Private carrier Jet Airways is re-working a comprehensive profitability plan sought by its foreign partner Etihad Airways, which completed a 24 per cent stake purchase in the Naresh Goyal-led carrier recently.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
India's second-biggest truck and bus maker Ashok Leyland Ltd reported on Friday a 4.7 per cent fall in fourth-quarter earnings despite a 20.8 jump in total income, the Bombay Stock Exchange said.
Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at $2.013 billion, remaining flat sequentially and up by 5.8 per cent year-on-year.
The US Federal Reserve's interest rate decision, quarterly earnings of corporates and domestic macroeconomic data will influence trading in the equity market in a holiday-shortened week ahead, analysts said. Foreign funds' trading activity, monthly automobile sales data and global trends would also guide market movement this week, they added. Markets would remain closed on Monday on account of 'Maharashtra Day'.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
India's largest motorcycle maker Hero Honda Motors Ltd said on Thursday it posted a net profit of Rs 581 crore (Rs 5.81 billion) for the year ended March 31.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.
The country's largest lender State Bank of India on Friday reported a 32 per cent decline in fourth quarter net profit at Rs18.67 billion (Rs 1,866.60 crore).
SBI, which accounts for about a quarter of India's loans and deposits, said standalone net profit fell about 8 per cent from a year earlier to Rs 30.41 billion ($519.8 million) in its fiscal fourth quarter to March 31.
Vedanta Limited (Vedanta) helping its parent and group holding company Vedanta Resources to deleverage its balance sheet has started to strain its balance sheet. Vedanta's gross debt (consolidated) was up 24.3 per cent year-on-year (YoY) in FY23 and reached a six-year high of Rs 66,628 crore by the end of March. Similarly, its net debt went up 20.3 per cent YoY to Rs 45,706 crore at the end of FY23, up from Rs 38,228 crore a year ago; it was the highest since FY20.
Benchmark stock indices Sensex and Nifty cut short their four-day gaining streak to close lower by half a per cent on Wednesday due to profit-taking in banking oil and metal stocks amid weak trends in global markets.
Car maker Maruti is hoping to improve margins.
Bharti Airtel operates in 20 countries across Asia and Africa and is the world's fourth-biggest cellular carrier by customers
India's third biggest cement maker, Grasim Industries, said on Tuesday its January-March net profit, after taking into account extraordinary expenses, was Rs 4.9 million.
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
Although the company's net profit in the corresponding quarter the previous fiscal stood at Rs 448.6 crore, MSI said the figures were not comparable due to the adoption of a new depreciation policy, which has shortened cycles for its equipment and tooling assets. Total income, net of excise stood at Rs 5069.9 crore (Rs 50.69 billion) during the quarter, it said.
Pfizer Ltd has posted a consolidated net profit of Rs 759.40 million for the year ended November 30, 2002 where as the net profit was at Rs 474.90 million for the year ended November 30, 2001.
The erosion in the standalone net profit is mainly on account of higher provisioning against bad loans, operating expenses, including employee cost besides tax outgo of over Rs 900 crore (Rs 9 billion).
If financials and oil sectors were removed, India Inc has done quite well.
US-based IT services major Cognizant on Wednesday reported a 16.3 per cent rise in net profit at $324.3 million for the fourth quarter ended December 31, helped by broad-based growth across industries and geographies.
Punjab National Bank on Monday allayed concerns about its exposure to Adani companies and noted that its loans to the group are diversified into 8-9 companies, which are generating sufficient cash. Atul Kumar Goel, the bank's MD & CEO, in a post-earnings call said total exposure to Adani group, so far, stands at Rs 7,000 crore, of which Rs 2,500 crore is in the airport sector. He further said there is "no worry as the exposure is not very big" and that the bank is keeping an eye on the development that is taking place.
Bharat Earth Movers has posted a 4% increase in net profit to Rs 18.07 crore for the fourth quarter ended March 31, 2003 when compared with Rs 17.36 crore for the corresponding quarter last fiscal.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
Given the uncertainty on the US economic outlook, the rising rupee, and the lack of clarity on imposition of fringe benefit tax on stock options, analysts believe the companies may strike a note of caution on FY08 earnings.
An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
Strong Q3 brings Infosys comfort amid macro risks.
Helped by all-round business growth, country's largest software exporter Tata Consultancy Services on Wednesday reported 22.1 per cent jump in net profit at Rs 3,596.9 crore for the March quarter, meeting expectations.
'Winning a deal is one aspect, making sure that we are able to execute it profitably is also important' says Rajesh Nambiar.
The company had posted a net profit of Rs 1,614.36 crore (Rs 16.14 billion) in the same period of previous fiscal.
The One97 Communications stock saw a surge in interest as the company's operating performance update for August was considered positive by the Street. In addition, there was a news buzz as the company released a new hitech soundbox, which has longer battery life and processes all major cards. The performance indicates that the company, which is better known by its Paytm brandname, is still on course to achieve its guidance of going cashflow positive by the end of the 2023-24 financial year (FY24).
Its total income was down 4.9 per cent at Rs 14,304.6 crore
The trend in corporate earnings suggests that index earnings could fall to the levels last seen in early 2014.
State Bank of India, the country's largest bank, said on Thursday its March quarter net profit rose 20 per cent year-on-year on a surge in retail lending in a buoyant economy, but its shares fell as the numbers were below expectations.
