Fri, Nov 15, 2024 12:30 PM
FADA asks OEMs to reduce inventory further despite "strong" festive sales
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Global brokerage firm CLSA has raised India allocation to a 20% overweight while cutting exposure to China in a tactical reversal, citing India’s stable economic conditions and robust foreign flows waiting on the sidelines to re-enter. This shift comes amid concerns about China’s economic struggles, including deflationary pressures, sluggish real estate investment, and high youth unemployment.
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Glenmark Pharmaceuticals Ltd on Thursday reported a consolidated profit after tax of Rs 354.49 crore in the second quarter ended on September 30, 2024.The company reported a consolidated loss after tax of Rs 180.3 crore in the same quarter last fiscal, Glenmark Pharmaceuticals said in a regulatory filing. Consolidated total revenue from operations in the second quarter stood at Rs 3,433.8 crore.
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City gas distribution player Indraprastha Gas (IGL) has received another intimation from GAIL India - the nodal agency for domestic gas allocation - informing of further reduction in gas allocation, effective November 16.Confirming that the development will "adverse impact profitability", IGL said it is exploring all options to address the issue.
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