Booking Financial News

HSBC has filed a contempt of court case against the Central government, alleging non-compliance with the Bombay High Court's ruling concerning a service tax refund. The Bombay High Court had earlier ruled in favour of HSBC in a service tax dispute and asked the tax department to refund the service tax. HSBC has alleged that the government has not complied with the court order. HSBC had got its books and records audited for the period March 2007 to 2012.

ODIGEO, a Spanish online travel booking company, revealed that Taylor Swift's devoted fanbase, known as 'Swifties,' is driving a significant surge in air travel demand across Europe during her 'Eras' tour scheduled between May and August. For instance, the demand for flights to Stockholm during May 17-19, coinciding with Taylor Swift's performance dates, has increased six-fold compared to the same period last year, according to eDreams. Similarly, the demand for flights to Warsaw, Edinburgh, Liverpool, and Paris in the days surrounding Swift's concerts has surged by 339%, 176%, 133%, and 108%, respectively.

Ram Mandir consecration ceremony on January 22 in Ayodhya, hotels are either sold out or available at very high rate. Noting the trend, EaseMyTrip had earlier informed, “Leading up to the inauguration, Ayodhya's hotels are fully booked, enabling them to leverage increased pricing. Occupancy rates have risen from 80% to 100%, resulting in substantial price hikes, reaching up to ₹70,000 per night in select hotels." People in the Luxury category can look for options like Park Inn by Radisson Ayodhya, The Ramayana, Cygnett Collection KK Hotel, Royal Heritage Hotel And Resort and Clarks Inn Express.

₹ 3,605.7, hit on Monday. On Tuesday, L&T said that its construction arm has bagged a “mega" order, valued between ₹ 10,000 crore and ₹ 15,000 crore for constructing a high-speed electrification system for the Mumbai-Ahmedabad bullet train project. This significant domestic contract is expected to bolster L&T’s order book and revenue stream.

Market highlights: Sensex sheds 200 pts, Nifty near 22,050 at close; IT, realty down Even though analysts have been warning about uncertainty on interest rate trajectory due to inflation being higher than central banks' targets, the market is already considering the possibility of rate cuts this year. Some analysts suggest that if rate cuts happen, they might not be significant but rather modest. The domestic market spent most of the day in negative territory on Tuesday, but it experienced a brief upswing during the session, propelling the benchmarks to achieve new record highs.

SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew. The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, 2023 from 2.14 billion rupees a year ago. The company, which makes pipes for the energy, transportation and water sectors, said its order book for iron & steel pipes rose to $1.49 billion from $1.32 billion a year ago. «Higher exports, improved volumes and range-bound raw material prices have contributed towards margin improvement,» the company said in a statement. Exports accounted for over 35% of its order book, which analysts said helped offset the effect of falling domestic steel prices, as global prices remained elevated. Its UAE-based unit recorded an order book of $135 million.

₹11 lakh. Since its initial introduction in 2015, the Creta has amassed a customer base exceeding 9.80 lakh in nearly nine years. Despite facing strong competition in the mid-size SUV segment, the Creta has consistently maintained its leadership position.

Parakramsinh Jadeja, CMD, Jyoti CNC Automation, says “out of the IPO proceeds, we are going to pay close to Rs 475 crore on debt and after that will have less than 0.25% debt to equity ratio and in the next two to three years, we are looking to be a debt-free company. In terms of new capex, our plant has been put up over there. We do not need to invest much over here and then that kind of a total four phase we do, we do not need extra space to be there.” Your company is the third largest CNC manufacturer and it has seen its fair shares of ups and downs as well. After suffering a setback in FY21-22, you have turned the corner in FY23 now and turned profitable as well. What led to this turnaround and what is the outlook now going forward? Is the profitability you think sustainable going forward? Parakramsinh Jadeja: we have a robust order book and in terms of a percentage also if you look at the past, first half numbers are grooming up there.

Info Edge (India) Ltd. traded at Rs 5206.15 on BSE at 02:06PM (IST) on Tuesday, down 2.52 per cent. The stock quoted a 52-week low price of Rs 3310.0 and a high of Rs 5332.8.

Jyoti CNC Automation jumped nearly 13% after a decent debut on the exchanges on Tuesday. The stock was last trading at Rs 418 apiece, up 27% over the issue price of Rs 331. The premium listing was in line with expectations, which can be attributed to the company's market leadership and a substantial presence in the global CNC machine manufacturing market. The focal points in the company's business model are its client base, healthy margins and a proxy play on the defense sector.

