Mahindra Finance has signed a strategic co-lending agreement with the State Bank of India (SBI) to provide affordable credit solutions, especially in rural and semi-urban areas. Under the co-lending model, Mahindra Finance will originate and process loans as per the co-lending guidelines. SBI will provide funding of up to 80% of the loan amount, while […]
Leading telecom operator Bharti Airtel today reported its financial results for the second quarter ended September 30, 2023. The company posted healthy growth in revenues, profits and key operating metrics during the quarter. Bharti Airtel reported consolidated revenues of Rs 37,044 crore for Q2 FY2024, up 7.3% from Rs 34,527 crore in the same quarter […]
Marico Limited, one of India’s leading consumer goods companies, announced its results for the second quarter ended September 30, 2023. The company delivered a fairly resilient performance despite mixed demand trends and a challenging macro environment. Consolidated Revenue from Operations stood at ₹2,476 crore, registering a marginal decline of 1% year-on-year. This was led by […]
Mumbai-based Supreme Industries Limited, one of India’s leading manufacturers of plastic products, has reported robust growth in the second quarter of fiscal 2023-24. According to the company’s press release, Supreme Industries registered a 23% increase in plastic goods sold during Q2 FY24 to 137,763 MT, compared to 111,803 MT in Q2 FY23. Total income grew […]
Mumbai-based real estate developer Mahindra Lifespace Developers Ltd (MLDL) announced a mixed set of results for the second quarter of fiscal year 2023 on October 27th. The company reported consolidated total income of Rs 25.7 crore, down 65% from Rs 73.8 crore in Q2 FY2022 and 76% lower than Rs 110.1 crore in Q1 FY2023. […]
Dr. Reddy’s Laboratories Ltd (DRL) announced a decent set of numbers for the second quarter of fiscal year 2024, reflecting continued growth momentum for the Indian pharma major and improved numbers from the US. DRL reported total revenues of Rs 68,802 million in Q2 FY24, a growth of 9% over the same quarter last year. […]
Dixon Technologies, India’s largest electronics manufacturing services company, is making a decisive push into laptop and tablet manufacturing to capitalize on the massive market opportunity arising from the government’s increased impetus on domestic electronics production and import curbs on foreign brands. During its recent quarterly earnings call, Dixon Technologies stated that it has filed an […]
Even as the housing markets in major economies such as the US, China, the UK and Canada seem to have entered their worst phase in 15 years, things couldn’t be different in India. In the South Asian nation, housing demand never really recovered fully after the COVID-19 pandemic, but are starting to revive now. According […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
US Treasury yields have been climbing higher in recent weeks, with the benchmark 10-year yield surging to over 4.9% on Wednesday – its highest level since 2007. This relentless rise in bond yields reflects growing angst in financial markets about several key issues: the Federal Reserve’s monetary tightening path, stubbornly high inflation, bulging government borrowing […]
Brent crude oil prices have jumped above $90 per barrel, driven by heightened geopolitical tensions that threaten to disrupt global oil supplies, and this could rise further in coming months due to geopolitical developments, said a new report. This comes as the oil market was already heading into a large deficit in the fourth quarter […]
India has managed to buck the global inflationary tide so far, with wholesale prices declining for six straight months. But this deflationary trend could prove short-lived if crude oil prices see a sustained spike over the coming months, raising the stakes for the ruling party at the Center. With no end in sight to the […]
Nuvama Research has doubled its dividend estimate for National Mineral Development Corporation (NMDC) to Rs 15 per share for FY2024 citing the company’s strong free cash flow generation and robust balance sheet. In its latest research report, Nuvama estimates NMDC to generate free cash flow of INR 85 billion in FY2024 and INR 50 billion […]
To understand the Jewish-Palestinian fight, one has to travel back 3,000 years to the time of the Pharaohs and trace the long history of the Jewish people
The Election Commission of India today said it is ready and willing to act on the subject of increased disclosure related to funding of electoral promises. Chief Election Commission of India Rajiv Kumar made the announcement after declaring the dates for the upcoming state assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. Kumar […]
The Election Commission of India will announce the dates and time-table for elections into the legislative assemblies of five Indian states – Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram – at 12 noon today. These elections are significant because as they as seen as a semi-final before the national elections that will be held in […]
The Reserve Bank of India’s Monetary Policy Committee (MPC) unanimously decided to keep the benchmark repo rate unchanged at 6.5% while maintaining its stance of withdrawal of accommodation. In his statement, RBI Governor Shaktikanta Das emphasized that the global economy is experiencing a slowdown amidst tightening financial conditions, lingering geopolitical tensions and increasing fragmentation. However, […]
Recent Reserve Bank of India (RBI) data on a sharp fall in savings rate of Indian households during the last financial year has created a lot of controversy. Critics of the current government alleged that the sharp fall in savings rate to 5.1% of GDP — the lowest in 47 years and considerably lower than […]
Indian pharmaceutical company Panacea Biotec Ltd announced today that it has received notice of an arbitration proceeding initiated by Canadian firm Apotex Inc. The dispute relates to a 2014 collaboration agreement between the two companies for the development and supply of a pharmaceutical product aimed at the US market. Apotex has claimed damages of $118.14 […]
The central government’s steps to rein in rising food inflation through initiatives like weekly auctions of wheat and rice under the Open Market Sale Scheme (OMSS) met with lukewarm response for rice, even as wheat saw brisk off-take. In the 15th e-auction held on October 4, Food Corporate of India received bids for only 0.05 […]
