News Overview

The 20.76% yoy growth in mutual fund folios in February 2024, is the best show in the last one year.

Recovery in volumes post destocking for beverage cans, fall in energy costs and strength in auto sheets have driven steady uptick in Ebitda/t and Q4 is expected at long time guidance of US$525/t.

GMs in Q2-Q3FY24 were favourably impacted by mix and input prices while CPCB4+ was not margin dilutive, reinforcing its targeted GM range of 34-35%. KKC guides operating leverage to be a larger driver of OPM over the medium-term given rated capacity utilisation of 65% levels (90% of manned capacity).

Sheetal Agarwal of IIFL in conversation with management of the IPO bound company. Edited Excerpts:

According to the company's exchange statement, the order is projected to be implemented in about three years, with a total cost of ₹543 Crore.

AstraZeneca's revenue for the nine months ending December 31, 2023, increased by over 28% year on year to ₹939 Crore. Innovative compounds such as Tagrisso (osimertinib) for lung cancer, Lynparza (olaparib) for ovarian cancer, Imfinzi (durvalumab), Fasenra (benralizumab) for asthma, and Calquence (acalabrutinib) for lymphoma drove growth.

Sun Pharmaceutical Industries Inc is recalling 47,520 bottles (40mg) and 7,488 bottles (80 mg) of the drug owing to deviations from Current Good Manufacturing Practice requirements (CGMP), the company noted. The USFDA reported microbial contamination in standing water within the duct of the manufacturing equipment," the regulatory body highlighted.

Ashish Sehgal, the company's chief growth officer for ad revenue, will report directly to Goenka following Rahul Johri's resignation as revenue and monetisation vertical head. In keeping with the new lateral structure, Sehgal will now collaborate closely with Goenka to optimise value for advertising. All other Johri reportees will report to Goenka's office.

The stocks affected by the F&O ban are Manappuram Finance, Mahanagar Gas, SAIL, Tata Chemicals, and ZEEL.

According to figures released last Friday, non-farm payrolls climbed by 275,000 jobs last month, exceeding economists' projections of 200,000 job increases.