REVENUE MIX
This multibagger pharma stock turns Rs 10,000 to Rs 2.7 lakh in 10 years. Should you buy?
Accordingly, if an investor had invested Rs 10,000 in the stock four years ago and stayed put, the investment would have jumped to 2.7 lakh, according to an analysis by ET Markets.
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
Financial audit, top-deck rejig at Medikabazaar; GCCs woo more techies
A financial audit and top-level reshuffle are in the works at business-to-business (B2B) startup for medical supplies Medikabazaar. Details on this and more in today’s ETtech Morning Dispatch.
Roll-up brands firm Goat Brand Labs raises $21 million in a mix of debt and equity
BlackRock, Mayfield, and NB Ventures, among others, chipped in, while some existing investors like Flipkart’s venture arm stayed away. Founder Rishi Vasudev notes profitable scale-up. Mensa Brands and GlobalBees refocus strategies. National roll-up space faces challenges; Lifelong India divested by Thrasio. Trase re-acquired by cofounders from Upscalio.
On this season of corporate earnings, Nifty50 companies likely to give solid show
Nifty 50 cos expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.
Emcure Pharma IPO GMP rises on share allotment day, indicating healthy listing
Following a healthy response to the IPO of Emcure Pharmaceuticals, the shares of the company are commanding a healthy premium of Rs 360 in the unlisted market.
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Revenue growth to be quite significant for next 2 financial years: Saurabh Gupta, Dixon Technologies
I do not want to give you guidance on any number, but clearly the order book looks extremely healthy, not only across mobile vertical which is the largest trigger for our growth, I think so even IT hardware opportunities looking very promising.
Avenue Supermarts Q1 Update: Standalone revenue jumps 18% YoY to Rs 13,712 crore
Avenue Supermarts, owner of DMart, reported a 22.4% increase in consolidated net profit to Rs 563 crore for the quarter ended March 2024, driven by a 20% YoY jump in revenue to Rs 12,727 crore. The company also witnessed a 22.3% YoY growth in EBITDA to Rs 943 crore, with operating profit margins expanding by 13 basis points to 7.41%.
Coca-Cola uncaps board control of bottling operations
The Coca-Cola Company's move directly impacts India as Coca-Cola India's wholly-owned bottling company, Hindustan Coca-Cola Beverages (HCCB), was controlled by BIG.
Vraj Iron and Steel IPO picks up pace on Day 2. Check subscription, GMP and other details
The initial public offer (IPO) of Vraj Iron and Steel picked up pace on the second day of the bidding process. The issue was subscribed over 8 times so far, driven by strong interest from retail and non-institutional investors.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
PayU India FY24 consolidated revenue rises 22% to $1.1 billion
Prosus's fintech arm, PayU, reported a consolidated revenue increase of 22% in FY24, reaching $1.1 billion. This growth can be attributed to the success of their Payment Service Provider (PSP) businesses in India and Turkey, alongside continued expansion in their India credit operations and the global payment operations (GPO) business.
The Pant Project raises $4.25 million in maiden funding round
The Pant Project will use the funds for offline retail store expansion, branding and marketing, technology development, and team growth, Dhruv Toshniwal, cofounder of the company told ET. The company gets about 60% of its revenue from top-tier cities such as Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Pune, and Ahmedabad, and the balance 40% from tier II cities.
Gen Z laps up ethnic fashion brands; Warburg Pincus-Whatfix deal
Happy Wednesday! Ethnic wear brands are gaining prominence among young working professionals and, in the process, attracting investor interest. This and more in today’s ETtech Morning Dispatch.
Simplilearn eyes 35-40% revenue growth in FY25
Simplilearn, owned by Blackstone, aims for 35-40% revenue growth in fiscal 2025 after restructuring and focusing on core areas. It targets Rs 950 crore revenue and full-year profitability in FY25. It competes with the likes of Temasek-backed Upgrad, Byju’s-owned Great Learning and Unacademy’s Relevel.
Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI
The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.
