Strategy Financial News

26.07 / 11:22

Manufacturing Action Entertainment Strategy Tech Mahindra Q1 Results: Net profit declines 38% to ₹692.3 crore on weakness in key segments

Tech Mahindra Q1 Results: Tech Mahindra announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 26, reporting a decline of 38 per cent in consolidated net profit at ₹692.5 crore, compared to ₹1,131 crore in the year-ago period. The fall in the company's profit was on the back of weakness reported in its key segments. The IT major's consolidated revenue from operations during the first quarter of current fiscal stood at ₹13,159 crore, reporting a rose of 3.5 per cent, compared to ₹12,707 crore in the year-ago period.

26.07 / 11:19

UPS Strategy performer track Dr Reddy’s Q1 Results: PAT rises 46% at 1402.5 crore, revenue up 7% QoQ

₹1402.5 crore, which is 46 percent up QoQ and 18 percent YoY. The total revenues of the firm also rose 7 percent QoQ and 29 percent YoY at ₹6,738.3 crore.

26.07 / 10:57

COST UPS Strategy performer country Santander Brasil weighs on group results as Q2 net profit falls 45%

SAO PAULO (Reuters) -Brazilian lender Santander Brasil on Wednesday reported higher second-quarter net profit on a sequential basis but saw its results weigh on group performance as they remained well below last year's levels.

26.07 / 10:17

Reuters Strategy US Fed Meeting LIVE: Global investors expect the last rate hike in current cycle

US Federal Reserve Meeting Today: Following a pause on rate hikes in June, it is highly probable that the US Federal Reserve will opt for an increase in benchmark rates by 25 basis points, bringing them to a range of 5.25% to 5.50% on Wednesday (July 26). Global investors will be paying close attention to the Federal Reserve's position on inflation and its forthcoming strategies concerning the trajectory of rate hikes.It is expected that Federal Reserve might indicate the conclusion of the ongoing rate hike phase.

26.07 / 10:05

COST Microsoft Google Strategy NVIDIA AI lesson for Microsoft and Google: Spend money to make money

By Akash Sriram and Stephen Nellis

26.07 / 10:05

COST Lowe's Target Strategy show Fed poised to hike rates as markets anticipate inflation endgame

By Howard Schneider

26.07 / 08:31

Manufacturing Strategy Barrett show Early votes at Bubs indicate spill at infant formula maker to fail

The long-running dispute between the current and former management of Bubs Australia is coming to an end with early voting indicating a proposal from dissident investors to spill the board of the infant formula manufacturer does not have the support of most shareholders.

26.07 / 07:59

Provident CEO Platform Strategy Holdings Financial Bandhan Financial Holdings to acquire Aegon Life Insurance

Bandhan Financial Holdings (BFHL) has entered into a “definitive agreement” with Aegon India Holding and Bennett, Coleman & Company for the acquisition of the entire shareholding of Aegon and BCCL in Aegon Life Insurance Company.

26.07 / 07:59

Provident CEO Strategy Lawson acquires UK-based InVentry acquires Hipla Tech to become a leading provider of smart workplace solutions

InVentry, a UK-based global leader in technology solutions, has acquired Singapore-based Hipla Technologies, a pioneer in smart workplace management solutions. The acquisition is part of InVentry’s global expansion plan and will support their international growth strategy across both Singapore and India.

26.07 / 07:59

Provident Platform Strategy Wright Research launches Quant-based PMS with a minimum ticket size of Rs 50 lakh

Wright Research, a SEBI Registered Investment Advisor (RIA) and retail robo-advisory platform has launched a Quant-based Portfolio Management Services (PMS). In a statement, Wright Research said the new PMS will use AI algorithms to find and make the most of market irregularities and inefficiencies.

26.07 / 07:35

COST UPS Man Strategy UBS PAC Regal Partners-led consortium lobs knock-out offer for PAC

Apex predator Regal Partners is teaming up with River Capital to make a bid for ASX-listed investment house Pacific Current Group (PAC), sources told Street Talk.

