Stock Market Live: Global markets up as ME tensions ease; focus on earnings

In an exchange filing, Puravankara said, “We write to inform you that the company has been unanimously selected as the preferred developer  for redeveloping a residential housing society in Pali Hill, Mumbai.”  READ MORE

The management is targeting a 30 per cent revenue CAGR over the next three years with an improving margin trajectory. Cyient DLM’s RoCE is likely to reach 15 per cent in a couple of years and ~25 per cent over the next five years. The management is expecting an order win in Q1FY25, which will significantly increase the order backlog. The orders will be from existing as well as new logos added during FY24. READ MORE

>> PAT was Rs 360 crore QoQ

>> Ebitda stands at Rs 1,041 crore vs Rs 680 crore QoQ

>> Ebitda margin at 5% vs 3.3% QoQ 

VIL intends to raise around Rs 25,000 crore from the market. If it can utilise the funds to roll out 5G and strengthen its 4G presence (around Rs 12,700 crore is allotted to network capex), the threat of India’s telecom services market turning into a duopoly recedes. Among the other private telecom service providers, Reliance Jio (Jio) did well in FY24 with results in line with consensus, while Bharti Airtel is also estimated to do well (first three quarters have been good). READ MORE

The S&P BSE Sensex has surged 3.1 per cent or 2,244 points from its low of 71,816 touched last week. Its counterpart, the NSE Nifty 50 index has rallied 670 points from its low. Both the indices are around 1.5 per cent shy from their respective all-time highs. READ MORE

Reliance Retail, the retail arm of the conglomerate, plans to expand the product range to include televisions, washing machines, refrigerators, air conditioners, small appliances, and LED bulbs. The company aims to develop and design these products internally, seeking to establish a homegrown brand in a market predominantly controlled by foreign labels. READ MORE

The smallcap index is trading higher for the third straight day and gained 3.3 per cent during the period. The index has surpassed its previous high of 46,821.39 touched on February 7. The smallcap index has recovered 15 per cent from its low of 40,641.67 hit on March 13. READ MORE

“The USFDA conducted an inspection at the Injectable Manufacturing site situated at Jarod, near Vadodara, between April 15 and April 23, 2024. The inspection was closed with 10 observations,” the company said in an exchange filing. READ MORE

Investors have sold Hindustan Unilever and its consumer-giant peers as they found it hard to justify the expensive valuations of the companies amid faltering sales growth. The firm has been facing competition from new-age brands, while lower agricultural yields have sapped demand among its rural customer base. READ MORE

The contract, valued at Rs 611 crore is for supply of LSAW Pipes, Coating and Bends in Latin America.

The net premium income of the insurer increased to Rs 2,549.84 crore, rising 9.89 per cent Y-o-Y over Rs 2,320.35 crore in Q4FY23. The Annualised Premium Equivalent (APE) of the company rose 9.54 per cent Y-o-Y to Rs 3,615 crore from Rs 3,300 crore in Q4FY23. READ MORE

The inspection closed with 10 observations. The company will closely work with the USFDA to address and respond to the observations in an expeditious manner. 

 

Real estate developer, Puravankara, has been appointed as developer for Mumbai’s Pali Hill redevelopment project. 

 

The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, with over 2.15 lakh sq ft available for sale, and a potential Gross Development Value (GDV) of over Rs 2,000 crore, the company said.