Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.
Paris mayor Anne Hidalgo and locally elected representatives, as well as region president Valerie Pecresse and sports minister Amelie Oudea-Castera, attended the inauguration.
The incident took place on Tuesday when Dharamvir Jatav, who hailed from Kalanjari village of Meerut district, beheaded his 50-year-old wife Sundri with a sword, they said.
A look at the best bowling performances from the Royal Challengers Bengaluru vs Punjab Kings match in Bengaluru.
Former Spanish tennis star Arantxa Sanchez Vicario has been given a suspended jail term for fraud, a court in Barcelona said on Wednesday.
Najmul Hossain Shanto produced a captain's hundred and forged two significant partnerships to put Bangladesh in a commanding position in the opening Test against New Zealand in Sylhet on Thursday.
The Bharti Kisan Union (Ekta Ugrahan) will on Saturday hold dharnas outside the residences of three senior Bharatiya Janata Party leaders in Punjab on the fifth day of the farmers' protest over their various demands, including a legal guarantee for a minimum support price (MSP).
Shares of paint companies faced pressure, falling up to 5 per cent on the BSE in Monday's (February 26) intraday trade amid concerns that Grasim Industries' entry into the paint sector will intensify the competition. Asian Paints reached a 10-month low of Rs 2,850, slipping nearly 5 per cent after brokerage firm CLSA downgraded the stock following the Birla Opus launch. The paint maker's stock traded at its lowest level since April 28, 2023.
If Nandigama, Andhra Pradesh, erected a 77-feet cutout, can Hyderabad be far behind?
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
'You have to have a plan and use every delivery wisely. I was very happy to execute it today and happy to contribute on that pitch.'
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
India's industrial production growth decelerated to 5.8 per cent in September from 10.3 per cent in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022. During April-September 2023-24, the IIP growth works out to be 6 per cent, down from 7.1 per cent in the corresponding period a year ago.
The official said multiple samples were sent for genome sequencing, and one of them tested positive for the JN.1 variant.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
Airline stocks have been soaring following a steep decline in crude oil prices and sustained passenger traffic. Analysts have particularly turned bullish on the stocks of InterGlobe Aviation and SpiceJet. On December 20, shares of InterGlobe Aviation (IndiGo) hit a record high of Rs 3,009 on the BSE, having surged 43.24 per cent year-to-date (YTD).
The Israel Defence Forces on Saturday declared a state of readiness for war following a massive barrage of rockets from the Gaza Strip and infiltration of Hamas terrorists into Israel, The Times of Israel (TOI) reported.
IMAGES from Day 1 of the 4th Test played between India and England in Ranchi on Friday.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
A belligerent century from India all-rounder Shivam Dube brought Mumbai back into the contest against Uttar Pradesh.
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
India's gross tax revenue, comprising both direct and indirect taxes between April and July, reported a growth rate of merely 2.8 per cent to Rs 8.9 trillion compared to the same period a year ago, as shown by government data on Thursday. This growth was dampened by direct tax figures, offsetting the healthy growth in goods and services tax collections and Customs duties. While net tax revenue contracted by 12.6 per cent to Rs 5.8 trillion up to July, accounting for 25 per cent of the Rs 23.3 trillion full-year target, this could be attributed to the increased tax devolution to states during the period.
Chairing a meeting to review the security situation in LWE-affected states, Shah said the Modi government has adopted a policy of zero tolerance against left wing extremism since 2014.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
In Rajasthan, 13 deaths related to rain and storm were reported over the last two days while at least 12 people were killed due to lightning strikes in Jharkhand during the same period, officials said.
A dominant Sri Lanka thrashed Oman by 10 wickets in the ICC Cricket World Cup 2023 Qualifier to climb to the top of Group B at the Queens Sports Club, in Bulawayo on Friday.
The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
Cyclone 'Biparjoy' has an extensive damaging potential and it is likely to impact Kutch, Devbhoomi Dwarka and Jamnagar districts of Gujarat the most, the India meteorological department said on Tuesday.
Pinal Patel and his family arrived home from work when they were confronted by three masked individuals with guns, the Bibb County Sheriff's Office said in a statement on Monday.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
"While you were squeezing the life out of your wife, your children can be heard crying in the background for their mummy. It is clear that they heard what was going on and knew that she was being hurt by you," the judge noted in his sentencing remarks.
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.
At the start of the year, not many would have imagined Yashasvi Jaiswal rising up the ranks so rapidly.
Senior pros Rohit Sharma and Virat Kohli haven't played too many ODIs in the last couple of years, while young Shubman Gill is still finding his feet at the top level.
It was a mixed day for India in the All England Championship as Treesa Jolly and Gayatri Gopichanda clinched a stunning win, while Lakshya Sen crashed out.
