The Nifty Pharma index is near its 52-week high and has seen impressive returns of over 60% in the past year. It is currently overbought but could still have potential for upward movement, according to experts. Biotech giants like Biocon, Dr Reddy's, and Cipla offer attractive valuations and potential upside. The index is expected to outperform the broader market.
Open FlipIndia's sugar production has decreased by 2.48% in the current marketing year, with a projected decline of 10% for the entire year. Production in key states like Maharashtra, Karnataka, Gujarat, and Tamil Nadu has been lower. However, Uttar Pradesh saw an increase in sugar output. 505 factories were operating as of February 15, with 22 closing operations in Maharashtra and Karnataka.
Open FlipThe Investment Trust of India reports positive consolidated quarterly results in December 2023. Net sales increased by 0.39% while net profit saw a significant increase of 2435.08%. EBITDA also rose by 147.78% and EPS increased from Rs. 0.05 to Rs. 1.15. The company's shares have seen strong growth over the past 6 and 12 months. Additional details on expenditure, taxes, and shareholding.
Open FlipPrismx Global Ventures Limited reported its quarterly results for December 2023, showing a decrease in net sales to Rs. 2.73 crore, down by 61.6% from the previous year. However, their net profit increased by 148.02%, reaching Rs. 1.46 crore. EBITDA also saw an increase of 158.55%. The company's EPS has gone up from Rs. 0.70 to Rs. 0.03.
Open FlipInsecticides India reported its quarterly results for December 2023, with a net sales of Rs. 357.94 crore, representing a 0.4% increase from the same period in 2022. Net profit also saw a significant increase of 31.41%, reaching Rs. 12.31 crore. EBITDA increased to Rs. 27.23 crore, a 15.23% rise from the previous year.
Open FlipArchean Chemical Industries reported a 13.07% increase in net sales at Rs. 412.63 crore in December 2023 compared to the same period in 2022. Net profit also increased by 3.54%. However, EBITDA decreased by 7.61% and EPS decreased from Rs. 8.75 to Rs. 8.24. Shareholders saw a 20.38% return over the past 6 months and 3.
Open FlipVarun Beverages reported strong quarterly numbers for December 2023, with net sales increasing by 20.48% and net profit rising by 76.55% compared to the same period in 2022. EBITDA also saw a significant increase of 34.93%. However, their EPS decreased from Rs. 1.15 to Rs. 1.02. Varun Beverages' shares closed at Rs 1,423.05 on February 16.
Open FlipGujarat Alkalies and Chemicals reported a decrease in net sales and net loss for the quarter ending December 2023 compared to the same quarter in 2022. EBITDA also decreased significantly. The company's shares have seen positive returns over the last 6 and 12 months. Promoters and promoter group do not hold any shares.
Open Flip"IREDA and PNB signed an MoU to collaborate on financing renewable energy projects in India, aiming to support the country's goal of achieving 500 GW of non-fossil-fuel-based electricity generation by 2030. This partnership will streamline access to finance for developers and improve the financial management of project funds."
Open FlipICICI Direct, Rupee on Friday hovered in a tight range and ended little changed as dollar demand from importers worn the impact of supportive global cues. Dollar retreated amid concerns about strength of the US economy. Sell USDINR; target of : 82.90 : February 19, 2024: ICICI Direct. Indian currency market will remain closed today on account of holiday.
Open FlipInvestors have shown confidence in fintech company One 97 Communications, which owns Paytm, as positive news flows have boosted its stock by locking in two consecutive 5% circuits. Reasons for the rally include an RBI extension for PPB, a partnership with Axis Bank, clarity on non-PPBL merchants, and the absence of FEMA violations by ED. Jefferies has changed their rating to 'not rated'.
Open FlipDelhivery reported its consolidated quarterly financial results for December 2023, showing an increase in net sales by 20.32% to Rs. 2,194.47 crore and a significant rise in net profit by 105.98%, reaching Rs. 11.71 crore. The company's EBITDA also saw a significant increase of 1043.57% to Rs. 240.15 crore. EPS increased to Rs. 0.16.
Open FlipGold And Silver Prices Today: Gold prices experienced a slight increase on Monday. The cost of 24 carat gold is Rs.63410.0 per 10 gm, up by Rs.679.0. The cost of 22 carat gold is Rs.5808.4 per 10 gm, up by Rs.622.0. The price change in 24 carat gold in the last one week has been -0.18%, whereas in the last month it has been 0.88%. The cost of silver is Rs.76400.0 per kg, up by Rs.800.0 per kg.
Open FlipOn Monday, Indian government bond yields fell ahead of inflation data this week. Economists predict a decrease in both retail and core inflation, but the RBI is unlikely to cut interest rates soon due to inflation above target. Last week, the RBI kept rates unchanged, emphasizing the challenge of achieving 4% inflation. In the US, Treasury yields remain high before key inflation data on Tuesday.
Open FlipIPPB aims to achieve a 30% growth in new customers by the end of this year. They have already crossed 8.5 crore customers and are adding daily customers in six-digit numbers. The focus is on reaching out to the unbanked and underbanked through the network of the Department of Posts. IPPB plans to launch FASTag services in a few months and is also expanding into insurance distribution.
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