GMR AIRPORTS INFRA Q3FY24 RESULTS
Defence stocks have done it, will the infrastructure sector follow suit? 6 stocks of the highway makers
There are four sectors, Railways, Defence, Infrastructure and PSU as a set of stocks where election results were important due to the fact that policy continuity was seen as major tailwinds. Because the results were not exactly the way the street had expected, there was a sharp reaction in all these stocks after the election results. But within ten days, the majority of the defence stocks are already higher than what they were quoting on the day of elections. The question is whether other sectors also will see a catch up or not. Now there cannot be any doubt that political noise levels are going to remain high and that might create uncertainty at times. It might take a while for some of the sectors to get the momentum back on the street but probability of getting back on track is high as and when the street gets an indication that it is work as usual in the sector.
Infrastructure stocks: With more clarity a stronger round of re-rating in Modi 3.0? 7 infra stock with upside potential of up to 33%
Couple of months back PM Modi had mentioned his priorities of Modi 3.0. The first word which was used was infrastructure and then subsequently others. There should not be any surprise given the fact that even in the last ten years, infrastructure has been a priority. What has changed is that in the first five years, it was the clean up of the books and debt which was taking place. In the next five it was both, lowering debt, higher order book and now with books much better placed, much less litigation, now when the order book gets bigger as the focus on infrastructure continues the increase is likely to be more visible in margins and that increases the probability of even a strong and sustained rating. We take a look at infrastructure makers, which is very different from infrastructure owners. Though in some cases, these companies also have some projects where they have stakes.
Jefferies initiates coverage on GMR Airports, with a target price of Rs 100
Jefferies initiates coverage on GMR Airports with a 'buy' rating and a target price of Rs 100, anticipating a 3 times growth in EBITDA over 5 years. The company's strategic position, growth potential, and real estate monetisation drive optimism.
Infrastructure stocks: Stay bullish, hedge to participate in next round of re-rating: 6 infra stock with an upside potential of up to 39%
Among the sectors which have seen a strong re-rating in the last five years, probably infrastructure is amongst the top ones. Like many other sectors here also the re-rating has been largely due to policy push and government spending. If one looks at the performance of the companies in the last five years, there has been clearly strong growth across the board. So, policy continuity becomes critical for this sector and the stocks. The
JK Tyre Q4 Results: Net profit zooms 54% YoY to Rs 172 crore
JK Tyre & Industries on Tuesday said its consolidated net profit increased 54 per cent to Rs 172 crore for the fourth quarter ended March 31, 2024, on account of higher sales. The tyre maker had reported a net profit of Rs 112 crore in the year-ago period.
IRB Infra shares rise over 4% after Q4 results. Should you buy or sell?
IRB Infrastructure Developers saw a 4.3% rise in shares on BSE as it reported a 45% YoY increase in Q4 net profit to Rs 188.9 crore, with revenue up 27% YoY.
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GIFT Nifty up 5 points; here's the trading setup for today's session
"Although Nifty opens positive, it is witnessing resistance at higher levels, indicating cautiousness among the investors with the progress of both the result season and the Lok Sabha election. We expect this volatile move to continue till the Exit poll. Hence market to remain in a broader range until clarity emerges," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Adani Enterprises Q4 Results: Cons PAT declines 38% YoY to Rs 451 crore
Adani Enterprises Q4 Results: The company's board has recommended a dividend of Rs 1.30 per equity share for the financial year 2023-24. The consolidated revenue from operations for the reporting quarter stood at Rs 29,180 crore, marginally up by 0.81%.
Adani Group keen to buy AAI's stake in Mumbai airport: Report
The Adani Group is considering a bid to acquire the stake held by the Airports Authority of India (AAI) in the Mumbai International Airport. However, the group is not interested in acquiring AAI's residual share in airports such as Delhi, Bengaluru, and Hyderabad. They also plan to bid for airports that the government may put up for auctions. The group's strategy is to focus on acquiring a controlling stake in the Mumbai airport, where they are already a majority stakeholder, rather than other airports.
Why is the Q3 GDP surprise not surprising?
