Aditya Birla Group’s UltraTech Cement on Monday missed Street estimates on all the key fronts during the July-September quarter, primarily because of slowdown in demand due to monsoon and project delays which hit price realisations. The company’s net profit fell 36% year on year to Rs 820 crore, while revenue from operations was down 2.4%
A division bench of the the Delhi High Court on Monday deferred hearing an appeal filed by MB Finmart, a Burman Family entity, opposing the Registrar of Companies’ (RoC) three-month extension for Religare Enterprises’ annual general meeting (AGM) for 2023-24, citing an absence of the RoC’s reply. The court has set the next hearing on
Zomato Q2 Results 2024: As Zomato gears up for its Q2 FY25 financial results, here’s everything you need to know about the date, time, and how to tune in for the live earnings call. Date of Zomato Q2FY25 Results Mark your calendars! The Board of Directors of Zomato will convene tomorrow, October 22, 2024, to
Go to Live UpdatesQ2 Earnings 2024 Live Updates: The Q2 earnings season has started and is in full swing. Market participants will watch out for the Q2 performance of the likes of Bajaj Housing Finance, City Union Bank, Union Bank of India, Gravtia India, Cyient DLM, and Mahindra Logistics among others. The earnings so far
83% of Indian businesses view technology advancements and the consequent rise is concerns around data privacy, security vulnerabilities, and regulatory compliance as major risk factors, according to Horizon Watch Emerging Risk Report 2024. The report, published by Tata AIG General Insurance and Dun & Bradstreet India, was conducted among 300 business leaders across 25 sectors
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
Tata AutoComp Systems (TACO) has acquired an 80% majority stake in Artifex Interior Systems, previously known as IAC UK. The stake was purchased from Jaguar Land Rover Ventures, a subsidiary of Jaguar Land Rover Automotive plc and part of Tata Motors. This marks TACO’s second acquisition in Europe. ALSO READEmotorad unaffected by US tariffs With
EMotorad, an e-bike manufacturer, is set to increase the export of its electric bicycles to the United States. The current 25% tariff on automobiles does not apply to this segment. “EMotorad, or its manufacturing arm Dynem, falls under a different HSN code that applies to electronics, cycles, and scooters rather than traditional automotive categories. Therefore
Billionaire conglomerates Gautam Adani’s Adani Group and Kumar Mangalam Birla’s Aditya Birla Group are set for another rivalry—this time in the high-growth wires and cables industry. After fierce competition in the cement sector, both groups have now announced their entry into this largely unorganised market, signaling a major shift in the industry landscape. Market disruption?
The Centre’s dividend receipts from public sector enterprises (CPSEs) have exceeded the budget target (revised estimate) of Rs 55,000 crore by 34% to reach nearly Rs 75,000 crore in 2024-25, setting a new record. The dividend receipts from CPSEs – an important source of non-tax revenues- in FY25 is 16% more than the previous high
Foreign investors have infused nearly Rs 31,000 crore in the Indian equity markets in the last six trading sessions of the month primarily due to attractive valuations, appreciation in the rupee and improvement in macroeconomic indicators. The re-emergence of Foreign Portfolio Investors (FPIs) as buyers contributed to a smart recovery of about 6 per cent
