Fri, Nov 8, 2024 10:33 AM
Fed rate cut amid Trump victory raises new inflation, policy uncertainties
A Flip by Shubhangi Gupta
Astral's Q2FY2025 earnings missed estimates due to lower plumbing volumes and weak UK adhesives performance, prompting management to revise plumbing volume growth guidance to 10-15% y-o-y. Despite this, the company retained its 16-18% OPM guidance, and Astral's BUY rating stands with a revised PT of Rs. 2,150.
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Swiggy Ltd.'s initial public offering (IPO) reached 85% subscription so far on November 8, the third and final day of bidding. Investors bid for 13.57 crore shares as against the 16.01 crore on offer. The retail individual investor (RII) category saw 95% subscription of its allocated portion, while the qualified institutional buyer (QIB) segment was fully subscribed, at 1.14 times.
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Cochin Shipyard share price hit the lower circuit on November 8 after after the higher costs dented the company's Q2 margins. The stock has dropped over 50 percent from its peak. The earnings before interest, tax, depreciation, and amortisation (EBITDA) margin stood at 17.3 percent in the quarter under review for the current fiscal.
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