IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the fourth quarter ended March 2024. The company posted a profit of Rs 6,128 crore in the same period a year ago, according to a regulatory filing. The consolidated revenue of Infosys during the reported quarter increased by 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.
Tata Communications has seen analyst upgrades after reporting Q3FY24 results. The biggest factor is the visible signs of a turnaround in its new acquisition, Kaleyra. The consolidated revenue grew 16 per cent Q-o-Q to Rs 5,630 crore led by 15 per cent Q-o-Q improvement in the data segment.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
The foreign acquisitions are being looked at to strengthen RIL's core businesses like petrochemicals, polymers and refinery, sources said, adding that the company has found that the economic downturn has created some right-valued acquisition opportunities.
The merger and acquisition (M&As) transactions have picked up pace in the March quarter of 2024 with 455 deals amounting to $25.6 billion deal value announced. This is a 24 per cent rise in deal volume as compared to Q4CY23, according to PwC India report. This signals a shift from the declining trend observed in 2023, as per PwC India's report Deals at a glance.
In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.
'With new projects and recently awarded projects kicking in, capital expenditure should only increase going forward.'
The proposals cleared by the DAC include new-generation anti-tank mines, air defence tactical control radar, heavy-weight torpedoes, medium-range maritime reconnaissance and multi-mission maritime aircraft, flight refueller aircraft and software-defined radios.
Armed with Rs 140 crore (Rs 1.40 billion) cash reserves, Internet company Sify Ltd on Friday said it is looking at acquisitions to grow its business.
Debashis Chatterjee speaks about the overall demand environment and company's strategy
Asked about the possible size of acquisitions, GCPL said,"The company is open to deals which are valued up to Rs 1,000 crore."
Reason for rejection hasn't been stated; deal among seven rejected transactions.
Roger Federer called for a merger between the two governing bodies last month, with both Simon and ATP Tour Chairman Andrea Gaudenzi welcoming the suggestion. But some top WTA players have said they want an equal standing for the women players in a combined body.
"Transfer of advanced systems, where there is an open intention of conversion into nuclear delivery platforms, calls into question the commitment of international suppliers to non-proliferation commitments," Pakistan Foreign Office spokesperson Aisha Farooqui said.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
'The Budget will be positive, continuing on the path of growth taken so far.'
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
In a post on LinkedIn, co-founders Aprameya Radhakrishna and Mayank Bidawatka announced that the platform will be discontinuing its services to the public, as talks for a partnership with multiple larger internet companies, conglomerates and media houses did not yield the desired outcomes.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
The fundamental construct of India's neighbourhood policy still needs to be what Vajpayee postulated, Manmohan Singh embraced, and Modi energised. It's just that we need to junk domestic politics and excessive religiosity, while acquiring much humility and a renewed respectfulness towards our neighbours, recommends Shekhar Gupta.
The April-June quarter (Q1) of the current financial year (FY25) may be soft for banks with loan growth moderation, net interest margin (NIM) pressures, and higher staff and credit costs inching up, according to analysts. Credit growth could ease due to the lagged impact of the Reserve Bank of India (RBI) tightening and deposit growth has weakened, and the current account and savings account (CASA) ratio has declined 10-370 basis points (bps) quarter-on-quarter (Q-o-Q) for many banks.
In a bid to expedite the processing of initial public offerings (IPOs), the markets regulator will now seek additional information from lead managers (LMs) when they file draft documents. Last week, the Securities and Exchange Board of India (Sebi) sent a letter to bankers, listing over two dozens of new disclosure requirements. The average time Sebi takes to clear the draft red herring prospectus (DRHP) - a document companies must file before accessing public funds - has dropped to less than three months in 2024 (until May 31).
It is also planning to introduce some of its acquired overseas brands in India and evaluating a re-entry into air freshners.
Having made two major overseas acquisitions, Tatas owned Videsh Sanchar Nigam Ltd is looking for further acquisitions to add to its services and customers base.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
'AI is not a new thing for us. We started our AI journey in 2015.'
According to the Morcha, the demands which Delhi Chalo has been called include: MSP should be guaranteed as per C2+50 percent formula and, as promised, a law should be made to guarantee it; all the farmers should be made debt free, and all agricultural loan must be waived.
Pharma company Lupin is looking at acquisitions abroad for its expansion plans this fiscal and has raised $100 million for the purpose.
Having taken enough onslaughts from different opposition parties for forcibly acquiring huge chunks of agricultural land for industrial and commercial purposes, Uttar Pradesh Chief Minister Mayawati on Thursday sought to score a point by wooing farmers through a new land acquisition policy, framed after a dialogue with farmers.
The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries.
Food-maker, Nestle, is mulling acquisitions in India with a view to expand its product-line and plans to launch more products in the coming days.
'The overall market cycle is very positive.'
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
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