Investors in the IT sector are eagerly awaiting the release of the Q2 results for companies such as TCS, Infosys, Wipro, TechM, and HCL Tech. The BSE IT index has experienced a 16% rally year-to-date, indicating positive investor sentiment [b78962b7]. Analysts have mixed predictions for the Q2 results. Arihant Capital favors TCS among the tier I players, while Emkay Global predicts a recovery in demand to drive growth and support valuations. However, Kotak Institutional Equities forecasts a decline in EBIT margin for most companies due to the slowdown in growth rates and increase in costs. Additionally, HCL has deferred wage revision for junior levels by a quarter. It remains to be seen how the Q2 results will impact the share prices of these IT companies [b78962b7].
Cipla Ltd.'s Q2 FY24 earnings beat estimates, driven by strong performance in the U.S. and South Africa, Sub-Saharan Africa, and Cipla Global Access markets. Revenues were above expectations, with strong U.S. sales. Ebitda margin expanded YoY/QoQ. With Cipla's strong India business franchise and traction in key launches in the U.S., a net profit compound annual growth rate of 18.3% is expected over FY23-26E. 'Accumulate' rating maintained with a revised target price of Rs 1,334. [f30d5476]
Bayer CropScience reported a 37% increase in net profits for the September quarter at ₹222.9 crore. Revenue for the quarter was up 11.38% at ₹1617.2 crore. In the first half of the financial year, the company reported a profit of ₹551.4 crore, an 18% increase over the same period last year. The Board of Directors declared an interim dividend of ₹105 per equity share for the fiscal year 2024. [6f6c73d1]
IMFL maker Tilaknagar Industries reported a 130% increase in net profit to Rs 32 crore in Q2, with revenue climbing 29.1%. The company's flagship brand, Mansion House, is driving growth and gaining market share in the brandy segment. The premium flavoured brandy under the Mansion House brand, called Flandy, is also performing well. [8df1b65a]
Indian generic drugmaker Zydus Lifesciences Ltd reported a better-than-expected 53.3% jump in quarterly profit, driven by strong sales in the domestic market and the United States. Consolidated net profit was 8.01 billion rupees ($96.2 million) in the quarter ended Sept 30, compared with 5.23 billion rupees a year earlier. Total revenue from operations rose 9.1% to 43.69 billion rupees, boosted by the strength in the U.S. formulation segment. Zydus expects sustained growth in profit this fiscal year, with a more than 24% margin on earnings before interest taxes, depreciation and amortisation. [4d81c618]
Yatra Online, Inc. (NASDAQ:YTRA) held its Q2 2024 earnings call, reporting a surge in air passenger bookings and expansion in the corporate travel sector. The company also announced a share repurchase program and discussed the positive macroeconomic outlook for India. The financial results for the quarter ended September 30, 2023, showed a 14% increase in revenue and a decrease in adjusted margins from air ticketing. Yatra India serves top listed companies and is focusing on expanding its product platform for business travel customers. [61581838]
Cleartrip, an online travel company, has seen a significant increase in hotel bookings for religious destinations like Ayodhya. The company has experienced a 70% jump in hotel bookings for these destinations [b8ece797]. Cleartrip has also started offering free flight tickets to senior citizens and has launched packages for Ayodhya and other religious destinations. Karthick Prabu of Cleartrip advises early booking and plans to offer discounts for long weekend trips [b8ece797].
Anand Rathi has initiated coverage on TBO Tek, a leading global travel distribution platform, with a buy recommendation. The brokerage expects a surge in demand for the company's services as the travel space sees an influx of first-time travelers exploring new destinations [a7abc327].
Shares of tourism-related companies gained as Finance Minister Nirmala Sitharaman announced plans to develop the Vishnupad temple corridor and the Mahabodhi temple corridor in Bihar. The government aims to make these corridors world-class tourist destinations, creating economic opportunities. Shares of SpiceJet Ltd. and ITC Ltd. were trading higher on the BSE. Easy Trip Planners Ltd., Thomas Cook (India) Ltd., and Yatra Online Ltd. also saw an increase in their share prices on the NSE [166d9f83].