HCL Tech Q1 results: Net profit rises 20% YoY to Rs 4,257 crore, revenue grows 7%
HCL Technologies on Friday reported a 20% year-on-year jump in net profit for the June quarter to Rs 4,257 crore. Its net profit in the same quarter last year was Rs 3,534 crore. Key Points
India TodayInfosys vs TCS: Who is poised to win in this Q4 IT battle?
TCS and Infosys are set for Q4 IT battle with muted industry performance expected. TCS eyes strong growth, while Infosys anticipates recovery in FY25. Margins favor TCS. Market outlook cautious amidst global uncertainty. Key Points
Economic TimesUS economic growth for last quarter is revised up to 3.4%
International Business News: The U.S. economy expanded by 3.4% in the last quarter of 2023, surpassing the initial estimate of 3.2%. Consumer spending, exports, and business inves Key Points
Times Of IndiaBid to widen reach during elections, cricket mania: Companies plan ad splurge for action-packed June quart
Maruti Suzuki, Tata Motors, Hyundai Motors, Dabur and Godrej Appliances among others said they will be increasing their ad budgets for the next quarter. Overall spending may surpass that of the festive season because of the confluence of events, experts said. Marketers said the increased spend will be on print, broadcast and digital media. Key Points
Economic TimesRBI likely to hold rates steady until at least July: Poll
India's economy grew a stellar 8.4% in the fourth quarter of 2023, the fastest among major economies. Inflation, which is still close to the upper band of the central bank's 2%-6% target, does not hint at an imminent rate cut. Key Points
Economic Times
RBI may maintain policy rate amid strong Q3 GDP growth and delayed US rate cut expectation
The stronger than expected real GDP growth in the third quarter may prompt RBI to continue the status quo on policy rate. Economists believe the easing cycle may not begin before October. Rate cuts are unlikely, but RBI's communication on liquidity is important. Key Points
Economic TimesIndia's economy rose 8.4% in Oct-Dec, manufacturing sector played key role, shows govt data
The growth rate was much faster than economists' forecasts of 6.6% as seen in a Reuters poll, and higher than revised growth of 8.1% in the previous quarter. Key Points
ThePrintGlobal research firm Kantar predicts continued decline in demand for FMCG products in India
Kantar, a global research firm, predicts a further decline in demand for daily groceries, essentials, and household products in India over the next few quarters. This projection extends the timeline for volume recovery in the fast-moving consumer goods (FMCG) industry, which experienced a slowdown in the December quarter. In the same quarter, overall volumes expanded by 5.2%, down from 6.9% in the previous quarter, with rural markets growing by 4.8% and urban areas by 5.6%. Key Points
Economic TimesFIIs dumped Rs 7K-crore worth Paytm shares before RBI ban. Look, what else they sold
According to a report by PRIME Database, Paytm shares worth Rs 7,441 crore were offloaded by foreign investors in the December quarter, making it the top sell by FIIs in the quarter gone by. Their holding value in Paytm's parent company, One97 Communications, dropped to Rs 25,706 crore from Rs 33,148 crore at the end of the third quarter. Key Points
Economic TimesZEEL Q3 Results: Profit more than doubles to Rs 59 crore; revenue falls 3% YoY
ZEEL Q3 Results: Revenue during the December quarter fell 3% YoY to Rs 2,045 crore. The company reported a 43% decline in Q3 EBITDA at Rs 209 crore compared to Rs 366 crore in the same quarter last year. Key Points
Economic Times
Coal India Q3 Results: Profit rises 17% YoY to Rs 9,069 crore; dividend declared at Rs 5.25/share
Revenue from operations rose 3% year-on-year to Rs 36,154 crore in the third quarter, compared with Rs 35,169 crore in the same period of last year. The profit before tax during the third quarter under review surged to an all-time high to Rs 12,375 crore, posting a double digit growth of 17% year-on-year. Key Points
Economic TimesONGC Q3 results today: What to expect and key things to track
Net profit for the third quarter is likely to fall around 13% year-on-year, according to an average estimate of four brokerages. On a sequential basis, profit is seen dropping by a marginal 1%. Key Points
Economic TimesUnilever to 'defend its position' amid attack on price points by local companies
If you look at India, the good thing about quarter four is with the price pressure that is there in India, one of the impacts of deflationary pressure in some categories could be with increased competition and so forth. We have seen a volume growth, so the minus 2% on pricing was balanced by a 2% volume growth. I think that's a positive for India, Unilever's chief executive officer Hein Schumacher said during its earnings call. Key Points
Economic TimesTrent shares surge 23% in two sessions on strong Q3 results. Should you but at current levels?
