Wellness Financial News

Vedanta Ltd is likely to see less pressure on cash flows after liability management at the holding company level and is now best placed to ride rising commodity prices, analysts said. Improved performance in aluminium, power and zinc enabled the company to turn in EBITDA of Rs 87,600 crore in the January-March quarter, up by 4 per cent quarter-on-quarter. The improved performance was attributable to lower cost of production in aluminium and zinc and higher sales volume, partially offset by softer zinc prices. Despite marginal delays, Vedanta is set to complete its alumina/aluminium/ international zinc expansion during the current fiscal year (FY25), which will provide visibility around volume growth and cost reduction FY26 onwards. The start of coal mines in FY26 shall further lower its aluminium cost of production. In a post earnings note, Nuvama Institutional Equities said management is moving ahead to demerge the businesses by end of current fiscal (April 2024 to March 2025). The vertical split of its businesses into six listed entities can yield Vedanta higher-than-the-current value.

Also read: Why should women understand and manage personal finance? In 2000, when India was the 13th largest economy, the Sensex reached its all-time high of 5,934 points. Ten years later, when India became the 10th largest economy, the Sensex had notched 21,005. In 2020, when we were the sixth largest, the all-time high was 47,751.

NEW DELHI : Indian hotel companies booked record profits in the just concluded financial year riding the long tail of revenge tourism. But this summer’s delivered a reality check. Large hotel chains including Hyatt, Marriott and Taj face a double whammy this year as they navigate a scorching summer as well as seasonal lulls amid the ongoing Lok Sabha election.

Direct link to apply: https://jeeadv.nic.in/applicant Indian Institute of Technology Madras (IIT Madras) has started the application process for Joint Entrance Examination Advanced (JEE Advanced 2024) at the official website, jeeadv.ac.in.

Stock Market News: Following a five-day surge, the domestic benchmark indices, the Sensex and Nifty 50, buckled under selling pressure on Friday as investors reduced their exposure to banking, and financial stocks amid mixed global cues. According to reports, traders stated that continuing outflows of foreign funds, a falling rupee, and rising global crude prices further weighed on sentiments. Sectoral indices were mixed bag; the Nifty Consumer Durables index finished 1.72% higher than the Nifty Financial Services index, which ended 0.89% lower.

Also Read | India seeks 'root cause of rejection' from Singapore, Hong Kong over ban on Everest, MDH masala The CFS issued a warning against the sale and purchase of MDH's Madras Curry Powder and Sambhar Masala, as well as Everest's Fish Curry Masala. In response, MDH stated, "We have not been approached by food safety authorities in either Hong Kong or Singapore about these findings." Also Read | Do MDH, Everest masala cause cancer? Why have Hong Kong, Singapore banned some Indian spices? Explained MDH reassured consumers, stating, "We do not use ethylene oxide at any stage of our spice production.

Nifty Bank index has given only 12.41% returns compared to 25.89% returns by the Nifty 50 index. Beneath this underperformance lies a story. Let us explore it in detail: Investors preferred public sector banks (BPSUs) to private sector banks. BPSUs largely finance institutional and corporate borrowers and private sector banks are known for catering retail credit needs. Despite strong credit offtake, stocks of private sector banks did not do well. There is a reason. Private sector banks were richly valued compared to BPSUs. In a high interest rate regime, value conscious investors preferred to stick to BPSU. The PSU rally also improved the sentiment around PSU bank stocks. However, these stocks have a relatively low weight (around 15%) in the Nifty Bank index. Hence the positive impact on Nifty Bank Index was not as much.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says “I feel that the current market is giving an opportunity during the corrections and these corrections come on a stock-specific basis. These corrections do not come on an overall market basis. So, if Kotak Bank or Bajaj Finance is down, that becomes a buy opportunity for investors to buy into the portfolio largely because when the next trigger comes in, the recovery would be equally sharp of 20-25% and that is where contra-buy has to take place.”

₹230 crore following raids at four drug manufacturing units in Gujarat and neighbouring Rajasthan, an official said. As reported by PTI, an official said, “The raids were conducted by the Gujarat Anti Terrorist Squad and Narcotics Control Bureau jointly on Friday after the ATS received a tip-off that Ahmedabad resident Manoharlal Enani and Kuldeepsinh Rajpurohit of Rajasthan had set up mephedrone manufacturing units." “A watch was kept on the movements of Enani and Rajpurohit as well as their accomplices, following which the raids were conducted at the units in Sirohi and Jodhpur in Rajasthan and Piplaj village in Gandhinagar and Bhaktinagar industrial area of Amreli district in Gujarat," an ATS release said.

Make in India’ initiative, these ATMs offer flexibility and efficiency to banks. Hitachi Payment Services claims that this is the first upgradable ATM in India.

DD Mishra, VP Analyst, Gartner, says, “in 2024-25, we see that AI-led growth is going to come and AI has to play a very critical role. In 2023, AI spending was around $3.5 billion, but we are expecting that this thing is going to grow in 2024-25 significantly. There are other challenges and CIOs are struggling and in this situation, they take a lot of consulting support as well because they do not know what they do not know and this is where they depend on the consulting services which has been growing significantly. We will see disruptions in the short term, but the long term outlook is positive.” Just wanted to get a sense from you with respect to the earnings read through and the commentary that we have heard from the management of the Indian IT majors. It lacks the confidence that a recovery is around the corner. They are still non-committal about it. However, the forecasts coming in from Gartner have been improving consistently. What kind of outlook are you witnessing with respect to client spends, discretionary spends and the pace of ordering. DD Mishra: The way we look at it, there are two perspectives of it. One is the larger perspective where we see how the next four to five years are going to change around IT and that looks quite promising because we see that in 2025, 2026 and 2027, we are going to see double-digit growth and there is no cause of concern as of now.

