Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL's revenue and profit. A muted showing by RIL in the first quarter of 2023-24 may weigh on the overall corporate earnings, as well as the equity markets.
Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment. Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth of 19 per cent. The company highlighted that new buyer growth was at 15 per cent while average ticket size was up 8 per cent.
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
Demand for fast-moving consumer goods (FMCGs) went up last month across India, as kirana stores stocked up their shelves in anticipation of a sizzling summer, according to data by retail intelligence firm Bizom. There was a spike in beverages sales across the country despite inflation inching up in February after moderating downward previously, Bizom noted.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
A deal for United is expected to shatter records for the sale of a sports business. The club's current majority owners, the Glazer family, are seeking a valuation as high as 7 billion pounds ($8.42 billion).
From new and competitively-priced iPhones to slashing prices of its older models, it had a multi-pronged strategy.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
Driven by strong demand, the overall passenger vehicle dispatches crossed 3.35 lakh units in February as automakers, including Maruti Suzuki India, Hyundai, Tata Motors and Mahindra & Mahindra, reported robust sales during the month. The dispatches of more than 3.35 lakh units last month marked an 11 per cent over February 2022. It was also the highest ever overall wholesales in the month of February. The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 155,114 units in February as compared with 140,035 units in the same month last year.
NBA great Michael Jordan's autographed game-worn sneakers from his rookie season fetched a record $560,000 (463,380 pounds) in an online auction, Sotheby's said on Sunday. The Air Jordan 1s, designed for Jordan in 1985 and the first ever signature sneakers, were expected to sell for between $100,000 and $150,000 in the auction.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
Hyundai Motor India recorded an impressive 121 per cent growth in sales in April this year at 19,853 units.
The growth in personal loans for fintech major Paytm may remain muted in the future and not replicate a three-digit year-on-year (Y-o-Y) growth that it recorded in the previous years, a person familiar with the matter said. Sources said the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base. On a quarter-on-quarter (Q-o-Q) basis, the number of personal loans the Noida-based fintech company disbursed has dropped 20 per cent from 0.3 million in the first quarter of this financial year (Q1FY24) to 0.24 million in Q2FY24, according to regulatory filings.
Sales of commercial vehicles rose 5.30 per cent to 52,481 units in January this year, SIAM said.
If the sales go through, they said in e-mails sent to the Senators, the sophisticated weapons might find their way into the hands of Taliban, Iraqi insurgents, Iranians and North Koreans.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
The Indian FMCG industry has recorded a 9.4 per cent growth in the January-March quarter of 2021, helped by a consumption-led growth and value growth by increased prices of products, especially of staples, said data analytics firm Nielsen. The rural market continued to perform with strong growth of 14.6 per cent during the period and the metro markets have registered a positive growth after two quarters. Fast Moving Consumer Goods (FMCG) industry sales growth from the traditional trade channels jumped to double digits, while growth in e-commerce normalised down to single digits in the January-March quarter.
Car maker Maruti Udyog Ltd on Tuesday reported a 11.10 per cent increase in domestic sales at 55,894 vehicles during October 2006 as compared to 50,308 vehicles in the year-ago period.
Smart devices maker Samsung continued to lead the smartphone market in the country for the fourth consecutive quarter in July-September with a 17.2 per cent market share, market research firm Counterpoint said on Wednesday. Shipments of iPhone maker Apple crossed 2.5 million units in the reported quarter thereby registering an all-time high in a quarter, according to the Counterpoint's Monthly India Smartphone Tracker report. "Samsung maintained its leading position for the fourth consecutive quarter with a 17.2 per cent share driven by the success of its A and M series.
There was no sale of premium sedan Kizashi during the month.
The company had sold 85,565 units in the same month last year.
This was only four days after many aggrieved buyers chose social networking sites to attack Flipkart's 'Big Billion Day' discount this Monday (October 6), followed by an apology from the company's co-founders, Sachin and Binny Bansal.
India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold.
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
Thi is the best-ever monthly sales achieved in passenger cars, motorcycles and total two-wheelers segments.
The US Federal Reserve's interest rate decision, quarterly earnings of corporates and domestic macroeconomic data will influence trading in the equity market in a holiday-shortened week ahead, analysts said. Foreign funds' trading activity, monthly automobile sales data and global trends would also guide market movement this week, they added. Markets would remain closed on Monday on account of 'Maharashtra Day'.
Encouraging results for the fourth quarter of the 2022-23 financial year (Q4FY23) have led to a big surge in the share price of DLF. The realty major closed FY23 with Rs 15,000 crore (up 107 per cent year-on-year or YoY) of pre-sales, leading to cash generation of Rs 2,500 crore (up 14 per cent YoY) and reduced net debt by Rs 1,960 crore YoY. The launch of The Arbour project in Q4FY23 alone drove sales of Rs 8,000 crore in the quarter.
Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a decline in sales as well as launches, while only two cities, Mumbai and Gurugram, saw a rise in demand and supply.
Worldwide mobile phone sales totaled 205.4 million units in the third quarter of 2005, a 22 per cent increase from the same period last year, according to Gartner, Inc.
Understated earlier, JLR is spending on its brand recall to prepare for the Baby Jag that will target volumes.
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
The Centre on Monday directed cooperatives NCCF and NAFED to sell tomatoes at a reduced rate of Rs 50 per kilogram from Tuesday in view of the decline in prices in the wholesale markets. Since July, both NCCF and NAFED have been selling tomatoes at a discounted rate on behalf of the consumer affairs ministry in Delhi-NCR, Uttar Pradesh, Rajasthan and Bihar to boost domestic availability and contain price rise. Initially, the ministry had asked the two cooperatives to sell tomatoes at a subsidised rate of Rs 90 per kg and later reduced the price to Rs 80 per kg. Further, the price was cut to Rs 70 per kg.
Maruti's results and the investor response indicate that quite a few stocks in the auto sector could be on the verge of a big bounce, says Devangshu Datta.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
After recording a fall in sales for two consecutive months, the car segment surprised experts with a marginal gain of 2.83 per cent by selling 108,823 units in a relatively slack month of September, which is when buyers generally postpone their purchase to the festive period.
The domestic equity market, which is on a record-breaking spree, will focus on macroeconomic data announcements, movement in global stocks and the US Fed minutes to get further direction, analysts said. Trading activity of Foreign Institutional Investors (FIIs) will also innfluence investors.From the domestic macroeconomic front, Purchasing Managers' Index (PMI) data for the manufacturing sector will be released on Monday, and that o,f the services sector on Wednesday. Investors, this week, will keenly watch major global market events, icluding the outcome of the Federal Open Market Committee (FOMC) minutes, scheduled to be out on Wednesday.
In China, premiums fell to about $1.50 an ounce on Friday from $2-$3 an ounce.
