Country Financial News

CarTrade Tech, a multi-channel auto platform provider, saw its share price skyrocket over 14% to hit a new 52-week high in today's trade following the company's Q2FY24 earnings announcement. The company on Thursday announced its Q2FY24 scorecard after market hours, reporting a net profit of ₹12.97 crore, a 130% jump from a net profit of ₹5.58 posted in the same period of last year.

Investing.com-- Most Asian stocks fell on Friday tracking hawkish signals on U.S. interest rates, while weak earnings from industry majors including  Softbank and SMIC weighed on broader technology stocks.

HANOI (Reuters) — Apple (NASDAQ:AAPL) supplier Luxshare Precision Industry Co has been awarded a license to invest an additional $330 million in its plant in Vietnam's northern province of Bac Giang, raising the total investment to $504 million, provincial authorities said.

BEIJING — Chinese business database Qichacha said Friday it passed a data export security assessment that allows the company to resume overseas operations.

Raamdeo Agrawal, Chairman, Motilal Oswal Group, says “there is a long-term trend to allocate more for defence, and these defence companies are monopolistic, though they are public sector. So there is a little bit of challenge but there are well-run public sector, monopolistic, high return on capital companies and all and their dividend policy is better than private sector’s. You have an opportunity there. But you have to be a little bit more careful where the action is. So, you have to decide company-wise.” This year our theme for Diwali is Yeh Diwali Muskaan Wali. Looking back, do you have a smile on your face on how the year has been? Yes, we have forgotten Covid because there is so much smile.

Canada, Melanie Joly, has said that she is in close contact with her Indian counterpart, S Jaishankar, adding that it is a difficult moment in relationship between the two nations that has spanned decades. Melanie Joly held a virtual news conference on Thursday to discuss her participation in the recent G7 foreign ministers' meeting, which took place in Tokyo. During the conference, Joly discussed Canada's diplomatic standoff with India, especially at a time when relations between the two countries remain strained. She said, «When it comes to India, I have mentioned it many times...I am in close contact with my counterpart, S Jaishankar, and we know this is a difficult moment in a relationship that spanned decades, so therefore I am confident that we will be able to get through this difficult period, as we know that we have many interests also that we can work together in common.» Highlighting the issue of 41 Canadian diplomats withdrawn from India, she stated that Canadian diplomats had to leave India because their immunities were taken back. «Of course we talk about our relationship within the Indo-Pacific with all our friends and like-minded...and of course...we are preoccupied by Induia's decision to get rid of the diplomatic immunities of 41 of our Canadian diplomats which put their safety at risk,» she said. «And, we are happy to see that there is clear language in the declaration (G7 declaration) reaffirming the importance of the Vienna Convention and the diplomatic immunities that are part of this,» she added. On being asked by the reporters if the dispute is settled now, the Canadian Foreign Minister added by saying, «Well, first and foremost, I have said it many times that Canadian diplomats had to leave

Narendra Modi on Friday extended greetings to the people on the occasion of Dhanteras, a ‘festival of health, happiness and prosperity’. He also wished for the determination of a developed India to get new energy. In a post on X (formerly Twitter), PM Modi said, “Many congratulations to all my family members of the country on Dhanteras, a festival symbolizing health, happiness and prosperity." “I wish that by the grace of Lord Dhanvantari, all of you always remain healthy, prosperous, and happy so that the determination of a developed India continues to get new energy," the Prime Minister wrote on the microblogging site.

IndiGo is gearing up to launch an electrifying air taxi service. India's leading airline is set to offer a cost-competitive solution. It will solve the perennial problem of urban traffic congestion.

Sunish Sharma, Managing Partner, Kedaara Capital, says: “I feel India is in a very good position. We feel very strongly about their position and that is why in the last one year, we have invested in six companies right from incremental investment in Lenskart, ASG, Oasis, Avanse, Oliva, Perfios and K-12. We have invested in a bunch of these companies. We believe this is a great time to start investing in India and be more aggressive in India.” On the global slowdown and PE & VCs vis-a-vis India Globally, there has been a slowdown and we are well aware of that. A little bit of that rub-off is happening in India. Having said that, today India is in a very strong position. This is driven by strong fundamentals where the underlying performance of the economy is good. You see a geopolitical position where India is in a very strong position and the youngest population and which is leading to a very strong consuming class. This is leading to India being in a strong position.

Vipul Shah, Chairman, Gem & Jewellery Exports Promotion Council (GJEPC). In an interaction with ET Digital, Shah says he is upbeat about the prospects of the gems & jewellery sector as the industry expects the ongoing festive month to give a sharp surge in demand.

