UPL reported disappointing Q2FY24 results on October 30, 2023. Revenue fell 19% YoY to Rs 10,170 crore in Q2FY24 compared to Rs 12,506 crore in the same period previous year. According to the management, revenue was impacted by global channel destocking and elevated pricing pressure. Operating margins came in at 15.5% in Q2FY24, contracting 666 […]
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Indiastockguru team Cipla reported strong Q2FY24 results supported by US and India markets. Cipla is ranked 3rd largest in pharma in India, 2nd largest in the pharma prescription market in South Africa and 4th largest by prescription in the US Gx inhalation products. The company has strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective and […]
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Greenlam Industries stock price jumped 14% after Q2FY24 results were announced. The company delivered robust September Quarter 2023 numbers. Greenlam is among the world’s top 3, Asia’s largest and India’s No. 1 surfacing solutions brand. With its presence in over 100 countries, Greenlam offers end to end surfacing solutions spread across decorative laminates, compact laminates, […]
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Bajaj Auto’s stock price touched its new 52-week high rallying 4% after September Quarter 2023 results were announced. Market leader in three-wheelers and 125cc motorcycles in India delivered strong Q2FY24 numbers supported by 15% increase in its average selling price (ASP). Thus, even with an 8% YoY volume decline, revenues came in at Rs 10,838 […]
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Federal Bank reported healthy September Quarter 2023 with robust loan book growth and strong asset quality. The stock price touched its new 52-week high of Rs 152 before Q2FY24 results were announced. The private sector lender’s stock price has since then lost 2.6%. September Quarter 2023 results looks impressive, highest ever net profit and net […]
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Quarterly updates of companies have started pouring in for September Quarter 2023. Godrej Consumer Products Ltd (GCPL) released its quarterly update on October 5, last week. According to GCPL’s Q2FY24 update, the operating environment was tough amid weak macros and adverse weather conditions. High food prices and monsoon deficit has not only hit rural India […]
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Floods in June-July and then the driest August over the past one decade. Monsoon this year has been erratic, patchy, uneven and unpredictable. The El Nino factor took hold of Indian monsoons in August and on the whole, there is nearly 10-12% rainfall deficiency in 2023. With this backdrop, auto retail volume growth over the […]
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Astral Astral stock price has gained 50% from its 52-week low of Rs 1,297 struck in March 2023. Astral has two main business verticals, plumbing (pipes, fittings, water tanks, faucets and sanitary ware) and paints & adhesives. The company is planning to put three new units of pipes. First unit at Guwahati (capacity of 22,000 […]
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Marico reported consolidated revenues of Rs 2,477 crore in Q1FY24 against Rs 2,558 crore, corresponding quarter previous year. While revenues reported 3% YoY fall in June Quarter 2023, net profit increased 15% YoY at Rs 427crore. Domestic revenues came in at Rs 1,827 crore down 5% YoY in Q1FY24. Lower revenue growth was due to […]
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