COST Financial News

₹84.50 on Thursday trading session on BSE. The stock price in the last couple of months have given steady returns, according to analysts, and it is witnessing a multi-month breakout backed with volumes. Zomato shares opened at ₹77.80 apiece.

Headwinds like rising input cost, stagnant demand are becoming things of the past for the auto industry, the nifty auto index is doing well. Another reason for them doing well is the fact that after years of keeping it under wrap right from two wheeler to car maker and now even the LCV companies are gradually opening up their EV strategy.

Mazagon Dock Shipbuilders with France's Naval Group, the report added. The ageing fleet of India's Russian-made platforms, Moscow's inability to perform maintenance work, and delays in India's indigenous manufacturing plans for parallel platforms have necessitated the two new defence deals. Details on the deal value are not known yet, Reuters said.

By Marie Mannes, John O'Donnell and Chiara Elisei

Suumit Shah, the CEO of e-commerce startup Dukaan, faced huge flak online after a post of him replacing 90 per cent of his customer support team with an AI chatbot went viral on Twitter. Taking to Twitter on Tuesday, the entrepreneur revealed that he decided to prioritise prompt customer service and profitability over everything. He wrote that the use of AI tools reduced wait time from one minute, 44 seconds to instantaneous. Customer support costs were cut down by 85 per cent. “We had to lay off 90% of our support team because of this AI chatbot. Tough? Yes. Necessary? Absolutely,” the entrepreneur, while presenting his case, wrote on Twitter. He also wrote about how his team developed an AI chatbot named Lina which generated instant answers to customer queries and also curated customised answers for clients. In one sweep, he claims that Dukaan was able to remove communication bottlenecks such as delayed, generic responses and also cut down costs.. “200 live chats and ~1400 support tickets have been marked as 'resolved' by Lina. I literally started feeling like Edward Morra from the movie 'Limitless' is running the entire customer support of Dukaan by himself, seriously,” he wrote. The post went viral on Twitter, amassing two million views and 2,545 likes, and counting. However, it also generated much outrage across the Internet as was expected.

Answer:  In case of capital assets received under gifts the combined holding period for which the capital asset was held by the same would be counted from the date on which the previous owner who had actually acquired for consideration will be taken into account. Since the combined holding period of your and your father exceeds 24 months, the profits on the sale of the plot will be long-term capital gains.

₹135.50 against the previous close of ₹134.20 and fell 4.55 per cent to the intraday low of ₹128.10 in trade so far. The stock suffered losses in trade today ahead of its quarterly results even as brokerage firms expect the lender to report a healthy set of numbers for Q1FY24. Brokerage firm Kotak Institutional Equities expects the bank's net interest income (NII) growth at nearly 22 per cent year-on-year (YoY) with NIM (net interest margin) marginally lower quarter-on-quarter (QoQ).

Qantas saved about $80,000 in training costs for every pilot who missed out on a promotion when the airline last hired externally, but refused to compensate those who it wanted to pass over when it restarted operations after the pandemic.

The federal government is tipping $70 million into Origin Energy’s green hydrogen project in Newcastle, which would help cut emissions at Orica’s manufacturing operations in NSW while also providing carbon-free fuel for buses and heavy trucks.

Under pressure gold miner St Barbara delivered full-year production at the top end of its forecast range for 2023.

Gold rate today: Following US dollar index slide to 15-month low on easing US inflation, gold price today ascended in early morning deals in Asian and Indian markets. Gold future contract for August 2023 expiry on Multi Commodity Exchange (MCX), yellow metal opened higher at ₹59,230 per 10 gm levels and went on to hit intraday high of ₹59,288 per 10 gm within few minutes of commodity market's opening. In international market, oscillating around $1,955 per ounce levels.

The controversy began earlier this month, when a journalist shared a photo of his bill from PVR Noida, showcasing the exorbitant prices he paid for a regular-sized tub of cheese popcorn and a same-sized Pepsi. In his social media post, he highlighted how the cost of these snacks was nearly equivalent to an annual subscription of Amazon Prime, expressing concern over the affordability of movie outings with family. “Rs 460 for 55 gm of cheese popcorn, Rs 360 for 600 ml of Pepsi.

