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Consumer packaged-goods makers have reeled from COVID-19-led high costs of raw materials, including that of polyethylene terephthalate (PET) plastic used in packaging sodas, with the onset of the Russia-Ukraine war pushing expenses higher.

The board will also consider the issue of bonus shares subsequent to the stock split and increase the authorised share capital in the given proportion after the alteration of the memorandum of association (MoA) of the company, it added.

Management expects the 2Q NIM decline was transitory and is confident it can maintain NIMs at ~7.5-8% in the near term. The brokerage has even lowered its NIM estimates for the bank by 90bp for FY23F factoring in the impact of interest reversals and cost of funds headwinds.

In the Nifty50 pack, these four stocks crossed their previous 5-year high value at the close on October 31, suggesting bullishness.

The global brokerage expects Airtel to raise tariffs once annually – the next hike before end of CY22 -- and coupled with continued 2G to 4G/5G conversions, it forecasts the telco’s wireless revenues to grow at a 22% FY22-24E CAGR (18% at a consolidated level).

In an exchange filing, Nykaa said its EBITDA improved to Rs 61 crore vs Rs 28.8 crore in the year-ago period. Its consolidated margin also improved to 4.9% against 3.3% on a YoY basis.

The waiting period has started easing across models, but still remains high for XUV700 and Scorpio N. Inventory in the system is 15-20 days. Demand for CVs has remained stable. Inventory in the channel is at optimal levels (20-30 days).

Its revenue from the music segment was at Rs 150.90 crore and Rs 34.08 crore from films, television serials and events. The publication segment contributed Rs 4.18 crore.Total expenses of the RP Sanjiv Goenka Group firm were at Rs 138.50 crore, up 32% from Rs 104.91 crore in the year-ago period.

The brokerage firm expects gross margins to recover over the coming quarters while maintaining a sell rating and a target price of Rs 2,400 on the counter, suggesting a 20 per cent decline from its previous close.

“In 2021, the banking sector was continuing to underperform and investors were looking for places to invest in. Automobile was not performing as well. Capital goods had just started to perform. So at that time, they were willing to divert a part of their money to new age stock opportunities but now people are looking at profit-making sectors and companies.”