Higher product prices have hurt volume growth, underscoring the challenge even urban-focused companies face in managing the sales growth-margin tradeoff
Hindalco’s aluminium rolling business Novelis had a lukewarm December quarter. But, Jefferies analyst Nitij Mangal observed some silver linings, which could bode well for Novelis, as well as Hindalco
The third quarter was marked by high commodity prices, elevated inflation, delayed kharif (monsoon) crop harvesting due to unseasonal rains and global central banks signalling monetary policy tightening.
The company reported a consolidated profit of Rs 302.97 crore in the quarter, down from Rs 329.32 crore a year ago.
Operating EBITDA margin declined sharply to 17.12% in the quarter from 20.43% a quarter ago and 20.97% a year ago.
Net interest income, a measure of how much money the bank makes from lending, was down 31% and other income declined 32% year on year
Cost of material consumed surged over 24% to Rs 1513.72 crore. Ebitda margin stood at 5.9%, a contraction of 327 basis points quarter on quarter.
Experts are of the view that big opportunities will arise from the banking, infrastructure and industrial sectors. HDFC Bank, ICICI Bank and Infosys among top bets
A sharp demand recovery, opening up of the economy, reduced number of COVID-19 cases and cost-saving initiatives by companies were the key reasons for earnings beats and upgrades, according to brokerage reports
Metals, cement, healthcare and consumer durables are expected to drive 3QFY21 earnings. Consumer, private banks, automobiles and NBFCs are likely to post flat numbers.
We expect Nifty earnings to grow by 39 percent and 20 percent in FY22E and FY23E, respectively. The NIFTY50 is trading at 20x FY22E earnings, which is ~13 percent premium to its historical valuation.
Year 2021 is set to begin on a positive note with the equity market soaring to a new high. The market rally is fuelled by a strong economic recovery, supportive monetary policy, and easing of active COVID cases.
Among the top 500 companies, over 20 companies turned loss-making in the December quarter, data from AceEquity showed
Stocks in the BSE 500 index that showed signs of a turnaround include Axis Bank, Bajaj Electricals and BEML
The December quarter earnings were largely in-line as the number of beats (16) and miss (17) are equally balanced in the NIFTY50 index.
Corporate tax rate cuts continued supporting earnings growth. BFSI and Consumer drove the earnings, while Metals dragged the aggregates.
The December quarter has ended the drought which India Inc. saw for the past many quarters. One of the factors which could have continued is the corporate tax cut.
Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 5 point loss or 0.04 percent. The Nifty futures were trading around 12,224-level on the Singaporean Exchange.
Going forward, market would take cues from the last leg of earnings season and global developments on the Coronavirus outbreak.
Investors will watch out the outcome of Delhi polls result and CPI inflation data for January as well as IIP data for December.
Trends on SGX Nifty indicate a flat opening in India, with a loss of 5 points, or 0.04 percent. The Nifty futures were trading around 12,124-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a negative opening in India, with a 21 points, or 0.18 percent, loss
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 20 points loss or 0.17 percent. The Nifty futures were trading around 11,952-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a positive opening for the index in India, with a 45 points, or 0.39 percent, gain
Trends on SGX Nifty indicate a positive opening for the index in India, with a 22 points, or 0.18 percent, gain