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Zydus Lifesciences reported a net profit jump of 31% to Rs 1420 crore in Q1FY25 led by robust sales growth in India and US markets. The drug maker had reported a net profit of Rs 1,087 crore in the April-June quarter of last fiscal.

Hindenburg Research on Sunday responded to Sebi chief Madhabi Puri Buch's statement from the weekend that accused the short-seller of attempting a "character assassination" of the Buchs. In a post on its X account, the short-seller said that the markets regulator boss' response «raises numerous new critical questions,» and «includes several important admissions.» The Buchs had, on Sunday, addressed the allegations made by Hindenburg Research, dismissing them as “baseless,” Sebi chief Madhabi and her husband Dhaval said the US-based short-seller is resorting to character assassination in response to a show-cause notice issued by the regulator in connection with Hindenburg's earlier report on Adani.

Apart from global factors, expensive valuations, especially in the mid-cap and small-cap segments, and the tepid June quarter earnings performance of corporate India are contributing to the rising volatility. The TTM (trailing twelve months) PE of Nifty Midcap 100 and Nifty Smallcap 250 indices is trading at a premium of 28.5% and 35%, respectively, relative to their five-year average, according to the data compiled from Trendlyne. Research by Capitalmind Financial Services indicates a higher probability of correction in the BSE Smallcap 250 index if earnings don’t catch up. “The PE multiple of BSE Smallcap 250 has expanded by 63%, whereas EPS is flat at -3 %. This expansion is mostly due to the price increase. The continued flat trajectory in the earnings could escalate to a high probability of price correction,” states the study. The study is based on one-year data ending 11 July 2024.

Zepto is set to raise another $310 million that will value the quick-commerce firm at $5 billion after the funding, a 40% jump from its last round closed just over a month ago, people in the know said. This will take the total funds raised to nearly $1 billion in two successive rounds for the three-year-old firm. It raised $665 million from a clutch of investors in late June, more than doubling its valuation to $3.6 billion from $1.4 billion in August last year. In a year, Zepto has seen a more than three-and-a-half-time spike in valuation, aided by the rapid rise in demand for quick commerce. Mars Growth Capital, co-run by Mitsubishi UFJ Financial Group Inc and Israel’s Liquidity Group, is set to participate in the next round joining US-based General Catalyst and other existing investors of the Mumbai-based firm for which a term sheet has now been signed, people briefed on the matter said.

IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, Jubilant FoodWorks among others will be in focus due to various news developments and first quarter results IRFC, Vodafone Idea, NMDC, Hudco, SJVN Voltas Shares of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas will be in focus as the companies will announce their first quarter results today.

SpiceJet has delayed the June salaries further to a section of its employees, citing «pressing operational financial commitments». In an email to pilots sent on Thursday, Virendra Malhotra, vice president of flight operations at SpiceJet said the salaries, which have been «delayed...this month (June) beyond expectations» would be disbursed «shortly». ET has seen a copy of the letter.

Maui business owner Javier Cantellops discusses how the island needs tourists to return for businesses on ‘Cavuto: Coast to Coast. 

US stock market indices S&P 500, Dow Jones Industrial Average, and Nasdaq will look to shrug off volatility as investors are keeping eyes on inflation data, corporate earnings and presidential polls. Following months of placid trading, U.S. stock volatility has surged this month as a run of alarming data coincided with the unwinding of a massive, yen-fueled carry trade to deal equities their worst selloff of the year. The S&P 500 is still down around 6 per cent from a record high set last month, even after making up ground in a series of rallies after Monday’s crushing selloff.

IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet again. Ahuja was among the first to make a private equity bet on the Adani Group, while he was at 3i Infrastructure, which he joined in 2005. In 2007, 3i made the first investment from its Indian infrastructure fund, paying $227 million (Rs897 crore at the time) for an undisclosed stake in Adani Power Ltd, then a fully-owned subsidiary of flagship Adani Enterprises Ltd. According to a TOI report, with the enterprise value of Adani Power pegged at Rs 10,850 crore, 3i's equity stake in Adani Power worked out to around 8%. This was 3i’s largest transaction in India since it started investing in the country in mid-2005. It held onto the stock for over seven years. When it sold a 2% block in the company in 2014, VC Circle calculated a 25-30% loss in pound sterling (40% in dollar terms) largely on account of sharp depreciation of the Indian currency. Ahuja left 3i in 2013 and joined IPE Plus Advisors in January 2014. Read More: Madhabi Buch made disclosures, investors should read Hindenburg disclaimer: Sebi

Over the course of many weeks in July, thousands of locals hit the streets of Spain’s major tourist destinations saying they’ve had enough of tourists. The protests are the latest in an anti-tourist sentiment gripping much of Europe, with experts warning that they could have ripple effects all over the world.

