Nomura has reiterated its Buy rating on Lodha Developers and raised its sum-of-the-parts (SOTP)-based target price to Rs 1,280 from its earlier estimate, citing additional value from the company's planned data centre land monetisation.The brokerage said it has factored in the incremental value arising from the sale of around 140 acres of land earmarked for data centres. "We moderately raise our TP...

Nomura has maintained its Buy rating on Jindal Steel but trimmed its target price to Rs 1,300 from Rs 1,350 after the steelmaker reported stronger-than-expected earnings for the June quarter.The brokerage said, "Jindal Steel reported consolidated EBITDA of Rs 26.6 billion, beating our forecast and the Bloomberg consensus estimate by 13% and 7%, respectively." It attributed the earnings beat to str...

Cigarette maker Godfrey Phillips India shares declined 7.5?ay after the company reported an on-year decline of 44.3% in consolidated net profit to Rs 198.39 crore for the June quarter of this financial year, on account of a rise in taxes.The company had posted a net profit of Rs 356.28 crore during the April-June period a year ago, according to a regulatory filing from Godfrey Phillips India, the ...

Varun Beverages on Tuesday reported a 15.5 percent year-on-year (YoY) rise in its consolidated net profit to Rs 1,521 crore for the April-June quarter, aided by strong volume growth across India and international markets. However, the earnings fell short of market estimates, dragging its shares lower.The company had posted a net profit of Rs 1,317 crore in the corresponding quarter of the previous...

Shares of HDFC Bank declined in morning trade on Tuesday after the private lender disclosed that its board had imposed a monetary penalty on Managing Director and Chief Executive Officer Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan and Group Head (Retail Assets) Arvind Vohra following an internal review of its arrangement with the Maharashtra State Road Development Corporat...