Booking Financial News

Edelweiss group chairman, Rashesh Shah, and the executives of ECL Finance Ltd Wednesday moved the Bombay High Court (HC) seeking quashing of the first information report (FIR) registered against them in the death by suicide case of art director, Nitin Desai. The HC will hear their plea on August 11. Senior counsel Amit Desai appeared before th HC for the applicants.

US bonds, booking profits in emerging markets (EMs) like India and repatriating some of their gains to the safety of the dollar. Their sharply reduced purchases of Indian equities so far this month correspond with a global equity selloff prompted by Fitch Ratings’ downgrade of the US sovereign rating which spurred rallies in Treasury yields and the dollar. Last week, Fitch Ratings cut the US’s sovereign credit grade one level to AA+ from AAA, two months after it warned the rating was under threat due to oft-repeated political standoffs on the debt ceiling.

Debt collections platform Credgenics has raised $50 million in a series B round of funding. Venture investors Westbridge Capital, Accel, Tanglin Ventures, and Beams Fintech Fund led the round, the company said in a release on Wednesday. Most of these investors had participated in its previous funding round in 2021.

Ircon International jumped 8% to Rs 107.6 in Wednesday's trade on BSE after the firm reported a 29.6% year-on-year (YoY) rise in its consolidated net profit at Rs 187.4 crore for the first quarter ended June 30, 2023. In the corresponding quarter last year, Ircon International had posted a net profit of Rs 144.6 crore on a topline of Rs 2,001.9 crore. The infrastructure company reported a 35.7% on-year rise in its consolidated revenue from operations during the quarter to Rs 2,712.2 crore.

Dipan Mehta, Director, Elixir Equities, says the next three to five quarters are very interesting for Siemens, ABB, and other high tech capital goods manufacturing companies. They have largely restructured their businesses. They are focused only on products and services where they have a clear cut technology edge.

IRCON International share price rallied over 8% to hit a record on Wednesday after the railway PSU reported strong growth in Q1 results. IRCON share price jumped as much as 8.12% to its all-time high of ₹107.80 apiece on the BSE. IRCON shares have witnessed a sharp upmove this year.

By Joanna Plucinska, Rajesh Kumar Singh, Doyinsola Oladipo and Priyamvada C

The otherwise buzzing tourist destinations in Shimla wears an abandoned look. Visitor footfall plunged after the erstwhile summer capital of British India and its adjoining areas were put on rain alert since the first weekend of July.Stakeholders in the tourism industry say booking cancellations have hit the industry hard due to flash floods, landslides, damage to roads and warnings by authorities.

Stocks that were in focus include names like Hindalco, which fell 2.12%, Dixon, which rose 3.6%, and Inox Wind, whose shares jumped 8.40% on Tuesday.Here's what Amol Athawale, Vice-President — Technical Research at Kotak Securities, recommends investors should do with these stocks when the market resumes trading today:Hindalco — BuyOn daily and weekly charts, the stock is consistently holding higher high and higher low series formation, which is largely positive. Currently, the stock is comfortably trading above short-term averages and the texture of the chart suggests uptrend formation is likely to continue in the near future. For the trend-following traders now, 20-day SMA ( Simple Moving Average ) or 449 would act as a key support level.

Australia will meet France in the quarter-finals of the Women’s World Cup after Les Bleues cruised past Morocco 4-0 at Hindmarsh Stadium in Adelaide.

Infosys was expected to pull ahead of Cognizant this year in the revenue sweepstakes, building on the 15% annual growth logged over past two years, but a pronounced tempering in sales guidance by India’s second-biggest software exporter will likely allow its Nasdaq-listed rival to widen the gap. While Infosys clocked $18.2 billion for the fiscal year-ended 2023,Cognizant reported a revenue of $19.4 billion for calendar year 2022. According to ET’s calculations, the New Jersey-based firm’s revenue for the comparable FY23 period too came in at $19.4 billion.

Check out the companies making headlines after hours.

Megan Fox, known for her roles in movies like Jennifer's Body, has revealed her upcoming book, ‘Pretty Boys Are Poisonous’, a collection of over 70 poems set to release on November 7. In a statement, Fox, who is 37 years old, said, «These poems were written in an attempt to excise the illness that had taken root in me because of my silence. I’ve spent my entire life keeping the secrets of men, my body aches from carrying the weight of their sins.» «My freedom lives in these pages, and I hope that my words can inspire others to take back their happiness and their identity by using their voice to illuminate what’s been buried, but not forgotten, in the darkness,» Fox added. Simon & Schuster, the publisher, lauds the book as a «powerful debut» and highlights the «heartbreaking and dark» nature of the poems. Fox's distinct sense of humor also finds its place within the collection. While pursuing her acting career, Fox has faced challenges, often feeling misunderstood and encountering sexism in the entertainment industry. She disclosed in an interview with InStyle that she had to develop a self-reliant mindset to overcome rejection and criticism. «I decided to prioritize taking care of myself because I knew I would continue to be an outsider,» she explained. Fox's life has seen shifts, including her separation from ex-husband Brian Austin Green in 2020 after a 16-year relationship and her current engagement to Machine Gun Kelly.

Tim Hortons’ global quarterly sales surpassed US$2 billion for the first time in its history, but the coffee chain’s parent company said its franchisees’ profits still aren’t good enough.

(Reuters) -Take-Two Interactive Software forecast second-quarter net bookings below Wall Street targets on Tuesday, in a sign that spending on games was under pressure amid persistent inflationary pressures.

fraud' accounts with 'wilful defaulters'. Senior bankers, who had discussed the suggestion over the last few weeks, arrived at the decision while preparing a standard operating procedure (SOP) for dealing with borrowers before declaring an account as a fraudulent one. The suggestion, made by chambers of commerce to the Reserve Bank of India, was referred to the banking industry body by the regulator.

ARY News has reported that the Supreme Court of Pakistan will resume the hearing of the murder case of a Senior Supreme Court lawyer Abdul Razzaq Shar against Pakistan Imran Khan on Wednesday. A three-member bench headed by Justice Yahya Afridi will resume the hearing.

As more U.S. banks cut back wealth management services for clients in Latin America, a Miami-based firm has been reaping the benefits.

Express. The £100 million deal between Netflix and Prince Harry and Meghan Markle is going to be the next big thing in the film world and may even breach the OTT platform to appear in theaters, the Express report added. Prince Harry and Meghan Markle know how to stay in the news and that is evident by the success of their previous docu-series on Netflix where they revealed very intricate details about the functioning of the UK Royal Family and their challenges while dealing with the unfavorable media attention.

Simon & Schuster has been sold to the private equity firm KKR, months after a federal judge blocked its purchase by rival publisher Penguin Random House because of concerns that competition would shrink the book market

₹40 to ₹42 per equity share and the Srivari Spices shares will be listed on the NSE SME exchange Friday, 18 August. Srivari Spices and Foods IPO plans to raise ₹9 crore and the total of 2,142,000 shares have been offered. The company plans to use the net proceeds to fund working capital requirements and meet general corporate expenses.