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Logistics aggregator Shiprocket and air cargo handling company Cargo Service Centre (CSC) have been selected by the government on a pilot basis to set up ecommerce export hubs in the country, a senior official said on Thursday. The ecommerce export hubs (EECH) will come in and around Delhi airport and begin operations in February next year, Director General of Foreign Trade Santosh Kumar Sarangi told reporters here. While Shiprocket is headquartered in Gurugram, the CSC is Mumbai-based.

Allcargo Logistics has clocked a net sales of Rs 689.80 crore in Q2 of FY25 up 79.43% from Rs 384.43 crore in Q2 of FY24. The quarterly net profit of the company stood at Rs 36.99 crore in Q2 of FY25 up 161.04% from Rs. 14.17 crore in Q2 of FY24. EBITDA of the company stood at Rs 30.66 crore in September 2024 up 28.02% from Rs 23.95 crore in September 2023.

Hero MotoCorp on Thursday reported 14% growth in its standalone net profit at Rs 1,204 crore in the second quarter. It was Rs 1054 crore in the year-ago quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 10,463 crore.

Subscribe to enjoy similar stories. There’s never a great time to infuriate your most loyal customers. For Sonos, the timing couldn’t have been worse.

Delhivery posted a consolidated net profit of Rs 10 crore for the quarter ended September 30, 2024 against a loss of Rs 103 crore in the year ago period. However, the profit was down by 81% from Rs 54 crore reported in the June 2024-ended quarter. The consolidated revenue from operations stood at Rs 2,190 crore which was up by 13% over Rs 1,942 crore posted by the logistics and supply chain company in the corresponding quarter of the previous financial year. On the sequential basis, the revenue was up by 0.80% versus Rs 2,172 crore reported in Q1FY25.

small businesses in India get paid faster, according to the Reserve Bank of India (RBI). The system, called TReDS, allows small businesses to sell unpaid invoices to banks and other financial institutions. “TReDS has effectively bridged the credit gap by enabling MSMEs to promptly convert their trade receivables into liquid funds. This ensures that small businesses do not have to wait endlessly for payments,” said RBI Deputy Governor Michael Patra. Small businesses often struggle to get paid on time by their larger customers. This delay can make it hard for them to pay their own bills and grow their businesses.

Zydus Wellness Ltd.(up 4.95%), Gopal Snacks Ltd.(up 4.43%), Tasty Bite Eatables Ltd.(up 4.30%), Bajaj Consumer Care Ltd.(up 3.08%), Adani Wilmar Ltd.(up 2.35%), Honasa Consumer Ltd.(up 2.01%), ADF Foods Ltd.(up 2.01%), Parag Milk Foods Ltd.(up 1.47%), Varun Beverages Ltd.(up 1.33%) and Hatsun Agro Products Ltd.(up 1.32%) stood among the top gainers.

Lexus Granito(India)Ltd.(up 6.12%), Ashapura Minechem Ltd.(up 6.00%), Sandur Manganese & Iron Ores Ltd.(up 2.95%), Oriental Trimex Ltd.(up 1.94%), Pokarna Ltd.(up 0.81%), Coal India Ltd.(up 0.71%), The Orissa Minerals Development Company Ltd.(up 0.38%) and Gujarat Mineral Development Corporation Ltd.(up 0.31%) stood among the top gainers.

These high-performing stocks that rallied more than 10% during the session included, Netlink Sol(12.86%), Bemco Hydraulic(12.56%), Mahalaxmi Rub(11.91%), Niyogin Fintech (11.53%), AXISCADES Engg Tech(11.06%), Informed Tech(11.01%), Bang Overseas(10.85%), Natura Hue Chem(10.85%), Sterling Tools(10.55%) and The Anup Engg(10.54%).

Shares have opened higher in Europe after mostly falling in Asia following a report showing inflation in the U.S. was roughly as expected last month

Subscribe to enjoy similar stories. The International Energy Agency lifted its forecast for this year’s oil-demand growth but slightly trimmed next year’s estimates, citing the impact of China’s economic slowdown on consumption. The Paris-based organization forecasts global demand to grow by 921,000 barrels a day in 2024 from 862,000 barrels a day previously, largely due to stronger-than-expected gasoil deliveries in OECD countries.

