The biggest sectoral gainers for the Nifty were NTPC, Adani Ports, Power Grid Corporation, ONGC, and Hindalco Industries. The Nifty’s Q1 EBITDA increased by 7%. Apollo Hospitals, Britannia Industries, HDFC Life, Divis Labs, and SBI Life Insurance are among the top sector gainers right now.
As long as the government continues to prioritize defense indigenization, management is optimistic about the future.
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Except for the automated toll gates on railroads, progress is sluggish in non-defense. After the national elections in May 2024, there should be sizable EVM orders for the years FY24–25. Strong margins increase the likelihood of continued profitability.
India’s Transport Corporation posted Q1 earnings with a 5.8% increase in net profit and a 5.1% increase in sales. While Nocil published Q1 results with a net profit down 48.4% and revenue down 22.1%, Dhanlaxmi Bank announced Q1 results with a net profit of Rs 28.3 crore.
- Nifty sees 7% Q1 EBITDA growth, including top sectoral gains.
- India‘s Transport Corporation reports 5.8% net profit, 5.1% sales growth.
- Adani Green’s Q1 net income increased 50%, total costs 1940 crore.
Walspun India announced first-quarter earnings with a net profit of Rs 161 core, revenue of Rs 2180 crore, total costs of Rs 2000 crore, and EBITDA of Rs 342 crore.
In the first quarter, Adani Green reported net income of Rs322 crore, up 50% year over year, total costs of Rs1940 crore, and total revenue of Rs2400 crore.
With a net profit increase of 9.2%, revenue growth of 7.4%, EBITDA growth of 8.2%, and an EBITDA margin of 23.2% as compared to 23%, Castrol India published Q1 figures.
Shree Cement was given a hold rating by HSBC View, with a price target of Rs 22,000 per share. The Reserve Bank of India has not reached out to Kotak Mahindra Bank over the CEO succession.
