UPS Financial News

Jio Financial will be in focus in Friday's trade as the company will announce its second quarter earnings later today. In the run up to the results, shares of Jio have been muted with a fall of over 6%. In the last five days, the stock sinked nearly 4% amid an overall bearish trend in the markets.

Andrew Holland, CEO, Avendus Capital, says it will be a margin story this earning season and the talk is on the pressure on margins and how that can be relieved. Holland does not think there is anywhere to hide at the moment. One can only hide in a bit of cash. So, increasing cash levels for the next few months would not be a bad idea given that earnings are not going to help. We have got the US elections and geopolitical problems plus, China is expected to do another stimulus. All of that plays badly for India in the short term. Did you anticipate this kind of carnage on Bajaj Auto post its numbers? Andrew Holland: It was not the numbers per se, it was more the commentary, wasn’t it? Whilst the festive season has picked up a little bit, it is nowhere near anyone's expectations. So, it has really thrown a damper on the whole market because we are all hoping or the market was hoping that the festive season would start to see a pickup in consumption and that is clearly not likely to happen now. On top of that, we anyway expected a weak earning season across the board. The market valuations does not support downgrades whether it is a company or the sector or the market overall. If the earnings continue like this, we could see another 5% correction from here.

Kamala Harris celebrates her 60th birthday on Sunday, but it's US election rival Donald Trump whose age is under scrutiny after a series of rambling speeches and a bizarre dance party. Seeking to shift the polls in a desperately tight White House race, Harris has ramped up attacks on the mental fitness of the 78-year-old, who is the oldest presidential candidate in US history. «Donald Trump is increasingly unstable,» Democratic vice president Harris said on Wednesday after Trump spent nearly 40 minutes on stage swaying to music at a town hall event.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says there are signs of a pickup in rural consumption in multiple pockets. It is not that uniform, but in pockets, rural consumption is picking up. As things stand today, there is pressure, but we might not have seen the best already. Further, the IT companies which are catering primarily to the BFSI segment or have a skew towards the BFSI segment are expected to win. For Mphasis, 60% plus business is coming from BFSI. Naturally they are the beneficiaries of that and we believe that they will continue to benefit from this trend. Deal wins also will start happening in BFSI. Bandyopadhyay is positive on Infosys as well. Would you concur with the view that Q2 early indication suggests margin weakness and a miss on earnings – more downgrades than upgrades? Sudip Bandyopadhyay: Unfortunately that looks like the scenario. There is definitely pressure and that is getting reflected in the financial numbers which are coming out in Q2. I would think that IT would be an outlier. There is generally a much better performance and much better traction as far as technology companies are concerned, but many other sectors are witnessing pressure. Very clearly the earnings are under pressure. Of course, there is a silver lining that we had a good monsoon and the festive season has kicked in. So the half year can be different. We will have to wait and watch for the festive sales numbers for pretty much all the sectors including automobiles.

Fintech firms which rely on co-lending partnerships with large non-banking finance companies (NBFCs) could be in for more stress, after the Reserve Bank of India’s action on Navi and DMI Finance on Thursday, industry executives told ET. Fintechs typically charge higher interest rates given they cater to the sub-prime category of customers, offering them unsecured credit. With the RBI raising this issue of usurious interest rates, platforms might need to tweak their models. In the fintech world, interest rates can climb up to 35%-40% per annum, depending on the borrower profile. While banks and NBFCs partnered with such fintechs given the demand in the market, this might come to a grinding halt now.

LTIMindtree, sixth largest Indian IT services company reported a 7.7% year-on-year (YoY) rise in net profit at Rs 1251.6 crore. The profit compares with Rs 1,162 crore in September last year. Sequentially, profit grew 10.3% from Rs 1,135 crore. The Mumbai-headquartered IT services company reported a 5.9% growth in consolidated revenues at Rs 9,432.9 crore in Q2FY25 as compared with Rs 8905.4 crore in Q2FY24 and 3.2% rise from Rs 9142.6 crore in Q1FY25.

