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Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

January 27, 2025

  • Diamonds lose their sparkle as prices come crashing down
  • Lab-grown rocks and fewer weddings have put a huge dampener on the market. On the bright side, a big dazzler is now affordable for many
  • https://www.theguardian.com/business/2025/jan/25/diamonds-lose-their-sparkle-as-prices-come-crashing-down
  • Exciting QIP Announcement!
  • Eco Recycling Limited (Ecoreco), a leader in e-waste management, is raising capital to drive eco-friendly initiatives.
  • Highlights:
  • - 120+ countries served
  • - 25,200 MTPA recycling capacity
  • - Zero-debt company
  • - PAN India logistics
  • - Key Achievements:
  • •Expanded capacity by 18,000 MTPA (Feb 2024)
  • •Partnerships for Li-ion battery recycling
  • •₹6 Cr-funded Recycling on Wheels Smart-ER initiative
  • Visit www.ecoreco.com to learn more!
  • #Sustainability #EwasteManagement
  • This relief could be a game-changer for companies like Gujarat Narmada Valley Fertilizers Company (GNFC), Railtel, and Sify Tech, among others. Notably, 90 per cent of the dues are concentrated among 15-20 firms, with GNFC alone accounting for nearly 40 per cent.
  • https://www.business-standard.com/industry/news/govt-preps-rs-82-000-cr-relief-for-non-telcos-decoding-the-agr-dispute-125012400667_1.html
  • Pleasure to share our Q3 newsletter. In this newsletter we try to bring out similarities between India as it stands today and some other Asian economies like Japan, Korea and China which created substantial wealth for investors as they went through massive industrialization and focused on exports. Worth a read.
  • Wish you all a very Happy Republic Day!
  • https://www.linkedin.com/posts/pawan-bharaddia_equitree-q3-fy25-newsletter-activity-7289164984150859778-zrOU?utm_source=share&utm_medium=member_android
  • Can the Nifty Rebound till 23400-23500 from oversold conditions, or will it retest support at 22700 once again ??
  • Check out the Market Outlook shared with Economic Times for the coming week
  • - Nifty, Sensex & Bank Nifty View,
  • - Approach to markets during these periods of FII selling,
  • - View on IT and Energy Index;
  • - Sectors likely to benefit from the upcoming budget
  • - Top Picks,
  • - Large-cap Investing vs Midcaps, What should you prefer ?
  • https://x.com/Sudeep_Shah/status/1883476625268080693?t=KXmJm17Ulu_WVVOSLKgLcw&s=19
  • Do Like, Share & Repost if you like the Inputs !!
  • Weekly Market Recap: Winners, Losers & What's Next!
  • The Nifty dipped for the third straight week, with midcaps and smallcaps facing sharper hits.
  • Find out which stocks rose to the top, which tumbled, and what market trends to watch as the Union Budget approaches 
  • https://blog.liquide.life/stock-market-update-nifty-midcaps-earnings/
  • BEAT THE STREET BULLETIN
  • *Date: 27-Jan-2025*
  • TG: https://t.me/BeatTheStreet10
  • 1. Order Wins & Contract Updates
  • - KEC International: Secured new orders worth ₹1,445 crores in the Transmission & Distribution (T&D) segment.
  • - RPP Infra Projects: Awarded an ₹87.56 crore order for constructing stormwater drains in Tamil Nadu.
  • - Newmalayalam Steel: Received orders worth ₹5.69 crore for supplying pipes and tubes.
  • - Lakshaya Powertech: Won an order of ₹1.36 crore for the supply and installation of DG sets.
  • - Kailash Exports: Received export orders worth ₹55 crore.
  • - L&T Technology Services: Secured new contracts valued at ₹2,200 crore for engineering solutions.
  • - BHEL: Awarded a ₹275 crore order for setting up power plants in a foreign market.
  • ---
  • 2. Q3 Financial Results / Updates
  • - RPG Life Sciences: Achieved a 32% YoY growth in net profit, which stood at ₹34.9 crore.
  • - Steel Exchange India: Saw a dramatic 7830% YoY surge in net profit to ₹15.85 crore.
  • - SBC Exports: Net profit increased by 25% YoY to ₹3.57 crore.
  • - Mehai Technology: Reported a 581% QoQ rise in net profit, amounting to ₹5.45 crore.
  • - Cybertech Systems: Achieved a 64% YoY increase in net profit to ₹9.04 crore.
