Auto Sector

Operational revenue increased 20% year over year (YoY) to Rs 7,218 crore during the reporting quarter.

Healthy performance expected from the company.

Recommendation: Add; Target Price: Rs 1260

This partnership intends to hasten the use and acceptance of DTx in cardiology in India.

The Indian government has been cautious about Chinese investments following deadly border clashes.

New store openings however slowed to 40 compared to 50 last year. Non-foods revenue per store saw the highest acceleration in YoY growth to 22% YoY from 12% in FY22, while general merchandise & apparel (GM&A) revenue per store growth fell marginally to 13.2% from 14.2% in FY22.

Vedanta had previously stated that it was awaiting government clearance for incentives under a modified semiconductor production plan in order to start building a factory in Gujarat

Brent futures were up 7 cents at $82.81 a barrel, while WTI crude in the United States was up 11 cents at $78.85.

The ONDC was established last year with the goal of providing merchants and small companies with access to the technologies and processes used by major e-commerce platforms.

Ramkrishna Forgings also acquires Mal Auto Products Private Limited for Rs 7 crore.