India's Amara Raja Q2 profit climbs as demand offsets higher costs
India's Amara Raja Energy & Mobility (AMAR.NS) on Tuesday reported a jump in second-quarter profit, as improved demand for its products helped offset higher expenses. Key Points
ReutersIndia's Nifty, Sensex hit new record highs as strong US data lifts mood
Indian shares opened higher on Friday, with the benchmarks scaling new all-time highs on improved sentiment following robust economic data from the U.S., which eased fears of a slowdown. Key Points
ReutersSpiceJet to revive 25 grounded planes
Amid Go First troubles, budget carrier SpiceJet has rolled out its strategy to resurrect 25 of its out-of-service planes. The revival expenses will be funded through the Emergency Credit Line Guarantee Scheme (ECLGS) provided by the government and improved cash inflow. Key Points
The Tribune IndiaZoho Corporation launches Zakya for POS solutions
India Business News: Zoho Corporation has launched Zakya, a modern POS solution for retail stores. The cloud-based POS solution helps small and medium-sized retailers streamline their day-to-day operations with improved inventory management, omnichannel sales, and customer experience. Key Points
Times Of IndiaHow much positivity in IT stocks is already priced in? Apurva Prasad answers
Apurva Prasad says s that the IT pack has experienced a positive movement in the last two months. However, he believes that a significant portion of the improved outlook is already priced into the market, with PE multiples increasing by 20-25%. Prasad emphasizes the importance of operational performance and highlights that many companies, including larger ones, have the potential for margin improvement. Key Points
Economic Times
Tata Motors reports Q4 net profit of ₹5,408 crore
Tata Motors Ltd. reported fourth-quarter consolidated net profit of ₹5,408 crore compared with a net loss of ₹1,033 crore in the year-earlier period owing to robust performance. Key Points
The HinduConsumer confidence remains on recovery path: RBI survey
The current situation index rose by 2.2 points to 87 from 84.8 on account of improved perception on general economic situation, employment, and household income. Key Points
FinancialexpressMFI loan collections improve in October-December qtr
Portfolio at risk for 30 days past due bucket improved to 3.8% as on December 31 from 9.2% a year ago. Key Points
FinancialexpressIndia's PNB Housing Finance posts 46% surge in Q2 profit on strong loan demand
India's PNB Housing Finance (PNBH.NS) reported a 45.8% rise in the second-quarter profit on Monday, aided by healthy demand for home loans and improved asset quality. Key Points
ReutersVenus beats top-20 player for 1st time in four years, advances in Cincinnati
The 43-year-old Williams, a seven-time Grand Slam champion, improved her match record this year to 3-5. She came in ranked 533rd. | Tennis News Key Points
Hindustan Times
Eicher Motors Q1 Results: Profit zooms 50% YoY to Rs 918 crore, revenue jumps 17%
On a sequential basis, Eicher's PAT improved by 1.4% and revenue by 4.78%. The automaker's consolidated margin came in at 25.6% and was higher than the estimate of 24.5%. Key Points
Economic Timesimproved forex reserve provided India's policymakers room for manoeuvre: BIS report
BIS is an international financial institution which is owned by member central banks with primary goal to foster international monetary and financial cooperation. Several members noted that the development of deeper and more liquid FX markets in the past facilitated efficient price discovery during 2022 and reduced the need for FX interventions or capital flow measures (CFMs) (including China, Indonesia and Malaysia), the report said. Key Points
Economic TimesHousing demand outlook remains positive; urbanisation, affordability, aspiration to drive sales: DLF Chair
DLF Chairman Rajiv Singh remains bullish on India's housing sector and expects strong sales momentum to sustain on the back of rapid urbanisation, improved affordability and aspirational need. Singh also noted that the sector is witnessing a consolidation in demand towards credible and organised real estate developers. Key Points
Economic TimesRise in investments will generate more jobs this decade: CEA
V Anantha Nageswaran anticipates more job opportunities with improved capital formation, evidenced by positive signs in various sectors. The economy shows potential for growth with streamlined policies and a focus on job creation. Key Points
Economic TimesBudget 2024: Prescription for cervical cancer vaccine, new medical colleges
The government is planning to include the human papillomavirus (HPV) vaccine in the country's immunisation program, potentially making vaccines to prevent cervical cancer more affordable. Finance Minister Nirmala Sitharaman stated that the government aims to encourage vaccination for girls aged 9 to 14 to prevent cervical cancer. Currently, the HPV vaccine is available in private hospitals at a cost of up to ₹4,000 per dose. Additionally, the government plans to establish more medical colleges and upgrade Anganwadi centers for improved healthcare services and nutrition delivery. Key Points
