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UPL shares surged 5% to Rs 636.45 on strong Q3 results, driven by agrochemical demand recovery. Investec upgraded UPL to buy with a Rs 700 target, while Nuvama raised its target to Rs 705. Management expects 50% YoY EBITDA growth, citing margin recovery, debt reduction, and improved business conditions.
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So, the deception due to tariffs is because of two things. One, tariffs have been imposed, they were being talked of, people were thinking they might get postponed but they were not.
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Hiren Ved, Director & CIO of Alchemy Capital, highlights the ongoing significance of India's manufacturing story, and how the recent Budget supports middle-class consumption. He emphasizes the balanced approach between capex, consumption, pharma, and tech sectors. The Budget's focus on discretionary consumption, especially in autos, retail, real estate, and tourism, is likely to drive positive market reactions.
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