Maruti Suzuki hits new high ahead of Q2 results
.jpg)
Maruti Suzuki India hit a new high of Rs 5,775, up 1% on BSE in intra-day trade on BSE, ahead of its July-September quarter (Q2FY17) earnings on Thursday, October 27, 2016.
In past three-months, post April-June quarter (Q1FY17) results, the stock outperformed the market by gaining 27% as compared to 0.18% decline in the S&P BSE Sensex. The S&P BSE Auto index was up 7% during the same period.
Edelweiss Securities expect revenue growth of 27% year-on-year (YoY) led by 18% YoY improvement in volumes. The brokerage house expects operating margins to see a marginal drop of 20 basis points (bps) on quarter on quarter (QoQ) to 14.6% due to adverse Yen impact on indirect imports.
“Volumes grew around 18% YoY (+20% QoQ) in Q2FY17 to around 418,470 units primarily led by incremental volumes of new launches (Brezza and Baleno) as well as growth in mid-size segment,” according to Motilal Oswal Securities.
“We expect net profit to grow 29% YoY (+24% QoQ) to Rs 1,840 crore. Margin to contract 110 bps YoY (+40 bps QoQ) to 15.2% on account of higher raw material costs due to adverse forex movement YoY,” the brokerage firm said in Q2 results preview.
HDFC Securities expect healthy topline growth of 30% YoY aided by 18% volume increase and 12% net ASP improvement owing to richer product mix. The EBITDA (earnings before interest, taxes, depreciation, and amortization) margins to improve by 40bps QoQ on account of better product mix and benefit of operating leverage.
At 11:06 am, the stock was trading at Rs 5,750, up 0.66% against 0.48% decline in the S&P BSE Sensex. A combined 128,899 shares changed hands on the counter on BSE and NSE so far.
Other Latest News
.webp)
At least nine people were burnt alive and 15 injured when a moving bus caught fire near Tauru in Haryana's Nuh district in the early hours of Saturday, police said.
The incident occurred around 2 am on the Kundli-Manesar-Palwal (KMP) Expressway. The bus was carrying around 60 people, all residents of Punjab's Hoshiarpur and Ludhiana, who were returning from pilgrim towns of Mathura and Vrindavan. All of them are relatives, police said.
.webp)
Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to $450 million via sale of dollar bonds, sources said.
JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said.
.webp)
The national capital on Saturday morning recorded a minimum temperature of 27.1 degrees Celsius, 0.6 notch above the season's average, according to the India Meteorological Department (IMD).
On Friday, Delhi witnessed 47.4 degrees Celsius in Najafgarh, making it the hottest place in the country.
.webp)
Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
The motion called for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, compared to the current level of 4.5 per cent. The increase was proposed at a rate of 0.15 per cent per annum.
.webp)
Shares of Zee Entertainment soared up to 5.2 per cent at Rs 141.65 per share on the BSE in Saturday’s intraday trade. The hike in the stock prices came after the company delivered a turnaround in quarterly growth for the January-March quarter of fiscal year 2023-24 (Q4FY24).
In the March quarter, the company reported a consolidated net profit of Rs 13.35 crore, marking a reversal from a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal year.
.webp)
.webp)
.webp)
.webp)
.webp)
