India's defence export is estimated to grow at 18 per cent CAGR (compound annual growth rate) from FY24-FY30, driven by the 'Make in India' initiative and thrust on local manufacturing. According to global investment firm Jefferies, which cited factors such as geopolitical tensions and the government's push to indigenisation the defence sector, opportunities are growing … Read more
As the adoption of electric vehicles (EVs) increase in the country, the cost of EVs will almost match petrol and diesel vehicles within the next two years, Union Minister for Road Transport and Highways, Nitin Gadkari, said on Monday. Addressing an event here organised by the Automotive Component Manufacturers Association of India (ACMA), the Minister … Read more
Indian electric two wheeler-maker Ather Energy has filed for an IPO consisting of a fresh issue of shares worth 31 billion rupees ($369.4 million), it said in a draft filing on Monday. Backed by Indian bike-maker Hero MotoCorp, Ather makes electric scooters and competes with recently-listed Ola Electric. Investors and some top shareholders will sell … Read more
Emphasizing the increasing consumption and importance of man-made fibres and technical textiles in all spaces of life, at both a global and domestic level, Union Minister of Textiles, Giriraj Singh has expressed confidence that India’s technical textile exports will cross the target of $10 billion set for 2030. The Union Minister further stated that the … Read more
Operationally in-line quarter; broad-based growth across segments Efforts under way to resolve regulatory issue/scale up Pen-G production Aurobindo Pharma (ARBP) delivered in-line operational performance in 1QFY25. The robust execution across key markets was partly offset by seasonality and higher remediation costs for the quarter. * We largely maintain our estimates for FY25/FY26. We value ARBP … Read more
After the sharp reduction in import duty announced in the Union Budget, the revenues of organised gold jewellery retailers will increase 22-25 per cent this fiscal (year-on-year) — a solid 500-600 basis points (bps) more than the 17-19 per cent expected earlier, a report showed on Monday. The incremental growth will be driven by higher … Read more
Waaree Renewable Technologies is currently trading at Rs. 1460.90, up by 23.20 points or 1.61% from its previous closing of Rs. 1437.70 on the BSE. The scrip opened at Rs. 1437.00 and has touched a high and low of Rs. 1500.00 and Rs. 1405.00 respectively. So far 137890 shares were traded on the counter. The … Read more
MIC Electronics is currently trading at Rs. 81.90, up by 1.19 points or 1.47% from its previous closing of Rs. 80.71 on the BSE. The scrip opened at Rs. 82.00 and has touched a high and low of Rs. 82.30 and Rs. 78.80 respectively. So far 72250 shares were traded on the counter. The BSE … Read more
Indian rupee strengthened against the US dollar on Monday tracking firm domestic equities, while the Reserve Bank of India's active intervention also helped the rupee’s up-move. Meanwhile, RBI data showed India's forex reserves jumped by Rs 19,295 crore ($2.299 billion) to a new high of Rs 57,40,839 crore ($683.987 billion) for the week ended on … Read more
We initiate with BUY rating coverage on R R Kabel based on its commendable value prop including (i) noteworthy Certification and R&D investments, (ii) robust manufacturing capabilities and prudent capacity expansion, (iii) wide distribution and retail network, and (iv) improving margin trajectory. Certification and R&D investments: R R Kabel, a prominent wires and cables industry … Read more