Our Consumer Durables coverage universe posted a top-line beat versus our estimates, which on a 3Y-CAGR-basis stood at 7.9% (ex-Dixon/Amber). Profitability remained challenging – Ebitda margins dipped 180bp below our estimate, albeit flat y-o-y, owing to high-cost inventory, limited pricing action and higher ad-spends during the quarter. In our view, with commodity costs easing, margins …
Sebi has restructured its advisory committee on market data that recommends policy measures pertaining to securities market data access and privacy. The market data advisory committee will now have 20 members, the latest information on the Securities and Exchange Board of India’s (Sebi) website showed. Earlier, the committee had 21 members. Sebi has replaced NSE’s …
The initial public offer of Syrma SGS Technology, an electronics system design and manufacturing company, was subscribed 32.61 times on the final day of bidding.Syrma is the first company in over two months to hit the market with an IPO and its success may spur fence-sitters to launch their issues as well. The offer received …
Indian equity markets were volatile on Tuesday as tepid global mood kept investors on sidelines. NSE Nifty 50 index was testing the 17,500-mark, while the S&P BSE Sensex was flat at 58,800 levels. Among individual stocks, shares of Infosys dropped over 2 per cent after the IT major slashed average variable payout for the June …
India’s demand for petroleum products like petrol and diesel will grow by 7.73 per cent in 2022, the fastest pace in the world, an OPEC report said.India’s demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2021 to 5.14 million bpd in 2022, OPEC said in its monthly …
In what could give relief to the airlines and hotels & restaurants battling high input costs, oil marketing companies (OMCs) have reduced aviation turbine fuel (ATF) prices by around 12% and the rate for standard commercial LPG cylinders by 1.8% with effect from Monday. The price of domestic LPG cylinder and petrol & diesel at …
Online travel aggregator ixigo, which received a regulatory nod for its proposed Rs 1,600-crore IPO in December last year, is still in a ‘wait and watch mode’ for its public market debut even as the start-up reported a 184% y-o-y increase in revenue from operations for the financial year ended March 2022. Aloke Bajpai, Group …
India’s economy and corporate earnings growth is expected to outpace other large emerging markets helped by six structural themes, said analysts at Bank of America Securities (BofA). Forecasting strong growth for the country, analysts are bullish on domestic cyclical sectors. “We … remain optimistic on domestic cyclical sectors such as Financials/Industrials/select Autos. We believe domestic …
Alibaba Group Holding Ltd on Monday said it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by U.S authorities. Alibaba stock was down 4.5% in a near-flat Hong Kong market in early trade, following its 11.1% decline …
Go to Live Updates Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty opened in the green on Monday and after battling initial volatility remained comfortably in the control of bulls. S&P BSE Sensex rallied 545 points or 0.95% to close at 58,115, while the NSE Nifty 50 index ended at …