Reports Financial News

In a landmark decision, Próspera ZEDE, a special economic zone in Roatán, Honduras, has officially adopted Bitcoin (BTC) as a unit of account. This significant move, announced on January 5, 2024, by Jorge Colindres, the acting manager and Tax Commissioner of Próspera ZEDE, marks a substantial step forward in the integration of cryptocurrency into mainstream financial systems​​​​.

Hindustan Unilever is set to release its Q3 results on Friday, January 19. The company is likely to report a marginal rise of 2.2% in its net profit for Q3FY24 at ₹2,638 crore as compared to ₹2,581 crore in the corresponding quarter of last fiscal, as per average estimates of 5 brokerage houses. Also Read: Q3 result preview: FMCG sector expected to see mid single-digit volume growth, margin expansion trend to continue HUL’s revenue during the quarter ended December 2023 is estimated to remain flat year-on-year (YoY) at ₹15,400 crore.

Reliance Industries will post its quarterly earnings report card on Friday. The expectations from Reliance Industries' consolidated December quarter performance remains a mixed bag with the Oil to Chemical (O2C) segment likely to see some pressure. The consumer-oriented retail and Jio (telecom segment) may see a steady quarter, and partially offset the weakness in Oil to Chemicals business.

TrueUSD (TUSD) has clarified that the recent depegging of its value from the US dollar is associated with activities on Binance Launchpool.

HCL Technologies delivered robust Q3FY24 results, by far the best among the “Big Four" Indian information technology (IT) services companies. The company reported a 6.0% sequential revenue growth in constant currency (CC) terms, surpassing market expectations, to hit $3.4 billion. This growth was fuelled by a significant 34% quarter-on-quarter (QoQ) increase in HCL Software (Products & Platforms).

Galaxy S24 series at the Galaxy Unpacked event on Wednesday. Alongside the flagship smartphone series, the Korean phone maker also teased a new range of products called the Galaxy Ring.

Google cuts jobs in Google Assistant software, Devices and Services team "These role eliminations are not at the scale of last year's reductions, and will not touch every team," Pichai informed all employees in the memo, The Verge reported. Pichai mentioned, "We have ambitious goals, and will be investing in our big priorities this year." Last week, the search engine giant axed hundreds of its employees working on its Voice Assistant units, hardware teams responsible for Pixel, Nest, and Fitbit, advertising sales team, and augmented reality team. ‘Layoffs suck, but…,’ Google employee who lost his job calls it a ‘blessing’ The cuts struck both rank-and-file employees and executives.

ANI, the elephant was seen running behind pedestrians on the street of the town. Earlier on 16 January, a 67-year-old man died and two others were injured after a wild elephant attacked them in Odisha’s Balasore district, police had said as reported by PTI. As per the police, the tusker trampled to death Debendra Giri at Khunta village in Rabania area.

INS Vishakhapatnam reportedly responded to a drone attack distress call in the Gulf of Aden. The drone attack distress call was made from Marshall Islands-flagged vessel in the Red Sea.

₹6,103.40 apiece in today's trade. This uptick in shares was in response to the company's strong performance in Q3 FY24. On Wednesday, the company released its Q3 FY24 earnings post market hours, reporting a 69% jump in its consolidated net profit to ₹741 crore.

₹3,105 per share by rolling forward RIL’s New Energy valuation to FY26E sales. It has a ‘Buy’ rating on the RIL shares. Reliance Industries has strategically invested in ten global technology innovators across New Energy verticals.

