Fri, Apr 26, 2024 7:24 PM
Vivakor And 2 Other Stocks Under $5 Insiders Are Buying
A Flip by Avya Verma
Shares of Hindalco were slumping on Tuesday as the company’s subsidiary Novelis posted its earnings for the quarter ended March. What Happened: The company’s net sales decreased 7% year-on-year to reach $4.1 billion (around ₹33,600 crore) for the fourth quarter of fiscal year 2024, driven by lower average aluminium prices, partially offset by higher total shipments.
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Emkay Global Financial's research report on Birla CorporationBirla Corp’s Q4FY24 consolidated EBITDA came 14-19% higher than consensus/our estimate, it grew 73% YoY/25% QoQ to Rs4.7bn. Blended EBITDA/t grew 8% QoQ to Rs974. The beat was mainly owing to better realizations (declined 2% QoQ). Volume growth was steady at 9% YoY to 4.9mt (in line with estimates), aided by positive ramp-up.
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Emkay Global Financial's research report on Indian BankIndian Bank yet again posted a strong all-around performance, delivering inline PAT at Rs22.5bn/1.2% RoA, on the back of healthy margins (up by 4bps QoQ to 3.44%) and steady improvement in asset quality, with GNPA ratio down to 4%/NNPA to industry-low of 0.4%. Though the banking sector will contest the recent RBI draft IRACP guidelines.
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