Ravi Infrabuild Projects Limited plans to raise Rs 1,100 crore through an IPO. The company has filed papers with SEBI for approval. The IPO consists of a fresh issue of equity shares. Funds will be used for equipment purchase and debt payment. The construction company focuses on roads, highways, and bridges. Their order book stands at Rs 3,092 crore.
NASDAQ-listed Elbit Systems rose 4.7% over two days, from $400.00 on May 6 to $418.97 on May 8, following Indias initiation of "Operation Sindoor", a coordinated cross-border operation involving missiles and loitering munitions.
Hotel stocks plummeted, with Indian Hotels Company leading the decline at 6.8%, amid escalating India-Pakistan tensions following drone strikes by Pakistan. India responded with counterstrikes and blackouts in border districts. These events follow India's precision missile strike on terror camps and continued ceasefire violations by Pakistan, further heightening regional instability.
Multi Commodity Exchange of India (MCX) reported a significant 54% increase in consolidated net profit for Q4FY25, reaching Rs 135 crore, driven by a 61% surge in revenue. For the entire fiscal year, net profit skyrocketed by 574% to Rs 560.04 crore, fueled by strong operating leverage and a substantial rise in average daily turnover of futures and options.
Kalyan Jewellers reported a robust Q4FY25, with consolidated revenue surging 37% YoY to Rs 6,182 crore and net profit climbing 36% to Rs 188 crore, fueled by strong domestic and international demand. For FY25, revenue reached Rs 25,045 crore, a 35% increase, while net profit rose 20% to Rs 714 crore.
The recently concluded Free Trade Agreement between India and the United Kingdom is expected to benefit both nations economically and could also pave the way for similar agreements with other countries such as the United States and the European Union, says a report by Bank of Baroda.
Following the closure of 27 airports due to the ongoing military situation, aviation stocks are under scrutiny. Airlines like IndiGo and Air India are rerouting flights and offering fee waivers for affected routes. Passengers are advised to arrive at airports at least three hours early due to heightened security measures prompted by ceasefire violations along the LoC.
The earnings season is gaining speed. Swiggy anticipates steady revenue growth, driven by quick commerce and food delivery. However, profitability may face pressure. Losses could widen. Dr Reddy's is projected to report a net profit increase. Revenue from operations is also expected to grow. Several other companies, including ABB India and Bank of India, will also announce their results.
