Moody's downgrades Vedanta as bond restructuring gets investor nod
Vedanta Resources had last week received investor consent to restructure about $3.8 billion of its outstanding corporate bonds. Moody’s said the company is likely to face material liquidity issues over the coming 24 months and the risk of default risk remains high Key Points
mintMeta Finally Figures Out How to Sell the Metaverse
Facebook parent’s ad business is booming again, while AI gives better cover to its capital-spending surge. Buybacks and a new dividend don’t hurt either. Key Points
mintBoeing’s teary CEO pulled off a delicate balance in his contrition
Corporate apologies are harder to make than one may think. Research says that emotional displays can be risky if they seem put-on but helpful if done earnestly and backed by a credible commitment to make amends. Key Points
mintToshiba accepts $15 billion buyout offer from JIP, Nikkei says
International Business News: Toshiba Corporation's board has approved a bid from a group led by Japan Industrial Partners for $15.3bn. The move could bring down the curtain on yea Key Points
Times Of IndiaApple's India map provider surges 104% in over 6 months as it rivals Google’s product
Shares of MapmyIndia, formally known as CE Info Systems Ltd., have risen about 104% from the end of March, adding around $675 million in market value on demand for its consumer-facing app Mappls. Some analysts and investors are betting on the companys domestic growth opportunity, while others view its price tag as a barrier. Key Points
Economic Times
Bajaj Auto share price tanks 1.4% after Q4 net profit falls 2.5%; Should you buy, sell or hold Bajaj Auto stock?
Bajaj Auto shares have risen nearly 13% in the past one month and 11% in the last one year. Meanwhile, the company’s board has approved the reappointment of Rakesh Sharma as whole-time director. Key Points
FinancialexpressStocks in news: SBI, Coal India, ONGC, SpiceJet, RateGain Travel, BSE, Oberoi Realty
The government on Monday appointed Vinay M. Tonse as the Managing Director of the lender until November 30, 2025. Key Points
Economic TimesOberoi Realty shares jump after it announces foray into Delhi NCR
New Delhi [India], November 20 (ANI): Shares of Oberoi Realty traded firm on Monday morning after the real estate developer over the weekend announced its foray into the National Capital Region. At the time of filing this report, the realty company’s shares were 3 per cent higher at Rs 1,380. Its intra-day high is Rs […] Key Points
ThePrintPage Industries share price tanks 13% after Q4 net profit falls 59%; Should you buy, sell, hold?
Page Industries stock plunged 13% on Friday. The company’s shares have fallen over 12% in the past one month, and nearly 14% in the past one year. Key Points
FinancialexpressHFCL profit falls 23% in Q4
Owing to an increase in operating expenses, the company's EBITDA margins contracted by six percentage points or 606 basis points sequentially to 11.74% in the January-March quarter. Key Points
Financialexpress
Five debt defaults, two NPAs & 100% value erosion. MTNL barrels towards a major financial crisis
Since 2019, govt has pumped Rs 3.22 lakh crore into MTNL & BSNL. Both remain in losses. MTNL has begun to default on loans & bond payments, possibly the first large PSU to become NPA. Key Points
ThePrintIRCTC share price tanks 2% today despite Q4 net profit jumps 30%; board declares dividend of Rs 2 per share
IRCTC stock plunged 2% on Tuesday. The company’s shares have gained nearly 3% in the last one month while they have fallen 9% in the last one year. Key Points
FinancialexpressStocks in news: Tata Steel, Maruti Suzuki, CONCOR, Dilip Buildcon, Genus Power
The automaker is planning capital expenditure amounting to approximately Rs 1.25 lakh crore until 2030-31. The expansion plan involves expanding its current product lineup from 17 models to 28, while increasing its production capacity. Key Points
Economic TimesNational Insurance Company hopes to achieve breakeven in three years
The general insurance company's net loss stood at Rs 1,679 crore in FY22 against a net loss of Rs 565 crore in FY21. During the financial year 2018-19, the company had incurred a net loss of Rs 1,696 crore. Key Points
FinancialexpressVodafone Idea pays Rs 300 crore of old dues to Indus Towers
