OPEC stated in a monthly report that the strong growth seen in India during 4Q23 appears to be carrying over into 2024. India’s economy grew by 8.4%, y-o-y, in 4Q23, with services expanding by 7.0%, y-o-y, and manufacturing by 11.6%, y-o-y. Industrial production also maintained momentum into 2024, with a 5.7%, y-o-y, increase in February and 4.1% growth in January, following a 4.3%, y-o-y, rise in December. Amidst these positive trends, consumer confidence rose to 98.5 in March, up from 95.1 in January. The ongoing election cycle is expected to boost spending, especially in rural areas. Combined with more efficient delivery mechanisms, the impact of election- related spending is expected to be significant. The Reserve Bank of India (RBI) held the key repo rate steady at 6.5% in April.
Posts in category Business Standard
Granules India edges higher after PAT rises to Rs 129 crore in Q4; EBITDA margin at 22% (15-05-2024)
Granules India rose 1.26% to Rs 404.85 after the company reported 8.40% rise in consolidated net profit to Rs 129.65 crore despite a 1.65% fall in revenue from operations to Rs 1,175.78 crore in Q4 FY24 as compared with Q4 FY23.
V-Mart Retail Q4 net loss widens to Rs 39 crore (15-05-2024)
The diversified retail company’s net loss widened to Rs 38.92 crore in Q4 FY24 from net loss of Rs 36.96 crore posted in Q4 FY23.
Welspun Corp Ltd spurts 1.45%, gains for third straight session (15-05-2024)
Welspun Corp Ltd is quoting at Rs 602, up 1.45% on the day as on 12:49 IST on the NSE. The stock is up 161.34% in last one year as compared to a 21.36% spurt in NIFTY and a 65.67% spurt in the Nifty Metal index.
APL Apollo Tubes Ltd gains for third straight session (15-05-2024)
APL Apollo Tubes Ltd is quoting at Rs 1600.55, up 1.29% on the day as on 12:49 IST on the NSE. The stock is up 38.81% in last one year as compared to a 21.36% jump in NIFTY and a 65.67% jump in the Nifty Metal index.
Bank of Baroda rises for third consecutive session (15-05-2024)
Bank of Baroda is quoting at Rs 263.75, up 1.11% on the day as on 12:49 IST on the NSE. The stock is up 41.42% in last one year as compared to a 21.36% spurt in NIFTY and a 8.48% spurt in the Nifty Bank index.
Oberoi Realty gains as Q4 PAT climbs 64% YoY to Rs 788 cr (15-05-2024)
Oberoi Realty advanced 2.83% to 1,564.45 after the company’s consolidated net profit jumped 64.07% to Rs 788.03 crore on 36.75% increase in revenue from operations to Rs 1,314.77 crore in Q4 FY24 over Q4 FY23.
Panama Petrochem leases land in RAK Maritime City Free Zone, UAE (15-05-2024)
The lease agreement is for a sum of AED 522,500 per annum for the first year. The consideration shall be subject to increase every year by 4% of the then current Consideration.
Bandhan Bank Ltd spurts 0.82%, rises for fifth straight session (15-05-2024)
Bandhan Bank Ltd is quoting at Rs 190.1, up 0.82% on the day as on 12:44 IST on the NSE. The stock is down 22.19% in last one year as compared to a 21.43% spurt in NIFTY and a 8.51% spurt in the Nifty Bank.
KLM Axiva Finvest standalone net profit rises 176.70% in the March 2024 quarter (15-05-2024)
Sales rise 9.11% to Rs 81.47 crore