SAPPHIRE FOODS INDIA LTD Q4 RESULTS
Ahead of Market: 10 things that will decide stock market action on Thursday
The Indian market closed flat on Tuesday, ahead of the Christmas holiday, with gains in FMCG and auto stocks being offset by losses in metal and power stocks. Analysts predict range-bound movement due to economic concerns, Q3 results, and the upcoming Union budget, amidst mixed global market performances.
NCLAT sets aside plea filed against NCLT order approving sale of Reliance Broadcast Network
The NCLAT upheld the NCLT order approving Sapphire Media's resolution plan for Reliance Broadcast Network Ltd. Despite challenges from other bidders citing irregularities, NCLAT found the process compliant with regulations. Sapphire Media's bid of Rs 261 crore was approved by CoC, overcoming both Abhijit Realtors' and Creative Channel Advertising's attempts.
Accenture quarterly numbers point to strong GenAI prospects
Accenture's latest earnings boost Indian IT sector outlook. GenAI bookings hit a record high. North American demand shows signs of recovery. The company raised its FY25 growth forecast. Indian IT firms expect strong Q3 results and a robust FY26. Accenture's hiring continues to grow, mostly in India.
These mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos can rally over 25%, according to analysts
The Nifty and Sensex are correcting. A closer look, however, reveals that the correction is not as strong as it could have been. It has to be seen in the context that, at this time of the year, markets anyway tend to be more volatile. But the correction is not leading to strong across-the-board weakness. Even on days when market breadth is negative, the ratio is still better. At this point, there is a high probability that, given there are no global hiccups, this phase of correction will pass without major damage to mid-caps stocks as a segment.ET Screener, powered by Refinitiv’s Stock Report Plus, lists quality stocks with high upside potential over the next 12 months, and having an average recommendation rating of “Buy” or "Strong Buy". This predefined screener is only available to ET Prime users.
Zomato, Swiggy shares in focus as GST council considers cutting food delivery GST to 5%
Shares of Zomato and Swiggy are likely to remain in focus due to the GST Council's potential tax cut on food delivery charges by e-commerce platforms to 5%, effective from January 2024. Zomato's shares closed 2% higher, while Swiggy's surged 11.7%.
Swiggy shares climb 7% after Q2 results. Should you buy, sell or hold?
Swiggy share price: Swiggy shares climbed following strong Q2 FY25 revenue growth, despite a reported loss of Rs 625.53 crore. Innovations like Bolt for 10-minute food delivery and Instamart expansion contributed to a 30% YoY increase in gross order value, with strong broker expectations for future growth in food delivery and quick commerce.
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Swiggy shares jump 9.4%, market cap hits Rs 1.14 lakh crore ahead of Q2 results
On Monday, when Swiggy had announced the expansion of its 10-minute food delivery service, Bolt, to over 400 cities and towns across India, its shares had closed 5% up. For the June quarter, the company reported operating revenue of Rs 3,222 crore while its net loss widened to Rs 611 crore from Rs 564 crore a year earlier.
Swiggy shares rally over 9% ahead of first Q2 results after listing
Swiggy Q2 results: Swiggy shares rose 9.4% to Rs 542.10 on the BSE. The company will release its Q2 financial results today. Swiggy's IPO had significant subscriptions and showed good investor interest. The company has faced net losses since inception but saw revenue double in FY24. In Q1, Swiggy reported a loss of Rs 611.01 crore compared to the same period last year.
India Inc.'s Q2 results review: How different sectors of BSE 500 index fared in the second quarter of 2024-25
Data compiled from an Emkay report shows that the aggregate adjusted PAT growth of BSE 500 companies declined by 0.5% year-on-year. Comparatively, the earnings growth was 3.2% in the June 2024 quarter and 41.6% year-on-year in the corresponding period of the previous year. The performance deteriorates further if the financial sector companies are excluded as the adjusted net profit growth contracts to 9.8% year-on-year. The energy sector significantly dragged the overall earnings growth whereas healthcare and industrial sectors provided support.
Knives out: Small F&B vendors feel the squeeze as restaurants see dip in margins
A lower growth in revenue for leading restaurant outlets has led to a trickle-down effect for small and mid-scale vendors servicing them with a range of items.
IT cos' Q2FY25 results ahead of estimates. Infosys, LTIMindtree among 9 brokerage buys
Indian technology companies exceeded their Q2 earnings forecasts, but their future guidance remained cautious. While some brokerages observed a potential bottoming out of pessimism, clear signs of increased spending in developed countries are still pending. Stocks like Infosys, TCS, and HCL Tech are among the top picks for many brokerages.
India's pharma sector registers strong Q2 FY25 growth, driven by North America market: Report
The major pharmaceutical companies of the country reported a 10 per cent year-on-year (YoY) growth in the second quarter of FY25, largely driven by strong performance in North America and the domestic market, according to a report by Axis Securities.
India Inc's interest cover weakens with slipping top & bottom lines
Indian companies faced a decline in interest coverage ratio to 4.8% in the September quarter. This was due to rising interest costs and slower growth in operating profit. Interest costs surged by 7.2% year-on-year, while revenue growth slowed down to 4.9%. Higher working capital requirements and increased borrowings further impacted the ratio.
