'From the Indian perspective, young customers with more disposable income will also drive the growth.'
Reliance Industries Ltd on Friday reported a 2.4 per cent rise in its March quarter net profit as store rationalisation in retail business and improved margins in telecom helped offset weakness in mainstay oil and petrochemicals business and higher finance cost. Consolidated net profit of Rs 19,407 crore, or Rs 14.34 per share, in January-March - the fourth quarter of April 2024 to March 2025 fiscal (FY25) - was higher than Rs 18,951 crore, or Rs 14 a share, in the same period a year back, the company said in a statement.
The Virtus is indeed designed to look, act and behave like a well-built European sedan that swims in the segment between the compact sedan VW Vento and the larger Passat, says Pavan Lall.
India's industrial production growth slipped to 3-month low of 5 per cent in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data released on Wednesday. Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4 per cent in March and 5.6 per cent in February 2024. The previous low of IIP was recorded at 4.2 per cent in January, 2024.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
Hindalco's India business, including Utkal Alumina, reported good results for the January-March quarter of the financial year 2024-25 (FY25) and consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) also rose. Earnings growth was driven by favourable pricing, lower input costs and lower tax outgo for Novelis.
The Reserve Bank of India (RBI) on Wednesday came out with comprehensive draft guidelines to harmonise and regulate gold loans across all financial entities, including putting a cap of 75 per cent on loan-to-value (LTV) ratio. The draft guidelines also aim to address concerns related to certain lending practices, provide clarity on specific aspects, and strengthen the conduct-related standards in the sector.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Dixon Technologies' January-March quarter (Q4) results came in well below expectations, but the potential for signing up a new mobile client, and plans for backward integration into display manufacturing kept investors happy. Dixon's Q4FY24 revenue grew 52 per cent year-on-year (Y-o-Y) to Rs 4,660 crore, below Street consensus, due to weakness in consumer electronics (Rs 890 crore) and home appliances (Rs 294 crore) segments.
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
Playing as the opener, Sanju Samson has made just 39 runs in the first two T20 Internationals against Bangladesh.
Biryani is set to get its own valuation. Devyani International, the largest franchisee of Kentucky Fried Chicken (KFC) quick-service restaurants (QSRs) in India, is considering the acquisition of Sky Gate Hospitality, which operates restaurants under the brand Biryani By Kilo (BBK), it said in a statement to BSE on Monday.
India's industrial production growth slows to 3.2 per cent in December 2024, mainly due to poor performance of mining and manufacturing sectors, according to official data released on Wednesday. The government has also revised the November 2024 IIP figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month.
After declining to a three-year low in FY24, the private sector investment is expected to fall further in the current financial year, India Ratings said in a research note.. The investments in the private sector are likely to plummet to below 11 per cent of the GDP in FY25, based on the trends from the latest national accounts data and company fillings, it noted.
'When one air force (India's) hits the other's airbases with impunity and that air force (Pakistan's) is not able to respond, then the air force, which has put the other's airbases out of commission, has won.'
The private corporate sector showed improvements across various segments in the third quarter of the current financial year (Q3FY25), with the operating profit margin of listed non-financial companies increasing sequentially by 50 basis points (bps) to 16.2 per cent, according to the Reserve Bank of India (RBI) data released on Monday. Sales of listed private non-financial companies increased by 8.0 per cent during Q3FY25, compared to 5.5 per cent in the corresponding quarter a year ago. It was, however, 5.4 per cent in Q2FY25.
The stock of mall developer and commercial real estate major, The Phoenix Mills (Phoenix), is up 26 per cent since its business update in the third week of January. The gains came on strong December quarter performance and the consumption boost in the Budget which is expected to help the company sustain its growth trends.
