TCS revenue growth slows to 2.8% over weak demand
India Business News: TCS's growth in the September quarter was weak due to a decrease in discretionary spending and slower deal ramp-ups. Revenue grew by 2.8% in constant Key Points
Times Of IndiaTCS, HCL Tech Q1 results: How their share prices may react after quarterly earnings?
TCS reports strong Q1 earnings, surpassing estimates slightly, while HCL Tech struggles and misses expectations. TCS shows resilience and strong performance, with a solid order book, while HCL Tech faces challenges in the IT sector. Key Points
mintTCS Q4 Results: Profit jumps 15% YoY to Rs 11,392 crore; dividend declared at Rs 24/share
TCS Q4 Results: Both the top and bottomline figures were below Street estimates. At a board meeting, TCS also announced a final dividend of Rs 24 per share. Key Points
Economic Timesgrew Energy to set up solar component unit in Gujarat's Dholera for Rs 3,800 cr
Gandhinagar (Gujarat) [India], January 11 (ANI): grew Energy signed a Memorandum of Understanding worth Rs 3,800 crore at the ongoing Vibrant Gujarat Global Summit in the presence of Chief Minister Bhupendra Patel. The company intends to set up a solar component manufacturing unit at Dholera with a capacity of 2.8 GW, by 2025, it said […] Key Points
ThePrintRetail inflation slides to 4.7% in April; IIP grows just 1.1% in March
India’s retail inflation slid to 4.7% in April, staying below the Reserve Bank of India’s 6% tolerance threshold for price rise for the second successive month and Industrial output grew just 1.1% in March 2023, moderating sharply from 5.8% in February Key Points
The Hindu
Bajaj Finance reports over 20% y-o-y growth in March quarter
The assets under management (AUM) of the company in Q4FY23 grew by Rs 16,500 crore and the FY23 AUM grew by 29% to Rs 2.47 trillion. Key Points
FinancialexpressChina's Q4 GDP grows 5.2% y/y, below market forecast
For the full-year 2023, the economy grew 5.2%, data from the National Bureau of Statistics data showed, partly helped by the previous year's low-base effect which was marked by COVID-19 lockdowns. Analysts had forecast 5.2% growth. Key Points
Economic TimesStocks in news: Bandhan Bank, RBL Bank, Marico, Jubilant Foodworks, HAL
Bandhan Bank's advances grew 12% year-on-year to Rs 1.08 lakh crore while its loan collection efficiency remained stable at 98% at the end of the September quarter. Key Points
Economic TimesIndustrial Output Rebounds in April, but Recovery Remains Uneven
Industrial output in April showed a growth of 4.2%, bouncing back from a five-month low in March. However, electricity generation contracted for the second consecutive month, while manufacturing and mining experienced around 5% growth. The overall industrial growth in April still remained the second slowest in six months. The National Statistical Office revised the Index of Industrial Production for March, indicating a growth of 2.3%. Despite the rebound, experts highlight the uneven nature of the recovery, with some segments still below pre-COVID levels. Key Points
The HinduRupee gains strength, dollar weakens as Fed takes a pause; traders eye Fed Chair’s testimony
As the US inflation grew at a slower-than-expected pace, the dollar weakened. After going through a multi-week long consolidation phase, the rupee gained strength. Key Points
Financialexpress
India’s April-June GDP grows by 7.8%, highest in four quarters
The GDP expansion came of the back of a sequential pickup in the pace of growth of economic activity in financial services, which grew 12.2%. Key Points
Hindustan TimesTwo top officials explain the 'divergence' behind India's stunning growth numbers
GVA, which is a measure of the total value of goods and services produced in the economy and excludes indirect taxes and subsidies, grew 6.5%, prompting economists to say that GDP data overstated growth trends. Key Points
Business TodayGrasim Q3 Results: Cons PAT slumps 40% YoY to Rs 1,514 crore, revenue rises 12%
Grasim's consolidated revenue increased by nearly 12% to Rs 31,965.50 crore. Sequentially, the bottomline surged over 30%, and the topline grew by nearly 6%. Key Points
Economic TimesMamaearth shares zoom 12% as investors find Q2 results toxin-free
Driven by volume growth, Honasa's quarterly revenue grew 21% YoY to Rs 496 crore while its Ebitda margin expanded 170 bps YoY to 8.1%, the highest ever. Key Points
Economic TimesIndia's eight core sectors' growth output up 8% in July
The output of India's eight core sectors grew by 8 per cent in July after hitting a five-month high of 8.3 per cent in June. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Key Points
Economic Times
How did corporate India perform in the final quarter of 2022-23?
