Auto Sector

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.

Spot gold was unchanged at $1,888.36 an ounce, while U.S. gold futures rose 0.1% to $1,917.70.

A software program that is used by an organization to send text messages to a person's phone is known as an "application-to-person SMS" or "A2P SMS."

Analysts at IIFL Capital Services have re-iterated Century Ply (CPBI) as their top pick.