Piramal Pharma reported a significant increase in consolidated net profit for Q2, growing from Rs 5 crore last year to Rs 23 crore. Revenue also rose to Rs 2,242 crore. Key drivers include strong growth in the CDMO and CHG businesses, with expansion plans in Lexington, Dahej, and Digwal to meet rising demand.
JSW Steel Q2 results preview: PAT may decline by 71-80% YoY, revenue fall likely by up to 8.5% (24-10-2024)
JSW Steel’s net sales and profit after tax (PAT) for Q2FY25 are expected to decline significantly. Various brokerages predict revenue to decrease by up to 8.5% and PAT to drop by 71-80% year-on-year. The company will report its earnings on October 25, 2023. Estimates show a challenging quarter ahead for the steel giant.
Siemens declines 1.33% as Sensex slides (24-10-2024)
The stock traded at a P/E multiple of 98.17, while the price-to-book value ratio stood at 9.99.
World Opens to the Taliban Despite Their Shredding of Women’s Rights (24-10-2024)
Taliban officials have scored a series of diplomatic victories this year that have started a subtle shift toward normalizing their government.
MF licence aspirant list swells with new wave of AMCs (24-10-2024)
India’s thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
US stocks extend corrective action, NASDAQ tanks 1.6% (24-10-2024)
The US stocks eased yesterday as major averages all moved notably lower, with the Dow and the S&P 500 extending their losing streaks to three days. The Dow slumped 409.94 points (1%) to 42,514.95, the Nasdaq tumbled 296.47 points (1.6%) to 18,276.65 and the S&P 500 slid 53.78 points (0.9%) to 5,797.42.
The weakness on Wall Street came amid a continued increase by treasury yields, which have moved sharply higher over the past few sessions. The yield on the benchmark ten-year note has risen to its highest level in almost three months amid worries the Federal Reserve will lower interest rates slower than previously anticipated.
Share price of Indian Oil Corp. rises as Nifty weakens (24-10-2024)
A total of 337,807 shares changed hands on the counter till 11:41AM (IST).
Pidilite Industries shares gain 4% after steady Q2FY25 results; details (24-10-2024)
Pidilite Industries shares hit an intraday of Rs 3219.25 a piece, rising 4.13 per cent on the BSE
KPIT – CASE (connected, autonomous, shared, electric) – Focused Automotive Play (24-10-2024)
I don’t think the fall in stock price has anything to do with fund raising. When the company is trading at such high valuations, a miss in earnings can easily bring down the stock by 10-15% in a day or two. If you look at the commentary of management also, they are acknowledging the slow down in Auto in Europe and they expect it to continue even in Q3.
We need to understand that KPIT got higher valuations due to delivering results Q after Q. Now when the growth slows down, the valuations will revert. Also one has to understand that KPIT is a focused ER&D player only on Mobility. What worked in their favor (compared to diversified players) during tailwinds will exactly work against them during headwinds.
Disc – Not invested.