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Auto parts maker Sona BLW Precision Forgings (Sona) reported strong revenue in the fourth quarter of financial year 2023-24 (Q4FY24) as demand for electric vehicles expands.
The company reported a 19 per cent year-on-year (Y-o-Y) increase in sales to beat street estimates.
Sales were powered by a 34 per cent growth in the battery electric vehicle (BEV) segment and a good show in the differential gear segment. ....
Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24.
Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap.
India s largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition. ....
Berger Paints, the country s second-largest decorative paint maker, continued to outperform its peers and gain market share in the 2023-24 (FY24) October-December quarter (third quarter, or Q3). The company posted a consolidated revenue growth of 7 per cent compared to the year-ago quarter, surpassing Asian Paints (5.4 per cent) and Kansai Nerolac Paints (5.7 per cent). ....
A weaker-than-expected sales performance, concerns about higher competitive intensity in the current year, and earning cuts by some brokerages have weighed on the stock of the country s largest paint maker, Asian Paints.
While the Q3 volume show was slightly below expectations, the company s operational and bottom line beat estimates, benefiting from the falling raw material costs.
The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece. ....
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance.
While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector.
They expect this segment of the software sector to grow by 8-12 per cent going forward. ....