EXCLUDES COMPANIES
Bankruptcy court directs to restart Lavasa insolvency process, excludes delayed timeline
The Mumbai bench of the National Company Law Tribunal has allowed secured creditors to restart the Corporate Insolvency Resolution Process for Lavasa Corporation. The tribunal excluded a specific period from the resolution process and restored Shailesh Verma as the resolution professional, citing the failure of Darwin Platform Infrastructure Ltd to implement the approved resolution plan.
Voda Idea stock plunges after Goldman slashes target price
Goldman Sachs predicts Vodafone Idea's Rs 24,000 crore fundraise won't stop market share loss, slashing its target price by over 83%. The stock fell 10.80% to Rs 13.46 on Friday.
Joint shipbuilding projects at Indian shipyards to be explored at this week’s EEF
Russia aims to establish intermediate stops in Vietnam, Thailand, and Indonesia for the Eastern Maritime Corridor, linking Vladivostok with Chennai. This initiative seeks to enhance India's business ties with the resource-rich Far East. At the Eastern Economic Forum, Russia and India will also discuss joint shipbuilding projects. The corridor's implementation includes a trans-shipment hub in the Bay of Bengal and necessary infrastructure enhancements in Chennai for increased trade volume.
Emerging market equities excluding China can outperform over next 3 years: Matt Orton
We are finally seeing increased market breadth translate into increased price breadth and despite some of the heavyweight names being down in today's session, the overall market still held up okay and a lot of stocks did well.
Little talked but not little business: 7 stocks of companies which supply raw material to many industries with an upside potential of up to 40%
As one after another more sectors get tailwinds of higher economic growth, there are many small and medium size companies making a comeback. A comeback on the front of real business and not only the stock market. A number of them are not names which are heard on the street every day, just because of the fact that they don't deal in consumer facing goods. So a company making graphite electrodes , abrasive or supplier of electromineral will not come to mind when it comes to performers in this bull run. Though it is a different thing that these companies have given decent returns in the current bull run.
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
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Nestle replaces CEO Schneider with company veteran Freixe
Nestle has announced the replacement of its CEO Mark Schneider with Laurent Freixe, a company veteran, effective from Sept. 1. Schneider, who led the company for eight years, decided to step down amid recent sales challenges. Freixe plans to focus on core brands to drive growth, marking a shift in strategy.
SC resumes hearing on issue of LMV driving licence
The Supreme Court will continue its deliberation on whether individuals with light motor vehicle licences can legally drive transport vehicles weighing up to 7,500 kg. With the Motor Vehicles Act amendments still pending in Parliament, the five-judge bench, led by Chief Justice D Y Chandrachud, aims to address related insurance claim disputes.
Indian companies to spend $45-50 billion in capex over 1-2 years, RIL to lead: Moody's
The oil and gas sector and Reliance Industries will collectively account for over 60 per cent of the rated Indian portfolio's spending over the next couple of years, Moody's.
After a sober quarter, liquor companies hope for a Patiala high in second half
In India, the June quarter saw stable liquor demand with a decline in brandy and rum consumption. Despite a slight increase in whisky sales, the market faced supply chain disruptions due to elections and higher excise duties in Karnataka. Premium brands continued to show growth, boosted by younger consumers opting for higher-priced options.
Dr Reddy's Laboratories, TCS top stocks to buy post June quarter results: Siddhartha Khemka
The 1QFY25 corporate earnings report revealed both growth and challenges in India’s market. The Nifty50’s earnings rose 4% YoY, aided by companies like HDFC Bank and Tata Motors, despite setbacks from Oil Marketing Companies. The auto sector displayed strong volume growth, while IT services and healthcare sectors met expectations with promising future outlooks.
India outpaces major economies in growth of intangible investments
This growth underscores India's expanding role in global innovation and intellectual property. The report released by the World Intellectual Property Organisation (WIPO) marks the first time data on intangible investment is available for India.
Chinese company bans Dog Zodiac sign job applicants and you won't believe why
A company in China's Guangdong province, Sanxing Transportation, has sparked controversy by explicitly banning job applicants born in the Year of the Dog due to zodiac superstitions. The firm believes that candidates with this zodiac sign could bring bad luck to the company's boss, who is a Dragon, as these signs are considered incompatible in Chinese astrology. The policy has faced widespread criticism on social media, with many labeling it discriminatory.
Reinsurance burden likely to rise due to Bangladesh political unrest
Insurance companies may face higher reinsurance rates due to political unrest in Bangladesh. GIC Re MD Narayanan stated that increased SRCC events, notably in Israel and Iran, are driving these changes. This shift is causing insurers to review their pricing and coverage, particularly in high-risk regions.
