Mon, Feb 5, 2024 9:57 AM
Aurobindo Pharma shares fall 3% as USFDA issues 9 observation to subsidiry.
A Flip by Avya Verma
In a bid to ensure that the funds raised by mutual fund houses through new fund offers (NFOs) are invested faster, the Securities and Exchange Board of India (Sebi) on Wednesday proposed a timeline of 30 days from the time of allotment of units to investors. In addition, fund houses will have a window of another 30 days, if required.
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Laxmi Organic Industries' Q4 report beats estimates with 18% YoY and 7.4% QoQ revenue growth, driven by volume increases in essentials and specialty segments. The company expects fluorochemicals to contribute 15-20% of peak revenue in FY25, with capex planned for expansion and new manufacturing. The stock is valued at Rs240, upgraded to 'Reduce'.
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Pratik Gupta, CEO of Kotak Institutional Equities, expects foreign portfolio investment outflows from Indian markets to continue due to high valuations, slowing earnings, and rising US bond yields, with upcoming events like the US presidential election and potential Chinese economic stimulus adding to the uncertainty.
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