Thu, Oct 31, 2024 11:53 AM
DCM Shriram shares skyrocket 10% on as Q2 net profit almost doubles
A Flip by Avya Verma
India’s tax department could see a substantial boost in revenue- around Rs 20,000 cr- over the next year as several start-ups look to “reverse flip” their overseas corporate structures back to India. Over half-a-dozen major VC backed companies, including Flipkart and Pine Labs, are in process of shifting their international structures to India, enabling them to be eligible for domestic listings.
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Leading wind energy solutions provider Inox Wind flagged that the company may not be interested in acquiring Siemens's wind unit Gamesa, despite having evaluated it, whole-time director Devansh Jain said in a post-earnings call with analysts. When asked about the group's interest in the renewable energy firm, Jain emphasized that the group follows a conservative approach to capital allocation.
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Dr Reddy's Laboratories is slated to release its Q2 earnings report on November 5. While its sales in the US generics market is expected to remain stable, pressure on margins is likely to drag its net profit lower. According to a Moneycontrol poll of 11 brokerages, the profit is pegged at Rs 1,397 cr, reflecting a near 6% de-growth from Rs 1,480 cr that it reported in the same period last fiscal.
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