Biocon Q4 Results: Cons PAT grows 31% YoY to Rs 313 crore, revenue surges 57%
The board has recommended a final dividend payout of Rs 1.50 per share. In FY23, Biocon’s revenue grew almost 37% to Rs 11,174 crore, while its net profit fell nearly 29% to Rs 463 crore. The biosimilars business segment more than doubled its year-on-year revenue to INR2,102 crore in Q4 2022.
Adani Green board meet on Wednesday to mull fundraising cancelled
“It may please be noted that on account of non-availability of directors, the meeting of the board of directors is now cancelled,” the release said.
India exploring importing urad from Brazil
“The agro-climatic condition in Brazil is suitable for producing urad. We are seriously exploring imports of urad from Brazil. The talks are in an advanced stage,” the Secretary told reporters. About 2 lakh tonne of urad has been imported from Myanmar so far in the current calendar year, he said.India is exploring other destinations for […]
GQG’s Rajiv Jain raises Adani stake by about 10% for $3.5 billion bet
“Within five years, we would like to be one of the largest investors in Adani Group depending on the valuation, after the family,” Jain, GQG’s chief investment officer, said in an interview. “We would certainly want to be partners in any of Adani Group’s new offerings.”
2 top stock recommendations from Gaurav Bissa
So this particular level of rally can go towards 18500 and one will have to review at those levels if it is giving a close above 18500. We can see higher levels as well. But as I said, the Bank Nifty is going to be the key to watch for.
Rs 43,000 crore-reshuffle! Mutual funds sell 3 bank stocks to pick 5 largecaps
Mutual funds in India sold stakes in the country’s 3 largest private banks in April, with ICICI Securities estimating that they sold over INR 14,000 crore ($1.9bn) worth of stakes in Axis Bank, ICICI Bank and HDFC Bank, while buying mortgage lender HDFC which is set to merge with the private bank. According to reports, […]
RBI’s dollar purchases casting a pall over the Indian rupee
Dollar shortages in India’s banking system and weakness in the rupee are being attributed to dollar purchases by the Reserve Bank of India to stem inflows from foreign investments, analysts said. Despite almost $11bn flowing into the country’s foreign exchange reserves so far in May, the rupee has surrendered all gains this year in a […]
Chart Check: Descending triangle breakout makes Finolex Industries an attractive buy; target seen at Rs 230
Finolex Industries’ stock price rose by 14% in a month, hitting a fresh 52-week high in May, and chart patterns suggest that the rally may not be over yet. Traders can buy the stock for a target of Rs 230 in the next 1-2 months, according to experts. The momentum helped the stock hit key […]
We should be in a position to be net debt free by 2026: VS Mani, Glenmark Pharma
So first and foremost at the outset, the Q4 was a decent quarter. In terms of our sales growth, we did about Rs 3370 crores and almost 11.7% growth and EBITDA margin of almost 17.9%. I think the coming year we are quite optimistic about touching about 19-20% based on a couple of things; one […]
PB Fintech shares rise 6% after Q4 losses narrow. How to trade now?
Shares of PB Fintech, the parent company of Policybazaar, rose 5.6% following a significant reduction in its Q4FY23 losses to Rs 8.9 crore, compared to last year’s Rs 220 crore. Revenue from operations rose 61% YoY to Rs 869 crore. Brokerage firm Morgan Stanley gave an ‘overweight’ call on the counter, Kotak maintained an ‘add,’ […]