Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
Microsoft also took a charge of $940 million related to job cuts announced this month and last year.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
Net losses of Rs 6,528 crore is entire due to deliberate decision by company to reduce value of its European assets.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
India Inc reported an uptick in revenue growth in the January-March quarter (Q4) of 2023-24 (FY24), but it came at the cost of a deceleration in earnings growth.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
On a five-day rolling basis, FPI selling is the highest in 24 years.
Images from Sunday's action in the English Premier League.
Roundup of the matches being held across major football leagues in Europe
Indian men's hockey team set for first real test against Belgium
At this point it is still anyone's game, with a draw also an option, says Prem Panicker in his analysis of Day 4.
India gave a spirited fight but lost to Thailand 2-3 in a high-octane clash of the AFC U-17 Asian Cup 2025 Qualifiers in Chonburi on Sunday.
Australia's capitulation in Perth triggered damning assessments of the team's performance in home media.
Manchester United languish 14th in the standings on 19 points, their worst placing to end a calendar year since they were 15th in 1989.
Laura Siegemund and Edouard Roger-Vasselin beat Desirae Krawczyk and Neal Skupski 6-4 7-5 to win their maiden mixed doubles title together at the French Open
Robert Lewandowski and substitute Pablo Torre each scored twice to help leaders Barcelona thrash visitors Sevilla 5-1 in LaLiga on Sunday in a confidence boost for Hansi Flick's side ahead of key clashes against Bayern Munich and Real Madrid.
IMAGES from the English Premier League matches played on Wednesday.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
West Indies will need their all-round firepower against a rampaging South Africa in their must-win final Super Eight clash.
Aaron Finch stressed the need to be ultra-positive and ultra-aggressive
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
Maharashtra secured a resounding 439-run victory over Baroda in a Group A Ranji Trophy match, keeping defending champions Mumbai's hopes alive for the knockout stage.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
Barcelona striker Robert Lewandowski scored twice to set his side on course for a 5-0 Champions League thrashing of Swiss side Young Boys on Tuesday as the Catalan giants bounced back from a 2-1 loss at AS Monaco in their opener.
Jindal Iron & Steel Company Ltd has posted a net profit of Rs 298.60 million for the quarter ended December 31, 2002 as compared to a net loss of Rs 153.40 million in the corresponding period last fiscal.
India will look for the right balance as they aim for a series-levelling victory against a spunky New Zealand in the must-win second Test.
Currency depreciation also hits earnings of all domestic carriers
Firm makes Rs 4,858-crore loss on Rs 10,799-crore income.
People in full-time jobs should especially avoid intraday trading as it results in loss of focus and affects performance.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
'The economy is clearly at a very soft spot, and earnings growth is disappointing every day.' 'After three great years, the Indian economy has hit a rough patch.'
ITI Ltd has posted a net loss of Rs 456.00 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 25.00 million in the quarter ended December 31, 2001.
Burdened by high fuel and labour costs, cash-strapped Air India suffered a net loss of Rs 5,548 crore (Rs 55.48 billion) in 2008-09, as its total revenue declined by around Rs 2,000 crore (Rs 20 billion) compared to the previous fiscal.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
Debt-ridden Kingfisher Airlines reported net loss of Rs 754 crore for the July-September quarter, a sharp increase from Rs 469 crore in the year-ago period.
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