Bengaluru: Infosys, India’s second-largest IT company, posted a 4.7% increase in September quarter net profit to ₹6,506 crore, slightly below market estimates, from the year earlier. Some deal ramp-ups and an uptick in the key vertical of financial services lifted profit and revenue, which rose 5.1% from the year earlier and 4.2% from the preceding quarter, to ₹40,986 crore.

Subscribe to enjoy similar stories. Bengaluru: Infosys Ltd’s latest quarterly revenue has helped it reclaim the position of India’s second-largest IT services firm, 14 years after Cognizant Technology Solutions Corp. raced ahead of Infosys.

Subscribe to enjoy similar stories. Travel is undergoing a shift and while artificial intelligence is revolutionizing trip planning by providing tailored options for everyone, it may not help solve the deeper issues within the overall experience, the chief of a global travel search platform said. According to John Mangelaars, CEO of Skyscanner, policy decisions across the world—rather than technology alone—will drive changes in the sector.

Subscribe to enjoy similar stories. Private equity investors including Quadria Capital and TPG Capital have expressed initial interest to invest about $100 million for a 20-25% stake in critical care drugs provider Samarth Life Sciences, three people familiar with the matter said. “The transaction is expected to be purely secondary with the promoter group selling some of its stake," one of the people cited above said on the condition of anonymity.

Subscribe to enjoy similar stories. New Delhi: The Union government is assessing the automobile industry's readiness to build vehicles powered by biofuels such as 100% ethanol (E100), even as the industry wants their prices to come down to make a smooth transition, two people with direct knowledge of the matter said. Ministries of road and petroleum separately met with industry executives this month to nudge them to make the shift, the people cited above said on the condition of anonymity.

Nykaa triggered the explosion of beauty and skincare brands in India by fast-tracking and expanding distribution manifold across the country, Stéphane de La Faverie, executive group president of The Estée Lauder Companies Inc, told ET in an exclusive interview. The segment also got a big push during the pandemic when consumers conducted “a lot of deep research on beauty and wellness”, said Faverie who is currently on a visit to India. The Estée Lauder Companies—the second largest cosmetics company in the world after L'Oréal, and the owner of brands such as MAC, Bobbi Brown and Clinique-—will soon start local manufacturing in India, he said.

group insolvency framework under the bankruptcy law. This will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations, people aware of the development said. The framework will be a part of Insolvency & Bankruptcy Code (IBC) amendments that the corporate affairs ministry could introduce in the winter session of Parliament, likely in December, they said. The mechanism could empower the committees of creditors of various bankrupt companies of a group to decide if they need to join hands to speed up resolution and maximise gains or pursue the processes separately, they told ET. It will apply only to a group’s bankrupt companies and won’t extend to its solvent entities, they said.

investors' favour on Thursday after Bajaj Auto guided for lower two-wheeler sales growth in its second-quarter results. Shares of Bajaj Auto — India's largest two-wheeler maker — plunged 13.1% on Thursday, the largest single-day fall since March 2020. The pessimism rubbed off on its peers Hero MotoCorp and TVS Motor, which fell over 3% each. «Bajaj Auto has lowered its estimated growth for the two-wheeler motorcycle industry in the fiscal year 2025 to 5% YoY, down from the previous estimate of up to 8%,» said Shridhar Kallani, research analyst-auto at Axis Securities. «This cautious outlook has unsettled investors and also affected other major two-wheeler manufacturers.»

recession had subsided for the time being when the US Federal Reserve had decided to introduce Federal rate cuts of up to 50 basis points. However, with severe inflation fears coupled with unemployment data again brought in a contemplation of an impending American recession. According to strategist Paul Dietrich, the unemployment levels are running at a very risky rate at this point and the United States could easily be caught off guard with the sudden arrival of a recession in the nation, with nothing to stop it once the job data weakens severely in the backdrop.

Ottawa’s proposed mortgage changes may well give first-time homebuyers a near-term boost in affordability, but could also stoke vulnerabilities in the Canadian economy, a TD Bank economist argues.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

The Arkansas Supreme Court has upheld the wording of a ballot measure that would revoke the license issued for a planned casino

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