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Auto segment revenues increased 32% year-on-year, led by volumes and ASP. FES revenues to increase 24% YoY on 23% YoY increase in volumes and flat ASPs. Overall EBITDA margin to improve 20 bps QoQ to 13.2% on price hikes, offset by weak mix.

Equity markets ended with marginal gains on Thursday, apart from Oil & Gas, PSU Bank and Financials sectors. The US debt ceiling uncertainty and a stronger dollar weighed on investors’ sentiments. Ajit Mishra, VP - Technical Research, Religare Broking, said the index consolidation may continue, citing mixed indications. Traders should focus on handling intermediate volatility, look for opportunities in trends, and focus on sector stocks showing consistency in their trend instead of betting on laggards.

On like-to-like financials, the CDMO business that contributes 57% of revenues, declined 8% YoY to Rs 2164 crore. The complex hospital generics business grew 28% due to strong demand for the inhalation anesthesia portfolio. The consumer health business sales rose 5% to Rs 206 crores driven by sustained marketing and brand building efforts

The US business reported a third consecutive quarter of over $60 million in revenues in Q4FY23, while other regulated markets recorded the highest quarterly sales of $48 million. The company attributed the US sales to new product introductions and solid base performance,

The Nasdaq Composite rose 222.28 points, or 1.78%, to 12,706.44 at the opening bell

Vardhman Special Steels, a producer of special and alloy steels in India, will trade ex-bonus on May 26, according to an announcement of a bonus issue of equity shares in proportion of 1:1. The bonus issue will be subject to approval of shareholders of the company. The issuance of bonus shares aims to increase the liquidity of the stock as well as to decrease its stock price to make it affordable for investors. On Thursday, shares of Vardhman Special Steels closed 2.35% lower at INR414 per share on the NSE.

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment

The Nifty FMCG index hit a new record high of 49,825 in intraday trade, and the BSE FMCG index also hit a record high. In the same sector, historical data suggests that FMCG stocks outperform the broader market during correction phases and Piyush Chaudhry recommended three FMCG stocks for trading

Initial public offering (IPO) is the process by which a private company sells its stocks to the general public while direct listing is when a company lists on an exchange.