Fri, Nov 15, 2024 3:35 PM
Centre to launch PLI scheme for power transmission sector by end of FY25
A Flip by Shubhangi Gupta
Indian shares inched lower on Thursday, logging their sixth weekly loss in seven, as worries about a slowdown in consumption added to concerns over earnings moderation and foreign outflows. The NSE Nifty 50 fell 0.11% to 23,532.7, closing below its 200-day moving average for the first time since April 2023. The BSE Sensex shed 0.14% to end at 77,580.31.
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Sun TV Network reported a 2QFY25 with revenue/EBITDA declining 12%/26% YoY, offset by a 2% YoY recovery in ad revenue. The impending Star-Viacom merger poses a potential threat, increasing competition and potentially impacting IPL media rights. The company trades at 15x one-year forward P/E, with a target price of INR670 and a Neutral rating.
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China's new home prices fell for the 16th consecutive month but at a slower pace in October, official data showed on Friday, suggesting overall sentiment remains weak despite a barrage of support measures to stabilise the crisis-hit property sector. New home prices were down 0.5% month-on-month after a 0.7% dip in September, the slowest pace in seven months.
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