Times Top News

Times Top News

Marksans Pharma zooms to record high; stock up on strong Q1 results

Marksans Pharma zooms to record high; stock up on strong Q1 results

by | Aug 14, 2024 | Share Market


2 min read Last Updated : Aug 14 2024 | 2:10 PM IST

Shares of Marksans Pharma hit a record high of Rs 217, as they surged 16 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes after the company reported strong earnings for the June 2024 quarter (Q1FY25).

At 01:49 pm; the stock was trading 15 per cent higher at Rs 216.35, as compared to 0.24 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined 16 million shares changed hands on the NSE and BSE.


The pharmaceutical company posted 18 per cent year-on-year (YoY) increase in revenue at Rs 590.60 crore and 26 per cent YoY increase in earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 128.4 crore. EBITDA margin improved to 21.7 per cent from 20.4 per cent in Q1FY24. Profit after tax jumped 26.5 per cent YoY at Rs 89.1 crore.


The US & North America Formulation business reported growth of 29.8 per cent YoY to Rs 250.90 crore in Q1FY25, on account of incremental revenue from new product launches, and increase in the share of existing customers. The company said 32 products are in the pipeline, of which 20 are oral solids and 12 are ointments and creams. Within oral solids, 4 are Softgels.


The management said the growth during the quarter was supported by increase in share from existing customers and new launches. The company experienced favorable raw material prices, however, surge in freight costs continue.


The shipments from the new facility have commenced to the company’s key markets, and with that the management remains optimistic for a stronger performance in the coming quarters, and journey towards achieving the next revenue goal of Rs 3,000 crore over the next two years.


Marksans Pharma is engaged in research, manufacturing & marketing of generic pharmaceutical formulation in the global markets. The company’s manufacturing facilities are approved by several leading regulatory agencies including the USFDA, UKMHRA and Australian TGA. The company’s robust product portfolio spreads over major therapeutic segments of CVS, CNS, Antidiabetic, Pain Management, Gastroenterological and Anti-allergies. The company is marketing these products globally.

First Published: Aug 14 2024 | 2:10 PM IST



Source link

Landmark Cars slips after Q1 PAT slumps 55% YoY in FY25

Landmark Cars slips after Q1 PAT slumps 55% YoY in FY25

by | Aug 14, 2024 | Share Market


Last Updated : Aug 14 2024 | 12:50 PM IST

Landmark Cars declined 5.16% to Rs 569.35 after the company’s consolidated net profit dropped 54.84% to Rs 3.17 crore in Q1 FY25 as compared with Rs 7.02 crore in Q1 FY24.

Revenue from operations jumped 19.89% YoY to Rs 831.97 crore in Q1 FY25.

Profit before tax (PBT) fell 52.36% to Rs 4.74 crore in Q1 FY25.

EBITDA stood at Rs 49.8 crore in Q1 FY25, registering the growth of 6.55% as compared with Rs 46.7 crore posted in corresponding quarter last year. EBITDA margin was 5.99% in Q1 FY25 as against 6.74% in Q1 FY24.

The company said that it posted satisfactory growth in both revenue and profitability from existing outlets. This was achieved inspite of temporary disruption in the PV market due to General elections.

Proforma revenue jumped 24.57% YoY to Rs 1,163.9 crore in Q1 FY25.

During the quarter, average selling price for new vehicle sold at Rs 21.50 Lakh as compared with Rs 19.10 Lakh recorded in corresponding quarter last year.

Upcoming new car launches e.g the new Mercedes E class, MG Windsor, M&M Thar Roxx will further drive momentum over the next few months, the company stated in exchange filing.

Landmark Cars is the leading premium automotive retail business in India with dealerships for Mercedes Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India. The company has its presence across the automotive retail value chain, including sales of new vehicles, after-sales service and repairs, sales of pre-owned passenger vehicles and facilitation of the sales of third party financial and insurance products.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Aug 14 2024 | 12:40 PM IST



Source link

Piramal Enterprises stock tumbles 10% post June quarter results

Piramal Enterprises stock tumbles 10% post June quarter results

by | Aug 14, 2024 | Share Market


Piramal Enterprise (Source/Wikipedia)

3 min read Last Updated : Aug 14 2024 | 11:53 AM IST


Shares of Piramal Enterprises plunged 10 per cent to Rs 882.85 on the BSE in Wednesday’s intra-day trade after the company reported 64 per cent year-on-year (YoY) decline in consolidated net profit at Rs 181 crore for the June 2024 quarter (Q1FY25), owing to a one-time gain of Rs 855 crore accrued in Q1FY24 due to a stake sale in a Shriram Group entity. Sequentially, the profit was up 32 per cent from Rs 137 crore in March 2024 quarter (Q4FY24).


