Tue, Nov 5, 2024 4:34 PM
Futures calm as Wall Street braces for U.S. election day
A Flip by Shubhangi Gupta
Jeweller and watchmaker Titan Company's management reduced its EBIT margin guidance to 11-11.5 percent for FY2024-25, cutting it from the 11.5-12.5 percent band shared earlier."Given what we have done in H1, I think FY25 looks like more between 11 and 11.5 percent. Maybe we can go back to our original guidance for the next year," said Ashok Sonthalia, Titan's Chief Financial Officer.
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The union government on Tuesday proposed to sell up to 2.5% stake in Hindustan Zinc through an offer for sale (OFS), which opens on November 6. The floor price for the same is fixed at Rs 505 apiece, which is nearly 10% discount to the current market price. Under the OFS, the government will sell about 5.28 crore shares or 1.25% of equity with additional oversubscription option of 1.25% equity.
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Oil India reported its Q2 results on Tuesday evening. What Happened: Oil India reported a massive 464% year-on-year increase in standalone net profit to ₹1,834.07 crore. The company’s profit in the same quarter last year was affected by a one-time exceptional loss of ₹2,362 crore. The company’s revenue dipped 6.7% from the previous year to ₹5,518.95 crore.
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