Hindenburg report as a calculated move to destroy India's primary and secondary market by attacking the regulator's credibility through the dredging up of a non-issue. Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), made the investments mentioned in the Hindenburg report before 2017 in a private capacity and these had been disclosed, according to people with knowledge of the matter. Early on Sunday, Buch said that these were «baseless allegations» and devoid of any truth, underscoring this point.

Avengers ride. Disney has revealed details about Avengers: Infinity Defense project which will feature Thanos, as per a Collider report. On the all-new Avengers: Infinity Defense ride, where guests will journey through legendary Marvel landscapes, battling the formidable King Thanos. This immersive experience promises heart-pounding excitement as you team up with your favorite heroes, navigating through stunningly recreated scenes straight out of the Marvel Universe.

Madhabi Buch. The party targeted the Modi government and the Adani group and asked the Supreme Court to take suo moto cognizance of the development and reiterated the demand for a Joint Parliamentary Committee into the entire issue of the pending Hindenburg allegations against the business conglomerate. Leader of the Opposition, Rahul Gandhi, said the integrity of Sebi has been gravely compromised by the allegations against its chairperson with the Hindenburg report and asked why the Sebi chief has not yet resigned and urged the apex court to take this up. «Honest investors across the country have pressing questions for the government. Why hasn't Sebi chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable — PM Modi, the Sebi chairperson, or Gautam Adani? In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again? It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal,» Gandhi said.

Opposition to form a Joint Parliamentary Committee probe over Hindenburg latest report on the Sebi chief, the BJP on Sunday alleged that it is a Congress-led conspiracy with the help of foreign hands. BJP national spokesperson Sudhanshu Trivedi said that Congress and the Opposition are trying to create anarchy and economic instability in the country. «For the past few years, whenever the Parliament session commences, a foreign report gets released. The last Hindenburg report came in January 2023, just ahead of the budget session. The BBC documentary also came just before the budget session. Now when the Opposition is asking questions it makes it clear that they had prior information about such a report to be coming during the session,» Trivedi said.

Brazil plane crash, that killed all 62 people on the aircraft, has once again raised apprehensions over the safety of the flight journey. However, amidst all the despair, there is an incident which shows how hiccups can sometimes save one's life. Two travelers named Adriano Assis and Jose Felipe have revealed there mixed up pertaining to the airlines and they couldn't board the fateful flight, as per a report on New York Post. Ultimately, the goof-ups ensured that they didn't meet the tragic ending.

candidates for the Sri Lankan presidential election would cause no expenditure issues, a minister said on Sunday. Finance State Minister Ranjith Siyambalapitiya said that the expenditure estimate for the election has not yet exceeded the Rs 10 billion limit. «If the number of candidates becomes too large for the ballot paper, an extension may be needed. This could lead to an increase in the number of ballot boxes and an additional cost of about Rs 100 million per candidate. However, preparations are being made to fund the submitted estimates,» he said. «The Election Commission noted that Rs 10 billion has been allocated for the election. There is still money left after the allocations for the submitted estimates. They added that aside from expenses such as printing, security and transport, some costs like officials' allowances, do not need to be spent immediately,» the minister said.

landslides, traffic chaosand house collapses, as well as a dam breach which inundated several villages in Haryana. The Jammu and Kashmir administration said the annual Amarnath Yatra has been suspended after heavy rains in the Shri Amarnathji Yatra area. This was the second straight day of heavy rains in the region with Rajasthan being the worst hit as the state reported 16 deaths over two days — two on Saturday and 14 on Sunday. Its Karauli district recorded «exceptionally heavy rainfall» of 38 cm. Nine people, including eight members of a family, died in Punjab's Hoshiarpur on Sunday as their vehicle was swept away by a overflowing seasonal rivulet.

Toyota is promising to strengthen oversight of its vehicle certifications so the scandal that surfaced recently over improper tests will never recur

Trump reportedly has used a slur often targeted at women to describe Vice President Kamala Harris during at least two private conversations. His campaign denies it. The New York Times cited two people who, on different occasions, heard Trump call Harris a «b--.» The people were granted anonymity to describe private discussions. In response, Trump campaign spokesperson Steven Cheung said, «That is not language President Trump has used to describe Kamala and it's not how the campaign would characterize her.» Trump, a Republican, has a history of making derogatory statements about women and his political opponents. He has called Harris, the Democrats' presidential candidate, and other women, including 2016 Democratic nominee Hillary Clinton, «nasty,» and he bragged about grabbing women's genitalia in the infamous «Access Hollywood» tape.

Analysts are expressing shock at a decision by Mexico’s central bank to cut interest rates on the same day that official figures showed a sharp rise in domestic inflation

Stellantis is warning that it could lay off as many as 2,450 of the 3,700 union workers employed at a truck plant just outside of Detroit