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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.

revenue growth in the past eight years. Against an expectation of around 5% revenue growth, Nestle India posted revenue growth of 1.3% on back of some of its key brands witnessing pressure due to softer consumer demand. The profitability also suffered on account of inflationary prices of coffee and cocoa. The operating profit margin corrected by 100 bps to 23.4%. Raw material cost stood at 43.6% of revenues-same as the year ago elevated level of 43.7%. It has increased its investment in advertising and marketing during the quarter. Other expenses (as a proportion of revenues) increased to 23.6% against corresponding year-ago level of 21.6%. Despite this, muted consumer demand ensured that only five of the company's top 12 brands grew at double-digits.

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.

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.

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...

Bill Lawrence, has shared the potential plot ideas.

Just weeks before the U.S. presidential election, TikTok still approved advertisements that contained election disinformation even though it has a ban on political ads

Nearly 90,000 tabletop fire pits are under recall after flames shooting out from them resulted in a handful of serious burn injuries

Universal Orlando Resort will open its fourth central Florida theme park, just in time for Memorial Day next year

The number of Americans filing for unemployment benefits last week came back down to more recent ranges after a big jump the week before due to hurricanes in the Southeast

Hammond, who is also head of international distribution for iM Global Partner and CEO of iM Global Partner UK, is departing to pursue other business and personal interests. A spokesperson for the firm told Investment Week: «The company wishes Jamie well in his future endeavours and appreciates his contribution over the last three years in building the international business and positioning iM Global Partner for the future.» iM Global Partner appoints Jamie Hammond as deputy CEO and head of distribution for EMEA Hammond took on the role in 2021, having joined from Alliance Bernstein...

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ITC Limited, India’s leading multi-business conglomerates, has commissioned its second offsite solar plant in Karnataka with a capacity of 9.45 MW in the Davangere district. The facility is ITC’s 4th offsite solar plant in the country, with similar units earlier built in Tamil Nadu, Uttar Pradesh and Karnataka. The company had set itself the target to meet 100% of electricity requirements from renewable sources by 2030 as a part of its ambitious Sustainability 2.0 Vision. In FY 2023-24, over 50% of ITC’s total energy requirements were already met from renewable sources such as solar, wind and biomass. Total Energy includes electrical energy as well as thermal energy.

The Intern”. And what a find it was. The movie was completely different from what I was expecting. Contrary to what its name suggests, it’s not about a 20-year-something student joining an internship programme. Instead, it is about a 70-year-old joining an internship under a millennial founder and how these two absolutely different individuals help each other experience growth. In fact, the movie had numerous valuable career lessons. Here are some notable ones that you might want to check out:

NSE Nifty hit a two-month low during the session. The 30-share BSE Sensex fell by 495 points, or 0.61%, to close at 81,006, while the broader NSE Nifty slipped 221 points, or 0.89%, ending at 24,749.8.

In conditions more reminiscent of Christchurch than Karnataka, Matt Henry bagged 5-15 while fellow speedster William O'Rourke sparkled in his first game in India with 4-22 to skittle the hosts shortly after lunch. The 46 runs were the fewest in an innings by any team playing in India, well short of the 62 the Black Caps managed against the hosts at Mumbai three years ago.

Indian Railways has reduced the time window for advanced booking of seats in passenger trains. According to a circular issued by the Railway Board, time limit for Advance Reservations has been reduced from 120 to 60 days (excluding date of journey). This new diktat will be applicable from November 1 onwards so bookings can be made under the 120-day Advance Reservation Period (ARP) till then. Existing bookings under the earlier ARP will remain intact as well. This reverses a decision taken in March 2015 to increase the window of booking. There will be no change in the case of certain day time express trains like Taj Express, Gomti Express, among others where lower time limits for Advance Reservations are already in place. There will also be no change in the case of limit of 365 days for Foreign Tourists, the order said.

«Going by the monthly put options on the Nifty seems like a good idea where we feel that these put options can double or even possibly triple from the current levels,» says Rahul Sharma, JM Financial Services. Third straight day of decline and today it is around 200 points down, that is what we are looking at the benchmark. Where do you see support levels to come in for the Nifty? Rahul Sharma: Clearly, this is another breakdown in the works and Nifty seems like the 24,700 low that we made on the 7th of October should be broken anytime soon. Well, the meaningful support is placed in the vicinity of 24,500, 25,400. So, another 300 to 400 points can be taken off from the current level. And we feel that there is still some time for the capitulation to happen.

The family of West Virginia Gov. Jim Justice, a Republican candidate for U.S. Senate, says it has paid off debts to avoid the foreclosure of their iconic hotel, The Greenbrier

Subscribe to enjoy similar stories. Retail inflation estimates for September 2024 released earlier this week based on the Consumer Price Index (CPI) have confirmed fears of an upswing driven by food prices. Rural retail inflation is at 5.9% and the urban figure at 5%, with overall inflation at 5.5% on a year-on-year basis.