Industrial base metals major Hindalco delivered a strong consolidated performance during the January-March quarter (Q4) of FY24. Consolidated revenue was reported at Rs 56,000 crore, up 6 per cent quarter-on-quarter or Q-o-Q (flat year-on-year or Y-o-Y), with better realisation and higher India volumes.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
In 2024 alone, South India saw the highest rise in sales in the luxury segment, with Tamil Nadu reportedly registering a 19.3 per cent increase in premium car registrations from 2022-23
Defying the bearish sentiment in the markets on Monday, ICICI Bank's share price rose by 2 per cent, reaching an intraday high of Rs 1,234.4 per share on the BSE. With a 1.5 per cent gain at the close, the stock emerged as the top performer on both the BSE Sensex and the National Stock Exchange Nifty 50 indices.
Index funds and exchange-traded funds (ETFs) have added a record number of investment accounts in 2024, buoyed by the sectoral and thematic investing euphoria that has spilled into the passive space.
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
Bharat Electronics (BEL) reported excellent results for the January-March quarter (Q4) of FY24, which were driven by decent EBITDA margins and higher PAT as well as good revenue growth. Order inflows were also good. BEL is a major beneficiary of the policy of defence indigenisation.
Markets regulator Sebi has notified a stricter regulatory framework for small and medium enterprise (SME) IPOs by introducing a profitability requirement and capping a 20 per cent limit on offer-for-sale (OFS). The reforms aim to provide SMEs with a sound track record an opportunity to raise funds from the public while protecting investor interests. This move follows a rise in SME issues, which has driven significant investor participation.
After a strong show during the September quarter (Q2FY25) and favourable demand conditions, going ahead, the country's largest player in the room air conditioner segment, Voltas is well placed to improve its market share. Expectations of record volumes in FY25 for the sector and the company's strategy of prioritising market share over margins could help the leader expand share in the room AC segment.
French auto major Renault on Monday said it will buy out its Japanese partner Nissan's stake in their Indian joint venture -- Renault Nissan Automotive India Private Ltd. Renault Group would own 100 per cent of Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring the 51 per cent shareholding currently held by Nissan, the company said in a statement.
The stock of Aditya Birla Fashion Retail is down 10 per cent from its February high. Even as the revenue performance of the apparel retail major in the October-December quarter's for the 2022-23 financial year (Q3FY23) was better than expected, the company saw brokerage downgrades, given the weak operating performance and the pressure on margins. This the second consecutive quarter of margin miss despite strong traction on the sales front.
Automobile giant Tata Motors' shares were in demand on Wednesday as the stock rallied as much as 3.69 per cent to hit an intraday high of Rs 671.80 per share, before settling 3.18 per cent higher at Rs 668.45. By comparison, the BSE Sensex settled 0.10 per cent, or 72.56 points, lower at 74,029.76.
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
Major two-wheeler (2W) manufacturers in India witnessed a single-digit decline in domestic sales in November after dispatches had picked up in October for the festive season when wholesales went up by 14 per cent and retail also grew by 36 per cent.
On average, stocks that debuted last year are down 37 per cent from their peak levels.
'To be able to sail through such volatilities, it is prudent to focus on quality.'
For investors who missed the initial IPO frenzy, the market correction is an opportunity to selectively invest in promising names, but patience and careful evaluation remain the key.
Homegrown fast-moving consumer goods (FMCG) major Dabur India is set to record low single-digit growth in consolidated revenue in the December quarter, it said in an update on Friday. The maker of Hajmola candy and Real fruit juice said rural consumption continued to be resilient and grow faster than urban in the third quarter.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
The revenue growth of Indian companies for the July-September quarter is estimated to be 5-7 per cent year-on-year (Y-o-Y), marking the slowest growth in 16 quarters, rating agency CRISIL said on Thursday.
Rising demand for premium devices, led by Apple and Samsung, is expected to increase India's smartphone market size to over $50 billion (about Rs 428,900 crore) this year, market research firm Counterpoint Technology Market Research said on Friday. The Indian smartphone market size was estimated at $37.9 billion (about Rs 3.25 lakh crore) in 2021, according to the research firm.
Domestic rating agency ICRA on Monday said Indian companies are likely to clock 7-8 per cent revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending. ICRA expects the private capital expenditure (capex) cycle to remain measured in view of the uncertainties around geopolitical developments and relatively subdued outlook on merchandise exports from India.
