Emphasizing the increasing consumption and importance of man-made fibres and technical textiles in all spaces of life, at both a global and domestic level, Union Minister of Textiles, Giriraj Singh has expressed confidence that India’s technical textile exports will cross the target of $10 billion set for 2030. The Union Minister further stated that the … Read more
Indian electric two wheeler-maker Ather Energy has filed for an IPO consisting of a fresh issue of shares worth 31 billion rupees ($369.4 million), it said in a draft filing on Monday. Backed by Indian bike-maker Hero MotoCorp, Ather makes electric scooters and competes with recently-listed Ola Electric. Investors and some top shareholders will sell … Read more
After the sharp reduction in import duty announced in the Union Budget, the revenues of organised gold jewellery retailers will increase 22-25 per cent this fiscal (year-on-year) — a solid 500-600 basis points (bps) more than the 17-19 per cent expected earlier, a report showed on Monday. The incremental growth will be driven by higher … Read more
Operationally in-line quarter; broad-based growth across segments Efforts under way to resolve regulatory issue/scale up Pen-G production Aurobindo Pharma (ARBP) delivered in-line operational performance in 1QFY25. The robust execution across key markets was partly offset by seasonality and higher remediation costs for the quarter. * We largely maintain our estimates for FY25/FY26. We value ARBP … Read more
Waaree Renewable Technologies is currently trading at Rs. 1460.90, up by 23.20 points or 1.61% from its previous closing of Rs. 1437.70 on the BSE. The scrip opened at Rs. 1437.00 and has touched a high and low of Rs. 1500.00 and Rs. 1405.00 respectively. So far 137890 shares were traded on the counter. The … Read more
Indian rupee strengthened against the US dollar on Monday tracking firm domestic equities, while the Reserve Bank of India's active intervention also helped the rupee’s up-move. Meanwhile, RBI data showed India's forex reserves jumped by Rs 19,295 crore ($2.299 billion) to a new high of Rs 57,40,839 crore ($683.987 billion) for the week ended on … Read more
We initiate with BUY rating coverage on R R Kabel based on its commendable value prop including (i) noteworthy Certification and R&D investments, (ii) robust manufacturing capabilities and prudent capacity expansion, (iii) wide distribution and retail network, and (iv) improving margin trajectory. Certification and R&D investments: R R Kabel, a prominent wires and cables industry … Read more
Zoho CEO Sridhar Vembu on Monday said the company is taking aggressive steps to open offices in rural areas. Vembu said this, even as the Chennai-based SAAS company opened another office in a rural area of Tamil Nadu. The new campus launched in Tharuvai in Tirunelveli district, adds to other major centres in southern districts: … Read more
Bajaj Housing Finance's IPO, one of India's largest offerings this year, opens for public subscription on Monday after raising about $209 million from major institutional investors, with analysts predicting strong interest amid booming demand for home loans. The $782 million IPO, which will make the company India's most valuable listed home loan provider at a … Read more
Crisil Ratings in its latest report has said that education loans, primarily those to fund courses overseas, will continue to be among the fastest-growing segments for non-banking financial companies (NBFCs) because of rising demand for higher education. Their assets under management (AUM) is expected to grow at a healthy clip of 40-45 per cent to … Read more