Fashion and lifestyle player Trent reported a 124% year-on-year (YoY) surge in consolidated net profit at Rs 374.36 crore for the quarter ended December 30. The profit stood at Rs 167 crore in the corresponding quarter last fiscal. Key Points
Economic TimesTata Consumer Q3 Results: Net profit drops 21% YoY to Rs 279 crore; revenue rises 9
Tata Consumer Q3 Results: Revenue from operations increased 9% year-on-year (YoY) to Rs 3,804 crore in the December quarter. The same stood at Rs 3,474 crore in the last year quarter. Key Points
Economic Times
Nestle Q4 results today: What to expect from the Maggi noodles maker?
Sequentially however, the earnings will be weak, with the net profit likely to drop by nearly 8%, weighed down by a 7% fall in revenue and 8.4% decline in operating profit. Key Points
Economic TimesBerger Paints Q3FY'24 net profit jumps 49pc to Rs 300cr
Kolkata, Feb 6 (PTI) Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year. Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a […] Key Points
ThePrintSmartphones may get costlier from next quarter
Smartphone prices may increase in the June quarter due to rising memory chip prices and the strengthening of the Chinese yuan. Recent import duty cuts may partially offset the increase. Samsung and Micron are expected to implement a 15-20% price increase for memory chips in the March quarter. The impact of the price hike will be felt in the next quarter as vendors currently have sufficient inventory. Key Points
Economic TimesFMCG majors slash prices, hike advertising spends to beat regional brands
Top FMCG majors, including Hindustan Unilever, Marico, and Adani Wilmar, are reducing product prices and increasing marketing investments to combat competition from regional brands. These companies have faced a decline in market share due to lower-priced products from local and unorganised players. By lowering prices and increasing pack weight, they are already witnessing sales growth and expect further gains in the coming months. Hindustan Unilever anticipates that pricing corrections and increased pack weight in detergent bars will help in the fight against local players. Additionally, companies like Marico and Adani Wilmar have seen improved volume growth and doubled sales in their branded segments. Key Points
Economic TimesGHCL Q3 net profit declines 60%
India Business News: Soda ash maker GHCL posted a 60% decline in its consolidated net profit for the third quarter of FY 2024. Its revenue from operations declined 27.6% t Key Points
Times Of India
Q3 results today: SBI, Clean Science, KIMS among 50 companies to announce earnings
Nearly 50 companies, including Archean Chemical Industries, Affle, Balu Forge, Clean Science and Technology, Gujarat Alkalies & Chemicals, and Krishna Institute of Medical Sciences (KIMS), will announce their December quarter earnings. The market is particularly interested in the results of PSU lender State Bank of India (SBI). Key Points
Economic TimesSBI Q3 results today: What to expect, key things to track for investors
SBI has guided for a shortfall of Rs 10,000 crore towards the new wage agreement, which will be spread over two quarters of H2FY24. In the second quarter, SBI had a one-off wage provision of Rs 3400 crore. Key Points
Economic TimesIndiGo Q3 profit more than doubles to Rs2,998 cr; over 70 planes on ground due to P&W engine issue
New Delhi, Feb 2 (PTI) Remaining profitable for the fifth straight quarter, the country’s largest airline IndiGo on Friday reported more than doubling of its profit after tax to Rs 2,998.1 crore in the 2023 December quarter while more than 70 planes of the carrier are grounded due to Pratt & Whitney engine issues. Helped […] Key Points
ThePrintIndia Cements reports Rs 16crore loss in Q3 FY24
India Business News: India Cements reports a loss of Rs 16 crore in the third quarter of FY24. Read about the company's financial performance, capacity utilization, and future outlook. Key Points
Times Of IndiaAdani Green Energy Q3 net profit swells 148% at Rs 256 crore
India Business News: Adani Green Energy Limited, the renewable energy arm of Adani Group, reports a 148% increase in net profit for Q3 FY 2024. Find out more about their revenue growth and capacity utilisation factor. Key Points
Times Of India
Porinju Veliyath Portfolio: Betting big on Kerala Ayurved, 4 other smallcaps; adjusting stakes in key sect
Veliyath raised his stake in Kerala Ayurved by 164 bps to 4.82% in the quarter ended December 30, 2023. At the end of the September quarter, he held 3.18% stake in the company. The value of his holding is nearly Rs 14.8 crore, Trendlyne data said. Key Points
