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ICRA expects the margin for tea estates based out of North India (NI) to be significantly impacted in FY2024 due to the double whammy of increase in cost of production, following the wage rate hikes in West Bengal and Assam and the drop in realisation due to the low export demand and a sluggish rural consumption. According to ICRA’s recent note on the sector, the operating profit margin (OPM) of NI-based bulk tea players is expected to be significantly impacted in FY2024 and, given the current operating environment in the tea industry, both domestic and international, any material improvement in profitability during FY2025 appears unlikely at present. The rating agency has thus revised the sector outlook to Negative from Stable. «The all-India auction prices of orthodox (ODX) tea in 10M CY2023 witnessed a significant decline of Rs.

IT stocks in the last few days following the Fed's dovish tilt could turn out to be premature, say analysts after going through the earnings of Accenture. The key peer of Indian IT services companies reported Q1 revenue growth in line with its guidance range, but Managed Services growth moderated to a 14-quarter low. Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends. A likely weak discretionary demand environment is been seen as negative for Infosys, while incremental weakness in the UK could have negative implications for TCS.

multibagger returns of over 200% in the last 12 months, Indian Rail Finance Corporation (IRFC) shares have emerged from a fresh consolidation breakout and are set for another leg of rally in the short term. The stock has an estimated upside of 13% over the current levels. The over three-decade-old company is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas capital markets. On Tuesday, the stock hit a fresh 52-week high of Rs 101.50.

Nippon Life India Asset Management Ltd share price gained up to 8.9% in morning trades on the NSE on Wednesday. A large trade deal news triggered these gains. The share price also scaled 52 week highs of ₹489 on Wednesday CNBC TV-18 quoting sources has reported that Private sector lender IndusInd Bank is likely to divest a 2.86% equity stake in Nippon Life India Asset Management Ltd (Nippon AMC) through block deals.

It’s been almost a month since news broke of an alleged plot to assassinate pro-Khalistan figure Gurpatwant Singh Pannun in the United States, with possible Indian involvement. In the weeks since, India and the US have scrambled to minimise damage to their relationship. Mint takes a look at how the two countries have responded and the impact on India-US relations.

Parliament on December 19 indicates a significant surge of 28 percent in unclaimed deposits held by banks, reaching a total of ₹42,270 crore as of March 2023. Compared to the preceding financial year of FY22, where the unclaimed deposits with both public and private sector banks stood at ₹32,934 crore, the current figure represents a noteworthy increase to ₹42,272 crore by the end of March 2023, marking a 28 percent rise.

systematic investment plans (SIPs) reached an all-time high in November 2023 as it touched ₹17,073 crore. By no means, it was an aberration. Interestingly, in each of the past five months starting July 2023, the previous record of SIP inflows in mutual funds was broken in the following month.

Yogi Adityanath-led govt on Tuesday approved the implementation of recommendations from the Amitabh Kant Committee report on real estate projects. Two major points of the committee’s recommendations that were considered are - homebuyers must get possession and registry immediately. "The cabinet has approved the implementation of the recommendations of a central committee headed by Ex CEO of Niti Ayog Amitabh Kant," UP cabinet minister Suresh Kumar Khanna said during a press briefing in Lucknow, PTI reported.

Swan Energy Ltd.(up 1.76 per cent), Sobha Ltd.(up 1.08 per cent), Phoenix Mills Ltd.(up 0.64 per cent), Prestige Estates Projects Ltd.(up 0.6 per cent) and Brigade Enterprises Ltd.(up 0.56 per cent) were among the top gainers. Oberoi Realty Ltd.(down 0.22 per cent) and DLF Ltd.(down 0.07 per cent) were the top losers on the index.

Crompton Greaves Consumer Electricals Ltd. rose 2.78 per cent to Rs 304.4 in Wednesday's trade as of 10:36AM (IST) even as the benchmark Nifty ruled at 21555.45, up 102.35 points. The scrip had closed at Rs 296.15 in the previous session.

Satin Creditcare Network with a target price of Rs 330. The current market price of Satin Creditcare Network is Rs 269.2. Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2625.86 Crore) operating in NBFC sector.

