End Financial News

Mphasis Ltd remain a disappointed lot. The mid-tier IT company saw its sequential constant currency revenue decline for the third consecutive quarter in June (Q1FY24). Revenue fell by 3.3%, higher than analysts estimates.

Toyota Kirloskar Motor (TKM) is likely to reach optimal capacity utilisation at its plants by the end of 2024, after which it may consider setting up another unit, a top company executive told ET. The maker of Hycross and Innova Crysta models has seen a surge in demand since it started rolling out new models in 2020, following its global alliance with Suzuki Motor Co. On the back of robust demand for its newly launched vehicles and buoyancy in the passenger vehicle market, TKM is expecting 2023 to be its second consecutive year of record production and sales, said Vikram Gulati, country head and executive vice president, Toyota Kirloskar Motor (TKMPL). In FY23, TKM's dispatches to dealers increased by 41% over the previous year to 174,015 units. It plans to dispatch 220,000-230,000 units in the current fiscal year, according to a person familiar with the company's sales projection. This would be TKM's second consecutive year of double-digit growth. A large part of its incremental volume is likely to come from the Hyryder, its new compact SUV which is the first product co-developed with Maruti Suzuki.

Russia and China have ended their joint naval exercises in the Sea of Japan, the Russian defence ministry announced Sunday, as the two allies seek to deepen their military ties. The two massive countries, which share a common desire to counter what they see as American hegemony, have grown closer in the military sphere since Russia launched its Ukraine offensive last year, a move China has not condemned. The Russian defence ministry previously said the main goal of the latest exercises, which began on Thursday, was to «strengthen naval cooperation» between the two countries and «maintain stability and peace in the Asia-Pacific region».

₹12 lakh in purchasing-power-parity (PPP) rupees – a tad less than the entry price of a full sedan from Maruti or Honda in India (not the sub-four-metre ‘compact’ sedan that’s unique to India). Instead, a Mercedes C300 in India starts at over ₹65 lakh. The reason? Taxes.

₹357 crore which was a sharp decline from ₹6,444 crore in the corresponding period last year. Paytm founder and CEO Vijay Shekhar Sharma talked about the growth of the business on Saturday and said Paytm expects to generate free cash flow by the end of this year.

One97 Communications, which operates under the Paytm brand, expects to generate free cash flow by the end of this year, a top company official said on Saturday. Paytm founder and CEO Vijay Shekhar Sharma, in an earnings call, said that growth for the company in the June 2023 quarter came on account of expansion in payments, financial services and commerce business. «We are on our committed guidelines of becoming free cash flow positive by the year-end,» Sharma said.

South Korea has warned North Korea that any nuclear attack from the latter's side would mean an «end» of the Kim Jong Un-led regime, Yonhap News Agency reported on Friday. Seoul's warning has come after Pyongyang had said the deployment of a US nuclear-capable submarine and other strategic assets here could meet the conditions for its use of nuclear arms.

Ayush', or traditional systems of medicine, by the end of this year, ET has learnt. Data collection for the survey, which started last year in July, is nearly complete, and the results will take 4-5 months to be compiled, sources indicated.

₹3,370.90 crore in the purchase of shares, while domestic institutional investors (DIIs) sold shares for a net total of ₹193.02 crore. FIIs purchased shares worth a net of 19,696.66 crore rupees for the month up to July 21, while DIIs sold shares worth a net of 10,196.92 crore rupees. As investors took profits, the domestic equities barometers crashed on Friday, snapping a six-day winning trend.

McIlroy arrived at Hoylake full of confidence after his victory at the Scottish Open last week. By posting 66 birdies and setting the pace boldly, Tommy Fleetwood is among those who are at the top of the leaderboard. On the other Christo Lamprecht and Emiliano Grillo are also at five under. Viktor Hovland, Scottie Scheffler and Brooks Koepka are at one under par. Round 1 Tee time begins at 6.35 am BST.

Back in the spring, there was a brief period when it looked as if the great corporate deal drought might be ending. A flurry of bids for UK companies by private equity firms sparked hopes that investment banking fees might start to flow again, reducing the risk of another round of banking job cuts.

In early May, the northeastern state of Manipur descended into ethnic violence, wedged in agony between warring Kuki and Meitei groups. What began as a protest against Scheduled Tribe status for the latter morphed into bloodshed, spurts of which have been reported on and off since. It took a viral video of women paraded naked by a mob to jolt the country’s establishment into an overdue recognition: Not only does the state need urgent intervention, we would fail the most basic of our national promises if we do not put a definitive end to all forms of mass violence, the brunt of which is mostly borne by women.

New Delhi: The electric vehicle industry’s growth in India is expected to create around five million jobs by the end of next decade, an official statement from NITI Aayog said on Thursday. The statement quoted Vice Chairman Suman Bery speaking at a conference in Goa highlighting the growth prospects of the emerging sector.

₹7.24 lakh crore and deposits of ₹1.52 lakh crore – remarkable for a private-sector non-bank lender. That wasn’t all. Parekh was also one of the first to spot the opportunity when the government opened up the banking sector to private players, and spearheaded HDFC’s entry into it with the creation of HDFC Bank.

streaming service Netflix said it has started cracking down on password sharing in India, along with other markets including Kenya, Indonesia and Croatia. Subscribers from only a single household would be able to access an account. This comes after Netflix in May, started rolling out a ban on password sharing worldwide.

By Timothy Gardner

Investing.com — U.S. crude inventories fell by just a third of expected levels last week despite an end to drawdowns from the national oil reserve, government data showed Wednesday.

India invited the West’s anger over Russian oil. B...

A meeting in India of finance chiefs and central bank governors of the Group of 20 leading economies has ended without consensus because of differences over the war in Ukraine

The state government stated that the term of the Expert Committee is extended for a period of one month from July 13, 2023 to August 12, 2023. The Assam government in May this year announced the constitution of a four-member committee to examine the legislative competence of state legislature to enact a law to end polygamy. The committee has been given a deadline of 60 days to submit its report.

Bonds rallied for a second day as traders bet global central banks are nearing the end of an aggressive streak of rate increases.