  • - Surana Solar: Registered a 60% YoY rise in net profit to ₹0.16 crore.
  • - JK Cement: Reported a 33% YoY decline in net profit, amounting to ₹189 crore.
  • - Macrotech Developers: Reported an 88% YoY increase in net profit, details unspecified.
  • - L&T Finance: Reported a 20% YoY growth in profit during the quarter.
  • ---
  • 3. Acquisitions & Mergers
  • - Equinox India: Completed its merger with the Embassy Group to strengthen its real estate portfolio.
  • - Gujarat Ambuja Exports: Acquired 50 lakh equity shares in Maiz Citchem Ltd., making it a subsidiary.
  • - Palco Metals: Acquired full ownership of Palco Recycle Industries Ltd., enhancing its metal recycling operations.
  • - Jubilant Pharmova: Completed a strategic acquisition of a manufacturing facility in Europe.
  • - Hindustan Zinc: Acquired a 5% stake in a zinc mining company in Africa.
  • - Suzlon Energy: Finalized the acquisition of a wind turbine manufacturing facility in the U.S.
  • ---
  • 4. Leadership Changes & Appointments
  • - Equinox India: Appointed Mr. Jitendra Mohandas Virwani as a Non-Executive Non-Independent Director.
  • - L&T Finance: Mr. Sanjay Garyali, the Chief Executive of Urban Finance, will resign in March 2025.
  • - Motherson Sumi Systems: Appointed a new CEO to lead its global expansion initiatives.
  • - HDFC Bank: Announced the appointment of a new Chief Risk Officer to enhance governance.
  • - Tata Motors: Appointed a new Director for Electric Vehicles and Sustainable Mobility.
  • ---
  • 5. New Projects, Expansion & Facilities
  • - Lemon Tree Hotels: Signed a memorandum of agreement for a new hotel in Gujarat, set to open in FY 2029.
  • - Kody Technolab: Launched Falcon Tech Robotics LLC in partnership with Platinum Group in the UAE.
  • - Tech Mahindra: Began work on a new AI-based data center project in California.
  • - ICICI Bank: Expanded its branch network with the opening of 50 new branches across India.
  • - Hindalco: Announced the construction of a new aluminum processing plant in Jharkhand.
  • - Asian Paints: Set to expand its manufacturing plant in Gujarat for enhanced production capacity.
  • ---
  • 6. Legal / Regulatory & Compliance Updates
  • - Jubilant Foodworks: Received a GST demand order amounting to ₹14.57 crore for discrepancies.
  • - PC Jewellers: Filed a settlement application with SEBI regarding ongoing regulatory proceedings.
  • - Yes Bank: Received a directive from RBI to enhance risk management protocols.
  • - ICICI Lombard: Settled a regulatory investigation into mis-selling insurance policies, agreeing to a fine.
  • - Adani Ports: Settled a dispute with the Gujarat Maritime Board concerning land use regulations.
  • ---
  • 7. Corporate Strategy & Restructuring
  • - Mehai Technology: Approved a stock split of 1 share into 10 shares, aimed at improving liquidity and accessibility for investors.
  • - Technowgreen Solutions: Canceled a stock issuance of 3,00,000 equity shares due to unfavorable market conditions.
  • - Omaxe Ltd: Reorganized its project portfolio and consolidated key assets to streamline operations.
  • - Sterlite Technologies: Announced a strategic restructuring to enhance focus on fiber optic production.
  • ---
  • 8. Financial, Profitability & Shareholder Updates
  • - IDFC First Bank: Reported a 53% YoY drop in net profit to ₹339 crore.
  • - Yes Bank: Achieved a 165% YoY increase in net profit, reaching ₹612 crore.
  • - Ambuja Exports: Net profit for Q3 declined by 29% YoY, dropping to ₹71.3 crore.
  • - ICICI Prudential Life Insurance: Saw a 15% increase in revenue, totaling ₹20,000 crore in FY 2024.
  • - Axis Bank: Reported a stable 5% YoY increase in net profit to ₹4,500 crore.
  • ---
  • 9. Other Notable Developments
  • - L&T: Received approval for a new infrastructure project worth ₹2,500 crore.
  • - HDFC Ltd: Announced plans to launch a new range of home loan products targeting millennials.
  • - Tata Steel: Completed a greenfield steel plant project in Odisha, aimed at reducing carbon emissions.
  • - Jindal Steel: Signed a partnership agreement with a leading automaker to supply steel for electric vehicles.
