Posts in category All News
Zomato to replace JSW Steel in BSE Sensex from December 23 (22-11-2024)
Food delivery company Zomato will replace JSW Steel in the BSE Sensex as part of the index reconstitution which becomes effective from December 23.
Sebi asks exchanges to look into disclosure concerns on Adani Group (22-11-2024)
Exchanges have sought clarification from the group entities on LODR-related lapses, if any
Sirca Paints India Limited (22-11-2024)
- Revenue for Q2 FY25 was INR 105.5 crores, a 26.2% YoY increase and 34.1% QoQ growth.
- EBITDA margin declined to 17.97% due to competitive pressures and raw material cost fluctuations but rebounded by 34.7% QoQ.
- PAT and EPS showed a 30.1% QoQ improvement.
- Growth driven by high-value acrylic products in Western and Southern India.
- EBITDA margins faced challenges due to prolonged monsoons, muted demand, and raw material price volatility.
- INR 96 crores of revenue from core PU business, INR 11 crores from the acquisition of the Welcome brand, and INR 1.2 crores from Oikos products.
- Facility currently operating at 60% capacity utilization, expected to reach 75% by FY-end.
- Holds a 28% market share in Delhi NCR in the wood coatings segment.
- Asian Paints leads with 42% in the same region but focuses more on primary sales.
- Focus on secondary sales and contractor-driven demand.
- Inventory levels increased due to higher planning for raw materials and finished goods.
- Transition from imported to locally produced inventory expected to stabilize in 4 months.
- Supply chain disruptions due to geopolitical issues (e.g., Iran-Israel conflict) impacting imports.
- Contributions from Welcome and Oikos were clarified as INR 11 crores and INR 1.2 crores, respectively.
- Margins expected to recover to 20%-21% by year-end due to price hikes and cost optimization.
- Decorative segment growth revised downward due to intense competition and pricing pressures.
- Export plans for Russia, UAE, and South Asia are progressing, with EUR 20 million revenue potential.
- Expanding distribution network, now at 2,476 nodes, excluding OEMs.
- Investing in brand visibility and launching initiatives like the Sirca Parivaar app for better customer engagement.
- Exploring inorganic growth through acquisitions in South India.
- Increasing focus on high-value acrylic PU products.
- Market shift toward sustainable, high-quality coatings.
- Aggressive competition in the decorative segment impacting margins.
- Planning a new facility in Gujarat (capex INR 20-25 crores) to expand PU production capacity.
- Export to Russia, UAE, and South Asia in trial phases with a revenue potential of EUR 20 million.
- Import timelines extended due to geopolitical conflicts, increasing inventory needs.
- Targeting 40% revenue growth for FY25, driven by acrylic PU and OEM business.
- EBITDA margin expected to stabilize at 20%-21% for the full year.
- Confident about achieving full-year guidance with better demand in H2.
- Q3 revenues expected to be slightly muted due to construction bans in Delhi NCR.
- Planned capex of INR 20-25 crores for a new facility to produce 16,000 tons/year of PU products, generating potential revenue of INR 380-400 crores.
What Bondi Might Do as Attorney General (22-11-2024)
Donald Trump’s new pick to lead the Justice Department fought to overturn the Affordable Care Act, and has lobbied for Amazon, Uber and General Motors.
Investors fully subscribe Enviro Infra Engineers IPO on day 1 of offer (22-11-2024)
The initial share sale of Enviro Infra Engineers, which is involved in development of turnkey projects of sewage treatment plants and sewerage system, got fully subscribed on the first day of the offer on Friday.
The initial public offering (IPO) received bids for 6,38,69,269 shares against 3,07,93,600 shares on offer, translating into 2.07 times subscription, according to NSE data.
The portion for non-institutional investors attracted 2.98 times subscription while the qualified institutional buyers (QIBs) part got subscribed 2.04 times. The category for retail individual investors (RIIs) fetched 1.70 times subscription.
Enviro Infra Engineers on Thursday collected about Rs 195 crore from anchor investors.
The Rs 650-crore initial share sale is in a price range of Rs 140-148 apiece.
The company’s IPO is a combination of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters.
Currently, promoters hold over 93 per cent stak
Tech view: Nifty rebounds above 23,500 level, 200 DEMA; pullback rally eyes 24k resistance. How to trade on Monday (22-11-2024)
The Nifty gained 375 points over the week to close at 23,907. A smart comeback by the bulls in the second half of this week helped the market recover almost the entire loss registered in the first half.