Cipla is set to report a 3-6% revenue growth for the September quarter, as forecasted by four brokerages. The earnings for Q2FY25 will be announced on October 29, 2024. Estimates for net profit also show a potential increase of 4-5.7%. Different brokerages provided varying figures for revenue and profit expectations.
Reliance Share Price: Reliance Industries shares turned ex-bonus today with a 1:1 issue, marking its sixth and largest in Indian history. The stock has surged nearly 270% since the last bonus in 2017.
IndiGo Share Price: InterGlobe Aviation's IndiGo shares dropped 13% after reporting a 987 crore loss in Q2 FY2024, compared to a 189 crore profit YoY. Revenue rose 14% to 16,970 crore. Major reasons include aircraft groundings and high fuel costs. Analysts have adjusted target prices and ratings accordingly.
Clearly, a sell on rise approach has been visible so far, since the descent from September peak, during which there was hardly any period which witnessed higher highs. Such has been the bearish momentum during this period and all eyes are now on the 200-day SMA at 23372, which is about 3% from current levels.
Bank of Baroda's stock surged 4.6% following a 23.2% increase in standalone net profit for Q2FY25. NII grew by 7.3%, and non-interest income surged by 24.2% YoY. Analysts provide varied ratings with emphasis on stable asset quality and challenges in growth projections.
Brokerage firms IIFL and Jefferies recommend buying ICICI Bank, with target prices of Rs 1,480 and Rs 1,550, respectively. CLSA maintains an outperform rating on Bandhan Bank at Rs 240. Jefferies also rates IndiGo as a buy with a target of Rs 5,100, while HSBC rates Ola Electric at Rs 110, citing service improvements despite challenges.
We dont like to predict where the Nifty will go. We hope it does well, of course. But theres no way to predict. Its better, in our view, to respond to what takes it up or down.
Shares of ITD Cementation fell 7.7% after Adani Group announced plans to acquire a 73% stake for Rs 5,759 crore. An open offer will follow to buy an additional 26%. This acquisition will enhance Adani's EPC capabilities, marking its 12th acquisition this year.