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Glenmark Pharma net profit doubled to Rs 340 crore crore in Q1FY25 led by robust sales growth in India and Europe and reduction in finance, depreciation and ammortisation costs. The drugmaker reported Rs 173 crore net profit in the corresponding quarter of the previous year.

Bahnsen Group managing partner David Bahnsen analyzes the Feds plan to reduce inflation on Varney & Co.

Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September

Many Canadians today are feeling the pinch and reining in their spending, waiting out harsh economic winds in a pattern of behaviour typical of major recessions and financial crashes in history.

US consumer inflation eased slightly in July, according to government data published Wednesday, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The consumer price index (CPI) rose 2.9 percent last month from a year ago, the Labor Department said in a statement, while a measure that strips out volatile food and energy costs cooled to an annual rate of 3.2 percent. This was slightly lower than the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.

Maddock Supernatural Universe, has captured significant attention this year. Directed by Aditya Sarpotdar, this horror-comedy drama features Abhay Verma and Sharvari in leading roles, alongside Mona Singh, Sathyaraj, and Suhas Joshi. The film, released on June 7, 2024, blends elements of horror, comedy, and drama, drawing from Indian folklore and mythology to weave its tale.

FS Investments chief market strategist Troy Gayeski provides his outlook for the markets, the banking sector and a possible rate cut.  

Chakri Lokapriya, Managing Partner, RSB LLP, says the current Supreme Court ruling on mines, allowing states to collect past dues will mean an outgo of about Rs 60,000 crore for just the PSUs and another Rs 1 lakh crore for the private companies. So, Rs 1,60,000 crore will need to be repaid over the next 10-12 years. Now, that completely takes away the capital expense that these companies plan for the next many years, which means the jobs that they were going to create and the NPAs that they will create in the banking system, have multi-ramifications right from job creation to NPAs. Insurance over the last couple of months has become quite interesting for investors because the overhang seems to be over. Do you still think the story is not fully discovered and priced in or do you think perhaps the best is in price already now? Chakri Lokapriya: I think the price hikes largely reflect the increased costs that they are mandated to do. Now, they have to cover the existing ailments, and also, the price revisions faced by the insurance companies are periodic versus other prices, like medical costs, which are going up continually. All things adjusted, I do not think 7-10% price hikes will take care of the risks and the cost increases, but not add to the profitability.

EPL Ltd. with a target price of Rs 275.0. The current market price of EPL Ltd. is Rs 243.95 . EPL Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 7762.40 Crore) operating in Packaging sector.

Read this | From profit to penalty: The perils of insider trading in your employer’s stock We’ve all heard the adage: Human memory is short and fickle. Throughout history, from the tulip mania of 1657 to the 2008 financial crisis, market events have repeatedly taught us the same lessons. Yet, many fail to learn because human behaviour and emotions, driven by greed and fear, remain unchanged.

Congress is capable of winning the Haryana assembly polls on its own and no talks have been held with any party for an alliance yet, former Haryana chief minister Bhupinder Singh Hooda has said, indicating that his party may not have a tie-up with the AAP in the upcoming elections. In an interview with PTI, Hooda also stressed that winnability would be the criteria for ticket distribution for the assembly polls. Asked if there is a possibility of a tie-up with its INDIA bloc partner Aam Aadmi Party (AAP) for the state elections, the senior Congress leader said, «We have an alliance at the national level (with the AAP) but as far as state level is concerned, no talks have been held with any party.» «The Congress is capable (to win) on its own. No talks have been held yet,» the two-time chief minister said.

Mint analysis of 1,475 BSE-listed companies that reported their financial results by Friday showed a 9% year-on-year increase in their combined revenue and a more modest 5% rise in net profit. While revenue growth was still one of the best in a year, the string of consistent sub-10% figures in this period could keep India Inc. tense.

Hero MotoCorp recorded its highest ever quarterly revenue and profit after tax in Q1 FY25 as it reported a 16 per cent revenue growth from the same quarter of the previous year at Rs 10,144 crore and PAT at 1,123 crore, an increase of 36 per cent from Q1 FY24. The revenue touched 10,000 crore in a quarter for the first time in the company’s 40-year history. The company sold 15.35 lakh units in the quarter, an increase of 13.45 per cent from the same quarter of the previous year. “We continue to be on the profitable growth journey, crossing Rs 10,000 crore revenue for the first time ever, accompanied by the highest ever underlying PAT. As we surge forward, we are investing behind long term capability building to ensure sustained delivery of growth in future,” said Niranjan Gupta, CEO, Hero MotoCorp.

Samvardhana Motherson International (SAMIL) surged 4.5% to day’s high of Rs 188.75 on BSE after reporting a 65% year-on-year (YoY) jump in consolidated net profit to Rs 994 crore for the June quarter of FY25. The company's revenue increased by 29% YoY to Rs 28,868 crore for the period under review, compared to Rs 22,462 crore in the same quarter of FY24.

Satish Pai, MD, Hindalco, says this quarter the sales were much higher than expected. The demand was very strong, and operational efficiencies were good. The company got a higher number, but there was also some amount of hedge accounting noise that came in, which can always go either way. So, on a consistent onward-going basis, Hindalco will stick with the Rs 600 crore guidance. Further, in India, Hindalco is net debt negative. The gross debt in India is around Rs 8,000 crore. The company does not have any plans to reduce that anymore. In Novelis, once the Bay Minette project is over, they will be back to normal two-and-a-half type of net debt to EBITDA rates. While Q1 revenue growth was largely in line with the guidance that you had earlier stated, given the recent fall in metal prices that we have seen recently, are you confident of achieving, let us say, 6% to 8% top-line growth guidance that you had given at the start of the year? Satish Pai: So, I think that honestly in our commodity type of business, we are more interested in growing the EBITDA than the top line. So, if you look at it, this quarter our consolidated EBITDA of Rs 7,992 crore was up 31% year-on-year. Our focus is on profitability and margins more than just trying to grow the top line because the top line in a commodity business is very much driven by the price of aluminium and copper, which is not really in our control. So, what we try to focus on is the profitability.

Dipan Mehta, Director, Elixir Equities, says gradually, a lot of the factors have improved for pharma companies and I am very positive on the pharma sector. That will be the target sector in the event of a correction and we like to be overweight pharma. Structurally, some things have changed in the US generic market and they are now able to get at least a fair price for whatever they are selling over there. What has been your key takeaway from Hero MotoCorp's quarterly performance? Dipan Mehta: The performance appears good, but the problem is the sustainability of the numbers going forward. While they have been able to increase their market share, the new products that they have launched are highly successful and that is helping them gain the market share. The raw material costs have been pretty. On the lower side, they have been stable and therefore, operating profit margins have gone up and operating leverage has come into play.

Sensex and Nifty opened marginally higher on Wednesday, tracking global peers, after softer U.S. producer prices data reinforced bets of an interest rate cut by the Federal Reserve in September. The BSE Sensex was trading 88 points, or 0.11%, higher at 79,042. The Nifty50 was up 27 points, or 0.11%, trading at 24,166 around 9:12 am.

It also formed a bearish candle on the daily chart with a long upper shadow, indicating that the sell-on-rise trend may continue.

Hindalco and Apollo Hospitals while Goldman Sachs has a sell rating on Hero Motocorp. Jefferies and Investec have a buy rating on Max Financial and Nykaa respectively. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Donald Trump and Kamala Harris are in a tax policy arms race, copying and one-upping each other’s proposals in a bid to court key battleground state voting blocs ahead of a looming battle in Washington to rewrite the tax code.