Titan Q1 Results: Standalone net profit falls marginally YoY to Rs 770 crore, revenue rises by 9%
Titan Q1 Results: Titan's EBIT grew 9.1% to Rs 1,203 crore. The jewellery segment saw a 9% increase in total income, with India operations growing 8%. Watches & Wearables reported a 15% growth in total income, with the domestic business rising by 14%. Titan's EyeCare segment saw a 3% increase in total income, reaching Rs 209 crore, with an EBIT of Rs 20 crore and a 9.6% margin for Q1.
Q1 results today: ITC, Tata Motors among 88 companies will announce earnings on Thursday
Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.
Budget 2024 boosts India's diamond industry growth & export potential
The Union Budget for 2024-25 presented by Finance Minister Nirmala Sitharaman has been hailed by the Gem & Jewellery Export Promotion Council (GJEPC) for its significant measures aimed at bolstering India's position as a global leader in the diamond and jewellery sectors. The abolition of the equalisation levy on sales of rough diamonds and the introduction of safe harbour tax rules are expected to streamline operations and attract foreign mining companies to trade directly with Indian manufacturers.
Early birds report muted profit growth for April-June
The first-quarter results season shows double-digit revenue growth, but profit growth slows down. Banks and finance companies lead the way with strong performances. Stay updated as more companies announce their results in the coming weeks.
Changes in procurement norms: Imported items sourced locally excluded from local content calculation
The government has updated public procurement norms to prioritize companies using higher levels of local content in their products. Imported items sourced locally, royalties, and technical charges paid outside India will be excluded from the local content calculation. These changes aim to support the 'Make in India' initiative.
A Swiss company cheered up Kotak Mahindra Bank amid RBI's glare
Kotak Mahindra Bank's Q1 FY25 profit surged nearly 80% due to Zurich Insurance's acquisition of a 70% stake in Kotak General Insurance. The deal, completed in June 2024 for Rs 4,095.8 crore, added Rs 3,013 crore to the bank's consolidated profit. Kotak now holds a 30% stake in the insurance venture.
Shiv Sena (UBT) authorised to accept public donations: Election Commission
The Election Commission of India (ECI) has permitted Shiv Sena (UBT) to accept voluntary contributions from individuals and companies, excluding government entities. This decision aligns with the Representation of People Act, 1951, which regulates political party donations. The party can now receive unlimited contributions, potentially boosting its financial resources ahead of upcoming elections.
Alpha generators in the long term: 9 mid and small cap stocks from pharma and healthcare sector with an upside potential of up to 29%
While some make it to the headlines, some don't. Two sectors, healthcare and pharma have been witnessing more mergers and acquisitions than any other sector. There is a logical reason why private equity money is flowing in these sectors. Probably these two sectors are the ones with maximum potential to grow over the next decade or so. In the case of pharma, facts are well known, right from skilled manpower to lower manufacturing costs. In the case of healthcare, there are two things: first, medical tourism, second, soft exports of medical services. Not many may know, some of the best known doctors from India fly to CIS and other countries, where the healthcare companies have their OPD. Either the patient is treated there, if possible or else he is referred to India for treatment. While it might sound impossible, given the broken healthcare system which even some of the best developed countries have, in future, Indian healthcare companies taking over global hospitals may also become a reality.
India Playbook 2024 – Budget FY25 to focus on affordable housing
One big change in the final budget could be an increase in rural expenditure including higher spends on affordable housing. RBI’s extraordinary dividend of Rs 2.1 lakh crore and impressive tax collections give the government the power to increase expenditure and still stick to its prudent policy of lowering the fiscal deficit.
Telecom sector looking up: Should you invest in Airtel, Vodafone Idea, Reliance Jio stocks?
Recent tariff hikes, low spectrum payouts and government support will boost the performance of telecom stocks.
Q1 Earnings Preview: Flat to 4% growth in net profit expected from Nifty pack; auto, financials, health to outperform
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
Once rebuffed, a Chinese company finds the Ambani route to India
It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.
NCLT rejects housing society's plea to exclude land from HDIL's insolvency process
HDIL faces insolvency with liabilities exceeding Rs 8,138 crores, including debts to secured and unsecured financial creditors, and homeowners. The real estate sector contributes significantly to companies under CIRP, with about 15% witnessing revival post-resolution.
'Broadcasting policy must exclude OTT, online gaming and music': Stakeholders to TRAI
Media and entertainment industry stakeholders are urging the Telecom Regulatory Authority of India (TRAI) to confine its recommendations on the National Broadcasting Policy (NBP) solely to matters within the broadcasting sector. They advocate for the exclusion of non-broadcasting concerns such as OTT, online gaming, film, and music, citing that these areas fall outside TRAI's jurisdiction.
Norway excludes Adani Ports, US and Chinese cos from pension fund
Norges Bank said on Wednesday that it excluded the company because of an unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict. The other two companies blacklisted by Norges Bank include US-based L3Harris Technologies and China's Weichai Power.
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