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Posts tagged Rediff
Bharti Airtel profit tanks 31% on Nigerian Naira woes (14-05-2024)
Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter mainly due to devaluation of the Nigerian Naira. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier.
Analysts wary of Vodafone Idea’s falling subscribers (14-05-2024)
Vodafone Idea’s (Vi’s) subscriber loss reduced to a seven-month low in March, and alongside the company added 1.1 million broadband users after two months of net loss — two things analysts have noted as key trends that need to be monitored. While Vi has been losing customers for more than two and a half years now, the churn reduced to below a million after five straight months in March, the Telecom Regulatory Authority of India (Trai) data has shown. “Jio’s softer than usual subscriber growth in March, and VIL’s slowing subscriber market share loss are key trends to keep an eye on going forward,” global investment banking and financial services major UBS said in an analyst note.
Markets climb as inflation eases; Sensex up 328 pts (14-05-2024)
From the Sensex basket, Mahindra and Mahindra, Larsen and Toubro, JSW Steel, NTPC, IndusInd Bank, Sun Pharma, UltraTech Cement, State Bank of India, Reliance Industries, and Maruti were the major gainers. Nestle, Tata Consultancy Services, Axis Bank, ICICI Bank, Bajaj Finance, ITC, and Asian Paints were among the laggards.
Wholesale inflation rises to 13-month high of 1.26% (14-05-2024)
The wholesale inflation rose to a 13-month high of 1.26 per cent in April fuelled by rising prices of food articles, especially vegetables, amid expectations of RBI holding interest rates in the policy review next month. The wholesale price index (WPI) based inflation has been rising for two months in a row.
Passenger vehicle sales up 1.35% at 335,629 units (14-05-2024)
Passenger vehicles wholesales in India rose 1.3 per cent year-on-year to 335,629 units in April, automobile industry body SIAM said on Tuesday. The passenger vehicle (PV) dispatches from companies to dealers stood at 331,278 units in April 2023.
$120 mn funding, $250 mn credit line for Chabahar port (14-05-2024)
India’s 10-year bilateral contract with Iran for the operation of Chabahar Port is likely to bring in an investment of approximately $370 million. This comprises a direct investment of $120 million from India for infrastructure development and a $250 million line of credit to Iran, Business Standard has learnt. With the $120 million committed for port development, India is set to procure advanced equipment, such as rail-mounted quay cranes, rubber-tyred gantry cranes (also known as transtainers), reach stackers, and forklifts.
Who Will Be The Next SBI Chief? (14-05-2024)
‘The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.’
Is Lok Sabha Poll Impacting Markets? (14-05-2024)
‘It is advisable to stay away from the markets for now and buy only on a dip.’
Retail inflation eases to 11-mth low of 4.83% in Apr (13-05-2024)
Retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally, according to a government data released on Monday. The Consumer Price Index (CPI)-based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023.