LIC's Q2 net profit falls 50% mainly on accounting changes
November 11th, 2023 09:27
In the first-half of FY23, the actual profit increased by 44.45% to ₹17,469 crore from ₹12,093 crores. This half-year profit incorporates an amount of ₹13,768 crore (net of tax), related to the accretions on the available solvency margin, transferred from the non-par fund to the shareholders' account. The Solvency Ratio, as of September 30, 2023, improved to 1.90 compared to 1.88.
Mamaearth shares snap losing streak after Jefferies rates it a 'Buy'
November 11th, 2023 09:27
"Honasa, better known through its flagship brand 'Mamaearth', enjoys a significant moat as a scaled-up internet-first franchise," said the brokerage's analysts Vivek Maheshwari, Kunal Shah and Jithin John in a note to clients. "The company has been able to transform itself into a house of brands with 33% of revenue now from newer brands."
Investors hit jackpot with 172 smallcap multibaggers in Samvat 2079. What next?
November 11th, 2023 09:27
Multibagger returns among the midcaps were lower, compared with the smallcaps, with just 9 companies rising over 100% in the last one year period. REC Ltd topped the charts in the midcap segment by delivering 247% returns in Samvat 2079, closely followed by IRFC (247%) and Power Finance Corp (240%).
Hindalco Q2 net flat, says Novelis on recovery path
November 11th, 2023 09:27
Revenue from the company's American subsidiary Novelis, which accounts for three-fifths of the consolidated revenue, declined more than a tenth to ₹33,961 crore. The American unit reported an EBITDA of ₹3,998 crore, down 1% year-on-year. "Novelis steadily continues on the recovery path," said Satish Pai, managing director, Hindalco. The company reported its highest-ever copper sales during the quarter.
Big Bullion Sale: Gold shines amid festive fireworks
November 11th, 2023 09:27
Sales of the worst affected mass-to-mid segment products across categories have also seen a slight improvement in this season with single-digit growth, according to companies, retailers and market researchers. The revival has been driven by urban and semi-urban markets, with the critical rural markets still showing no signs of a recovery.
Crude oil prices: Demand-supply dynamics not favourable for immediate recovery
November 11th, 2023 09:27
Despite the ongoing output cut by Saudi Arabia and other members of OPEC plus countries, oil output from the cartel has risen for the third straight month in October. This was due to increased production from Nigeria and Angola. Small members in the group have also contributed by managing to overcome factors affecting output and supply. As per the Reuters report, the group pumped 27.90 million bpd in September, with an increase of 180,000 barrels per day.
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