Share Market Live: Sensex, Nifty Volatile; Bajaj Finserv Declines 3%
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BPCL Asset Sale Delayed As Suitors Struggle For Partners: Bloomberg
India's plan to privatise BPCL has run into rough weather
Bidders struggling to find partners and spread their financial risks.
Vedanta Group, Apollo Global and I Squared Capital talking to global energy giants and pension funds.
Some bidders finding it difficult to invest due to sustainability rules.
Source: People familiar with the matter
India To Import Coking Coal From Russia: Steel Minister
India has signed a preliminary agreement with Russia for importing metallurgical coal: Steel Minister Ram Chandra Prasad Singh
India will seek application for specialty steel investments under PLI plan: Steel Minister
SAIL examining bidding for government's PLI scheme: Soma Mondal, Chairman, SAIL.
Analyst Call: Reliance Industries, Supreme Industries
Reliance Industries reinstated 'hold' at IDBI Capital Market; Price target: Rs 2,825.
Supreme Industries raised to 'hold' at IDBI Capital Market; Price target: Rs 2,702.63.
Supreme Industries raised to 'buy' at BOB Capital Markets; Price target: Rs 2,735
Source: Bloomberg
Colgate-Palmolive Q2 Net Income Misses Analyst Estimate
Shares of Colgate-Palmolive India Ltd. slipped after the company reported net income for the second quarter that missed the average analyst estimate.
September quarter results (Consolidated, QoQ)
Net income up 15.38% at Rs 269.17 crore vs Rs 233.23 crore (Bloomberg Consensus Estimate: Rs 290 crore)
Revenue up 16% at Rs 1,343.96 crore vs Rs 1,157.86 crore (Estimate: Rs 1,370 crore)
Total costs at Rs 998.05 crore vs Rs 856.99 crore
Other income at Rs 6.51 crore vs Rs 5.21 crore
Company declared a first interim dividend of Rs 19 per equity share of Re 1 each (face value) for the Financial Year 2021-22. The record date for the interim dividend is November 2. The company also approved the reappointment of M Chandrasekar as a Whole-time Director for five years with effect from January 2, 2022.
Of the 36 analysts tracking the company, 20 maintained 'buy', 12 maintained 'hold' and four maintained 'sell' recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 17%.
United Spirits On Track For The Longest Losing Streak In Over Three Years
United Spirits Ltd. is lower for the eighth straight day, on track for the longest losing streak since the period ended May 15, 2018.
United Spirits has lost a total of 8.3% during the streak while the Sensex increased 1.3%.
United Spirits will report its earnings for the quarter ended September on Wednesday. The company beat EPS estimates four time in the past eight quarters.