Amit Khurana, Head of Equities, Dolat Capital, says for the next few months, bottoms-up stock picking should be the preferred mode and look out for names either showing signs of turnaround or names which have visibility even though you may have to pay a little bit of a premium on the valuation side, but the momentum continues to be supportive for those sectors or stocks. You were slightly cautious on the market and by mid of March that caution played out, however, it was short-lived and the market rebounded. What is your current prognosis of the way the earnings season is panning out? Did you request the clients to buy that dip or are they still sitting on the sides? Amit Khurana: Yes, the correction did play out which we were anticipating but the depth of it and the breadth, I did not come as much as one would have wished for.

Girish Madan, Director, Fitch Ratings, says it would be a combination of both thermal and renewable generation sides. In renewables, wWe have seen some pressure on the earnings because tariffs were coming down as competitive intensity was increasing in the sector, but of late the profitability should increase because some of the variables have turned in favour of the Gencos. Some of the commodity prices have also come down. Plus, there has been a 20-30% correction in solar module prices. All these factors could lead to enhanced EBITDA generation as well as profitability for Gencos. Where exactly in the power basket are we seeing the highest amount of activity in terms of addition of capacities? Girish Madan: Over the last few years, we have seen a large part of capacity addition has happened in the renewable space. If we talk about the last two years, around 40 gigawatts have been added in India and 80% of that has gone into solar and wind capacities, mainly solar capacities, so that is where we have seen capacity addition happening. We have seen some volatilities as far as the demand was concerned before COVID, so there was a slowdown in capacity addition. But sustained demand over the last three years has led to a great increase in capacity addition.

RR vs LSG: Top highlights of the match The well-settled opening pair of KL Rahul and Quinton de Kock opened the innings for LSG at the Ekana Sports City Stadium. The left handed de Kock started the innings with two back to back boundaries until he was knocked over by an inswinging delivery from Trent Boult.

Dommaraju Gukesh is tired. After three weeks of gruelling chess that ended in him becoming the youngest ever Candidates champion, all he wants to do is rest. But ever since he returned home after winning the Candidates – the second most-important chess tournament after the World Championship – celebrations haven’t stopped. Dutifully, he has done everything asked of him with a smile and not said no to anyone. Gukesh took some time out of his busy schedule to speak with BORIA MAJUMDAR. Excerpts You are the Candidates champion at the age of 17. The youngest ever to win the tournament. Has that sunk in yet? Not really. We are longing for some rest and for things to settle down. Once that happens, I think the realisation will sink in. I haven’t really had time to process things yet. When your father came running to give you the news, what was it like? Can you relive the moment once please? I was watching the Fabi-Nepo (Fabiano Caruana vs Ian Nepomniachtchi) match for a while and at one point I got really nervous. So, I stepped outside for a walk with (Polish grandmaster and Gukesh’s trainer Grzegorz) Gajewski. We were chatting when my father came running and said that I had won. It is difficult to describe the moment in words. We were laughing, hugging each other, screaming and doing all sorts of thing. It was the most beautiful moment in my three weeks in Toronto.

Mikel Arteta and Ange Postecoglou might be able to settle in and discuss a few shared ideas. Both have worked in the City Football Group structure, which reflects how much the Abu Dhabi-owned champions shape the wider game. You can even look at how a former Manchester City player is joint top scorer with a current Manchester City player. There probably hasn’t been this extent of pure football influence since Barcelona fostered an entire generation of coaches from the early 2000s on. That is no coincidence since the City project directly sought to appropriate the entire Camp Nou ideology. This was one of the points of pursuing Pep Guardiola for so long. A core of that philosophy, which seems so standard now but was once revolutionary, is persisting with the system regardless of what happens around you — or to you. You keep the faith. You trust the process. Arteta and Postecoglou have exemplified this, if from alternative interpretations of the tactics.

Ethereum Blockchain got its own new Bitcoin flying under the radar, kind of.  Publications like  CryptoNews, BitcoinInsider, and CryptoPotato have all mentioned the token; but just as the initial coin offering for BTC in 2011,  the new store-of-value asset has a token presale that’s drawn uncertainty from investors. However, now at 65% sold out, perhaps it’s time for crypto traders to pay attention to Mollars token presale, before the last 35% is gone.

Canadian wildfires are back again after creating havoc last summer. The fumes, smoke, and burning eyes and throat were a massive nightmare for US and Canadian residents during the last year. The orange skies and billowing smoke from densely forested terrains are hard to forget and it looks like the same will be back again this year, however, in what magnitude, is explained by wildlife experts, in a report by USA Today. According to the report, The 2023 Canadian wildfires were a record breaker causing widespread damage and fumes, that affected regions of the United States neighboring Canada. However, experts think that this year will not see such a massive widespread of wildfires.

Delhi Chief Minister Arvind Kejriwal's wife, Sunita Kejriwal, on Saturday set out to campaign for the Aam Aadmi Party in the ongoing Lok Sabha elections. Saturday's roadshow is her maiden political apperance. «Your Chief Minister is a sher, nobody can break him or make him bow down,» Sunita Kejriwal said at the roadshow. She said the Delhi Chief Minister was jailed because he built schools, provided free electricity and opened Mohalla Clinics.

Arvind Kejriwal's wife Sunita Kejriwal held her maiden Lok Sabha poll roadshow in support of the AAP's East Delhi candidate on Saturday evening. Standing through the sunroof of a vehicle, Sunita Kejriwal greeted voters in the Kondli area of East Delhi constituency with folded hands.

Graham Isador says it feels strange to think about himself as one of the “lucky ones” in Toronto’s notoriously unaffordable housing market.