BASF Financial News

(Reuters) — U.S. liquefied natural gas (LNG) company Cheniere Energy (NYSE:LNG) on Thursday forecast a lower core profit for 2024 as prices of the fuel buckle under excess supply, sending its shares down 1.7% premarket.

Asian Paints, Titan, Airtel, Power Grid, Divi's Labs, Tata Power, Torrent Power, Info Edge, Swiggy, SBI, ITC, Trent, Britannia, LIC, M&M, NHPC, Oil India among others. Here's what to look forward to on the earnings front:

Subscribe to enjoy similar stories. NEW DELHI : Greenko founders-backed AM Green has partnered with global logistics giant DP World to establish advanced logistics and storage infrastructure in India and overseas, aiming to accelerate exports of green hydrogen and green ammonia.

A Jersey Shore environmental group says damage from decades of toxic waste dumping at one of America's most notorious pollution sites caused $1 billion worth of damages

Quant Small Cap Fund, the largest fund managed by Quant Mutual Fund, has increased its stake in around 13 stocks in its portfolio in October. On the other hand, the fund has reduced its stake in only two stocks in the same period.

Indian markets experienced a marginal recovery from the uncertainties arising from concerns about the unwinding of carry trades, driven by the Yen's rapid appreciation and weak macroeconomic data that fuelled recession fears in the US. However, indices closed the week in red, losing over 1% each. During the week, only 30 smallcap companies offered double-digit returns with Century Enka the top gainer (35%), followed by Authum Investment (34.19%), Symphony (33.53%), and Garware Hi-Tech (26%).

Sectorally, buying was seen in capital goods, oil & gas, and telecom while selling was seen in metal, healthcare, banks and FMCG stocks.

On the BSE, Retro Green Revoluti(down 18.93 per cent), CMI FPE(down 13.18 per cent), Nutech Global(down 12.32 per cent), Regency Investments(down 10.24 per cent) and Ashirwad Steels(down 9.98 per cent) stood among the top losers in today's trade.

Domestic benchmark index NSE Nifty ended 113.8 points up at 22217.85, while the BSE Sensex closed 328.48 points up at 73104.61.

Q4 Results Today: Bharti Airtel, Siemens, Colgate-Palmolive (India), BASF India, Apollo Tyres, and PVR Inox, among 97 companies expected to post their earnings on May 14 for the fourth quarter that ended on March 31, 2024. On May 13, the benchmark indices continued their upward trajectory.

If you’ve ever spotted cars with chameleon, chrome-like finishes, patterns such as stripes and camouflage, or just an off-beat pink or lime green, you’ve likely seen a vinyl wrap

Germany's businesses remain mired in pessimism despite a small uptick in the latest survey, as Europe’s largest economy struggles with shortages of skilled labor, slower global trade, and political squabbling

Volkswagen is reviewing the future of its joint venture in the Xinjiang region of northwestern China and another German industrial giant is starting to sell its stakes there following new international scrutiny of forced labor by predominantly Muslim ethnic groups. Volkswagen said last week that it was in discussions with one of its main joint venture partners in China, the state-owned Shanghai Automotive Industry Corp., in the wake of allegations of human rights violations at their joint venture in Xinjiang.

German chemical company BASF says it's speeding up the sale of stakes in two joint ventures in China after its local partner was accused in media reports of human rights abuses

Spacetech startup Bellatrix Aerospace on Thursday said it will start commercialising its proprietary propulsion systems that help satellites generate the thrust for a transfer and stabilisation into orbit. The company achieved a significant milestone with the launch of its propulsion systems – Rudra and Arka – on board the national space agency’s PSLV C-58 launch vehicle on January 1. This gives the company its first space qualification.

Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.

Read here: Nifty 50 valuations are rich, offer 8-10% upside in 2024, says HDFC Securities; lists out stocks to accumulate next year Margin benefits for commodity consuming sectors due to deflation in commodity prices are largely done, so any growth hereon must be volume led, it said. The Retail Research at HDFC Securities has included Advanced Enzyme Technologies and Swaraj Engines in their fundamental picks and expects the stocks to give decent returns in two-to-three quarters. HDFC Securities forecasts revenue, EBITDA and PAT CAGR of 13.5%, 21% and 22% over FY23-25E for Advanced Enzyme Technologies which would be led by strong growth across all segments.

Vishal Thakkar, Deputy CFO, Anupam Rasayan, says “there has been a bit of a blip for a few quarters. We might see it for a quarter or two more and then we should be back on the growth path, that is what I think we are seeing as an industry. For Anupam also, we have been fairly flattish to little on the upside as far as growth is concerned. Probably, this quarter also will be kind of similar and in Q4 of this financial year, we should start seeing the growth back in our journey as well.” What is your overall outlook on the chemical sector as a whole because I understand there are some concerns right now with respect to destocking that could end soon. There has been high competition due to the recovery in China and the China oversupply impacting a lot of branded and generic sales. Can you give us a round up? The industry has been seeing a bit of headwinds, especially regarding the destocking issue. Yes, the channels had a little bit more inventory than what the market was comfortable with and the industry is unwinding it and that is pushing the demand for the backstream guys a little further for a few quarters. China is coming in and that also is increasing the market supply and reducing the demand for the industry.

By Ankika Biswas and Bansari Mayur Kamdar

European shares struggled for traction after the latest economic data highlighted Germany’s struggle to recover from an energy-induced downturn last winter and the mounting impact of higher borrowing costs.

For the past seven years, the 55-year-old has run the Chinese unit of fan and motor maker ebm-papst, and business has been good. But, as tensions simmer between Berlin and Beijing, ebm-papst is one of many medium-sized German companies starting to address their reliance on China, concerned at how possible Western sanctions or a future conflict over Taiwan might disrupt trade. Last year, ebm-papst launched a programme called 'Decoupling China' to ensure its Chinese division — which has around 1,900 staff — can operate if cut off from the rest of the company.