26.07 / 07:35

Provident Strategy Executive Bupa names new local chief executive

Nick Stone has been named head of Bupa Asia Pacific, succeeding long-serving chief executive Hisham El-Ansary who stepped down last year after 15 years with the healthcare group.

26.07 / 07:13

COST UPS Provident Manufacturing Strategy track Q4 L&T margins should improve in Q4 of current year and next 4 quarters: CFO

R Shankar Raman, Whole-Time Director & CFO, L&T, says “as a strategy, the company is looking at asset-light return high areas of operations. Consequently, the cash that gets generated beyond the requirement of the company is meant for shareholders. Returning money to shareholders can take a couple of forms.

26.07 / 05:55

UPS Lowe's Target Strategy Yellow Gold price today: Rates inch up ahead of US FOMC outcome; what should be your strategy for gold today?

Gold and silver prices were modestly up on Tuesday, as caution prevailed ahead of the US Fed's monetary policy meeting. Experts pointed out that the US consumer confidence data was better than expected, the highest levels since July 2021. Despite upbeat US consumer confidence data, gold and silver recovered from their lows amid expectations of dovish comments from the Fed Chairman in its policy meetings.

26.07 / 05:13

UPS Fighting Strategy show country Analysis-Dollar’s decline throws spotlight on battered commodity currencies

By Saqib Iqbal Ahmed

26.07 / 04:43

UPS Strategy Align show NOT Why ITC chose not to demerge hotels in Mukesh Ambani's buy 1 get 1 style

RIL shares ahead of the demerger, shares of Street favourite ITC dropped over 7% in just 2 days following the announcement of the spin-off. After Ambani's 'buy 1 get 1 offer' for shareholders of Reliance Industries (demerger ratio of 1:1), investors were expecting ITC also to opt for a 100% vertical split. But ITC management chose to keep 40% ownership with itself and give away the remaining 60% to existing shareholders.

26.07 / 04:25

Provident FIVE Citizens Manufacturing Strategy country social NRF can help fast-track India's transformation to a knowledge economy

₹50,000 crore for five years and the goal of providing superior strategic direction for scientific research in India. Many previous “ahead-of-their-time" research funding bodies such as the Technology Development Board (TDB), Science & Engineering Research Board (SERB), Global Innovation & Technology Alliance (GITA), and Biotechnology Industry Research Assistance Council (BIRAC) have fulfilled their purposes quite well. However, none of them had the mandate for a broader vision to transform the research and innovation landscape and take India towards a knowledge economy.

26.07 / 01:15

Aware SUN Airlines Strategy electronic end Maharajah's reign as mascot of Air India could end

Tata Group is set to make one of the most visible changes to Air India since the conglomerate took control of the airline last year — the iconic Maharajah mascot will no longer be central to its brand identity. The change is part of a wider brand refurbishment strategy which has been in process since last year. «Air India wants to become the carrier of choice for people flying in and out of India.

26.07 / 00:05

CEO Gap Strategy performer Magellan appoints former funds management exec to its board

Embattled fund manager Magellan has appointed former Janus Henderson co-chief executive Andrew Formica to the board as a non-executive director.

25.07 / 22:37

UPS Provident Strategy Align country voice Lok Sabha passed Biological Diversity (Amendment) Bill

Amid the opposition’s loud protests on the violence in Manipur, Lok Sabha on Tuesday passed the Biological Diversity (Amendment) Bill, 2023 by a voice vote. The bill brings changes to the Biological Diversity Act, 2002 by decriminalising biodiversity offences, among others.

25.07 / 21:35

Provident CEO Strategy Broker LPL acquiring California broker-dealer with 260 advisors

LPL Financial, a firm with a long history of mergers and acquisitions, added to that Tuesday with an announcement that it was acquiring the wealth management business of Crown Capital Securities, an Orange County, California-based broker-dealer and registered investment advisor with 260 financial advisors and $6.5 billion in assets under its roof.

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