Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company’s production increased by 16 per cent Y-o-Y to 134,807 units.
Posts tagged Rediff
Sensex tumbles 553 points on selling in IT stocks (31-10-2024)
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.
Airfares Nosedive For Diwali! (31-10-2024)
‘The past few quarters have seen prohibitive fares for advance bookings, only to dip closer to departure.’
Airfares Nosedive For Diwali! (31-10-2024)
‘The past few quarters have seen prohibitive fares for advance bookings, only to dip closer to departure.’
Market riptide pulls ADR below 1 (31-10-2024)
The advance/decline ratio (ADR) – a gauge of market breadth – has remained negative (below 1) for a second consecutive month. In other words, the number of stocks declining is outpacing those rising, as a brutal selloff by overseas investors and lofty valuations weigh on sentiment. According to BSE data, the ADR for October stands at 0.98 for the second month in a row.
Key infra sectors’ growth slows to 2% in September (30-10-2024)
The output of eight key infrastructure sectors expanded by 2 per cent in September, though the growth was slower than the 9.5 per cent registered in the same month last year, according to official data released on Wednesday. The output of these sectors had contracted by 1.6 per cent in August. Out of the eight key sectors, three — crude oil, natural gas and electricity — recorded negative growth in September.
Swiggy launches Rs 11,330-cr IPO (30-10-2024)
Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class’ rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. “We are also reading about it, but we are not seeing that yet in the business… So far, we have not seen the impact of demand on our business,” its chief financial officer Rahul Bothra said.
Banking, financial stocks drag Sensex down by 427 pts (30-10-2024)
From the 30-share Sensex pack, Infosys, ICICI Bank, Kotak Mahindra Bank, Mahindra and Mahindra, State Bank of India, HCL Technologies, Axis Bank, NTPC and HDFC Bank were among the laggards. In contrast, Maruti, IndusInd Bank, Adani Ports, ITC and UltraTech Cement defied broader market trends and ended in positive territory.
Credit cards get festive boost, spending increases 25% (30-10-2024)
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
India’s exports to 8 of top 10 mkts grow in H1 (30-10-2024)
Exports to eight out of India’s top 10 destinations, including the Netherlands, the United States (US) and the United Kingdom (UK), witnessed positive growth during the first six months of FY25, despite muted global demand amid geopolitical challenges, commerce department data showed.