India’s GDP grew 6.1% in Q4 2022-23, as per official estimates, higher than the 5.1% forecast in Bloomberg's survey of economists. How did India Inc perform? | Latest News India Key Points
Hindustan TimesIndian carrier IndiGo stays profitable on demand, forex boost
IndiGo's revenue grew 76.5% in the quarter, slightly outpacing the 74.3% jump in fuel costs. Key Points
FinancialexpressBoB Q4 loans rise 19%, deposits grow 15%
The bank’s total deposits, grew 15% YoY to Rs 12.03 trillion as of March end. Of the total, current account and savings account (CASA) deposits were at Rs 4.42 trillion. Key Points
FinancialexpressIDFC First Bank’s operating profit will continue to outpace loan book growth: V Vaidyanathan
IDFC First Bank's CEO, V Vaidyanathan, has said that the bank's operating profit will continue to outpace loan book growth. For the latest quarter, IDFC's loan book grew by 24%, with its net interest income, operating profit and pre-tax profit growing by 36%, 45% and 61%, respectively. Vaidyanathan also credited the bank's strong deposit growth, which he said was attributable to the brand's certain character and high quality customer service. Key Points
Economic TimesUS fourth quarter economic growth handily beats expectations
International Business News: The US economy grew faster than expected in the fourth quarter amid strong consumer spending, defying recession predictions. Gross domestic product in the last quarter increased at a 3.3% annualized rate. Find out more about the factors contributing to the economy's resilience. Key Points
Times Of India
India’s November manufacturing PMI rises to 56.0 from 55.5 in October
The findings were positive for Asia's third-largest economy, which grew a surprisingly strong 7.6% last quarter, slightly slower than the 7.8% growth seen in the April-June quarter but remaining on track to be the fastest growing major economy this fiscal year. Key Points
Business TodayIndia's Nykaa posts slowest revenue growth since listing amid stiff competition
FSN E-Commerce Ventures (FSNE.NS), parent of cosmetics-to-fashion retailer Nykaa, on Monday reported its slowest quarterly revenue growth since listing, hurt by stiff competition in its mainstay beauty and personal care (BPC) segment. Key Points
ReutersPop icon Pink reveals near-death experience from overdose at 16
I was a punk. I had a mouth. I had a chip on my shoulder. Basically, I grew up in a house where every day my parents were screaming at each other, throwing things, hated each other. And then I got into drugs. I was selling drugs. And then I was kicked out of the house. I dropped out of high school. I was off the rails, Pink said. Key Points
Economic TimesLiquor barons raise a toast to 7% growth in June quarter
Demand increased for all key segments of whisky, rum, gin and vodka, especially in the premium category, industry executives said citing latest excise department data. Brandy was the only exception and grew just 1% as the segment sales are historically skewed towards winter months. They expect faster growth in the second half of the calendar that typically accounts for a larger share of liquor sales due to festivals and weddings. Key Points
Economic TimesIndia's United Spirits posts Q1 profit jump on tumbling expenses, premium sales
India's United Spirits (UNSP.NS), which sells the Smirnoff brand of vodka and the Black Dog brand of whisky, reported a more-than-22% jump in Q1 profit on Thursday, as tumbling costs outpaced slowing demand and sales in its premium segment grew. Key Points
Reuters
Indian M&E sector will reach Rs. 2.83 trillion in 2025: FICCI
The sector grew by Rs. 348 billion to reach Rs. 2.1 trillion, a 10% growth in comparison to 2019 Key Points
FinancialexpressIndia’s auto parts makers’ H1FY24 sales up at ₹2.98 tn
Data released by Automotive Component Manufacturers Association of India (ACMA) showed exports of auto components grew marginally by 2.7% to $10.4 billion ( ₹85,870 crore), while imports rose 3.6% to $10.6 billion ( ₹87,420 crore). Key Points
mintImproving travel, wedding season likely to boost performance of hotel companies
The hospitality sector is expected to maintain strong performance in the latter half of the fiscal year, with a projected 15-20% growth in average revenue per available room (RevPAR). Factors contributing to optimism include the ongoing wedding season, with an estimated 38 lakh weddings generating significant business opportunities. Key Points
