The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Differences on pricing of channels persisted between south India-based broadcaster Sun Group and DTH operator TataSky, which feels that rates quoted by Sun were fit for international channels but not regional.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Since existing laws do not cover Covid-19, any compensation in this regard has to be left to the discretion of companies.
...followed by financial services, IT, and sales and marketing.
"Twelve years after India's worst terror attack on Mumbai, two Taj hotels -- Colaba and Bandra have received a terror threat from Karachi. "I have had detailed discussions on beefing up security arrangements with both Maharashtra DGP and Mumbai Commissioner of Police," Deshmukh said.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The cables dovetail into VSNL's plans to build a global submarine cable system connecting India. \n\n
Voltas, a Tata Group company, is recruiting sales executives.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
HR Guru Mayank Rautela offers practical advice.
Life insurance companies reported a 17 per cent year-on-year (YoY) drop in new business premium (NBP) in February as state-owned Life Insurance Corporation of India's premiums contracted 32 per cent during this period on account of a drop in its group single premium segment. According to data released by the Life Insurance Council, the industry earned an NBP of Rs 22,847.65 crore in February - a drop of 17 per cent from the same period a year ago.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Seeking to leverage each other's brand strength, watch manufacturer Titan on Thursday joined hands with leading designer Rohit Bal to come out with a range of luxury watch collection targeting the top segment.
Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
Companies are ranked by total revenues.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
'Kindly advise about the following stocks. Can I hold or exit?'
The list of corporations publishing biographies has lengthened steadily as companies have realised the effectiveness of story telling as a brand building tool. Kanika Datta investigates the rising trend.
Unlike many other B-schools, IIM Ahmedabad follows a cluster system of final placements process where sectors are invited in cohorts at regular intervals.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
The fight for Mumbai's green lung continues through the Ganesh Utsav festival.
The compact sedan Zest competes with the established brands like Maruti D'zire, Honda Amaze and Hyundai Xcent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
The Indian troops guarding the nearly 3,500-km Line of Actual Control (LAC) maintained an assertive approach in sync with the broader national security doctrine and procured a variety of military platforms and weapons to enhance their combat capabilities.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
A battle royale, fought over 15 long years, comes to an end as a prince and a princess -- grandchildren of the legendary Rajmata Gayatri Devi -- get back the Jai Mahal Palace Hotel from their step-uncles.
IIM Lucknow has concluded its 2020-21 final placements.
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