Ipca’s acquisition of Unichem for Rs18 billion (59% stake) has understandably raised capital allocation concerns, given the deal would increase Ipca’s exposure to inherently low-margin, low returns US/Exports business, and company’s India formulations revenue share will also decline from ~45% to ~37% post the deal.
Recommendation: Buy; Target price: Rs 5000
IIFL Capital Services’ CY23 Outlook note mentions that they expect FMCG growth to revive as macro indicators improve. While real wage growth has improved, it is still about zero.
Recommendation: Buy; Target price: Rs 5330
Recommendation: Buy; Target price: Rs 2150
Federal Open Market Committee, the U.S. central bank's rate-setting will meet on May 2-3.
Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT.
ONGC's petrochemicals plans are still in the early stages and haven't been taken to the board yet.
Here are some stocks that may show significant price movement today.
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