Economic TimesBajaj Finance Q4 new loan bookings up 20% YoY, AUM grows 29%
The new loans booked during March quarter grew by 20% to 7.6 million as compared to 6.3million in the corresponding quarter last fiscal. Key Points
mintMercadoLibre's third-quarter profit soars past expectations
Latin America's e-commerce behemoth MercadoLibre (MELI.O) reported on Wednesday a better-than-expected 178.2% surge in third-quarter net profit, compared with the previous year, after revenue grew across markets, especially in Brazil. Key Points
Reuters
UK economy stronger than estimates in 1st quarter: data
It is now thought that the UK economy grew by 1.8 % between the final quarter of 2019 -- or before the start of the Covid pandemic -- and the second quarter of this year, the ONS added Friday. It previously said the UK economy had shrunk slightly over the period. Key Points
Economic TimesIDFC First Bank Q4 net profit up 134% y-o-y to Rs 803 crore in Q4
As on March end, the bank’s gross non-performing asset ratio stood at 2.51%, lower than 3.70% a year ago. Key Points
FinancialexpressLIC's total premium for fiscal 2023 grew 17 per cent to Rs 2.32 trillion
New Delhi [India], April 24 (ANI): The total premium of Life Insurance Corporation of India (LIC) collected for fiscal 2022-23 grew 16.67 per cent to Rs 2.32 trillion from Rs 1.99 trillion. In terms of the sheer volume, no other company matches the insurance giant. In terms of premiums collected, it continues to hold a […] Key Points
ThePrintWhen FMCG giants pushed on with a cartful of troubles
Overall sales of apparel and electronic products have been languishing for over a year now, while those of mass-segment electronic products have been low since the pandemic outbreak. According to researcher GfK, there was a slight pick-up in mass segment during Diwali. Key Points
Economic TimesDouble-digit rise in top banks’ loans
While SBI’s advances rose 16% y-o-y to Rs 32.69 trillion as of March-end, HDFC Bank’s grew 17% to Rs 16 trillion. PNB’s total advances grew 13% y-o-y to Rs 8.84 trillion. Key Points
Financialexpress
Passenger vehicles industry to grow up to nine percent this fiscal, says ICRA
The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six percent year-on-year. Key Points
Economic TimesIndia’s factory employment crossed pre-pandemic level in FY22, investment also picked up pace
India's factory employment grew by 7% in FY22, surpassing the pre-COVID level, as per the Annual Survey of Industries. Investments and output also increased, indicating the country's recovery from the pandemic. The manufacturing sector showed resilience after the adverse effects of the pandemic, with a marginal fall in employment in 2020-21. Key Points
Economic TimesUK's new car sales up 9.5% in November as fleets snap up latest vehicles
International Business News: New car sales in Britain grew 9.5% YoY in November, nearing pre-pandemic levels as fleets invested in the latest vehicles. The Society of Motor Manufa Key Points
Times Of IndiaIndia's Alembic Pharma Q2 profit roughly in-line with estimates
India's Alembic Pharmaceuticals (ALEM.NS) on Tuesday reported second-quarter profit roughly in line with estimates, as higher sales in its domestic and overseas markets offset a jump in expenses. Key Points
ReutersAxis Bank Q2 net profit rises 10 pc to Rs 5,864 crore on higher interest income
New Delhi, Oct 25 (PTI) Private sector lender Axis Bank on Wednesday reported a 10 per cent increase in the September 2023 quarter net profit to Rs 5,864 crore on higher interest income. The lender had reported a net profit of Rs 5,330 crore in the year-ago period. The bank’s net interest income (NII) grew […] Key Points
ThePrint
JSW Infrastructure shares debut at 20% premium over IPO price
JSW Infrastructure has priced the issue in the range of Rs 113-119 per share. The IPO, which is entirely a fresh equity issue of Rs 2,800 crore, was subscribed 37 times at close. Key Points
Economic TimesBacking 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 TimesDelhivery Q1 Results: Net loss at ₹89.4 crore, revenue rises 10.5%
Delhivery Limited reports revenue of Rs. 1,930 Cr in Q1 FY24, up 11% YoY. Losses reduced and shipment volumes grew. Anindya Ghose appointed as independent director. Key Points
mintMotilal Oswal Q1 Results: Consol PAT soars 17x YoY to Rs 527 crore on all-round performance