Economic Times
India tech valuations put to the test as global headwinds put pressure on earnings
Indias tech sector index, which includes Infosys Ltd. and Tata Consultancy Services Ltd., rallied 12% in the three months through December, powered by a global rally in the space after a dovish pivot by the Federal Reserve. Indias tech stocks trade at about a 30% premium to the broader market. improved sentiment aside, IT earnings remain under pressure. Key Points
Economic TimesThis Diwali be bullish but selectively: 7 largecap stocks with right mix of RoE & RoCE
Once again bulls have shown that while bears have the right to make a comeback attempt, bulls who have ruled the street for the last three years are in no mood to give up easily. That was reflected in improved market breadth even though nifty and sensex had been only moving in range bound mode. While the recent performance has been good, given the valuations, it would be better to be selectively bullish and put more checks and balances both in terms of quantitative and qualitative parameters while looking at stocks. Key Points
Economic TimesImproving employee experience helps boost profitability, says global survey
Improving employee experience (EX) is a key goal for C-Suite executives, according to a report by NTT. The report highlights that enhancing EX can lead to improved employee satisfaction, productivity, retention, and automation. However, only 42% of organizations align their technology strategy with their EX strategy. Key Points
Economic TimesHow India is preparing for 6G revolution which will transform connectivity as we know it
India is preparing for the arrival of 6G wireless broadband technology, with commercial deployment expected around 2030. 6G networks will offer data speeds up to 100 Gbps, almost 100 times faster than 5G, and improved network connectivity. The International Telecom Union (ITU) has backed India's call for ubiquitous 6G coverage, ensuring that network deployments will be affordable and provide fast broadband connectivity for the masses. Key Points
Economic TimesLIC Q1 results: Net profit surges fourteen-fold to Rs 9,544 cr
LIC's solvency ratio improved marginally to 1.89 compared with 1.88 last year and its net premium income was mostly flat at Rs 98,363 crore Key Points
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India's PNB Housing posts 48% rise in Q1 profit on strong housing demand
Indian mortgage lender PNB Housing Finance (PNBH.NS) on Monday posted a nearly 48% rise in its first-quarter profit, driven by robust demand for housing loans and improved asset quality. Key Points
ReutersFM asks PSBs to follow transparent NPA recognition norms, pursue robust risk management
All the major financial parameters viz., credit deployment, profitability, asset quality, capital adequacy etc. indicate that the performance of PSBs has significantly improved. They're adequately capitalised, resilient, and have sound financial health. Key Points
Economic TimesSensex surges 450 points, hits fresh record high; Nifty above 19,050
Indian shares rose on Friday, with the benchmarks scaling new all-time highs on improved sentiment following robust economic data from the U.S., which eased fears of a slowdown. The midcaps and smallcaps hovered around fresh record and 52-week highs, Key Points
Times Of IndiaNifty, Sensex hit new record highs as strong US data lifts mood
India Business News: All the 13 major sectoral indexes logged gains, with high-weightage financials rising 0.74%. India's blue-chip Nifty 50 and Sensex indexes rallied to Key Points
Times Of IndiaSugar, FMCG sectors can be part of the portfolio now: Anshul Saigal
Kotak Mahindra AMC's CIO, Anshul Saigal, believes that the sugar industry is attractively poised due to rising prices and improved industry structure from the ethanol policy. However, the agrarian stocks like UPL, Rallis, and Tata Chemicals have consistently failed to deliver despite their potential. Saigal suggests splitting the sector into various buckets, such as agrochemicals, food-related sectors, and those that benefit from food price increases, and investing in the sectors that suit an investor's needs at a given time. Key Points
Economic Times
Cementing portfolio; 5 mid and small cap cement stocks which can deliver over 36 % returns, say analysts
While the focus of news stays ACC and Ambuja, it would be better to look at many other players, some of them in mid and small cap space. Some of them have improved their performance in terms of operational efficiency. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesPSU banks earned total profit of ₹70,167 crore in April-December FY23: Govt.
Minister of State for Finance Bhagwat K. Karad also said the NPA ratio of public sector banks has improved — declining from the peak of 14.6% in March 2018 to 5.53% in December 2022 Key Points
The Hindu