Nestle India needs to up its game to justify premium valuations
The profitability also suffered on account of inflationary prices of coffee and cocoa. The operating profit margin corrected by 100 bps to 23.4%. Raw material cost stood at 43.6% of revenues-same as the year ago elevated level of 43.7%.
Infosys net profit rises 4.7% in Q2, misses Street estimates
The guidance change is the sixth consecutive quarterly revision and seventh in eight quarters. Infosys is seeing a “lot of traction in financial services, which has given us good growth last quarter and this quarter,” said chief executive officer Salil Parekh. “We see that continuing.”
Infosys, Wipro show strong sequential growth in Q2 dollar revenue
Infosys and Wipro delivered better than expected sequential growth in dollar denominated revenue for the September quarter. All four top IT exporters reported sequential growth in reported dollar denominated revenue for the September quarter after a gap of six quarters.
Bajaj Auto wheels in caution, drags festive mood, its stock & peers
The Nifty Auto index fell 3.5% while the benchmark Nifty ended 0.89% lower. All 15 stocks constituting the index closed lower on Thursday. Analysts said higher sales volumes typically mark the festival season for automobile manufacturers, but Bajaj Auto’s lower-than-expected growth estimates surprised investors.
Axis Bank beats Street with 18% Q2 net rise, cites ‘tough variables’
Net interest income – the difference between interest earned on loans and that paid on deposits – a key source of income for banks, grew 9% year-on-year to ₹13,483 crore. Net interest margins for the September quarter basis eased to 3.99% against 4.11% a year ago.
Institutional demand helps Hyundai cross the IPO line
Investors placed bids for 236 million shares worth ₹46,320 crore in the issue, against the 99.8 million shares worth ₹19,555 crore (excluding anchor allotment) offered by Hyundai Motor India’s South Korean promoters. Earlier this week, the company raised ₹8,315 crore (roughly 30% of the IPO size) as part of the anchor allotment from 225 institutional […]