Wellness Financial News

MUMBAI : A key striking feature of Britannia Industries Ltd’s June quarter results is its high single-digit volume growth, estimated at 8% year-on-year, a multi-quarter high. However, pricing was weak, so revenue growth has lagged volume growth yet again. Britannia’s consolidated operating revenue increased by 4% year-on-year in the three months ended 30 June (Q1FY25) to ₹4,130 crore as pricing declined.

«So, while there are technical factors like the yen carry trade or the lack of confidence in the AI theme with the returns not commensurate with the investments that are being made in AI, etc, those are probably technical issues related to the market which is triggering some foreign selling,» says Rajesh Bhatia, CIO, ITI MF. The one question that everybody wants to have an answer for is how much should one be having the confidence that it is the kind of uptick that we are seeing on Nifty 50 today, the kind of gains that we are seeing today, how much is that giving you the confidence that yes, we are over the global selloff or do you believe that in the near term there are some more risks that could be there in the room? Rajesh Bhatia: Well, look at it this way. Among the strongest markets in the world today has been the Indian market.

Toyota Kirloskar Motor (TKM), the Indian arm of the Japanese auto giant Toyota, would want to use such technologies that align with its commitment to reducing carbon footprint as well as cutting down on the use of fossil fuels, Deputy Managing Director Swapnesh Maru said, while adding that they are cognizant of India’s energy scarcity and security situation. The TKM veteran, in a chat with ET, said his company had been adopting technologies that help cut down on emission. The company always pursued pathways that led to the best results, and adoption of a single technology would not achieve that, he said. “In a country as diverse as India, there is no one single best technology to achieve our objectives,” the Dy MD said, adding that they would continue to work on a multi-pronged approach for the Indian market. Hybrid vehicles and blended fuels came close to meeting these goals. “Today, energy scarcity and security are one of the biggest challenges. Any technology that will bring down carbon footprint or use of fossil fuel would be our priority.”

Havells India Ltd. traded 0.87 per cent higher in Tuesday's session at 01:19PM (IST). The stock opened at Rs 1761.25 and has touched an intraday high and low of Rs 1810.75 and Rs 1761.25, respectively, during the session so far. The stock quoted a 52-week high of Rs 1986.55 and a 52-week low of 1233.1. About 7,677 shares changed hands on the counter so far.

Ajay Bagga, Market Expert, says Prepare for the worst scenario, do not panic, that is the mantra. I do not think the worst is happening. Re-look at your asset allocation. Do not sell. There is no need to sell India in a scenario like this. Bagga says he has invested in the entire market and bought the indices. There will be a rotation out of sectors and into sectors. He knows the India story and so he bought the 500 indices, and smallcap and midcaps despite the 4% cuts. Bagga also says that this is not 2000, this is still not 2008, there is no contagion yet even though markets across the world are falling but it is not carried positions and contagion that is causing it. Are the markets reacting to yesterday's story or not? After a sell-off of this magnitude, concerns remain over what is happening in global markets and you wonder how insulated India is going to be. What is your view? Ajay Bagga: Definitely, the sentiment has turned quite negative and volatility has increased a lot.

Home essentials are well-covered too, with attractive discounts on air conditioners, washing machines, water purifiers and more. These appliances will enhance your living environment, providing comfort, cleanliness, and convenience.

Shapoorji Pallonji group will provide security cover of six times the loan value it will obtain from Power Finance Corporation, the company said in a press statement on Tuesday. “We are fortunate to work with PFC over the last 9 months to craft a unique proposal, that has a twin security structure leveraging the strength of the SP group’s large real estate franchise, as well as a portion of the Tata Son’s shares owned by the Mistry family”, said Venkatesh Gopalakrishnan, director, group promoters office, Shapoorji Pallonji.

«I do not think that is the only thing that is going on. Though, I think what has happened here is the market was extremely buoyant and arguably priced for something approaching perfection when it got a bit of a wake-up call that the economy was slowing down from last Friday's non-farm payrolls number in the US,» says Arnab Das, Global Macro Strategist-EMEA, Invesco. So, you heard what Jim Rogers, the commodity guru, has had to say, and he says this has been long overdue and these kind of conditions are brought on by a lot of leverage across markets around the world. Do you agree? Do you think that the kind of factors that influence the markets are going to take them down even further? Arnab Das: Well, I think it is certainly a risk. I think there has been a big build-up in public sector leverage in the US and many other countries, particularly in the West, as a result of the pandemic and to some extent, the war in Ukraine. And I think that has been a factor in keeping growth so high and in generating a boom in investment, construction, manufacturing renaissance of sorts in the US. I do not think that is the only thing that is going on.

Middle class’ is a term used rather loosely by individuals wanting to project that they are not as well-off as others think they are. And it has been used extensively on social media since the Narendra Modi government decided to remove indexation benefits available on long-term capital gains made on the sale of property. We have been told by rich mutual fund agents, chartered accountants and registered investment advisors in the business of managing other people’s money that this is an anti-middle class move.