Economic TimesAshish Kacholia portfolio: Ace investor adds 4 smallcaps, exits multibagger Tarc & 3 others in major Q3 re
Kacholias holding in as many as four stocks fell below 1% during the last quarter. The ace investor increased his holding in a couple of counters while trimming in three others, according to the shareholding data available on the BSE. Key Points
Economic TimesTata Technologies Q3 Results: Net profit rises 15% YoY to Rs 170 crore
Tata Technologies Q3 Results: Revenue from operations in the third quarter increased 15% year-on-year to Rs 1,289 crore, compared with Rs 1,124 crore in the corresponding quarter of last year. Services segment revenues were up 8.3% YoY to $120.2 million. In constant currency, services revenues were up 6% YoY. Key Points
Economic TimesQ3 Results Today: SBI Life, JSW Steel, Vedanta, Adani Power among 84 companies to announce earnings
On the last trading day of this week, 84 companies listed on the BSE will announce their December quarter earnings. Among the Nifty companies, SBI Life Insurance Company and JSW Steel will report their Q3 earnings. Street will also keeping a close track on the earnings of ACC, Adani Power, AU Small Finance Bank, Cyient, Equitas Small Finance Bank, Hindustan Petroleum Corporation (HPCL), Indian Energy Exchange. Key Points
Economic TimesDLF reports highest quarterly sales booking of Rs 9,047 crore during Q3 of FY24
The company launched three new projects totalling over 5 msf during the quarter across multiple segments. The launches during the quarter were DLF Privana South, Gurugram- a luxury high rise development, Central 67, Gurugram – a shop-cum-offices plotted development and The Valley Orchard, Panchkula-low-rise independent floors. Key Points
Economic Times
Q3 Results Today: Bajaj Auto, Tata Steel, Tech Mahindra, DLF among 78 companies to announce earnings
The BSE will see seventy eight companies announcing their December quarter earnings, including Bajaj Auto, Tata Steel, and Tech Mahindra. Axis Bank reported a 4% YoY increase in net profit for the October-December quarter. Bajaj Auto is expected to have a 33.3% YoY rise in net profit, while Tech Mahindra may see a decline in revenue but a rise in net profit. Other companies announcing their Q3 results include Ujjivan Small Finance Bank, UCO Bank, TVS Motor Company, Railtel, and PNB Housing. Key Points
Economic TimesMFs and FIIs increase stakes in 5 out of 6 new-age tech stocks, Zomato among them
New-age consumer technology stocks continue to attract investors on Dalal Street. Mutual funds and foreign institutional investors have increased stakes in five out of the six listed companies in the December quarter. Zomato is the top-performing stock, with a staggering 154% returns in FY24. Paytm, PB Fintech, and Nykaa have also seen an increase in investor interest. Ant Group has exited Zomato, while One97 Communications and Delhivery have trimmed down their losses. Analysts remain positive on Paytm and PB Fintech, but less bullish on Nykaa due to competition in its segments. Key Points
Economic TimesIndia's ICICI Bank posts record high profit in Q3
MUMBAI (Reuters) - India's ICICI Bank reported a record high profit for the fiscal third quarter on Saturday, helped by strong loan growth. The private bank reported a standalone net profit of 102.72 Key Points
ThePrintHindustan Zinc Q3 Results: Profit falls 6% YoY to Rs 2,028 crore
Revenue from operations too declined 7% year-on-year to Rs 7,067 crore in the said third quarter. On a sequential basis, net profit jumped 17% from Rs 1,729 crore reported in the preceding quarter, while revenues were up 8% quarter-on-quarter. Key Points
Economic TimesRealty firm Aurum Proptech's consolidated revenue rose 49 pc in Oct-Dec quarter
New Delhi [India], January 18 (ANI): Realty firm Aurum Proptech reported a 49 per cent rise in consolidated revenue from operations during the October-December quarter at Rs 57.31 crore. In the same quarter of 2022, the revenue from operations was Rs 38.56 crores. The company’s financial results for the quarter ended December 31, 2023, were […] Key Points
ThePrint
IndusInd Bank Q3 Results: Net profit rises 17% YoY to Rs 2,298 crore; NII up 15%
IndusInd Bank Q3 Results: The lender's net interest income for the December quarter rose 15% to Rs 5,296 crore. Other income during the third quarter increased 15% YoY to Rs 2,396 crore against Rs 2,076 crore in the corresponding quarter of the previous year. Key Points
