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.
Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment.
Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth of 19 per cent.
The company highlighted that new buyer growth was at 15 per cent while average ticket size was up 8 per cent.
By Ram Prasad Sahu Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment. Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent.
By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period.
Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
PhillipCapital Research has taken a liking to Uni-Asia Group, which expanded into ship and property investments in 2010, thanks to record earnings from surging charter rates. Analysts from PhillipCapital have initiated coverage on Uni-Asia with a “buy” recommendation and target price of $1.26, pegged to 3x price-to-earnings ratio (P/E) for FY2022. This would give the .