Wellness Financial News

Hero MotoCorp recorded its highest ever quarterly revenue and profit after tax in Q1 FY25 as it reported a 16 per cent revenue growth from the same quarter of the previous year at Rs 10,144 crore and PAT at 1,123 crore, an increase of 36 per cent from Q1 FY24. The revenue touched 10,000 crore in a quarter for the first time in the company’s 40-year history. The company sold 15.35 lakh units in the quarter, an increase of 13.45 per cent from the same quarter of the previous year. “We continue to be on the profitable growth journey, crossing Rs 10,000 crore revenue for the first time ever, accompanied by the highest ever underlying PAT. As we surge forward, we are investing behind long term capability building to ensure sustained delivery of growth in future,” said Niranjan Gupta, CEO, Hero MotoCorp.

The UK’s image as a multicultural country is the obvious loser from the far-right violence of the past fortnight, but in time these tragic events may have wider implications for the policing of social media everywhere. The role of X in disseminating often-false information and lionizing rabble-rousers, as well as X owner Elon Musk’s provocative tweets and irresponsible retweets, are all under the microscope.

Passenger vehicle sales in July stood at 3,41,510 units, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday. Three-wheeler sales in the same month were 59,073 units, while two-wheeler sales totalled 14,41,694 units, the data showed. In June, total passenger vehicle sales were recorded at 3,37,757 units, compared to 3,27,788 units in June 2023.

Apollo Hospitals on Wednesday rose 4.2% to its day’s high of Rs 6864.95 on BSE after the company on Tuesday reported a net profit of Rs 305 crore for the first quarter ended June 2024 against Rs 167 crore in the year-ago period. The company’s revenue from operations in the reporting period increased 15% year-on-year (YoY) to Rs 5,086 crore as against Rs 4,418 crore in the last year quarter.

Bhargav Buddhadev, Fund Manager, Ambit Asset Management, warns that few sectors within capex-oriented themes could see selling pressure. “Sectors like roads, railways, defense could see selling pressure given that the government in the recent budget has significantly cut down the budget allocations across these sectors, and in general as well. The Government’s capex budget expenditure, which saw a CAGR of ~12% over FY20-24 reduced to ~9% in FY25 budget estimate,” he says. Edited excerpts from a chat: FIIs have been the biggest sellers in the Indian market in the last few days given all the worries related to recession, reverse carry trade of yen, and other global factors. By when do you think we can start seeing a reversal as far as FII mood is concerned? Bhargav Buddhadev: Earnings should be the biggest driver for FIIs to start re-looking at India.

mutual funds (MFs) and foreign institutional investors (FIIs) were seen pulling out money from at least 13 PSU stocks in the June quarter. Interestingly, small retail investors ended up buying all of them. Q1 shareholding pattern reveals that MFs sold stakes in 28 PSU stocks and FIIs were bearish on 30 such counters. Altogether there were 13 'sarkari' stocks sold by both the big boys of Dalal Street.

₹7,050 crore to ₹26,363 crore in the year through July, reflecting a significant increase in investor interest, said Feroze Azeez, deputy chief executive officer at Anand Rathi Wealth. “The best-performing fund in this category delivered around 80%, while the worst-performing fund achieved about 25%." “The rise in inflows and the launch of new funds—49 in total, with 9 introduced this year—indicates that this investment style has picked up considerable traction," said Azeez. Factor-based investing has been globally recognized since the 1960s as stock-pickers looked for traits that could deliver better risk-adjusted returns than traditional strategies.

Popular ERC-20 meme coin Shiba Inu ($SHIB) is underperforming relative to Bitcoin ($BTC) ($BTC) and Ethereum ($ETH) today as holders exit their positions in search of fresher investment opportunities.

Market Watch, if the market behaves between now and 2029 the same way it did during 1920, it may soar to a new height and reach the point many people can not imagine now. If the Dow Jones Industrial Average registers a growth of 0.79%, as it did in the 1920s, it may touch 150,000 in 2029. But, there are important differences between the two sets of situations as well. The decade-to-date return of the DJIA from January 2020 to August 2021, was a gain of 22.7%, in contrast to a 41.2% loss over the decade-to-date return through August 1921. If Dow Jones’s performance between May 2012 and February 2014 is superimposed on that of between 1928 and 1929, the correlation between the two series certainly looks to be remarkable. It also becomes clear that the prospect of a 1929-like crash is imminent.

