Stock Market Live Updates 26 April 2024 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Jonathan Hunt detailed the investment strategy of Syngene International, facing revenue growth challenges due to US biotech funding delays. Expecting high single to low double digits growth for FY25, with ongoing developments in various company facilities. Hunt says: "We deployed $55 million last year. Next year, we will be a little bit ahead of that."
Management expressed positive long-term outlook for the sector and expressed confidence in Syngene's sustained performance on the back of improved fund flows into US biotech in the latter part of the year.
Today marks a significant day for investors and market participants as several key companies from various sectors are set to announce their fourth-quarter results. Among the notable earnings releases, Hindustan Unilever (HUL), LTIMindtree, Indian Hotels, Axis Bank, Macrotech, and Tata Investment stand out.
Share Market Highlights 24 April 2024: Sensex gains 114 pts, Nifty settles above 22,400 thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Syngene's revenue in the fourth quarter of the reported financial year fell seven percent on a year-on-year basis to Rs 916.9 crore, compared to Rs 994 crore in Q4FY23
The earnings before interest, tax, depreciation and ammortisation dropped 1% YoY to Rs. 333 crore in Q4FY24. The EBITDA margin rose 300 basis points YoY to 36%.