The earnings season has got off to a subdued start, with virtually every heavyweight disappointing the Street. Net profits of a sample of 164 companies (including banks and financials) were up 7% year-on-year on the back of an 8% rise in revenues. But net profits would have fallen but for a 23% jump in other
CPP Investments (CPPIB), Canada’s largest pension fund manager, has dropped its plans to sell stake in IndoSpace Core, its equal joint venture with IndoSpace, a developer of logistics parks promoted by Southeast Asia-focused Everstone Capital and US-based Realterm, people in the know said. CPPIB did not get the desired valuation from bidders, sources said. “Also
Not just kiranas, but quick commerce is beginning to hurt organised grocery retailers in urban centres as consumers seek instant gratification and convenience. While DMart, a popular grocery chain, admitted last week that online formats were hurting sales in metro stores, NielsenIQ data sourced from the industry corroborates this trend. Sales volume growth in modern
As the government looks to set up 500 gigawatt (GW) of green capacity by 2030, a key challenge is to ensure its seamless access to the Grid. This is because RE by nature is intermittent, which undermines its optimal use unless stored efficiently. Private companies such as ReNew, JSW Energy, Avaada Energy, Serentica Renewables, Gensol
India’s renewable energy RE) ambitions could increase the country’s annual solar import bill to $ 30 billion from $ 7 billion currently with most of it coming from China and as the entire world faces the same issue in its efforts to decarbonise key countries need to unite to global scale solar manufacturing facilities, according
By Dr Mohit Tantia Rajasthan has emerged as a prime destination for solar energy investment, not just in India, but globally. With an impressive installed capacity of 22,860 MW, the state now ranks first in the country in solar energy production. As India pushes toward its ambitious goal of achieving 500 GW of non-fossil fuel
India has proposed to the United States to convert their memorandum of understanding in critical minerals into a critical minerals agreement (CMA) that will give the benefits of a free trade agreement to the trade of electric vehicles. “I have suggested that our critical minerals MoU should be converted to critical minerals partnership agreement and
Kotak Mahindra Bank’s standalone profit rose 5% to Rs 3,344 crore in the second quarter of current fiscal from Rs 3,191 crore in the same quarter previous year, helped by healthy growth in net interest income and improvement in asset quality. The net profit was below expectations as Bloomberg analysts expected the lender to post
Reliance Consumer Products (RCPL), the fast-moving consumer goods arm of Reliance Industries, launched Raskik Gluco Energy on Monday, stepping into the hydration category. The foray will see RCPL take on players such as Tata Consumer Products, which has Tata Gluco Plus, and Dabur, which recently launched Dabur GlucoPlus-C priced at Rs 10 for a 160-ml
The SKA Group has launched its ultra-luxury housing project SKA Divine in Wave City, Ghaziabad. The group intends to invest Rs 150 crore in this project and anticipates generating Rs 900 crore in revenue. Located along the Delhi-Meerut Expressway, the development spans approx. 5 acres, featuring 536 premium apartments across 27 floors in 3 towers
Titan’s standalone business registered a 24% year-on-year growth, the Tata Group company reported on Monday while providing an update for the December 2024 quarter. The company’s jewellery business, in particular, grew 26% year-on-year, driven by strong festive demand. Robust consumer traction during Diwali resulted in high single-digit buyer growth, along with double-digit growth in ticket
Benchmark equity indices recorded their biggest single-day loss in three months on Monday, as a barrage of bad news hits investor sentiment. Concerns over the human metapneumovirus (HMPV), disappointing Q3 business updates from banks and uncertainties surrounding new US economic policies were the key headwinds. At the same time, the fall in ITC stock due
The markets extended loss and ended in the red for the second straight session. The Sensex fell 1,258 points, or 1.6%, closing the day at 77,965, while the Nifty declined 382.95 points, or 1.6%, ending at 23,621.80. ITC is among the top index losers followed by metals, power and select banks. However, some stocks saw significant
