Posts in category Business Standard
Tata Projects reports consolidated net profit of Rs 120.19 crore in the March 2024 quarter (02-05-2024)
Sales rise 7.93% to Rs 5412.81 crore
HPCL, BPCL, IOC stocks rally up to 4% as oil dips on ME ceasefire hopes (02-05-2024)
According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.
Eicher Motors CV sales declines 18% YoY in April (02-05-2024)
The vehicles manufacturer's unlisted subsidiary, VE Commercial Vehicles (VECV) reported 18.1% year on year decrease in commercial vehicles (CV) sales to 5,377 units in April 2024.
India’s Strong Manufacturing Growth Continues In April (02-05-2024)
With sales expected to remain positive, buying levels were raised and input stocks lifted to one of the greatest extents seen in over 19 years of data collection. Cost pressures ticked higher, though remained historically mild, pushing up charge inflation to the strongest since January. Despite falling from 59.1 in March to 58.8 in April, the seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) signaled the second-best improvement in the health of the sector for three-and-a-half years. The PMI was comfortably above both the neutral mark of 50.0 and its long-run average (53.9).
Ambuja Cements Q4 PAT climbs 64% YoY to Rs 1,055 cr (02-05-2024)
The cement major's consolidated net profit surged 63.61% to Rs 1,055.16 crore in Q4 FY24 as against Rs 644.94 crore recorded in Q4 FY23.
Bank credit to industry grows by 8.5% annually in March: RBI (02-05-2024)
Bank credit to industry grew by 8.5 per cent annually in March while there was moderation in the personal loans segment, as per Reserve Bank data released on Tuesday. The growth in credit to industry and personal loans segment in March 2023 was 5.6 per cent and 21 per cent, respectively. "Among major industries, growth in credit (year-on-year) to 'chemicals and chemical products', 'food processing', and 'infrastructure' accelerated in March 2024 as compared with the corresponding month of the previous year, while that to 'basic metal and metal products' moderated," the RBI said. Credit growth to services sector improved to 20.2 per cent annually in March 2024 from 19.6 per cent a year ago.
Kotak Mahindra Bank shares hit 52-week low after Joint MD resigns (02-05-2024)
The drop came after joint managing director (Joint MD) KVS Manian stepped down from his role at the bank and its board after 29 years of service
Hero MotoCorp edges higher after two-wheeler sales rise by 35% YoY in April (02-05-2024)
Hero MotoCorp added 1.60% to Rs 4614.95 after the company said that it had sold 533,585 units of motorcycles and scooters in April 2024, which is higher by 34.7% as compared with sales of 396,107 units recorded in April 2023.
Investment remains an important growth driver in India, Says IMF (02-05-2024)
Indian economy will likely expand 6.8% in the current fiscal as public investment remains the primary growth driver, the International Monetary Fund said Tuesday in its Regional Economic Outlook for Asia and Pacific. Krishna Srinivasan, Director of the Asia and Pacific Department at the IMF, stated, "In China and India, we expect investment to contribute disproportionately to growthmuch of it public, especially in India." Additionally, the IMF has raised its outlook for India's FY24 growth to 7.8%, surpassing the government's estimate of 7.6%. Growth in Asia and the Pacific surprised on the upside in the second half of 2023, reaching 5.0 percent for the year as wholesignificantly stronger than the outcome in 2022 (3.9 percent), and 0.4 percentage point higher than projected in the October 2023 Regional Economic Outlook: Asia and Pacific. Emerging Asia accounted for the bulk of positive growth surprises, including in Malaysia, the Philippines, Vietnam, and,most notably, India, the ...
Biz split impact: Godrej stocks rally up to 9%; Godrej Properties down 4% (02-05-2024)
Shares of Godrej Group companies rallied up to 9 per cent in Thursday's trading session after the Group announced a split in the 127-year old family business.