Performer Financial News

United Spirits Ltd on Friday reported a two-fold increase in consolidated net profit to Rs 241 crore for the March quarter. The company had posted a net profit of Rs 102 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing. Its revenue from operations was up 12.41 per cent to Rs 6,511 crore during the quarter under review from Rs 5,792 crore a year earlier.

Ashok Leyland Friday reported a 19.8% increase in standalone net profit at Rs 900.41 crore for the fourth quarter ended March 31, 2024. The company had posted a net profit of Rs 751.41 crore in the same period of the previous fiscal. Revenues from operations in the quarter under review stood at Rs 11,266.69 crore as compared to Rs 11,625.67 crore in the year-ago period.

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NEW DELHI:The Union finance ministry on Friday exuded confidence about India's economic resilience, amid global conflicts and commodity price spikes. Positive indications in the farm sector like the prediction of a normal monsoon and stabilizing food prices will help the country “firewall against any adverse pressures" from such external factors in the coming months, the ministry's monthly economic review said.The April review by the ministry's Department of Economic Affairs said that while a normal monsoon will stabilize food prices, strong macroeconomic buffers will help the economy navigate external headwinds smoothly and continue the growth momentum of the previous fiscal year (FY24).According to government estimates, India is expected to report a GDP (gross domestic product) growth of at least 7.6% during FY24, which would be the fastest in any major global economy.

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India, May 24, 2024: SkullSaints, a pioneering Indian brand known for its innovative Mini PCs, announces the launch of its latest product, the SkullSaints Shadow Mini PC. This new addition to the SkullSaints lineup is set to redefine the standards for compact computing with its advanced features, high performance, and exceptional versatility.The SkullSaints Shadow Mini PC is designed to cater to a wide range of computing needs, offering powerful performance in a sleek and compact form factor.

Ludo King, developed by Gametion Technologies, brings the board game of Ludo to the digital world, capturing the nostalgia of traditional gameplay while incorporating features. Available on both Android and iOS platforms, Ludo King tops the charts in Google’s Play Store as well as Apple’s App Store.

Anand Mahindra is known for backing creative endeavors. On Thursday, the Mahindra Group Chairman revealed that the Mahindra Research Valley’s Chennai team helped the crew of the upcoming Prabhas-starrer ‘Kalki 2898 AD’ come up with a Bujji, a custom-made robotic vehicle. Sharing a teaser that introduced Bujji, a robotic car who is a sidekick of Prabhas’s character Bhairava, the billionaire wrote, “Fun stuff does, indeed, happen on X … We’re so proud of @nagashwin7 and his tribe of filmmakers who aren’t afraid to think big…and I mean REALLY big… Our team in Mahindra Research Valley in Chennai helped the Kalki team realise its vision for a futuristic vehicle by simulating the powertrain configuration, architecture and performance. In fact, the vehicle runs on two Mahindra e-motors powering the rear spherical wheel! And Jayem Automotives put it all together… Let the games begin!”

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over 12 percent in this period.In the Nifty Private Bank index, barring 3 stocks - ICICI Bank (13.5 percent), Axis Bank (6.6 percent), and Federal Bank (4.5 percent), all other constituents have given negative returns in 2024 YTD. Bandhan Bank shed the most, down over 22 percent, followed by IDFC First Bank, down over 12 percent, HDFC Bank, down 11 percent and Kotak Bank, down 10.8 percent.

Sunil Damania, Chief Investment Officer, MojoPMS, anticipates potential market volatility after the Lok Sabha election 2024, especially if the BJP fails to exceed 350 seats. After the election, the market will shift focus to appointing the next finance minister and the forthcoming Budget, which could further contribute to market volatility, says Damania in an interview with Mint. The base case scenario anticipates the formation of a government by the BJP.

SRH vs RR Live Score Updates IPL 2024 Qualifier 2: Sunrisers Hyderabad and Rajasthan Royals will lock horns at the MA Chidambaram stadium today. The winner of this key clash will progress to the IPL 2024 finals on May 26 while the loser will be eliminated from the tournament. Rajasthan Royals produced some exceptional performances in the first half of the IPL, but lost their way in the later stages of the tournament, losing 4 of their last 5 matches, with the last one washed out due to rain.

Also Read: ITC Q4 results review: Should you buy, sell or hold the FMCG major? Here's what 5 top brokerages sayThe government aims to boost India's defence exports to US$5 billion by 2024–25, underscoring the sector's increasing significance and potential.Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, and Cochin Shipyard have all experienced significant jumps in their share prices this week, with returns reaching as high as nearly 34%.Cochin Shipyard shares have emerged as top performers among its peers, surging by 34% in the last four sessions alone. This momentum has propelled the shares to a remarkable 722% gain over the past year and an impressive 1058% increase in just two years.Earlier this month, the company bagged an order from a European client, for the design and construction of a hybrid service operation vessel (SOV) with an option for two more such vessels.

Indian government bonds eligible for inclusion in the JPMorgan Chase & Co. index look poised to deliver their best monthly returns in nearly a year, helped by fresh foreign inflows and a record central bank payout. The so-called Fully Accessible Route notes, which have no restrictions for foreigners, returned 1.3% in May so far, according to a Bloomberg index. If that result holds, it would be the best monthly performance since April 2023.

₹435 and ₹515.The stock declined around 1 percent to its day's low of ₹436.90 in intra-day deals today, Friday, May 24. It has now corrected 12.5 percent from its peak of ₹499.60, hit in July last year but has advanced over 9 percent from its 52-week low of ₹399.30, hit on March 12, 2024.The stock has been mostly flat, up just 1.5 percent in the last 1 year, and has fallen over 5 percent in 2024 YTD.

Japan's Nikkei share average sank on Friday, tracking declines on Wall Street after robust U.S. economic data stoked bets that stubborn inflation may delay Federal Reserve interest rate cuts. The Nikkei sagged 1.17% to 38,646.11 as of the close, and had earlier dipped as much as 1.9%.

(HOAC Foods India) made a decent market debut today, as its shares opened at ₹147 each on NSE SME, indicating a premium of 206% over the issue price of ₹48. The SME IPO, valued at ₹5.54 crore, was open for subscription from May 16 to May 21, 2024, at a price of ₹48 per share.

Mint tracker, continuing its trend from the previous year. With a composite score of 84, out of a maximum possible score of 100, India topped the EM league table in April with a persistently strong purchasing managers’ index (PMI) in the manufacturing sector, where it has had the best reading in the rankings for 12 months in a row—and in all but three months since November 2021. All currencies in the list saw a decline against the US dollar in April.

₹416.57 lakh crore) on Thursday, coinciding with the Nifty 50 index reaching a record high of 22,993.60. Meanwhile, in morning deals today (Friday, May 24), Nifty crossed the 23,000 milestone, hitting a new high of 23004.05.According to a press release by the NSE, it took NSE-listed companies just 6 months to jump from $4 trillion to $5 trillion.