  • - Wipro: Launched a new AI-driven software suite for small and medium businesses.
  • - Mphasis: Launched a global cloud services platform to target new markets in Asia and Europe.
  • - Reliance Industries: Introduced a renewable energy initiative to power its petrochemical plants.
  • - Birla Corporation: Planned the expansion of its cement production capacity in Maharashtra.
  • ---
  • TG: https://t.me/BeatTheStreet10
  • Stay updated with Beat the Street
  • BERNSTEIN ON ICICI BANK
  • Market Perform, Target Price ₹1440
  • Dream run continues
  • Strong quarter
  • Growth was lower than consensus but much higher CASA growth paints a good picture on the growth front
  • Bank is prioritizing profit over growth
  • Results justify premium valuations
  • CLSA ON ICICI BANK
  • MAINTAIN OUTPERFORM ,TARGET: 1,600
  • Delivered Yet Another Strong Quarter, With PpOP Beating Estimate By 6%
  • Core Profit Beat (Adjusted For Provision Reversals) Was A Strong
  • Beat Came Despite Curtailing Balance Sheet Growth To Below Estimate Levels Of 14% YoY
  • Asset Quality Was Strong With A Stable Gross NPL Ratio And A Lower Slippage Ratio YoY
  • Margin Was Steady While Opex Improved Sequentially
  • Deposits Grew 14% YoY While The CASA Ratio Was Stable
  • JPMORGAN ON ICICI BANK
  • MAINTAIN OVERWEIGHT, TARGET: 1,500
  • Q3 Profit Was In-line With Estimates
  • Sharp Opex Control & Better Fee Drove Core PpOP
  • CASA Growth Was Well Ahead Of System & LDR Remains Comfortable At 85%
  • Asset Quality Was Stable With Net Slippages At 0.8%
  • Earnings Were Aided By Small Drawdown In Contingency Reserves Adjusted
  • JEFFERIES ON ICICI BANK
  • MAINTAIN BUY , TARGET: 1,600
  • Co Continues To Deliver Well With Profit Ahead Of Estimates
  • Healthy Deposit Growth Of 14% & CASA Growth Of 17% Aided Loan Growth Of 14%
  • Low LDR (Domestic) Of 85% & High LCR Of 122% Offer Support
  • Asset Quality Has Held Up Well; In Fact, This Is Also Evident In Trends From Other Banks
  • BERNSTEIN ON NTPC
  • MAINTAIN OUTPERFORM ,TARGET: 440
  • Q3FY25 Was A Modest Quarter
  • Co Retained Commissioning Guidance Which Leaves A Steep Target For Coming 2 Months
  • Co Best Hedge Across Thermal & Renewable At Valuations Below Global Peers
  • Projects Have Been Delayed & Power Demand Is Soft
  • Confidence Is From Order Placement & Rising Interest In Inorganic Route Specially With State Generators
  • JEFFERIES ON NTPC
  • MAINTAIN BUY ,TARGET: 500
  • Q3 Profit Lower Than Expectations, But Should Largely Be Compensated In Q4
  • Q3 Did Not See Any Material Capacity Addition
  • Mgmt Maintained That Q4 Should See 2.7 GW Thermal & 2.4 GW Renewable Energy Commissioned
  • RE & Thermal Capacity Ramp-up With Medium-term Double-Digit EPS CAGR Remain Re-rating Drivers
  • JEFFERIES ON IDFC FIRST BANK
  • MAINTAIN BUY , TARGET: 73
  • Profit For Q3 Fell By 53% & Missed Estimates
  • Slower Topline Growth & Rise In Credit Costs Dragged Profit
  • MFI Continues To Drag Earnings & See Pain Continuing For 2-3 quarters
  • Other Segments Are Stable On Quality & New Disclosures Lend Comfort
  • With Weaker Topline Growth For FY26, Mgmt Will Focus On Op Leverage
  • Cut FY26-27 Estimates By 8-10%
  • JEFFERIES ON DLF
  • Buy, Target Price ₹1000
  • Q3 pre-sales beat estimates
  • Re-sales driven by the highly successful Dahlias Golf Course Road launch
  • Cash collections surged alongside
  • P&L broadly in line
  • CLSA ON DLF
  • Outperform, Target Price ₹975
  • Pre-sales above estimates
  • Highest ever quarterly sales clocked by any developer in India
