Wellness Financial News

Recession fears led to a sharp stock-market selloff in recent days, with the S&P 500 index posting a 3% loss Monday, its worst in almost two years.

₹2,302.97 in FY24, RBL’s losses widened by 55% to ₹288.4 crore from last year's ₹185.16 crore. The increase in sales did not translate into profitability for brands like Diesel Fashion India and Paul & Shark which RBL controls. RBL began operations in 2007 and has a portfolio of brand partnerships comprising Dune, Hamleys, Pottery Barn, Tory Burch and West Elm.

Shopify SHOP.TO beat analysts’ estimates for second-quarter results and forecast upbeat sales growth as its AI-enabled tools attracted more merchants to its e-commerce services, sending its U.S. shares up 17% before the bell on Wednesday.

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(Bloomberg) -- Billionaire Gautam Adani’s flagship firm is considering raising around 100 billion rupees ($1.2 billion) to 120 billion rupees through a share sale, according to people familiar with the matter, a move that would follow a separate recent fundraising deal at his power transmission unit. Adani Enterprises Ltd. may seek to raise funds through a so-called qualified institutional placement, or QIP, the people said, asking not to be identified because the matter is private.

Finance Minister Nirmala Sitharaman on Wednesday while replying to the discussion on the Finance Bill in Lok Sabha said, «Without drastically increasing taxes, we have brought in a simplified taxation regime, eased compliance.» Effective tax on annual income of Rs 15 lakh was reduced to 10 per cent in 2023 and further reduced this year as well under new I-T regime, said FM. «The vision of PM Modi has been to establish a simple, efficient and fair technology-driven taxation regime in this country. So, simplification and ease of compliance for the taxpayer has been the primary objective with which in the last 10 years, and this year, in the third term of PM Modi, the approach to taxation has been to simplify it, reduce the burden on taxpayer and make sure it is transparent and Equitas,» said Sitharaman.

Nirmala Sitharaman replied to the discussion on the Finance Bill in Lok Sabha on August 7. The passage of the Finance Bill by Parliament completes the budget process. The Appropriation Bill for the central government's expenditure for 2024-25 was passed by the House on Monday. Without drastically increasing taxes, the govt has brought in simplified taxation regime and eased compliance, the FM said.

Tenders for enhancing grain storage capacity are awarded through a transparent, online process that many states governed by INDIA bloc parties have also adopted, Union Food and Public Distribution Minister Prahlad Joshi said on Wednesday. The issues of food storage capacity increase and privatisation of Food Corporation of India (FCI) godowns were addressed in the Lok Sabha on Wednesday, with Joshi responding to questions from Trinamool Congress (TMC) MP Sudip Bandyopadhyay. Bandyopadhyay raised concerns about the sufficiency of the storage capacity at FCI godowns and the involvement of a private entity in the sector.

German authorities say that part of a hotel in Germany collapsed, leaving two people dead and three others trapped in the wreckage

Mukesh Ambani, who had voluntarily decided to forego his salary from Reliance Industries (RIL) during the peak of the Covid crisis in 2020, continues to draw no salary from the conglomerate for the fourth year in a row. RIL's latest annual report shows that Ambani did not take any salary from the company in his capacity as the Chairman and Managing Director.

wrestler Vinesh Phogat after she was found to be overweight ahead of her 50kg category Olympic final, legendary cricketer Sunil Gavaskar said here on Wednesday. Vinesh was disqualified from taking part in the final for being overweight by 100 grams. Gavaskar said that the Indian Olympic Association (IOA) as well as the Indian government must do everything possible to address this. «I think it's (the) most unfortunate. I also think it's (the) most unfair. I do hope that the authorities will take notice of it, take a strong response to this because this is not just the initial round,» he told reporters on the sidelines of the Spartan racing event here.

Quant Small Cap Fund, the largest in the category managed by Quant Mutual Fund, increased its exposure to HFCL, Aditya Birla Fashion and Retail, Sun TV Network in July whereas reduced stakes in National Aluminium Company, Vimta Labs. In its July portfolio, the smallcap fund added 2.71 crore shares of HFCL, taking the total number of shares to 7.37 crore from 4.65 crore in June. The fund held 1.17 crore shares of Aditya Birla Fashion and Retail in June, and the total count stood at 2.94 crore in July after adding 1.77 crore shares to its portfolio. Quant Small Cap Fund added 87.12 lakh shares of Sun TV Network, which made the total number of shares in the portfolio at 93.95 lakh in July from 6.82 lakh shares in June. Around 67.79 lakh shares of Apeejay Surrendra Park Hotels were added to the portfolio.

Probal Sen, V-P-Equity Research, ICICI Securities, says there is a reasonable dividend yield in NGC and Oil Insia and the return ratio should start to show an improvement, specifically for ONGC and to a lesser extent with Oil India, despite all the strength, I think there is still some steam left in these two stories. When did you last look at ONGC so closely after decades of tracking the energy space? Does it merit the big upgrade coming in? Three of your peers in the industry have done it. Probal Sen: We have had a positive stance on ONGC over the last year. I am surprised by the extent of the reaction. To be honest, I do not think that the production guidance that the company gave was anything new compared to what they have been anyways saying for the last three quarters.

