Auto Sector

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

According to data, the cost of a tonne of benchmark hot-rolled coils (HRC) of steel is between Rs 55,000 and Rs 56,000 before taxes.

There has been a significant increase in working capital (14% share in balance sheet vs 5% in FY19), as regulatory assets rise (Rs 43bn as of FY23); the Ebidta/OCF conversion is 58% (lowest in the industry) and remains an overhang.

Petrol and Diesel prices in cities across India on 25-07-2023

Spot gold was up 0.2% to $1,958.20 per ounce, while U.S. gold futures were down 0.1% at $1,959.90.

With seasonal improvement expected in Alkem’s margins in Q2/Q3FY24 (aided by good monsoons) and Pen-G related margin improvement anticipated from FY25, analysts of IIFL Capital Services expect Alkem’s valuation discount vs peers to narrow.

SCM segmental profit faces a significant decline of 97 % YoY, dropping to Rs 2.23 crore in Q1FY24 from Rs 74.97 crore in the same period last year.

The local currency began trading at 81.71 a dollar, compared to the previous day's close of 81.82.

Investors with very high risk appetite and want to invest for 5 to 7 years in a mutual fund should invest in Kotak Nifty Financial Services Ex-Bank Index Fund.

Healthy performance expected from the company.