CEAT Ltd's Q3 consolidated net profit fell by 46.48% to Rs 97.03 crore due to high raw material costs. Revenue grew to Rs 3,299.9 crore, driven by the replacement segment. The company partially offset increased costs through selective price hikes. Demand is stable, and a robust order book is expected for Q4.
The Nifty's near-term trend remains weak, with the lower tops and bottoms pattern intact. The current pullback aligns with a potential new lower top, pending confirmation. A decisive move above 23,300-23,350 could strengthen the upside, while 23,050 serves as key support. Nagaraj Shetti of HDFC Securities highlights these crucial levels for market direction.
UltraTech Cement, Ambuja Cements, and JK Cement have received 'buy' ratings from JM Financial due to promising growth prospects amid sector recovery driven by infrastructure and housing initiatives. UltraTech is highlighted for its robust strategy, while Ambuja and JK Cement show significant upside potential. The industry's consolidation and cost optimization are set to enhance profitability over the coming years.
Bank of Maharashtra (BoM) reported a 36% YoY increase in Q3FY25 net profit, reaching Rs 1,406 crore. Interest earned rose by 22% to Rs 6,324.65 crore, while interest expended grew by 25% to Rs 3,381.38 crore. Despite the strong earnings, BoM shares traded 2.81% lower at Rs 51.26 around 3 pm on Wednesday.
