AXY Financial News

cement producers in the September quarter, with average profitability of the industry seen surging by at least 50% compared to the previous year, said analysts. Also Read: Orient promoter CK Birla taps Adani for cement business sale While operating margins are seen lower on a sequential basis due to weak seasonality, they could rise by as much as 400 600 basis points on an average year-on-year, with ACC and Ambuja Cements clocking in the best improvement. “ACC and Ambuja would witness higher EBITDA expansion due to low base while we expect Ultratech, Shree Cement and Dalmia Bharat to see a margin expansion in the range of ₹212-250/t,” Systematix Institutional Equities said. Spending by a few key states ahead of their elections this year, and the impending elections at the Centre has kept the demand for cement robust with an estimated year-on-year growth of 12-14%, they said. Market leader Ultratech Cement has seen a 16% year-on-year growth in its consolidated sales in the September quarter, with volumes of 26.69 million tonnes. “Institutional demand was more robust, driven by increasing construction activity in most regions. In addition, both central and state government infrastructure projects executed well,” Axis Securities said in a pre-ear nings note. The cost of power and fuel, meanwhile, is seen lower by around ₹100-150 per tonne as compared to the previous quarter.

UPI payments have grown by leaps and bounds in the last few years. But paying with a bank account does not have any benefits for credit card enthusiasts. This has changed now as RBI and NPCI have enabled Rupay credit cards for UPI payments. Soon, we will be able to use Rupay credit cards for UPI QR codes. 

Sony Group Corp's India unit and Zee Entertainment Enterprises Limited (ZEEL) expect to close the pending merger deal — billed as one of the biggest in the country's media industry — as early as next month, multiple people familiar with the progress of the proposed transaction told ET. One of the sources said that despite financial institutions and lenders such as Axis Finance and IDBI having appealed the National Company Law Tribunal's (NCLT) decision approving the merger scheme before the National Company Law Appellate Tribunal (NCLAT), the union could still happen by as early as the first half of November. Another source said the Boston Consulting Group (BCG), which was tasked with completing the integration process, is working overtime to complete the responsibilities associated with the merger. «Our aim is to finish the merger by early November. The teams on both sides are working incredibly hard to finish the merger-related formalities,» said a senior official, who declined to be named. Legal & regulatory formalities Corroborating this information, another source said that the merger is nearing completion, even as a media report suggested that Tokyo-based Sony Group Corp has held exploratory talks with Walt Disney to acquire its India assets due to the delay in completing the merger deal with ZEEL. «While we are targeting to conclude the merger early next month, there is always a possibility of a delay considering the legal and regulatory formalities that are involved,» said the second executive cited above. Both Sony and Zee declined to comment.

Corporate India is clearly towards inclusion, notwithstanding the Supreme Court saying no to same-sex marriages. HR and diversity, equity and inclusion (DEI) heads at leading corporates including Godrej, Lupin, Axis Bank and Publicis Sapient said the SC order will not hamper India Inc's drive to become more progressive and inclusive organisations. A five-judge constitution bench headed by Chief Justice of India DY Chandrachud on Tuesday said the Supreme Court could not strike down the provisions of the Special Marriage Act and that Parliament should decide on the issue. However, it also issued directions to prevent discrimination against the queer community, recognise the right of transgender persons in heterosexual relationships to marry under the existing legal framework, and so on. «Inclusion is a long journey, and we are getting there,» said Parmesh Shahani, head of Godrej DEI Lab, adding that be it in terms of innovation or profitability, companies have realised that inclusivity is the way to go. «While a clearer marriage equality verdict would be more helpful, companies that want to be progressive will continue being progressive,» he said.

TLDR

Bajaj Auto is expected to report mid-single-digit revenue growth in the second quarter of the current fiscal, mainly driven by better realisations despite a drop in volumes. Volumes for the September quarter declined 8% year-on-year (YoY), led by a 19% fall in the domestic two-wheeler segment due to base effect, and a 5% dip in export two-wheeler segment due to weak demand trends in African and South Asian regions. Revenue for the quarter is seen growing anywhere between 6-8%, while profit is likely to rise about 16%, according to an average estimate of three brokerages. EBITDA margin expansion YoY will likely be driven by better net pricing and product mix.

₹7,607.25 crore and bought stocks for ₹7,013.59 crore, resulting in an outflow of ₹593.66 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹6,737.67 crore and offloaded shares worth ₹5,553.43 crore, resulting in an inflow of ₹1,184.24 crore, the exchange data showed. The 30-share BSE Sensex shed 115.81 points, or 0.17%, to end at 66,166.93.

Shreyash Devalkar, Head of Equity at Axis Mutual Fund is positive on India’s long-term story even as he believes elevated US treasury yields and the impending slowdown globally could weigh on Indian equities in the short to medium term. In an interview with Mint, Devalkar shares his views on markets and his expectations from Q2FY24 earnings. Indian equities have seen remarkable performance compared to global major indices.

Click here!) Asian Tiles has been in a 15-month consolidation and during this period it witnessed increased volatility. The stock has confirmed a breakout from this consolidation on the weekly charts with extremely strong volumes. The delivery volumes have been above average as well, suggesting strong accumulation has been seen in the stock and it is now ripe for a strong upside.

Prior to investing in a mutual fund scheme, retail investors are expected to weigh a number of pros and cons relating to the scheme and its returns, and rightly so!