The robust 8.4% real GDP growth print for 3Q contrasts the grim reality of household consumption and income situation. The latest national expenditure survey (2022-23), released after a lag of 11 years shows real consumption grew modestly at 3% over the past 11 years and the PLFS data indicates flat real incomes over the past four years. Also, most consumer companies have shown a lackluster demand situation.
Satya Nadella interview; Zomato's restaurant onboarding push
Artificial Intelligence will not only help solve India’s unique structural challenges and help increase productivity and societal benefits, but those solutions for India may turn out to be relevant for the rest of the world as well, Nadella told ET.
IndiGo shares climb over 5% after Q3 profit zooms 111% YoY. Should you buy or sell?
InterGlobe Aviation, also known as IndiGo, saw its shares rise by 5.6% after reporting a consolidated net profit of Rs 2,998 crore, a significant increase of 111% compared to the same quarter last year. The company's revenue from operations also grew by 30% year-on-year to reach Rs 19,452 crore. With five consecutive profitable quarters, IndiGo is now net worth positive. The company's EBITDAR jumped 61% to Rs 5,475 crore, while passenger ticket revenues rose by 30% to reach Rs 17,157 crore. Analysts recommend buying IndiGo stock due to positive industry dynamics and strong financial performance.
Infrastructure stocks mixed as Budget lives up to Dalal Street expectations
Analysts had expected government capex to further increase by 10-15% for FY25. In FY24, the government had pegged a capex target of Rs 10 lakh crore. Of the total outlay for FY25, the government has allocated Rs 2.78 lakh crore for the road transport and highways ministry, and Rs 2.55 lakh crore for railways.
Adani Twins Q3 results today: What should Dalal Street investors expect?
Adani Enterprises and Adani Ports are slated to release their earnings for the quarter ended December today. Analysts anticipate a strong performance from Adani Ports due to healthy growth in cargo volumes and sales mix. Investors will focus on the performance of Adani Enterprises' integrated resource management business, which was impacted in the previous quarter. Adani Ports is projected to report a 42-50% YoY growth in revenue, driven by robust cargo volumes. The company aims to achieve over 400 million tonnes of cargo volumes in FY24.
GMR Airports Infra Q3 Results: Co swings to loss on increase in finance costs
The operator of India’s busiest airport in Delhi posted a loss of Rs 486 crore in the October-December quarter from a net profit of Rs 106 crore a year earlier. Revenue rose 26% to Rs 2,227 crore, but finance cost increased 45% to Rs 857 crore.
Q3 results this week: ITC, Adani Ports, Bajaj Finance, IndiGo, SBI, Tata Motors and others
ITC, Bajaj Finance, NTPC, Adani Green Energy, Bharat Electronics, Punjab National Bank, GAIL, Bharat Petroleum, Corporation, Vodafone Idea, Marico, Petronet LNG, Nippon Life India Asset Management, Tata Investment Corporation, Piramal Enterprises, R R Kabel, Aditya Birla Sun Life AMC, Maharashtra Seamless, Nuvoco Vistas Corporation, Godfrey Phillips India, among others will report their December quarter numbers on Jan 29
Shoppers Stop Q3 Results: Profit down 41% to Rs 36.85 crore, revenue up 8.8%
Shoppers Stop Q3 Results: The company had posted a net profit of Rs 62.74 crore in the October-December period a year ago, according to a company regulatory filing.
Breakout Stocks: How GMR Infrastructure, LIC Housing and NOCIL are looking on charts for tomorrow’s trade
GMR Airports Infrastructure is currently developing two significant greenfield airport projects - one in Bhogapuram, Andhra Pradesh, and the other in Heraklion, Crete, Greece, in collaboration with construction company GEK Terna. The passenger traffic at Delhi and Hyderabad airports is consistently increasing, reaching the highest year-to-date (YTD) levels recorded.
GMR Airports stock zooms 14% amid block deal
In Q2 FY24, GMR Airports Infrastructure reported its consolidated net loss reduced to Rs 190 crore. The company had reported a net loss of Rs 197 crore in the quarter ended September 30, 2022.
