Shares of Allied Blenders and Distillers Ltd. surged 7% to ₹339.40 on Wed, following a positive initiation report by Sharekhan with a price target of ₹450, implying a 40% upside. The brokerage expects multifold earnings growth with debt reduction & premiumization, leading to improved return on equity & capital employed by FY2026. The stock is currently trading at discounted multiple of 22 times.
Open FlipFitch Ratings affirmed a 'BBB+' rating with a stable outlook on Larsen & Toubro, citing the company's strong financial structure and flexibility. The ratings reflect L&T's market position, above-average profitability, and solid revenue visibility. The company's robust margins, diversification, and prudent financial management will help maintain comfortable leverage despite growth investments.
Open FlipVedanta reported a 36% year-over-year increase in alumina production to 539 kt, driven by new capacity, and a 3% YoY increase in cast metal aluminum production to 596 kt. Mined metal production rose 2% YoY to 263 kt, while refined metal production was up 1% YoY to 262 kt. Refined zinc production increased 1% YoY to 211 kt, and refined lead production rose 2% YoY to 51 kt.
Open Flip