Page 8 - Indian Market

Very bullish on India, says Apple CEO; describes country as a major focus

Apple CEO Tim Cook has said he is very bullish on India and described the country as a major focus and "hugely exciting market where the technology giant is putting a significant amount of energy through investments, retail and online presence. Apple on Thursday reported revenue of USD 117.2 billion for the December quarter and set all-time revenue records in a number of markets, including Canada, Indonesia, Mexico, Spain, Turkey and Vietnam, along with quarterly records in Brazil and India. The USD 117.2 billion revenue was down 5 per cent year-over-year, from nearly USD 124 billion in December 2021 as a result of a challenging environment. We actually did fairly well through COVID in India. And I'm even more bullish now on the other side of it, or hopefully, on the other side of it. And that's the reason why we're investing there. We're bringing retail there and bringing the online store there and putting a significant amount of energy there. I'm very bullish on India, Cook said a

Karnataka's coffee planters disappointed with Budget over tax issue

Coffee planters in Karnataka are unhappy with the Budget as the Central government has not fulfilled their demand of complete exemption from tax on sales of coffee in different forms

Ford Motor Co posts lower profit, issues downbeat outlook; shares drop

Ford Motor Co said quarterly profits fell and automaker predicted a difficult year ahead, sending its shares down after bell as investors were disappointed

Godrej Properties profit rises 51% to Rs 58.74 crore in December qtr

Realty firm Godrej Properties Ltd on Thursday reported a 51 per cent increase in its consolidated net profit to Rs 58.74 crore for the third quarter ended December 2022. Its net profit stood at Rs 39.02 crore in the year-ago period. The total income declined to Rs 404.58 crore in the third quarter of this fiscal from Rs 466.91 crore in the corresponding period of the previous year, according to a regulatory filing. Godrej Properties has posted a net profit of Rs 159.25 crore during the April-December period of this fiscal from Rs 91.90 crore in the year-ago period. Its total income rose to Rs 1,200.18 crore in the first nine months of this fiscal from Rs 1,063.12 crore a year ago. Godrej Properties is one of the leading real estate developers in the country. It is developing projects mainly in the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Pune. Godrej Properties is a part of the business conglomerate Godrej Group.

Ashok Leyand shares climb 5% after firm reports jump in Q3 profits

Shares of Ashok Leyand on Thursday climbed 5 per cent after the firm reported a multi-fold jump in its profit after tax for the third quarter ended December. The stock climbed 5 per cent to Rs 155.10 on the BSE. At the NSE, it advanced 4.94 per cent to Rs 155. In a volatile trade, the 30-share BSE benchmark traded 48.36 points higher at 59,756.44. Hinduja group flagship Ashok Leyand on Wednesday reported a multi-fold jump in its profit after tax at Rs 361 crore for the third quarter ended December, aided by robust sales. The company had posted a profit after tax of Rs 6 crore in the October-December quarter of previous fiscal. Revenues for the quarter stood at Rs 9,030 crore over Rs 5,535 crore in the year-ago period, the company said in a statement. Ashok Leyland said its domestic Medium and Heavy Commercial Vehicle volume rose to 28,221 units, up 69 per cent, over the same period last year. The company's domestic LCV volumes for the third quarter rose to 16,405 units, up 15 p

Kamdhenu Ventures to list on stock exchanges this month: Group CMD

Kamdhenu Ventures, the paints business of Kamdhenu Group, will be listed on the stock exchanges BSE and NSE later this month. The paints division was separated from the steel business of the group last year for better management focus and operational flexibility, its CMD Satish Agarwal said, citing reasons for the demerger. There are plans to raise Rs 200 crore through multiple routes and expand the paints business post listing, the CMD said. The group also aims to garner a revenue of Rs 1,000 crore from the paints segment over the next five years, he said. "Kamdhenu Ventures has also issued 2,69,35,500 shares of Rs 5 each in the ratio of 1:1 towards the consideration for demerger to the shareholders of Kamdhenu Ltd having shares on 7th September 2022 being the record date," Group CFO Harish Agarwal said. The new venture had received the in-principle approval for listing from the BSE and NSE in November 2022, the CFO said. Kamdhenu has its paint manufacturing plant at Chopanki in

FPIs sold for 11 consecutive days; cumulative selling at Rs 14,300 crore

FPIs have turned sustained sellers in the Indian market and sold for 11 consecutive days taking cumulative selling to Rs 14,300 crore, says V.K. Vijayakumar

India's FY24 growth to dip to 5.5% from 6.8% in FY23, says HSBC economist

India's economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said

MF growth slows down in 2022 after sprinting three years on the trot

Among the top-20, PPFAS and Canara Robeco grew the fastest last year

200-DMA of BSE 500 companies rises but gains may not be broad-based

97% of companies were above mark when indices hit all-time high in Oct '21, against just over 55% presently

Street signs: Trading hour extension, markets down the chimney, and more

The last week of this month is usually a good time for markets as it usually gains in the last five trading days of December and the first two trading days of the New Year

Neon Attack is here to brighten up your business with their exquisite range of neon signs!

.

Irdai advises firms about minimum rate rule for reinsurance treaties

Regulator's instruction is about burning or break-even cost calculated to estimate the expected losses for a policy

Rupee, bonds take a sharp knock as Fed maintains aggressive stance

The domestic currency has depreciated over 10% against the greenback so far this year

Cloud more important in hybrid work; doubled capacity in 20 mths: Peesker

Satya (Nadella) pays special attention to the work that we're doing here…. When it comes to investing, India is top of mind, says Microsoft's Kevin Peesker

Sebi may soon introduce framework on ESG rating providers, say sources

Standardisation woes slow ESG reform push; industry for uniform assessment criteria

Cash turnover up 17% in Nov: In buoyant mkt, trading volume sees recovery

The ADTV for the futures and options segment (both NSE and BSE combined) stood at Rs 147.5 trillion - a gain of 2 per cent MoM

Over Rs 5,000-cr IPOs may hit mkts in Dec as investor sentiment perks up

Primary market momentum seen sustaining in an otherwise 'lacklustre' month

Archean Chemical gains 12% on debut, shares worth Rs 1,014 cr traded

The stock hit a high of Rs 476 and a low of Rs 440.2 on NSE; firm's IPO was subscribed 32 times

Sebi's tougher disclosure regime may be a challenge for India Inc

Compliance burden could go up manifold if new proposals get implemented, say legal experts