Mankind Pharma is coming out of a long consolidation with strong volumes. The overall structure is very bullish as the stock trades above its all-important moving averages.
IDFC First Bank Ltd and IDFC Limited have received board approvals for the proposed merger. This comes days after HDFC merged with HDFC Bank in a $40-billion deal, the largest in India's corporate history.
Broker s call: Avenue Supermarts (Buy)
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Updated on
CMP: ₹2849.65
Avenue Supermarts Ltd (DMart) owns & operates India’s most profitable supermarket, DMart. It provides products like Food, Non-Food (FMCG), General Merchandise & Apparel through 234 stores (total 8.82mn sq. ft).
We upgrade to Buy rating with a revise target price of ₹3,130 factoring strong recovery in the quarter and recent correction in stock price.
For Q4-FY21, DMart reported healthy growth in revenue at 18 per cent Y-o-Y & strong growth in PAT at 52 per cent Y-o-Y (de-growth in first two quarters). EBITDA/PAT margins improved by 170/130 bps YoY each to 8.4 per cent/6 per cent aided by improvement in sales & gross margin.
An Indian court on Monday left it to regulators to decide the fate of the $3.38bn sale of Future Group’s retail assets to Reliance Industries Ltd, but allowed United States partner Amazon.com Inc to raise objections to it.
Hammered by the coronavirus pandemic, Future sold its retail assets to oil-to-clothes conglomerate Reliance in August but Amazon said the deal breached agreements Future made with the US e-commerce leader in 2019.
Analysts expect the Reliance deal, which has now cleared anti-trust hurdles to go through, despite the High Court of Delhi on Monday dismissing a plea from Future to restrain Amazon – which owns a small indirect stake in Future Retail – from interfering in the transaction.
Delhi High Court dismisses Future Group s plea against Amazon
In October, Amazon had won an injunction to halt the sale from a Singapore arbitrator that the sides had agreed to use in case of a dispute.
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Updated: Dec 21, 2020, 04:54 PM IST
The New Delhi High Court on Monday dismissed a plea from India s Future Group that sought to restrain US partner Amazon.com Inc from interfering in its $3.4 billion asset sale to Reliance Industries Ltd.
Future sold its retail assets in August to Reliance Industries in a deal Amazon said breached agreements Future made with the US e-commerce leader in 2019.