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Britannia delivered yet another stellar quarter. Traction on sales front continued to be strong, but importantly, the business has now already recouped all the margins that were lost during the recent hyperinflationary phase. We expect the stock to react positively to the result but reckon that the easier part of the stock’s upmove would then be mostly done with

Segment wise, income from interest, surged 30% year-on-year (YoY) to Rs 14,457 crore for the third quarter as against Rs 11,055 crore in the previous year period. Meanwhile, dividend income more than doubled to Rs 482 crore during the quarter.

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A total of 62,847 shares changed hands on the counter till 02:03PM (IST)

Adani Group companies extended the selloff to the sixth day after a report by Hindenburg warned of high leverage and fraudulent practices in group companies. Global bankers Citigroup and Credit Suisse stopped accepting securities of Adani companies as collateral for margin loans

The Relative Strength Index of the stock stood at 18.47 on Thursday.

A high-profit margin is generally considered a positive sign for a company as it indicates that the company is generating a large portion of revenue as profit and is operating efficiently

"I hope we are able to consistently deliver on our promise, consistently deliver on our performance on all metrics. What we have guided on, we will continue to do that. We will achieve our 300-room portfolio by the end of 2025. We will have a balanced portfolio, which means 50%, owned or leased – as that gives us operating leverage in an up cycle – and a 50% portfolio driven through our new businesses and on management fee income. "

For ITC, cigarettes constitute more than 80% of the company’s net profit and about 45% of its topline. Therefore, tinkering in taxes has an impact on the company’s financials.

Second, state governments have been lagging considerably on capex. Third, the revival in private capex remains elusive and given the risks to future demand situations and falling profitability, Indian companies may still be in a wait-and-watch mode.