  • Such high pre-sales considering very high ticket size of ₹650 to 750 million per apartment is a testimony to DLF's unparalleled brand positioning in the NCR market
  • DLF has already surpassed its FY25 target
  • GOLDMAN SACHS ON INTERGLOBE
  • Buy, Target Price ₹4650 vs ₹4800 earlier
  • Q3 reported EPS above estimate
  • Solid underlying growth
  • Cost improvement above estimates
  • Competitive positioning is strengthening
  • Cut FY26/27 EPS estimate by 5/6% due to latest USD/INR rate and jet fuel prices
  • Do not assume a compensatory yield improvement
  • Morgan Stanley on BKT
  • Underweight, TP Rs 2159
  • Q3 Rev, EBITDA & PAT growth of 11%, 9% & 42% YoY, respectively
  • Gross margin declined 10bps QoQ to 52.4%, while EBITDA margin expanded 10bps QoQ to 24.9%
  • A sharp increase in unrealized forex gains of Rs1.1bn drove PAT growth of 42% YoY to Rs4.4bn
  • Morgan Stanley on IGI
  • Initiate OW, TP Rs 617
  • While diamonds are forever, most consumers have lacked purchasing power
  • Growing lab grown diamond industry could help to change this, though proof of concept is still a work in progress
  • IGI interesting way to position for potential success of LGDs
  • Morgan Stanley on Vishal Megamart , Initiate OW, TP Rs 161
  • Look for ROE & ROCE to improve to 16% & 15% in F29e
  • Key downside risks
  • 1) Customers' changing proposition towards convenience
  • 2) significant change or departure at senior management level
  • 3) promoter exit risk
  • 4) slower SSSG expansion
  • Nuvama on ICICI BK
  • Buy, TP Rs 1470
  • Delivered strong Q3 with lower-than-expected core slippage and credit cost.
  • Deposit growth was soft at 1.5% QoQ because bank optimised its borrowing mix
  • Gross credit cost was 50bp versus reported 37bp.
  • HSBC on Torrent Pharma
  • Buy, TP Rs 4000
  • Operationally steady 3Q despite no insulin CMO sales & BRL depreciation
  • EBITDA margin outlook remains robust given a healthy mix (76% rev from BGx markets) & rising sales productivity
  • Better visibility on GLP-1 products will be key to watch
  • Golman Sacs on Torrent Pharma
  • Buy, TP Rs 3925
  • Q3 broadly inline as sales/EBITDA grew +3%/+5% yoy (+7%/9% adj. for insulin plant shutdown & BRL depreciation impact of 2% pts each), driven by decent performance in India & US, partially offset by Brazil/other businesses
  • Morgan Stanley on Shriram Fin
  • OW, TP Rs 840
  • Adjusted PAT of Rs20.8bn (flat QoQ, +14% YoY) was 4% below MSe.
  • PBT before exceptional items (+3% QoQ, +17% YoY) was also 5% below MSe.
  • Credit costs of 2.13% (+6bp QoQ) was higher than MSe of 2.05%.
  • SHMF maintained total coverage QoQ at 119%
  • UBS on Shriram Fin
  • Buy, TP cut to Rs 700
  • Credit cost remained flat QoQ though margin fell on higher liquidity
  • Broad-based strength in growth
  • Management remains confident on growth and asset quality
  • CITI on Shriram Fin
  • Buy, TP Rs 720
  • Concerns over AQ weakness mitigated as rise in GS3/GS2 contained
  • Credit cost/AUM at 2.13% also beat expectations
  • Mgmt. expressed confidence in stable fleet utilization, steady operator profitability & temporary cashflow mismatches set to ease
  • CITI On JSW Steel
  • Sell, TP Rs 715
  • 3Q standalone EBITDA fell 24% yoy on lower blended realizations(-11% yoy); vol rose 8% yoy, while costs(per tonne) fell 7% yoy
  • Standalone EBITDA/t: Rs7870 vs Rs8760 in 2Q &Rs11100 last yr
  • Current net D/EBITDA is 3.6x
  • Macquarie on USL
  • U-P, TP raised to Rs 1250
  • Healthy growth in mid-end & opening of Andhra Pradesh market make UNSP confident of 10%+ prestige growth in FY25.