JPMorgan index, so far in November, according to clearing house data on Thursday. A rise in U.S. yields along with a stronger dollar have driven the selling, traders and analysts said. They expect the outflows to persist until global market volatility settles.

STOXX 600 rose at the open on Thursday, led by energy and technology stocks, as upbeat earnings supported gains in the benchmark. The pan-European STOXX 600 was up 0.3% as of 0813 GMT, although it was pinned near its lowest level in three weeks.

India International Trade Fair (IITF) set to commence Thursday at Pragati Maidan, the Delhi Traffic Police has released an advisory to manage anticipated high volumes of traffic. The advisory comes as nearly 60,000 visitors are expected daily, with the number likely to surge to 150,000 on weekends and holidays.

United Nations and other international organizations are bracing for four more years of Donald Trump, who famously tweeted before becoming president the first time that the 193-member UN was «just a club for people to get together, talk and have a good time.» In his first term, Trump suspended funding for the U.N. health and family planning agencies, withdrew from its cultural organisation and top human rights body, and jacked up tariffs on China and even longtime U.S. allies by flaunting the World Trade Organization's rulebook. The United States is the biggest single donor to the United Nations, paying 22% of its regular budget. Trump's take this time on the world body began taking shape this week with his choice of Republican Rep. Elise Stefanik of New York for US ambassador to the UN. Stefanik, the fourth-ranking House member, called last month for a «complete reassessment» of US funding for the United Nations and urged a halt to support for its agency for Palestinian refugees, or UNRWA. President Joe Biden paused the funding after UNRWA fired several staffers in Gaza suspected of taking part in the Oct 7, 2023, attack led by Hamas.

Subscribe to enjoy similar stories. While there is no official ban on releasing Pakistani films in India, theatre owners say the main fear is one of opposition from local community groups and vandalism in cinemas. The release of Pakistani hit The Legend of Maula Jatt, which was scheduled in India last month, was called off after strong opposition from political groups and a stay by the government.

Laurence Balanco of CLSA says Nifty has completed this topping pattern that had formed between August and October – the classic head and shoulders reversal – and that still gives a downside target around 22,800. The midcap sector has also rolled over from the rounding topping pattern that we have had for the past six months and not yet met the minimum downside targets. There is no evidence of slowing in downside momentum and the relative underperformance continues. Be patient and wait for those opportunities to develop. Balanco also says that while we have been down for roughly a quarter, the consolidation can take another quarter. So, this is a process of three to six months which will give us a platform for a resumption of the longer-term uptrend. Let us understand the way the world is getting divided. There is an emerging market basket which is moving lower and then there is a developed market basket which is moving higher. I am mainly talking about the US market here. Do you think there is a sizable disconnect between what the developed markets are doing versus where emerging markets are moving? Could that extend for another quarter or so? Laurence Balanco: It is quite interesting.

Marc Miller on Wednesday said “the age of unlimited supply of cheap foreign labour is over,” and that employers may need to offer higher wages to attract more Canadian workers.Speaking to reporters after addressing the Greater Vancouver Board of Trade, Miller also suggested the federal government may be looking at boosting enforcement resources to crack down on irregular migrants who don’t leave Canada, and addressed the need for mutual enforcement of the Safe Third Country Agreement with the U.S.Miller said it’s important to address what is sometimes a “very disproportionate relationship between employers and employees” when it comes to low-cost temporary foreign workers.“There are exploitative relationships that exist, and we need to crack down on them.

Tata Power Company Ltd. traded at Rs 409.15 on BSE at 10:24AM (IST) on Thursday, 2.53 per cent from previous close. The scrip quoted a 52-week low price of Rs 256.95 and a high of Rs 494.85.

Mankind Pharma Ltd.(up 4.03 per cent), Gland Pharma Ltd.(up 1.78 per cent), Laurus Labs Ltd.(up 1.76 per cent), Granules India Ltd.(up 1.06 per cent) and Aurobindo Pharma Ltd.(up 1.01 per cent) were among the top gainers.

rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors. Forex traders said the downward pressure on the USD/INR pair is largely driven by persistent inflation and significant foreign outflows. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close.