Indian economy’s road to recovery? Private consumption driving domestic demand again, says RBI
The Reserve Bank of India's latest bulletin highlights that India's economic slowdown in Q2 of 2024-25 has eased, with private consumption driving domestic demand, especially boosted by festival spending in Q3. Despite global economic resilience, the RBI noted challenges such as rising protectionism and fragile confidence.
Macquarie raises Zomato target prices but remains bearish
Macquarie raises Zomato's target price to Rs 130 but maintains an 'underperform' rating due to growth risks. Zomato's competitor Swiggy also attracts mixed ratings from brokerages.
NMDC shares slip 4% even as co announces 2:1 bonus issue, reports 23% YoY jump in PAT
NMDC shares fell 4.2% despite a strong Q2 performance and a 2:1 bonus share announcement. Revenue grew 19.7%, while profit rose 23% YoY. Motilal Oswal maintains a buy rating with a Rs 280 target.
SBI Q2 Results Preview: NII may grow at 4-9% YoY on healthy loan growth
State Bank of India is predicted to post single-digit net interest income growth for the September quarter, fueled by loan growth but tempered by deposit costs. Brokerage estimates project net profit to range between Rs 12,894 crore and Rs 18,712 crore, with varying outlooks on year-on-year and sequential changes.
AkzoNobel India Q2 Results: PAT rises 4% to Rs 97 crore; Rs 70 per share dividend announced
AkzoNobel India reported a 4% YoY increase in PAT to Rs 97.9 crore and a 3% rise in revenue to Rs 982.3 crore, despite rising raw material costs. The company declared a Rs 70 interim dividend and is exploring strategic options in the Indian market.
Emami Q2 Results: Standalone profit rises 31% to Rs 214 crore, revenue up 1.1%
Emami Ltd reported a 31% YoY increase in Q2 net profit to Rs 214.1 crore, despite subdued demand. Revenue grew 1.1% to Rs 709 crore, with domestic sales rising 2.6%. High food inflation and global disruptions impacted performance.
NHPC Q2 results: PAT falls 41% YoY to Rs 909 crore, revenue up 4%
NHPC Ltd reported a 41% YoY decline in net profit to Rs 909 crore for Q2 FY24, compared to Rs 1546 crore last year. Revenue rose 4% to Rs 3052 crore, while EBITDA grew 2%, with improved margins of 58.9%.
Q2 results today: L&T, Dabur among 77 companies to announce earnings on Wednesday
L&T, Tata Power, and Dabur are key among 77 companies declaring Q2 earnings today. L&T's revenue is expected to rise by 16%, while Dabur may see a 5% year-on-year drop in revenue due to volume declines and distributor inventory corrections. Heavy rains impacted Dabur's out-of-home consumption.
Indian Oil Q2 Results: PAT plummets 99% YoY to Rs 180 crore; revenue falls 4%
Indian Oil Q2 Results: Revenue from operations declined 4% year-on-year (YoY) to Rs 1.95 lakh crore in the reporting quarter, down from Rs 2.02 lakh crore a year ago.
Bikaji Foods shares surge 10% post Q2 results, profit after tax up by 14.7%
Bikaji Foods shares rose 10% after Q2 results showed 18.5% revenue growth and 15% profit increase, driven by strong demand in ethnic snacks and packaged sweets during the festive season.
LT Foods Q2 Results: Profit dips 4% on higher costs despite revenue growth
LT Foods, owner of basmati rice brands Daawat and Royal, on Thursday reported a 4.22 per cent drop in net profit for the September 2024 quarter as higher expenses offset revenue growth amid global shipping disruptions. The company's consolidated net profit fell to Rs 150.61 crore in the second quarter ended September 30 from Rs 157.26 crore a year earlier, according to a regulatory filing.
Q2 results today: ITC, Adani Wilmar among 114 companies to announce earnings on Thursday
Today, 114 companies, including ITC, IndusInd Bank, and Godrej Consumer, will announce their second-quarter earnings for July-September 2024. ITC is expected to see modest growth in revenue and profit, while IndusInd Bank may see a slight dip in net profit despite some growth in net interest income.
Zomato shares in focus after Q2 profit misses estimates
Zomato Share Price: Zomato's second-quarter profit surged 389% YoY to Rs 176 crore, below market estimates. Revenue climbed 68% to Rs 4,799 crore driven by food delivery margins and quick commerce business. Despite improvements, Blinkit’s EBITDA remains negative due to infrastructure investments.
Nestle India shares dip 4% after reporting marginal fall in Q2 PAT
Nestle India Share Price: Shares of FMCG giant Nestlé India dropped 4% to a low of Rs 2,364.80 on the BSE after the company reported a slight decline in Q2 net profit to Rs 899 crore, down from Rs 908 crore year-on-year, marking a 1% YoY decrease.
Sapphire Foods India Q1 Results: Pizza Hut operator misses profit estimates on weak demand, surging costs
The Yum Brands franchisee's consolidated net profit fell 68% to Rs 8.52 crore ($1.02 million) for the quarter ended June 30. Analysts, on average, had expected a profit of Rs 17.39 crore according to LSEG data.
Sapphire Foods Q4 Results: PAT plunges 98% YoY to Rs 2 crore; revenue jumps 13%
This was the company’s biggest profit fall since listing as inflation-weary customers continued to cut back on dining out and ordering in
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