Ashok Leyland hits new high; stock surges 42% in H1FY18
Posted on 29th September 2017 |
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| Ashok Leyland Limited (ALL) hit a new high of Rs 121, up 3% on BSE, surpassing its previous high of Rs 120 touched in last of week, after the rating agency ICRA assigns credit rating for commercial paper issue with stable outlook. “The ratings draw strength from ALL’s strong business risk profile marked by its sustained gain in market share in domestic Medium and Heavy Commercial Vehicle (M&HCV) segment in recent years and improvement in operational efficiencies following cost rationalization initiatives undertaken,” ICRA said in statement. While M&HCV sales volumes witnessed moderation during Q1FY2018, recovery in demand is expected for ALL during H2FY18 with likely growth in replacement demand led by rise in infrastructure and rural spending, and acceptance of new product technology, it added. In September 2017, the stock rallied 13% after the company reported 25% overall growth from 10,897 units sold in August 2016 to 13,634 units sold in August 2017. The growth was majorly driven by MHCV segment which grew by 29% to 10,567 units sold in August 2017 from 8,201 units sold in August 2016. LCV reported 14% growth from 2,696 units sold in August 2016 to 3,067 units sold in August 2017. The S&P BSE Sensex is down 1% so far in the month. Thus far in the first half of (April-September) of current financial year 2017-18, the stock rallied 42% from Rs 85 against 6% rise in the benchmark index. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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