Morning Scan: All the big stories to get you started for the day
Thu, Feb 1, 2024 9:02 AM

Morning Scan: All the big stories to get you started for the day

A Flip by Shubhangi Gupta
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πŸ‘‰ Equity benchmarks rebound ahead of interim budget. πŸ‘‰ Government expected to focus on debt reduction and infrastructure spending in interim budget before elections. πŸ‘‰ Reserve Bank bars Paytm Payments Bank from accepting deposits or offering banking services due to non-compliance. πŸ‘‰ Burman family increases stake in Religare Enterprises, could gain control through open offer.

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Buy Sunteck Realty; target of Rs 700: Prabhudas Lilladher

Buy Sunteck Realty; target of Rs 700: Prabhudas Lilladher

Sunteck Realty reported strong pre-sales and collections in Q3, driven by its ability to market ultra-luxury projects and aggressive land acquisition in Mumbai. The company is expected to grow presales by 35% CAGR over FY24-27E, with a strong new launches pipeline and JV with IFC, supporting its 'Buy' rating with a target price of Rs. 700/share.

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Tata Tech Consolidated December 2024 Net Sales at Rs 1,317.38 crore

Tata Tech Consolidated December 2024 Net Sales at Rs 1,317.38 crore

Reported Consolidated quarterly numbers for Tata Technologies are: Net Sales at Rs 1,317.38 crore in December 2024 up 2.17% from Rs. 1,289.45 crore in December 2023. Quarterly Net Profit at Rs. 168.64 crore in December 2024 down 0.93% from Rs. 170.22 crore in December 2023. EBITDA stands at Rs. 261.64 crore in December 2024 down 2.1% from Rs. 267.25 crore in December 2023.

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Finolex Industries Q3 PAT may dip 8.8% YoY to Rs. 87 cr: PL Capital

Finolex Industries Q3 PAT may dip 8.8% YoY to Rs. 87 cr: PL Capital

PL Capital has come out with its third quarter (October-December’ 24) earnings estimates for the Building Material sector. The brokerage house expects Finolex Industries to report net profit at Rs. 87 crore down 8.8% year-on-year (up 113.9% quarter-on-quarter). Net Sales are expected to decrease by 2.8 percent Y-o-Y (up 19.7 percent Q-o-Q) to Rs. 991.6 crore, according to PL Capital.

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