Michelle Gass, chief executive of Levi Strauss & Co, said the denim maker's global operations should take a cue from the Indian business in terms of keeping speed, agility and execution of its retail strategy in a market, crucial to achieving its $10-billion annual revenue target, up from about $6 billion currently. «Speed, decisiveness, agility, risk taking and making decisions, India does it really well. Every market has their own local product engine, but the bigger opportunity is operating like this speedy, agile retailer, and taking this culture of the Indian team and bringing that throughout the company is a great opportunity,» Gass told ET in an interview, adding that the Indian team is amongst the strongest it has globally. «This is one of the most dynamic, exciting markets I have been to, and there's so much happening. We have had strength in the market for some time, but they are constantly challenging themselves to be better and evolve and that's what's accelerating our growth here,» she said.

Enforcement Directorate (ED) recently summoned Dabur India chairman Mohit Burman as part of its investigation into an alleged money laundering case related to the open offer made by the Burman family to the shareholders of Religare Enterprises (REL). Also summoned were three independent directors of REL subsidiary Care Health Insurance and the manager of the open offer, said people aware of the development. Most didn't appear in person but sent their representatives. The first round of questions by the federal probe agency is to take their statements and understand and evaluate them. «The probe has commenced and since there are allegations and counter-allegations, those related to the case were summoned,» said one of the persons cited. «Their statements are being studied to evaluate if there is a case of money laundering and if the allegations levelled by the complainant in the predicate offence is indeed true.»

Narendra Modi is planning to visit Poland and Ukraine between August 21 and 23 with a message of dialogue and diplomacy amid intensification of Russia-Ukraine conflict. It comes just over a month after Modi visited Russia and Austria. This will be an Indian PM's first visit to Warsaw in over four decades despite Poland being India's largest trading and investment partner in central and eastern Europe. From Warsaw, Modi is expected to go to Kyiv on a half-day visit, ET has learnt.

Essar Oil and Gas Exploration and Production will invest up to ₹3,000 crore on its flagship coal bed methane (CBM) block in Raniganj, West Bengal to raise gas production, a senior company executive said. «We are determined to raise our contribution to India's overall gas output to 5% in the next five years from 1% currently. We plan to invest around ₹3,000 crore to reach this target,» said Pankaj Kalra, CEO of Essar Oil and Gas Exploration and Production. Kalra added that the company has an acreage of 500 sq km, of which it has only harnessed 70 sq km. «So over 80% is still to be harnessed.»

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...

Goods and Services Tax (GST) Council will hold its next meeting in September to discuss the pending reforms and to kick-start rate rationalisation for goods and services. «The 54th Meeting of GST Council will be held on 9th September, 2024, at New Delhi,» the council said in a post on social media platform X. It will also take up the issue of removing duty inversion under GST,

Consumers spent more at small businesses in July, a rebound fueled by strong sales of general merchandise and health and personal care products

Mint. His statement came on the sidelines of the global unveiling of Google's latest smartphones—the Pixel 9 series. This is the first time that the company launched its entire portfolio of new smartphones, as well as accessories such as the Pixel Watch 3 smartwatch and and Pixel Buds Pro 2 pair of earphones, in India.

Hero MotoCorp Tuesday beat street estimates to report a 36% increase in net profit at Rs 1122.63 crore for the three months ended June 30, 2024 driven by steady recovery in motorcycle sales in the local market and higher average selling price of vehicles. The company had reported net profit of Rs 824.72 crore in the corresponding period of the last financial year.

Karnataka BJP unit has come to the fore with sections of leaders holding secret parleys and planning a separate padayatra against the ruling Congress in North Karnataka, next month. The group does not want to involve the State unit president BY Vijayendra in an apparent challenge to his leadership. A dozen of them met in Belagavi on Sunday on the pretext of chalking out plans for the padayatra, but the discussions were focused around the 48-year-old leader’s style of functioning and how they could rein him in, sources said. Some of those who attended were former MLAs and MPs.

If I were an Albertan, I’d be steaming mad about the tariffs that are obviously coming on inexpensive Chinese electric vehicles — steaming more than fresh cowpie on a prairie winter morning.

The Parliamentary Budget Officer released a report last week that estimated the federal government will raise $17.4 billion in extra tax revenues over the next five years as a result of the proposed capital gains inclusion rate increase to two-thirds from 50 per cent. The federal budget, however, estimated the increase would raise $19.3 billion over that time frame. That $1.9-billion difference, or 9.8 per cent, is material.