Economic TimesDespite selling by Dalal Street big bulls, 4 smallcap stocks turned multibaggers in Q3
Despite selling by mutual funds and foreign investors, Allcargo Terminals, PC Jeweller, and MSTC saw significant returns in the last quarter. Allcargo Terminals' stock hit a lifetime high with 102% returns and a decrease in mutual fund holding from 1.30% to 0.55% and FII holding from 8.22% to 7.61%. PC Jeweller gave 123% returns with MFs exiting the company and FIIs reducing their holding. Key Points
Economic TimesLTIMindtree Q3 operating margin dips
The Mumbai-based IT company posted 0.8% sequential growth in operating revenue, to $1.08 billion for the December quarter Key Points
mintMore pain ahead? HDFC Bank ADRs slump 8% after leading a carnage on D-Street
The stock recorded its biggest fall on D-Street in over two years, leaving a dent of Rs 1 lakh crore after the company's third-quarter results failed to impress investors. Following the disappointment in December quarter results, a number of brokerages have reduced their target prices. However, it remains a top buy in the long term for many. Key Points
Economic TimesLTIMindtree Q3 Results: Net profit rises 17% YoY to Rs 1,169 crore, meets estimates
LTIMindtree Q3 Results: Revenue from operations in the same period increased 5% to Rs 9,017 crore as against Rs 8,620 crore in the December quarter of last year. EBIT for the third quarter jumped 16% year-on-year to Rs 1,386 crore as against Rs 1,197 crore reported in the same quarter of last year. EBIT margins also improved to 15.4% in the reporting quarter. Key Points
Economic Times
LTTS on track to meet guidance; highest growth from Europe: MD
Amit Chadha, MD & CEO of L&T Technology Services, confirms that the highest growth in the last two quarters has been from Europe, followed by North America and the rest of the world. He expresses confidence in a good Q4 and reaffirms the company's guidance. The contribution from the BP deal has started, and the team is expected to scale up over time. Margins have improved, but the company continues to balance operating expenses and investments. Key Points
Economic TimesJio Financial Services reports a dip in quarterly profits
The overall revenue for the third quarter amounted to Rs 413 crore. In the previous quarter, JFS had reported a net profit of Rs 668 crore. Key Points
India TodayJio Financial profit drops 56% to 294 crore in December quarter
India Business News: Jio Financial Services has reported a consolidated net profit of Rs 294 crore for the December quarter, down 56% from the preceding quarter. The decline in net profit was largely due to a revenue of Rs 217 crore in the previous quarter from dividend income, higher gain from fair value changes, and lower expenses. On a standalone basis, net profit stood at Rs 70.4 crore for the December quarter versus Rs 88.7 crore in the preceding quarter. Jio Financial Services has also announced the appointment of Hitesh Kumar Sethia as MD & CEO. The company has started its insurance broking business, forming partnerships with 27 insurance companies in both the general and life sectors, and introducing embedded and extended warranty covers in the form of sachet insurance. Key Points
Times Of IndiaHCL Tech Q3 results better-than-expected; here are 6 major takeaways for Dalal Street
HCL Techs consolidated net profit rose 13.5% sequentially to Rs 4,350 crore in the December quarter, and revenue grew nearly 7% to Rs 28,446 crore. Key Points
Economic TimesTCS Q3 Results: Profit rises 2% YoY to Rs 11,058 crore; revenue up 4%
TCS Q3 Results: Indias largest software service provider reported a 2% YoY growth in consolidated net profit for the December quarter to Rs 11,058 crore, while the revenue increased 4% to Rs 60,583 crore. Analysts estimated a revenue of Rs 60,119 crore and a profit of Rs 11,446 crore. The board also recommended a special dividend payout of Rs 18/share and an interim dividend of Rs 9/share. Key Points
Economic Times
TCS Q3 Results Preview: Revenue, PAT likely to see muted growth; demand outlook critical
TCS Q3 Results Preview: For the December quarter, TCS is seen reporting a 0.7% sequential rise in consolidated revenue to Rs 60,119 crore, and a mere 1% rise in profit to Rs 11,446 crore, according to the average of estimates given by nine brokerages. On a year-on-year (YoY) basis, the topline is expected to rise 3.3% and the bottomline by 5.5%. Key Points
Economic TimesInfosys Q3 Results Preview: Revenue may fall 8% YoY on higher furloughs; will FY24 guidance see a cut?
