COST Financial News

JK Paper on Monday reported an 18.3 per cent increase in its net profit to Rs 312.56 crore in the June quarter. The company had posted a net profit of Rs 264.23 crore during the same quarter a year ago, JK Paper Ltd said in a regulatory filing.

Tata Motors is likely to report strong financial performance in the quarter ended June 2023 led by improving margins and healthy sales in its luxury arm Jaguar and Land Rover (JLR).  Tata Motors Q1 net profit is expected to be at ₹2,600 crore as compared to a loss of ₹5,731 crore in the same quarter of the previous year, as per average analysts estimates. The company’s consolidated revenue in Q1FY24 is expected to see a growth of around 43% to ₹1,03,284 crore driven by strength in JLR.

DLF to outperform while also maintaining an outperform rating on Tata Steel. Morgan Stanley retained its overweight rating on PNB Housing and Nomura has a buy rating on ITC post the demerger. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:CLSA on DLF: Outperform| Target Rs 547CLSA downgraded DLF to outperform with a target of Rs 547.

₹65,427 crore, operating profit (EBITDA) of ₹23,944 crore, and net profit of ₹18,753 crore. It has several related business segments and some unrelated ones. The FMCG division, which includes cigarettes and other products, contributes 61% of the topline.

All over Singapore, bright yellow containers have started popping up in unassuming places – at the airport, in a park and in front of a shopping mall. Inside them, people are breaking a sweat.

Gold prices struggled for direction in early Asian trading on Tuesday as traders braced for a widely anticipated rate hike along with monetary policy clues from the U.S. Federal Reserve over the next two days.FUNDAMENTALS * Spot gold rose 0.2% to $1,958.20 per ounce by 0119 GMT, while U.S. gold futures fell 0.1% to $1,959.90.

Investing.com-- Gold prices edged lower on Tuesday, extending losses into a fourth straight session as markets hunkered down before a Federal Reserve meeting this week, while copper saw some strength as focus remained on Chinese stimulus measures.

«I think a lot of market participants were anticipating this part of the news and therefore I think once the news is probably out we are seeing some element of profit booking happening on that counter,» says Mayuresh Joshi, William O'Neil India.Just want to discuss ITC with you and how is it that you are looking at the hotels demerger news? It was well known in the market, we reported it as well that something like this was in the offing and now the way the Street is actually reacting to this particular news almost like a sell on news kind of story? Absolutely. I think a lot of market participants were anticipating this part of the news and therefore I think once the news is probably out we are seeing some element of profit booking happening on that counter.

IDBI Bank's net profit rose 62% year-on-year to ₹1,224 crore in the quarter ended June 30, 2023, on the back of strong growth in interest income even as the bank stepped up provisions for bad loans. The lender's net profit stood at ₹756 crore in the corresponding quarter of the previous year.

Home prices are again on the rise after a brief dip last year, complicating the Federal Reserve's effort to contain inflation and raising questions about how much further policymakers will have to hike interest rates. Demand for homes around the country continues to outpace supply, despite a rapid rise in borrowing costs spurred by the US central bank.

By Nia Williams

PARIS (Reuters) — Luxury giant LVMH unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event.

Tesla (NASDAQ:TSLA) opened new financing options on their website and is now offering EV customers 84-month term limits in an attempt to lower monthly costs amidst rising interest rates and market pressure. The previous maximum term offered was 72-months.

Edited excerpts: What’s your view on JSW Steel’s Q1 performance amid challenges posed by declining steel prices and rising coal costs? In Q1, JSW Steel did fairly well. Higher coal costs seen in February-March came into cost structure during Q1. Coking coal prices rose by $11 a tonne over Q4, and we were able to mitigate that through a better blend.

₹468 crore, up 46% from ₹321 crore a year earlier. K. Gopala Desikan, chief financial officer, TVS Motor, said a combination of factors aided the impressive performance.

Ambuja-ACC and JK Lakshmi Cement are ahead in the race to acquire Ahmedabad-based Sanghi Cement which is being sold for an estimated enterprise value of Rs 6,000 crore, people familiar with the matter said. The two frontrunners are expected to start due diligence on the company soon and, if it is satisfactory, place formal offers over the next two months, they said.Shree Cement, Nirma Group and Dalmia Bharat had also submitted proposals to acquire a controlling stake in Sanghi Cement company, but are no longer in the running, the people said. Sanghi Cement is controlled by the family of Ravi Sanghi, promoters of Sanghi Industries.

rural job guarantee scheme, with 58% of the budgeted Rs 60,000 crore for 2023-24 used up in the first quarter itself, an official indicated. Almost steady work demand and up to 10.4% hike in wage rates under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have kept expenditure under the programme elevated, the official told ET on condition of anonymity. Person-day work generation in the crucial June quarter eased marginally to 1.11 billion from 1.14 billion a year before, but its impact was more than offset by the wage increase, he said.

Mumbai: Struggling edtech platform Byju’s and its lenders have reached a consensus on restructuring its $1.2 billion term loan B. According to a joint statement by Byju’s and its lenders, the proposed amendment, that will be effective before 3 August, seeks to address loan acceleration, end all litigation, and prevent any further enforcement actions. A person in the know, seeking anonymity, said Byju’s is willing to revise the coupon, or interest payment, upwards in line with the lenders’ demands.

₹633.95 crore. The figure, however, marked a 63% fall from the March quarter. Tata Steel said its profitability was hit by non-cash deferred tax charge on account of a buy-in transaction at the British Steel Pension Scheme (BSPS).

Bheed or Gumraah, which were purchased as part of package deals, but didn’t deliver results. Everyone is being choosy, and realises that they don’t need more content than they require.

Functionality is a key feature. Being seen with an Apple iPhone 14 Pro Max costing ₹1.9 lakh also provides features considered 'worth the value'. But a product's 'luxury quotient' alone can be enough for an increasing number of consumers.