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28 Feb

Sanofi India Q4 revenue, EBITDA inflation; ₹117 final dividend recommended

Priyanka RoyBusiness, News

Sanofi India Limited (SIL) reported steady growth in Q4 2024, with revenue growing 9.7% year-on-year (YoY) to ₹514.9 crore, compared to ₹469.2 crore in the same quarter last year. EBITDA grew 18.8% year-on-year to ₹118.3 crore, from ₹99.6 crore. Operating margins also improved to 23%, compared to 21.2% in Q4 2023. However, the company's net profit declined 33.7% to ₹91.3 crore, from ₹137.7 crore a year ago. On the bright side, the board has recommended a final dividend of ₹117 per equity share of ₹10 face value, subject to shareholders' approval at the forthcoming Annual General Meeting. Sanofi India's recent…

27 Feb

Zomato shares will rose 39% as it builds on accelerated commerce leadership, says Bernstein

Priyanka RoyBusiness, News

Brokerage firm Bernstein on Tuesday, February 25, said it is positive on Zomato and has projected a 39.2% upside on the stock from its previous close price. The brokerage has given Zomato an "outperform" rating and a price target of ₹310 per share, slightly higher than its recent peak of ₹304, thereby marking a 27% downside to Monday's close price. Bernstein said the competitive intensity of instant commerce has been a major point of debate given the ongoing land grab and marketing dollars in Zomato and its peers Swiggy and Zepto. However, unlike the pre-IPO mode, the brokerage believes the…

25 Feb

Bharti Airtel shares rose 3% after 6-day decline on 5G partnership with Ericsson

Priyanka RoyBusiness, News

Bharti Airtel shares jumped nearly 3% on the NSE during intraday trade on February 25 to hit ₹1,649.15, snapping a six-day losing streak. The rally came after the telecom giant announced a partnership with Ericsson to deploy 5G core solutions that support its transition to a full-scale 5G standalone (SA) network over time.In an exchange filing, Airtel said, "This collaboration will enable Airtel to seamlessly transition to a commercially live, full-scale 5G standalone network, delivering high-end 5G capabilities to customers."The deal will see Ericsson deploy its signalling controller solutions as well as 5G standalone-enabled charging and policy solutions within Airtel's…

24 Feb

M&M shares gain nearly 2% as Jefferies maintains ‘buy’ call, sees over 50% gain

Priyanka RoyBusiness, News

Shares of Mahindra & Mahindra surged in morning trade on February 24, recovering from a sharp 6 percent drop in the previous session to rise nearly 2 percent to Rs 2,712. The surge came after Jefferies reaffirmed its 'buy' rating, setting a target price that indicates significant upside from current levels. With a price target of Rs 4,075, the international brokerage estimates a staggering 52.6 percent upside potential from the last close of Rs 2,669 on the National Stock Exchange. M&M shares witnessed the biggest single-day fall in nearly 7 months during the previous session. Analysts at Jefferies view the…

22 Feb

JSW Infrastructure shares upsurge 9% after Motilal Oswal picks it as top pick in ports sector

Priyanka RoyBusiness, News

Shares of JSW Infrastructure jumped 9 percent to Rs 260 on February 21 afternoon. It has gained for the second consecutive session after domestic brokerage firm Motilal Oswal picked the stock as a 'top pick' in the ports sector. The brokerage has set a target price of Rs 330, which implies a 39 percent upside potential from its last close price of Rs 238 on the National Stock Exchange. JSW Infrastructure shares have gained 11 percent this week. India's ports sector handles 95 percent of the country's export volume and 70 percent of its export value, with Motilal Oswal forecasting…

21 Feb

Bandhan Bank shares rose 5% after CLSA upgrades stock; see latest target price

Priyanka RoyBusiness, News

Bandhan Bank shares surged 5% in early trade on Friday after global brokerage firm CLSA upgraded the stock to ‘High-Concept Outperform’, estimating a massive upside potential of 61%.CLSA sets a price target of Rs 220 for the stock, supported largely by the lender’s outperformance compared to peers in the current MFI (Micro Finance Institution) cycle. The MFI sector has been grappling with persistent challenges and constraints over the last five-six months, resulting in a significant deterioration in asset quality.Going forward, CLSA believes that the Indian microfinance sector will recover from bad to less bad in a few quarters and from…

19 Feb

Swiggy shares upsurge 7% during intraday

Priyanka RoyBusiness, News

Shares of foodtech giant Swiggy jumped nearly 7% to Rs 370.90 during the intraday trading session on the BSE today (February 19).The surge in its share price coincided with a surge in the broader market. The Sensex is up 0.068% at 76,018.91, while the Nifty is volatile and is trading 0.020% lower at 22,940.65 at 11:11 am.With the surge in Swiggy's share price, its market capitalisation reached Rs 83,576 crore at the time of writing and over 1 crore volumes had been traded by then.The stock has closed in the green in three of the last five sessions. Swiggy had…

18 Feb

Gold imports inflation over 40% to $2.68 billion in January

Priyanka RoyBusiness, News

Overall, imports rose 32 percent to USD 50 billion from April to January this fiscal, as against USD 37.85 billion in the same period last fiscal. The rise in imports also reflects strong investor confidence in the precious metal as a safe-haven asset. Additional factors include asset diversification in gold amid global uncertainties, rising demand from banks and reduction in customs duty. The price of the yellow metal has risen 11 percent this year, reaching Rs 88,200 for every 10 grams in the national capital. India's gold imports, impacting the country's current account deficit (CAD), rose 30 percent to USD…

17 Feb

GlaxoSmithKline Pharma Q3FY25: Net profit jump 400% to Rs 228.58 crore

Priyanka RoyBusiness, News

GlaxoSmithKline (GSK) Pharmaceuticals on Friday announced a 402 per cent year-on-year (Y-o-Y) increase in consolidated net profit for the December quarter (Q3 FY25) to Rs 228.58 crore, up from Rs 45.49 crore in the same period last year. The company’s revenue from operations rose to Rs 946.36 crore, a 17.5 per cent Y-o-Y increase from Rs 804.98 crore in Q3 FY24. Sequentially, the company’s net profit fell 8.08 per cent, whereas revenue declined 5.4 per cent, from Rs 248.68 crore and Rs 1,000.05 crore, respectively, reported in Q2 FY25. The performance is attributed to the company's strong growth across key product portfolios. GSK…

15 Feb

Easy Trip Q3 results | Net profit, margins drop despite 172% gain in hotel bookings

Priyanka RoyBusiness, News

Online travel service provider Easy Trip Planners Ltd on Friday (February 14) reported a 26.3% year-on-year (YoY) decline in net profit for the third quarter ended December 31, 2024, to ₹45.6 crore from the same quarter in FY24. Revenue from operations declined 6.5% to ₹150.5 crore as against ₹160.9 crore in the same period last fiscal. At the operational level, EBITDA (earnings before interest, tax, depreciation and amortization) declined 21.8% YoY to ₹47.7 crore from ₹61 crore in Q3FY25, while EBITDA margin declined to 31.7% from 37.9% in the same quarter last fiscal. For the nine months ended December 31,…