Sandip Sabharwal, asksandipsabharwal.com, says “among the stocks that are in the value zone on the consumer side, something like Voltas and Aditya Birla Retail. We are accumulating these two stocks on every dip because I think the downside is limited. Near-term upside, I am not very sure about but over the next one and a half year, we should be able to get 25-30% out of these stocks. ” I have always been an SBI bull because I am fascinated with what they have done, not only in terms of managing the branch networks but also in terms of the digital app, Yono. Do you think one should get slightly myopic and look at NIMS and pressures on retail spreads and get bearish on the stock or is SBI something which will continue to surprise us? NIMs compression has been known, it is something which is out in the open and everyone knows that there is going to be NIMs compression.

AFP report, Hezbollah deputy chief Naim Qassem said, "We, as Hezbollah, are contributing to the confrontation and will (continue) to contribute to it within our vision and plan," Qassem told a pro-Palestinian rally in Beirut's southern suburbs. "We are fully prepared, and when the time comes for action, we will take it," he said.

Stock to buy: Despite sell off in key benchmark indices, small-cap stock JTL Industries shares managed to climb to its new peak of ₹249.40 apiece on NSE during Friday deals. The small-cap stock was able to do that despite missing market estimates in its Q2 results 2023 declared on Thursday. Interestingly some brokerages of well repute believe that the small-cap stock may continue to scale further new highs in upcoming sessions.

In the largecap segment, 15 companies witnessed significant block deals worth Rs 6,668 crore, led by HDFC Bank with a 49 block count, totalling Rs 2,963 crore. The next in line were Axis Bank (Rs 785 crore), Kotak Mahindra Bank (Rs 603 crore), Cholamandalam Investment & Finance Company (Rs 325 crore) and UltraTech Cement Company (Rs 325 crore). Others were, namely Bharti Airtel, Mahindra & Mahindra, NTPC, HDFC Life Insurance Company ICICI Bank, Larsen & Toubro, Apollo Hospitals Enterprises, Asian Paints, Reliance Industries and Torrent Pharma with block deals between Rs 243 crore and Rs 67 crore, shows data from Nuvama. Please note, data pertains to the period up to Thursday, October 12, 2023.

"Partnering with a leading education provider like MDI is not only a step-forward for LIBF India but will also act as a transformative opportunity for students and professionals in India. We commit to imparting best practices among students and professionals in the banking and finance domain, preparing them to excel in the ever-evolving global financial landscape" says Sumit Mehta, Director, LIBF India.

Benchmark NSE Nifty closed 42.95 points down at 19751.05 amid selling in frontline bluechip counters. However, stocks such as Rajesh Exports, Winsome Yarns, Diamines Chem, Nakoda Group Of Ind and V Mart Retail, touched their fresh 52-week lows.

The NSE Nifty index ended the session 42.95 points down at 19751.05, while BSE Sensex fell 125.65 points to 66282.74. In the Nifty index, Tata Motors Ltd.(up 4.73 per cent), IndusInd Bank Ltd.(up 2.77 per cent), HCL Technologies Ltd.(up 2.63 per cent), Tata Consumer Products Ltd.(up 2.35 per cent) and Nestle India Ltd.(up 2.08 per cent) stood among the top gainers.

Americans are uneasy as war returns to another part of the world, and Washington is slow to confront the growing danger. Priority No. 1 is an all-out national effort to expand U.S.

The NSE Nifty index was trading 114.75 points down at 19679.25, while BSE Sensex was down 401.02 points at 66007.37 at the time of writing this report. In the Nifty index, Tata Consumer Products Ltd.(up 1.99 per cent), IndusInd Bank Ltd.(up 1.69 per cent), HCL Technologies Ltd.(up 1.56 per cent), Cipla Ltd.(up 0.66 per cent) and Coal India Ltd.(up 0.60 per cent) were among the top gainers.

Indowind Energy(up 4.84%), Voltamp Transformers(up 3.16%), JSW Energy(up 2.81%), SJVN(up 2.40%), KPI Green Energy(up 2.03%), KEC International(up 1.18%), Orient Green Power Company(up 1.10%), Transformers and Rectifiers(India)(up 0.23%) and Hitachi Energy India(up 0.01%) were among the top gainers. Karma Energy(down 3.66%), Energy Development Company(down 2.44%), Alstom T&D India(down 2.04%), Torrent Power(down 1.82%), Power & Instrumentation(Gujarat)(down 1.73%), Adani Power(down 1.43%), Jaiprakash Power Ventures(down 1.03%), GE Power India Limited(down 0.99%), Indo Tech Transformers(down 0.94%) and Adani Energy Solutions(down 0.91%) were among the top losers.

Balrampur Chini Mills(up 0.23%), Kothari Sugars & Chemicals(up 0.19%) and Mawana Sugars(up 0.14%) were among the top gainers. MAGADHSUGAR(down 1.58%), Triveni Engineering & Industries(down 1.52%), BAJAJHIND(down 1.18%), Dalmia Bharat Sugar & Industries(down 1.14%), Dhampur Sugar Mills(down 1.09%), Simbhaoli Sugars(down 0.99%), Sakthi Sugars(down 0.96%), AVADHSUGAR(down 0.94%), EID Parry(down 0.78%) and Bannari Amman Sugars(down 0.53%) were among the top losers.