Cement companies witnessed speculative support from investors through FY23 amid hopes of a rebound. After capex announcements in the FY24 Budget, there was further interest due to expectations that government expenditure would boost earnings, besides a generic macro-recovery. Cement earnings were under pressure in FY22 and FY23 due to high raw material and fuel costs; muted demand prevented them passing on the higher cost.
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
Marnus Labuschagne was bowled off an inside edge but Ravindra Jadeja had overstepped, before India erred by not opting for a DRS against the Australian right-hander.
'Because of global warming, the chances of heatwaves like this are much higher.'
With raw material prices rising sequentially in Q4 FY23, margins of fast moving electrical goods (FMEG) companies could witness pressure as they refrain from hiking prices and demand remains soft. Transition to a new regulatory regime-fans moved to new BEE standards from January 1-poses additional risk for firms. Business depends on volume trends in summer for key sub-segments, which account for a significant chunk of the sector's overall sales pie.
The 2023 Budget set off a downtrend in the listed life insurance company stocks. The key reason was a proposal to tax income from insurance policies (other than unit-linked insurance plans or ULIPs) with a premium, or aggregate premium, of above Rs 500,000 per annum. This impacted the traditional savings profile since it affected the returns for these products.
Benchmark BSE Sensex and Nifty snapped their two-day losing streak to close nearly half a per cent higher on Tuesday following gains in banking, metal and auto stocks. The 30-share BSE Sensex climbed 257.43 points or 0.44 per cent to settle at 59,031.30. During the day, it hit a high of 59,199.11 and a low of 58,172.48.
IMAGES from Day 3 of the 3rd Test played between India and Australia in Indore on Friday.
The day-night pink ball Test finished inside three days as India beat Sri Lanka by 238 runs to win the two-Test series 2-0.
India suffered a top order meltdown chasing a small victory target of 145
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
The regulator said if the variable pay is up to 200 per cent of the fixed pay, at least 50 per cent of it should be in non-cash, and if the variable pay is above 200 per cent, 67 per cent of it should be paid via non-cash instruments.
UltraTech Cement's results for the fourth quarter results of the 2022-23 financial year (Q4FY23) were broadly in line with the Street estimates. The consolidated revenue, operating profit and net profit stood at Rs 18,700 crore, Rs 3,300 crore and Rs 1,670 crore, respectively, which were up 18 per cent, 8 per cent and 13 per cent YoY, respectively.
'We had hoped that however behind we were, we could've shown more fight but we knew we needed exceptional performances. It was not a 469-run wicket. We gave away a lot of runs -- bowling was disappointing. We played some poor shots yesterday.'
IMAGES from Day 4 of the WTC Final played between Australia and India at The Oval in London on Saturday.
India added over 1,300 active tech start-ups to its ecosystem in calendar year 2022, taking the total tally to between 25,000-27,000, according to a recent report. The country continues to be the world's third largest tech start-up ecosystem. The Nasscom-Zinnov Indian Tech Start-up Landscape Report 2022 found that India added the second highest number of Unicorns - companies with a valuation of at least $1 billion - in the world, with over 23 added in CY2022.
'...you start running after the star.' 'If the star says yes to the film, the ecosystem supports it.' 'The biggest cog in the wheel of the ecosystem is the audience and we forget that.'
Quick commerce startups hope to race towards better days. Can they crack the execution code?
Krunal Pandya's superb all-round showing helped Lucknow Super Giants notch a comprehensive five-wicket win over Sunrisers Hyderabad.
With a new chief executive officer (CEO) at the helm, the country's largest two-wheeler maker Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation 'agile and future-ready'. Recently, the company's erstwhile chief financial officer (CFO) Niranjan Gupta was elevated as CEO.
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.
IMAGES from Day 2 of the WTC Final played between Australia and India at The Oval in London on Thursday.
French scientists have revived a 48,500-year-old zombie virus buried under a frozen lake in Russia until now!
'What we ended up achieving as a team and the cultural change, for me that is always going to be a matter of pride because tournaments happen for a certain period of time but a culture happens over a long period of time, and for that you need consistency, for that you need more character than just winning a tournament.'
The government's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, points out T N Ninan.
Syukuro Manabe, Klaus Hasselmann and Giorgio Parisi won the 2021 Nobel Prize for Physics, "for groundbreaking contributions to our understanding of complex physical systems," announced the award-giving organisation on Tuesday.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
An exhausted Andy Murray still had enough left in the tank to blast tennis officials after an epic five-set comeback second round win at the Australian Open finished after 4am local time on Friday.
England, who are gunning for their second World Cup title, have the most valuable squad in Qatar with Jude Bellingham topping a list of over 800 players.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
India has been consistently objecting to the methodology adopted by the WHO to project excess mortality estimates based on mathematical models, the Union Health Ministry said in a statement.
About 300 employees would come under the ambit of voluntary decision.
Heatwaves claimed more than 17,000 lives in 50 years in India, according to a paper authored by M Rajeevan, former secretary of Ministry of Earth Sciences, along with scientists Kamaljit Ray, S S Ray, R K Giri and A P Dimri.
Ashwin became India's second highest wicket-taker in Test matches after he surpassed legendary Kapil Dev's tally of 434 wickets.
That's why he is now finally focusing on the two things that alone can help: Fiscal expansion -- from December onwards -- and supply management via amended laws and rules that affect business, notes T C A Srinivasa-Raghavan
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
'It is one thing to plan, but to base that plan on a flawed premise is an exercise in futility.' Former captain Greg Chappell questioned the Australian team's selection and planning for the four-match Test series, two of which the visitors lost inside two days.
Shubman Gill is pegged as the next big thing in Indian cricket having quickly risen to top in all formats. But how does the youngster handle the immense pressure?