Prakash Padukone observed that shooter Manu Bhaker excelled in the Paris Olympics partly due to the absence of intense pressure. He noted that Bhaker's success in shooting stemmed from not being among the favorites, a factor which often shields athletes from the debilitating pressure experienced by frontrunners. Padukone highlighted that many of India's past Olympic medals have come from athletes who were not expected to perform at such a high level, benefiting from the lack of pressure on their performances. «One of the reasons why Manu Bhaker has done well in shooting because she was not among the favorites. People who are favorites are always under pressure and have not done so well as expected. Most of our medals even in the earlier Olympics have come from people whom we have not expected anything because there is no pressure,» he said. «Olympics is all about handling pressure. All the more important it is more to pay attention to the mind...to train your mind...to do yoga..to do mediation,» he said.

DLF Ltd. gained 3.35 per cent to Rs 837.35 in Tuesday's trade as of 10:09AM (IST). It hit a high of Rs 844.35 and low of Rs 820.8 during the session. The stock quoted a 52-week high price of Rs 967.0 and a low of Rs 461.55. The return on equity for the stock stood at 6.91 per cent. About 106,309 shares have changed hands on the counter so far.

Dating app Juleo which aims to solve the matchmaking crisis has raised $2.5 million in a funding round from Livspace founder Ramakant Sharma, Cred founder Kunal Shah, Acko cofounder Ruchi Deepak, and Groww founders Harsh Jain and Lalit Keshre, among others. The funds will be used for building the team as well as for growth and marketing efforts. “Dating app burnout and mental health issues sadly affect singles globally today. We intend to build a trusted club for singles that provides them with a safe, trustworthy, and responsible service to find real love,” said founder and chief executive Varun Sud.

Tax Intelligence (DGGI) has sent showcause notices to 10 foreign airlines operating in the country, for alleged non-payment of tax amounting to ₹10,000 crore, officials said. They include British Airways, Lufthansa, Oman Air, Emirates and Singapore Airlines, they said. The notices, sent over the past three days, deal with unpaid tax dues on the import of services by Indian branches from head offices, officials said. Airlines are not covered by a June 26 circular on valuation of supply of import of services by a related person, where the recipient is eligible for full input tax credit, an official said. DGGI sought segregated list This is the circular cited by Infosys following a recent integrated GST demand amounting to Rs 32,000 crore.

Paris Olympics medals tally. Moreover, all eyes will be on the 'power of women', starting off with the women's 200m final on the day, that is sadly going to see Jamaica's ace sprinter Shericka Jackson pulling out of the race. However Team USA and Team Great Britain will still be top contenders for a medal finish here in Paris' Stade de France.

Noah Lyles won the Olympics gold medal for the men's 100m sprint and Team USA added yet another gold medal to their rising tally. However, there have been stern discussions around the close finish of the particular finals, that has seen Jamaica's Kishane Thompson finish almost on the same lines with the gold medalist from USA.

Anthony Ammirati has become a social media topic of discussion for netizens across the globe after a small incident that occurred during a qualifying event at the Paris Olympics 2024. Ammirati is a popular pole vaulter who was looking to proceed ahead in the Olympics but also became a social media sensation for all the wrong reasons. How what exactly did he do to become an overnight headline?

Kangana Ranaut on Monday said it is a matter of great honour that Bangladesh leader Sheikh Hasina «feels safe in Bharat» after Hasina resigned as prime minister and landed near Delhi in a military aircraft amid unrest in her country. Ranaut, a national award-winning actor and BJP MP from Mandi in Himachal Pradesh, also criticised those questioning "Hindu Rastra (a Hindu nation)". She claimed that Muslim countries are not safe «even for Muslims». «Bharat is the original motherland of all Islamic Republics around us. We are honoured and flattered that honourable Prime Minister of Bangladesh feels safe in Bharat but all those who live in India and keep asking why Hindu Rashtra? Why Ram Rajya? Well it is evident why!!! »No one is safe in Muslim countries not even Muslims themselves. Unfortunate whatever is happening in Afghanistan, Pakistan, Bangladesh and Britain. We are lucky to be living in Ram Rajya," the 38-year-old MP, who has often courted controversies with her remarks, said in a post on X.

₹57 lakh into the startup, then known as Urban Clap. It was a gamble. Through their venture company, Titan Capital, they were essentially backing an idea.

Smaller and mid-sized registered investment advisor firms are the focus for two new technology offerings from Fidelity Investments.

Mint looks at the reasons behind the global ‘stockocalypse’: Global markets were in a sea of red, led by Japan, where the benchmark Nikkei tumbled 12.40%, marking its largest one-day fall since ‘Black Monday’ in October 1987. The broader Topix index crashed 12.48%. Such was the intensity of the selloff that circuit breakers temporarily halted trading of futures for the Topix as well as the Nikkei 225.

Why SBI is comfortably placed despite slow growth in deposits The rising costs of labour and materials were a particular bother for services providers. Within materials, the cost increase was attributed to dearer eggs, meat and vegetables. Lately, both services providers and manufacturers have been hiking prices to pass on their rising input costs to customers.