State-run Indian Oil Corporation (IOCL) reported a weak performance in the fourth quarter of FY24 (January-March 2024), and the turmoil in the energy market indicates it could endure another lacklustre quarter. The oil marketing company (OMC) reported an Ebitda of Rs 10,400 crore, down 27 per cent year-on-year (Y-o-Y) due to weak reported gross refining margin (GRM) of $8.4 per barrel in Q4FY24, which was almost half the consensus expectation of $15 per barrel.
Posts tagged Rediff
HMD plans to make India its manufacturing hub (10-05-2024)
Finnish phone manufacturer Human Mobile Devices (HMD Global), which acquired the Nokia brand name from Microsoft, is planning to make India a key manufacturing hub for its phone exports. The company only began exporting late last year with the Nokia 105 Classic. What started mainly with feature phones will now extend to smartphones – it announced the global launch of models under the HMD brand for the first time a few days ago and these will be available in India too.
‘Markets Could Crash 40-50% If…’ (10-05-2024)
‘If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.’ ‘If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.’ ‘And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.’
Top 6 Auto Brands Sold 92% Cars (10-05-2024)
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra and amp; Mahindra.
Mahindra’s 3XO A Game Changer in Compact SUV Segment (10-05-2024)
Rajesh Karkera/Rediff.com takes the latest offering from the Mahindra stable for a spin.
19 major commodities see export volume growth (09-05-2024)
Exports of 19 major commodities, including petroleum products, coal and marine items, saw growth in terms of volume during April 2023-February 2024, even as they witnessed contraction in value terms during the same period. Government officials said the rise in export volume despite a decline in value implies that these commodities show a stronger market demand.
BSE now corners a fifth of derivatives market share (09-05-2024)
BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival – the National Stock Exchange (NSE) – which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).
Deal valuations weigh on Apollo Hospitals stock (09-05-2024)
The stock of Apollo Hospitals Enterprise (AHEL), India’s largest listed health care services company, fell 4.6 per cent on Monday (April 29) and slipped another 0.34 per cent to close at Rs 5,946.20 on Tuesday (April 30). The share declined due to a lower valuation for subsidiary Apollo HealthCo (AHL) and an aggressive valuation for Keimed, a promoter-owned drug wholesaler that is merging with AHL.
SBI Q4 profit grows 18% to Rs 21,384 cr (09-05-2024)
The country’s largest lender SBI on Thursday reported 18.18 per cent growth in March quarter consolidated net profit to Rs 21,384.15 crore as against Rs 18,093.84 crore in the year-ago period. On a standalone basis, profit grew to Rs 20,698.35 crore from Rs 16,694.51 crore a year ago, the lender said in a regulatory filing.