The net interest income of the company rose by 18 per cent YoY to Rs 807 crore from Rs 681 crore in Q1FY24, while other income grew by 33 per cent YoY to Rs 58 crore. The company also made an exceptional gain of Rs 104 crore from gross AIF recoveries during the quarter under review.


The net interest margin (NIM) of the finance company dropped to 6.7 per cent compared to 7.3 per cent in the last year. The total assets under management (AUM) of the company grew by 10 per cent to Rs 70,576 crore over the corresponding year-ago period, supported by double-digit growth in the legacy book of the company.


Management targets to reduce legacy AUM to <10 per cent of total AUM by end FY25. Motilal Oswal Financial Services (MOFSL) believes that this will entail elevated credit costs in FY25. The company pointed out that it has management overlay of ~Rs 690 crore on the legacy AUM, expects gains of ~Rs 1,200 crore from AIF over FY25, and residual stakes in Shriram Life and General Insurance will be monetized. 


It will look to opportunistically take the credit cost impact of running down the legacy AUM on P&L when there are one-off gains from the pockets of opportunity in its legacy business, the brokerage firm said.


MOFSL estimates a total AUM CAGR of ~24 per cent and a ~36 per cent CAGR in Retail AUM over FY24-FY26E. While its growth business (excluding one-off gains and exceptional items) is showing signs of improvement, it will still take at least 12-15 months for it to mitigate the earnings and credit costs impact of an accelerated decline in the legacy AUM, the brokerage firm said with a ‘Neutral’ rating on the stock.


“Pockets of opportunity, which we earlier thought will be utilized for some inorganic acquisition in retail businesses or for strengthening the balance sheet, will potentially be utilized to run down the stressed legacy AUM. We do not see catalysts for any meaningful improvement in the core earnings trajectory of the company,” analysts at MOFSL said.

 

 

First Published: Aug 14 2024 | 11:53 AM IST



Source link

Hero MotoCorp shares fall over 4%, despite strong Q1FY25 results; Details

Hero MotoCorp shares fall over 4%, despite strong Q1FY25 results; Details

by | Aug 14, 2024 | Share Market


2 min read Last Updated : Aug 14 2024 | 10:49 AM IST

Hero MotoCorp shares fall: Shares of Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, tumbled 4.72 per cent to Rs 4,992.60 on the BSE during early trade on Wednesday, despite the company posting a massive surge in its consolidated net profit for the first quarter of FY25.


Hero MotoCorp’s consolidated net profit in Q1 FY25 climbed 47.3 per cent Year-on-Year (Y-o-Y) to Rs 1,032 crore, primarily due to a sharp recovery in the 110-125 cc motorcycle segment after the launch of Xtreme, strong demand for its electric scooter Vida, and the promising condition of the overall economy.


The company’s consolidated total income jumped 15 per cent Y-o-Y to Rs 10,435.6 crore in the first quarter of FY25.


Niranjan Gupta, Chief Executive Officer (CEO) of Hero MotoCorp, said, “We continue to be on a profitable growth journey, crossing Rs 10,000-crore revenue for the first time ever, accompanied by the highest ever underlying profit after tax (in Q1). Overall, we are optimistic about the demand trajectory for the coming quarters. Our product launches and strategic initiatives are well‐aligned to capitalize on this positive market environment, ensuring continued growth and value creation for all our stakeholders.”


Headquartered in Delhi, Hero MotoCorp is a multinational motorcycle and scooter manufacturer. The company dominates the Indian market with a significant share of about 46 per cent. As of August 14, 2024, Hero MotoCorp commands a market capitalization of Rs 1,00,187.48 crore on the BSE and is a constituent of the BSE 100 index.


