Auto Sector

The company has set the price band for its proposed initial public offer at Rs 140 to Rs 148 per equity share. Investors have the option to bid for a minimum of 100 Equity Shares and in multiples of 100 Equity Shares thereafter.

With price erosion expected to hold steady at high single-digits and Alembic targeting 60 70 new product launches from the US plants, mgmt is hopeful of achieving its earlier US revenue target of USD400mn in FY26/27 (vs USD200mn reported in FY23).

In June, China imported 1.6 mbd of seaborne Russian oil, an increase of 12% over May, and Europe purchased 0.42 mbd, a 28% increase over May.

Analysts of IIFL Capital Services expect Zydus’ US sales to grow 10% cc in FY24 driven by scale up in Revlimid from USD70m in FY23 to USD160m in FY24

Reversal of pre-buy impact in Jan-Mar (related to BS-VI Phase 2) had led to weak volumes in Apr-May. LCV industry declined 3% YoY, which is a continuation of weak trend in recent months.

Employees have been informed of the new structure in order to ensure that their roles and responsibilities are clear and transparent.

The government and ONGC, which own 51% and 49% of Pawan Hans, jointly own the business.

JM hopes to raise up to Rs 1,500 crore for the fund's final closing, including co-investments. As a sponsor pledge to the fund, the group has contributed 10% of the capital.

The company is likely to announce its allotment on July 5 as the issue closes on June 30, rather than previous closing date of June 29.

According to the report, "the cement capacity is expected to increase by 6% in FY2024, the highest addition in the last five years."