US stocks mixed as Nvidia retreat hits tech stocks; payrolls data in focus
The Nasdaq and S&P 500 touched fresh intraday record highs shortly after the open, however, initial gains fizzled out as Nvidia slipped more than 2%. In the previous session, it had crossed $3 trillion in market valuation and overtaken Apple as the world's second most valuable company.
Lending startup Fibe closes $90 million financing in mix of primary and secondary transaction
Pune-based consumer lending startup Fibe is raining money at a time when fintech lending startups focusing on unsecured consumer lending are finding it difficult to raise fresh equity funding due to RBI's scanner.
Top stocks to buy: Bet on companies with healthy net profit margins to remain versatile during uncertain market conditions
The markets are expected to rally if the election results align with expectations. Nonetheless, persistent macro issues and valuation concerns may constrain the upside potential. Analysts suggest that investors capitalise on the current volatility by accumulating quality stocks.
Planning to invest Rs 3,000 crores to add 2,000 beds in 3 years: Suneeta Reddy, Apollo Hospitals
Let us look at both ARPOB, it is over 59,000, it is about Rs 59,0330. We have seen an increase in ARPOB of around 12%, but more importantly just going forward, this is because of a better case mix and price, but definitely improved case mix. With regard to volumes, inpatient volumes grew by 6%, outpatient volumes grew by 9%. And our ARPOB is net of doctors’ fees.
R R Kabel shares zoom 6% after posting 20% YoY jump in net profit. Should you invest?
R R Kabel's shares surged 6% on BSE to Rs 1,820.80 after reporting a 20.6% YoY increase in profit after tax to Rs 78.7 crore. The company's revenue rose 15.7% YoY to Rs 1,754 crore, with EBITDA margin at 6.6%.
Confident of delivering 20% plus value growth for coming year: Ramanpreet Sohi, Honasa Consumer
We have delivered 7% EBITDA for the year and we are looking at about 150 bps expansion into next year.Now, of course out of this, two-third of this will be driven by marketing A&P efficiencies. I think one thing that everyone needs to understand is that we are building a house of brands.
Q4 results today: ITC, IndiGo among 181 companies to announce earnings on Thursday
181 companies, including IndiGo and ITC, will announce their quarterly earnings for Jan-Mar 2024. IndiGo is expected to post healthy earnings, while ITC may see muted revenue growth.
Cera Sanitaryware is this week's stock pick; why analysts are bullish
Cera Sanitaryware emphasises innovation, introducing 218 new products in 2023-24, which accounted for 30-35% of its total sales.
Nepal follows HK and Singapore, bans India’s Everest and MDH spices
Nepal’s Department of Food Technology and Quality reported that the ban is due to the suspicion of ethylene oxide contamination. The banned spices include madras curry powder, sambhar mixed masala powder, mixed masala curry powder of MDH, and fish curry masala of Everest. The importers and traders are requested to recall these products from the Nepalese market.
After Singapore and Hong Kong, Nepal bans 'Everest, MDH Masala' brand
Nepal's Department of Food Technology and Quality Control has prohibited the import, sale, and consumption of two Indian spice brands, Everest and MDH, due to concerns about high levels of ethylene oxide. These are Madras Curry Powder, Sambhar Mixed Masala Powder; Mixed Masala Curry Powder of MDH and Fish Curry Masala of Everest
European stocks slip as mixed earnings offset M&A cheer
European stocks slipped on Thursday following mixed earnings from blue-chip companies such as Nestle and Deutsche Bank, while big M&A news in the mining sector powered Britain's FTSE 100 to fresh highs.
Telco revenues may surge to Rs 2.78 lakh crore in FY25
Revenues stood at ₹1.7 lakh crore in FY16 with the sector having more than 10 private companies. This was before Reliance Jio made its debut the following year. Revenues are expected to touch ₹2.78 lakh crore in FY25 in an industry comprising only three private operators - Jio, Bharti Airtel and Vodafone Idea (Vi).
AstraZeneca targets 2024 growth but mixed views hit shares
In almost a decade since AstraZeneca fended off a takeover by U.S. rival Pfizer, CEO Pascal Soriot has rebuilt the Anglo-Swedish drugmaker's pipeline, which includes 13 blockbuster medicines, meaning those that generate more than $1 billion in annual sales.
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