Reports Financial News

By Guy Faulconbridge and Lidia Kelly

Apollo Tyres Ltd, Ceat Ltd, JK Tyres & Industries Ltd and MRF Ltd have declined 5-15% in the last five trading sessions. Considering an average selling price of ₹40,000 per pair, a price reduction of around 1.5-2% has been taken by companies like Apollo Tyres and JK Tyres, showed a recent dealers’ channel check by Nomura Financial Advisory and Securities (India). This move was in response to a similar price-cut action taken by the truck segment leader, MRF on 5 March, Nomura said in its report dated 7 March.

₹200 crore or $25 million. The buyback will enable wealth-creation opportunities for about 1,700 current and former employees, the company said on Wednesday. "[The buyback] underscores our commitment to rewarding our teams, and we are pleased that despite the prevailing macroeconomic conditions, we persist in providing opportunities for wealth creation and nurture a culture of growth within the organisation," Meesho's chief human resources officer Ashish Kumar Singh said.

Mukhtar Ansari joined the court proceedings via video conference from Banda Jail, where he is currently lodged. The order was passed by the special MP-MLA court of judge Awanish Gautam, district government counsel Vinay Singh said. The case against Mukhtar Ansari was registered under IPC sections 467 (forgery), 468 (forgery for purpose of cheating) and 120B (criminal conspiracy), along with provisions of the Arms Act at Mohammadabad police station of Ghazipur district in December 1990, News agency PTI quoted Vinay Singh.

₹48 lakh and long-term capital gains of ₹6 lakh had been booked in December 2022. At a 10 % long-term capital gain tax, with ₹1 lakh exemption, my client was happy that the extra tax liability was only ₹50,000. To his surprise, his chartered accountant asked him to deposit ₹1.65 lakh extra in taxes.

A recent US government study found that existing intellectual property laws are sufficient to handle infringement related to non-fungible tokens (NFTs). Consequently, there is no requirement for new legislation in tackling this issue, it says.

Crypto mining firm Core Scientific has announced a decline in year-on-year revenues in its Q4 2023 results, accompanied by a substantial reduction in net losses. 

tech, cybersecurity and risk is becoming a key attribute that companies are looking for in non-executive independent directors, as India Inc takes proactive steps to remain agile and prepare for any potential disruption, a survey has revealed. Independent directors with specialised knowledge contribute valuable insights, ask critical questions and also offer guidance on complex matters. Hence companies are expected to witness higher representation from such sectors in the next two years on their boards, according to the India Board Report 2023-24, brought out by executive search firm Hunt Partners, in association with law firm AZB & Partners and consulting firm PwC.

Sharon Stone disclosed the identity of the Hollywood producer who coerced her into having sexual relations with a co-star to enhance the actor's performance. According to a report by Page Six, the renowned actress, famed for her role in 'Basic Instinct', unveiled that it was producer Robert Evans, who passed away in 2019, who attempted to pressure her into engaging in intimate acts with Billy Baldwin while they were shooting the 1993 thriller 'Sliver'.

Flourish, a leading fintech platform that aims to enhance financial outcomes for clients through registered investment advisors, has added to its shelf of offerings through a new partnership.

The Bear Traps Report founder Larry McDonald reacts to January’s PCE report and its impact on the Federal Reserve’s highly monitored rate decision. 

India BusTrack, a data-based report on the Indian intercity bus industry on Wednesday. redBus said the inaugural report covers key parameters reflecting the overall health and trends of the Indian bus industry in November and December last year. The market trends are restricted to private bus operators and do not include SRTCs (State Road Transport Corporations). As per the report, the private bus industry saw gross ticketing value of Rs 3600 crore in November-December 2023 and 36.06 million passengers traveled during the period. There are 3,63,918 unique bus routes in India and buses connect 8,530 towns across the length and breadth of the country, making the reach of the bus network on par with railways, according to the report. Maharashtra and Goa topped the charts with 82% bus occupancy in November and December last year according to the report, while Madhya Pradesh and Chhattisgarh saw the lowest occupancy at 67%. The all India bus occupancy rate was 77%.

European shares opened higher to hit another record high on Wednesday, as upbeat corporate updates encouraged market sentiment, while investors awaited industrial production data from the region. The pan-European STOXX 600 was up 0.1%, by 8:21 GMT, following the benchmark's all-time closing high on Tuesday.

Abhinav Bharti is leaving the US bank, according to people familiar with the matter. He will be replaced by Arvind Vashistha, former managing director of Citigroup Inc. in India, the people said, asking not to be identified because the matter is private. Bharti is leaving after working for more than 13 years with JPMorgan, according to his LinkedIn profile. He was elevated to managing director in 2022. He joined the firm as an associate from Kotak Mahindra Bank Ltd.’s investment banking arm in 2010.

On Tuesday (12 March), economists gave evidence in the second of three TSC meetings taking a look at Chancellor Jeremy Hunt's Spring Budget last week, in which they noted the numbers on the UK's growth outlook were not aligned between the two institutions. Accompanying the Budget, the OBR report was upgraded from its previous forecast in the Autumn Statement, and suggested GDP growth would average 0.8% in 2024, up from the previously forecast 0.7%. The economy is then predicted to grow 1.9% in 2025, 2% in 2026, 1.8% in 2027 and 1.7% in 2028. By contrast, the BoE downgraded it latest f...

Bharat Electronics Ltd. traded 5.3 per cent down in Wednesday's trade at 01:50PM (IST). Around 2,065,117 shares changed hands on the counter. The stock opened at Rs 204.25 and touched an intraday high and low of Rs 205.65 and Rs 192.2, respectively, in the session so far. Shares of the company of Bharat Electronics Ltd. quoted a 52-week high of Rs 216.7 and a 52-week low of Rs 89.68.

Nitin Gadkari emerged victorious in the polls from this constituency. Nagpur during the polls sees a battle between BJP, Congress and BSP. Rashtriya Swayamsevak Sangh (RSS) headquarters is also located in Nagpur. Nagpur Lok Sabha polls 2024: Dates The timing of the Lok Sabha Elections in Nagpur has considerable attention from both political analysts and the public. Initial speculations suggest that the polls may adhere to this customary schedule, likely occurring between April and May. However, precise details await official confirmation from the Election Commission of India (ECI).

Tata Power Company Ltd. traded 4.93 per cent down in Wednesday's trade at 02:00PM (IST). Around 1,249,969 shares changed hands on the counter. The stock opened at Rs 398.5 and touched an intraday high and low of Rs 399.75 and Rs 373.45, respectively, in the session so far. The stock of Tata Power Company Ltd. quoted a 52-week high of Rs 433.2 and a 52-week low of Rs 182.45.

PARIS (Reuters) -BNP Paribas, the euro zone's largest bank, on Wednesday said it will step up its cost-cutting plan by 400 million euros ($437 million) after reporting weak results for the fourth quarter.

BENGALURU : India's aim to grow into a $10-trillion economy over the next decade will be fuelled by manufacturing in sunrise sectors such as semiconductors, electronics manufacturing, electric vehicles ecosystem, renewable energy and defence, according to a report by Boston Consulting Group and Matrix Partners. The report estimates that the market for electronics is about $500 billion while semiconductors will become a $120-billion market by 2030.

CNBC. Last year in May, the company's CEO Arvind Krishna had said that the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.