Wed, Nov 6, 2024 3:01 PM
Singapore government cements its position as largest FPI in India
A Flip by Shubhangi Gupta
The International Finance Corporation (IFC) has committed $400 million to support Bajaj Finance Ltd's expansion of access to finance for electric vehicles and energy-efficient consumer goods, as well as women-owned microenterprises, as part of a $1 billion fundraising exercise. This aims to increase competitiveness in the climate finance market and promote financial inclusion.
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Dr Reddy's Labs and Mankind Pharma reported strong Q2 performance with double-digit revenue growth and improved business prospects, despite challenges in acute therapies in India. DRL crossed ₹8,000 crore in revenues, while Mankind outperformed with 3.4 times volume growth in India and 57% export growth.
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IRCTC's performance was in-line with estimates, but catering division struggled due to kitchen closures and train cancellations. Sales and PAT are expected to grow 8.4% and 7.5% CAGR over FY25E-FY27E, driven by catering and Rail Neer divisions. With a target price of Rs833, the stock is upgraded to "HOLD" from "REDUCE" due to a 19% correction in stock price.
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