News

Asian Paints Ltd., India’s largest paints manufacturing company, has received its first share price target below the mark of ₹2,000, from brokerage firm CLSA, after its March quarter results on Friday, May 9. Read here

Asian Paints reported a weaker-than-expected result for the March quarter, as its 1.8% volume growth was below the CNBC-TV18 poll, that had projected the volume growth to be between 4% and 5%. Other parameters were also below expectations.

With pricing hikes in place, brokerage firm Emkay Global believes Britannia is now better positioned than its peers. The brokerage also considers the improving margin outlook and the company’s better competitive position. Read here

– FY25 saw a substantial slowdown for the broader drone industry in India, owing to:

general elections in the first part

slow progress towards procurement initiatives, despite latent demand

– Industry started to regain momentum at the end of the year with:

new emergency procurement cycle for CICT (Counter Insurgency Counter Terrorism) operations going into tendering phase in Q4

trials of many other civil programs as well towards end of Q4

– Did not see closure of opportunities to orderbook in Q4, but now see healthy progression to our L1 pipeline

Seeing increasing momentum towards international opportunities and partnerships

Intend to substantially increase the market opportunity for Indian drones globally

– Revenue at ₹20 crore vs ₹102 crore, down 80% YoY

– EBITDA loss of ₹17 crore vs Profit of ₹20 crore, YoY

– Net loss of ₹26 crore vs Profit of ₹10 crore, YoY

Shares of ideaForge Technology, the drone manufacturing company, will be in focus in Friday’s trading session after the company reported a net loss in the March quarter. Read here

Union Bank of India shares will be reacting to its quarterly results on Friday, May 9. The results were reported after market hours on Thursday. The lender’s net profit rose 51% YoY to ₹4,984.9 crore. The profitability was aided by a higher other income component, which stood at ₹5,509 crore.

Good Morning!

Hello and Welcome to the Live coverage of the important Q4 results today.

As many as 10 important names will be reporting their results through the course of the day.

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