Varun Beverages Ltd. traded 1.4 per cent up at Rs 1231.4 at around 01:12PM (IST) on Thursday. The stock had closed at Rs 1248.9 in the previous session.

growth in earnings for the quarter ended December. However, the growth in both topline and bottomline is expected to be in single digits because of a weak show by the oil-to-chemicals (O2C) business. Meanwhile, numbers across parameters are expected to drop sequentially mainly because of the O2C vertical. Consolidated revenue of RIL is likely to rise 5% YoY to Rs 2.31 lakh crore, but fall about 2% sequentially, according to the average of estimates given by nine brokerage firms. Consolidated net profit is expected to grow 9.3% YoY to Rs 17,257 crore, but drop nearly 1% sequentially. Earnings before interest, taxes, depreciation and amortization or EBITDA is expected to increase 4% YoY to Rs 40,030 crore, but fall sharply by 11% sequentially. The toy-to-telecom conglomerate is scheduled to release its earnings after market hours on Friday.

HUL) is expected to report muted numbers for the quarter ended December in the backdrop of weak volume growth, price cuts, and rising advertising costs. India’s bellwether in the fast-moving consumer goods sector is expected to report a 6% year-on-year (YoY) growth in net profit to Rs 2,653 crore, on the back of a moderate 1% growth in revenue to Rs 15,378 crore, the average of estimates given by 13 brokerages showed. Sequentially, the bottomline is seen falling 2.4%, while the topline growing at a moderate 0.7%.

India is yet to decide on the lower import taxes on imported electric vehicles, news agency Reuters quoted Rajesh Kumar Singh, a top bureaucrat at the Department for Industry and Trade Promotion as saying at the ongoing World Economic Forum in Davos. The issue of the Elon Musk-led company's entry and lower EV import taxes has also faced resistance from the domestic industry, the official said. Additionally, India has continued its demand of wanting firm commitments from Tesla on investment and manufacturing should the government opt to lower taxes.

India Startup Outlook’ report from venture debt firm InnoVen Capital. Of the more than 100 startup founders who participated in the survey, 24% were open to hiring professional CEOs in the next 2-3 years, up from 20% in 2022.

Bharat Electronics Ltd. rose 0.32 per cent to Rs 186.3 in Thursday's trade as of 12:40PM (IST) even as the benchmark Nifty ruled at 21480.0, down 91.96 points. The scrip had closed at Rs 185.7 in the previous session.

IndiGo's Patna to Pune flight (6E-126) faced a substantial delay on Wednesday, leaving 162 passengers grounded for over three hours. The catalyst behind this delay unfolded as the first officer, steering the aircraft through foggy conditions at Jay Prakash Narayan International Airport in Patna, received distressing news of his grandmother's sudden demise. Amid preparations for takeoff, the first officer, grappling with the emotional upheaval, made the poignant decision to abort the flight.

Vedanta Ltd. traded 0.73 per cent higher in Thursday's session at 12:30PM (IST). The stock opened at Rs 265.15 and has touched an intraday high and low of Rs 268.35 and Rs 258.0, respectively, during the session so far.

Budget expectations: According to a report by the World Gold Council, India is the second largest consumer of gold jewellery in the world and the interim Budget with strategic moves can give the industry a shot in the arm. The World Gold Council report said much of the Indian gold market was very traditional, reflecting important cultural and religious ties. This can be seen in the long-standing preference for 22-carat jewellery and the dominance of bridal jewellery. But the gold market is evolving, with changing tastes and designs. In recent years, for example, demand has grown for lightweight and studded jewellery. These stones and jewellery are considered as the power, success, and reputation for the Indian women thus providing them social and economic security, the value of which can never be undermined. Also Read: A bold Budget can pave way for India to be Global South's voice Budget boost for India — a jewellery factory of the world India today is the factory for the world in jewellery segment and has potential to become the market for the world. The Gems and Jewellery industry has become one of the largest businesses in India, playing an important role in the Indian economy. If we consider the statistical data, it is seen that it contributes to almost 7% of the country’s total GDP, and 15.71% of India's total merchandise exports.

Bajaj Holdings & Investment Ltd. fell 1.81 per cent to Rs 7938.45 in Thursday's session as of 11:59AM (IST) even as the equity benchmark Sensex traded 181.25 points lower at 71319.51. Earlier in the day, the stock witnessed a gap down start to the session.