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Revanna to appear before SIT on May 31

May 27, 2024 - 4:01pm
Categories: Business News

Vi readies 5G launch, rolls out first 5G plan

May 27, 2024 - 3:21pm
In a bid to attract data subscribers Vodafone Idea (Vi), for the first time, is offering extra data allowance for both 4G and 5G smartphone users on Vi network. It announced the ‘Vi Guarantee Program’ for prepaid users, on Monday, which offers 130 GB data to all 5G and 4G phone users. This extra data shall be given over a period of one year. 10GB will be credited to users’ accounts automatically on every 28th day for 13 consecutive cycles, the company said in a release.Also Read: Vodafone Idea may find it tough to raise tariffs after polls, say analystsAvneesh Khosla, Chief Marketing Officer at Vi said, "The 'Vi Guarantee' program is designed to address this growing demand by providing users with an uninterrupted, high-speed data experience."Many smartphone users in India do not maximise the potential of their 4G/5G mobile devices due to a lack of sufficient data, Vi said.“With this offer, users can continue to binge on their favourite content even after their daily quota gets exhausted,” it added.The offer is available for users of 5G smartphones or who have recently upgraded to a new 4G smartphone. Vi users will need to be on a daily data unlimited plan of Rs 239 and above.It is currently available across India except Karnataka, Andhra Pradesh, Madhya Pradesh, Assam and North East and Orissa.
Categories: Business News

Ashok Leyland shares surge 6% after posting 20% YoY increase in Q4 profit. Should you invest?

May 27, 2024 - 2:25pm
Ashok Leyland shares zoomed nearly 6% on BSE today to their new all-time high of Rs 222.80 after reporting a 20% year-on-year (YoY) increase in its Q4 net profit at Rs 900.41 crore.Revenues from operations in the quarter under review stood at Rs 11,266.69 crore as compared to Rs 11,625.67 crore in the year-ago period.Here’s how brokerages view the Q4 performance:JM FinancialDemand momentum in the domestic market continues to remain healthy led by pick-up in replacement demand. The company reiterated its focus on profitable growth. Medium-term demand drivers (higher infra spends, scrappage policy, etc.) remain intact and AL aims for higher share in MHCVs (to c.35%) and LCV led by network expansion and addressing product gaps.JM Financial maintained a 'buy' rating on stock with a target price of Rs 275.Motilal OswalMotilal expects a recovery in CV demand from 2HFY25 onwards as structural demand drivers remain intact. The company is the best investment choice in the CV growth cycle, as it has positioned itself to expand revenue/profit pools. Moreover, its focus on profitable growth driven by lower discounts, a better mix, and cost control measures should bode well for EBITDA margin expansion over FY24-26E.The brokerage firm raised its FY25E/FY26E EPS by 7%/6% to factor in a better gross margin and a lower interest burden.They have a 'buy' call on the stock with a target price of Rs 245.Also read: Divi’s Laboratories shares rally 5% post Q4 results. Should you buy, sell or hold?Kotak Institutional EquitiesKIE expects CV industry volumes to recover post elections, especially driven by the buses segment. Also, they expect profitability of the company to be maintained at current levels in FY2025E driven by increase in non-auto mix and cost-control measures.Kotak has a 'reduce' rating on the stock with a target price of Rs 200.ICICI SecuritiesICICI Securities is expecting overall switch mobility to remain EBITDA positive in FY25 aided by India business' strong pipeline. ICICI Securities has built in flat volumes for the domestic M&HCV goods industry in FY25E, before a 10% dip in FY26E, thus factoring in AL’s M&HCV volume CAGR at 6% over FY24-26E, assuming steady market share.ICICI Securities has a 'sell' view on the stock with a target price of Rs 140.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Categories: Business News

Bibhav threat to me and my family: Maliwal

May 27, 2024 - 1:41pm
Categories: Business News

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