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Coca-Cola is poised to achieve the upper end of its organic sales forecast for 2024, driven by increased demand for its premium sodas and juices in the U.S., resulting in a surprise rise in quarterly sales. Despite a 10% increase in average selling prices, unit case volumes dipped by 1%, leading to a 5% to 6% growth forecast for annual adjusted profit. The company is also innovating with pack sizes, introducing 12-ounce slim cans in the U.S. and reformulated drinks in India and South Korea.
Piramal Enterprises anticipates an increase in business loan delinquencies to 2-2.1% in the upcoming quarters, driven by ongoing stress in the microfinance and business loan sectors, according to Managing Director Jairam Sridharan. In the July-September quarter, delinquencies rose to 1.6%, up from 1% a year earlier and 1.3% in the previous quarter, with expectations that the situation may stabilize after a few quarters of improvement.
Godavari Biorefineries' ₹555-crore IPO had a slow start on October 23, with a subscription rate of 27% on the first day. Retail investors booked 48% of their quota, while non-institutional and qualified institutional buyers showed lower interest, securing 12% and 0.2% of their respective portions. The IPO, which includes a fresh issue of ₹325 crore and an offer-for-sale of ₹229.75 crore, is priced between ₹334-352 per share and closes on October 25.
India's food inflation is projected to ease by Q4 2024-25, driven by improved kharif crop arrivals and favorable rabi season prospects, despite a rise in September inflation to 5.5%. The Reserve Bank of India anticipates core inflation to remain contained, with a projection of 4.5% for 2024-25, supported by sufficient cereal stocks and favorable weather conditions. However, risks from adverse weather events persist.
Sona Comstar is set to acquire the railway equipment division of Escorts Kubota for Rs 1,600 crore, a move expected to boost earnings from the first year. This division, a key supplier of railway components like brakes and suspension systems, reported revenues of approximately Rs 950 crore in FY24. The acquisition aligns with Sona Comstar's strategy to expand into the mobility sector and enhance its clean mobility product offerings.
L&T Finance is adopting a cautious approach towards its rural business due to ongoing challenges in the microcredit sector, as stated by CEO Sudipta Roy. In the second quarter, rural finance disbursements fell by 5% year-on-year and 6% quarter-on-quarter, totaling Rs 5,435 crore, amid rising gross stage 3 loans.
Hindustan Unilever Ltd., India's largest household-products manufacturer, reported a second-quarter net income of 26.1 billion rupees ($310 million), a 4% decline from the previous year. This figure fell short of analysts' expectations, which averaged 27.06 billion rupees, amid ongoing weak demand for consumer goods.
The Nifty 50 continued its downtrend for the third session, closing at 24,436 after hitting a low of 24,378. It must hold the 24,350-24,400 range to potentially bounce back towards 24,600-24,700; otherwise, it risks falling to the 24,000 support level. A move above 24,605 could signal a short-term positive shift, despite the prevailing negative chart pattern.
Hindustan Unilever Ltd reported a Q2 FY25 net profit of Rs 2,591 crore, down 2.4% from Rs 2,668 crore a year earlier, missing analyst expectations. Revenue rose 2.1% to Rs 16,145 crore, surpassing predictions, while EBITDA stood at Rs 3,647 crore with a healthy margin of 23.8%. A dividend of Rs 29 per share was declared amid challenges from high commodity inflation and muted demand.
Hindustan Unilever Ltd (HUL) has announced its decision to separate its ice cream business, following a recommendation from an Independent Committee after a thorough review. This restructuring aims to enhance focus on core areas such as Beauty, Foods, Health, and Wellbeing, aligning with Unilever PLC's global strategy to separate its ice cream operations.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Coca-Cola anticipates revenue growth from increased soda demand in 2024
14:23 23.10.2024
piramal enterprises anticipates rise in business loan delinquencies to 2 percent
14:11 23.10.2024
godavari biorefineries ipo sees 27 percent subscription on opening day
Godavari Biorefineries Ltd.
IND
HDFC Mutual Fund
Vikas Khemani
ICICI Prudential Mutual Fund
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14:10 23.10.2024
food inflation expected to ease by fourth quarter on improved harvest prospects
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