Auto Sector

The proceeds from the new equity issuance will be utilized to partially or fully repay debt and for general corporate purposes.

ONGC stated, "We are embracing challenges, protecting interests, & fostering partnerships."

Analysts at IIFL Capital Services have reiterated ICRA as their top pick, while CARE is the dark horse.

In Q1FY24, bulk chemicals reported weak performance, on the back of steep decline in key product prices. Soda ash was an exemption as global prices stayed firm, while domestic prices were under pressure.

According to a CCI order, the transaction under review involved Axis Bank purchasing a 9.91% share in CSC e-Governance, and it was concluded in November 2020.

Analysts at IIFL Capital Services prefer DLF and Brigade Enterprises in the sector.

While JIO used to enjoy ~35% lower network cost per tower (including RoU depreciation + lease finance cost) vs Bharti three years back, this gap has now narrowed to ~10%.

Its transmission and distribution (T&D) division won a 380 KV overhead transmission contract.

Contrary to economists' predictions, China decreased its benchmark lending rate for one year by 10 basis points and left its five-year rate constant.

Analysts of IIFL Capital Services do not expect JFS to focus on mortgages over the medium term. Given the relative under penetration, JFS’s entry may not be disruptive for other players’ growth prospects.