News Overview

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

Nifty saw an 8% QoQ PAT growth — and assuming no growth for the rest of the year, analysts of IIFL Capital Services get to 25% YoY PAT growth for FY24.

According to Sanjay Varma of Reuters, MRPL intends to increase the number of its retail locations in southern India from the current 71 to 1800 by 2027.

The agreements involve a 200 MW solar project in Punjab and a larger 1,000 MW solar project anywhere in India

The month of July 2023 marked the fourth consecutive month that the WPI inflation has been in the negative.