EPS' real test will commence with a decision whether or not to patch up with OPS and on what terms -- and then, to decide whether or not to have the BJP for an electoral ally, come 2024, observes N Sathiya Moorthy.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
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Though another 75 candidates are in the fray, the Elangovan-Thennaruasu fight has become a prestige battle for the DMK and AIADMK, points out N Sathiya Moorthy.
News reports that GE Aerospace has delivered the first of 99 F404-IN20 engines ordered by Hindustan Aeronautics (HAL) for the Tejas Mk-1A has revived interest in the HAL stock.
Unless Governor Ravi or the Union of India moves in appeal, seeking a hearing by a constitutional Bench, this is where it all will have to end, observes N Sathiya Moorthy.
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Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
Senior advocate C Aryama Sundaram, appearing for EPS, mentioned before a bench of Justices Dinesh Maheshwari and Hrishikesh Roy and raised concerns over the problems in filing nominations in the Erode (East) by-election.
Buying stocks during a dip, says Amar Nandu, research analyst, Samco Securities, can lead to higher compounding returns when the uptrend begins.
While followers of both Palaniswami (EPS) and Panneerselvam (OPS) were engaged in backroom negotiations to mobilise the support of party functionaries for their respective leaders, parleys continued as well to resolve the bickering well ahead of the June 23 General Council meeting.
What will a split in the AIADMK mean for Tamil Nadu?
Shares of Tata Consultancy Services (TCS), the country's largest IT services provider, continue to remain under pressure, hitting a new eight-month low of Rs 3,624.90 intraday on Tuesday before closing at Rs 3,631, down 1.19 per cent. In the past two trading sessions, the stock price has declined 4 per cent on fears of a slowing US economy.
Justice Krishnan Ramaswamy delivered the verdict on Monday morning, which allowed the EPS faction to hold the GC meet, the supreme decision making body of the main opposition party in Tamil Nadu.
Delhivery share price dropped 6.6 per cent to a low of ?295.8 per share on the BSE on Monday after analysts cut their earnings estimate on the stock, following weak results for the December quarter (Q3) of the current financial year (FY25). Q3 is a seasonally strong quarter due to festive pick-up in demand.
'Geopolitics will be the most important driver of financial markets in 2025.'
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The pre-sales volume of Godrej Properties (GPL) for third quarter of the financial year 2025 (Q3FY25) declined 6 per cent year-on-year (Y-o-Y) -- down 21 per cent quarter-on-quarter (Q-o-Q) -- to 4.1 million square feet (msf), resulting in a pre-sales value of Rs 5,450 crore, down 5 per cent each Y-o-Y and Q-o-Q. About 77 per cent came from newly launched projects. For 9MFY25, pre-sales were up 48 per cent Y-o-Y to Rs 19,300 crore.
Incidentally, Pannerselvam's call for unity also pertained to deposed AIADMK leader VK Sasikala and her nephew TTV Dhinakaran.
The Supreme Court on Friday asked the Madras high court to adjudicate in three weeks the pleas filed by O Panneerselvam (OPS) and others against the July 11 general council meet of the All India Anna Dravida Munnetra Kazhagam (AIADMK) in which OPS was expelled from the party.
The Supreme Court on Thursday upheld a Madras high court order allowing Edappadi K Palaniswami to continue as interim general secretary of the All India Anna Dravida Munnetra Kazhagam, establishing his position as the single, supreme leader of the party.
In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services. High teens earnings per share or EPS growth is expected for the next two-three financial years. The hopes are backed by deal wins of above $100 billion as at Q1FY25, up 16.6 per cent year-on-year ( Y-o-Y).
A division bench of the Madras high court on Thursday dismissed a contempt application seeking to punish former Chief Minister and All India Anna Dravida Munnetra Kazhagam leader Edappadi K Palaniswami and his supporters for alleged non-implementation of its earlier orders.
Shares of Bajaj Finance surged over 6 per cent on Thursday after the diversified non-banking finance company reported an 18 per cent increase in consolidated net profit to Rs 4,308 crore for the December quarter. The stock rallied 6.33 per cent intraday to touch Rs 8,249.95 - a 52-week high -- on the BSE.
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
Asserting that the dharma yudham is on, Panneerselvam, popularly known as OPS said he and his followers would go to the people to seek justice.
The Supreme Court on Monday said that it would hear on July 6 a plea filed by former Tamil Nadu Chief Minister Edappadi K Palaniswami challenging the Madras high court order staying the passing of any unannounced resolutions in the meeting of the All India Anna Dravida Munnetra Kazhagam general and executive councils concerning the issue of single leadership of the party.
As the Indian equity markets scale a new high, the gap between stock prices and the underlying corporate earnings has widened to its highest level in more than 30 years. At its current level, the benchmark BSE Sensex has run up nearly 31 per cent more than the growth in its underlying earnings per share (EPS) in the past 20 years. Most of the divergence between share prices and underlying earnings growth occurred in the past 10 years.
They teamed up with a former AIADMK leader KC Palanisami and appealed to the AIADMK general secretary Edappadi K Palaniswami and Panneerselvam to merge their factions and strive for the united AIADMK's victory in the 2026 assembly election.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
The revived factionalism in the AIADMK, if not curbed now, has the potential to split the party vertically, warns N Sathiya Moorthy.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
Without strategising together, Jayalalithaa's successor, Chief Minister Edappadi K Palaniswami, and M Karunanidhi's son-cum-successor, M K Stalin, have used tough-talking on seat-sharing with allies, to replace charisma that they purportedly lacked, during the run-up to the assembly polls scheduled for April 6, says N Sathiya Moorthy.
Assembly Speaker M Appavu said leaders of the two AIADMK factions submitted him 6 letters, including 4 from Palaniswami, asking for separate seating arrangement in the Assembly for their respective members.
'Both are mature enough to realise that a break will not benefit either of them and both will be losers'
The Madras High Court on Tuesday dismissed as not maintainable, a public interest litigation (PIL) petition challenging the organisational polls of the opposition AIADMK, where incumbents O Panneerselvam and K Palaniswami were elected unopposed as Coordinator and Joint Coordinator, respectively, of the party.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
Presiding over a Christmas event in Chennai, Panneerselvam, quoting the preaching of Jesus Christ, said if those who commit wrongs reform and return, accepting them back is leadership quality.
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