COST Financial News

Stock market today: Ahead of the NSE mainboard listing on 29th April 2024, multibagger BSE stock Balu Forge Industries witnessed strong buying in the early morning session. This buying bet in Balu Forge share price took place despite weak stock market bias on Friday.

Nestle India’s share price fell on Friday to the day’s low of Rs 2,511.60, dropping 2% after the company declared its Q4 results on Thursday. The standalone net profit rose 27% year-on-year (YoY) to Rs 934 crore for the March quarter as compared to Rs 737 crore a year ago.

IndusInd Bank shares fell 2% to Rs 1,469 in Friday's trade on BSE after the firm reported its March quarter results. Private sector lender reported a 15% year-on-year (YoY) jump in its March quarter net profit at Rs 2,347 crore, which was higher than the Street estimate of Rs 2,041 crore. Its net interest income or NII rose 13.9% to Rs 5,376 crore during the quarter.

By 2028, a Honda manufacturing plant in Alliston, Ont., should be ready to pump out 240,000 electric vehicles (EVs) every single year.

₹1309 per share. This significant uptick occurred despite the company reporting lackluster financial results. The company released its financial results for Q4 FY24 and the full fiscal year FY24 post-market hours on Thursday, falling short of street estimates.

Sandip Sabharwal, asksandipsabharwal.com, says the Axis Bank stock needs to get re-rated higher. It trades at 1.8 times book while most of the other large private sector banks are more near 2.7 to 3 times. It trades at valuations which are 35% cheaper than HDFC Bank while on most parameters it is doing maybe as well or better in terms of gross NPAs, net NPAs, provision coverage, return on equity across the board. Disadvantage Kotak is turning out to be advantage with good numbers from Axis and the entire PSB bank pack is also holding out very smartly. SBI had a solid 4.25% move, the smaller ones are holding out well. What is it that you have made of the RBI move on Kotak banning addition of credit cards as well as online accounts and Axis numbers as well?

Eternal gold bug Peter Schiff had a fierce warning for Bitcoin’s faithful on Wednesday, claiming the digital asset is on the verge of losing substantial and precarious technical price support.

Google is still striving to claw back its lead in AI. This is the current quarter in which the company has continued its focus on technical infrastructure by capital expensing $12 billion worth of investments. On a related note, CEO Sundar Pichai expressed confidence in managing costs and transitioning monetization strategies related to AI effectively, saying, "I am very, very confident we can manage the cost of how to serve these queries" and “comfortable and confident that we will be able to manage the monetization transition here well," as quoted by Bloomberg.

Microsoft has reported that its profit rose 20% for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive

After switching on support for bitcoin in 2014, Stripe ditched crypto, saying that crazy price fluctuations and higher fees rendered it as unusable as a form of payment. Speaking at the company's Global Internet Economy conference, president John Collison revealed: "We’re excited to announce that we’re bringing back crypto as a way to accept payments, but this time with a much better experience." Merchants will be able to accept stablecoin payments from this summer, although initially this will be restricted to Circle's USDC on the Solana, Ethereum and Polygon blockchains. Said Collinson: "Crypto is finding real utility.

A disappointing earnings report from Meta Platforms Inc. has technology investors on edge ahead of results from some of the stock market’s biggest and most important companies in the coming days.

Unilever said. «Skin cleansing was flat with a small increase in price, offset by the decline in volume. In Asia, we saw the impact of commodity cost deflation on the personal wash business in India and market challenges in Indonesia, which resulted in declines in Lux and Lifebuoy, both large brands in these geographies,» Fernando Fernandez, chief financial officer, Unilever, told analysts. The maker of Surf and Rin said its global home care grew 3.1%, but price growth fell 1.1%.

₹17,607 crore, comprising 5.3% of aggregate consolidated AUM as on 31 March, as against 6.7% in the same period last year. In fact, Bajaj Finance said that risk metrics across all businesses were stable except rural b2c. “Good quarter on AUM, customer acquisition, portfolio metrics, and operating efficiencies.

sell-off in big technology stocks on Wall Street, after the social media firm signaled its costly bet on artificial intelligence (AI) could take years to pay off. The drop was set to erase nearly $170 billion from the company's market value and triggered a fall of 3-4 per cent in shares of AI-focused Microsoft and Alphabet, both of which report earnings after market close.

Also read: Tata Steel CEO TV Narendran says UK job cuts ‘least bad option,’ will continue talks with unions Discussions will continue with the trade unions over the next two weeks on a potential Memorandum of Understanding on the future ambitions of the business and the impact of the restructuring on employees, the company further added. "Having looked carefully at all the options over the past seven months in consultation with union representatives, we have decided to proceed with our proposed restructuring and transition," Tata Steel managing director TV Narendran said.

husband has no control over his wife's 'stridhan' (woman's property) and while he may use it during the time of his distress, he has a moral obligation to return it to his wife, the Supreme Court has reiterated while directing a man to pay Rs 25 lakh to a woman in return for her lost gold. The woman in this case claimed that 89 sovereigns of gold were gifted to her by her family at the time of marriage. Additionally, after the wedding, her father gave a cheque for Rs 2 lakh to her husband. According to the woman, on the first night of their marriage, the husband took custody of all her jewellery and entrusted the same to his mother under the garb of safekeeping. She alleged that all the jewellery was misappropriated by the husband and his mother to discharge their pre-existing financial liabilities. The Family Court, in 2011, held that the husband and his mother had indeed misappropriated the appellant's gold jewellery and that she was entitled to recoup the loss caused to her by the said misappropriation.

wealth tax almost exceeded the income earned by an individual. The mindset was to levy very high rate of tax, and if anything was left after payment of these taxes that you wanted to inherit for future generations, the state would confiscate bulk of it by charging an estate duty. The approach was socialist, and the expectation was that the higher collection of taxes would lead to redistribution of income and wealth to the poor. Understandably, with a confiscatory tax regime of this nature, tax evasion was rampant, litigation all-pervasive, and wealth creation was elusive. The cost of tax administration for some of these taxes was found to be in excess of the taxes collected. Instead of disparity between the rich and poor decreasing, it only increased.

Kenneth Rogoff, former chief economist of the IMF, is Maurits C. Boas Chair of International Economics at Harvard University. Speaking to Srijana Mitra Das, he discusses the record rise in military expenditure worldwide: Q. Recent reports find global defence spending now amounts to $2443 billion — which economic areas does this impact most? A. While military spending does spin off some technology, by and large, it is not good for growth or consumption because it’s destructive. The United States and Europe are facing pressures today because of Ukraine, the Middle East and potentially Taiwan — but the defence budgets of the West are tuned to a different era. We had a peace dividend after the Berlin Wall fell in 1989 — now, things are going into reverse. This raises the pressure on debt and inflation.

Japanese automaker Honda is putting $15 billion into their Ontario operations with a new electric vehicle manufacturing plant in Alliston, Ont. with a joint $5 billion coming from the federal and Ontario governments.

Shares of Meta Platforms sank nearly 15 per cent on Thursday, sparking a selloff in big tech stocks after the social media giant signaled its costly bet on AI would take years to pay off.

Supporters of offshore wind energy projects in New Jersey and New York are trading blows with opponents in some shore towns who say vacationers and local residents don't want to see turbines filling the ocean horizon