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India’s gold imports jump 21.78% to $27 bn in Apr-Sep due to strong demand (30-10-2024)
The country’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 21.78 per cent to USD 27 billion during April-September this fiscal due to strong domestic demand, according to the government data.
The imports stood at USD 22.25 billion in April-September 2023-24.
An industry expert said that the ongoing festival demand is helping the increase in imports.
In 2023-24, India’s gold imports surged 30 per cent to USD 45.54 billion.
Switzerland is the largest exporter of gold, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).
The precious metal accounts for over 5 per cent of the country’s total imports.
The jump in gold imports pushed the country’s trade deficit (difference between imports and exports) to USD 137.44 billion during the first half of the current fiscal compared to USD 119.24 billion during April-September 2023.
India is the world’s second-biggest gold consumer after China.
India’s gold imports jump 21.78% to $27 bn in Apr-Sep due to strong demand (30-10-2024)
The country’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 21.78 per cent to USD 27 billion during April-September this fiscal due to strong domestic demand, according to the government data.
The imports stood at USD 22.25 billion in April-September 2023-24.
An industry expert said that the ongoing festival demand is helping the increase in imports.
In 2023-24, India’s gold imports surged 30 per cent to USD 45.54 billion.
Switzerland is the largest exporter of gold, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).
The precious metal accounts for over 5 per cent of the country’s total imports.
The jump in gold imports pushed the country’s trade deficit (difference between imports and exports) to USD 137.44 billion during the first half of the current fiscal compared to USD 119.24 billion during April-September 2023.
India is the world’s second-biggest gold consumer after China.
KRN Heat Exchanger and Refrigeration standalone net profit rises 40.53% in the September 2024 quarter (30-10-2024)
Sales rise 38.98% to Rs 98.94 crore
Modern Engineering and Projects standalone net profit declines 41.67% in the September 2024 quarter (30-10-2024)
Sales decline 2.17% to Rs 16.25 crore
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Sales decline 4.49% to Rs 479.55 crore
Prudent Corporate Advisory Services consolidated net profit rises 69.36% in the September 2024 quarter (30-10-2024)
Sales rise 50.54% to Rs 286.08 crore
TCI Express consolidated net profit declines 29.93% in the September 2024 quarter (30-10-2024)
Sales decline 2.64% to Rs 311.54 crore
Centrum Capital reports consolidated net loss of Rs 23.51 crore in the September 2024 quarter (30-10-2024)
Sales rise 42.89% to Rs 755.98 crore
IRB INVIT TRUST- new game in the town! (30-10-2024)
Participated in Earning call – Q2/25 Earning call highlights.
IRB InvIT Fund Q2 FY2024-25 Earnings Conference Call
- Next 2-3 years, DPU will be @ 2 per Q
- Next 3-5 years, annual DPU can be @ Rs 9-9.5, even with one assets going out in Jan – 26.
- INVITs are not allowed to buy units from open market, nor does it has funds.
- H1 is affected due to heavy rains, normally H2 collection is better. May see bit rise in DPU of Rs. 2 in Q3/Q4.
- DPU distribution eating away @ 97-98% of toll collection (Minus expenses). This can be concern as own fund will be limiting factor in future assets acquisition.
- Investment manager evaluated @ 32 assets, only 2 got materialized. (Extremely poor performance of Investment manager) Practical danger of IRB INVIT investment managers losses assets to other INVIT in future.
- Interest rate cut can enhance DPU.
- FY 2025 two new HAM assets can be added.
- FY 2026 one BOT assets can be added
- Commercial vehicles contribute @ 70-80% of toll collection.
Any one has idea, lets say I am holding 5000 units right now. What will happen to my investment (@ 62X5000 = 3,10,000) when there is no assets left with INVIT? Thus, price recovering to face value is distant possibility. It can go further down if no new assets added and old assets goes back to NHAI.