COST Financial News

KSH Distriparks launches Pune’s first Domestic Container Storage Facility — the first-of-its-kind facility for ICD customers in the city. KSH Distriparks is Pune’s leading logistics service provider for container logistics solutions that offer a seamless transportation network, buffer yard solutions, ocean imports, bonded warehouse facilities, and DPD transportation services. The new cargo storage facility is built at their SOC 40`HQ in Pune and has introduced a unique value-added service — Container Leasing Solution.

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₹3,534.8 crore for the quarter ended June 2023, witnessing a sharp 74.8% jump from ₹2,022 crore in the same quarter last year. The public sector lender’s net interest income (NII), which is the difference between interest earned and interest expended, in Q1FY24 increased 27.7% to ₹8,665.7 crore as compared to ₹6,784.7 crore, YoY. Net Interest Margin (NIM) during the quarter under review was at 3.05% as against 3.07% in the previous quarter.

New Delhi: Prices of industrial materials have been on a decline for a while now, raising concerns for various sectors, but analysts foresee a potential rebound in the latter half of 2023, according to a report by S&P Global Market Intelligence. The Materials Price Index (MPI) compiled by S&P Global Market Intelligence reveals a 2.8% sequential decline in industrial materials prices during June . The second quarter of 2023 recorded a staggering 32% year-over-year (YoY) slump.

₹779.95 apiece on BSE, the stock hit an intraday high at ₹908.40 and low at ₹774.35. According to the company's exchange filing, its profit after tax (PAT) for the quarter ended in June of fiscal 2024 climbed 40.3% year over year (YoY) to ₹35 crores, and PAT margins increased by 77 basis points YoY to 4.2% in Q1 FY24. Operating Revenues jumped by 14.8% YoY to ₹8,23.4 crore in Q1 FY24 from ₹7,17.0 crore in Q1 FY23.

Its shareholders at twenty paces at West Australian gas play Talon Energy. Investors, Street Talk understands, are unhappy with the board, who they claim has failed to engage with Strike Energy over a proposal to consolidate the Walyering gas field development where they are joint venture partners.

₹199 per month, now costs ₹149. Similarly, the basic plan that allows access to all content on any one device is priced at ₹199 versus ₹499 earlier.

Swiggy will buy back shares worth over $50 million from more than 2,000 employees, which they had received as part of the food and grocery delivery company’s employee stock option plan (ESOP). This is Swiggy's second tranche of ESOP liquidity program.

Ethereal Machines, manufacturer of multi-axis Computer Numerical Control (CNC) machines, on Monday said it has raised $7.3 million in a funding round from various investors, including Peak XV’s Surge and Blume Ventures.Celesta Capital partner Ganapathy Subramaniam, former Blackstone India head Mathew Cyriac and executive chairman of Cadence Design Systems Lip-Bu Tan, along with Finvolve, 9Unicorns, Venture Catalysts and T2D3 Capital also participated in the round, as per a statement. Multi-axis machining machines operating with Computer Numerical Control (CNC) allow for motion in four or more directions. This helps in manufacturing of the precision parts that are used in the aerospace, defence, automobile and healthcare industries.

Wesfarmers’ Target is being folded into its discount stablemate Kmart, creating a singular $10 billion business with the aim of boosting returns as value offerings become more desirable to shoppers battling the rising cost of living.

Vedanta fell 3% to Rs 271 in Monday's trade on BSE after the company reported a consolidated net profit of Rs 2,640 crore for the quarter ended June, down about 40% from Rs 4,421 crore reported in the same quarter last year. Its revenue from operations fell 13% to Rs 33,342 crore for the first quarter as against Rs 38,251 crore. The fall in revenue was mainly due to a steep reduction in output commodity prices, partially offset by favourable movement in the exchange rate.

Spain's Vox party, with its ultra-nationalist bent, lost support among voters in Sunday's election, dashing its hopes to be a kingmaker and enter a governing coalition that would have given the far-right its first share of power in Spain since Francisco Franco's 20th century dictatorship. The mainstream conservative Popular Party won the election, but performed well below polling data that had forecast it could oust Socialist Prime Minister Pedro Sanchez if it formed a government with Vox as a junior partner. Even though Sanchez's Socialists finished second, they and their allied parties celebrated the outcome as a victory since their combined forces gained slightly more seats than the Popular Party and Vox.

Faversham, England | The world is full of sun-blessed places. And then there’s England, with a world-class reputation for being anything but.

₹apiece on the BSE. One 97 Communications, the parent company of Paytm, narrowed its consolidated net loss to ₹357 crore in the April-June 2024 period from ₹644 crore in the corresponding period last year.  However, the company’s net loss has widened when compared to a loss of ₹168 crore reported in the March quarter. Paytm’s revenue from operations during Q1FY24 rose 39.4% to ₹2,341 crore from ₹1,679 crore in the year-ago period.

ICICI Bank share price climbed over a per cent to hit its fresh 52-week high of ₹1,008 in morning trade on BSE on Monday (July 24) as most brokerage firms retained their positive views on the stock after its June quarter (Q1FY24) results. On Saturday, ICICI Bank reported a 39.7 per cent year-on-year (YoY) rise in its standalone net profit for Q1FY24 at ₹9,648 crore compared to ₹6,905 crore in the corresponding period last year. Its net interest income (NII) -or the difference between interest earned and interest paid, increased 38 per cent year-on-year to ₹18,227 crore in the first quarter of the current fiscal from ₹13,210 crore in the corresponding quarter last year.

Goldman Sachs Group Inc. wouldn’t even bother picking up phone calls from recruiters at smaller rivals. This year, managers at Jefferies Financial Group Inc., Evercore Inc.

Even as the Indian luxury homes segment is firing on all cylinders, affordable housing continues to languish due to pandemic-induced demand changes and various other factors. Both supply and demand for affordable housing are shrinking, according to latest ANAROCK Research data.

Rutgers University in central New Jersey is equipped to make more than 1 billion prescription pills a year. Its manufacturing process is faster, cheaper and more precise than traditional methods, potentially reducing reliance on factories abroad. The technology also can be used to make drugs currently in shortage, including cancer treatments.

China's central bank sold cash deposits at 2%, the lowest on record, pressured by reductions in deposit rates at commercial lenders and market expectations of more monetary easing. The People's Bank of China (PBOC) sold 60 billion yuan ($8.35 billion) worth of finance ministry one-month deposits 75 basis points lower than the previous auction in May.

Transport Corporation (KSRTC) for compensation in a British court, which ruled in their favour. The couple then tried to get the British court order executed in India but Justice HP Sandesh in his judgement on July 14 nullified it.

The Indian card landscape is set for a big change. Starting October 1, 2023, credit and debit card holders will be able to port their card network, a landmark decision that was announced by the Reserve Bank of India (RBI) recently via a draft circular. From a customers’ standpoint, this development is significant as it gives customers the freedom to choose a card network they prefer.