Latest news with #VarrocEngineeringLimited
Business Insider
01-06-2025
- Business
- Business Insider
ICICI Securities Sticks to Its Buy Rating for Varroc Engineering Limited (VARROC)
ICICI Securities analyst maintained a Buy rating on Varroc Engineering Limited (VARROC – Research Report) on May 30 and set a price target of INR610.00. The company's shares closed last Friday at INR528.65. Confident Investing Starts Here: Currently, the analyst consensus on Varroc Engineering Limited is a Moderate Buy with an average price target of INR525.00. Based on Varroc Engineering Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR18.99 billion and a net profit of INR324.06 million. In comparison, last year the company earned a revenue of INR17.92 billion and had a net profit of INR322.57 million
Business Insider
01-06-2025
- Automotive
- Business Insider
Citi Keeps Their Sell Rating on Varroc Engineering Limited (VARROC)
In a report released on May 30, Arvind Sharma from Citi maintained a Sell rating on Varroc Engineering Limited (VARROC – Research Report), with a price target of INR510.00. The company's shares closed last Friday at INR528.65. Confident Investing Starts Here: Sharma covers the Consumer Cyclical sector, focusing on stocks such as Eicher Motors Limited, Exide Industries Limited, and Hero Motocorp Limited. According to TipRanks, Sharma has an average return of 2.7% and a 54.17% success rate on recommended stocks. Currently, the analyst consensus on Varroc Engineering Limited is a Moderate Buy with an average price target of INR525.00. Based on Varroc Engineering Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR18.99 billion and a net profit of INR324.06 million. In comparison, last year the company earned a revenue of INR17.92 billion and had a net profit of INR322.57 million
Business Upturn
07-05-2025
- Automotive
- Business Upturn
Varroc Engineering receives RMB 310.5 million from stake sale in JV after enforcement award
By Aditya Bhagchandani Published on May 7, 2025, 15:07 IST Varroc Engineering Limited has announced that its wholly owned subsidiary, VarrocCorp Holding B.V. (Netherlands), has received RMB 310.5 million (before withholding tax) following the transfer of its 50% stake in Varroc TYC Corporation, British Virgin Islands, to Beste Motors Co. Ltd. This update follows a favorable enforcement order from the Eastern Caribbean Supreme Court in the British Virgin Islands, implementing an earlier ICC Singapore arbitration award dated December 11, 2024. The original dispute stemmed from alleged breaches by TYC of the 2013 shareholders' agreement and JV articles of association concerning two subsidiaries in China: Varroc TYC Auto Lamps Co. Ltd., Changzhou, and Chongqing. With this enforcement now completed, Varroc no longer retains interest in the JV subsidiaries and has also been awarded reimbursement for the enforcement proceedings' costs. The transaction marks a strategic exit for Varroc, closing a long-standing dispute, and helps unlock value from its international holdings without any further claims pending. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
