Recent stock market trends have drawn eerie comparisons to the period leading up to the infamous 1929 crash that triggered the Great Depression. The chart above overlays the S&P 500’s performance from January to October 1929 against its trajectory from January 2023 to February 2024, and the similarities are striking enough to give even the […]
Rising costs of daily items — including that of smartphone data — is impacting the rural customer’s ability to purchase packaged goods such as hair oil and skin creams, analysts from Centrum Broking said after interacting with the management of Emami Ltd, the Indian consumer goods company with the highest exposure to the rural market. […]
Electronic manufacturing major Dixon Technologies announced firm plans to diversify into laptop and tablet manufacturing, eyeing commencement of production in the second half of 2024. The Noida-based company has finalized partnerships with global brands including Lenovo and Asus for local assembly of their laptop models in India. “The new contracts for notebooks, laptops that we […]
Noida-based Dixon Technologies, one of the leading domestic contract manufacturers, expressed strong confidence in quadrupling its business over the next 4-5 years, indicating an expected growth rate of 35-40% annually. During the company’s Q3FY24 earnings call, Managing Director Atul Lall responded to a question on how Dixon views the future growth potential with its strengthened […]
Paytm Payments Bank Ltd (PPBL) has reconstituted its board of directors by appointing four new independent directors, days after regulatory action by the Reserve Bank of India (RBI). The new appointments come weeks after the RBI barred PPBL from onboarding new customers and directed it to stop taking fresh deposits from existing customers over violations […]
As Kolkata-based retailer Spencer’s Retail charts its recovery, the company has turned its attention to aggressively expanding its presence in select regional strongholds. After rationalizing its pan-India store network over the past few quarters, Spencer’s has now outlined detailed plans to zone in on three key geographical clusters for growth – Eastern UP, West Bengal, […]
India is again seeing an outbreak of farmer protests over demands for minimum support prices for farmers. Many economists and experts have called MSPs an outdated mechanism to provide pricing and income support to farmers and protect them from sharp fluctuations in the market. We examine the experiences and lessons learnt by other countries that […]
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]
Mumbai-based Flair Writing Industries Limited (FWIL), one of the leading players in the writing instruments industry, reported a muted third quarter, blaming disruptions in some of its export markets for the decline in revenue and profit. For the third quarter ended December, the company posted consolidated revenues of Rs. 225 crores, down 3% year-on-year. Net […]
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today reported strong financial results for the third quarter ended December 31, 2023. Hero MotoCorp has been recovering well after pandemic-related disruptions. After decline in sales in 2020 and 2021 due to COVID-19, the company witnessed recovery in 2022 selling over 50 lakh units. Healthy […]
IT solutions provider Black Box Limited announced robust growth in profitability during the Oct-Dec quarter on the back of higher efficiencies. In Q3 FY2024, revenue was flat at Rs 1,655 crores compared to the same quarter last year amid an overall slowdown in IT. On a quarterly basis, revenue grew by 5%. For the nine […]
Biocon Ltd today announced that the U.S. Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) for the company’s Biologics License Application (BLA) seeking approval for its proposed biosimilar bevacizumab. Bevacizumab is an anti-cancer drug used to treat various types of cancers. Biocon has developed a biosimilar version of bevacizumab under the […]
Key Highlights of RBI’s Latest Monetary Policy: Reserve Bank of India (RBI) Governor Shaktikanta Das today indicated that the central bank may have reached the end of the current rate hike cycle after leaving the key policy rate unchanged in a split decision following the Monetary Policy Committee meeting. However, he stressed that policymakers need […]
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation. This decision comes after an aggressive rate hike cycle that started in May 2022 in response to high inflation. The rate increase cycle was first paused in […]
Kansai Nerolac Paints Ltd (KNPL) today reported strong growth on several fronts during the Oct-Dec quarter despite a challenging economic environment, including slow demand from rural areas. Net revenue for the quarter rose 5.7% year-on-year to Rs 1,814.9 crores. EBIDTA jumped 27.3% to Rs 239.9 crores while profit after tax surged 40.4% to Rs 157.6 […]
Leading forged products supplier Ramkrishna Forgings Limited has announced that it has won a significant $13.16 million (Rs 109.2 crore) contract from a major North American axle manufacturer. The 4-year contract entails supplying rear axle components and services for the off-highway sector. Ramkrishna Forgings emerged as the preferred supplier after a competitive bidding process thanks […]
Som Distilleries & Breweries Ltd is gearing up for major expansion of its business, riding the consumption boom in beer in India with its Woodpecker and Hunter brands. In keeping with its ambitious targets, the company reported robust 67% year-on-year volume growth in its beer portfolio during the third quarter of FY2024. Total beer sales […]
Som Distilleries and Breweries Limited, a leading manufacturer of beer and spirits in India, announced impressive 51% year-over-year volume growth in the state of Karnataka for the current financial year so far. Som Distilleries, established in 1993 and headquartered in New Delhi, produces popular beer brands like Hunter, Black Fort, and Power Cool. The company […]
VA Tech WABAG, a leading Indian water technology company, has announced that it has secured an order worth $33.5 million (Rs 270 crore) for designing and building an industrial wastewater treatment plant at the Ras Tanura Refinery in Saudi Arabia. The order has been awarded by SEPCO III Electric Power Construction Corporation to provide engineering […]
RailTel Corporation of India Ltd has announced that it has received a work order worth Rs 124.90 crore for the implementation of unified communication infrastructure across the Western Railway zone. The project includes setting up IPMPLS LAN infrastructure, VOIP telephone exchanges, IP-based signaling and control communication systems. It also involves the replacement of existing UTN […]
