COST Financial News

Wipro is estimated to report a consolidated net profit of ₹2,746 crore Q4FY24, registering a muted growth of 1.92% from ₹2,694.2 crore in Q3FY24. The company’s IT services revenue is expected to see a sequential growth of 0.18% to $2,661 million from $2,656 million, while in rupee terms, the revenue may fall by 0.28% to ₹22,141 crore from ₹22,205.1 crore, quarter-on-quarter (QoQ), due to macro impact and continued softness in verticals, as per average estimates of five brokerages.

Didn’t President Biden promise a better trade policy than his predecessor? Well, he now appears to be in a race with Donald Trump to be Protectionist in Chief. Witness his pitch for new tariffs at a campaign stop on Wednesday in Pittsburgh. Speaking at United Steelworkers headquarters—where else?—Mr.

Sabyasachi Majumdar, Senior Director, CARE Ratings, the power sector is expected to have ample availability of electricity from thermal, gas, wind, and solar sources. The assurance lies in the willingness of distribution companies to pay for the power they receive. The current season is particularly favorable for wind and solar power generation. Unlike the supply constraints seen in CY21 and CY22, the upcoming year is anticipated to have a sufficient supply of electricity without absolute constraints. This positive outlook is a welcome change for the energy sector. Give us a sense as to what the overall outlook for the sector and the country as a whole given that we understand that peak power demand is expected to hit 260 megawatts this summer. Are we prepared for it? Sabyasachi Majumdar: We have a peak demand of 260 gigawatts. On the supply side, we have close to 250 gigawatts of thermal capacity which includes both coal as well as gas. In addition, we have about 17 gigawatts of capacity, about seven to eight gigawatts of nuclear and about 10 gigawatts of biomass and cogen and these are all capable of running as baseload stations.

₹375, implying 23% upside. The brokerage highlighted that, despite the company's late entry, it has grown to become a significant player in the safety control cables (SCC) and aluminium light-weighting components (ALP) for the two-wheeler segment, where its market share is rising.

Financial steps can often be as unpredictable as the monsoon rains. For Mayank Aggarwal, a young professional working in the IT sector, managing his finances was a constant juggling act. However, a recent setback led him to ponder over a critical question: Is taking a personal loan a wise choice to settle his delayed credit card bills?

Just Dial shares surged over 8% in early trading on April 18, following the company’s announcement of its results for the January to March 2024 quarter.

Investing in real estate is a significant financial decision that requires careful consideration and planning. One of the key dilemmas faced by potential investors is choosing between purchasing a plot of land or buying an apartment. Both options offer unique advantages and challenges, and understanding the nuances of each can help investors make well-informed decisions aligned with their personal finance goals.

Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and interest rates higher on a scale not seen in decades. The International Monetary Fund on Tuesday described an "adverse scenario" in which an escalation of conflict in the Middle East would lead to a 15% jump in oil prices and higher shipping costs that would hike global inflation by about 0.7 percentage points.

sustainability fast and businesses are adopting green practices to reduce their operations’ negative impact on the environment. Sustainable practices generally refer to green operations, which are all about integration of environmentally friendly practices into business operations. While sustainability is here to stay and grow, implementing green technologies such as eco-friendly infrastructure may require a high upfront capital investment. Are green practices only for businesses with deep pockets? TVS Motor Company is of the view that while some green initiatives may require initial investments, these investments should not be seen as expenses, but as building blocks for a future-proof business. “Shifting to renewable energy like solar power offers greater price stability compared to the unpredictable fluctuations of fossil fuels. Our investments in green initiatives, such as bio-reserves and CSR projects, contribute to a healthier environment and stronger communities. Collaboration with our supply chain partners on sustainable practices fosters a more resilient and efficient ecosystem,” it says, explaining how the focus on sustainability translates into long-term gains.

