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Bloomberg Quint
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UltraTech Cement Q3 Results Review — Dolat Capital Maintains 'Accumulate', Hikes Target Price; Here's Why
- UltraTech Cement's capacity is expected to increase to support future growth.
- Dolat Capital maintains 'Accumulate' rating for UltraTech Cement.
- Dolat Capital has also hiked the target price for UltraTech Cement.
- Being the largest player in the Indian cement industry is UltraTech's biggest advantage.
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Bloomberg Quint
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United Spirits Share Price Falls After Profit Slips Third Quarter
- United Spirits Ltd.'s net profit for the third quarter declined by 4% to Rs 335 crore, compared to Rs 350 crore in the same period last year.
- Despite the decline in profit, the company posted a revenue growth of 11.1% to Rs 3,433 crore, with Ebitda up by 17% to Rs 568 crore.
- United Spirits' share price fell by 2.62% during the day to Rs 1,461.3 apiece on the NSE, but it has risen 33.11% in the last 12 months.
- According to Jefferies, United Spirits is expected to outperform on its result day, despite weak earnings.
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Bloomberg Quint
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Zee Files $8 Million Suit In ICC TV Rights Dispute With Star India
- Zee Entertainment Enterprises Ltd. has filed an $8.06 million counterclaim against Star India Pvt. Ltd. in a broadcasting rights dispute for International Cricket Council's men's tournaments.
- Star India had previously claimed damages of $940 million from Zee, alleging default on the alliance agreement terms.
- Zee maintains that Star's claims are unfounded and legally not tenable.
- The outcome of the arbitration proceedings is pending.
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Bloomberg Quint
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Work-Hour Debate: Adar Poonawalla Calls For Quality Over Quantity
- Adar Poonawalla, CEO of Serum Institute of India, emphasizes the importance of unwinding and refreshing to maintain productivity.
- Poonawalla believes that it is not humanly possible to sustain productivity beyond a certain number of hours and that balancing work with rest is necessary.
- Serum Institute follows standard eight-hour shifts with multiple teams to ensure smooth operations.
- Poonawalla comments on controversial statements by other industry leaders, stating the importance of quality work over quantity.
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Bloomberg Quint
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GB Logistics IPO Day 1: Check GMP, Price Band, Lot Size, Financials And Other Key Offer Details
- The GB Logistics IPO opened for subscription on Jan. 24 with a price band of Rs 95 to Rs 102 per share.
- The company aims to raise Rs 25.07 crore through the IPO and has reserved 50% of the net offer size for qualified institutional buyers.
- GB Logistics reported a revenue of Rs 50.85 crore and a net profit of Rs 2.53 crore in the first half of the ongoing fiscal year.
- The projected listing price of GB Logistics shares is expected to be Rs 123 apiece, with a grey market premium of Rs 21.
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Bloomberg Quint
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Dr. Reddy’s: Systematix Recommends 'Sell' On The Stock After Q3 Results — Here's Why
- Systematix Institutional Equities recommends 'sell' on Dr. Reddy's stock after Q3 results.
- The brokerage expects the new business avenues of Dr. Reddy's to take a few years before contributing profitably.
- Dr. Reddy's Q3 revenue was inline, but Ebitda and net earnings were lower than expected.
- Dr. Reddy's SG&A and research spend has increased nearly 50% over the past two years.
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Bloomberg Quint
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Cyient Share Price Locked In Lower Circuit After Q3 Net Profit Fall
- Cyient Ltd's share price fell 15% and was locked in the lower circuit after reporting a decline in net profit for Q3.
- The net profit for Q3 decreased to Rs 122.3 crore from Rs 179 crore in the previous quarter.
- Despite the drop in profit, the company experienced a 4.2% increase in revenue to Rs 1,926.4 crore.
- The company's margin slipped to 11% in Q3, and the decline in Ebit further impacted investor confidence.
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Bloomberg Quint
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Stock Recommendations Today: UltraTech Cement, Dr. Reddy's, HPCL, Adani Energy Solutions On Brokerages' Radar
- Brokerages react to the third-quarter financial results of UltraTech Cement Ltd., Dr. Reddy's Ltd., HPCL, and Adani Energy Solutions.
