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Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter surged 43% YoY to Rs 660 crore, with margins expanding by a staggering 450 basis points to 25.6%.

Aeroflex filed its preliminary IPO papers with the regulator in March of this year. Prior to the IPO, prominent investors, including Ashish Kacholia and Jagdish Master, acquired stakes in the company

Distributable earnings, which represents the cash used to pay dividends to shareholders, fell to $388.8 million from $528.8 million a year earlier. That translated to after-tax distributable earnings per share of 88 cents, which surpassed the average estimate of 67 cents, according to Refinitiv data.

It plans to sell $103 billion in its quarterly refunding next week, which will raise $19 billion in new cash and refund $84 billion in securities. This will include $42 billion in three-year notes, $38 billion in 10-year notes and $23 billion in 30-year bonds.

Dow Jones Industrial Average falls 79 points, S&P 500 opens lower by 26 points and the Nasdaq Composite drops 151 points at the opening bell

During the quarter, revenue from operations is expected to grow by an industry-leading 11% year-on-year, according to an average estimate from six analysts. However, this figure is estimated to be just under 1% quarter-on-quarter.

The daily momentum indicator has a negative crossover which is a sell signal, and the indicator is still away from the equilibrium line indicating that the weakness can continue

This indicates international investors’ faith in Indian companies for their potential for growth and profitability

Peer Havells India reported higher June-quarter profit on stronger demand for wires and cables, underscoring the rising infrastructure spending by the federal government

The stock market witnessed notable movements as several stocks surged above their 20-day Simple Moving Average (SMA) on 1st August 2023, indicating bullish momentum. Investors are closely observing these stocks for potential investment opportunities in the market