixed analyst views on itc performance
04:12 25.10.2024
ubs downgrades l and t mixed analyst views on itc performance
04:12 25.10.2024
Insolation Energy secures 208 crore order for solar PV modules
04:12 25.10.2024
Kansai Nerolac to sell land in Lower Parel for Rs 726 crore
Indian Rupee
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04:11 25.10.2024
Indian markets expected to open flat amid mixed global cues
03:47 25.10.2024
gmr airports reports 20 percent revenue growth despite narrowing net losses
18:56 24.10.2024
Foxconn invests 267 crore to manufacture iPhone 16 Pro in India
18:56 24.10.2024
hyundai ipo faces challenges as shares drop on debut in india
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18:30 24.10.2024
jsw energy reports slight profit increase in second quarter earnings
18:02 24.10.2024
ntpc reports 20 percent rise in q2 net profit to rs 4649 crore
17:32 24.10.2024
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