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Marico's shares surged 9.3% after a 20% rise in Q2 net profit to Rs 433 crore. Analysts maintained buy ratings, with target prices ranging from Rs 740 to Rs 800.
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Dipan Mehta, Director of Elixir Equities, expresses disappointment in the current earnings season, particularly highlighting the automotive sector's cyclical downturn. He advises holding onto stocks without increasing investment, and caution against new IPOs like Swiggy amidst market uncertainties. For companies like Ola Electric, he suggests waiting for clear profitability signals before considering investment.
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Shriram Properties' shares jumped 6.8% as the company signed a Joint Development Agreement for 6 acres of prime land in Pune. The planned mixed-use development will feature 650+ apartments and retail spaces, targeting a launch in H2-FY25, with potential revenue of Rs 700-750 crores.
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