Booking Financial News

Nifty50. The aggregate revenue of Nifty50 soared 9% YoY to an impressive Rs 11.38 lakh crore, accompanied by a robust 20% YoY surge in profits to Rs 1.50 lakh crore. The underlying strength of the Indian economy was further underscored by 36 out of 50 companies reporting growth in revenues, and 40 companies recording increased profits. The standout feature of this earnings season has been the expansion of margins by 694 basis points YoY, reaching a remarkable 30.14% for the quarter. This was propelled by the strategic benefit reaped from the decline in input costs.

Olectra Greentech. The stock, which was trading at ₹497 per share at the start of the year (2023), has witnessed an astounding surge of 141% to trade at the current level of ₹1,196.

World Cup final at the Narendra Modi Stadium. India and Australia are set to lock horns in the highly anticipated finale on Sunday former cricketers talked about the team that could potentially emerge victorious and go down in the history books as champion. Former skipper Sourav Ganguly who re-defined the standards of cricket believes that the key to success in the final lies in India playing the brand of cricket as they have in the entire tournament.

But first, let’s talk about career identity. Are you “in finance” or “in HR” or “in marketing?” We often get stuck in a mindset that what we trained for, or ended up in, defines us. Our work becomes our working identity. This would be all well and good if there was job security in it. However, this is far from the case these days.

China's growing influence across Central America. With the Chinese ambassador at his side, Bukele toured the seven-story building, erected at a cost of $54 million paid for by China. The building sprawls over 24,000 square meters (260,000 square feet), and contains gamer and robotics areas, interactive digital screens and both a digital library and shelves containing 360,000 books, the government said on Tuesday. A day later, the son of Nicaraguan President Daniel Ortega, Laureano Ortega, inspected 250 Chinese-made buses and thanked Beijing for the «special relationship» he asserted was lifting the nation out of poverty. «The new politics of the region has accelerated China's influence and put distance between the United States and Central America, from the leftist authoritarian Ortega regime to the right-wing authoritarian Bukele regime,» Evan Ellis, a researcher at the US Army War College Strategic Studies Institute, told AFP. Since Costa Rica switched diplomatic relations from Taipei to Beijing in 2007, China has steadily gained ground in Central America, establishing relations with Panama (2017), El Salvador (2018), Nicaragua (2021) and most recently Honduras earlier this year. «China's efforts in Central America have mostly been driven by an interest in isolating Taiwan,» Margaret Myers, a specialist in China and Latin America at the Inter-American Dialogue, told AFP. In Central America, only Guatemala and Belize are among the dwindling 13 nations that still maintain diplomatic ties with Taiwan, a self-governing island that China considers part of its territory.

Gold rate today: On account of diminishing expectations of the US Fed rate hike, gold price climbed to a new peak of ₹61,914 per 10 gm levels on Multi Commodity Exchange (MCX) in the week gone by. However, profit booking triggered on higher levels and finally MCX gold rate ended at ₹60,745 per 10 gm levels on Friday, logging weekly gain of 1.62 per cent.

World Cup final at Ahmedabad on Sunday. Bars and breweries are particularly excited, with some of them expecting sales to be double that of regular Sundays. Rakshay Dhariwal, founder of Pings Cafe Orient, a popular restaurant chain with outlets in Mumbai, Goa, Delhi, and Kolkata said: “Our restaurants screening the match are expecting to double their sales." Swadeep Popli, founder of Delhi-based brewery Flow, and The Chatter House said the two businesses saw great response during the semi-finals; they witnessed a 30% revenue boost.

Wolfe Research upgraded shares of Roblox (RBLX) to Peer Perform from Underperform in a note Friday following the company's Investor Day.

Hyundai in the near future, India Managing Director Unsoo Kim said, adding, the company expects nearly a fifth of its global sales to come in from the country in the next 2-3 years. Indian subsidiary Hyundai Motor India (HMIL) — which contributed 18.6% to global sales in the first half of the year — is looking at growing by 8.5-9% to post its best-ever sales of 600,000 units in the local market in the ongoing calendar year. Unsoo Kim, Managing Director, Hyundai Motor India Limited (HMIL) said, “I see the Indian market very positively.

World Cup special train for cricket-loving passengers to watch the Cricket World Cup final match to be played at Ahmedabad on Sunday between India and Australia at the Narendra Modi stadium. It will be a repeat of the 2003 World Cup final which a batting-heavy Australia won in a lopsided contest. Train no 01153 CSMT- Ahmedabad special express will leave CSMT at 10.30 pm on 18.11.2023 (Saturday) and will arrive in Ahmedabad at 06.40 am next day (Sunday).

