Thu, Feb 8, 2024 3:08 PM
FM says retail inflation now stable, cost of essentials coming down
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Ipca Laboratories' Q2 EBITDA missed estimates, but management maintained revenue growth guidance and increased margin guidance for FY25. Revenue growth was broad-based, with domestic formulation business outperforming. The stock is trading at reasonable valuations, leading to an upgrade to ACCUMULATE with a revised target price of Rs1,700/share.
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The rupee recovered from its lowest level and appreciated by 8 paise to 84.38 against the US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds. Lower level of crude oil prices in the international market supported the recovery of local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.42.
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India Apple supplier Foxconn has ordered the hiring agents that help recruit iPhone assembly workers in India to remove age, gender and marital criteria as well as the manufacturer’s name in job advertisements, according to three people familiar with the matter and almost a dozen ads reviewed by Reuters.
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