HUL gets rating downgrades, target cuts after Q2 results

Brokers have revised their ratings, estimates and price targets on consumer packaged goods company Hindustan Unilever Ltd after the company’s second quarter results. Most brokers have turned cautious in their outlook and revised down earnings and target prices, only one, Antique Stock Broking, has downgraded significantly by moving their recommendation to ‘HOLD.’ The Q2 miss […]

ANALYSIS: HUL Delivers Strong Q2, Margin Expansion Despite Challenging Environment

Hindustan Unilever Ltd (HUL), India’s largest fast-moving consumer goods company, on Thursday reported a resilient performance for the second quarter of fiscal year 2023, beating analyst estimates on bottomline and operating profit. HUL’s net profit rose 4% year-on-year to Rs 2,717 crore, surpassing analyst expectations of Rs 2,570 crore. Net sales grew 4% to Rs […]

Iron Ore Exporters Like NMDC to Benefit as China Opens Up and Export Tariffs Removed

China’s reopening and the Indian government’s removal of export duties on steel, iron ore and pellets is set to benefit domestic iron ore producers like NMDC, allowing them to align domestic prices with global market trends and increase exports. China’s revival from COVID-led lockdowns will boost demand for imported iron ore in 2023. This bodes […]

Escorts Kubota Well Positioned for Growth With Kubota Partnership, Says Sharekhan

Escorts Kubota Limited (EKL), one of India’s leading tractor manufacturers, is poised for strong growth in the coming years, according to a new research report by Sharekhan. EKL, formed after the merger of Escorts Limited and Kubota Corporation of Japan, will benefit significantly from synergies and integration of the two entities, said Sharekhan in its […]

Metro Brands to pursue multi-brand, multi-channel strategy

Mumbai-based footwear retailer Metro Brands Ltd plans to pursue a multi-channel, multi-brand strategy for growth in coming quarters, the company told analysts from Nuvama Institutional Equities. Metro Brands operates over 600 stores across India for its flagship Metro branded outlets and other brands like Mochi, Walkway, Da Vinci and J Fontini. The company listed on […]

Bharat Forge Aims to Double Revenue in 3 Years on Defence, Auto Growth

Pune-based auto component major Bharat Forge is aiming to double its consolidated revenue to around $3.2 billion in the next 3-4 years, said analysts from InCred Equities after an interaction with the company management. The auto and engineering parts manufacturer is banking on strong growth prospects in the defence and aerospace sectors and with a […]

As India bans computer imports, Dixon Tech smells multi-billion opportunity

Homegrown electronics manufacturing services company Dixon Technologies is betting big on domestic IT hardware production under the government’s production-linked incentive (PLI) scheme. With approvals in place, Dixon is poised to manufacture laptops, tablets, all-in-one PCs and servers in India. Dixon started operations in 1993, commencing with the assembly of colour televisions. Over the years, the […]

Kotak Institutional Equities Stays Negative on Vedanta Amid High Leverage Risks

Kotak Institutional Equities has reiterated its sell rating on diversified metals & mining company Vedanta Ltd, citing significant leverage concerns for the parent Vedanta Resources Ltd (VRL). In a note on Tuesday, Kotak trimmed the fair value estimate for Vedanta to Rs 200 per share from Rs 215 earlier. The stock is trading at around […]

Even As China Stumbles, Indian Economy Shows No Signs Of A Slow Down

India’s manufacturing and services sector activity continued to expand at a robust pace in August 2022, as per the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI rose to 58.6 in August from 57.7 in July, while the services PMI moderated slightly to 60.1 from 62.3 in the previous month. Nevertheless, the strong PMI […]

Banks beat IT cos in 2021 job growth, media sees biggest fall

Industries such as banking and financial services and insurance (BFSI), and production and manufacturing showed the highest growth in hiring activity in 2021, while media and construction segments showed the biggest declines, said India in its annual trends analysis. The BFSI and the manufacturing sectors both saw hiring rise by 31%, while telecom witnessed […]

Reliance Industries raises $4 bln in largest dollar bond issue from India

Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]

TCS, Airtel take a step towards human-less factories

Tata Consultancy Services and Bharti Airtel said they tested a 5G-enabled and automated manufacturing set-up using the trial 5G spectrum allocated by Department of Telecom. Called ‘Neural Manufacturing Suite’, the technology aims to implement a ‘lights out’ factory set-up, in which the factory produces everything by itself without human or worker supervision or intervention. This […]

Promoters to sell stock to supply working capital to Marshall Machines

Industrial automation player Marshall Machines said its promoters will sell around 3.4% of the company to raise capital to meet the company’s working capital needs. The promoters currently hold around 73.4% of the total outstanding shares, which will come down to 70% by the end of the exercise. A 3.4% stake in the company is […]