Hyundai Motors India was ordered by the National Consumer Disputes Redressal Commission (NCDRC) to pay Rs 15.1 lakh to Sukhjinder Singh, an owner of a Hyundai Verna car. This judgement came after Hyundai Motors India failed to rectify the car's problem and instead decided to fight against the legal order to replace the car's engine, in various consumer forums for almost 10 years. This long legal fight, was ultimately lost by Hyundai Motor India, in which the commission concluded that the manufacturer needed to replace the car's engine. However, considering the time taken for this fight to conclude, NCDRC ordered Hyundai Motors India to refund the car's purchase price plus accumulated interest to Singh. «In the present case, the car was purchased on 17.08.2011. As on date, over 13 years in its usable life have already lapsed. Even if the engine is replaced today, its utilisation is for a very limited time and the Complainant will not be able to benefit from the investment he made. This situation emerged due to non-compliance of the order of the District forum by Hyundai Motor India LTD on 17.06.2016 to replace the engine of the car,» said NCDRC at the case's hearing.

Q4 results 2024: After the announcement of Tata Consultancy Services or TCS results for Q4FY24, the market is eagerly waiting for the other Indian IT company's results for the recently ended March 2024 quarter. According to stock market experts, Infosys management may deliver a 'modest' guidance for the the financial year 2024-25.

Hugh Grant accepted “an enormous sum of money" to settle a lawsuit accusing The Sun tabloid of unlawfully tapping his phone, bugging his car and breaking into his home to snoop on him, the actor said Wednesday after the agreement was announced in court. Grant said he reluctantly settled because of a court policy that could have stuck him with a huge legal bill even if he prevailed at trial — a reality that could also force fellow claimant Prince Harry to settle, their lawyer said.

₹985 in morning trade on BSE on Thursday, April 18, a day after the company reported its March quarter result. Just Dial share price opened nearly 7 per cent higher at ₹953.55 against its previous close of ₹894.00 and surged as much as 10.4 per cent to hit its fresh 52-week high of ₹986.70 on BSE. Around 9:25 am, Just Dial traded 8.44 per cent higher at ₹969.45 apiece while the benchmark Sensex was 0.37 per cent up at ₹73,214.72.

An unsavory combination of factors is spoiling the risk appetite of equity investors, leading to profit booking at new highs. In the past week, benchmark indices Nifty50 and the S&P BSE Sensex have declined over 2% each. During the same time, the fear gauge, Nifty volatility index (VIX), has risen 11%, indicating discomfort among stock market participants.

A new study by Experian has highlighted significant financial knowledge gaps among Americans, particularly younger generations, that are contributing to costly errors.

laying off an undisclosed number of employees as the technology giant cracks down on costs, a company spokesperson said as reported by Reuters. According to the Google spokesperson, the layoffs are not company-wide. The impacted staff will have the chance to seek for internal roles, the spokeswoman added.

The full impact of the Reserve Bank of India's (RBI) increase in risk weights on consumer credit for banks and NBFCs, which was announced in November last year, is also likely to be felt this quarter impacting profitability and growth for small-ticket loans for personal consumption.

RBI) draft norms around stricter Know Your Customer (KYC) rules for payment aggregators could slow the onboarding of online merchants by as much as 90%, industry insiders said. The new rules will be applicable to existing players across online payment platforms, such as Razorpay, Cashfree, and PayU, card payment companies, such as Pine Labs, Innoviti Payments, and MSwipe, and QR code deployers, such as PhonePe, BharatPe and Google Pay.

commission on sales, besides shelling out on advertising and discounting on the apps. This is in stark contrast to the 10-20% commission that large, more established, FMCG companies pay quick-commerce companies like Blinkit, Zepto and Swiggy Instamart, reflecting the intense competition for visibility on these platforms.

Canadian Prime Minister Justin Trudeau is imposing higher taxes on the wealthiest Canadians as part of the federal government

A new study says climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heat-trapping gases taking the biggest monetary hit