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India’s Jockey licensee is managing margins brilliantly while volume growth stalls. Page Industries delivered a technically clean third quarter, beating Street estimates on both growth and profitability. Yet beneath the headline numbers lies a more nuanced story—one of a premium brand navigating the delicate balance between maintaining margins and revivingContinue Reading

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The financial conglomerate’s long-suffering insurance arms are rebounding.  But is that enough to justify a valuation that’s relied heavily on its stellar lending business? For years, investors saw the financial conglomerate’s underperforming life and general insurance subsidiaries because its flagship lending arm, Bajaj Finance, delivered spectacular returns. Now the insuranceContinue Reading

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India’s state-owned iron ore miner is digging itself into a profitability hole. Higher output can’t compensate for soaring costs and weak pricing power. NMDC is learning a that in commodities, volume isn’t everything. India’s largest iron ore producer posted impressive production numbers in the December quarter—14.7 million tonnes, up 44%Continue Reading

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India’s second-largest paint maker is chasing market share at the expense of profitability, why that may not paint a good hue on the stock Berger Paints India is discovering that winning the volume war doesn’t necessarily translate into shareholder value. The country’s second-largest decorative paints company delivered 8.5% volume growthContinue Reading

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India’s hotel operator is mastering the art of rate increases while learning the hard way that filling new inventory takes time. . For Chalet Hotels, the average room rates surged 16% year-on-year in the December quarter while revenue per available room climbed 12%, according to Philip Capital. But occupancy slippedContinue Reading

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Morgan Stanley’s harsh downgrade signals a structural shift threatening the state aerospace champion’s monopoly India’s state-owned aerospace champion may be losing altitude. Hindustan Aeronautics stock tumbled 6% on February 4 as investors digested a reality: the company that once monopolized India’s military aviation is being systematically sidelined by private competitors.Continue Reading

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India’s consumer lending giant is front-loading provisions in a bet that pessimism today beats nasty surprises tomorrow. Investors aren’t convinced—yet. Bajaj Finance delivered a textbook example of financial prudence. Net profit fell 6% year-on-year to Rs 40.7 billion in the December quarter as provisions surged 77%, driven by what PhilipContinue Reading

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India’s largest private port operator is shifting gears from mere cargo handler to end-to-end supply chain powerhouse—and investors are taking notice Adani Ports & Special Economic Zone is no longer content being just a gateway for India’s trade. The company reported consolidated revenue growth of 22% year-on-year in the DecemberContinue Reading