COST Financial News

Rapido posted a 54% wider loss of Rs 675 crore in the financial year ended March 31, 2023, even as operating revenue tripled to Rs 443 crore. In FY22, the firm had incurred a loss of Rs 439 crore on operating revenue of Rs 145 crore, according to regulatory filings made by the company. Expenses almost doubled to Rs 1,172 crore in FY23, compared with the Rs 597 crore the previous year.

₹25 crore debt from Northern Arc Capital. Launched in 2017, Amit Gupta along with R. K.

Narendra Modi will be on a two-day visit to Andhra Pradesh and Kerala from Tuesday to launch several development projects worth more than ₹4,000 crore in Kochi, including the New Dry Dock and the International Ship Repair Facility at the Cochin Shipyard Limited. PM Modi will visit Sri Sathya Sai District in Andhra Pradesh on Tuesday and inaugurate the new campus of the National Academy of Customs, Indirect Taxes and Narcotics (NACIN), the PMO said in a release. On January 17, the prime minister will inaugurate important infrastructure projects related to the ports, shipping, and waterways sector in Kerala after visiting Guruvayur Temple and Thriprayar Shree Ramaswami Temple in the state.

Edited excerpts: I think we have clearly proven several things to ourselves that we could ride, first, the covid crisis, because it now looks like it is a distant memory. But for me, it was fresh because that was probably the first event in my life, where I did not know where we would head. The pleasant surprise was how quickly the Indian industry bounced back, and how well the economic conditions and the whole process of stabilizing was done, both by the Centre and the Reserve Bank of India.

By Tim Reid and Nathan Layne

iPhone 15, iPhone 14, Redmi Note 13 Pro+ and more. The newly launched Redmi Note 13 Pro+ (8GB RAM/256GB storage) is listed for a price of ₹31,999 on Flipkart during the ongoing Republic Day sale. However, the e-commerce giant is offering a ₹2,000 instant discount on making the payment through ICICI Bank cards.

SAN FRANCISCO — Wells Fargo & Co. announced that its fourth-quarter net income rose to $3.45 billion, marking an increase from the previous year's $3.16 billion. The bank, headquartered in San Francisco, also reported an adjusted earnings per share (EPS) of $1.29, surpassing EPS estimates. Despite the positive earnings report, the company's stock experienced a downturn, falling by 3.3% following the earnings announcement.

Federal Reserve poised to lead the charge for richer countries. Traders boosted bets on how aggressively the Fed will lower borrowing costs this year after a report showed prices paid to producers continued to fall in December. Even so, the path to taming inflation will be bumpy, as a measure of consumer prices rose by the most in three months. Similar metrics in Norway and Chile eased in December, while Argentina ended the year with inflation above 200%.

Delhi government's transport department has once again floated a tender for deploying electric scooters in the Dwarka sub-city to strengthen last-mile connectivity in the area, officials said. The government plans to deploy thousands of electric scooters at around 90 locations in Dwarka, they added. «Bids floated for high speed and low speed scooters for first and last mile connectivity with bus stops and metro stations in Dwarka sub city,» Delhi Transport Commissioner Ashish Kundra said in a post on 'X' on Thursday.

OnePlus has already confirmed that its flagship OnePlus 12 series will make its way to India and global markets on January 23. However, ahead of the launch of the much-anticipated smartphones, a new leak has shed some light on the pricing of the OnePlus 12. According to a post by tipster Ishan Agarwal on X (formerly Twitter), citing an Amazon listing, the OnePlus 12 12GB RAM/256GB storage variant could be priced at ₹69,999.

Dunki Box Office Collection Day 24: Shah Rukh Khan’s third and last Bollywood release in 2023, ‘Dunki’ was released on December 21 and ₹29.2 crore net marked its opening day collection. The film minted the lowest so far on its fourth Saturday, January 13. Dunki minted ₹223.27 crore net within 24 days at the Indian box office as per the latest estimates given by industry tracker Sacnilk.com.

Consumer goods companies are readying to step up their advertising and promotion expenditure in the next few quarters, aided by the improvement in gross margins in the past three-four quarters due to lower input costs. Fast-moving consumer goods (FMCG) companies such as Dabur, Marico and Godrej Consumer Products said in investor notes that advertising, promotion and category development spending had gone up in the December quarter and some said it will increase further in the next few quarters. This year is filled with events and companies will lap up the opportunity, said Parle Products' senior category head B Krishna Rao. «In the next 10 days advertising spending will go up for Ram Mandir, then Lok Sabha elections and multiple sport events such as IPL, T20 World Cup and Olympics. At the same time, spending will also be increased to try to improve demand,» he said. BNP Paribas said in a report this week that the gross margin improvement trend will continue due to lower input costs, but ad spends will also remain elevated.

Ram Temple consecration ceremony, the flight rates and hotel accommodation charges have skyrocketed. Data from travel portals like SOTC, Thomas Cook, EaseMyTrip and others show that people are will to pay even lakhs to attend the ceremony and seek the blessings of Ram Lalla. The "Pran Pratishtha" ceremony will be held on January 22.

Insured damages from natural catastrophes and severe weather in Canada topped $3 billion for the second year in a row.

CALGARY — The imminent completion of the Trans Mountain pipeline expansion is more likely following Friday’s decision by the Canada Energy Regulator to approve a request for a pipeline variance from the company building the project.

Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever. The company has lost more than $94 billion in market valuation in just the first two weeks of 2024.

₹6,045 per bbl, having swung between ₹6,007 and ₹6,236 per bbl during the session, against a previous close of ₹6,033 per barrel. -While the diversions by oil tankers were expected to push up the cost and time it take to transport oil, supplies have not yet been impacted, analysts and industry experts noted, easing some of the earlier gains in prices. Analysts said that if the conflict were to spread to the other side of the Arabian peninsula, oil markets may react much more significantly.

Maritime Institute of Technology instructor Capt. James Staples, who has personally responded to pirates, breaks down the Houthi Red Sea attacks on 'The Claman Countdown.'

Apple iPhone 15, originally priced at ₹79,900, Flipkart is offering an enticing 17% discount, bringing the cost down to ₹65,999. This translates to a whopping savings of ₹13,901. Additionally, customers can explore further savings through bank offers.

commerce ministry has called a high-level inter-ministerial meeting on January 17 to discuss the way forward on the trade front in the wake of ongoing problems in the Red Sea, a senior official said on Saturday. Senior officials from five ministries — external affairs, defence, shipping and finance (department of financial services) and commerce — will participate in the deliberations. The commerce ministry has also set up an internal strategic group, comprising additional secretaries of the ministry, to discuss global issues impacting the country's trade on a daily basis and prepare a strategy so that India's response can be quick and decisive.

Mivan construction. In this article, we will explore the intricacies of Mivan construction and compare it with the conventional Reinforced Concrete Construction (RCC) or brick construction, aiming to unravel which method stands out in terms of efficiency, cost-effectiveness, and sustainability. Understanding Mivan Construction: Mivan, short for 'Aluminum Formwork System,' is a modern construction technology that involves the use of aluminum alloy formworks for casting concrete.