Wellness Financial News

By Noele Illien and Sinead Cruise

By Lucia Mutikani

PTC Industries Share Price: Shares of PTC Industries were locked at over 11 per cent upper circuit to hit its fresh 52-week high mark of ₹7,663.25 apiece on the BSE after its subsidiary signed a new supply deal with France-based Dassault Aviation on Wednesday, January 17. The company's wholly-owned subsidiary Aerolloy Technologies signed a long term purchase agreement with Dassault Aviation for supply of full range of titanium cast parts made in India for the Rafale multirole fighter aircraft.

In a new paper, the Niti Aayog said an estimated 248 million Indians exited ‘multidimensional poverty’ (MDP) in the nine-year period of 2013-14 and 2022-23. Prime Minister Narendra Modi has already used the data to suggest a reduction in ‘poverty’ during his tenure. Mint explains how to read it.

global economy is on everyone’s mind. In 2023, global growth was quite resilient and inflation also toned down. Several countries such as the US and China did relatively well in the second half of 2023.

Redfin CEO Glenn Kelman analyzes the state of the housing market after mortgage rates surged past 7% on 'Cavuto: Coast to Coast.'

Evercore ISI equity analysts updated their Tactical, Action & Positioning (TAP) List as Q4 earnings season gets into the full swing.

Instacart (CART) was lifted to Outperform from Peer Perform at Wolfe Research Wednesday with a new price target of $35 per share.

Arvind Kejriwal will be heading to Goa this week amid preparations for the Ayodhya Ram mandir Pran Pratishta ceremony. Senior AAP leader Saurabh Bharadwaj however indicated that the Delhi CM was likely to visit the religious site at a time of his own choosing. Key Opposition leaders have turned down invites from the Shri Ram Janmbhoomi Teerth Kshetra trust this month citing ‘politicisation’ of the event by the BJP and its allies.

UBS Securities bullish on GAIL's profitability and potential stock re-rating; raises target price by over 26% UBS has been making quick progress on integrating Credit Suisse since it agreed to buy the smaller rival in an emergency takeover ten months ago in what was the biggest banking sector tie-up since the financial crisis. Still, the acquisition comes with a raft of potential difficulties from closing out positions to managing the legal liabilities inherited from Credit Suisse, the Bloomberg report added.

DAVOS, Switzerland (Reuters) — Argentina's President Javier Milei will meet British foreign minister David Cameron and IMF chief Kristalina Georgieva on his trip to Davos, where he is expected to pitch his ultra-liberal government programme in a special address later on Wednesday.

By Dmitry Zhdannikov

(Reuters) -Manchester United cut its annual revenue and profit forecasts on Wednesday, after the English Premier League club was knocked out of Europe's top tier Champions League tournament in the early stages this season.

This will be another year of transition at the four wirehouses – Merrill Lynch, Morgan Stanley, Wells Fargo Advisors, and UBS – as each seeks to find stability after last year’s significant changes.  

One of the dullest themes in climate investing was nevertheless one of its most profitable last year.

SHANGHAI/BEIJING (Reuters) -SAIC Motor Corp plans to add 14 vehicle vessels in the next three years to its fleet of carriers as the state-owned Chinese automaker aims to boost sales in overseas markets, it said on Wednesday.

Investing.com — European stock markets fell sharply Wednesday on increased uncertainty over the likelihood of early interest rate cuts as well as disappointing Chinese growth data. 

By Gilles Guillaume and Diana Mandia

Yemen, officials said Tuesday, as the Iran-backed rebel group continues to target vessels in the Red Sea.The early morning strikes destroyed four anti-ship missiles that were prepared to launch from Houthi-controlled areas of Yemen, officials said.The Houthis have not stopped their attacks despite two airstrikes by U.S. and British forces last week that targeted the group’s weapons depots, launching facilities and air defence systems.

Amit Chadha, MD & CEO, L&T Technology Services, says “I would like to confirm to you that the highest growth that we have had in the last two quarters has been from Europe. Our North America region has also grown in both these quarters and then has been ROW. And I would like to confirm that that is the case for quarter three as well.” Let us begin by talking about the overall growth rate because that has slowed from the 6% plus that we saw per quarter 8 to 9 quarters ago to about 1%. Are you confident that this is the bottom and hence a sharp reversal can be seen in Q4? Amit Chadha: You want to do the math and you look at 17.5% to 18.5%, you will realise the asking rate is about 4%. I am confirming to you that Q4 will be a good quarter and that is how we are reaffirming our guidance. And I have confidence based on the deals that we have won, based on some of the deals in play that we will be there as we move forward. I am extremely excited about the kind of opportunity that exists for engineering services with India Inc. globally. So I am fairly comfortable at this stage.

Saurabh Mukherjea, Founder, Marcellus Investment Managers, says My reading is that selling abates and as the company stabilizes, as the numbers stabilize, we will see institutional appetite returning. Remember, merger synergies have not yet kicked in. Without merger synergies kicking in, HDFC Bank is doing around 1.9% ROA. If that trickles up to 2% ROA, assume gearing of nine times. We are looking at an 18% ROE bank, even without meaningful merger synergies kicking in. And an 18% ROE bank growing consistently at 20% at this scale, we do not have too many other lenders operating on this scale, at this level of profitability anywhere in the world. When HDFC bank falls by 5%, that has to be the first question. Saurabh Mukherjea: It tells you a lot about the world that a bank of this scale can report 20% growth in loan book, improvement in asset quality and still fall 5%.