Performer Financial News

Boeing has tried for years to turn itself around. Its new best hope is a former executive who had a front-row seat to the jet manufacturer’s struggles. Pat Shanahan, a 30-year Boeing veteran and engineer by training, has taken over as interim chief executive officer of one of Boeing’s biggest and most problematic suppliers.

3. Orient Electric Ultimo 65L Desert Air Cooler with Densenest Honeycomb pads, Ice chamber & High Air Delivery | Desert Cooler for home (Grey) The Orient Electric Ultimo 65L Desert Air Cooler stands out as a modern solution for those sweltering summer days. Its innovative Aerofan technology ensures a powerful air throw, reaching up to 18.3 m, swiftly cooling even larger rooms.

By Howard Schneider

Pakistan and the International Monetary Fund (IMF) will start their negotiations on Thursday for the release of $710 million second tranche of a $3 billion loan. A review mission from the IMF will arrive in Islamabad on Thursday and review the economic performance of Pakistan during the first quarter -- July to September-- of the current fiscal year.

Macro trades have bounced back to become the best performing hedge fund strategy in the third quarter, turning a page on a dismal first half that saw economic uncertainty weigh on managers.

The Swiss franc is back on track to be the strongest performing G-10 currency against the dollar this year, beating all of its peers in October.

actor Tyler Christopher aged 50 passed away following a cardiac event at his San Diego apartment. The news of the actor’s death was announced by Christopher's former 'General Hospital'costar Maurice Benard on Instagram. «It is with great sadness that we share the news of the passing of Tyler Christopher,» he wrote.

ESAF Small Finance Bank will open for subscription on November 3. The issue closes on November 7.

Jindal Steel and Power Ltd (JSPL) share price declined more than 7% during intraday trades on Wednesday post its Q2 results, which were declared after-market hours on Tuesday. The company while reported a strong net profit growth it is the slight extension in expansion timeline and the concerns on rising coal costs that has led to the analysts cutting forward estimates.

JM Financial has initiated coverage on the wire and cable manufacturer RR Kabel with a ‘buy’ call. The brokerage is bullish on the stock on the back of its industry-leading revenue growth track record, strong outlook, industry tailwinds, and healthy performance. It has a target price of ₹1,650 for the stock, implying an upside of over 21 percent in 12 months.

cooking technology, offering a faster, safer, and more energy-efficient way to prepare your favourite dishes. What sets them apart is their ability to generate heat directly in the cookware through electromagnetic fields, bypassing the traditional method of heating a burner. This means quicker cooking times, precise temperature control, and a safer cooking experience.

₹1,000 crore ($120 million) for its open-ended fund to invest in Indian equities. Kotak Iconic Fund, a category-III alternative investment fund (AIF), invests in equities with varied market capitalisation through diversified active and passive strategies. “The journey to ₹1,000 crore in AUM (assets under management) has been marked by unwavering dedication, resilience, and the trust of investors who have chosen Kotak Iconic as their preferred investment vehicle in the Indian equities space," said Lakshmi Iyer, chief executive officer, investments and strategy, Kotak Alternate Asset Managers.

Ambuja Cements, the Adani Group cement manufacturing company, reported a four-fold jump in its standalone net profit for the quarter ended September 2023. The company’s net profit in Q2FY24 surged to ₹643.84 crore from ₹138.9 crore, in the same quarter of last fiscal.

GeM order volume: The public procurement platform of the government, Government e-marketplace, has crossed 30 lakh order volume in the current financial year. According to the data available on the marketplace at the time of filing this report, GeM had processed 30.38 lakh orders worth Rs 1.91 lakh crore in the current financial year so far. The share of micro and small enterprise sellers in the order value stood at 48.92 per cent.

The Adani Group-owned cement manufacturing company Ambuja Cements on Wednesday posted profit for the second quarter of FY24 at Rs 792.96 crore, up 751.0 per cent as against Rs 93.18 crore during the same period last year, surpassing estimates. It posted revenue from operations at Rs 7,423.95 crore, up 4.1 per cent in comparison to Rs 7,131.39 crore during second quarter of FY23. According to a CNBC TV18 poll, Ambuja Cements was expected to post Q2 profit at Rs 515 crore and revenue at Rs 4,099 crore for the quarter ended September 2023. The company EBITDA, meanwhile, was up 106 per cent from Rs 1,438 crore to Rs 2,969 crore. 

Chinese tech giant Alibaba has launched a new AI model called Tongyi Qianwen 2.0. The company claims it to be more powerful and versatile than the similar AI models created by US tech giants like Meta, Amazon and Microsoft. The Tongyi Qianwen 2.0 along with new industry-specific models was announced by Alibaba at its annual flagship tech event Apsara Conference.

Birlasoft has reported a 26 per cent increase in profit after tax (PAT) to Rs 145 crore for the September 2023 quarter. It had reported a PAT of Rs 115 crore in the same period last year, the Pune-headquartered company said in a regulatory filing on Tuesday.

«There is no structural change in the industry and majority of our revenue is coming from the medtech industry, the imaging industry and the dilution of the margins has been a global phenomenon for the chemical industry and we are in performance chemicals,» says VK Singh, COO, Blue Jet Healthcare. Meanwhile, Shiven Arora, MD, Blue Jet Healthcare says, " See, across three business verticals, we have invoiced to about 400 customers across 39 countries in the past three years. We feel that there is enough and more depth in the customer profile that we have today." This is a complete OFS and no money is coming in the company. But for the investors, tell us about how do you see yourself growing in the three segments that you have presence in? You have a good presence in the API, CDMO, you have the sweetener segment as well. So going ahead, which one do you believe will drive the growth for the company? VK Singh: Yes, there is no money coming into the company but then for all three segments, we have demonstrated an excellent growth over the last three, four years and we believe that we will maintain this momentum. Let me talk about your numbers now, if you look at your margins, they have actually seen a decline and when I talk about decline, I am talking about it being approximately 42% in FY21. Now, if you see in the quarter, in Q1 of FY24, that is, that the margin figure has come down to about 33% or so. If you could tell us why is there a decline in the margins over that period? Also, what is your outlook going ahead for the margin and if possible, if you could give us a sustainable level that you are envisaging when it comes to the margins for your company? VK Singh: See, there is no structural change in the industry

Pfizer lost more than $2 billion in the third quarter as an expected COVID-19 product sales decline clipped revenue

Disney claims its free speech rights were violated by Florida Gov. Ron DeSantis, and is fighting him in federal court

Automaker Stellantis says that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors