Revenue rose 7.2% from a year earlier, the slowest in five quarters, shows an analysis of the numbers from 175 companies that have reported results for the fiscal second quarter. Net profit growth at 2.5% was a six-quarter low, even as the operating margin of the sample group fell 1.5 percentage point to 20.9%.
Posts in category Economic Times
Recent acquisitions help shore up Tata Consumer revenue (21-10-2024)
At 14.9%, the company’s operating profit margin for the quarter was 47 basis points, or 0.47 percentage point, higher than the year-ago level, but it was lower than the previous three quarters. TCPL’s revenues from the beverage business in India grew 3%. Excluding the Organic India acquisition, growth of its beverage business declined 4% due to subdued demand.
Approval delays for RCap buy keep Hinduja Group on edge (21-10-2024)
The acquisition, approved by Reliance Capital’s creditors more than a year ago and by the National Company Law Tribunal (NCLT) in February this year, is now held up pending key regulatory approvals from the Reserve Bank of India (RBI), department for promotion of industry and internal trade (DPIIT) and the Insurance Regulatory and Development Authority of India (Irdai) among others, multiple people aware of the matter told ET.
Low debt, backward integration plans make Waaree a long-term opportunity (21-10-2024)
Mumbai-headquartered company commenced operations in 2007. As of June 2024, it had 12 gigwatts (GW) of aggregate installed capacity compared with 4 GW in FY22.
Holding 25,000 can take Nifty higher: Analysts (21-10-2024)
Stocks like Axis Bank, ICICI Bank, Hindalco, Reliance Industries, SBI, and Bank of Baroda have formed bullish patterns, while DLF and Macrotech Developers are expected to face corrections, analysts said.
Wall Street zeroes in on semiconductors after turbulent week (21-10-2024)
Because semiconductors are key components in a broad array of products, chipmakers and related equipment companies are closely followed for insight into the economy. Wall Street also watches the stocks as indicators of overall market trends.
HDFC Bank’s board approves Rs 12,500-cr IPO for HDB Financial (21-10-2024)
The NBFC will also issue fresh equity shares worth ₹2,500 crore in the IPO, taking the total size of the issue to around ₹12,500 crore, the bank said in a notice to the stock exchanges.
Give Leverage, Will Trade: MTF book rises to Rs 84,800 cr (20-10-2024)
The money borrowed under the brokers’ margin trading funding (MTF) facility – a system allowing investors to borrow to buy shares they cannot afford – swelled by 50% jump last week from March 31, as interest rate cuts on loans for trading in the market recently has encouraged individuals to use more of this funding product.
FPIs pull out Rs 23,274 crore from financial services in 15 days (20-10-2024)
Financial services bore the biggest brunt of foreign selling, with investors pulling ₹23,274 crore out of these shares after buying a similar amount in September. From January to September, overseas investors sold ₹37,732 crore in the sector.
ACRE submits Anchor bid to buy 5 Zee Group accounts (20-10-2024)
Assets Care & Reconstruction Enterprise (ACRE) has made a bid to buy five non-performing loans related to Zee Group from JC Flowers ARC. They are offering ₹505 crore in cash for debts totaling ₹1,350 crore. A Swiss auction is scheduled for November 6, with a reserve price of ₹505 crore. The winner will be announced on November 8.