Rating: hold; Marico: Positive outlook for FY24

By Nuvama estimates Marico, India’s leading consumer goods company reported its Q4FY23 results which showed a y-o-y revenue growth of 3.7%, Ebitda growth of 13.6%, and PAT growth of 20.3%, exceeding the analyst’s estimates, but below the consensus. The domestic business volumes increased by 5% y-o-y, but value growth was only 2% y-o-y due to […]

Avalon Technologies, Udayshivakumar Infra get Sebi’s nod to float IPO

Electronic manufacturing services provider Avalon Technologies and construction firm Udayshivakumar Infra have received capital markets regulator Sebi’s go ahead to raise funds through initial public offerings (IPOs). The two companies, which filed their respective preliminary IPO papers with the markets regulator during August and September 2022, obtained observation letters from it on January 16, an […]

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