Wellness Financial News

₹5,615 crore in the June quarter (Q1FY25), slightly above Street estimates. Profitability was led by robust execution of international projects, while domestic ones remained subdued. The strong pipeline of orders worth ₹4.9 trillion – three times the trailing 12 months revenue of L&T’s core projects & manufacturing (P&M) business – should aid the growth momentum.

Colgate ka to gate khul gaya, Nestle ka to panchhi urne wala hai, Pantene ka to pant gila hone wala hai, aur do saal me Unilever ka lever kharab ho jayega (Colgate’s gate has opened; Nestle’s bird [the Swiss company’s logo] has flown, Pantene’s pants are going to get wet, and in two years, Unilever’s lever will fail)." A month earlier, speaking to reporters in Bengaluru, he had said, “Colgate will be below Patanjali by this year (in terms of revenue), and in three years, we will overtake Unilever." Such was his confidence back then that Patanjali Ayurved, the company he had co-founded with Acharya Balkrishna, would send the multinational corporations (MNCs) that had lorded over India’s fast-moving consumer goods (FMCG) landscape for decades packing. In the end, however, the Patanjali founders failed in that endeavour as the MNCs took a leaf out of their ayurvedic playbook to beat them at their own game.

Supreme Court on Thursday sought a response from the Uttar Pradesh government on MLA Abbas Ansari's plea seeking bail in a case where he has been accused of threatening various people to extort money while using the mobile phone of his wife who used to visit him in Chitrakoot district jail where he was lodged. Ansari, an MLA from Mau assembly constituency, has moved the apex court challenging the May 1 order of the Lucknow bench of Allahabad High Court which had rejected his bail plea in the case.

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a central government scheme that offers income support to all landholding farmers' families in the nation to help them meet their needs for domestic needs as well as various inputs related to agriculture and related activities.

JK Cement have reinforced analysts’ optimism about the company’s ability to perform better than its peers. The company’s first quarter numbers were in line with analysts’ estimates. In a quarter where demand was affected due to slow down in construction activities, heat wave and labour shortage, the company’s net sales grew by 1% year-on-year to Rs2,719 crore. Net profit grew by 67% to Rs185 crore. A focus on expansion and tighter cost control are the two major factors that set JK Cement apart from mid-tier peers. Capacity expansion has helped the company gain market share in various geographies. At present, over 60% of its cement capacity caters to the northern region followed by 19% and 16% to the central and the southern regions respectively. The remaining 5% capacity is sold in the western region. In its post earnings’ conference call, the company announced a plan to increase capacity two-folds by FY30 from the present capacity of 24MT.

evacuated to safety on Thursday following flooding in Sinhagad Road and some other areas along the riverbank in Pune city due to incessant rains, officials said. Two columns of the Army were deployed in Sinhagad Road area which was severely affected by flooding, they said.

Privacy Commissioner of Canada has opened an investigation into allegations that some Loblaw customers have been unable to delete their PC Optimum accounts.The office has received several such complaints, spokesman Vito Pilieci said in an email Tuesday.He said the office can’t comment further due to the active investigation.Loblaw spokeswoman Catherine Thomas said in an email Tuesday that the company has processes to respond to account deletion requests in a timely manner, and that it will fully co-operate with the privacy commissioner’s office.In an email to one complainant viewed by The Canadian Press, an investigator for the commissioner’s office said they have received “a high number of complaints” regarding attempts to cancel PC Optimum accounts.Several complainants allege they have tried several times to delete their accounts, and that Loblaw has been unresponsive to their queries, the investigator wrote.Loblaw did not respond to a request for comment Wednesday regarding the specifics in the email.The PC Optimum loyalty program has more than 16 million active users, according to Loblaw’s 2023 annual report.The Office of the Privacy Commissioner oversees compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA) as well as the Privacy Act.According to their website, PIPEDA “sets the ground rules for how private-sector organizations collect, use, and disclose personal information in the course of for-profit, commercial activities across Canada.”Personal information under PIPEDA includes details such as a person’s name, age, income or ID number.

PG Electroplast zoomed 16% to its new all-time high of Rs 464.85 on BSE today after the company on Wednesday reported that its consolidated net profit rose 151.2% to Rs 84.93 crore for the June quarter. The same stood at Rs 33.81 crores in Q1FY24.

Mankind Pharma, India’s fourth largest pharma company by market share, is all set to acquire BSV Group, formerly Bharat Serum & Vaccines, from Advent International for around Rs 14,000 crore ($1.67 billion), people aware of the development told ET. Mankind will be trumping a rival bid from a consortium of EQT and Abu Dhabi Investment Authority (ADIA).

Olympic tennis gold medalist Andy Murray pulled out of singles at the Paris Games on Thursday and only will compete in doubles with Dan Evans.

N Jayakumar, MD, Prime Securities, says “large swathes of India are okay that the people who are making more money are paying a little more and in some form or shape through the government is coming back to us. These may be socialistic streaks, but it is also a reality. There is a co-existence of the billionaires along with the looting of shops in San Francisco and in different parts of the US. The same is true in Europe as well. Social unrest is out on streets in many parts of the world and heavens forbid we have anything like that here.” Do you agree that more than the capital gains adjustment, it is the global cues that are going to be dictating to the Indian market as is the case this morning? N Jayakumar: And indeed that should be the case. All said and done, the budgets come and go. The roadmap has been re-emphasised and laid out again. If it means taking a little more from the people who are “making a lot of money,” which is through the markets, it is par for the course. I do not have an issue with that. Growth needs to be inclusive.

«So, if you see what we build up for the domestic business, the 5% volume growth and overall, the 9% top line growth for the company, but again the numbers are not pretty well for the company and also as I said earlier that the volatility in the raw material prices, especially in the cocoa and the coffee prices,» says Preeyam Tolia, Axis Securities. What is your first outlook coming in for Nestle India? The numbers they seem to be below estimates, at least for ET Now poll. Preeyam Tolia: Yes, the numbers are below our estimate as well in terms of the top line as well as on the margins front. So, please note that there is inflation in the raw material prices which has also impacted margins. At the same time, the volumes have not picked up as per the anticipation. So, the numbers are pretty weak for Q1.

The home of the Philadelphia Flyers and the 76ers — well, the Sixers, for now — will soon need a new name

Disney has reached a tentative agreement with four unions representing thousands of workers at its California theme parks including ride operators, candy makers and parking attendants

When helping others, volunteers also help themselves

Family offices of millionaires are likely to increase capital allocation to new-age companies, following the budget proposals to bring parity on long-term capital gains (LTCG) tax across all financial assets and abolish the angel tax.

IT industry has raised concerns with the Indian government around Singapore's new framework for skilled worker visas, saying it could hinder ease of doing business due to the existing skills shortage.

Cred is launching a new offering called Cred Money for users to manage bank accounts.

After his first full year as the Duke of Cornwall, Prince William earned over $42 million in 2023, according to a newly released royal report.

US Presidential Election. The betting market is also closely watching these developments. The announcement by President Joe Biden that he has quit the race and endorsed Kamala Harris has been well received by the betting market. This has been reported by Sky News.

Private sector activity in India rose to a three-month high of 61.4 in July from 60.9 in the previous month, the HSBC Flash India Composite Output Index showed Wednesday. Backlogs of work rose further, prompting the best upturn in employment in over 18 years, according to the survey report.