Fri, Jul 5, 2024 3:06 PM
Dhanlaxmi Bank Q1 Update: Stock gains after deposits rise
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MM Forgings reported a 4.1% year-over-year revenue growth in Q4FY24, reaching Rs 1,527.08 crs in FY24, with exports surging 15% due to higher overseas demand. The company's operating profit rose 18% to Rs 75.26 crs, driven by better raw material prices and an improved product mix. The company aims to overcome increased power costs by using renewable energy and is shifting its focus.
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Emkay Global Financial's research report on Marico notes that the company's fundamentals are improving, driven by distribution expansion, portfolio enrichment, and margin enhancement. However, with valuations at 43x FY26E P/E, they maintain a "REDUCE" rating with a target price of Rs630/share. The report expects 10%/12% CAGR in net sales/earnings over FY24-27E, with 7%/8% YoY growth in revenue.
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Industry groups and experts have made seven key recommendations, 📌including tax cuts for lower-income tiers, 📌raising wages under rural job guarantee plans, and 📌abolishing export restrictions on farm products to boost rural earnings and 📌consumption. They also suggest streamlining India's complex tax frameworks, simplifying the capital gains tax scheme, and reforming GST.
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