Posts tagged Rediff
Nifty cos’ profit growth seen at slowest in 5 qtrs (16-04-2024)
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
How Berger Paints plans to protect its market share (16-04-2024)
'Which is growing fast and where we are very strongly positioned.'
Rural demand fuels India’s consumption story (16-04-2024)
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
India’s exports dip marginally in March; 3.11% in FY24 (15-04-2024)
India's merchandise exports dipped marginally in March to $41.69 billion, and by 3.11 per cent during the last fiscal year to $437.06 billion mainly due to continued geopolitical turmoil, and depressed global trade. Imports, too, declined in March as well during the entire 2023-24. Trade deficit, or the gap between imports and exports, narrowed 17.74 per cent in March to $15.6 billion and came down 9.33 per cent to $240.17 billion in FY24.
Vi expects 5G rollout in 6-9 months after FPO (15-04-2024)
Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets within 6-9 months of raising fresh capital. Its chief executive Akshaya Moondra said rollout of the modern 5G telecom services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. "With this round of funding, we believe we will be able to (come) back to participate in the industry growth which has not been possible," he said.
Byju’s India CEO Arjun Mohan quits (15-04-2024)
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
Wholesale inflation inches up to 0.53% in March (15-04-2024)
Wholesale inflation in the country rose marginally to 0.53 per cent in March compared to 0.20 per cent in the preceding month due to increase in prices of vegetables, potato, onion and crude oil. The Wholesale Price Index (WPI)-based inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent. The inflation in March 2023 was 1.41 per cent.
Modi promises 30 mn ‘Lakhpati Didis’, higher MSP (15-04-2024)
The Bharatiya Janata Party (BJP) on Sunday pledged to make 30 million 'Lakhpati Didis', up from the 10 million rural women who have already achieved the feat. Prime Minister Narendra Modi on Sunday released the BJP's manifesto for the upcoming Lok Sabha elections. The manifesto says the ruling party will continue the quarterly financial disbursements under the Pradhan Mantri Kisan Samman Nidhi (PM KISAN) yojana.
Wooing Tesla: 4 States Pull Out All Stops (15-04-2024)
'Gujarat is the frontrunner at present.'<br>'However, Tamil Nadu's robust automobile ecosystem and Telangana's aggressive incentives make them strong contenders.'
TCS headcount declines for first time in 19 years (15-04-2024)
For the first time in 19 years, Tata Consultancy Services reported a fall in the net headcount for a financial year, witnessing its total employee base shrinking to 601,546 at the end of FY24. On a year-on-year basis, the company's headcount fell by over 13,249 for the financial year. On a sequential basis, the headcount was down by 1,759.