Cipla reports 10% growth in PAT

The Markets Today in a nutshell

• Domestic stock market ended on a negative note.
• Weak global cues and sluggish growth outlook from companies spooked investors. Relentless selling by FIIs also dented sentiment. Volatility persisted amid monthly and weekly derivatives expiry on the NSE.

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News you could use

👉 Bajaj Auto share price despite weak market conditions
Bajaj Auto reported a standalone net profit of Rs 1,491 crore for the quarter ended December 2022, clocking a 23 percent rise over Rs 1,214 crore a year ago. Its revenue from operations came in at Rs 9,315 crore, increasing 3 percent from Rs 9,022 crore in the corresponding quarter last year

👉 TVS Motors share price up 5 percent
Jefferies stated that they see a 57 percent upside to the stock. They cited improving profitability profile, buoyancy in the auto category, better product portfolio and the auto major’s increasing market share in the electric-vehicle segment as reasons. They see TVS Motors’ earnings almost triple over FY22-25 and find the valuation — 21x/17x FY24/FY25 — attractive, given that the last 10-year average is 25x FY24.

👉 Cipla reports 10 percent growth in PAT
Cipla posted a consolidated profit after tax (PAT) of Rs 801 crore for the quarter, increasing by 10 percent from Rs 729 crore reported in the same quarter last year, missing estimates. It had reported a profit of Rs 789 crore in the September’22 quarter.

News from the IPO world🌐

• SEBI asks PayMate India to refile IPO papers with certain updates
• Avalon Technologies, Udayshivkumar Infra get SEBI’s nod to float IPO
• Gayatri Rubbers IPO opens on 25th Jan

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