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Larsen and Toubro (L&T)s shares rose by 2% after it reported a consolidated net profit of Rs 2,786 crore for Q1 FY25. Revenue from operations saw a 15% YoY increase, driven by robust execution in projects and manufacturing. Orders grew by 8%, with strong momentum in the Middle East, per analysts insights.
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Nuvama upgraded United Spirits to buy, raising target price to Rs 1,630 from Rs 1,195, citing strong cost controls and healthy margins. Reasons include margin outperformance, growth potential in premium categories, upcoming festive season, H2 demand recovery, Karnataka tax benefits, Andhra policy changes, and potential India-UK FTA.
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Axis Bank Share Price: Axis Bank's shares declined by 5.8% in early trading on Thursday, dropping to a day's low of Rs 1,168.25 following its announcement of a lower-than-expected net profit of Rs 6,035 crore for the quarter ended June 30, 2024. The profit showed a 4% increase compared to Rs 5,797 crore reported in the year-ago period.
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Following the implementation of the T+1 framework, dividends are distributed to shareholders listed in the company's database on the record date. Normally, the record date and ex-date align unless a market holiday follows the ex-date. Under this framework, shareholders who purchase the stock at least one day before the ex-date qualify for dividends, with settlement occurring the next day.
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India considered easing investment restrictions on some Chinese firms to boost domestic manufacturing. Discussions were held on exemptions for hi-tech sectors like solar modules. Relations between the two countries had strained post-2020 border clash. The government's Economic Survey report suggested attracting more Chinese investment to enhance manufacturing similar to East Asia.
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