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In the 5 weeks prior to the current week, the start-up collections were to the tune of #152 Million, $243 Million, $205 Million, $226 Million, and $150 Million. In the latest week to April 12, 2024, start-ups raised $105 Million across 21 start-up deals, with Sprinto and Neysa dominating the funding story in the week.

India is the world's largest provider of generic medications, accounting for around 20% of worldwide supply.

The scheme if extended for FY25, apart from gas IPPs, can also benefit gas importing / trading companies; assuming PLFs to increase to 30% (vs 14% in FY24), India would need to import additional ~5m MT LNG (25% more); GAIL (transmission + trading), PLNG (imports/trade) can materially gain from such imports; for every 1m MT incremental LNG imported, GAIL/PLNG may see 5-10% EPS upgrade; IEX may also gain from higher exchange volumes.

TCS’ commentary reaffirms analysts of IIFL Capital Services view of only gradual recovery in revenue growth as project completions and lack of new ramp ups beyond large deals weigh on growth. Analysts of IIFL Capital Services largely maintain their EPS/TP, pegged at 25x 2YF EPS, and forecast 8%/12% USD revenue/EPS Cagr over FY24-26. Maintain ADD.

It may not all-out war, but the implications for the Indian economy could be huge.

Avoiding Iranian airspace will lead to longer flight paths, resulting in increased operational costs for carriers and possibly higher airfares for passengers.

Ajay Bijli, Managing Director of PVR Inox, stated that the South market accounts for 33% of their portfolio, with plans to open 40% of new screens in the region in FY25.

Today, manufacturing contributes about 15% of GDP and that must transition to over 20% of GDP if the Indian economy has to transition to $5 Trillion economy in 4 years and $10 Trillion in the next 10 years. Between FY23 and FY30, India’s nominal GDP is expected to more than double to $7 Trillion, while the manufacturing GVA is expected to grow nearly 3-fold.

Despite reduced ownership, LIC investments showed a 59% increase in value in FY24, according to stock exchange statistics.

During the fourth quarter, operating margins increased 150 basis points to 26%, while net margins climbed 100 basis points to 20.3%.