  • Benign cost environment & 18% Ebitda margin in 9M make UNSP more confident on FY25 Ebitda margin
  • Kotak Inst Eqt on Laurus Labs
  • Sell, TP Rs 420
  • Reported a 24% sequential jump in Synthesis sales in 3Q, driving a largely in-line overall performance
  • At 65X FY2026E P/E, believe that long-anticipated earnings recovery is fully factored in
  • GS in Laurus Labs
  • Sell, TP Rs 475
  • 3Q sales/EBITDA growing 18%/57% yoy (above GSe/ inline with consensus), driven by robust growth in CDMO & FDF businesses
  • EBITDA margin improved to 20.2% (+497bps yoy), on back of improvement in GMs (+253bps yoy) & operating leverage
  • CITI on AU Small BK
  • Neutral, TP Rs 625
  • Slippages spiked to 4%; credit cost came in higher at 2.06% (vs 1.62% in 2Q) with MFI & PL/CC credit cost breaching 10%.
  • Expects MFI slippages to spill over to 4Q; credit cost to stay elevated for few more quarters.
  • UBS on AU Small BK
  • Neutral, TP Rs 640
  • Credit cost rose sharply; PAT beat boosted by lower opex
  • Deposits growth modest at 2% while margins slip 20bp QoQ
  • Management guides for higher credit cost & lower growth
  • Stk trades @2.3x FY26E P/BV which appears fairly valued
  • JP MORGAN on AU Small BK
  • Neutral, TP cut to Rs 625
  • 3Q PAT at Rs5.3bn(-7% q/q; ROE: 13%) was in-line
  • Asset quality expectedly took a hit during qtr with gross /net slippages rising to 4%/3% from higher stress in unsecured portfolio
  • This will remain elevated in 4Q
  • Nomura on AU Small BK
  • Downgrade to Reduce, TP cut to Rs 500
  • AQ pain to persist; ; FY25F loan growth guidance lowered
  • Cut FY26F-27F EPS by 5%
  • Management highlighted credit cost in credit cards appears to have peaked, while in MFI segment likely to remain elevated for next 2/3 qtrs
  • Kotak Inst Eqt on Interglobe Aviation
  • Buy, TP Rs 5100
  • Outperformance in 3Q reflects its smart use of supply card & network to its advantage when sector demand is bouncing back & peers have ltd. cards to play
  • Key downside risk- higher-than-expected cost inflation
  • UBS on Interglobe Aviation
  • Buy, TP Rs 5400
  • Q3- Better demand & in line costs offset by sharp USD appreciation
  • Q3 - ASK +12% YoY with PLF of 87%; Yields down 1%, CASK up 7% YoY
  • Key takeaways: Strong aircraft addition; taking steps to mitigate forex
  • GS on Interglobe Aviation
  • Buy, TP Rs 4650
  • While rev were in-line with GSe, CASK (ex-FX) at Rs4.66 was below GSe at 4.79, driven largely by higher fuel efficiency & lower aircraft rentals
  • Management guided to 20% yoy ASK growth & low single digit yoy yield decline for 4Q
  • Jefferies on Interglobe Aviation
  • Buy, TP Rs 5300
  • 3Q EBITDA/PAT was in line, as higher forex MTM (non-cash) impact negated topline beat.
  • Ex-forex, profit spreads hit a record high, amid strong travel demand aiding yields
  • Elara on Interglobe Aviation
  • Buy, TP Rs 5309
  • Q3 reported PAT down 18% YoY but ex-forex adjusted PAT up 28% YoY
  • Operating data improves YoY; passenger load factor (PLF) up
  • Aircraft grounding decelerating: Currently, 60 aircrafts grounded
  • Kotak Inst Eqt on Atul
  • Sell, TP Rs 5140
  • 3Q missed est, with margins surprisingly dipping qoq—even when adjusted for a Rs160 m 1-off expense—despite favorable pricing movements in a few key products
  • Cut EPS est. by 4-10%
  • Outlook remains unclear
  • CLSA ON AMBER ENT
  • Hold, target raised to Rs 7000 vs Rs 6300
  • Q3 above estimates on better durable and electronics
  • Growth levers ahead, execution is a Key
  • Raise EBITDA estimate by 3 to 14%, but cut EPS estimate by 4 to 5%
  • CLSA ON TORRENT PHARMA
  • Hold, target Rs 3420 vs Rs 3230
  • Strong growth in India offsets decline in Brazil and the US
