Oil prices inched up in early Tuesday trade as investors waited to see whether a Middle East trip by top U.S. diplomat Antony Blinken will bring a halt to the Gaza war, which has raised concerns about supplies from the major producing region. Brent crude futures rose 20 cents to $78.19 a barrel at 0452 GMT, while U.S. West Texas Intermediate crude futures climbed 20 cents to $72.98.
Open FlipThe Centre's schemes for the power sector, including renewables, have received an allocation of at least Rs 28,352 crore in the Interim Budget 2024, up 50 percent from the revised estimate (RE) of Rs 18,945 crore in 2023-24, an analysis by Moneycontrol showed. While the National Green Hydrogen Mission (NGHM), Bio Energy initiative and hydroelectric projects were the top three gainers..
Open FlipBLS E-Services, a digital service provider for banks and e-governance services, saw its stock listed at 128.9% premium over IPO price on Feb 6. This met analyst expectations of 125-130% gains, with Prashanth Tapse citing reasonable valuations, government initiatives, and a scalable business model as justifications. The issue was subscribed 162.47 times, with plans to use proceeds for technology.
Open FlipAlembic Pharma is expected to launch 4-5 new products by the end of FY24 and 10-15 in FY25, with a strong focus on injectables, ophthalmology, and oncology. The company reported a 48% increase in net profit for Q3 of 2023 and is now receiving more product approvals and inspections following COVID-related delays. They plan to promote newer, high-growth potential product.
Open FlipThis year, the finance world mourned the loss of Harry M. Markowitz, the father of Modern Portfolio Theory. His philosophy emphasized that a diversified portfolio is less volatile than the sum of its individual parts.Brinson, Singer and Beebower’s 1991 study further underscored the significance of asset allocation, concluding that asset allocation decisions account for about 92% of a port.
Open FlipReported Standalone quarterly numbers for Divgi Torqtransfer Systems are: Net Sales at Rs 63.05 crore in December 2023 down 1.46% from Rs. 63.99 crore in December 2022. Quarterly Net Profit at Rs. 9.37 crore in December 2023 down 22.22% from Rs. 12.05 crore in December 2022. EBITDA stands at Rs. 17.53 crore in December 2023 down 9.08% from Rs. 19.28 crore in December 2022.
Open FlipSP Apparels Ltd (SPAL), an garment manufacturer and exporter, has signed an agreement to acquire a 100% stake in YBAPL, which makes intimate wear for Jockey and M&S. It was strategically important acquisition in line with the company's vision to diversify into other textile and apparel categories, further strengthen its export basket, market presence and build a more broad-based business model.
Open FlipDigital commerce platform OTO on Tuesday said it raised USD 10 million (around Rs 83 crore) from a clutch of investors, including cricketer K L Rahul. The fresh funding was led by GMO Venture Partners with participation from Turbostart, cricketer K L Rahul and a few other family offices as well as existing investors Prime Venture Partners, Matrix Partners, and 9Unicorns funds, OTO said.
Open FlipReported Standalone quarterly numbers for Goodyear India are: Net Sales at Rs 591.40 crore in December 2023 down 14.18% from Rs. 689.09 crore in December 2022. Quarterly Net Profit at Rs. 21.86 crore in December 2023 down 10.45% from Rs. 24.41 crore in December 2022. EBITDA stands at Rs. 44.99 crore in December 2023 down 5.76% from Rs. 47.74 crore in December 2022.
Open FlipBaweja Studios had a muted debut on the NSE SME platform, opening at a marginal 1.6% premium over its IPO price of Rs 180. The stock quickly gave up its gains and traded at a discount. In the grey market, shares were trading at a 1.1% premium. The company's revenue from operations saw an 81% increase in the last year, with a 192% increase in net profit. The proceeds from the IPO will be used.
Open FlipReported Standalone quarterly numbers for Goyal Aluminiums are: Net Sales at Rs 14.85 crore in December 2023 down 25.18% from Rs. 19.85 crore in December 2022. Quarterly Net Profit at Rs. 0.69 crore in December 2023 up 25.66% from Rs. 0.55 crore in December 2022. EBITDA stands at Rs. 1.00 crore in December 2023 down 36.71% from Rs. 1.58 crore in December 2022.
Open FlipThe quarterly report for CCL Products India showed a decline in net sales, net profit, and EBITDA compared to the previous year. The company's EPS also decreased. Despite this, the company's shares have shown a 3.65% return over the last 6 months and 16.02% over the last 12 months. The company's income from operations was Rs. 326.94 crore in December 2023.
Open Flip"Zydus Lifesciences' stock jumped over 6% to a 52-week high of Rs 809.20 after announcing a proposal for a share buyback on February 9. This will be their second buyback, with the previous one in June 2022. The company will also release its December quarter results on the same day. Nuvama Institutional Equities expects a 6% rise in revenue and 17% increase in net profit.
Open FlipReported Standalone quarterly numbers for Rossell India are: Net Sales at Rs 110.72 crore in December 2023 up 13.84% from Rs. 97.26 crore in December 2022. Quarterly Net Profit at Rs. 1.87 crore in December 2023 up 466.67% from Rs. 0.33 crore in December 2022. EBITDA stands at Rs. 9.53 crore in December 2023 up 47.75% from Rs. 6.45 crore in December 2022.
Open FlipAudi is optimistic about the growth potential in India, but acknowledges that high taxes are hindering the expansion of the luxury car market. They expect the overall automotive industry to continue growing, but the luxury segment may see a moderate increase due to current tax rates. Audi plans to capitalize on the growing Indian market.
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