- Goldman Sachs maintains 'Buy' rating for UltraTech Cement with a target price of Rs 12,580.
- Jefferies reduces target price for Dr. Reddy's to Rs 1,170 and maintains 'underperform' rating.
- Jefferies maintains 'Underperform' rating for HPCL and reduces target price to Rs 295.
- Investec maintains 'Buy' rating for Adani Energy Solutions with a target price of Rs 1,352.
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Bloomberg Quint
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HM Electro Mech IPO Day 1: Check GMP, Price Band, Offer Size And More
- HM Electro Mech IPO is an entirely fresh issuance of 36.99 lakh shares offered at a price band of Rs 71 to Rs 75 per share.
- The total offer size is valued at Rs 27.74 crore at the upper price band.
- HM Electro Mech shares are expected to list on BSE SME on Jan. 31.
- HM Electro Mech IPO GMP (grey market premium) was Rs 25 as of 7:29 am on Friday.
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Bloomberg Quint
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Adani Green Q3: Investec Optimistic On Capacity Growth, Operational Strength
- Investec maintains a 'buy' rating on Adani Green Energy with a target price of Rs 2,515, reflecting a potential upside of 144.2%.
- Adani Green Energy delivered strong Q3 results, with a net profit of Rs 474 crore, a 85% YoY increase.
- The company saw a 32% YoY growth in energy sales, with 5.98 billion units sold in Q3.
- Adani Green Energy signed a 25-year power purchase agreement with Maharashtra State Electricity Distribution Co., further strengthening its portfolio.
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Bloomberg Quint
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Yen Fluctuates After Bank Of Japan Hikes Rates As Traders Wait For Governor Speech
- The Japanese currency is moving between gains and losses, and was down 0.1% to 156.11 at 12:27 p.m.
- The Bank of Japan raised interest rates for the first time since July.
- The decision is good news for the beleaguered yen, which has been weighed down by wide interest-rate differentials between the US and Japan.
- Governor Kazuo Ueda will give hints about the pace of future hikes at his press conference this afternoon.
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VIE Stories
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IIFL Fintech Fund Secures Rs 200 Cr second fund
- IIFL Fintech Fund has secured Rs 200 crore in its second fund from local family offices and high-net-worth individuals.
- The fund will focus on investing in Indian fintech startups, particularly those working in the generative AI sector.
- Since its establishment in 2021, IIFL Fintech Fund has supported 14 startups and experienced a 22.5x revenue growth in the past three years.
- Recently, the fund led a Rs 80 crore Series B funding round in GrayQuest, a fintech startup focused on education.
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Bloomberg Quint
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Dr Reddy's Labs Falls Most In Over A Year As Brokerages Cut Target Over Revlimid Concern
- Dr Reddy's Laboratories' stock fell the most in over a year following brokerages' target price cuts after the company announced its results for the December quarter.
- Brokerages believe that the pharma major's loss in market share of generic Revlimid or gRevlimid will negatively impact its performance.
- The company's Q3 numbers were subdued and missed expectations, primarily due to market share loss in certain products and decline in gRevlimid sales.
- The stock fell as much as 6.66% and traded 5.2% lower, compared to a flat NSE Nifty 50 Index.
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Bloomberg Quint
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Adani Power Retains 'Buy' From Ventura On Strategic Positioning, Capacity Expansion
- Ventura maintains 'buy' rating on Adani Power Ltd. with a target price of Rs 806.
- Adani Power strategically positioned with robust capacity expansion plans.
- Rising power demand and improved coal availability support Adani Power's growth.
- Acquisitions and manageable net debt contribute to Adani Power's operational capabilities.
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Bloomberg Quint
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Zee Entertainment Gets 'Neutral' Rating From Motilal Oswal After Q3 Results — Here's Why
- Zee Entertainment's revenue declined by 3% YoY due to softness in domestic advertising revenue and lower revenue from other sales and services.
- Motilal Oswal gives a 'Neutral' rating to Zee Entertainment and highlights that a recovery in domestic advertising revenue and a favorable outcome in ongoing litigation for ICC rights with Star are crucial for rerating.
- Zee's valuations have become attractive amidst the declining trend in revenue.
- To access the full article and its benefits, subscribe to Motilal Oswal Financial Services.
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