Auto Sector

Paytm reported a consolidated net loss of Rs 357 crore, a dramatic decrease from a loss of Rs 6,444 crore in the same time last year, when it released its April-June quarter results for fiscal 2023–24 (Q1FY24) last month.

The increase in ownership occurs at the same time as US-based boutique investment firm GQG Partners has begun purchasing Adani group companies' stock.

Backed by prominent investors like Ashish Kacholia and others, Aeroflex seeks to acquire Rs 351 crore at the upper price range of Rs 108.

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.