Battery maker Exide Industries Ltd on Monday reported a 13.66 per cent decline in consolidated profit after tax at Rs 233.4 crore in the September quarter, impacted by higher expenses.
Posts tagged All News
Gold prices steady ahead of US election, Fed interest rate decision (04-11-2024)
Spot gold held its ground to stand at $2,734.79 an ounce at 0831 GMT, having hit a record high of $2,790.15 last Thursday
Fitch affirms IIFL Finance’s rating after RBI lifts ban on gold-loan business (04-11-2024)
Fitch Ratings on Monday affirmed IIFL Finance’s ratings with a stable outlook, saying that after the lifting of the ban on new gold-backed lending imposed by the Reserve Bank of India (RBI), the firm’s franchise will gradually stabilise. The RBI in September, had lifted regulatory restrictions it had imposed in March on IIFL Finance’s gold-backed lending business.
Tube Investments ends lower after Q2 PAT drops over 18% YoY even as revenue rises (04-11-2024)
Tube Investments of India slipped 3.08% to Rs 4323.70 after the company reported 18.63% fall in consolidated net profit to Rs 299.77 crore despite a 14.37% increase in total income from operations to Rs 4,924.55 crore in Q2 FY25 over Q2 FY24.
Nifty settles below 24,000; Sensex slumps 942 pts; VIX rallies 5% (04-11-2024)
As per provisional closing data, the barometer index, the S&P BSE Sensex, tanked 941.88 points or 1.18% to 78,782.24. The Nifty 50 index dropped 309 points or 1.27% to 23,995.35.
Sugar Cycles: 7-8 years of losses followed by 2-3 years of super gains! (04-11-2024)
Ethanol Prices are much lower than Petrol. These are rates at which Energy companies buy ethanol from Mills
The way I view this is Ethanol provides a cushion for Sugar Mills as it helps reduce the volatility of sugar pricing. However, will provide no cushion against a weak crop. Revenue from ethanol is rising fast because of smaller base and we are still halfway to our E20 target.
Also Attaching link for Quarterly presentation.
71c464ec-8ffd-4665-a1fe-1b408b53a074.pdf (bseindia.com)
Mahanagar Gas Ltd – a natural monopoly (04-11-2024)
Q2 FY25 Earnings Conference Call
- MGL has to manage sourcing the natural gas through different medium and pass on the cost to consumers. will the demand be the same if the price is hiked?
As I assumed about Sourcing the Gas through other medium for the deallocation of 20% APM will be matched, confirmed by the MGL management during the Q2 FY25 Earnings Conference call.
Also, the volume growth is at 7% Year on Year, Half Yearly.
- MGL has to manage sourcing the natural gas & absorb the cost impacts, which leads to reduction margin eventually. but does this change the demand for PNG & CNG over the long run?
Based on the earnings conference call notes, the MGL management is not going to hike the gas price in the near term. Instead, they will try to improve the operational efficiency & midterm contracts for gas sourcing.
Future Plans:
On October 7 this year, MGL has entered an indicative and nonbinding term sheet with
International Battery Company USA for setting up an EV battery cell manufacturing facility in
India under proposed joint venture company, which is called International Battery Company
Private Limited. The plant initial capacity is 1 GWh, which will be developed in 2 phases of 500
MWh each. The proposed equity investment by MGL in the range of INR385 crores in this joint
venture with the equity stake of approximately 40%.
ACME Solar aims to garner Rs 2,900-cr via IPO; fixes price band at Rs 275-289/share (04-11-2024)
Renewable energy firm ACME Solar Holdings Ltd on Monday said it has fixed a price band of Rs 275 to Rs 289 per share for its Rs 2,900 crore initial public offering (IPO). The issue would open on November 6 and conclude on November 8.