Tue, Oct 22, 2024 4:05 PM
Futures under pressure as earnings loom; yields rise
A Flip by Shubhangi Gupta
TVS Motor is expected to announce its Q2 results on Oct 23. TVS Motor is expected to see its net profit rise 27% to ₹684.58 crore in the Sept quarter. The two wheeler major’s revenue might come at ₹9,469.36 cr, increasing by 16% while EBITDA might come at ₹1,102.16 crore, a 27% increase. In the previous year, TVS Motor reported net profit of ₹536.6 cr, ₹8,144.6 cr revenue and ₹824.4 cr EBITDA.
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Thrissur-based gold lender Dhanlaxmi Bank has announced a proposed rights issue to raise up to ₹300 crores (approximately $36 million) by issuing equity shares to its existing eligible shareholders. The decision was made during a board meeting held on October 22, 2024. This rights issue aims to strengthen the bank's capital base and is part of a broader strategy to enhance financial stability.
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💰Top Gainers: Poly Medicure (up 3.50%), Varun Beverages (up 2.78%), Hindustan Zinc (up 2.37%), Tube Investments Of India (up 2.08%), City Union Bank (up 11.77%) 💰Top Losers: Aditya Birla Real Estate (down 9.72%), HFCL (down 7.48%), Finolex Industries (down 7.44%), NLC India (down 7.21%), Punjab National Bank (down 7.18%)
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