News Overview

Recommendation: Buy; Target price: Rs 500

The family settlement agreement dates back from 2016, and there has been no change in management or control of the company as of now.

Punjab & Sind Bank managing director Swarup Kumar Saha said the bank also plans to open 50 more branches during the current fiscal year, bringing the overall network above 1,600.

Recommendation: Add; Target price: Rs 800

ITC reported Q1FY24 results ahead of analysts of IIFL Capital Services expectations. While the overall sales declined 6% and missed their estimates on account of lower Paperboard and Agri sales, Ebitda / PAT growth at 10%/16% were in line with / ahead of their estimates. Cigarette volumes grew 8% — in-line — with a further 150bps contributed by pricing and mix each. For Cigarettes, Ebit […]

According to Ashok Leyland in a regulatory filing, OHM is now a wholly owned subsidiary of the business as a result of the transaction.

Subhash Chandra and Punit Goenka will not hold any directorship posts in any Essel Group entities up till the probe is finished, the regulator said.

The offer floor price is fixed at Rs 2,400 per share.

Analysts of IIFL Capital Services  have seen minor increase in their Ebitda estimates for coverage – 2% in FY25; as sharp uptick in Ambuja Cement has been offset by minor cuts due to gradual profitability built in for others.

The company plans to establish two green-field O2C (oil-to-chemical) plants within India