ABB India's shares fell 3.7% after reporting a 20.7% YoY decline in net profit to Rs 351.7 crore for Q2CY25, despite a revenue increase of 11.8%. The company's EBITDA also decreased by 23.7%, with a contracted margin. Weak order inflows, attributed to cyclical corrections and subdued market conditions, impacted the overall performance, although the order backlog crossed Rs 10,000 crore.
PC Jeweller shares: To speed up its deleveraging efforts, PC Jewellers board approved a 500 crore fundraise in July from promoters and Capital Ventures Pvt Ltd. In addition, the company is expected to receive 1,300 crore through the conversion of warrants into equity shares by promoters and other investors.
Seth R Freeman of GlassRatner Advisory notes India's role in stabilizing oil prices by purchasing discounted Russian oil amidst tariff announcements. He anticipates continued market volatility due to labor market adjustments, tariffs, and political news, especially with low summer trading volumes. An expected increase in global oil supply may further pressure prices, potentially leading to a price decline.
Cholamandalam Investment reports vehicle finance disbursement grew by 7%. Assets under management increased by 18%. Home loan AUM saw a 33% year-on-year rise. The company maintains its AUM growth target of 20-25% for the full year. Borrowing plans involve raising Rs 7,000-10,000 crore monthly. Gold loan business expands to 120 branches by Q2.