BSE analytics reflect that the company’s shares have offered a return of 21.63 per cent Year-to-date.


Hero MotoCorp shares have fallen 9.75 per cent in the last month, while advancing 4 per cent in the last six months and 66.44 per cent in the last one year.


The company’s shares have a 52-week range of Rs 5,894.30 – 2,889.40 on the BSE.


At around 10:30 am, shares of Hero MotoCorp were quoted at Rs 5,014.85, down 4.30 per cent from their previous close of Rs 5,240.45 on the BSE.

First Published: Aug 14 2024 | 10:48 AM IST



Source link

Landmark Cars slips after Q1 PAT slumps 55% YoY in FY25

Barometers edge higher in early trade; breadth negative

by | Aug 14, 2024 | Share Market


Last Updated : Aug 14 2024 | 9:50 AM IST

The headline equity benchmarks trade near flatline with minor gains in early trade. The Nifty traded above the 24,100 level. IT and auto shares advanced while realty, FMCG and media shares declined.

At 09:27 IST, the barometer index, the S&P BSE Sensex, was up 13.83 points or 0.02% to 78,969.86. The Nifty 50 index added 2.80 points or 0.01% to 24,141.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.03% and the S&P BSE Small-Cap index shed 0.25%.

The market breadth was negative. On the BSE, 1,369 shares rose and 1,526 shares fell. A total of 128 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,107.17 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,239.96 crore in the Indian equity market on 13 August 2024, provisional data showed.

Stocks in Spotlight:

Hero MotoCorp declined 1.67%. The companys consolidated net profit climbed 36% to Rs 1,122.63 crore during the quarter as compared with Rs 824.72 crore in Q1 FY24. Revenue jumped 15.7% YoY to Rs 10,143.73 crore in Q1 FY25.

NBCC (India) advanced 1.90% after the companys consolidated net profit jumped 38% to Rs 107.19 crore in Q1 FY25 as compared with Rs 77.41 crore posted in corresponding quarter last year. Revenue climbed 11.3% YoY to Rs 2,144.16 crore during the quarter.

Apollo Hospitals Enterprise rose 0.59%. The company reported 82% increase in consolidated net profit to Rs 315.50 crore in Q1 FY25 as compared with Rs 173.40 crore in Q1 FY24. Revenue increased 15.1% YoY to Rs 5,085.60 crore in Q1 FY25.

Numbers to Track:

The yield on India’s 10-year benchmark federal paper was up 1.61% to 6.991 as compared with previous close 7.005.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.9150, compared with its close of 83.9700 during the previous trading session.

MCX Gold futures for 5 September 2024 settlement fell 0.15% to Rs 70,250.

The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies rose 0.09% to 102.65.

The United States 10-year bond yield was flat at 3.857.

In the commodities market, Brent crude for October 2024 settlement grew 46 cents or 0.57% to $81.15 a barrel.

Global Markets:

Most Asian stocks advanced on Wednesday, buoyed by Wall Street’s rally following upbeat US inflation data. This strengthened expectations that the Federal Reserve could initiate monetary easing as early as September.

New Zealand’s dollar tumbled after the central bank unexpectedly cut interest rates by 25 basis points to 5.25%.

Chinese equities declined as data revealed a contraction in bank loans to the real economy for the first time in 19 years. Investors are eagerly awaiting earnings results from Tencent Holdings and details of its planned share buyback.

US stocks surged on Tuesday, nearing recent record highs, after a milder-than-expected producer price index (PPI) report. The Dow Jones Industrial Average gained 1.04%, the Nasdaq Composite jumped 2.43%, and the S&P 500 climbed 1.68%.

The PPI, a measure of wholesale inflation, rose 0.1% last month. This data buoyed investor sentiment ahead of Wednesday’s more closely watched consumer price index (CPI) report, which is expected to show a modest increase of 0.2% month-over-month.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Aug 14 2024 | 9:36 AM IST



Source link

Silver prices remain vulnerable amidst weakness in industrial commodities

Silver prices remain vulnerable amidst weakness in industrial commodities

by | Aug 14, 2024 | Share Market


4 min read Last Updated : Aug 14 2024 | 8:47 AM IST


Spot silver was trading with a loss of around 1 per cent at $27.72 at the time of the MCX closing. Silver fell despite a sharp decline in the US yields and a weaker US Dollar. MCX September silver contract at Rs 81,110 (LTP) was down around 0.55 per cent. Weakness in silver could be attributed to weakness in outside markets, especially industrial commodities. Most of the commodities fell despite largely softer than expected US PPI data (July). 


