Wed, Feb 21, 2024 11:01 AM
ACCEDERE Consolidated December 2023 Net Sales at Rs 0.98 crore!
A Flip by Avya Verma
Ambuja Cements 4QFY24 cons. EBITDA was affected by weak cement pricing despite significant savings on P&F and freight costs. Mgmt. reiterated its target of cost savings of ~Rs500 per ton by FY28E driven by improving green power mix, captive coal mines, long term procurement of critical RM, and logistical synergies aided by addition of railway wagons and improving plant network across India.
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Gold prices on Friday (May 3) declined by ₹100 to ₹70,636 per 10 grams in futures trade on the Multi Commodity Exchange (MCX) as speculators reduced their positions. Analysts attributed the fall in gold prices to weak global cues and profit booking at higher levels. Globally, gold was trading 0.05% lower at ₹2,308.40 per ounce in New York.
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Federal Bank reported a mixed quarter; core PPoP miss of 7.9% led by opex drag, was offset by superior NIM (due to better liqudity management) and provision reversal of Rs1.17bn that led to core PAT beat of 12.6%. Part of provision write-back was adjusted against service fees which would normalise. Credit mix has improved YoY since retail share has risen by from 54% to 56%.
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