Cipla posted a 15.2% rise/decline in its net profit for the second quarter of the financial year, though shares were still in the red on Tuesday. What Happened: India’s third-largest pharmaceutical company said its net profit attributable to owners came in at ₹1,302.53 crore for the quarter ended September, compared with the ₹1,130.91 crore it earned in the same period last year.
Open FlipAfter a brief rally on Monday, auto stocks resumed their downward trend on Tuesday, October 29, with 14 out of 15 constituents of the Nifty Auto index trading in the red. These stocks declined between 1% to 6%, with the index plunging 2.70% to 23,300—a level last seen in early June. Tata Motors led the decline with a 6% drop, followed closely by Bajaj Auto, Hero MotoCorp, and more.
Open FlipBharat Seats' board will consider issuing bonus shares in its November 5 meeting, with shareholders who purchase before the ex-date eligible to receive the shares; the company will also approve its Q2 results in the same meeting. Bharat Seats had last issued bonus shares in 2007 and its stock has risen 42% in the last year.
Open FlipAmi Organics' shares surged up to 14% after reporting a profit in Q2 FY25, with revenue growth of 43.2% year-on-year to ₹246.7 crore and net profit of ₹37 crore, driven by strong performance in pharmaceutical intermediates and specialty chemicals. The company raised its revenue growth guidance to 30% for FY25, sending its stock to a record high.
Open FlipAs Dhanteras approaches, gold buyers are reflecting on a prosperous year, with those who purchased gold on last year’s Dhanteras, November 10, 2023, enjoying returns of around 30%. Despite this substantial rise, experts predict further upside potential, with gold prices expected to reach Rs 87,000 per 10 grams by next Dhanteras, reflecting an additional gain of 10-11% from current levels.
Open FlipJio Financial Services in a release on October 29 said that it has received approval from RBI for its arm to operate as an "online payment aggregator.The authorisation has been given to Jio Financial’s wholly-owned subsidiary Jio Payment Solutions Limited (JPSL), it added. At 12.41 pm, Jio Financial Services shares were trading at ₹323.25 apiece, or 6.50 per cent up since opening on the BSE.
Open FlipApple Inc. has witnessed a substantial increase in iPhone exports from India, indicating a strategic shift from China. What Happened: Apple’s iPhone exports from India saw a 33% rise in the six months leading up to September, reported Bloomberg. The US tech behemoth exported nearly $6 billion (around ₹50,448 crore) worth of iPhones manufactured in India.
Open FlipShares of Ola Electric Mobility Ltd. are down another 2.6% in Tuesday's trading session and have now slipped below their IPO price of ₹76. The stock has declined in three out of the last four trading sessions and in eight out of the last 11 trading sessions. Ola Electric Mobility shares had made their stock market debut on August 9, post which, they had made a high of ₹157.4, before correcting.
Open FlipGodavari Biorefineries IPO: The initial public offering (IPO) of Godavari Biorefineries, the ethanol-based chemicals manufacturer, received decent demand from investors amid volatility in the secondary market. Godavari Biorefineries IPO allotment has been fixed and the shares are likely to make their stock market debut on October 30.
Open FlipAdani Ports and Special Economic Zones Ltd. (APSEZ) on Tuesday, October 29, reported a 40% year-on-year (YoY) rise in net profit at ₹2,445 crore in the second quarter of the financial year 2025. The company posted a net profit of ₹1,748 crore in the corresponding quarter of last year. Revenue for the quarter rose 6.3% year-on-year to ₹7,067 crore.
Open FlipCanara Bank reported a net profit of ₹4,014 crore in second quarter of FY25, marking an 11.3% year-on-year increase from ₹3,605 crore. The improvement is largely supported by enhanced asset quality. The Gross Non-Performing Assets (GNPA) ratio declined to 3.73% from 4.76% last year. Net NPA also reduced to 0.99%, a 42 basis point drop, the bank said in a regulatory filing.
Open FlipChinese property developer Sino-Ocean Group said on Tuesday it would issue new zero-coupon, two-year mandatory convertible bonds and new interest-bearing, perpetual securities to creditors for a total value of $4.02 billion. The state-backed company received a winding-up petition late June, filed by The Bank of New York Mellon in a Hong Kong court.
Open FlipReported Standalone quarterly numbers for Shree Renuka Sugars are: Net Sales at Rs 2,439.70 crore in September 2024 down 1.88% from Rs. 2,486.40 crore in September 2023. Quarterly Net Profit at Rs. 20.30 crore in September 2024 up 111.65% from Rs. 174.20 crore in September 2023. EBITDA stands at Rs. 256.80 crore in September 2024 up 211.27% from Rs. 82.50 crore in September 2023.
Open FlipReported Standalone quarterly numbers for Ideaforge Technology are: Net Sales at Rs 37.20 crore in September 2024 up 56.78% from Rs. 23.73 crore in September 2023. Quarterly Net Loss at Rs. 12.20 crore in September 2024 down 1467.71% from Rs. 0.89 crore in September 2023. EBITDA stands negative at Rs. 8.33 crore in September 2024 down 218.16% from Rs. 7.05 crore in September 2023.
Open FlipReported Standalone quarterly numbers for Restaurant Brands Asia are: Net Sales at Rs 492.12 crore in September 2024 up 8.52% from Rs. 453.47 crore in September 2023. Quarterly Net Loss at Rs. 16.58 crore in September 2024 down 77.51% from Rs. 9.34 crore in September 2023. EBITDA stands at Rs. 77.06 crore in September 2024 up 14.33% from Rs. 67.40 crore in September 2023.
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