Reports Financial News

Amazon India is moving its headquarters from the World Trade Centre in the northwest part of Bengaluru to a location close to the city’s airport in a bid to cut costs, according to a report by Mint. The ecommerce and cloud computing giant currently occupies half a million square feet of office space across 18 floors in a 30-floor building by Brigade Enterprises. Amazon’s new office is a 15-minute drive from the Bengaluru airport. It is likely to cost the company a third of the Rs 250 per square feet rent it paid in the WTC office. The relocation will begin in April and be completed by 2026, the report said.

Hero Motocorp (HMCL) rallied 5% to their day’s high of Rs 4,835.90 on the BSE after the company reported 14% growth in its standalone net profit at Rs 1204 crore in the second quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 10463 crore.

HDFC Securities has buy a call on KNR Constructions with a target price of Rs 374. The current market price of KNR Constructions is Rs 302.1. KNR Constructions, incorporated in 1995, is a Mid Cap company with a market cap of Rs 8505.94 crore, operating in the Infrastructure sector. KNR Constructions' key products/revenue segments include Income From Contracts and Other Operating Revenue for the year ending 31-Mar-2024.

buy call on Oil And Natural Gas Corporation (ONGC) with a target price of Rs 330. The current market price of Oil And Natural Gas Corporation Ltd. is Rs 250.9. ONGC, incorporated in 1993, is a Large Cap company with a market cap of Rs 315513.40 crore, operating in Gas & Petroleum sector. Oil And Natural Gas Corporation, key products/revenue segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, Butane, Subsidy, Aviation Turbine Fuel (ATF), Other Operating Revenue, LSHS, Electricity, Mineral Turpentine Oil (MTO), HSD, Processing Charges, Others for the year ending 31-Mar-2024.

The BSE Sensex was down 511 points, trading at 77,058, while the Nifty50 was down 162 points, at 23,370 as of 9:46 am.

MRF had announced an interim dividend of Rs 3 per share for its shareholders earlier this month while also announcing the results for the second quarter ended September 30, 2024. The company had fixed November 19 as the record date for determining the eligibility of the shareholders for the said dividend.

Hero MotoCorp will be in focus today after the company reported 14% growth in its standalone net profit at Rs 1204 crore in the second quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 10463 crore.

Grasim Industries will be in focus in Monday's trade after the company reported a 66% fall in its consolidated net profit at Rs 389 crore in the second quarter. The company earned a revenue of Rs 33,563 crore for Q2FY25, up 11% YoY, driven by strong performance from its diversified business portfolio.

Aarti Industries, Aditya Birla Fashion and Retail (ABFRL), Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India and Hindustan Copper. The Future & Options 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%.

Substantial FPI outflows, weak September quarter results, and high valuations have driven the recent market correction. A JM Financial report highlights slowing urban demand across FMCG, retail, auto and mall sectors, based on the September quarter earnings from 157 companies. Demand moderation is seen in chemicals and consumer durables, while the financial sector shows stress in unsecured portfolios of MFIs, certain private banks and NBFCs. The beat-to-miss ratio has been adverse so far, with 150 companies out of 268, or 56%, reporting earnings that are less than the estimates compiled (for more than two analysts) by Reuters-Refinitiv. Experts expect volatility to persist, but remain optimistic about long-term growth. Higher government spending and festive season consumption are expected to boost India Inc.’s earnings in the second half of 2024-25.

Israeli strike in the Lebanese capital Beirut killed Hezbollah's media relations chief Mohammed Afif on Sunday, Times of Israel reported. According to the Times of Israel, Hezbollah has confirmed the death of Mohammad Afif. Afif was killed in an IDF strike on the headquarters of the Syrian Ba'ath Party in central Beirut, Times of Israel reported.

Subscribe to enjoy similar stories. New Delhi: The Centre is working on green steel mandates for the local steel industry, supported by government procurement and financial incentives, as the world's second-largest maker of the alloy works to prepare the sector for the future. The upcoming National Green Steel Mission is likely to mandate steelmakers to make a fixed share of their overall output green, the people cited above said on the condition of anonymity.

