Jefferies View on Hindustan UnileverResearch house maintained ‘buy’ rating on the stock and kept the target at Rs 3,100 per share.The company clarified that requisite regulatory approvals will be taken for royalty hike, while management justified that the increase based on benefits enjoyed by company.Overall Q3 was in-line, volume growth was ahead & home-care business outperformed, reported CNBC-TV18.
Market at 3 PMBenchmark indices erased some of the intraday losses but still trading lower with Nifty around 18000.The Sensex was down 188.51 points or 0.31% at 60669.92, and the Nifty was down 69.30 points or 0.38% at 18038.50. About 1452 shares have advanced, 1801 shares declined, and 127 shares are unchanged.
Blue Dart Express board appoints VN Iyer as acting interim Chief Financial Officer
Mr. V. N. Iyer, Sr. Vice President, Finance & Accounts of the Blue Dart Express, has been appointed as acting interim Chief Financial Officer and as Key Managerial Personnel (KMP) of the company.
Blue Dart Express was quoting at Rs 7,139.05, down Rs 61.50, or 0.85 percent.
Max Financial Services Large Trade | 16.53 lakh shares (0.48% equity) worth Rs 138.52 crore change hands at an average of Rs 838 per share.
Max Financial Services was quoting at Rs 835.20, down Rs 3.20, or 0.38 percent.
Heritage Foods Q3 Results:Heritage Foods has posted 32.5 percent fall in its Q3 net profit at Rs 13.7 crore against Rs 20.5 crore and revenue was up 17.8 percent at Rs 785.9 crore versus Rs 667 crore, YoY
Ramkrishna Forgings Q3 Earnings:
Ramkrishna Forgings has reported 34.6 percent jump in its Q3 net profit at Rs 61 crore versus Rs 45.3 crore and revenue was up 29.3 percent at Rs 777.5 crore versus Rs 601.3 crore, YoY.
Ramkrishna Forgings was quoting at Rs 265.30, down Rs 12.65, or 4.55 percent on the BSE.
Jubilant FoodWorks plans to add 3,000 Domino’s stores in next 12-18 months
Jubilant FoodWorks plans to add 3,000 Domino’s stores in next 12-18 months, and 40-50 stores for Popeyes India in next 12-18 months.
Under capex plan, Rs 900 crore will be funded entirely through internal accruals over a period for 12-18 months.
Jubilant Foodworks was quoting at Rs 511.85, up Rs 1.15, or 0.23 percent.
IndiaMART InterMESH clocked a massive 61% year-on-year growth in profit at Rs 113 crore for quarter ended December FY23, backed by other income that jumped 367% to Rs 102 crore for the quarter.
Revenue from operations grew by 34% YoY to Rs 251 crore driven by 24% increase in number of paying subscription suppliers and addition of Rs 10 crore revenue from accounting software services.
However, EBITDA declined 11% to Rs 70 crore and margin contracted 14 percentage points to 28% for the quarter compared to year-ago period.
Indiamart Intermesh was quoting at Rs 4,523, up Rs 46.30, or 1.03 percent on the BSE.
CLSA view on PVR
-Buy rating, target at Rs 2,430 per share
-PVR collections for top movies up 75 percent QoQ; PVR-Inox merger ahead
-Q3 revenue and EBITDA ahead of estimates
-Resurgence of top movies box office collections
-Strong content line-up in 2023; screen expansions, reported CNBC-TV18.
PVR was quoting at Rs 1,620.20, down Rs 58.50, or 3.48 percent on the BSE.
Hiren Ved of Alchemy Capital Management shares his Budget wish list
Speaking to CNBC-TV18
-Tax regime stability will send a signal to international investor community
-Rate change will be problematic, tenure change will be received better
-Market is a mechanism that discounts good & bad news
-Any tax rate change will be digested by the market
-We need a stable tax regime
-Deficit number is important, there will be a glide path to fiscal consolidation