Infosys Q3 Results Preview: Consolidated revenue of Infosys in the quarter is likely to drop by 1% sequentially to Rs 38,641.40 crore and the net profit is seen down 2.2% at Rs 6,078 crore, according to the average of estimates given by nine brokerages. On a year-on-year (YoY) basis, the bottomline is likely to decline by nearly 8%, while the topline may rise by about 1%. Key Points
Economic TimesDon’t expect recovery in FMCG before FY25: Abneesh Roy
Abneesh Roy says: “In our view, in Q3, most of the companies will see flat to low-single digit volume growth in the rural areas while urban areas will be growing faster. Even in Q4, we do not see a big recovery in rural demand currently. Our sense is the recovery will happen in FY25, based on Rs 1 lakh crore election spending, government stimulus, freebies, etc.” Key Points
Economic TimesLoan growth, fees to lift bank profits in Q3, higher deposit costs to pinch
Term deposit rates have increased between 70 and 120 basis points, mostly in the third quarter. Analysts say that the margin compression could hence be severe, particularly year on year, as banks have lost most benefits from the rise in interest rates in their bid to garner funds. One basis point is 0.01 percentage point. Key Points
Economic TimesJaguar Land Rover Q3: Tata Motor's luxury arm achieves highest wholesales in 11 quarters; order book decli
On Monday, Jaguar Land Rover, owned by Tata Motors, announced a 27% surge in total wholesales, reaching 101,043 units in the third quarter ending on December 31, 2023, compared to the same period last year. According to Tata Motors' stock filing, this quarter marked the highest wholesales for Jaguar Land Rover in the past 11 quarters. Key Points
Economic Times
Stocks in news: Titan, Marico, Bajaj Auto, Adani Wilmar, Tata Steel
Consumer discretionary major Titan Co saw 22% revenue growth for the third quarter ended December. The growth was broad-based as most of the segments put up a healthy performance during the quarter. Key Points
Economic TimesParties' Lok Sabha polls spend may top Rs 1 lakh crore, spur growth in Q4
Political parties' spending for the Indian general election could exceed ₹1 lakh crore, potentially increasing consumption and boosting growth by 0.2-0.3 percentage points in the last quarter of FY24. Candidates are expected to accelerate their spending, increasing travel for campaigns and publicity material. The increase in consumption is expected to be more pronounced for rural households and lower-income groups. Key Points
Economic TimesAvenue Supermarts Q3 Update: Revenue rises 17% YoY to Rs 13,247 crore
The company reported a standalone revenue of Rs 13,247.33 crore for the quarter ended December, compared to Rs 11,304.6 crore in the same quarter last year. Key Points
Economic TimesBest places for expats to live in Asia: Salary, cost of living, taxes
Tokyo came out on top in a Bloomberg analysis of 10 metrics including potential salary increase, rent, personal taxes and education costs. The Japanese capital boasts relatively low international school fees and steady rents — plus residents can buy a Tesla Model Y Performance for about $50,000. Key Points
Economic TimesTelecom sector AGR grows 1.75% on-quarter in Q1FY24: Trai
Latest operator performance data put out by the Telecom Regulatory Authority of India (Trai) on Tuesday showed Airtel notched up the highest sequential AGR gain in the June quarter. Jio and Vi also reported on-quarter growth in AGR. Key Points
Economic Times
Investing in energy, automobile, healthcare, FMCG, oil and gas, metal or IT stocks? Know how India Inc per
Steady demand, lower input costs and stable interest rates supported the performance of corporate India in the September quarter. The energy and automobiles sectors contributed the most to India Inc.’s profitability. As many as 490 companies of the Nifty 500 index reported an aggregate revenue and net profit (adjusted for extraordinary items) growth of 1% and 43%, respectively, on a y-o-y basis. Excluding the financial sector stocks, the aggregate EBITDA of 405 stocks grew 40.7% y-o-y. Key Points
Economic TimesSecond quarter GDP numbers likely to be good: Economic Affairs Secretary
Economy grew at 7.8 per cent in first quarter (April-June). Indian economy is showing momentum and the growth rate in the second quarter (July-September) is likel Key Points
The Tribune IndiaUS economy grows 5.2% in third quarter; higher interest rates eroding momentum
Gross domestic product increased at a 5.2% annualized rate last quarter, revised up from the previously reported 4.9% pace, the Commerce Department's Bureau of Economic Analysis (BEA) said in its second estimate of third-quarter GDP Key Points
Business TodayFemale labour force participation rises to 24%; unemployment declines below 9%: Survey
While female unemployment has declined, the quality of jobs has not improved. An ET analysis shows that the share of women in regular-wage jobs reduced further in July-September period. The share of women in regular-wage work declined at a faster pace than the one witnessed in the last year to 52.8% from 54% in the previous quarter. Key Points
