11843 stories by IPA Staff
Bengal’s Bitter Campaigning Ends Today
It will be curtains for the bitter West Bengal campaign on Monday, which saw chief minister Mamata Banerjee rallying around the state in a wheelchair for the last 44 days while BJP brought in all its big guns from Delhi led by Prime Minister Narendra Modi for over 20...
Glenmark Pharma Rating ‘Hold’; subsidiary’s IPO could unlock value for company
However, many unknowns remain for the API business given the recent strong performance was driven by COVID-19-led higher demand and customer stocking to a large extent, in our view. Glenmark Life Sciences (GLS; Glenmark Pharma’s 100% subsidiary for API or active pharmaceuticals ingredients) filed a draft red herring prospectus...
Bajaj Consumer Care Rating ‘Hold’; Results show recovery is underway
Cost optimisation and a favourable base, however, drove Ebitda margin expansion of 1,125bps y-o-y. Bajaj Consumer Care (Bajaj) posted higher-than-expected revenue (up 40.3% y-o-y) and Ebitda (up 157.4% y-o-y) while PAT (up 119.8% y-o-y) came in line. ADHO grew 40% y-o-y each in value and volume terms with larger...
34 Constituencies to Go to Polls in 7th Phase, 284 Candidates in Fray
Over 86 lakh voters in West Bengal will decide the political fate of 284 candidates on Monday, when 34 assembly constituencies, including Chief Minister Mamata Banerjee’s home turf Bhabanipur, go to polls in the seventh phase, amid a raging second wave of COVID-19. Security measures have been heightened in...
Congress Slams Modi Govt over Vaccine Pricing
Terming the new anti-COVID vaccine policy “discriminatory and insensitive”, the Congress on Sunday accused the government of allowing vaccine makers to profiteer to the tune of Rs 1.11 lakh crore. Congress general secretary and chief spokesperson Randeep Surjewala alleged that the government has abdicated its responsibility of providing free...
JP Nadda Hits Out at Mamata Banerjee for ‘Skipping’ PM Modi-CMs Meet on Covid-19 Situation
Manikchak (WB): BJP president J P Nadda on Sunday slammed Bengal Chief Minister Mamata Banerjee for her persistent attacks on the Centre over the prevailing COVID-19 situation, and sought to know why she chose to skip a virtual meeting where Prime Minister Narendra Modi discussed ways to combat the...
4 Congress-ruled States Express Inability to Vaccinate for 18-45 Group: ‘Centre Hijacked Stocks’
Fours states ruled by the Congress and its allies Sunday accused the Centre of “hijacking” vaccine stocks from manufacturers, and expressed doubts they would be able to launch the inoculation drive to cover those between 18-45 years of age from May 1. They also accused the Centre of meting...
TMC Candidate from Khardah Dies From Covid-19, Announces CM Mamata Banerjee
Trinamool Congress Candidate from Khardah Kajal Sinha who was previously found to have contracted the coronavirus breathed his last on Sunday. The news was shared by West Bengal CM Mamata Banerjee on Twitter who was found extending her condolences to the family of the deceased. Very, very sad. Shocked....
Govt Asks Twitter, Other Social Media Platforms to Remove Misleading Posts Around Covid
The government has asked social media platforms, including Twitter and Facebook, to remove content and posts that were found to be spreading misinformation and public panic around the pandemic, according to sources. Twitter said it has notified the impacted account holders of its action taken in response to a...
ICICI Bank shareholders to get Rs 2 per share dividend after stellar 260% jump in profits
ICICI Bank reported a stellar jump in net profit. Private sector lender ICICI Bank today announced a dividend of Rs 2 per equity share. The dividend is subject to shareholder approval. The announcement came along with the quarter results of ICICI Bank where the lender has reported a massive...
Wall Street investors await Tesla, Apple, Amazon earnings along with Biden’s tax proposal next week
The upcoming week would be crucial for investors with the Federal Reserve Meeting on Cards, crucial earnings, and Joe Biden set to address a joint session of Congress during the week. (Image: REUTERS) Wall Street saw a volatile trading week, marred by reports of Joe Biden eyeing a capital...
Rakesh Jhunjhunwala not immune to weak market sentiment; lost Rs 500 crore in three stocks this week
Another Tata group firm, Tata Motors was also seen pulling Rakesh Jhunjhunwala’s wealth lower this week. Even big bull Rakesh Jhunjhunwala was not immune to losses on Dalal Street this week as benchmark indices fell nearly 2% each. The billionaire investor lost Rs 506 crore in just three stocks,...
Sensex, Nifty continue range-bound movement; covid-19 likely to remain an overhang next week
At this juncture, technical analysts have been citing 14,200 as the key support for the Nifty index. (Image: REUTERS) The holiday-shortened week saw Sensex and Nifty continue their range-bound movement. Indices fell on three of the four trading sessions this week and closed 2% down on a weekly basis....
Analyst Corner: Upgrade Hero MotoCorp to ‘add’, Gogoro JV to launch EVs
Hero-branded vehicles would be powered by Gogoro swappable batteries. Hero MotoCorp (HMCL) and Taiwan’s Gogoro Inc. have announced a joint venture to collaborate on development of a battery-swapping network in India based on the latter’s tech platform. Hero-branded vehicles would be powered by Gogoro swappable batteries. Gogoro is a...
Reliance Capital defaults on payment to bondholders
Reliance Capital has been missing monthly interest payment of Rs 4.77 crore to HDFC and Rs 71 lakh to Axis Bank. Reliance Capital has failed to make interest payment for non-convertible debentures (NCDs) due on April 22, as per its disclosure to stock exchanges. Although the quantum of default...
Nestle India Rating ‘Hold’; Results were in line with expectations
The channel witnessed 66% growth y-o-y in Q1CY21 (after 110% growth in CY20) and now contributes 3.8% to domestic revenues. With 10% YoY growth, Nestle’s domestic revenues are in line with our expectations. Slightly better GMs & lower staff costs helped and Op Ebitda growth at 16% is ahead....
Motilal Oswal maintains ‘Buy’ rating on ICICI Securities with TP of Rs 650
Distribution revenue was up 22% YoY to Rs 1.41b (QoQ not strictly comparable due to seasonality). 4QFY21 was another robust quarter in an overall strong year for ISEC. PAT more than doubled YoY to INR3.3b (45% beat), driven by 54% growth in revenue, coupled with significantly lower C/I ratio....
Mindtree Rating ‘Buy’; Solid set of numbers in Q4FY21
Management remains confident of delivering double-digit growth along with Ebitda margin of 20% plus in FY22. Mindtree (MTCL) delivered a solid set of Q4FY21 numbers—revenue grew 5.2% q-o-q to $288.2 mn, in line with our estimate of $289.0 mn. Ebit margin came at 18.6% versus our 19.0% forecast. Net...
