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The company faced challenges with lower GRMs impacting profitability.

The rupee weakened on the back of dollar stability but higher India CAD expectations

For the second week in a row, the story was all about the large caps, as mid-caps saw deep cuts in the week

The full Union Budget 2024-24 on 23-July is likely to set the tone for the markets in the coming week

The business intends to use the net funds from the new offering to develop its Dhule plant, repay debt, and for other general corporate reasons.

In an election year, the Indian government presents an Interim Budget for immediate spending approval and a full Budget post-elections. The 2024-25 Interim Budget was Rs 47.66 lakh crore with a fiscal deficit target of 5.1% of GDP. Economic growth and higher dividends from the RBI may allow for increased spending in the full Budget without breaching the fiscal deficit target. This balancing act is crucial for maintaining India's investment-grade credit rating and supporting long-term growth through increased capital expenditure. The full Budget will reflect updated political, economic, and financial priorities.

FPIs net bought $1,845 Million in the week to July 19th, taking the equity infusion over last 6 weeks to $8.65 Billion

The company plans to introduce the VIDA electric scooter to international markets, building on its success in India, as noted by Executive Chairman Pawan Munjal.

The flat net profit and modest revenue growth reflect the tough operating environment during the quarter.

Indian markets are expected to open lower today due to pre-budget jitters and profit booking after recent gains.