Adani Enterprises Q2 Results: Cons profit plunges 51% YoY to Rs 228 crore, revenue down 41%
Sequentially, the fall in the bottomline was steeper at over 66%, and the topline dropped by more than 11%. While both the topline and bottomline saw a sharp fall in the quarter, the operational performance was good, with consolidated earnings before interest, taxes, depreciation and amortisation or EBITDA rising 30% YoY to Rs 2,430.29 crore.
Q2 results this week: Airtel, Adani Enterprises, Zomato, Tata Motors, L&T, Titan, IndiGo and others
Adani Green, DLF, TVS Motor, Marico, Tube Investments, Proctor and Gamble, Supreme Industries, APL Apollo, UPL, GMR Airports, Petronet, KPIT Technology, Nippon Life, Blue Star, DCM Shriram among others will announce their Q2 results.
Q2 results: These 17 companies are likely to report loss. What should investors do?
Restaurant Brands Asia, which runs Burger King India, is seen reporting a quarterly loss of Rs 15.7 crore. While Kotak has a 'reduce' rating on the stock, Motilal has given a buy rating.
RBI MPC, FII action, Q1 earnings among top 10 factors to drive Dalal Street mood this week
Plenty of data to be announced by the US this week including those on trade balance, CPI, initial jobless claims, wholesale inventories and consumer sentiments. The UK will declare industrial production, manufacturing production and GDP data. China will announce its FDI, CPI, producer price index (PPI) and trade balance data
IDFC First Bank’s operating profit will continue to outpace loan book growth: V Vaidyanathan
IDFC First Bank's CEO, V Vaidyanathan, has said that the bank's operating profit will continue to outpace loan book growth. For the latest quarter, IDFC's loan book grew by 24%, with its net interest income, operating profit and pre-tax profit growing by 36%, 45% and 61%, respectively. Vaidyanathan also credited the bank's strong deposit growth, which he said was attributable to the brand's "certain character" and high quality customer service.
Stable local demand boost Q4 earnings, yet external factors pose challenges for FY24
As Q4 GDP growth exceeds expectations, India looks to achieve a GDP growth rate of 7.2% in FY23, raising hopes that its FY24 growth will soon exceed 7%. However, the country will have to contend with the expected global slowdown which could negatively impact India's growth prospects.
GMR Infra shares tank 11% as Q4 loss widens to Rs 637 crore
GMR Airports Infrastructure saw its shares fall 11% to Rs 40.1 on the BSE after it posted a consolidated loss of Rs 637 crore ($86m) in Q4 FY23, compared to a loss of Rs 129 crore in the same quarter last year. Revenue from operations increased 47.6% to Rs 1,895 crore for the same period, while EBITDA decreased 49% YoY to Rs 241 crore. GMR said near-term traffic may face headwinds from supply-side constraints like the bankruptcy of GoFirst and engine issues, but expected gain momentum in medium- and long-term from an increase in airline capacity and routes and greater connectivity between tier-II and tier-III cities.
LIC to declare fourth quarter results on May 24
Life Insurance Corp (LIC) will announce its Q4 earnings on May 24. In Q3, the state-owned insurer posted a 14.6% YoY rise in gross premium, a 31.2% YoY increase in single premium, a 10.8% rise in first-year premium, and a 5.9% uptick in renewal premium. LIC recently appointed Siddhartha Mohanty as chairman of the firm until June 2023. LIC also has an equity portfolio of about Rs 10 lakh crore ($135bn) with investments in 273 stocks. During Q1 2023, LIC raised investments in IRB Infra, Infosys, RIL, Maruti Suzuki, TCS, Tech Mahindra Dr Reddy's Lab, GAIL and Container Corporation of India.
Tata Motors Q4 Results: Automaker clocks profit of Rs 5,408 crore; revenue jumps 35% YoY
The company announced a final dividend of Rs 2 per equity share and Rs 2.1 per share for DVR shareholders subject to approval by the shareholders at the AGM.
Centre likely to go slow on airport privatisation plan
Different arms of government are debating over the modalities of the sale as it is felt that there may not be aggressive bidding because of the stretched finances of airport companies, they said. "It's unlikely that there will be any decision before the elections as fixing the bidding process, pre-bid consultations and other steps take at least 150 days," one of the people said.
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