Data roundup: US PPI largely softer than expected 


US PPI rose in July at a slower than expected pace as the services costs declined for the first time this year. The PPI for final demand (July) was up 0.10 per cent m-o-m Vs the forecast of 0.20 per cent increase. The PPI ex food and energy was unchanged (forecast +0.20 per cent) in July, which is the slowest pace since March. Services costs fell by 0.20 per cent; however, prices of goods increased 0.60 per cent, the most since February. PPI Ex food and energy data rose 2.40 per cent y-o-y (forecast 2.60 per cent) as compared with 3 per cent in June. PPI final demand rose 2.20 per cent y-o-y (forecast 2.30 per cent). However, PPI ex food, energy and trade at 0.30 per cent m-o-m was hotter than the estimate of 0.20 per cent. Similarly, PPI ex food, energy and trade at 3.30 per cent was hotter than estimate of y-o-y basis, too. 


The UK’s monthly job report for June was mixed as unemployment rate fell from 4.40 per cent in June to 4.20 per cent in July (forecast 4.0 per cent), though jobless claims surged to 135K in July from 36.20 in June. The Euro-zone’s ZEW survey expectations (August) came in at 19.20, which trailed the forecast of 34. 


US Yields and the Dollar Index: US 2-year yields back below 4 per cent


The US Dollar Index and the yields slumped on mostly softer than expected US PPI data (July). The ten-year US yields were down 1.29 per cent to 3.86 per cent on largely subdued US PPI data. The two-year US yields were back 4 per cent as the yields dipped over 1.50 per cent to 3.96 per cent. Consequently, the US Dollar Index slid 0.40 per cent to 102.72, the lowest since August 5. Improved risk appetite also weighed on the US Dollar Index. 


ETFs and inventory: Mixed


Total known silver ETF holdings rose to 717.172 MOz on August 12 from 716.497 MOz on August 9. Meanwhile, COMEX silver inventory rose to 303.34 MOz on August 12 from 302.400 MOz on August 9; thus, the COMEX inventory continues to be around the highest level since July 2022. 


Upcoming data: US CPI data crucial


Today’s US data on tap include crucial CPI inflation (July). The UK’s CPI data (July) will also be released today.  The Euro-zone’s second quarter GDP growth rate, employment and industrial production data will also be on the deck today. 


The UK’s second quarter GDP growth rate and Chinas retail sales, industrial production and home prices data will be released on August 15. US Retail sales advance (July), import price index, industrial capacity and weekly jobless claims data will be released on August 15. 


Outlook


Silver continues to lag gold as investors are concerned about the global economy, especially the Chinese and the US economies. Gold/Silver ratio has surged sharply higher from around 72 seen a few days back to around 90. Silver is following mostly industrial commodities rather than gold. So, silver may continue to remain under pressure if industrial commodities are weak. Nonetheless, investors are expected to buy the dips in the metal ahead of the US CPI data and Jackson Hole Symposium, which will held on August 22-24. 


Extreme volatility is expected in the counter on US CPI and retail sales data. Indian traders need to exercise caution as US retail sales data will be released on August, a public holiday for the Indian bourses. 

Support is at $27.22 (MCX September silver contract Rs 79,600)/$26.45 (Rs 77,400) /$26.15 (Rs 76,500). Resistance is at $28.31 (Rs 82,800) /$28.41 (Rs 83,100) /$28.84 (Rs 84,400) /$29.32 (Rs 85,800).


Disclaimer:Praveen Singh is Associate Vice President of Fundamental Currencies and Commodities at Sharekhan by BNP Paribas. Views expressed are his own.

First Published: Aug 14 2024 | 8:47 AM IST



Source link

About-us

Privacy Policy

Email: hansrajagrawalakola@gmail.com

YouTube
Instagram
WhatsApp