Subscribe to enjoy similar stories. The depreciation of the rupee has always been a political hot potato even though it is a natural trend for an emerging market. The rupee’s value is currently at a low, triggered by the strengthening of the US dollar since Donald Trump’s victory in the presidential election.

Joe Biden has for the first time authorised the use of U.S.-supplied long-range missiles by Ukraine to strike inside Russia, according to people familiar with the matter. The decision is a major U.S. policy shift and comes as Biden is about to leave office and President-elect Donald Trump has pledged to limit American support for Ukraine and end the war as soon as possible, as per reports. The weapons are likely to be used in response to North Korea's decision to send thousands of troops to Russia in support of Russian President Vladimir Putin's invasion of Ukraine, according to one of the people, AP reported. The people were not authorised to discuss the matter publicly and spoke on condition of anonymity.

An outbreak of E

Jake Paul versus Mike Tyson Netflix boxing fight has hogged all the limelight. However, despite the height, there has been controversy as many critics termed the bout one-sided with some even claiming it was scripted, as per a report. Women's WBA world light flyweight champion Sara Bailey has alleged that the boxing match between Paul and Tyson was 'fixed'. Another attendee Lucas Bahdi claimed Paul took the fight lightly, the Express-US reported. Meanwhile, Netflix said on Saturday that 60 million households worldwide had tuned in for the highly anticipated boxing match between Jake Paul and Mike Tyson, and the event peaked at 65 million streams, according to a statement.

Colgate-Palmolive India managing director Prabha Narasimhan said people are delaying purchases or extending consumption of daily household and personal products and with a large number of people making these small changes, it has led to a slowdown in the overall market. «Consumers tend to titrate or delay their usage of things, just quite intuitively when they feel the pressure. We have so much headroom to go in terms of moving per capita consumption, our focus really needs to be on that instead of worrying about the big macro indicators and what's happening outside our control,» Narasimhan told ET. «We are certainly seeing a little bit of headwind as far as urban growth is concerned and I do expect it to be temporary.» A report by NielsenIQ said urban demand increased 2.8% year-on-year in the July-September period, while rural demand grew more than twice as fast at 6%. Overall, the FMCG sector grew 5.7% by value and 4.1% by volume during the quarter. The company behind the eponymous toothpaste brand controls half the oral care segment in country and outpaced the market with 10% growth during quarter ended September.

While Jake Paul claimed victory by decision after eight rounds, the night’s unexpected star was Sydney Thomas, a 20-year-old University of Alabama student who captivated the internet.

PM E-Drive incentive targets for this fiscal have been met within weeks of the scheme's launch. Electric two-wheeler (e2w) sales are also close to the scheme saturation goal of one million units for 2024-25, with eligible manufacturers already reporting sales of over 690,000 e2w, official data show. The Ministry of Heavy Industries (MHI) had announced plans to incentivise 80,546 large electric three-wheelers (e-3w of L5 category) under the scheme this financial year.

climate change, according to a new analysis. The report comes at a time when countries are debating ways, at the UN climate conference in Azerbaijan, to raise trillions of dollars to help developing nations reduce greenhouse-gas emissions and adapt to climate change. The southwest monsoon will see a shift from east to west, with the normally-drier western states experiencing higher precipitation, the analysis by the Azim Premji University said. It said the southwest monsoon will bring more rain to the normally-drier western states. However, the eastern states, such as parts of the northeast, may experience reduced rainfall. This shift will further strain agricultural systems in these regions.

Arcane Season 2 Part 2 was on Netflix and since then fans have been curious about the release dates of Arcane Season 2 Part 3 and Arcane Season 3. Netflix has not canceled 'Arcane' as Riot Games is likely to churn out more stories, as per a report on WhatsOnNeflix. However, there are reports that Arcane Season 3 is highly unlikely. Netflix is also yet to announce an official spin-off. Meanwhile, Video streaming platform Netflix was back up on Saturday after an outage that lasted roughly six hours in the United States, according to the outage tracking website Downdetector.com.