Key Stock Ideas: Nestle India, Tata Steel, Akasa Air, Ather Energy - ARETE Securities
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Nestle India Q4 profit up 65.5% at Rs 628 cr, credits 'robust demand‘:
Nestle India said on Thursday its net profit in the fourth quarter increased 65.5 per cent to Rs 628.06 crore, crediting the performance to urban and rural sales. Revenue for the company, which follows a January-December financial year, was up 13.6 per cent at Rs 4256.7 crore. Domestic sales of the maker of Maggi noodles and KitKat chocolates were up 13.9 per cent at Rs 4061.8 crore in the quarter. Export sales were up 17.1 per cent to Rs 171.4 crore. The company saw strong growth in prepared dishes and cooking aids segment, as a balance of product mix, pricing and volume helped sales of Maggi Noodles and Maggi Masala-ae-Magic. Milkmaid and ready-to-drink (RTD) offering registered strong growth, but milk products continued to face challenges due to price rise.
Tata Steel signs MoU with CBRI for sustainable mining solutions on Tuesday:
Tata Steel and Central Building Research Institute (CBRI), a constituent of the Council of Scientific and Industrial Research (CSIR), signed an MoU to collaborate on research, academic growth, and sustainable solutions in mining. Under the agreement, CBRI will provide scientific inputs to Tata Steel on slope stability analysis and control measures in mining areas and affordable and sustainable green housing technologies for the rehabilitation and resettlement of families in mining areas. The partnership will also include technical training and workshops on geotechnical understanding and other scientific areas related to mining, the release said.
Akasa Air to place large plane order in 2023, eyes international growth:
Akasa Air will place a "substantially" large order for new narrowbody jets this year, as the start-up budget airline looks to capitalise on booming demand at home and begin international flights, its chief executive told Reuters. The 200-day-old airline currently flies 17 Boeing 737 MAX planes out of a total order of 72 jets to be delivered by March 2027. "Before the end of this year we are going to place another aircraft order that is going to be substantially larger than the 72 aircraft order we have placed," Vinay Dube said during an interview without giving a specific number.
Ather Energy aims to install 2,500 charging stations by this year-end
Ather Energy on Thursday said it plans to install over 2,500 charging stations by this year-end to facilitate a hassle-free transition to EVs. The company has already installed over 1,000 fast charging stations across 80 cities in the country.
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