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State Bank of India’s chairman Dinesh Kumar Khara on Friday said the Reserve Bank of India’s move on consumer loans would not affect the lender’s ability to grow. “I think overall, we are not really impacted as much in terms of our ability to grow and support the book which we have. But yes, of course, there could be certain other entities which might experience some kind of a pressure as far as supporting this kind of book is concerned,” Khara said in an interview with ET Now. The impact of the increased risk weight on personal loans, including credit cards, will be 55-60 bps, said the SBI chairman. Further, Khara said that SBI's capital adequacy ratio stood at 14.28% as of September end.

(This story originally appeared in on Nov 16, 2023)

Rohit Sharma-led Indian cricket team all set to face the Pat Cummins-led Australia on 19 November at Ahmedabad's Narendra Modi stadium for the high-adrenaline-filled ICC Men's World Cup final, hotel room tariff in Gujarat's Ahmedabad and airfares to the city have skyrocketed. According to a report by news agency PTI, the hotel room tariffs for the night of the match have gone up as high as ₹2 lakh in top five-star hotels in the city, while other hotels have also increased their rates by five to seven times.

Tata Investment Corporation rallied over 20% on Friday's trading session, touched to ₹3,909.90 per piece ahead of upcoming initial public offering (IPO) of Tata Technologies. Tata Investment shares opened ₹ 3,270 per share in the early morning trading on Friday, against previous close at ₹ 3,257 . Tata Technologies, which is all set to go public on November 22, is a subsidiary of Tata Motors in which Tata Investment is a promoter group entity.

A new rental apartment is an empty canvas which gives you the opportunity to personalise the space into something which reflects your unique style and personality. With festive vibe in the air, here’s a guide to help you turn your new rental apartment into a comfortable haven.

Reserve Bank of India on Thursday decided to increase the risk-weights on unsecured credit and bank loans to non-banking financial corporations (NBFCs). The increased risk-weight is applicable to outstanding as well as fresh loans, the central bank said. While credit growth for the overall banking system has remained stable and healthy, certain components of personal loans are, however, recording very high growth, RBI Governor Shaktikanta Das had said in his previous policy statement. Das further added that the central bank was closely monitoring for any signs of incipient stress. Thursday’s decision was, therefore, somewhat on expected lines. However, Dalal Street wasn’t very happy with the same and a kneejerk reaction was seen among NBFC stocks, with Bajaj Finance, One97 Communications, and SBI Cards and Payment Services shedding more than 2-5%. Let’s understand a little more about what the implications of RBI’s move could be on the business. What’s changed? The risk-weights on banks’ unsecured personal loans and consumer durable loans have been increased to 125% from 100%, and that on credit cards have been increased to 150% from 125%. Further, the risk-weights on NBFCs’ unsecured personal and consumer durables loans, and credit cards have been increased to 125% from 100%. The risk-weights on loans by banks to NBFCs has been hiked by 25 percentage points, if the risk-weight is below 100%.

Realty firm Brigade Enterprises has formed a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru that has an estimated sales value of Rs 2,100 crore. The 14-acre land parcel is located at Yelahanka in North Bengaluru. Brigade Enterprises Ltd has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million sq ft of residential project in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crore, the company said in a regulatory filing on Thursday. «We will create a wonderful residential development worthy of the marquee location. We anticipate the project to yield a revenue realisation of Rs 2,100 crore on completion,» Brigade Enterprises Ltd Managing Director Pavitra Shankar said. The company has been acquiring land outright and through JDAs to expand its business amid strong demand for residential properties. Last month, Brigade bought a 9.71-acre land parcel in Hyderabad for Rs 660 crore to expand its business. In August, Brigade Enterprises acquired a 6.54-acre land parcel in Chennai from Pfizer Healthcare India for nearly Rs 139 crore to develop a residential project. Recently, Brigade Enterprises has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year.

Allow yourself time to adapt: Take the necessary time to absorb your new financial situation and decide how you want to manage your money. Avoid feeling pressured to make hasty decisions. Seek advice from a trusted individual: Engage in conversations with a confidant, whether it’s a friend, family member, or financial advisor.

Mukul Agarwal portfolio: Shares of Gensol Engineering Ltd have been in consolidation phase after trading ex-bonus on 17th October 2023. The energy stock traded ex-bonus for finalising eligible shareholders for issuance of 2:1 bonus shares. This means, two bonus shares were issued for evey one share held by eligible beneficiaries.

Ashok Leyland Ltd. traded at Rs 173.95 on BSE at 12:58PM (IST) on Friday, down 0.26 per cent. The stock quoted a 52-week low price of Rs 133.1 and a high of Rs 191.45.