«There may be years where you might see a muted volume growth of about 5-6-7%, but the value growths are far more higher and that is probably reflected in some of the results, like the Maruti results that we have seen for the last the entire financial year 24 and also the first quarter of financial year 25, where the value growth in terms of the revenue, gross profit, EBITDA, is in high double digits,» says Sachin Shah, Emkay Investment Managers. Let us begin by discussing the auto space itself. Quite a few launches lined up. There is the expectation of rural recovery as well. But at the same time, these stocks have run up quite substantially over the last couple of years in terms of the stock price. How do you weigh the risk-reward for this sector right now? Sachin Shah: So, clearly, within the auto, we have three large segments. One is, of course, the passenger vehicles, then you have two-wheelers, and then commercial vehicles. All the three segments have done exceedingly well in the last two-three years now. And the underlying theme between particularly in the passenger vehicle segment which is what you were referring to earlier is largely the game of premiumisation.

As of 12 noon, the public issue was subscribed nearly 5 times. The retail investors’ category was oversubscribed 19.13 times. The non-institutional investors (NIIs) filled 5.42 times of the portion allotted to them, while merely 23,184 shares were bid by qualified institutional buyers out of the reserved 76,82,554 shares.

qualification round made quite a statement but a tough challenge awaits defending champion Neeraj Chopra as he seeks another piece of history in the Paris Olympics men's javelin throw final round here on Thursday. Just like he did at the same stage in the Tokyo Olympics three years back, Chopra needed just a few seconds to top the qualification round with his opening throw but the similarity ends there. This time, the quality of the field is better than Tokyo with nine throwers crossing the automatic final round qualification mark of 84m in Paris as against six in Tokyo. Out of the nine, five made it to the final round with their first throws and thus will have a lot in their tanks for the medal round. The 26-year-old Chopra knows it too well, having been in the global circuit for more than eight years.

«Everything that we manufacture in our new plant, which is already operational, the module plant is fully operational, and the cell plant will become operational in this month and next month. So, we will become very-very resilient in terms of our supply chain and also consistency in terms of quality and the price of the modules,» says Praveer Sinha, CEO & MD, Tata Power. Let us talk about solar rooftops because you also are a very important player in that. Tell us, what is your current market share? What are the plans going forward? How is it that you plan to scale this up? Praveer Sinha: So, we have already completed more than 100,000 rooftop solar houses. We are the biggest in the rooftop business. In the organised sector, we have more than 20% market share. We have huge plans to work with the government, especially the PM Surya Ghar Programme, and we are enhancing our capability both in terms of our channel partners, as also in terms of the reach that we will have with our own teams and the supply chain. So, over a period of time, you will see that we will become one of the biggest players of the rooftop solar in the country.

Manish Gunwani, Head-Equity, Bandhan AMC, says while they own PSUs, they do not trust any single PSU too much, because the government has a habit of changing regulations periodically. So, they have a string of pearls in select PSUs, 1-1.5% kind of holdings. Gunwani says Bandhan AMC’s bigger overweights right now are healthcare, internet, and telecom on the defensive side and real estate, power, and capex-related stocks on the cyclical side. What do you make of the construct of the market? We had a scary fall on Monday and looks like a lot of collateral damage has already been done. Manish Gunwani: I would prefer to be a bit cautious. A lot of returns are being made in cyclical sectors and tactically it is because of valuations and the Indian rupee has also outperformed a lot. Also, given the election result, the policy focus is still to be seen. So, overall, in a bull market, there are periods where one needs to be tactically cautious. We will go through some consolidation. I do not expect any big drawdown because liquidity looks fine.

"EPC margins have been under stress because there was a lot of inventory that was lying with us, which we had procured last year before the 31st March deadline and those are now getting utilised in various projects," says Praveer Sinha, CEO & MD, Tata Power. Just looking at your numbers, while Mundra did well, the renewable PLF was low and lesser margins across the solar EPC as well. When do you anticipate better performance from renewable energy generation specifically? Praveer Sinha: Well, this is the 19th consecutive quarter in which we have shown growth impact. And I think the way the company is structured now and the foundation that has been laid, you can expect only better results going forward. As you mentioned, Mundra has been cost reflective because it is operating under Section 11 and this will continue for at least one more quarter if not more. The second is we are also seeing an uptake in our renewal business. EPC margins have been under stress because there was a lot of inventory that was lying with us, which we had procured last year before the 31st March deadline and those are now getting utilised in various projects.

Rahul Gandhi on Wednesday called on the government to declare the recent calamity in Kerala's Wayanad a national disaster. Speaking during Zero Hour, Gandhi also demanded higher compensation for the people affected. Emphasising the need to declare the Wayanad landslides a national disaster, he said, «I saw it with my own eyes. I visited many different places where the disaster took place. In some cases, an entire family is gone, with just one person remaining, sometimes an adult or a child.» He also expressed his gratitude to those who helped during the disaster.

«So, the last two days was a very good buying opportunity. Today, intraday, we may be seeing a little bit of selling, but I think things have stabilised here. Most global markets have started to rebound and we should be heading higher from here,» says Rohit Srivastava, Strike Money Analytics. Last two days, sell-on-rally is the kind of market we have seen. Are you representing the bulls who have been struck? Or are you from the bear side? Whom do you represent today? Rohit Srivastava: I think the last two days, we have a complete bunch of readings, which are extremely oversold. We have our own proprietary swing indicator, which reached a reading of 3 on Monday and our average swing which reached a reading of 11.