Federal Bank on Tuesday reported its highest-ever standalone net profit at Rs 1,007 crore for the quarter ended December, up 25% from Rs 804 crore reported by the private lender in the year-ago period. Sequentially it was up 5.5% versus Rs 954 crore reported in Q2FY24. The private lender also reported its highest-ever net interest income (NII) at Rs 2,123 crore.

President Mohamed Muizzu requested the removal of Indian military personnel from the island nation by March 15, 2024. In a post on X (formerly Twitter), Pitti claimed some users accused his company of instigating the India-Maldives standoff. "Here is a brief history: Nov 2023, President of Maldives won election on plank of "India Out" campaign.

the growth of Indian railways is imminent. India needs to up its game and increase the daily train numbers substantially to meet the surging demand in the travel sector. The Indian Railways is gearing up for a massive investment of ₹1 trillion (tn) in acquiring new trains in response to this rise in demand.

Jyoti CNC Automation share price made a strong debut on Tuesday, listing with gains of 11.78% higher than the issue price of ₹331 on the NSE. It further rose to ₹426.40 levels during the morning trades. On BSE, Jyoti CNC Automation share price was listed at ₹372 apiece, up 12.39% than the issue price.

Also Read: Medi Assist Healthcare Services IPO: Issue subscribed 54% on day 1; GMP sharply drops On day 1, Medi Assist Healthcare Services IPO's retail investors portion was subscribed 89%, Non Institutional Investors (NII) portion was subscribed 45%, and Qualified Institutional Buyers (QIB) portion is yet to be booked. Medi Assist Healthcare Services IPO raised ₹351.47 crore on Friday, January 12, allotting 84,08,449 equity shares to 35 anchor investors.

Vinay Jaising, MD, JM Financial Services, says “we are still a lot more comfortable in a lot of mid and smallcap names wherein we are seeing earnings visibility leading to earnings growth drivers. If earlier you had an EPS of a company which was X and that is going up by 20 to 25%, your new PE may not be as high as what you are expecting. So for us, it is all about bottom-up fishing and looking at stocks where valuations are not expensive. Is valuation becoming a bit of an issue now for your stock picking process because I am sure the flows are good and plus your existing portfolio would also be expanding due to market going higher? How are you dealing with the challenge of rising valuations? Vinay Jaising: As you put it, valuations are close to peak for many stocks. People say largecap valuations are a little cheaper than what they were in the past or on a relative basis, you know, probably cheaper. If I would take the Nifty50 and take the seven largecap stocks which grew, I would say, at much lower rates last year of 7-8%, rest of the 43 stocks grew by over 30%. So valuations all over are an issue.

UP RERA) on Monday started pre-hearing scrutiny of complaints, in a move aimed at quick disposal of cases. UP RERA has an e-courts system for filing of complaints by the homebuyers and the promoters. It issued revised standard operating procedures (SOP) on December 2, 2023 for filing, scrutiny and hearing of complaints and conciliation. In doing so, UP RERA not only simplified the process of filing of complaints, but made it more comprehensive also, it said in a statement.

Central Bureau of Investigation is likely to soon conclude its arguments in a special court over framing of charges against former railways minister Lalu Prasad, his wife and former Bihar CM Rabri Devi and son and current deputy CM Tejashwi Yadav among others in the IRCTC case, said people in the know. The federal agency has commenced its arguments almost seven years after it booked Lalu Prasad and others on corruption charges. «The endeavour is to conclude the arguments this month so that the trial can be kick-started at the earliest,» said a senior official. The special CBI court has said that the hearing needed to be «expedited» and «adjournments are to be avoided».

1. Getting free VIP passes to Ram Mandir? A message promising users one's free-VIP entry into the Ayodhya Ram temple is doing round on WhatsApp. VHP spokesperson Vinod Bansal shared a screenshot of a WhatsApp message that came with an "apk" file (Android Package) attached to it - named as Ram Janmabhoomi Grihsampark Abhiyan.apk".

Winter storms and cinema closures in North America didn’t dampen the opening weekend for “Mean Girls.”

Jawa Motorcycles, aiming to strengthen its position in the mid-capacity segment in India, has launched the updated Jawa 350 with a starting price of Rs 2.14 lakh, ex-showroom. This means that the roadster's sticker price has increased by Rs 12,000. The most significant change in this model is the larger 334 cc, single-cylinder, liquid-cooled engine, which produces 22.5 hp and 28.2 Nm of peak torque. This engine replaces the 294 cc unit found in the previous version. The updated engine is accompanied by a six-speed gearbox and features an assist and slipper clutch for improved performance and smoother gear shifts. It is worth noting that while the peak torque has slightly increased by 1 Nm, the peak power of 22.5 hp is 4.8 hp lower than the previous 294 cc motor.