India’s growth is shining. Gross domestic product (GDP) growth soared to a four-quarter high of 7.8% year-on-year in the three months ended June (Q1FY24). This is better than some economists’ expectations but lower than the Reserve Bank of India’s (RBI) projection of 8%. What stands out is that the twoRead More →
Apollo Hospitals Enterprise Ltd’s performance for the quarter ending June (Q1FY24) was broadly in line with expectations. Consolidated revenue grew 16% year-on-year to ₹4,418 crore. Apollo’s mainstay hospitals business saw 13% growth. The other segme-nts, Apollo Health and Lifestyle Ltd (AHLL) and Apollo HealthCo continued to improve. But there isRead More →
Adhesives maker Pidilite Industries Ltd continues to increase its grip on gross margins. In fact, at 49% in the June quarter (Q1FY24) consolidated gross margin hit an eight-quarter high and expanded sharply by over 700 basis points year-on-year. Easing raw material prices and operational efficiencies are reasons behind the ongoingRead More →
State-run Bharat Heavy Electricals Ltd (BHEL) results for three months ended June (Q1FY24) are far from inspiring. Dismal operating performance led to wider losses. Loss at Ebitda level stood at ₹364 crore last quarter, up from ₹170 crore in Q1FY23, hurt by higher operating expenses and elevated provisions. This comesRead More →
Zomato Ltd clocking its first ever consolidated net profit in the June quarter (Q1FY24) is a milestone. In response, shares of the online food delivery company jumped by 10% on Friday. Zomato had earlier guided that it would turn net profit by Q4FY24. While it is true that Zomato hasRead More →
ACC share price rose more than 1% on Friday after the company reported robust Q1 results with net profit doubling during the quarter. ACC shares gained as much as 1.72% to ₹1,972.00 apiece on the BSE. The Adani group cement manufacturing company ACC Ltd posted a net profit of ₹466.14Read More →
There’s been no respite since SRF Ltd’s lacklustre performance across business segments in the June quarter (Q1FY24). Since its financial results were announced, the stock fell 2%, contributing to cumulative decline of 5.5% so far in 2023. In Q1, the company’s consolidated revenue, at ₹3,338 crore, fell by 14% fromRead More →
ICICI Bank Ltd’s better-than-expected results for the three months ended June (Q1FY24), announced on Saturday, are likely to support the stock’s near-term show. Shares of the private sector lender hit a new 52-week high on Monday after its profit after tax for the quarter grew by 40% year-on-year (y-o-y) toRead More →
Reliance Industries Ltd (RIL) share price declined over a percent on Friday ahead of the announcement of June quarter results later today. The stock price fell as much as 1.59% to a low of ₹2,578.10 apiece on the BSE. Reliance Q1 results are expected to be weak on the backRead More →
Domestic frontline indices Sensex and Nifty settled at their fresh record closing highs in the previous session over gains led by shares of IT majors, such as Infosys and TCS. Positive global cues, amid expectations that the US Federal Reserve may pause rate hikes after July, also gave a fillipRead More →