  • Raise FY26 / 27 estimates due to strong outlook on India business and margins improvement
  • India business expected to outperform the IPM
  • Expecting gradual growth in US and Germany business
  • JEFFERIES ON TORRENT PHARMA
  • Buy, target Rs 3,970 vs Rs 4,130
  • Q3 steady, but weak exports
  • Steady growth in India, export growth impacted by currency depreciation in Brazil
  • Exports to remain weak in near term
  • Cut FY25 to 27 EBITDA by 3 to 4%
  • HSBC ON SHRIRAM FINANCE
  • Buy, Target Rs 745
  • Solid quarter
  • Healthy growth, expansion in lending spreads and contained asset quality, credit cost were key highlights
  • Management highlights improvement in demand environment for CV, also resale prices were stable
  • Cut FY25/27 EPS estimate by 1.6 to 2.5% to factor in higher operating cost due to spend on branding/promotions
  • Marginally cut AUM estimates factoring in lower growth in vehicle sales in FY25
  • JEFFERIES ON SHRIRAM FINANCE
  • Buy, Target Price ₹710 vs ₹734
  • Among top picks
  • Slight miss on profit due to lower NII and higher provision
  • NIM fall due to drag from excess BS liquidity, this can take a few quarters to be absorbed
  • Expect AUM CAGR to hold up to 17% over FY25/27
  • GNPA better than market peers bett
  • At 1.5X FY26 BV, valuations are attractive
  • NOMURA ON AU SFB
  • Downgrade to Reduce vs Neutral, target price down to ₹500 vs ₹580
  • Asset quality pain to persist
  • Management highlighted credit cost in the MFI likely to remain elevated for the next 2-3 quarter
  • Credit cost guidance for FY25E was raised to 1.5-1.6% (vs. ~1.25-1.35%)
  • Management also lowered its loan growth guidance for FY25E to 20% y-y (vs. 25% previously)
  • Cut FY26F-27F EPS by ~5%
  • DECCAN GOLD ; Update on the operations of Kalevala Gold Oy, Finland ("Kalevala"), associate company
  • Company has two gold mines under development which are expected to proceed to full-scale production in 2025.
  • The work plans outlined in this Update position Kalevala to become the Company's third producing gold operation subject to satisfactory economic assessment
  • Company had initially acquired a 31.52% stake in Kalevala during September, 2023 under a share swap transaction.
  • As on date, Kalevala holds 8 licences granted or under process. Kalevala expects the licences under process to be executed by mid-2025.
  • JUPITER WAGONS ; Jupiter Electric Mobility and Porter Unite to Sign a MoU to Empower Drivers Through JEM Udaan Program
  • Revolutionizing Last-Mile Logistics with Sustainable Mobility and Entrepreneurial Opportunities
  • C2C ADVANCED ; NSE LARGE TRADE ON FRIDAY
  • MUKUL AGGARWAL SOLD 84 K SHARES AT 713.81/SHARE
  • VALIANT LAB ; NSE LARGE TRADE ON FRIDAY
  • JAINAM BROKING LIMITED SOLD 5.5 LKH SHARES @ ₹ 105.77/SHARE
  • MONEY LOGIX SECURITIES PVT LTD BOUGHT 5.5 LKH SHARES @ ₹ 105.78
  • AGARWAL TOUGH : NSE LARGE TRADE ON FRIDAY
  • KVIJAY VENTURES LLP SOLD 1,51,200 SHARES @ ₹ 117.33
  • AU SMALL CUTS FY25 GUIDANCE
  • FY25 Loan Growth Guidance Cut To 20% From Earlier Guidance Of 25%
  • In Loans: Secured Book Will Grow By 23%-25%; Unsecured Book Will De-Grow By 10%
  • FY25 Credit Cost Guidance Raised To 1.5%-1.6% From Earlier Guidance Of 1.3%-1.4%
  • ROA Now Expected To Be Within Striking Distance Of 1.6% From Earlier Guidance Of Around 1.6%
  • Credit Cost Is Expected To Be Higher For Next Couple Of Quarters In MFI Segment
  • FY26 Growth Guidance Is Withheld Given Uncertain Macro Environment
  • JK CEMENT Q3
  • Volumes +5% yoy and +13% qoq
  • EBITDA/tn at Rs.1001/tn, improves Rs.350/tn qoq
  • EBITDA/tn improves on operating leverage & dip in fuel costs
  • JK CEMENT: CO TO ACQUIRE 60% STAKE IN SAIFCO CEMENTS FOR RUPEES 174 CR, EXPAND OPERATIONS IN JAMMU & KASHMIR REGION
Panchkarma