COST Financial News

Sun Pharmaceutical on Thursday reported a nearly 2% year-on-year (YoY) drop in consolidated net profit for the quarter ended June 2023 to Rs 2,023 crore. Revenue from operations increased nearly 11% on year to Rs 11,941 crore.

Australia’s reigning cotton grower of the year sees a European Union crackdown on the textile industry’s carbon footprint as a money-making opportunity and is moving to build a renewable ammonia and green hydrogen plant on one of his farms with help from the NSW government.

Liontown Resources will start shipping unprocessed lithium ore to bring cash in sooner as it sticks to its timeline and $895 million budget for finishing the Kathleen Valley mine in West Australia.

Here’s what Macquarie’s small-cap analysts were talking to clients about on Thursday.

Also Read: SBFC Finance IPO: GMP, subscription status, should you apply or not? Shri Techtex IPO plans to raise ₹45-50 crore. The company plans to use the net proceeds from the offering to pay for the following projects, including building a factory shed, starting a solar farm, buying equipment, meeting working capital needs, serving general corporate objectives, and covering public offering costs.

₹4,400 crore, and a 4% sequential growth. Robust disbursements contributed to a substantial 28% YoY surge in business assets, totalling ₹88,100 crore. Furthermore, the company showcased stable asset quality metrics, as both Stage-3 and Stage-2 assets remained steady compared to June.

HDFC Securities in a report. “Hence, we’ve realigned our FY25/26 earnings per share estimates (-3% each) to account for higher customer acquisition costs," they added.

Godrej Properties Ltd. fell nearly 6% on Thursday on the National Stock Exchange. There are a couple of things that seem to be making investors nervous.

India's independence, the city residents are eagerly participating in the ‘Har Ghar Tiranga Abhiyan 2.0.’ The campaign allows people to purchase the national flag, measuring 20x30 inches, from their nearest post office for a nominal cost of Rs 25. This initiative aims to promote patriotism and national pride among citizens. To make the process more accessible, individuals can also order the tricolour online through the official website www.epostoffice.gov.in.

Shopify forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. Merchants and businesses are turning to Shopify, which offers tools to create and manage online store-fronts, as retail spending picks up on signs of stabilizing macroeconomic conditions. «We're not just shipping products faster, but we are also expanding our global merchant base,» said Harley Finkelstein, president at Shopify.

sustainable future, reshaping urban logistics through the adoption of electric vehicles (EVs) and innovative last-mile solutions has become imperative. These transformative measures not only mitigate environmental impact but also enhance efficiency and convenience.Transitioning to electric vehiclesWidespread adoption of electric vehicles is a key element in reshaping urban logistics. The advantages of EVs are evident in the reduction of air and noise pollution within cities. Furthermore, with advancements in battery technology, the electric vehicles now offer improved range and performance, making them increasingly viable for commercial use. The benefits of electric vehicles extend beyond environmental impact. According to a study by the International Council on Clean Transportation, electric delivery vehicles emit 40% fewer greenhouse gas emissions compared to their diesel counterparts. Furthermore, EVs have lower operational costs due to reduced maintenance requirements and the availability of cost-effective electricity compared to gasoline or diesel. Governments and organizations worldwide are introducing incentives, subsidies, and charging infrastructure to accelerate the transition to EVs, thereby fostering economic growth and job creation in the electric vehicle sector.

abortion pills, serving women from India to Mexico. The Washington DC-based nonprofit says it provides high-quality medicines, condoms and other reproductive health products at affordable prices. But almost one-fifth of the 30 million products DKT distributes annually for abortions and postpartum hemorrhage prevention come from an Indian company with a record of making substandard medicine.

Madhya Pradesh's Kuno National Park. In a status report submitted to the government recently, the experts said these attributes enable easier monitoring of health-related issues, simplify stress-free veterinary and management intervention, and enhance tourism value. Kuno, where two batches of cheetahs from Namibia and South Africa have been introduced, is set to open for tourism and these qualities in cheetahs can enhance the park's appeal to visitors, they said.

Analysts have given a mixed verdict, staying cautious on IPO with probable pressure on margins, profitability and rising risk of defaults. At the upper price band of Rs 57 per share, the stock is valued at 3x P/BV trailing FY23 book. «Considering the subdued ROE profile of the company as well as high post-issue adequacy of 50%, return ratios are expected to remain under pressure in coming years.

«What it has done, it has shone a light on the fiscal deficit position, which is true because I think if you are going to run a fiscal deficit of 6% in peacetime or economic expansion time, then that does not bode really well,» says Manish Singh, Crossbridge Capital.What do you think because there has been a bit of dismissal of the new ratings downgrade by the Biden administration as well, some have called it out-dated that it defies reality. Do you hold the same opinion as well?I do. I think the timing is just plain dubious because if anything, a lot of this thing has been sorted out over the last few months.

Fitch Ratings to downgrade US government credit has put a renewed focus on the nation’s debt trajectory, just when the world’s largest economy is shaking off forecasts for a looming recession. In the past week, Chairman Jerome Powell said the Federal Reserve is no longer expecting a US downturn, even after the most aggressive interest rate hikes in decades, and economists at Bank of America Corp. also scrapped their recession forecast.

Adani group news: Ambuja Cements Ltd (ACL), a flagship Adani Group company, today announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of ₹5,000 crore. ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

Adani group’s Ambuja-ACC has reached an agreement to acquire Sanghi Cements after deal negotiations moved forward over the course of the past one week and the Adani group companies proposed better acquisition terms and speedy deal closure, according to people aware of the matter. Ambuja-ACC and JK Lakshmi Cement are leading the race to acquire Ahmedabad-based Sanghi Cement, ET had first reported on 25 July. As per sources aware of the matter, Adani group has come close to the expected enterprise value of Rs.

Tesla has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi. The result could be an opening for Tesla to negotiate terms for an entry to the world's third-largest auto market without the competitive threat from BYD that it faces in other emerging markets, like Thailand. «The future of who wins in India will have some bearing on who wins globally in the EV race,» said Jasmeet Khurana of the World Economic Forum.

Cognizant's net profit fell 19% year on year in the second quarter to $463 million, dragged down by costs related to its 2-year «NextGen» restructuring programme announced last quarter. The company's revenue declined 0.4% year on year to $4.89 billion for the three-month period ending June. It was marginally above street estimates of $4.81 billion.

Tata Sons, the group holding company, invested an estimated ₹13,000 crore in Air India in FY23 through wholly owned subsidiary Talace, they added. This excludes the investment committed for 470 new aircraft ordered in June from Airbus and Boeing as the new owner embarks on the national carrier's transformation, which includes fleet renewal, a design refresh and upgraded services to compete with the likes of Emirates and Qatar Airways. Tata took over Air India in January 2022 after it was privatised.