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Notwithstanding high volatility over the week, the BSE 500 index outperformed the headline BSE S&P Sensex with the latter gaining 0.90% (642 points) on a weekly basis.
Nestle India\’s share price fell 2% to Rs 2,511.60 after Q4 results. Standalone net profit rose 27% to Rs 934 crore, revenue increased 9% to Rs 5,268 crore. Brokerages hold mixed views on the stock.
Nestle India Results: The revenue from operations stood at Rs 5,268 crore, 9% higher compared to Rs 4,830 crore reported by the company in the year-ago period. The Board has also recommended a final dividend of Rs 8.5 per share for the financial year 2023-24.
Nestle India announced a dividend of Rs 8.50 per share with March quarter results. The company reported a 27% increase in net profit year-on-year (YoY) for the said quarter.
Nestle India\’s shares climbed 1% to Rs 2,530 during Thursday\’s intraday trading on the BSE in anticipation of the company\’s fourth-quarter results, scheduled for later in the day. Analysts predict a 17% increase in net profit to Rs 867 crore for the quarter ending March 31, 2024, based on the average estimates of three brokerages.
On the revenue front, the company will likely report growth of 7.2% for the reporting quarter at Rs 5,174 crore. Sharekhan\’s revenue estimates remain highest in the pack at Rs 5,236 crore for the reporting quarter while HDFC Securities\’ Rs 5,090 crore remains the lowest.
India VIX, indicating near-term market volatility, plummeted by 22%, reaching historic lows below 10, leaving Nifty option traders puzzled. Such a drastic drop, comparable to past election result days, suggests minimal expected volatility over the next 30 days, impacting trading strategies.
JNK India IPO GMP, Price Band: JNK India IPO to open for Rs 650 crore with fresh equity and offer for sale. Reserved quotas. Anand Rathi advises subscription. Market cap post issue, price band set. Proceeds for working capital.
As the Q4 FY24 earnings season is going on, Goldman Sachs (NYSE:GS) analysts have recalibrated their projections for the Indian pharmaceutical sector, factoring in a spectrum of variables from monthly sales data to currency fluctuations. Notably, the sector continues to trade at valuations exceeding one standard deviation above its five-year average, largely propelled by the resilience of major players like Sun Pharma (NS:SUN), Cipla (NS:CIPL), and Divi’s Laboratories.
BJP leader Amit Shah and his wife have a diverse stock portfolio, with investments in over 180 companies. Their top 10 stock bets are concentrated in specific companies, with significant holdings in various sectors like banking, FMCG, and pharma.
Expensive valuations make the FMCG stock less appealing for Motilal Oswal which has a \’Neutral\’ rating on the counter. Its target estimates a 2.5% downside over Thursday\’s closing price.
Pankaj Murarka discusses Tesla\’s entry into India, emphasizing its impact on the luxury electric vehicle market, global vendors, auto ancillary companies, and the growth of the Indian passenger vehicle market.