" If you look at the numbers, they are a small miss for TCS and HCL Technologies. But the companies again, both the companies are trading at close to their multiples so HCL Tech probably about 17 times, TCS slightly higher," says Chakri Lokapriya, CIO & MD, TCG AMCHow do you think the Street would read all this commentary and the performance? How much of a slam dunk or do you think there would be willing takers for IT stocks on declines? If you look at the numbers, they are a small miss for TCS and HCL Technologies. But the companies again, both the companies are trading at close to their multiples so HCL Tech probably about 17 times, TCS slightly higher.

Wipro announces its Q1 earnings after market hours, investors are expecting the Bengaluru-based IT major to report report revenue decline of 2% quarter-on-quarter (QoQ) in constant currency (CC) terms — at the mid points of its guidance range of 1-3% QoQcc degrowth. All this despite June being a seasonally strong quarter and 30 bps cross-currency tailwinds. «We attribute the decline to broader weakness in financial services and high exposure to consulting services.

Wipro, the fourth largest Indian IT services company, is set to announce its earnings for the first quarter of fiscal 2024. The IT major is widely expected to report a weak quarter in line with the industry peers, witnessing a sequential decline in revenue and operating margin.

Tata Consultancy Services (TCS) reported a higher-than-estimated June quarter profit on Wednesday, shares of IT major rose over 1%, making it one of the best Sensex performers in Thursday's early trade. While foreign brokerage Nomura maintained a ‘Reduce’ rating on the stock, Motilal Oswal and Nuvama retained their ‘Buy’ stance on the counter. The technology major reported a nearly 17% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 11,074 crore.

BSE-S0003051" data-name="Tata Consultancy Services">Tata Consultancy Services (TCS) Ltd., experienced its weakest fiscal year start since becoming public in 2004. Prior to Q1FY24, Mint noted that TCS's worst growth at the beginning of the fiscal year occurred in the first quarter of 2008, when the global financial crisis caused bank instability and ultimately harmed IT services companies like TCS, which increased its sequential revenue by 0.5%. On Thursday's trading session, TCS share price opened at ₹3,276 apiece on BSE.  On Wednesday, IT major announced a consolidated net profit (attributable to the company's shareholders) of ₹11,074 crore for the first quarter of the current fiscal year that ended in June (Q1FY24), representing an increase of 16.84% on a year-over-year basis.In the same period last year, the company generated a profit of ₹9, 478 crore.

Gold prices held steady on Thursday after advancing more than 1% in the previous session, as U.S. inflation data raised hopes that the Federal Reserve would soon stop tightening its monetary policy. * Spot gold was almost unchanged at $1,957.48 per ounce by 0039 GMT.

Walt Disney's board on Wednesday extended Chief Executive Officer Robert Iger's contract by two years as the experienced leader who came out of retirement in 2022 battles long-term challenges to its film and television businesses. The board said in a statement that it aimed to maintain «continuity of leadership during the company's ongoing transformation.» Iger returned to Disney as CEO in November 2022, less than a year after he retired, vowing to stay for two more years to restore the business while seeking a more durable replacement after the company pushed out Bob Chapek, Iger's hand-picked successor. «There is more to accomplish before this transformative work is complete,» Iger said in a statement, adding that the board was continuing to interview internal and external CEO candidates.

GST exemption on medicines for rare diseases announced on Tuesday is unlikely to provide any relief for those who are in dire need of treatment, health activists told ET. According to them, these drugs are exorbitantly priced and the share of patients who can afford to import them is negligible. Finance minister Nirmala Sitharaman on Tuesday announced GST Council decision to exempt cancer-fighting drugs, medicines for rare diseases, and food products for special medical purposes from GST tax.

Investing.com — President Joe Biden will likely see to it that America’s heavily-drawn oil reserve is refilled although he might require another term of office to finish the task, Energy Secretary Jennifer Granholm said Wednesday.