Prior to the latest Rs 300 crore payment, Vis past dues to Indus were estimated upwards of Rs 10,000 crore as per industry estimates. Indus leadership, though, remained non-committal on dividend payouts amid improved collections from Vi, saying any board decision could be taken only by end-FY24, post-evaluation of collection trends and its impact on the tower companys free cash flow (FCF) situation. Key Points
Economic TimesSamsung opens maiden company-owned store outside Korea close to Apple's first India store in BKC
Mumbai, Jan 23 (PTI) Consumer electronics giant Samsung on Tuesday opened its first company-owned store outside South Korea, in the BKC business district. The Samsung store inside a mall is just over a km from rival Apple’s recently opened store in another mall. The company’s store is spread over 8,000 sq ft in the second […] Key Points
ThePrintIndia's Dr. Reddy's shares fall on observations from US regulator
BENGALURU (Reuters) - Shares of Indian drug-maker Dr. Reddy's Laboratories were down 6.5% on Monday after the U.S. Food and Drug Administration issued three observations for the company's plant in Key Points
ThePrintRaymond shares gain 3% after 12-day losing streak. Here’s why
At around 1:35 pm, shares of Raymond were up 3.18 per cent at Rs 1,551.25 apiece, providing much-needed relief to shareholders of the company as the company’s longest-ever losing streak on record came to an end. Key Points
India TodayImproving premiumisation to help Hero Moto stay ahead on growth track
Hero Motocorp's stock has regained investor interest due to rising premiumisation-led earnings growth and higher two-wheeler volume growth. The company's premium bike segment, including Karzima and Harley-Davidson bikes, has seen a 30% increase in its portfolio. The average selling price per unit was Rs 66,680 in Q2 2024, the highest ever. Key Points
Economic TimesDMart Q2 Preview: PAT may fall 3% YoY despite double-digit sales growth
DMart Q2 Results Preview: According to the provisional numbers released by the owner of DMart hypermarket chain earlier this month, the companys standalone revenue increased by nearly 19% YoY in the September quarter to Rs 12,308 crore. However, the net profit is expected to decline about 3% on year to Rs 666 crore, according to the average of estimates given by five brokerages. Key Points
Economic Times
Backing Rahul Yadav's 4B Networks was a mistake, says Info Edge's Sanjeev Bikhchandani
The consumer internet group has initiated arbitration proceedings against its portfolio company 4B Networks, founded by Housing.com cofounder Rahul Yadav, after the startup failed to provide crucial information about its operations and management for a forensic audit. Key Points
Economic TimesNestlé to raise chocolate, coffee capacities in India
Nestlé India plans to invest ₹4,200 crore ($564 million) by 2025 to expand its manufacturing capacity for noodles, coffee, and chocolates in the country. The investment will help the company meet the demand for both mass and premium products. Key Points
mintBK Birla Group flagship Kesoram Industries hopes to be back in black in next 18 months
"At least 18 months from now we should be in black. So, this year we will go all out for turning to black," P Radhakrishnan, whole-time director & CEO, Kesoram, told reporters here on Wednesday after the company's annual general meeting. Key Points
FinancialexpressMRF stock price surpasses ₹1 lakh-mark intraday
Tyre major MRF Ltd. saw its share price climb above the ₹1 lakh mark in intraday trading on the BSE and NSE on Tuesday, making it the first Indian stock to trade above the six-figure mark. Key Points
The HinduWarburg Pincus acquires 90% stake in MSME-lender Vistaar Finance for $250 million
Credit and Finance for MSMEs: As of March 2023, the 2500-people strong Vistaar Finance had assets under management worth Rs 3,150 crore. Post the deal, Vistaar’s net worth is Rs 1,210 crore with a capital adequacy of 37 per cent. Key Points
Financialexpress
Manappuram posts 58% jump in Q4FY23 profit on healthy gold loan, micro-finance businesses
Manappuram Finance's consolidated net profit rose to 4.13 billion rupees ($50.50 million) in the January to March quarter, from 2.61 billion rupees a year ago. Key Points
FinancialexpressU.S.FDA observation for Dr. Reddy’s unit
Dr. Reddy’s Laboratories has been issued a Form 483 with one observation by the United States Food and Drug Administration following an inspection of the company’s active pharmaceutical ingredient (API) manufacturing facility in Bollaram, Hyderabad. Key Points
The Hindu