Auto Sector

Evergraph Holdings is expected to sell 29.53% of its total 34.15% investment in the company on Tuesday, according to CNBC-TV18, which cited sources.

SBILI is compliant with all the recent regulatory changes (e.g. EoM), and does not have exposure to tax claims (e.g. GST). Hence, SBILI may benefit from market-share gains as some of the Private players struggle to align with the regulations.

Analysts of IIFL Capital Services forecast USD Revenue/EPS Cagr of 16%/15% over FY23-26. Given the improving demand environment and receding risks from SWC integration, they increase their target multiple to 26x (was 25x) and roll forward leading to their 12-month TP of Rs4,000 (was Rs3,700).

Ebit margin (ex-bullion) contracted by 150bps YoY (ex-one off in base). However, demand trends were robust in July; the company is bullish about prospects in Q2, supported by higher studded ratio.

The statement claims that the contract was signed at the NHPC corporate office by General Manager (Civil) Dibang and Executive Director, RITES, in the presence of Biswajit Basu, Director (Projects).

Volume growth across most Auto segments was muted in July 2023 as PV sales growth grew by 2.6% YoY. 2W sales saw a 7.2% YoY contraction in July.

In conversation with Sheetal Agarwal of IIFL, Managing Director of the IPO-bound company talks about the company’s journey so far, its strengths and the road ahead.

Brent crude was trading 10 cents higher at $84.56 per barrel and U.S. West Texas Intermediate crude was up 9 cents at $80.81 per barrel.

In conversation with Sheetal Agarwal of IIFL, the fund manager talks about his investment approach as well as the latest NFO from their AMC – Nippon India Innovation Fund.

Spot gold was holding steady at $1,894.91 per ounce, holding above last week's five-month low of $1,883.70. To $1,923.90, U.S. gold futures saw a 0.1% increase.