News Overview

Recommendation: Buy; Target price: Rs 300

This negative sentiment extended to the broader markets for the second consecutive session.

On the sectoral front, Nifty Bank and Auto slipped over 1% today.

The project is expected to be completed within 30 months from the date of the Letter of Intent, with a target completion date of January 2026.

The primary factor contributing to the lower sales was a significant 15% drop in two-wheeler dispatches

The company sold 3,91,310 units in July 2023, compared to 4,45,580 units last year.

July sales rose 32 % year-on-year to 73,117 units.

The 200 MW and 150 MW solar projects are estimated to be operational by mid-2025.

The company's net profit increased to Rs 726 crore, up from Rs 566 crore in the year-ago period.

On FY24 growth expectations, Anup Bagchi said “If you look at month-on-month growth, our May and June were better than April. For the quarter there was a little bit of compression on the margin and the APE. So that led to a little bit of compression on VNB.”