Economic TimesSecond quarter GDP numbers likely to be good: Eco Affairs Secretary
New Delhi, Nov 29 (PTI) Indian economy is showing momentum and the growth rate in the second quarter (July-September) is likely to be good, Economic Affairs Secretary Ajay Seth said on Wednesday. The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the […] Key Points
ThePrint
US third-quarter economic growth revised up to 5.2%
The U.S. economy's third-quarter growth was revised upwards to a 5.2% annualized rate, exceeding the previously reported 4.9%. The Commerce Department's Bureau of Economic Analysis released the second estimate, indicating the fastest expansion since Q4 2021. The revision was attributed to upgrades in business investment, state and local government spending, and residential investment. Key Points
Economic TimesWhy DEA Secretary is upbeat about India's Q2 GDP numbers
The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the first quarter (April-June) of the current financial year. The Budget 2023-24 proposes to bring down the fiscal deficit to 5.9 per cent of the GDP from 6.4 per cent in the previous financial year. Key Points
Economic TimesUS commercial property loan activity to drop off in Q4 after Q3 pickup -DBRS
Issuance of securities backed by U.S. commercial real estate (CRE) loans posted a rare rebound last quarter, but sector struggles will likely persist through 2023, according to ratings agency DBRS Morningstar. Key Points
ReutersSalesforce's strong stock price wooed some investors during third quarter-filings
Boasting a booming share price, Salesforce (CRM.N) attracted more investor cash during the third quarter even as one of the software company's early public critics further cut its stake, according to regulatory filings. Key Points
ReutersApple supplier Foxconn books surprise rise in quarterly profit
Apple Inc (AAPL.O) supplier Foxconn (2317.TW) reported on Tuesday a surprise 11% increase in third-quarter profit, boosted by strong demand for smartphones ahead of the year-end holiday shopping season in Western markets. Key Points
Reuters
Indians dethrone British to become largest real estate investors in Dubai
The Betterhomes Residential Market Report showed Indians topping the nationalities list in the June and September quarters - up from No. 2 in the first quarter when Britishers led the field - in the purchase of new homes for end-user demand or investors seeking better yields and Golden Visa eligibility. Indians have consistently been among the top five homebuyers in Dubai. Key Points
Economic TimesRetail holding in NSE companies at record high
India Business News: The share of retail investors in companies listed on the NSE rose to an all-time high of 7.6% during the quarter ended September from 7.5% a quarter a Key Points
Times Of IndiaEicher Motors Q2 Results: Profit surges 55% YoY to Rs 1,016 crore; revenue rises 17%
The topline and bottomline were the highest-ever quarterly numbers for the company. The company has also reported a record EBITDA of Rs 1,087 crore, with a growth of 32% YoY. Total sales volume during the second quarter increased 13% year-on-year to 2.29 lakh units. Key Points
Economic TimesIllumina cuts annual profit forecast for second straight quarter
U.S. genetic testing Illumina (ILMN.O) on Thursday trimmed its annual profit forecast for the second straight quarter, hurt by weakness in demand for its sequencing instruments, consumables and services. Key Points
ReutersArm forecasts Q3 below Wall Street on deal delay, shares dive 7%
Semiconductor company Arm Holdings (O9Ty.F), on Wednesday gave a fiscal third quarter sales outlook below Wall Street estimates, with the company attributing the forecast to a large deal that will likely land later than expected. Key Points
Reuters/cloudfront-us-east-2.images.arcpublishing.com/reuters/EYTRBVBR4JNXXEXBIYZBDD6HRM.jpg)
US companies' debt cushion smallest since Q1 2021 :BofA
Rising borrowing costs made a slight dent in U.S. companies' ability to make interest payments on their debt in the third quarter despite a boost in earnings, according to BofA Global Research. Key Points
ReutersFootwear maker Bata India's profit slides 38% on one-time charge
Bata India (BATA.NS) reported a 38% fall in second-quarter profit on Wednesday, hurt by a one-time charge and as inflationary pressures kept footfalls at its shoe outlets in check. Key Points
ReutersNY Fed: US Q3 credit card debt up on strong economy, as credit woes tick higher
U.S. total household debt levels rose in the third quarter amid strong growth in credit card borrowings fueled by a hot economy, although there were mounting signs some borrowers are facing increased challenges managing the money they've borrowed, a report from the Federal Reserve Bank of New York released on Tuesday said. Key Points
Reuters