RITES board to consider bonus issue on July 31
RITES revealed its board would review the issuance of bonus shares, financial results for Q1 FY24-25, and an interim dividend in the meeting on July 31.
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RITES revealed its board would review the issuance of bonus shares, financial results for Q1 FY24-25, and an interim dividend in the meeting on July 31.
This week, several prominent companies released their June quarter financial results. Firms like ITC, SBI, Adani Ports, Tata Motors, and M&M showcased their reports between July 29th and August 3rd. The updates offered a glimpse into their quarterly performance, engaging the attention of investors and stakeholders.
Mankind Pharma Share Price: Mankind Pharma shares dropped by 2.5% following the announcement of a Rs 13,630 crore acquisition of Bharat Serums and Vaccines (BSV). The acquisition aims to strengthen Mankind\’s position in women\’s health and fertility drugs. BSV reported strong revenue growth in FY24, with a notable presence in IVF and critical care segments.
VST Industries\’ shares surged 7.4% after the company announced a 10:1 bonus share issue, despite reporting a 36% YoY decline in PAT for the June quarter. The record date for determining shareholder eligibility is August 30. Shares will be credited by September 24.
Sobha Ltd Shares News: Shares of Sobha Ltd fell 4.5% to Rs 1,779 due to block deal reports, possibly involving Anamudi Real Estate LLP. Despite the drop, the stock has risen 190% over the past year. The company reported an 86% decline in Q4 FY24 profit with net profit at Rs 7.02 crore and income at Rs 791.25 crore.
Old vs New Income Tax Regime 2024: New income tax slabs in new tax regime: The income tax slabs under the new tax regime has been changed in the Budget 2024. The new income tax slabs will come into effect retrospectively from April 1, 2024. Now, there may be some individuals who are still paying their taxes under the old tax regime. Does it make sense for them to switch to new tax regime now?
Indus Towers shares buyback proposal: The board meeting will be held on Thursday, July 30, 2024. The company\’s board of directors will also approve the unaudited financial results for the quarter ended June 30, 2024. If the board approves the buyback, it will be the first time in eight years that the company has conducted one.
Paytm FDI Proposal Approved: Shares of fintech major Paytm surged up to 10% intraday on Friday following government approval of its foreign direct investment (FDI) proposal for the payment aggregator business. The financial services secretary announced that Paytm can now approach the Reserve Bank to seek the payment aggregator license, which will undergo further evaluation.
PAT estimates are most conservative in case of JM Financial at Rs 10,441 crore (8.2%) while Yes remains most bullish at Rs 10,876 crore, seeing a 12.7% YoY growth. As for NII in the said quarter, Nomura\’s figures remain most bullish at Rs 19,700 crore while JM\’s numbers are most conservative at Rs 19,253 crore.
IndiGo Q1 Results: IndiGo reported a 12% decline in consolidated net profit to Rs 2,729 crore for the first quarter ended June 2024, down from Rs 3,091 crore in the same quarter last year. However, revenue from operations rose 17% year-on-year to Rs 19,571 crore. Both profit and revenue exceeded expectations.
Piramal Pharma Q1 Earnings: Piramal Pharma narrowed its net loss to Rs 89 crore in Q1FY25 from a net loss of Rs 99 crore in the corresponding quarter of the previous year.
ICICI Bank Q1 Results: The net interest margin was 4.36% in Q1 compared to 4.40% in Q4 of FY24 and 4.78% in Q1 of FY24. NII was in line with ET Now poll estimates while PAT was above expectations.
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