An economic grouping that includes several ex-Soviet nations along with Afghanistan, Iran, Pakistan and Turkey has held a summit in Uzbekistan, and leaders of member countries have vowed to further expand trade and economic ties

Vedant Fashion, Jefferies has a hold rating on Nazara Technologies, CLSA maintained a buy on Zee Entertainment and Jefferies maintained an underperform rating on Piramal Enterprises. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on Vedant Fashion: Overweight| Target Rs 1418 Morgan Stanley maintained an overweight rating on Vedant Fashion at a target price of Rs 1418. The global investment bank believes that the share price will rise relative to the country index over the next 60 days. The global investment bank expects the company to deliver strong H2 top-line growth, aided by a higher number of wedding dates and festive season. The management has seen good traction in sales, footfalls, and conversions during the Navratri period. Analysis of credit card spend also indicates that festive spending is strong.

Oil prices were little changed on Friday after rising in the previous session but are set to fall for a third week as concerns of supply disruptions from the Israel-Hamas conflict have ebbed allowing demand worries to reassert themselves. Brent crude futures for January were flat at $80.01 a barrel at 0157 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $75.67, down 7 cents. Brent futures are down 5.7% this week while WTI has declined 5.9% since last week.

Iraq may have helped keep America from being dragged deeper into a widening Middle East conflict. The drone, which was launched at the Erbil air base by an Iranian-backed militia before sunrise on Oct. 26, penetrated U.S. air defenses and crashed into the second floor of the barracks housing American troops at about 5 a.m, according to two U.S.

chikungunya, a virus spread by infected mosquitoes that the Food and Drug Administration called «an emerging global health threat.» The vaccine, developed by Europe's Valneva which will be marketed under the name Ixchiq, was approved for people 18 and over who are at increased risk of exposure, the FDA said. Ixchiq's green-light by the US drug regulator is expected to speed the vaccine's rollout in countries where the virus is most prevalent. Chikungunya, which causes fever and severe joint pain, is generally seen in tropical and subtropical regions of Africa, southeast Asia and parts of the Americas. «However, chikungunya virus has spread to new geographical areas causing a rise in global prevalence of the disease,» the FDA said, reporting more than five million cases in the past 15 years. «Infection with chikungunya virus can lead to severe disease and prolonged health problems, particularly for older adults and individuals with underlying medical conditions,» senior FDA official Peter Marks said in a statement. «Today's approval addresses an unmet medical need and is an important advancement in the prevention of a potentially debilitating disease with limited treatment options.» Symptoms can sometimes last for months or even years, but the virus is rarely fatal.

US Secretary of Defense Lloyd Austin will join Blinken in talks with India's foreign minister S Jaishankar and defence minister Rajnath Singh. The annual dialogue is expected to focus on "defence and security cooperation", the report added. Overall, the discussions are expected to cover a range of issues, including the ongoing border dispute with China, Russia's invasion of Ukraine, and the challenge posed by the conflict in Gaza to key trade and transport routes linking Europe, the Middle East, and India.

how to regulate it. It started off with the US springing a surprise with Joe Biden’s executive order requiring AI majors to be more transparent and careful in their development. This was followed by the Global AI Summit convened by Rishi Sunak; attended by 28 countries (China included) and boasting the star power of Elon Musk, Demis Hassabis and Sam Altman, it led to a joint communique on regulating Frontier AI.

By Takaya Yamaguchi

Indo-Pacific region. The country said the US-India relationship is one of the most strategic and consequential of the 21st century, as per a fact sheet released by the US State Department. The fact sheet said the 2+2 Ministerial Dialogue between the US Secretaries of State and Defence and their Indian counterparts is the premier recurring dialogue mechanism between the United States and India. «Through the 2+2 mechanism, US and Indian officials advance a wide range of initiatives across the breadth of the United States-India partnership,» it said. US Secretary of State Antony Blinken on Friday arrived in New Delhi to co-chair the 5th India-US 2+2 Ministerial Dialogue. Ministry of External Affairs (MEA) Official Spokesperson Arindam Bagchi said Blinken's visit will give further boost to India-US Comprehensive Global Strategic Partnership. «A warm welcome to U.S.

India is considering a plan to allow surpluses in Special Rupee Vostro Accounts (SRVAs) to be invested in corporate bonds in order to give a push to international trade settlement in rupees. Under existing regulations, investment from SRVAs is restricted to government securities and treasury bills. «We have received some recommendations after deliberations with all stakeholders, including banks and trade bodies,» an official said.

India’s festival of light. Delhi is one of the world’s most polluted cities at the best of times, but in the days leading up to Sunday's Diwali festival the gloom is deepening.