Margin concerns, uncertainties on overseas orders to weigh on L&T
India’s largest infrastructure company pruned the FY24 guidance for operating margin before depreciation and amortization (EBITDA margin) by 50 basis points to 8.25%-8.5% from 8.5%-9%. The management had earlier guided for a gradual improvement in the margin, mostly in the second half.
Maruti Q3 net profit up 33% on rise in sales, SUV shift
Earnings before interest, tax, depreciation and amortisation or Ebitda during the quarter increased 38% from a year earlier to ₹3,908 crore. Ebitda margin improved by 190 basis points (bps) to 11.7% from 9.8% helped by easing commodity prices, improved capacity utilisation, cost reduction efforts and improved realisation.
FPIs sell Rs 25,744 crore of shares in January
In the past 10 years in February, foreign investors have been buyers on six occasions and sellers on four. In the past two years, February has seen outflows.
Brokers expect volatility spike, make margin trading costlier
In the first week of February, clients of these brokers must pay as much as 100% upfront margin for all new positions within the margin trading facility (MTF) in the cash segment in an attempt to discourage traders from taking excessive risks in the event of sharp swings.
Sebi puts on hold exemption pleas of some FPIs
The decision, driven by a few considerations, was communicated by the Securities & Exchange Board of India (SEBI) in a January 24 email to the fund custodians – banks and institutions who keep custody of securities and act as bookkeepers of the FPIs – three persons aware of the matter told ET.
68 MF schemes have Rs 1,995-cr exposure to Paytm stock
As of Dec 31, MF schemes held 3.15 crore shares compared to 1.78 crore in Sept 2023, according to Rupeevest. Schemes from Mirae Asset MF, Quant MF, and Nippon India MF are amongst the fund houses that added shares of Paytm in Dec.