Ambuja Cements Ltd., announced its results for the June quarter on Tuesday, July 28, with net profit decreasing 36.6% year-on-year to ₹660 crore. The company had reported a net profit of ₹1,041 crore during the same quarter last year. The cement major has reported a 7.7% decline in its revenue for the June quarter to…
Shares of Alembic Pharmaceuticals rose on Tuesday, July 28, after it received final approval from the US Food and Drug Administration (USFDA) to market Prucalopride Tablets in 1 mg and 2 mg strengths in the United States. The approval covers the company’s abbreviated new drug application (ANDA) for Prucalopride Tablets, which are therapeutically equivalent to…
Radico Khaitan Ltd has upgraded its FY27 guidance for its Prestige & Above (P&A) portfolio, now expecting volume growth of more than 25%, up from its earlier forecast of 20%. The liquor maker also reiterated its expectation of delivering an EBITDA margin of around 20% for the financial year, after reporting a record June quarter…
Shares of Cholamandalam Investment and Finance Company Ltd. fell more than 6% on Tuesday, July 28, before recovering nearly 4% from the day’s low, despite the company reporting a strong set of June quarter earnings. The NBFC reported a 45.5% year-on-year rise in net profit to ₹1,656 crore, compared with ₹1,138 crore in the corresponding…
HDFC Bank must rebuild investor trust through stronger governance and better processes rather than simply closing individual controversies, governance experts Amit Tandon, Managing Director of Institutional Investor Advisory Services (IiAS), and Ashvin Parekh, Managing Partner at Ashvin Parekh Advisory Services, said. Their comments come after the bank’s board concluded its internal review into the Maharashtra…
Indian benchmark indices ended a volatile session with marginal losses on Tuesday as weakness in Hindustan Unilever Ltd. (HUL) offset gains in information technology (IT) stocks. The BSE Sensex fell 70 points to close at 76,766, while the Nifty 50 slipped 11 points to 23,985. The Nifty Bank index declined 332 points to 56,756, while…
Hindustan Unilever Ltd. (HUL), Varun Beverages Ltd., and Avenue Supermarts Ltd., were the three big FMCG losers on Tuesday, July 28. While HUL and Varun Beverages reacted to their June quarter results that disappointed the street, Avenue Supermarts reacted to some subdued management commentary at its analyst meet. While shares of both HUL and Varun…
US markets opened on a mixed note on Tuesday as a sharp sell-off in Asian semiconductor stocks weighed on technology shares, overshadowing support from lower oil prices and a steady stream of corporate earnings. The Nasdaq Composite, which is heavily weighted towards technology companies, slipped in early trading, while the broader S&P 500 remained largely…
Varun Beverages remains confident of delivering strong volume growth despite a weather-hit April, with management saying demand has recovered and the company is seeing growth of more than 20% across most months since March, while ruling out an aggressive push into the ₹10 price segment. The PepsiCo bottling partner reported June-quarter earnings on Tuesday, July…
The US Federal Reserve began its two-day monetary policy meeting on Tuesday, setting the stage for one of the most closely watched interest rate decisions of the year. While investors overwhelmingly expect policymakers to leave borrowing costs unchanged on Wednesday, the meeting has become unusually difficult to predict after a recent jump in oil prices,…
