Despite a firm improvement in the operational metrics of new-age companies during the January-March quarter (Q4FY23), analysts remain cautiously optimistic about their outlook. This is because the shares of these firms are still not risk free, as per analysts, given the companies are yet to make profits. Kranthi Bathini, director-equity strategy at WealthMills Securities says that while the sentiment around these stocks, which includes Paytm and Zomato, has turned positive, it remains to be seen how soon these firms turn profitable and improve margins.
The Oil prices have surged and surpassed $85 per barrel after several oil producer countries announced surprise cuts in production, TASS Agency reported. According to the Russian News Agency, this is the first time since March 7 that the price of futures contracts of Brent crude oil surged. The price of futures contracts of Brent crude oil for June 2023 delivery on London's ICE surpassed $85 per barrel.
Mutual funds (MFs) lapped up shares of new-age businesses in April at a time when most of these stocks have recovered sharply from their 52-week lows. Nykaa and Zomato featured in the list of top 10 most bought shares by MFs last month, with fund houses' holdings in these two stocks rising by over Rs 1,100 crore, shows a report by Nuvama Alternative & Quantitative Research. Shares of Zomato had staged some recovery in April after remaining subdued for an extended period.
The preventive aspect of cancer is strengthened under comprehensive primary healthcare through the Ayushman Bharat Health and Wellness Centre scheme by the promotion of wellness activities and targeted communication at the community level.
Jasprit Bumrah took 6/61 as India crushed South Africa by seven wickets to level the two-match series 1-1.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
'The focus on easier access and faster delivery is creating a new consumption pattern that allows consumers to satisfy their last-minute cravings and restock essentials at the click of a button.'
With UPA facing allegations of corruption, Prime Minister Manmohan Singh on Saturday said his government wants to use new technology to curb dishonesty and bring transparency in governance.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
Adani Total Gas Ltd, the joint venture of billionaire Gautam Adani's group and French energy giant TotalEnergies, will invest Rs 18,000 crore to Rs 20,000 crore in the next 8 to 10 years to expand infrastructure for retailing CNG to automobiles and piping gas to households and industries, its CFO said. The company retails CNG to automobiles and pipes gas to household kitchens for cooking purposes in 52 licences that cover 124 districts of the country. It has 460 CNG stations in the country and about 7 lakh consumers of its piped cooking gas.
External Affairs Minister S Jaishankar said the passage of the amendment will strengthen India's national security and its global position.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Pandey is a Maharashtra cadre IAS officer of 1984 batch.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
Slowing growth and execution challenges for Cognizant (CTSH) may well allow Infosys to overtake the former after a decade. Cognizant had marched ahead of Infosys in terms of revenue in the first quarter of financial year 2012-13. The Nasdaq-listed IT services firm's performance in Q3 and the guidance for Q4 and full-year 2022 suggest that it could take time for Cognizant to see the expected improvement in performance from its decision to restructure.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
A massive data breach that has implications for national security was unearthed by the Cyberabad Police in Hyderabad, who arrested seven people of a gang allegedly involved in the theft and sale of sensitive data of the government and important organisations, including details of defence personnel as well as the personal and confidential data of about 16.8 crore citizens.
The deadline of March 31 has been postponed till the apex court delivers its final judgment.
the defence ministry told Parliament on Monday that foreign procurement in defence has risen to Rs 50,061 crore (Rs 500.61 billion) in 2021-2022 from Rs 37,030 crore (Rs 370.30 billion) in 2017-2018.
Projections suggest online food delivery market should grow to $22 billion by 2025.
The Bill could be introduced in Lok Sabha very soon.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
India was the sole abstention while all other 14 members of the Council voted in favour of the resolution that decided that processing or payment of funds, other financial assets, economic resources, and provision of goods and services necessary to ensure the timely delivery of humanitarian assistance are permitted and are not a violation of the asset freezes imposed by the Council or its Sanctions Committee.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Tucked away at a lane in Arehalli Guddadahalli, a small village in Bengaluru Rural district is a nondescript factory of LaundryMate, one of India's first organised technology-led online laundry services firms. The company has built the country's largest laundry facility, which is spread across 53,000 square feet - the size of a football field. Inside the hangar-like building, one can hear the whooshing and humming sound of big hi-tech washing machines being operated by the newly-recruited staff of LaundryMate.
The fuel delivery scheme mainly targets consumers that buy in bulk.
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.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
The judgment was reserved after a marathon hearing which went on for 38 days spanning four months.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
The government will "notify such countries or territories outside India to which a data fiduciary may transfer personal data", according to the draft unveiled on Friday for public feedback.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
A key argument against the Aadhaar scheme was that it was violative of the nine-judge bench verdict that had held that Right to Privacy is a fundamental right under the Constitution.
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