News Overview

Anish Shah, CEO & MD of Mahindra Group, highlighted the project's role in addressing climate change and promoting green operations.

Pursuant to cut in growth expectations for Q4FY24 (Mgmt guides for QoQ drop in sales), including softness in Mobile EMS, analysts of IIFL Capital Services cut FY24 EPS by 7%. Ex-Mobile EMS, revenue is lowered by 4/7% and Ebitda by 8/10%, respectively for FY25/26, given analysts of IIFL Capital Services cautious view on rebound in consumption.

In accordance with RBI regulations, the money will be obtained through external commercial borrowings, including the purchase of US dollar bonds.

In June of last year, both the companies formed a joint venture in India, where they equally contributed $150 million each to offer asset management services.

Chief executive Akshaya Moondra stated that the ₹18,000 Crore follow-on share offer will reduce the government interest to 24%.

In August 2022, the London-based mining conglomerate paid ₹565 Crore for Athena Chhattisgarh Power Ltd to cover its captive power demand.

HDFC Mutual Fund was the largest investor in the share sale, followed by Nippon Life India AMC, Goldman Sachs, and Bandhan Mutual Fund.

All eyes on outlook and revenue conversion of previously won deals.

Analysts of IIFL Capital Services believe FY25 will be a year of normalization in Life as growth should revert to teens while margins would start witnessing stability with an upward bias

Consumers have adopted Ecommerce differently across different categories; E-commerce share for Mobiles stands at 58% but for large household appliances, it is only 17%. In the latter, consumers prefer to go to a physical store to check out the look and feel of the product, discuss warranty and exchange, get priority on installation and so on. In recent times, there is a bit of reverse migration from e-commerce to brick-and-mortar stores in mobiles as well. Analysts of IIFL Capital Services believe that brick-and-mortar organised retail would still grow at ~14% even allowing for some share loss to online platforms.