Recovery Financial News

Syngene Q2 results: Syngene International has cut its FY24 growth guidance to mid-teens on a constant currency basis compared to earlier guidance of high-teen growth. The share price of Syngene corrected more than 7%. The challenges are posed in the Discovery Sciences segment.

The Ethereum price has risen by 1.5% in the past 24 hours, with its move to $1,579 coming as the cryptocurrency market as a whole recovers by nearly 2% today.

₹50 crore of unidentified cash in IT raids has become the centre of a political row erupted between Congress and BJP in Karnataka. Soon after IT raids recovery on Sunday, BJP state president Nalin Kumar Kateeel claimed links between ruling Congress and the recovered money. Soon after his allegations, Chief Minister Siddaramaiah denied the claims and called them baseless.

By Joe Cash and Liangping Gao

₹121,013 per kl in 2022-2023 and at ₹101,833 per kl so far in the current financial year compared with an average of ₹65,368 per kl in 2019-2020. Jet fuel prices in Delhi rose for a fourth consecutive month to reach ₹118,199.17 per kilolitre (kl) on 1 October, a 32% spike since June.

Bitcoin (BTC), the world's oldest and most valuable digital currency, couldn't climb above $28,000 recently. 

Binance CEO Changpeng Zhao's plan to rescue the cryptocurrency market has fallen short of expectations eleven months after launch.

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Corning, Qorvo, Skyworks Solutions, and Juniper Networks.

Investing.com -- The International Monetary Fund has maintained its global growth forecast for 2023, but slashed its projection for next year, predicting a «slow and uneven» recovery for the world economy from the COVID-19 pandemic and the outbreak of the war in Ukraine.

Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may not have been as effective as desired, a new report suggests.

Aircraft Recovery Training School on the premises of Kempegowda International Airport here. The newly set up institution is entirely dedicated to providing specialised aircraft recovery hands-on training, equipped with state-of-the-art Disabled Aircraft Recovery Equipment (DARE), it said.

Kaustubh Pawaskar, DVP, Fundamental Research, BNP Paribas, says “prior to election years, we see the government increasing spending in the rural markets or agri economy and that should augur well for rural demand and to see a good bit of recovery in the quarters ahead. Urban consumption demand is quite stable over there. Once rural is back on track, we should see volume growth gradually recovering and that is expected from Q2 with a bit of help from the festive demand which is going to be there in October and November.” In the FMCG pack, Marico consolidated revenue is marginally lower on a year-on-year basis. GCPL is also a bit weak-ish in terms of volumes. What is your view on the FMCG pack as a whole for Q2? Q2 is going to be a weak quarter for the consumer good companies.

Marico said the demand situation during the September quarter largely mirrored the trends observed in the preceding quarter and instances of rising food prices and below-normal rainfall distribution in some regions seemed to impede the anticipated recovery in rural demand. The maker of Saffola and Parachute said domestic volumes grew in low-single digits on a year-on-year basis, and it continued to witness healthy trends in offtakes, market share and penetration across key franchises. «Consumption trends, particularly in rural, are expected to improve in H2 owing to retail inflation levels staying within RBI’s target range, hike in MSPs, healthy sowing season, easing liquidity pressures and government spending,» Marico said in its quarterly earnings update Among key inputs, copra and edible oil prices stayed in a favourable range, although the latter continued to exhibit some volatility. Crude derivatives remained firm with an upward bias.

Bankrupt South Korean yield platform Haru Invest says it will return users' assets, although no particular timeframe is given.

Bitcoin (BTC), the world's top cryptocurrency, recently experienced a remarkable surge, surpassing the $28,000 mark on Monday. At that time, the entire cryptocurrency market boasted a total worth of approximately $1.11 trillion, marking a 3.05% growth within the past 24 hours. 

The BSE Sensex advanced 320 points or 0.49% to settle at 65,828. The broader NSE Nifty surged 115 points or 0.59% to end at 19,638. In Q2 FY24, Nifty surged 449 points or 2.3% to 19638, while Sensex advanced 1,110 points or 1.7% to 65,828. From the Sensex pack, NTPC, Tata Motors, and Sun Pharma were the top gainers, rising 2-3%.

(Reuters) — Micron Technology (NASDAQ:MU)'s first-quarter loss forecast has triggered concerns of a sluggish recovery in the memory chip maker's end-markets such as data centers, sending its shares down about 5% in premarket trading on Thursday.

China's central bank said on Wednesday it would implement monetary policy in a «precise and forceful» manner to support economic recovery. The People's Bank of China will step up macro policy adjustments, the bank said in a statement after a quarterly meeting of its monetary policy committee. The central bank also pledged to promote the healthy and stable development of the property market.

₹1,150 crore for Emami. “With this proceeding, Emami is looking to reduce the pledge position to 13%. With further land asset monetization, the endeavor is to reduce the pledge to about 10% by Q3FY24," wrote Nitin Gupta, analyst at Emkay in a report on 25 September.

Stocks finished yesterday's session higher, climbing by 40 bps. Most of the gains came in the final minutes. It was clear that the 0-DTE crowd was trying to close the S&P 500 index over the 4,330 level, and accomplished their goal.

Manipur government on Friday told the Supreme Court that it has filed a status report on the issue of recovery of arms from «all sources» in the ethnic violence-hit state.