Motilal Oswal Financial Services has posted strong financial results for Q1 2022, with net profit growing nearly 17 times YoY to INR527cr ($70.7m), up from INR31cr ($4.2m) YoY, and consolidated revenue from operations close to doubling to INR1,500cr ($201m). As a result, the board has approved the company's broking and distribution business Key Points
Economic TimesIndia's Mahindra Holidays posts 99% slump in Q1 profit as Europe losses weigh
Mahindra Holidays and Resorts India (MAHH.NS) reported a 99% slump in first-quarter profit on Tuesday, hit by higher expenses and widening losses in Europe. Key Points
Reuters
ICICI Bank Q1 Results: Profit jumps 40% YoY to Rs 9,648 crore, beats estimate
Its net interest income (NII) increased by 38% YoY to Rs 18,227 crore in Q1 while the net interest margin (NIM) was 4.78% in Q1 compared to 4.01% in Q1 of FY23 and 4.90% in Q4 of FY23. Key Points
Economic TimesDip in exports, looming deflation: Why China’s economy is in trouble
GDP likely grew 7.1% for the quarter on a year-over-year basis, up from 4.5% in the previous period, according to economists surveyed by Bloomberg. | World News Key Points
Hindustan TimesEyes on big screen: Indians buying TVs pricier than cars
In the first five months of the calendar year, while the overall TV category grew by 13% year on year, 65-inches and above TVs grew by 37%. These big screens now contribute 12% of the overall TV market in the country compared to 5% during pre-Covid times, according to GfK. Key Points
Economic TimesDBS Bank India reports 36 pc jump in FY23 net at Rs 228 cr
India Business News: Singaporean lender DBS' Indian subsidiary on Tuesday announced that its net profit grew 36.52 per cent to Rs 228 crore in FY23. The lender, among the Key Points
Times Of IndiaSundaram Finance Q4 standalone rises 6% to ₹316 cr.
Sundaram Finance Ltd., reported standalone net profit for the fourth-quarter ended March grew 6% year-on-year to ₹316 crore on improving asset quality and tight cost control. Key Points
The Hindu
Sun Pharma Q4 net profit at ₹1,984 crore
Sun Pharmaceutical Industries Ltd. reported that its fourth quarter consolidated net profit grew to ₹1,984.5 crore compared with net loss of ₹2,277.3 crore in the same period last year, due to improved performance. Key Points
The HinduPage Industries badly needs to script a new chapter on growth
In Q3, Page’s revenues grew by just 3% year-on-year. But in Q4, revenues have fallen by almost 13% to ₹969 crore with a 14.6% drop in volume. Key Points
mintSBI Q4 PAT up 83% to ₹16,695 crore, annual profit surged to ₹50,232 crore
State Bank of India (SBI) reported that its fourth quarter net profit grew 83.18% to ₹16,695 crore from the same quarter last year due to improvement in asset quality and credit growth. Key Points
The HinduSonata Software Q4 results: Net profit down 3.3% at ₹113.8 crore. Revenue dips 15.4%
Sonata Q4 results: IT company posted consolidated revenue of ₹1,913.5 crore, which is around 15.4% lower from its revenue of ₹2,260.8 crore in Q4FY23 Key Points
mintUK economy grows by 0.1% in first quarter of 2023
Output was 0.2% higher than a year earlier, the Office for National Statistics said. But GDP in March alone dropped 0.3%, compared with poll forecasts for it to hold steady. While industrial output and construction grew, the much larger services sector dropped 0.4%, reflecting weak car sales and retail, hurt by unusually rainy weather and high inflation. 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 HinduRane Engine Valve turns profitable in Q4
Rane Engine Valve Ltd., (REVL) has posted a standalone net profit of ₹4.9 crore for the quarter ended March against a loss of ₹0.01 crore in the year-earlier period on strong sales volume. Key Points
The HinduChina searches for signs of economic momentum
Official figures on Tuesday are expected to show gross domestic product grew 3.9% in the first quarter compared to a year prior, according to the median estimate in a Bloomberg survey of economists. While that would be an improvement on the 2.9% expansion recorded in the October to December, it's still below the official target for full-year growth of around 5%. Key Points
Economic TimesSPMs handling crude oil at state ports operating at 84 pc capacity
In the calendar year 2021, a total of 86.07 million metric tonnes of crude was handled, while in year 2022, it grew slightly by 1.2 percent to 87.1 million metric tonnes, the reply stated. Key Points
The Indian Express