Wed, Apr 17, 2024 5:28 PM
China's Zhengzhou city tells state-owned company to buy second-hand home
A Flip by Riya Sharma
ICICI Securities research report on Spandana Spoorthy FinancialSpandana Spoorthy’s (Spandana) core operating performance in Q4FY24 continued to be robust with AUM growth at 15% QoQ primarily led by new customer acquisition (up 12% QoQ) and sharp reduction in cost of borrowing to 11.7% vs 12.3%, thereby, driving 130bps QoQ NIM expansion, resulting in 11% QoQ growth in PPoP.
Open Flip
Investors seem to be staying on the sidelines amid the ongoing general election. While opinion polls favour the Bharatiya Janata Party-led National Democratic Alliance, investors are wary of a repeat of 2004, when the Indian stock market crashed after the Congress-led United Progressive Alliance won the election. That crash had led to a bear market that lasted around two years.
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ICICI Securities research report on Craftsman Automation (CFTM)’s Q4FY24 EBITDA came in at INR 2.1bn, down 6% QoQ (vs consensus estimate of INR 2.4bn). Powertrain (PT) segment’s EBITM at ~15% was ~300bps lower QoQ due to i) lower capacity utilisation on weaker off-take by domestic and global customers in CV segment, ii) development expenses for OHT/stationary engines segment.
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