Investors are increasingly turning optimistic about shares of new-age companies. From broad-based 'sell' calls, analysts are giving thumbs up to Zomato, Paytm, and FSN e-Commerce Ventures-owned Nykaa as these companies have shifted focus to sustainable profits. The shares of Zomato hit a fresh 52-week high of Rs 126 apiece on the BSE on November 7, having rallied 15.4 per cent in one week.
'There was a statement by a minister that 30,000 Kashmiri Pandits have come back to the Kashmir Valley after the abrogation of Article 370, it is all b.......t and a white lie.' 'Nobody has come back.'
UPL, the country's largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline in the European market was on the back of high channel inventory and product bans while in India the fall by 27 per cent was on account of muted demand for segments such as cotton and pulses.
Kamal Nath held the Chhindwara Lok Sabha seat as many as nine times and it continues to remain with the family as his son Nakul Nath is currently an MP from there.
Indian IT industry is all set to achieve its projected revenue target of $100 billion in 2011-12 and is projected to achieve revenues of $225 billion by 2020. This is an ambitious target that will require all the stakeholders in its eco-system to collectively innovate and catalyse growth.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
Target prices around Rs 400 suggest a significant upside.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
Even as cyber threats continue to rise in India - the second-largest global active internet user base - the country is currently facing a big skill gap in the cybersecurity domain and represents just six per cent of global cybersecurity jobs, finds a report. As of May 2023, the industry had about 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. However, the demand-supply gap stood at 30 per cent, projecting a major skill challenge in the industry, finds the study by tech staffing firm TeamLease.
Titan Industries Ltd has launched its international collection of watches in 60 designs in India, which the watch-maker expects would help in garnering an additional 20 per cent of revenues, apart from giving it a foothold in the global markets.
E-commerce player Meesho, backed by marquee investors like SoftBank Group and Meta Platforms, will look at an initial public offering (IPO) only in 2025, and till then, its focus will be on generating profits after tax and not just on being Ebitda (earnings before interest, tax, depreciation and amortisation)-positive, top sources in the company told Business Standard in New Delhi. In a clear shift of strategy, the company, which has reduced its cash burn by 85 per cent, is now looking to trim its annual revenue growth target to 40 per cent from the 100-plus per cent earlier. The sources, however, said even this level of growth was far higher than that of most e-commerce companies.
Maharashtra Governor Ramesh Bais and Chief Minister Eknath Shinde on Sunday paid floral tributes to the martyrs who laid down their lives while fighting terrorists who attacked the metropolis on this day 15 years ago.
The government has utilised 'escape clause' under the FRBM Act which provides it leeway for relaxation of fiscal deficit roadmap during time of stress.
The central government's fiscal deficit touched 67.8 per cent of the full-year target at the end of January due to higher expenses and lower revenue realisations, according to official data released on Tuesday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-January period stood at Rs 11.9 lakh crore, as per the data from the Controller General of Accounts (CGA). The fiscal deficit in the comparable period of 2021-22 was 58.9 per cent of that year's Revised Estimate (RE) in the Budget.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
A large number of women from Malom in Imphal West district blocked the road to the airport in protest against the killing of the policemen in Moreh.
However, economists call the deficit target not feasible, given the current global crude oil prices.
The challenge of achieving fiscal deficit targets for the next two years seems daunting.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
The government had breached its fiscal deficit target given in the Budget for 2017-18 in November itself, touching 112 per cent of the limit.
While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. It was supported by strong growth in gross merchandising value (GMV), higher disbursements and the addition of subscription devices.
Sugar prices are hovering near six-year highs, leaving a bad taste in Indian consumers' palates but sweetening the portfolios of investors in related stocks at Dalal Street. Shares of sugar manufacturers such as Piccadily Agro, DCM Shriram, Magadh Sugar, and Bajaj Hindustan have rallied up to a whopping 200 per cent so far in the financial year 2024 (FY24) as deficient monsoon rains in major sugarcane producer states like Maharashtra and Karnataka are expected to lead to a shortfall in sugar output ahead. In comparison, the BSE Sensex has modestly gained 11 per cent during this period.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
India's first-ever listed new-age company, Zomato, has seen a meteoric rise in its stock price in calendar year 2023 (CY23), rising 70.75 per cent during this period as compared to 9.5 per cent rise in the S&P BSE Sensex. From being the second worst hit new-age stock in CY22, crashing 57 per cent on the National Stock Exchange (NSE), the stock hit the Rs 100-mark for the first time since January 2022 in late August. The stellar run in the stock - only after PB Fintech and One97 Communications-owned Paytm, analysts say, may be coming to an end, at least for now.
Titan Company on November 21, became the second Tata group firm to join Rs 3 trillion market capitalisation (market cap) club after its shares hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade. At 12:28 PM; with a market cap of Rs 301,847 crore (Rs 3.02 trillion) Titan stood at number 16th position in overall market cap ranking on the BSE listed companies, the exchange data shows. Titan overtook paint company Asian Paints, which has a market cap of Rs 300,579 crore, data shows.
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
Invest in quality companies that make profits, advises stock market expert and rediffGURU Samraat Jadhav.
Hewlett-Packard, which is targeting a 10 per cent growth for its $20 billion imaging and printing group division, expects India to clock the highest growth rate in the coming years.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
Noida was conceived in the 1970s and went on to transform the Western UP's landscape for good. Akin to the New Okhla Industrial Development Authority (Noida), the Yogi Adityanath government has instituted the Bundelkhand Industrial Development Authority (BIDA) with its epicentre in Jhansi.
Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
Jaitley's fiscal arithmetic, Crisil said, is "shaky", and the scope for fiscal slippage "remains high".
He, however, acknowledged the need for further efforts from the revenue department.
The government is likely to overshoot its FY14 fiscal deficit estimate by 0.2-0.3 per cent to 4.8- 4.9 per cent as tax revenues have not been up to expectations, DBS said.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
