Keep a close eye on the stock market as several companies attract attention today. Godrej Agrovet reports steady consolidated earnings but sees a 22% growth in EBITDA for the June quarter, driven by strong performance in domestic crop protection, animal feed, and poultry businesses. Meanwhile, THYROCARE faces an impact on earnings due to the expiry of MCGM contract and decline in API business, but raises prices to improve margins. Sula Vineyards receives a significant excise duty notice from the Maharashtra excise ministry.
Stock Market Update: Godrej Agrovet, THYROCARE, Sula Vineyards in the Spotlight
In other news, Aditya Birla Group’s New Age Hospitality acquires 100% ownership in four renowned brands – Hakkasan, Yauatcha, Nara Thai, and CinCin. Cholamandlam Investment’s interest income exceeds market estimates, leading to a 26.3% year-on-year profit growth, and the board approves a QIP of Rs 4,000 crore. SAFARI begins operations at the Gujarat plant, expecting an increase in production capacity from 2.25 lakh/piece to 3.5 lakh/piece after expansion.
Aditya Birla Group’s New Acquisition and Cholamandlam Investment’s Impressive Growth
Automobile sector updates show Ashok Leyland’s total sales in July reaching 15,068 units with a 17.5% YoY growth in M&HCV sales. Maruti Suzuki’s total sales in the same month stand at 1.81 lakh units, witnessing a 2.5% increase in domestic sales and a 9.3% rise in exports. However, Hero MotoCorp faces a decline of 12.2% in total sales in July, while TVS Motor sees a 17% growth in domestic sales but a 20.4% decline in exports for the same period. Redington India’s profit falls by 21% compared to last year, but its income sees a 26.1% increase, resulting in a 100 basis points margin growth from 2% to 3%.