Cycling Financial News

Retail sales rose 0.4% last month after an unrevised 0.1% gain in August, the Commerce Department's Census Bureau said on Thursday. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, would rise 0.3%. Estimates ranged from no change to an increase of 0.8%.

Subscribe to enjoy similar stories. I am often confronted by my data-loving friends with the question: “How can you trust just a feeling or go with anecdotal demonstration of an idea?" They are experts in their respective fields, trained to analyse data with precision, and use it as the bedrock of their decision-making processes. As a statistician myself, I understand their reliance on data.

total contract value (TCV) into revenue, said Nitin Rakesh, CEO and MD of Mphasis, in an exclusive interaction with ET following its Q2 earnings. Driven by a recovery in revenue growth, Mphasis reported a 4.6% sequential rise in net profit to ₹423.3 crore for the September quarter. On a year-on-year (YoY) basis, net profit was up by 8%. The company’s revenue for the same period grew 3.3% quarter-on-quarter (QoQ) and 7.9% YoY to ₹3,536.1 crore. The Bengaluru-headquartered firm also saw an improvement in operating margins, which rose by 40 basis points (bps) QoQ but declined by 10 bps YoY to 15.4%.

Tube Investments of India Ltd. dropped 1.87 per cent to Rs 4419.0 at 12:26PM (IST) in Thursday's trade. The scrip hit a high of Rs 4511.0 and low of Rs 4397.55 so far during the session. The stock had closed at Rs 4503.6 in the previous session. The counter had a total traded volume of 12:26PM shares so far with a turnover of Rs 0.48 crore on BSE. The stock traded at a price-to-earnings multiple of 70.63 and a price-to-book ratio of 14.15.

Pawan Parakh, Fund Manager, Geojit Financial Services, says in auto, we have hardly scratched the surface as far as electric vehicles are concerned, but a lot of these companies are getting valuations as if EV is 20%, 30%, 40% of their sales. This is one segment where, even at the OEM level, there are unbelievable valuations. Apart from that, in the retail space, once again some of the companies, despite how good the performance is, the valuations can be justified. Also, in some of these PSU names, a lot of the stocks have run up as if they are great Maharatna companies. These are the few pockets Parakh will be looking for the next two-three quarters. What so far within the earnings has really stood out for you either as a positive or a negative surprise? Pawan Parakh: So far not many companies have reported their earnings but whatever is out, it is one sector which we continue to like. Very clearly from now on or maybe a quarter onward you should see momentum coming back as far as its revenues are concerned. So, it is one sector which looks good. Some of the data that we picked up from various channels is that this time around e-comm sales are also being reasonably good.

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

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Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

Subscribe to enjoy similar stories. MUMBAI : Imagine you’re planning a cross-country road trip and need to choose a driver. While having a driver’s licence is essential, it’s not enough.

smartphone shipments grew 5% in the third quarter of 2024, driven by persistent demand in emerging economies and the start of a replacement cycle in North America, China and Europe, underpinning a recovery in the market after a prolonged slump. The July-September quarter marked the fourth consecutive quarter of growth in the smartphone market, research firm Canalys said in a report on Monday. Apple reached record high third-quarter shipments, backed by strong demand for its older models, the report added. WHY IT'S IMPORTANT

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Subscribe to enjoy similar stories. The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) unanimously voted for a change in stance to neutral from withdrawal of accommodation while one member dissented on the rate action in favour of a rate cut. There is a significant change in the RBI governor’s statement from the last policy with focus increasingly shifting to balancing growth and inflation rather than being ‘actively disinflationary’.

Modi stocks – a reference to those related to the government-led capex cycle –bounced back up to 8% in Tuesday's session after BJP was seen heading towards a hattrick victory in Haryana elections, with a simple majority on its own. PSU stocks, especially those belonging to railways and defence, were among the top gainers in today's trading session. PSU stock RVNL rallied over 8%, HUDCO was up 7% while PFC, REC, IRCON, HAL, BEL, Mazagon Dock and Cochin Shipyard rallied in between 4-6% each.

«But if you look at 21, 22, 23, if you look at the returns, they really have not as a class outperformed the markets. In fact, I would suggest that they have underperformed markets meaningfully, even if the companies are giving you a return,» says Rahul Bhasin, Baring Private Equity Partners. Do you think the class of 2024 IPOs is different from the class of 2021 wherein there was the frenzy, there were the fancied names, but there was also no path to profitability? Do you think first things first, we need to make that disconnect? Rahul Bhasin: Look, I will break that up into two parts. I mean, one part is the fact that mostly IPO markets give very good returns for investors when there has been a drought of IPOs for an extended period of time and so when you are talking about 21, there probably been a lull in the IPO market for almost a decade before that and virtually IPOs had dried up and then when you start seeing IPOs, usually it is in the first year after a drought that you usually get higher quality companies.

Asian shares have advanced after a surprisingly strong U.S. jobs report raised optimism about the economy, sparking a rally on Wall Street

One financial firm is trying to capitalize on preferred stocks – which carry more risks than bonds, but aren't as risky as common stocks.

solar flares that erupted on the sun on their way to Earth, potentially bringing some intense displays of the northern lights.The Space Weather Prediction Center in the U.S. National Oceanic and Atmospheric Adminsitration (NOAA) said on Thursday that a strong geomagnetic storm watch has been issued Oct.

technology industry is particularly prone to shortening product life cycles on account of the need for hardware to keep pace with demands of software. Typically, a consumer electronics device is obsolete by the time it arrives in the market. These cycles are becoming more compressed as computing-aided performance drives market demand.

Much like annoying political TV ads, warnings that the U.S. presidential election could have big consequences for your 401(k) come back every four years

The International Olympic Committee’s three major Japanese sponsors — Toyota, Panasonic and Bridgestone — are terminating their contracts