Congress urges the Modi government to disclose details of the India-China agreement on troop patrolling points. They seek clarity on whether Indian troops can patrol in previously accessible areas in Depsang, Demchok, Pangong Tso, and Gogra-Hot Springs. The timing coincides with the Modi-Xi meeting at the Brics summit in Russia.
Congress, NCP (SP), and Sena (UBT) finalise 270-seat pact, discussions on remaining seats to follow (23-10-2024)
Seat-sharing negotiations among Maharashtra Vikas Aghadi (MVA) allies—Congress, Uddhav Balasaheb Thackeray Sena faction, and Nationalist Congress Party—continue, with 270 out of 288 seats agreed upon. Each party will contest 85 seats, leaving 18 for further discussion. Talks resume Thursday to include smaller alliance partners.
Third Eye: Turning the punch into a punchline, listening to all theaffected parties and all those energised to clear the bills (23-10-2024)
Raj Thackeray’s recent speech missed impact when he called a leader ‘Pushpa’. When clarifying it was Eknath Shinde, the crowd still did not react, although Shinde’s supporters have adopted the characterization. Additionally, Haryana’s Anil Vij settled his electricity bill online before assuming his new ministerial roles.
Tata Consumer Products Limited (TATACONSUM) (23-10-2024)
Q2 FY25 P&L Performance Summary
- Consolidated revenue grew 13% year-over-year (YoY) to Rs 4,214 crores, with a 12% increase in constant currency terms. The India business, comprising 70% of total branded business revenue, grew 15% overall but only 2% organically. This suggests that growth in the India business was primarily driven by acquisitions.
- Group net profit (GNP) before exceptional items grew 3% YoY to Rs 388 crores. This is a slower growth rate than the 11% YoY increase in EBITDA to Rs 629 crores. The slower growth in net profit is attributed to higher interest costs and amortization due to recent acquisitions.
- Profitability in the international business (29% of branded revenue) improved significantly, with profit growing 53% YoY. Growth businesses, excluding recent acquisitions, grew organically by 15%.
- EBITDA margin for the quarter contracted 30 basis points to 14.9%, driven by higher input costs in the India tea business. This is a reversal of the 30 basis point margin expansion observed in the first half of the fiscal year.
- Standalone net profit for Q2 FY25 declined 14% YoY to Rs 223 crores. This is likely due to the higher exceptional costs incurred in the quarter.
Overall, the latest quarter results show a mixed picture. While topline growth remains strong, driven by acquisitions and international business performance, profitability has weakened due to margin contraction in the India business.
Deepak Builders’ IPO gets subscribed 41.54 times on last day of offer (23-10-2024)
The initial public offer of engineering and construction company Deepak Builders & Engineers India Ltd received 41.54 times subscription on the last day of the share sale on Wednesday.
The Rs 260 crore share sale got bids for 37,24,76,076 shares against 89,67,061 shares on offer, according to an update on the NSE.
The non-institutional investors part fetched 82.47 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 39.79 times. The portion for Qualified Institutional Buyers (QIBs) attracted 13.91 times subscription.
The Initial Public Offer (IPO) of Deepak Builders & Engineers India Ltd received 4.12 times subscription on the first day of the share sale on Monday.
The IPO has a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares.
The price range for the offer is fixed at Rs 192-203 per share.
Fedex Securities Private Ltd is the book-running lead manager to the offer.
Zen technologies – A micro cap in the defense space! (23-10-2024)
Related article on anti drone systems being developed world wide.
Crude oil may slip to low $60s by 2025-end (23-10-2024)
Crude oil prices could dip to the low $60s by the end of 2025 after rising to $80 a barrel in the last quarter (October-December) of 2024 – up nearly 10 per cent from current levels, suggest analysts at JP Morgan. The main players in West Asia, including Saudi Arabia and the UAE, have a strong incentive to keep the conflict contained, according to the JP Morgan report.
Indiabulls Real Estate Ltd and Embassy Group Scheme of Amalgamation (23-10-2024)
(post deleted by author)