Vinati Organics' revenue and PAT exceeded estimates, with a 19.5% YoY revenue growth and 44.1% YoY PAT growth, driven by higher other income and lower tax rates. The company's EBITDA margin expanded by 154bps YoY to 24.2%. The rating is upgraded to "ACCUMULATE" from "HOLD" with a target price of INR 2,002, citing demand recovery and planned capex.
Open FlipSony is in talks to acquire Kadokawa, the Japanese media powerhouse behind the ”Elden Ring” game, two sources familiar with the matter said, as the technology giant looks to add to its entertainment portfolio. The talks between the two sides are ongoing and, if successful, a deal could be signed in the coming weeks, the sources said. Sony declined to comment. Kadokawa said it cannot comment.
Open FlipOn Tuesday, shares of Eraaya Lifespaces Limited hit a 5 per cent upper circuit to Rs 1,951.65 per share from its previous closing of Rs 1,858.75. The stock’s 52-week high is Rs 3,169 per share and its 52-week low is Rs 66.90 per share. The stock gave multibagger returns of 2,817 per cent in just 1 year and a whopping 26,275 per cent in 3 years.
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