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The net profit was higher than an ET Now poll of Rs 512 crore, while the revenue was largely on expected lines. The two-wheeler maker’s operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), grew by 22% on year to Rs 900 crore. The EBITDA margin for the quarter was 11%, compared to 10.2% a year ago.

"As reported in July 2023, our results for the first quarter were significantly impacted by the changes to the FX market in Nigeria, introduced by the central bank. While the changes are required for the long-term benefit of the Nigerian economy, the immediate impact of the naira devaluation continues to weigh on our reported financial performance in the period," said Olusegun Ogunsanya, group chief executive officer, Airtel Africa.

US financial services major Capital Group has been allocated 8.77% of the anchor investor portion, followed by crossover investor Fidelity, Norges Bank and Abu Dhabi Investment Authority (ADIA).

Morgan Stanley said a supportive earnings upgrade cycle, strong festive demand along with rising margins and market share are likely to be key drivers of the stock.

Many stocks from cyclical and emerging sectors have run way ahead of their revenue and earnings visibility and are witnessing a reversion to mean, said analysts.

Consumer goods company Marico Ltd on Monday reported 17% growth in its consolidated net profit at Rs 353 crore for the quarter ended September.

Such a portfolio returned a compound annual growth rate (CAGR) of 12.2% over the 1990-2023 period, with a standard deviation of 14.3%, according to the study.

"In thematic funds, investors often enter at the wrong time and often join after a period of high returns and get disappointed. With this move, we want to encourage investors to invest systematically and even out volatility," said Radhika Gupta, CEO of Edelweiss Mutual Fund.

Onsemi, which has laid off 1,360 employees so far this year, forecast revenue of $1.95 billion to $2.05 billion, below expectations of $2.18 billion. In an interview, El-Khoury said the company still expects EV demand to grow, but more slowly. The job cuts announced Monday had been planned as part of a larger strategy shift to internally manufacture its more profitable chips and save costs by outsourcing other chips.