Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment s higher growth rates.
The June quarter numbers of the country s largest listed healthcare services provider, Apollo Hospitals Enterprise (Apollo), were in line with Street estimates on the operational front.
Net profit estimates, however, missed expectations due to higher interest and tax outgo.
The revenue performance of the core hospital segment was robust, registering a 13 per cent increase over the year-ago quarter.
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
The stock of the country s largest listed oral care company Colgate-Palmolive (India) Ltd is up 18 per cent over the past month.
The gains were led by better than expected June quarter (Q1) performance of the 2023-24 financial year (FY24) and growth revival expectations of the oral care category.
The company s volume growth is pegged at 5-8 per cent in Q1FY24.
This is the second consecutive quarter of volume growth.
The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates.
A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price.
The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent.