Market Bizzz

With the product pipeline continuing to advance, and execution of growth drivers proceeding as planned, the company is confident that its fundamental strengths position it to create an upward trajectory, Vice-Chairman and Managing Director K Nithyananda Reddy said.

Some of the IPOs, the hospital IPO Yatharth that you talked about are ones which really bring in value to the table for many of the investors. Even SBFC is kind of a good IPO in a sector more than the company itself, it is a sector which is taking prominence particularly where we are coming out of a COVID situation where the credit growth is expanding by leaps and bounds, according to Mahantesh Sabarad, Market Expert

Commenting on the result, Managing Director Suvamoy Saha said: “It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress.

The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40.7% YoY to Rs 199 crore. The EBITDA margins expanded 250 basis points YoY to 25.1%

The net profit was pulled down by Apollo Healthco’s digital health platform 24×7 that reported a loss of Rs 83 crore. Apollo said Healthco is on track for break even in Q4 FY24.

Revenue for the April-June quarter fell 20% year-on-year to Rs 33,814 crore. The average oil price realized from nomination fields was 29.5% down from a year earlier to $ 76.49 per barrel during the quarter. In rupee terms, the realization was 25% lower at Rs 6,288 per barrel. Oil price realization from joint venture fields fell 31% to Rs 5,808 per barrel

HDFC Asset Management, IDFC First Bank, Ashok Leyland, Astral, Cummins India Kirloskar, REC, Power Finance Corporation, and Supreme Industries will enter the MSCI Global Standard index, effective August 31. ACC will be removed from the Global Standard index, the index aggregator said.

Gold prices have slid about 1.4% for the week so far as the U.S. dollar index and benchmark 10-year Treasury bond yields were both on track for their fourth consecutive weekly gain.