IT sector player HCLTech has faced a ransomware incident in an isolated cloud environment for one of HCLTech’s projects, CNBC-TV18 reported. The company has further told the channel that there was "no impact observed on the overall network due to the ransomware incident", adding that a "detailed investigation is underway in consultation with relevant stakeholders".

₹2,000 crore from the National Disaster Relief Fund to enhance initiatives aimed at supporting livelihoods and restoring public infrastructure in the southern districts of the state affected by recent floods. Stalin, in a memorandum submitted to Modi in Delhi, stated that this immediate relief would facilitate livelihood assistance for those affected and address temporary rehabilitation efforts in districts such as Tirunelveli, Thoothukudi, Kanyakumari, and Tenkasi.

Vivek Ramaswamy has pledged to exit the GOP primary ballot in Colorado following the state Supreme Court's ruling that ousted former President Donald Trump from the ballot. The recent ruling by a court comprising justices appointed by Democratic governors signifies a historic moment, as it marks the first instance in history where Section 3 of the 14th Amendment has been applied to disqualify a presidential candidate, as reported by AP.

₹549.78 crore, which is a complete offer for sale. The IPO garnered a decent response from investors on the first day, achieving an overall subscription rate of 2.08 times.

Indoor air quality at offices could negatively impact the creativity of workers, according to a new study. Researchers at the Nanyang Technological University (NTU), Singapore, found that the 87 study participants, all undergraduate and postgraduate students, produced creative output with lower scores when there were high indoor levels of volatile organic compounds, including gases released from products such as detergents, perfumes and paint.

Balrampur Chini, Delta Corp, Indus Towers, IRCTC, Manappuram Finance, National Aluminium Company (NALCO), Piramal Enterprises (PEL), RBL Bank, Zee Entertainment Enterprises (ZEEL) and Steel Authority of India (SAIL). The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

Winter Session to 141, both Houses will reconvene for business on Wednesday. As the session resumes at Lok Sabha, Union Minister Ashwini Vaishnaw is to move a bill to amend and consolidate the law relating to the development, expansion and operation of telecommunication services and telecommunication networks; assignment of spectrum in Lok Sabha on Wednesday. While Mos Law, Arjun Ram Meghwal will be moving the bill to regulate the appointment, conditions of service and term of office of the Chief Election Commissioner and other Election Commissioners, the procedure for transaction of business by the Election Commission and for matters connected therewith or incidental thereto, as passed by Rajya Sabha, be taken into consideration. Union Minister for Information and Broadcasting, Anurag Singh Thakur to move that the Bill to provide for press, registration of periodicals and matters connected therewith or incidental thereto, as passed by Rajya Sabha, be taken into consideration. Apart from that bill to consolidate and amend the provisions relating to offences and for matters connected therewith or incidental thereto and the Bill to consolidate and amend the law relating to Criminal Procedure moved by Union Home Minister Amit Shah on December 19 will also be taken into consideration. Meanwhile, Mos Jitendra Singh will make statement regarding the status of implementation of the recommendations contained in the 376th Report of the Standing Committee on Science and Technology, Environment, Forests and Climate Change on Demands for Grants (2023-2024) (Demand No. 89) pertaining to the Department of Science and Technology, Ministry of Science and Technology.

Imran Khan addressed a virtual internet rally on Sunday night through a voice clone, a first of its kind use of the technology. His Pakistan Tehreek-e-Insaf party used artificial intelligence (AI) voice cloning platform ElevenLabs to clone the jailed cricketer-turned-politician’s voice by feeding the AI model with audio of his previous speeches, The Guardian first reported.

TOKYO (Reuters) — Toyota Motor (NYSE:TM) unit Daihatsu will widen a production halt as a scandal over the rigging of safety tests affects more models beyond the six ones identified so far, the Nikkei newspaper said on Wednesday.

global market cues. The Asian markets traded higher while the US stocks ended with gains overnight amid upbeat sentiment over easing monetary policy by the central bank going ahead. Catch Live Market Updates here However, a spike in crude oil prices on concerns over disruption in the Red Sea would weigh on investor sentiment.